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NORTH BROADWAY HOUSING PARTNERS LP (3)
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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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parking and landscape areas in good and neat order and repair; Trustor will not take (or fail to <br />take) any action, which if taken (or not so taken) would increase in any way the risk of fire or <br />other hazard occurring to or affecting the Security or otherwise would impair the security of <br />Beneficiary in the Security; Trustor shall comply with the provisions of all leases, if any, <br />constituting a portion of the Security, inclusive of the Ground Lease and all subsequent leases for <br />residents of the Property; Trustor shall not abandon the Security or any portion thereof or leave <br />the Security unprotected, unguarded, vacant or deserted; Trustor shall not initiate, join in or <br />consent to any change in any zoning ordinance, general plan, specific plan, private restrictive <br />covenant or other public or private restriction limiting the uses which may be made of the <br />Security by Trustor or by the owner thereof; Trustor shall secure and maintain in full force all <br />permits necessary for the use, occupancy and operation of the Security; except as otherwise <br />prohibited or restricted by the Loan Agreement and the other instruments and documents <br />executed in connection with the transaction to which the Loan Agreement pertains or any of <br />them, Trustor shall do any and all other acts which are reasonably necessary to protect or <br />preserve the value of the Security and the rights of Trustee and Beneficiary with respect thereto. <br />2.3. Granting of Easements. <br />Trustor may not grant easements, licenses, rights -of -way or other rights or privileges in <br />the nature of easements with respect to any property or rights included in the Security except <br />those required or desirable for installation and maintenance of public utilities including, without <br />limitation, water, gas, electricity, sewer, telephone and telegraph, or those required by law. <br />2.4. Agreement to Pay Attorneys' Fees and Expenses. <br />In the event of any Event of Default (as defined below) hereunder, and if the Beneficiary <br />should employ attorneys or incur other expenses for the collection of amounts due or the <br />enforcement of performance or observance of an obligation or agreement on the part of the <br />Trustor in this Deed of Trust, the Trustor agrees that it will, on demand therefor, pay to the <br />Beneficiary the reasonable fees of such attorneys and such other reasonable expenses so paid by <br />the Beneficiary; and any such amounts paid by the Beneficiary shall be added to the <br />indebtedness secured by the lien of this Deed of Trust, and shall bear interest from the date such <br />expenses are paid at the Agreed Rate (as defined in Section 3.1(d) below). <br />2.5. Payment of the Principal. <br />The Trustor shall pay to the Beneficiary the Principal and any other payments as set forth <br />in the Note in the amounts and by the times set out therein. <br />2.6. Fixture Filing and Security Agreement. <br />(a) To the maximum extent permitted by law, the personal property subject to this <br />Deed of Trust shall be deemed to be fixtures and part of the real property and this Deed of Trust <br />shall constitute a fixture filing under the California Commercial Code. As to any personal <br />property not deemed or permitted to be fixtures, this Deed of Trust shall constitute a security <br />agreement under the California Commercial Code and Trustor hereby grants to Beneficiary a <br />security interest in all of Trustor's right, title and interest, whether now existing or hereafter <br />7 <br />WISEPIace Permanent Supportive Housing <br />City HOME -ARP Deed of Trust <br />
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