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AgdaPkt 2015-05-18 Closed and Joint SA and PFA
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AgdaPkt 2015-05-18 Closed and Joint SA and PFA
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Last modified
7/17/2015 3:06:59 PM
Creation date
5/14/2015 4:16:47 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
5/8/2015
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9.A. - Page 48 <br /> ARTICLE I <br /> MAINTENANCE OF THE PROPERTY AND SECURITY <br /> Section 1.1. Maintenance and Modification of the Property by Trustor. Trustor will: <br /> a) at all times prior to the date upon which the indebtedness evidenced by the Note <br /> has been fully repaid to Beneficiary and all other obligations of performance which <br /> are secured by this Deed of Trust have been satisfied ("Expiration Date"), at the <br /> Trustor's expense, keep the Property in good condition and well maintained; <br /> b) not substantially alter, remove or demolish the Property or any building or other <br /> improvements thereon, except when incidental to the replacement of fixtures, <br /> equipment, machinery or appliances with items of like kind, without the prior written <br /> consent of Beneficiary; <br /> c) restore and repair to the equivalent of its original condition, all or any part of the <br /> Property which may be damaged or destroyed, including, but not limited to, damage <br /> from termites and dry rot, soil subsidence and construction defects, whether or not <br /> insurance proceeds are available to cover any part of the cost of such restoration or <br /> repair; <br /> d) pay when due all claims for labor performed and materials furnished in connection <br /> with the Property and not permit any mechanic's or materialman's liens to arise <br /> against the Property or to furnish loss or liability under such mechanic's lien claims; <br /> e) comply with all laws affecting the Property or requiring that any alterations, repairs, <br /> replacements, or improvements be made thereon, including without limitation laws <br /> and regulations requiring that a permit be obtained from the City of Redwood City <br /> prior to the alteration, repair, removal or demolition of any building or improvement <br /> thereon; <br /> f) not commit or permit waste on or to the Property, or commit, suffer or permit any act <br /> or violation of law to occur upon the Property; <br /> g) not abandon the Property; <br /> h) cultivate, irrigate, fertilize, fumigate and prune, all as necessary; and <br /> i) notify the Beneficiary in writing of any condition at or on the Property which may <br /> have a significant and measurable effect on its market value. The Beneficiary shall <br /> have no responsibility in any of these matters or for the making of improvements or <br /> additions to the Property. <br /> ARTICLE II <br /> TAXES, INSURANCE AND ADVANCES <br /> Section 2.1. Taxes, Assessments, Charges and Liens <br /> Trustor shall pay or cause to be paid, at least ten (10) days prior to delinquency, all taxes, <br /> assessments, charges and levies imposed by any public authority or utility company which are <br /> or may become a lien affecting the Security or any part thereof; provided, however, that Trustor <br /> ATTY/RESO.3085/CC RESO RWC FIRE SAFETY FIRST PILOT PROGRAM ATTACHMENT B-DEED OF TRUST <br /> REV:05-11-15 VR <br /> Page 3 of 19 <br />
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