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VISTA DEL RIO HOUSING PARTNERS, L.P. 1C
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Last modified
1/29/2015 11:11:37 AM
Creation date
1/28/2015 5:41:30 PM
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Contracts
Company Name
VISTA DEL RIO HOUSING PARTNERS, L.P.
Contract #
A-2009-214-03
Agency
COMMUNITY DEVELOPMENT
Destruction Year
0
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of default and demand for sale, pursuant to the provisions for notice of sale found at California <br />Civil Code Sections 2924, et seq., as amended from time to time; or (e) exercise all other rights <br />and remedies provided herein, in the instruments by which Trustor acquires title to any Security, <br />or in any other document or agreement now or hereafter evidencing, creating or securing all or <br />any portion of the obligations secured hereby, or provided by law. <br />The Beneficiary shall be entitled to collect all reasonable costs and expenses incurred in <br />pursuing the remedies provided in this paragraph, including, but not limited to, reasonable <br />attorneys' fees. <br />Notwithstanding anything to the contrary contained in this Deed of Trust, the City hereby <br />agrees that any cure of any default made or tendered by the Limited Partner shall be deemed to <br />be a cure by Trustor and shall be accepted or rejected on the same basis as if made or tendered by <br />Trustor. Copies of all notices which are sent to Trustor under the terms of this Deed of Trust <br />shall also be sent to the Limited Partner at an address to be provided in writing to the City by the <br />Limited Partner. <br />19. Trustor's Right to Reinstate. Notwithstanding the Beneficiary's acceleration of the <br />sums secured by this Deed of Trust, Trustor will have the right to have any proceedings begun by the <br />Beneficiary to enforce this Deed of Trust discontinued at any time prior to 5 days before sale of the <br />Security pursuant to the power of sale contained in this Deed of Trust or at any time prior to entry of <br />a judgment enforcing this Deed of Trust if. (a) Trustor pays the Beneficiary all sums which would be <br />then due under this Deed of Trust and no acceleration under the Promissory Note has occurred; <br />(b) Truster cures all breaches of any other covenants or agreements Trustor contained in this Deed of <br />Trust and the Covenants; (c) Trustor pays all reasonable expenses incurred by the Beneficiary and the <br />Trustee in enforcing the covenants and agreements of Trustor contained in this Deed of Trust and the <br />Covenants, and in enforcing the Beneficiary's and the Trustee's remedies, including, but not limited <br />to, reasonable attorneys' fees; and (d) Trustor takes such action as the Beneficiary may reasonably <br />require to assure that the lien of this Deed of Trust, the Beneficiary's interest in the Security and <br />Trustor's obligation to pay the sums secured by this Deed of Trust shall continue unimpaired. Upon <br />such payment and cure by Trustor, this Deed of Trust and the obligations secured hereby will remain <br />in full force and effect as if no acceleration had occurred. <br />20. Acceptance by Trustee. Trustee accepts this Trust when this Deed of Trust, duly <br />executed and acknowledged, is made a public record as provided by law. Trustee is not obligated to <br />notify any party to this Deed of Trust of pending sale under any other deed of trust or any action or <br />proceeding in which Trustor, Beneficiary, or Trustee shall be a party unless brought by Trustee. <br />21. Reconveyance. Upon payment or forgiveness of all sums secured by this Deed of <br />Trust and expiration of the Term of the Agreement and the Term of the Affordability Restrictions, <br />the Beneficiary will request the Trustee to reconvey the Security and will surrender this Deed of <br />Trust and the Promissory 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 or persons <br />will pay all costs of recordation, if any. <br />22. Substitute Trustee. The Beneficiary, at the Beneficiary's option, may from time to <br />time remove the Trustee and appoint a successor trustee to any Trustee appointed hereunder. The <br />no <br />
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