Laserfiche WebLink
Deed of Trust if. (a) Trustor pays the Beneficiary all sums which would be then due under <br />this Agency Deed of Trust and no acceleration under the Agency Loan Note has occurred; (b) <br />Trustor cures all breaches of any other covenants or agreements of Trustor contained in this <br />Agency Deed of Trust and the Affordability Restrictions on Transfer of Property; (c) Trustor <br />pays all reasonable expenses incurred by the Beneficiary and the Trustee in enforcing the <br />covenants and agreements of Trustor contained in this Agency Deed of Trust and the <br />Affordability Restrictions, and in enforcing the Beneficiary's and the Trustee's remedies, <br />including, but not limited to, reasonable attorneys' fees; and (d) Trustor takes such action as <br />the Beneficiary may reasonably require to assure that the lien of this Agency Deed of Trust, <br />the Beneficiary's interest in the Security and Trustor's obligation to pay the sums secured by <br />this Agency Deed of Trust shall continue unimpaired. Upon such payment and cure by <br />Trustor, this Agency Deed of Trust and the obligations secured hereby will remain in full <br />force and effect as if no acceleration had occurred. <br />20. Acceptance by Trustee. Trustee accepts this Trust when this Agency Deed <br />of Trust, duly executed and acknowledged, is made a public record as provided by law. <br />Trustee is not obligated to notify any party to this Agency Deed of Trust ofpending sale under <br />any other deed of trust or any action or proceeding in which Trustor, Beneficiary, or Trustee <br />shall be a party unless brought by Trustee. <br />21. Reconveyance. Upon payment or forgiveness of all sums secured by this <br />Agency Deed of Trust, the Beneficiary will request the Trustee to reconvey the Security and <br />will surrender this Agency Deed of Trust and the Agency Loan Note to the Trustee. The <br />Trustee will reconvey the Security without warranty and without charge to the person or <br />persons legally entitled thereto. Such person or persons will pay all costs of recordation, if <br />any. <br />22. Substitute Trustee. The Beneficiary, at the Beneficiary's option, may from <br />time to time remove the Trustee and appoint a successor trustee to any Trustee appointed <br />hereunder. The successor trustee will succeed to all the title, power and duties conferred upon <br />the Trustee herein and by applicable law. <br />23. Request for Notice. Trustor requests that copies of the notice of default and <br />notice of sale be sent to Trustee at the address set forth in Section 14 above. <br />24. Nonrecourse Liability. Neither Trustor nor any partner of Trustor shall <br />have any personal liability under the Agreement, Agency Loan Note, and this Agency Deed <br />of Trust and any judgment, decree or order for payment of money obtained in any action to <br />enforce the obligation of Trustor to repay the loan evidenced by such documents shall be <br />enforceable against Trustor only to the extent of Trustor's interest in the Property. <br />25. Extended Use Agreement. Beneficiary acknowledges that Trustor and the <br />California Tax Credit Allocation Committee have or intend to enter into an extended use <br />agreement. Beneficiary acknowledges and agrees that, in the event of a foreclosure of its <br />interest under this Agency Deed of Trust or delivery by Trustor of a deed in lieu thereof <br />7 <br />