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FRIENDS OF THE LACY HISTORIC NEIGHBORHOOD-2011
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FRIENDS OF THE LACY HISTORIC NEIGHBORHOOD-2011
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Last modified
3/28/2017 12:05:09 PM
Creation date
4/26/2011 10:53:10 AM
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Contracts
Company Name
FRIENDS OF THE LACY HISTORIC NEIGHBORHOOD
Contract #
A-2011-105
Agency
COMMUNITY DEVELOPMENT
Destruction Year
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exercising any such powers, pay necessary expenses, employ counsel and pay his reasonable <br />fees. <br />(S) To Pay immediately and without demand all sums so expended by <br />Beneficiary or Trustee, with interest from date of expenditure at the amount allowed by law in <br />effect at the date hereof, and to pay for any statement provided for by law in effect at the date <br />hereof regarding the obligation secured hereby any amount demanded by the Beneficiary not to <br />exceed the maximum allowed by law at the time when said statement is demanded. <br />B. It is mutually agreed: <br />(1) That any award of damages in connection with any condemnation for <br />public use of or injury to said property or any part thereof is hereby assigned and shall be paid to <br />Beneficiary who may apply or release such monies received by him in the same manner and with <br />the same effect as above provided for disposition of proceeds of fire or other insurance. <br />(2) That by accepting payment of any sum secured hereby after its due date, <br />Beneficiary does not waive his right either to require prompt payment when due of all other sums <br />so secured or to declare default for failure so to pay. <br />(3) That at any time or from time to time, without liability therefor and <br />without notice, upon written request of Beneficiary and presentation of this Deed and said note <br />for endorsement, and without affecting the personal liability of any person for payment of the <br />indebtedness secured hereby, Trustee may: reconvey any part of said property; consent to the <br />making of any map or plat thereof; join in granting any easement thereon; or join in any <br />extension agreement or any agreement subordinating the lien or charge hereof. <br />(4) That upon written request of Beneficiary stating that all sums secured <br />hereby have been paid, and upon surrender of this Deed and said note to Trustee for cancellation <br />and retention or other disposition as Trustee in its sole discretion may choose and upon payment <br />of its fees, Trustee shall reconvey, without warranty, the property then held hereunder. The <br />recitals in such reconveyance or any matters or facts shall be conclusive proof of the truthfulness <br />thereof. The Grantee in such reconveyance may be described as "the person or persons legally <br />entitled thereto." <br />(5) That as additional security, Trustor hereby gives to and confers upon <br />Beneficiary the right, power and authority, during the continuance of these Trusts, to collect the <br />rents, issues and profits of said property, reserving unto Trustor the right, prior to any default by <br />Trustor in payment of any indebtedness secured hereby or in performance of any agreement <br />hereunder, to collect and retain such rents, issues and profits as they become due and payable. <br />Upon any such default, Beneficiary may at any time without notice, either in person, by agent, or <br />by a receiver to be appointed by a court, and without regard to the adequacy of any security for <br />the indebtedness hereby secured, enter upon and take possession of said property or any part <br />thereof, in his own name sue for or otherwise collect such rents, issues, and profits, including <br />those past due and unpaid, and apply the same, less costs and expenses of operation and <br />collection, including reasonable attorney's attorneys' fees, upon any indebtedness secured <br />EXHIBIT B-2 TO ATTACHMENT NO. 11 <br />To Deed of Trust With Assignment of Rents <br />Non-Recordable Attachment <br />DO CSOC11400673v 141204272-0001
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