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NORTH BROADWAY HOUSING PARTNERS LP (3)
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Last modified
9/24/2024 3:36:56 PM
Creation date
4/18/2023 1:33:27 PM
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Contracts
Company Name
NORTH BROADWAY HOUSING PARTNERS LP
Contract #
A-2023-031-01
Agency
Community Development
Council Approval Date
3/7/2023
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8.8. Remedies Cumulative. <br />No right, power or remedy conferred upon or reserved to the Beneficiary by this Deed of <br />Trust is intended to be exclusive of any other right, power or remedy, but each and every such <br />right, power and remedy shall be cumulative and concurrent and shall be in addition to any other <br />right, power and remedy given hereunder or now or hereafter existing at law or in equity. <br />8.9. No Waiver. <br />(a) No delay or omission of the Beneficiary to exercise any right, power or <br />remedy accruing upon any Event of Default shall exhaust or impair any such right, power or <br />remedy, or shall be construed to be a waiver of any such Event of Default or acquiescence <br />therein; and every right, power and remedy given by this Deed of Trust to the Beneficiary may <br />be exercised from time to time and as often as may be deemed expeditious by the Beneficiary. <br />No consent or waiver, expressed or implied, by the Beneficiary to or any breach by the Trustor in <br />the performance of the Obligations hereunder shall be deemed or construed to be a consent to or <br />waiver of Obligations of the Grantor hereunder. Failure on the part of the Beneficiary to <br />complain of any act or failure to act or to declare an Event of Default, irrespective of how long <br />such failure continues, shall not constitute a waiver by the Beneficiary of its right hereunder or <br />impair any rights, power or remedies consequent on any Event of Default by the Grantor. <br />(b) If the Beneficiary (1) grants forbearance or an extension of time for the <br />payment of any sums secured hereby, (2) takes other or additional security or the payment of any <br />sums secured hereby, (3) waives or does not exercise any right granted in the Loan Agreement, <br />(4) releases any part of the Security from the lien of this Deed of Trust, or otherwise changes any <br />of the terms, covenants, conditions or agreements in the Loan Agreement, (5) consents to the <br />granting of any easement or other right affecting the Security, or (6) makes or consents to any <br />agreement subordinating the lien hereof, any such act or omission shall not release, discharge, <br />modify, change or affect the original liability under this Deed of Trust, or any other obligation of <br />the Grantor or any subsequent purchaser of the Security or any part thereof, or any maker, co- <br />signer, endorser, surety or guarantor (unless expressly released); nor shall any such act or <br />omission preclude the Beneficiary from exercising any right, power or privilege herein granted <br />or intended to be granted in any Event of Default then made or of any subsequent Event of <br />Default, nor, except as otherwise expressly provided in an instrument or instruments executed by <br />the Beneficiary shall the lien of this Deed of Trust be altered thereby. <br />8.10. Suits to Protect the Security. <br />The Beneficiary shall have power to: (1) institute and maintain such suits and <br />proceedings as it may in its reasonable discretion deem expedient to prevent any impairment of <br />the Security and the rights of the Beneficiary as may be unlawful or any violation of this Deed of <br />Trust, (2) preserve or protect its interest (as described in this Deed of Trust) in the Security, and <br />(3) restrain the enforcement of or compliance with any legislation or other governmental <br />enactment, rule or order that may be unconstitutional or otherwise invalid, if the enforcement for <br />compliance with such enactment, rule or order would impair the Security thereunder or be <br />prejudicial to the interest of the Beneficiary. <br />30 <br />WISEPIace Permanent Supportive Housing <br />City HOME -ARP Deed of Trust <br />
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