80A - JOINT PH - TRANSIT ZONING CODE, FINAL EIR, SPECIFIC PLAN ETC. - ORIGINAL PACKET PROVIDED TO COUNCIL

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ARTICLE, IC IV EVE, EN 1 S OF DEFAUL T AND MEDIES Section 4.1 Events of Default Defined. The occurrence of any failure of the Trusto • to pay the Promissory Note or to otherwise perform an obligation the performance of which is secured by this Deed of Trust, and the continuation of such failure for a period of thirty 30 business days as to monetary obligations and sixty 6 business days as to non - monetary obligations or such additional time as may be reasonably neeess r ' provided that Trustor commences cure Within such sixty 6 day period and thereafter diligently prosecutes such cure to completion), after written notice specifying such failure and requesting that it be reiredied shall have been given to Trustor from the Beneficiary, shall be are "Event of Defaulf' or a "Default" under this Deed of Trust. Section 4.2 Acceleration of M . If an Event of Default shall have occurred and be continuing, then the entire indebtedness secured hereby shall, at the option of the Beneficiary, immediately become due and payable without notice or demand which are hereby expressly waived, and no omission on the part of the Beneficiary to exercise such option when entitled to do so shall be construed as a wai er of such right. Section 4.3 The Beneficiary's i ht to Enter and Take Possession. If an Event of efault shall have occurred and be continuing, the Beneficiary may: (a) in person or by agent, with or without bringing ally action or proceeding, or by a receiver appointed by a court, and without regard to the adequacy of its security, enter upon the Property and tale possession thereof or any part thereof) and of any of the Security, in its own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Property, or part thereof or interest therein, increase the income therefrom or protect the Security hereof and, with or without taking possession of the Property, sue for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including attorneys' fees, upon any indebtedness secured hereby, all in such order as Beneficiary may determine. The entering upon and taking possession of the Property, the collection of such rents, issues and profits and the application thereof, as aforesaid, shall not cure or waive any Default or notice of DefaUlt hereunder or invalidate any act done in response to such Default or pursuant to such notice of Default and, notwith stand ing the continuance in possession of the Property or the collection, receipt and application of rents, issues or profits, Beneficiary shall be entitled to exercise every right provided for in this Deed of Trust, the Agreement or by law upon occurrence of any Event of Default, including the right to exercise the power of sale. Trustor requests that a copy of any Notice of DefaUlt and a copy of any Notice of Sale hereunder be mailed to Trustor if at its address given herein; (b) Commence an action to foreclose this Deed of Trust, appoint a receiver, or specifically enforce any of the covenants hereof; (c) Deliver to Trustee a written declaration of default and demand for sale, and a written notice of default and election to cause Trustor"s interest in the property to be sold, ATTACHMENT NO. 9-4 D so 11 400673v 131200272 -0001