My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
55A - AGMT LEGACY APARTMENTS
Clerk
>
Agenda Packets / Staff Reports
>
City Council (2004 - Present)
>
2020
>
12/15/2020
>
55A - AGMT LEGACY APARTMENTS
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/10/2020 5:00:39 PM
Creation date
12/10/2020 4:55:21 PM
Metadata
Fields
Template:
City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
55A
Date
12/15/2020
Destruction Year
2025
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
139
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Any amounts disbursed by the Beneficiary pursuant to this paragraph, with interest thereon, <br />will become an indebtedness of Trustor secured by this Deed of Trust. Unless Trustor and the <br />Beneficiary agree to other terms of payment, such amount will be payable upon notice from the <br />Beneficiary to Trustor requesting payment thereof, and will bear interest from the date of <br />disbursement at the rate payable from time to time on outstanding principal under the Inclusionary <br />Promissory Note, unless payment of interest at such rate would be contrary to applicable law, in which <br />event such amounts will bear interest at the highest rate permissible under applicable law. Nothing <br />contained in this paragraph will require the Beneficiary to insure any expense or take any action <br />hereunder. <br />9. Inspection. The Beneficiary may make, or cause to be made, reasonable entries upon <br />and inspections of the Security upon reasonable prior notice during normal business hours; provided <br />that, the Beneficiary will give Trustor reasonable notice of inspection. <br />10. Forbearance by the Beneficiary Not a Waiver. Any forbearance by the Beneficiary in <br />exercising any right or remedy will not be a waiver of the exercise of any such right or remedy. The <br />procurement of insurance or the payment of taxes or other liens or charges by the Beneficiary will not <br />be a waiver of the Beneficiary's right to accelerate the maturity of the indebtedness secured by this <br />Deed of Trust. <br />11. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and <br />cumulative to any other right or remedy under this Deed of Trust, or any other document, or afforded <br />by law or equity, and may be exercised concurrently, independently or successively. <br />12. Successors and Assigns Bound. The covenants and agreements herein contained shall <br />bind, and the rights hereunder shall inure to, the respective successors and assigns of the Beneficiary <br />and Trustor subject to the provisions of this Deed of Trust. <br />13. Notice. Except for any notice required under applicable law to be given in another <br />manner: (a) any notice to Trustor provided for in this hiclusionary Deed of Trust will be given by <br />certified mail, return receipt requested, addressed to Trustor at c/o National Community <br />Renaissance of California, Attention: Legal Counsel, 9421 Haven Avenue, Rancho Cucamonga, <br />California, with a copy to: Klein Hornig LLP, 1325 G Street NW, Suite 700, Washington, <br />DC20005, Attention: Chris Hornig; and to Trustor's Investor Limited Partner at Bank of America, <br />N.A. at MA1-225-02-02, 225 Franklin Street, Boston, MA 02110, Attention Asset Management; <br />and to Buchalter, A Professional Corporation, 1000 Wilshire Boulevard, Suite 1500, Los <br />Angeles, CA 90017-1730, Attention: Michael Williamson (B0965-0521); (b) any notice to the <br />Beneficiary will be given by certified mail, return receipt requested, to the Beneficiary at City of <br />Santa Ana, 20 Civic Center Plaza, P.O. Box 22030, Santa Ana, CA 92702, or at such other address <br />as the Beneficiary may designate by notice to Trustor as provided above; and, (c) to Trustee at <br />I . Notice shall be effective as of the date received as shown on the return receipt. <br />13. Governing Law. This Deed of Trust shall be governed by the laws of the State of <br />California with venue in Orange County. <br />55A-87 <br />
The URL can be used to link to this page
Your browser does not support the video tag.