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25B - AGMT - 815 N HARBOR LOAN
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02/17/2015
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25B - AGMT - 815 N HARBOR LOAN
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Last modified
2/12/2015 4:45:31 PM
Creation date
2/12/2015 4:13:11 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
25B
Date
2/17/2015
Destruction Year
2020
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document, or afforded by lave or equity, and may be exercised concurrently, independently <br />or successively; <br />12. Successors: and Assi its Bound The covenants and agreernoils :herein <br />contained shall bind, and the rights hereunder shall inure to, the respective successors and <br />ussil is of khe Beneficiary and Trustor subject to the provisions of this Decd ofTrust. <br />13. Joint and Several Liability, All covenants and agreements of Trustor shall be <br />joint and severs <br />14. Notice. Except for any notice required under applicable law to be giveri.in <br />another manner, (a) any notice to Truster provided for in. this City Deed of Trust will be <br />given by certified trail, return receipt requested, addressed to Trustor at 414 Fast Chapman <br />Avenue, Orange, California, 92866; with copies to C&C Properties Group t, LLC at <br />11211 Yorba St., State 200, Tustin; Califurntiia 92870 (b) any notice to the floneficiary will <br />be given by certified mail, return receipt requested, to the Benc riic lry at 20 Civic Center <br />Plaza, P.O. Box 1988, Santa Ana, California 927012, Attentiow Rousing Manager, or at such <br />other address as the Beneficiary may designate by notice to Truster as provided above, and <br />(c) to Trustee at 8121 C. Florence Avenue, Downey, California 90240. Notice shall be <br />effective as of the date received as shown on the return receipt. <br />15, Governing L aw, This Decd ofTntst shall be governed by the haws of the <br />State ofCalifornia with venue in Orange County. <br />16. 5everability. in the event that any provision or clause of this Deed of Trust <br />or the City Loan Note conflicts wv itb applicable law, such conflict will not affect other <br />provisions o r this Dmi of Trust or the City Note which can be given affect without the <br />conflicting provision, and to this end the provisions of the Deed of "rust and the City Loan <br />Note are declared to be severable. <br />17. Captions, The captions and headings in this Decd of Trust are for <br />convenience only and are not to be used to interpret or dcfrne the provisions- herenf. <br />18. Default in Foreclosure; Rernedi , Upon Truster's breach of any oovenant or <br />agreement of Trustor in this Deed of Trust or the City Note: secured by this Deed orTrust, <br />inclWing, but not limited t©, the covenants to pay, when due, any sutras secured by this Decd <br />of Trust, the Beneficiary may declare all sums secured by this Doed of Trust inanediately <br />due and payable by delivering to Trustornotice thereof specifying; (l) The breach„ (Z) the <br />action required to cure such breach; (d) a date not less than 30 days from the date the notice <br />is received by Trtistor as shown on the return receipt, by which such breach is to be cured <br />provided, however, that if such default is not reasonable susceptible to being cured within 30 <br />clays, Trustor shall have a reasonable period to cure the defect so long as Tivstor is diligently <br />prosecuting the cure to completion, and (4) that failure to cure such breach on or before the <br />date specified in rite notice may result in acceleration of the sums secured lay this Deed of <br />Trust and sale of the Security The notice will also inform Truster ol'Trustor's right to <br />5 <br />25B -61 <br />
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