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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 />cure by Trustor and shall be accepted or rejected on the same basis as if made or tendered by <br />Trustor. <br />The Beneficiary shall be entitled to collect all reasonable costs and expenses <br />incurred in pursuing the remedies provided in this paragraph, including, but not limited to, <br />reasonable attorneys' fees. <br />19. Trustor's Right to Reinstate. Notwithstanding the Beneficiary's acceleration <br />of the sums secured by this City Deed of Trust, Trustor will have the right to have any <br />proceedings begun by the Beneficiary to enforce this City Deed of Trust discontinued at any <br />time prior to 5 days before sale of the Security pursuant to the power of sale contained in <br />this City Deed of Trust or at any time prior to entry of a judgment enforcing this City Deed <br />of Trust if. (a) Trustor pays the Beneficiary all sums which would be then due under this <br />City Deed of Trust and no acceleration under the City Note has occurred; (b) Trustor cures <br />all breaches of any other covenants or agreements of Trustor contained in this Deed of <br />Trust; (c) Trustor pays all reasonable expenses incurred by the Beneficiary and the Trustee <br />in enforcing the covenants and agreements of Trustor contained in this City Deed of Trust <br />and in enforcing the Beneficiary's and the Trustee's remedies, including, but not limited to, <br />reasonable attorneys' fees; and (d) Trustor takes such action as the Beneficiary may <br />reasonably require to assure that the lien of this City Deed of Trust, the Beneficiary's <br />interest in the Security and Trustor's obligation to pay the sums secured by this City Deed of <br />Trust shall continue unimpaired. Upon such payment and cure by Trustor, this City Deed of <br />Trust and the obligations secured hereby will remain in full force and effect as if no <br />acceleration had occurred. <br />20. Acceptance by Trustee. Trustee accepts this Trust when this City Deed of <br />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 City Deed of Trust of pending 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 of all sums secured by this City Deed of <br />Trust, the Beneficiary will request the Trustee to reconvey the Security and will surrender <br />this City Deed of Trust and the City Note to the Trustee. The Trustee will reconvey the <br />Security without warranty and without charge to the person or persons legally entitled <br />thereto. Such person or persons will pay all costs of recordation, if 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 <br />upon 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 />7 <br />
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