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80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
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80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J
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Last modified
1/3/2012 4:05:19 PM
Creation date
6/10/2010 1:10:58 PM
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City Clerk
Doc Type
Agenda Packet
Item #
80A
Date
6/7/2010
Destruction Year
2015
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Tr~xs#ol•, 111 addltlol~ tl~e fa~t• market val~re of ~ualrfied apltal Improvelner~ts consistel~t Zvi#h <br /> the 1'egUll'ell~ents Df ectlol~ hel'eof~ <br /> {l~} I]efet~l~~ina#io~l of les Price; App~~a~sa~~ <br /> ~i~ Upoll of #~le Proper`#y, In the ~ver~t of a ~ro~osed sale of tl~e <br /> Pr;oper•ty T~•~~toz4 that does trot car~~'al~~r~ fa e~fian herein, ~~id not lei than t111t~~ ~~0~ d~~r~ <br /> after ~e1~ef~C~a1'~ 1'eCelveS act~~al notrce ~f the ~pex~ing of escrow its connection the~'e~vitl~, tl~e <br /> Bet~eficiaa~~ tna~ elect to appoint a cel'tified, tncleperrdent appraiser to cox~d~~ct a~a appraisal of tl~e <br /> Pl'opert~, at Tr~~stol•'s expense, to assist Bene~ciatt~ in determining if the Sales Pr~ee is at ar gear' <br /> the fail lnarket value of the Proper't~ at such tirrre~ If the Sales Price i deterlrlined b~ the <br /> appraisal to be t~~ree percent ~3°Io~ ar lI]Dl'e hela~v tl~e fail• r~larkef value of tl~e Propelt~r as <br /> estimated il~ paid appraisal, then tl~e "Sales Price" for' purposes of deterr~~lrring tl7e antinger~t <br /> ~grrity Participation Alna~rl~t shall be tl~e fair lnarket vai~~e of the Prope~'ty established in said <br /> ~~~'aisal, <br /> ~rr~ Upox~ Ref~r~az~ci~~gl~i~rire fo ~ccripy~Defaul#. Ili the ever7t of <br /> r'e~nallcing, failure to accup~ tine P1'opex+ty i~~ acco~•dat~ce ~vitl~ Section '1 of the Agreement, or an <br /> ~vr~e~'sl~~p Default Mich causes the dote Ar7~ol~l~t 111Cluding tl~e ~Qlltll~.ge~]t 1~c~~~~t~ Pa~•ticipation <br /> An~our~t to become ilrll~ediate~y due and payable, the "Sales Price" for pul'poses of det~'~r~ining <br /> the ontinger~t ~q~~lty Par•tlc~pat~on A~nor~nt shall be deter}mined b~ an appraisal of the Pl'aper•t~. <br /> The Berleflclary Shall appo111t ~ ce~'t~fied ~rldependet~t ap~'alsel• to col~duct an appralsal of the <br /> P1•operty, at tl~e Tl'uStal''S expense, The Trustor agrees that 11~ s~~cia eve~~t the ~o~~tllier~t ~~r~~t~ <br /> Participation ~mor~nt shall be the ~arlable Applicable Pactor• rnr~ltiplied b~ the diffl'er~ce <br /> between tl~e Purchase Priice and "Sales Price" as established b~ the appl'aised value of tl~e <br /> Proper~~~ at tl~e tune of s~~cl~ re~ix~anci~~g~ failure to occupy, or other Ownership Default of the <br /> Areerr~ent. <br /> ~i~ Tt~uSf~x~' Ae~~t~a~~~edgrYtent of ion#~nerl# I~q~li#y <br /> Par~f~cl~atlo~r Amou~rt~ <br /> TRL~ST~R A1I~''IJI;I~GI~ ANA ARIt~I~~S `TEAT UPON <br /> SA~I+~, TRAN~R, OR RIt~PI~ANIN T~IIt~ <br /> PR~P~RT~' TEAT ~~E NAT ~~NII'I~Y IT~I SI~1TI~N <br /> HERI~IN, AN~]1I~R UPON AN'Y ~TI3~R DE~`AUUT THAT <br /> CATIS~ AN 11~I+~NT 0~` A~~~I~RATY~N A SST I'~RTH <br /> YN "TIN PR~~R TO T~II~~ F~RT~~~`II`TH <br /> ANN~~~RSAR~ ~r T~~ R~~RDATII~N ~AT~ a~ <br /> TINS A~N~ r TRUST, TItUSTR <br /> T~ I~I~~N~PIIAR~ I~ ADDITION T~ T~II~ A~I~~C'~ <br /> ~I~AN ANI~IJNT, A ~NTINI;NT I~~UITY <br /> PARTIIPATI~N ANI~UNT I1~UA T A PER~NTA~ <br /> S~AR~ THI~1 APPRI+~IATI~N TI~~ PRI~P~RT~ A <br /> AI~~I]~AT~D PURSUANT T THIS SI~~TI~N , <br /> T~~us#or~s I~ritials; <br /> ~~IIBIT T~ ATTAI~NT N~. ~ ~ <br /> To Deed of Trust ~vitll Asil~lnent of Dents <br /> Rider to Deed ofTrust <br /> <br /> DOCOC~I ~~0G73v 131202?~-Q~~ 1 <br /> <br />
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