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80A - JOINT - AMEND NSP
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80A - JOINT - AMEND NSP
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Last modified
9/16/2013 8:54:33 AM
Creation date
9/12/2013 5:48:44 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
80A
Date
9/16/2013
Destruction Year
2018
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Trustor takes such action as the Beneficiary may reasonably require to assure that the lien of <br />this Deed of Trust, the Beneficiary's interest in the Security and Truster's obligation to pay <br />the sums secured by this Deed of Trust shall continue unimpaired. Upon such payment and <br />cure by Trustor, this Deed of Trust and the obligations secured hereby will remain in full <br />force and effect as if no acceleration had occurred. <br />20. Acceptance by Trustee. Trustee accepts this Trust when this Deed of Trust, <br />duly executed and acknowledged, is made a public record as provided by law. Trustee is <br />not obligated to notify any party to this Deed of Trust of pending sale under any other deed <br />of trust or any action or proceeding in which Trustor, Beneficiary, or Trustee shall be a parry <br />unless brought by Trustee. <br />21. Reconveyance. Upon payment of all sums secured by this Deed of Trust, the <br />Beneficiary will request the Trustee to reconvey the Security and will surrender this Deed of <br />Trust and the City Note to the Trustee. The Trustee will reconvey the Security without <br />warranty and without charge to the person or persons legally entitled thereto. Such person <br />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 />have any personal liability under the Agreement, City Note, and this Deed of Trust and any <br />judgment, decree or order for payment of money obtained in any action to enforce the <br />obligation of Truster to repay the loan evidenced by such documents shall be enforceable <br />against Trustor only to the extent of Trustor's interest in the Property. <br />(Signatures on Following Page) <br />66 <br />80A-122
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