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12. Successors and Assigns. This City Deed of Trust applies to, inures to
<br />he benefit arandi -binds all sa�tfies hereto, thelr`helrs, legatees, devisees,
<br />administrators, executors, successors and assigns. The term 'Beneficiary" shall
<br />mean the holder, including pledgees, of the covenants set forth in the
<br />Inclusionary Housing Covenants Declaration whether or not named as
<br />Beneficiary herein.
<br />13. Trustee Acceptance. Trustee accepts this trust when this City Deed of
<br />Trust, duly executed and acknowledged, is made a public record as provided by
<br />law. Trustee is not obligated to notify any party hereto of pending sale under any
<br />other deed of trust or of any action or proceeding in which Truster, Beneficiary or
<br />Trustee shall be a party unless brought by Trustee.
<br />14. Further Assurances. Truster shall, at its own cost and expense,
<br />do, execute, acknowledge, and deliver all and every such further acts, deeds,
<br />conveyances, mortgages, assignments, notices of assignments, transfers, and
<br />assurances as Trustee or Beneficiary shall from time to time require, for better
<br />assuring, conveying, assigning, transferring, and confirming unto Trustee the
<br />Property and rights hereby conveyed or assigned or Intended now or hereafter
<br />so to be, or which Truster may be or may hereafter become bound to convey or
<br />assign to Trustee, or for carrying out the intention or facilitating the performance
<br />of the terms of this City Deed of Trust, or for filing, registering, or recording this
<br />City Deed of Trust. Truster shall, on demand, execute and deliver, and hereby
<br />authorizes Trustee and Beneficiary, or either of them, to execute in the name of
<br />Truster, to the extent it may lawfully do so, one or more financing statements,
<br />chattel mortgages, or comparable security instruments, to evidence more
<br />effectively the lien hereof. Immediately upon the execution and delivery of this
<br />City Deed of Trust, and thereafter from time to time, Trustor shall cause this
<br />City Deed of Trust, and any security instruments creating a lien or evidencing
<br />the lien hereof upon any personal property and each instrument of further
<br />assurance, to be filed, registered, or recorded in such manner and in such
<br />places as may be required by any present or future law in order to publish
<br />notice of and fully to protect the lien hereof upon, and the title of Trustee to, the
<br />Property encumbered hereby.
<br />15. Condemnation and Insurance Proceeds. Immediately upon
<br />obtaining knowledge of the institution of any proceedings for the condemnation
<br />or other taking of all or any portion of the Property, or knowledge of any
<br />casualty damage to the Property, or damage in any other manner, Trustor shall
<br />immediately notify Beneficiary thereof. Truster hereby authorizes and
<br />Inclusionary Housing Covenants Declaration Page 11
<br />Assumption Agreement January 2016
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