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GARNSEY, LP-2011
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Last modified
5/26/2016 4:48:57 PM
Creation date
5/23/2016 4:40:34 PM
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Contracts
Company Name
GARNSEY, L.P.
Contract #
A-2011-104
Agency
Community Development
Council Approval Date
4/4/2011
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cure by Trustor and shall be accepted or rejected on the same basis as if made or tendered by <br />Trustor. <br />The Beneficiary shall be entitled to collect all reasonable costs and expenses <br />incurred in pursuing the remedies provided in this paragraph, including, but not limited to, <br />reasonable attorneys' fees. <br />19. Trustor's Right to Reinstate. Notwithstanding the Beneficiary's acceleration <br />of the sums secured by this Deed of Trust, Trustor will have the right to have any <br />proceedings begun by the Beneficiary to enforce this Deed of Trust discontinued at any time <br />prior to 5 days before sale of the Security pursuant to the power of sale contained in this <br />Deed of Trust or at anytime prior to entry of a judgment enforcing this Deed of Trust if.- (a) <br />Trustor pays the Beneficiary all sums which would be then due under this Deed of Trust and <br />no acceleration under the City Note has occurred; (b) Trustor cures all breaches of any other <br />covenants or agreements of Trustor contained in this Deed of Trust; (c) Trustor pays all <br />reasonable expenses incurred by the Beneficiary and the Trustee in enl'oreing the covenants <br />and agreements of Trustor contained in this Deed of Trust and in enforcing the Beneficiary's <br />and the Trustee's remedies, including, but not limited to, reasonable attorneys' fees; and (d) <br />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 Trustor'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 party <br />unless brought by Trustee. <br />21. Reconveyance. Upon payment of all sures 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 />7 <br />
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