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ORANGE HOUSING DEVELOPMENT CORPORATION/C&C DEVELOPMENT
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Last modified
6/9/2017 12:18:54 PM
Creation date
11/13/2009 9:35:44 AM
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Contracts
Company Name
ORANGE HOUSING DEVELOPMENT CORPORATION/C&C DEVELOPMENT
Contract #
A-2009-036
Agency
Community Development
Council Approval Date
4/6/2009
Expiration Date
9/20/2064
Insurance Exp Date
2/15/2010
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9/25/09 <br />12. Successors and Assigns Bound. The covenants and agreements herein <br />contained shall bind, and the rights hereunder shall inure to, the respective successors and <br />assigns of the Beneficiary and Trustor subject to the provisions of this City Deed of Trust. <br />13. Joint and Several Liability. All covenants and agreements of Trustor shall be <br />joint and several. <br />14. Notice. Except for any notice required under applicable law to be given in <br />another manner, (a) any notice to Trustor provided for in this City Deed of Trust will be <br />given by certified mail, return receipt requested, addressed to Trustor at 414 East Chapman <br />Avenue, Orange, California, 92866, with copies to C&C T&R LLC at 1110 E. Chapman <br />Avenue, Suite 200, Orange, California 92866 (b) any notice to the Beneficiary will be <br />given by certified mail, return receipt requested, to the Beneficiary at 20 Civic Center Plaza, <br />P.O. Box 1988, Santa Ana, California 92702, Attention: Housing Manager, or at such other <br />address as the Beneficiary may designate by notice to Trustor as provided above, and (c) to <br />Trustee at 8121 E. Florence Avenue, Downey, California 90240. Notice shall be effective <br />as of the date received as shown on the return receipt. <br />15. Governing Law. This City Deed of Trust shall be governed by the laws of <br />the State of California. <br />16. Severability. In the event that any provision or clause of this City Deed of <br />Trust or the City Loan Note conflicts with applicable law, such conflict will not affect other <br />provisions of this City Deed of Trust or the City Note which can be given effect without the <br />conflicting provision, and to this end the provisions of the City Deed of Trust and the City <br />Loan Note are declared to be severable. <br />17. Captions. The captions and headings in this City Deed of Trust are for <br />convenience only and are not to be used to interpret or define the provisions hereof. <br />18. Default in Foreclosure; Remedies. Upon Trustor's breach of any covenant or <br />agreement of Trustor in this City Deed of Trust or the City Note secured by this City Deed <br />of Trust, including, but not limited to, the covenants to pay, when due, any sums secured by <br />this City Deed of Trust, the Beneficiary may declare all sums secured by this City Deed of <br />Trust immediately due and payable by delivering to Trustor notice thereof specifying: (1) <br />The breach; (2) the action required to cure such breach; (3) a date not less than 30 days from <br />the date the notice is received by Trustor as shown on the return receipt, by which such <br />breach is to be cured provided, however, that if such default is not reasonable susceptible to <br />being cured within 30 days, Trustor shall have a reasonable period to cure the defect so long <br />as Trustor is diligently prosecuting the cure to completion; and (4) that failure to cure such <br />breach on or before the date specified in the notice may result in acceleration of the sums <br />secured by this City Deed of Trust and sale of the Security. The notice will also inform <br />Trustor of Trustor's right to reinstate after acceleration and the right to bring a court action to <br />assert the non-existence of default or any other defense of Trustor to acceleration and sale. <br />5 <br />
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