|
6.1.G. - Page 34
<br /> APN: 062-093-300, 062-093-310 DO NOT RECORD
<br /> The following is a copy of provisions (1) to (14), inclusive, of the fictitious deed of trust, recorded in each county of California, as
<br /> stated in the foregoing Deed of Trust and incorporated by reference in said Deed of Trust as being a part thereof as if set forth at
<br /> length therein.
<br /> TO PROTECT THE SECURITY OF THIS DEED OF TRUST,TRUSTOR AGREES:
<br /> (1) To keep said property in good condition and repair; not to remove or demolish any building thereon; to complete or restore
<br /> promptly and in good and workmanlike manner any building which may be constructed, damaged, or destroyed thereon and to pay
<br /> when due all claims for labor performed and materials furnished therefor; to comply with all laws affecting said property or requiring
<br /> any alterations or improvements to be made thereon; not to commit or permit waste thereof; not to commit, suffer,or permit any act
<br /> upon said property in violation of law;to cultivate, irrigate,fertilize,fumigate, prune and do all other acts which from the character or
<br /> use of said property may be reasonably necessary,the specific enumerations herein not excluding the general.
<br /> (2)To provide, maintain and deliver to Beneficiary, fire insurance satisfactory to and with loss payable to Beneficiary. The amount
<br /> collected under any fire or other insurance policy may be applied by Beneficiary upon any indebtedness secured hereby and in such
<br /> order as Beneficiary may determine,or at option of Beneficiary the entire amount so collected or any part thereof may be released to
<br /> Trustor. Such application or release shall not cure or waive any default or notice of default hereunder or invalidate any act done
<br /> pursuant to such notice.
<br /> (3)To appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or
<br /> Trustee; and to pay all costs and expenses, including cost of evidence of title and attorney's fees in a reasonable sum, in any such
<br /> action or proceeding in which Beneficiary or Trustee may appear,and in any suit brought by Beneficiary to foreclose this Deed.
<br /> (4) To pay: at least ten days before delinquency all taxes and assessments affecting said property, including assessments on
<br /> appurtenant water stock; when due, all encumbrances, charges and liens,with interest, on said property or any part thereof, which
<br /> appear to be prior or superior hereto;all costs,fees and expenses of this Trust.
<br /> Should Trustor fail to make any payment or to do any act as herein provided,then Beneficiary or Trustee, but without obligation
<br /> so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation hereof, may: make or do
<br /> the same in such manner and to such extent as either may deem necessary to protect the security hereof, Beneficiary or Trustee
<br /> being authorized to enter upon said property for such purposes; appear in and defend any action or proceeding purporting to affect
<br /> the security hereof or the rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance,
<br /> charge or lien which in the judgment of either appears to be prior or superior hereto; and, in exercising any such powers, pay
<br /> necessary expenses,employ counsel and pay his reasonable fees.
<br /> (5)To pay immediately and without demand all sums so expended by Beneficiary or Trustee,with interest from date of expenditure
<br /> at the amount allowed by law in effect at the date hereof,and to pay for any statement provided for by law in effect at the date hereof
<br /> regarding the obligation secured hereby any amount demanded by the Beneficiary not to exceed the maximum allowed by law at the
<br /> time when said statement is demanded.
<br /> (6)That any award of damages in connection with any condemnation for public use of or injury to said property or any part thereof is
<br /> hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received by him in the same manner and
<br /> with the same effect as above provided for disposition of proceeds of fire or other insurance.
<br /> (7)That by accepting payment of any sum secured hereby after is due date, Beneficiary does not waive his right either to require
<br /> prompt payment when due of all other sums so secured or to declare default for failure so to pay.
<br /> (8) That at any time or from time to time, without liability therefor and without notice, upon written request of Beneficiary and
<br /> presentation of this Deed and said note for endorsement,and without affecting the personal liability of any person for payment of the
<br /> indebtedness secured hereby, Trustee may: reconvey any part of said property; consent to the making of any map or plat thereof;
<br /> join in granting any easement thereon;or join in any extension agreement or any agreement subordinating the lien or charge hereof.
<br /> (9)That upon written request of Beneficiary stating that all sums secured hereby have been paid, and upon surrender of this Deed
<br /> and said note to Trustee for cancellation and retention and upon payment of its fees, Trustee shall reconvey, without warranty, the
<br /> property then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness
<br /> thereof. The Grantee in such reconveyance may be described as"the person or persons legally entitled thereto." Five years after
<br /> issuance of such full reconveyance,Trustee may destroy said note and this Deed(unless directed in such request to retain them).
<br /> (10) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, power, and authority, during the
<br /> continuance of these Trusts, to collect the rents, issues and profits of said property, reserving unto Trustor the right, prior to any
<br /> default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, to collect and
<br /> retain such rents, issues, and profits as they become due and payable. Upon any such default, Beneficiary may at any time without
<br /> notice,either in person, by agent, or by a receiver to be appointed by a court,and without regard to the adequacy of any security for
<br /> the indebtedness hereby secured, enter upon and take possession of said property or any part thereof, in his own name sue for or
<br /> otherwise collect such, rents, issues and profits, including those past due and unpaid,and apply the same, less costs and expenses
<br /> of operation and collection, including reasonable attorney's fees, upon any indebtedness secured hereby, and in such order as
<br /> Beneficiary may determine. The entering upon and taking possession of said property, the collection of such rents, issues and
<br /> profits, and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any
<br /> act done pursuant to such notice.
<br /> (11)That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder,
<br /> Beneficiary may declare all sums secured hereby immediately due and payable by delivery to Trustee of written declaration of
<br /> default and demand for sale and of written notice of default and election to cause to be sold said property,which notice Trustee shall
<br /> cause to be filed for record. Beneficiary also shall deposit with Trustee this Deed, said note and all documents evidencing
<br /> expenditures secured hereby.
<br /> INITIALS
<br /> FD-21 B (Rev. 4/94) SHORT FORM DEED OF TRUST Page No. 4 of
<br /> 6
<br /> ATTY/AGR/2013.022/FUNDING AGR FOR WILLOW ROAD APARTMENTS REHABILITATION PROJECT
<br /> REV:02-15-13 VR
<br /> Page 32 of 35
<br />
|