Item 16 - Affordable Housing Project at 801, 807, 809 and 809 ½ E. Santa Ana Blvd

Home Browse Search

will not be a waiver of the Beneficiary's right to accelerate the maturity of the indebtedness secured by this Deed of Trust. 11. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this Deed of Trust, or any other document, or afforded by law or equity, and may be exercised concurrently, independently or successively. 12. Successors and Assigns Bound. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the Beneficiary and Trustor subject to the provisions of this Deed of Trust. 13. Joint and Several Liability. All covenants and agreements of Trustor shall be joint and several. 14. Notice. Except for any notice required under applicable law to be given in another manner: (a) any notice to Trustor provided for in this Agency Deed of Trust will be given by certified mail, return receipt requested, addressed to Trustor at Shelter Providers of Orange County, Inc. DBA HomeAid Orange County, 17821 17th Street, Suite 120, Tustin, California 92780, Attention: Gina R. Scott/Executive Director; (b) any notice to the Beneficiary will be given by certified mail, return receipt requested, to the Beneficiary at 20 Civic Center Plaza, P.O. Box 1988, Santa Ana, California 92702, Attention: Housing Division Manager, or at such other address as the Beneficiary may designate by notice to Trustor as provided above; and, (c) to Trustee at 888 S. Figueroa Street, Suite 2100, Los Angeles, CA 90017. Notice shall be effective as of the date received as shown on the return receipt. 15. Governing Law. This Deed of Trust shall be governed by the laws of the State of California with venue in Orange County. 16. Severability. In the event that any provision or clause of this Deed of Trust or the Agency Promissory Note conflicts with applicable law, such conflict will not affect other provisions of this Deed of Trust or the Agency Promissory Note that can be given effect without the conflicting provision, and to this end the provisions of the Deed of Trust and the Agency Promissory Note are declared to be severable. 17. Captions. The captions and headings in this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. 18. Default in Foreclosure; Remedies. Upon Trustor's breach of any covenant or agreement of Trustor in this Deed of Trust or secured by this Deed of Trust, including, but not limited to, the covenants to pay, when due, any sums secured by this Deed of Trust, or the occurrence of any “Event of Default” (as defined in the Agency Promissory Note), the Beneficiary may declare all sums secured by this Deed of Trust immediately due and payable by delivering to Trustor notice thereof, specifying: (1) the breach; (2) the action required to cure such breach; (3) a date not less than thirty (30) days from the date the notice is received by Trustor, as shown on the return receipt, by which such breach is to be cured, provided, however, that if such Event of Default is not reasonably susceptible to being cured within thirty (30) days, Trustor shall have a reasonable period to cure the defect, so long as Trustor is diligently prosecuting the cure to completion; and, (4) that failure to cure such breach on or before the date specified in the notice may result in EXHIBIT 4