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AgdaPkt 2003-12-15
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AgdaPkt 2003-12-15
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Last modified
6/2/2011 1:46:24 PM
Creation date
12/11/2003 4:13:05 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Agency Type
City Council
Date
12/15/2003
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(o G49 <br />by a receiver to be appointed by the court, (a) may enter upon and <br />take possession of the property at any time and manage and control <br />it in Beneficiaries reasonable discretion and in compliance with <br />applicable law, and (b) with or without taking possession, may sue <br />for or otherwise collect the rents, :.ssues and profits thereof, <br />whether past due or coming due thereafte. and apply the same, less <br />costs and expenses of operation and collection, including <br />reasonable attorneys' fees, upon any obligation secured hereby and <br />in such order as Beneficiaries determines. None of the aforesaid <br />acts shall cure or waive any default hereunder or invalidate any <br />act done pursuant to such notice. <br />9. Without affecting the liability of Trustor or of any <br />other party now or hereafter bound by the terms hereof, from time <br />to time and with or without notice, Beneficiaries may release any <br />person now or hereafter liable for performance of such obligation, <br />and may extend the time for payment or performance, accept <br />additional security, and alter, substitute or release any security. <br />10. In any judicial action brought to foreclose this <br />deed or to enforce any right of Beneficiaries or of Trustee <br />hereunder, Trustor shall pay to Beneficiaries and to Trustee <br />attorneys' fees in a reasonable sum, to be fixed by the court, <br />provided Beneficiaries or Trustee, as applicable, is the prevailing <br />party. <br />D. Miscellaneous Provisions <br />1. No remedy hereby given to Beneficiaries or Trustee <br />is exclusive of any other remedy hereunder or under any present or <br />future law. <br />2. The pleading of any statute of limitations as a <br />defense to any and all obligations secured by this deed is hereby <br />waived, to the full extent permissible by law. <br />3. Trustor shall, upon request made by Beneficiaries, <br />Burnish the Beneficiaries with annual statements covering the <br />operations of the property. <br />4. Beneficiaries may collect a "late charge" not to <br />exceed an amount equal to six percent (6 %) on the amount past due <br />and remaining unpaid on any installment that is not paid within ten <br />(10) days from the due date thereof, to cover the extra expense <br />involved in handling delinquent payments. <br />5. This deed applies to, inures to the benefit of and <br />- <br />
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