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SANTA ANA WBBB, LP 4
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Last modified
3/6/2017 1:21:10 PM
Creation date
4/6/2011 3:38:12 PM
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Contracts
Company Name
SANTA ANA WBBB, LP
Contract #
A-2011-051
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
3/7/2011
Destruction Year
0
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8. Protection of the Beneficiary's Security. If Trustor fails to perform the covenants and <br />agreements contained in this City Deed of Trust or if any action or proceeding is commenced which <br />materially affects the Beneficiary's interest in the Security, including, but not limited to, default <br />under the City Deed of Trust securing any senior lender, eminent domain, insolvency, code <br />enforcement, or arrangements or proceedings involving a bankrupt or decedent, then the Beneficiary, <br />at the Beneficiary's option, upon notice to Trustor, may make such appearances, disburse such sums <br />and take such action as it determines necessary to protect the Beneficiary's interest, including, but <br />not limited to, disbursement of reasonable attorneys' fees and entry upon the Security to make <br />repairs. <br />Any amounts disbursed by the Beneficiary pursuant to this paragraph, with interest thereon, <br />will become an indebtedness of Trustor secured by this City Deed of Trust. Unless Trustor and the <br />Beneficiary agree to other terms of payment, such amount will be payable upon notice from the <br />Beneficiary to Trustor requesting payment thereof, and will bear interest from the date of <br />disbursement at the rate payable from time to time on outstanding principal under the City <br />Promissory Note unless payment of interest at such rate would be contrary to applicable law, in <br />which event such amounts will bear interest at the highest rate permissible under applicable law. <br />Nothing contained in this paragraph will require the Beneficiary to insure any expense or take any <br />action hereunder. <br />9. Inspection. The Beneficiary may make, or cause to be made, reasonable entries upon <br />and inspections of the Security during normal business hours; provided that the Beneficiary will give <br />Trustor reasonable notice of inspection. <br />10. Forbearance by the Beneficiary Not a Waiver. Any forbearance by the Beneficiary in <br />exercising any right or remedy will not be a waiver of the exercise of any such right or remedy. The <br />procurement of insurance or the payment of taxes or other liens or charges by the Beneficiary will <br />not be a waiver of the Beneficiary's right to accelerate the maturity of the indebtedness secured by <br />this City Deed of Trust. <br />11. Remedies Cumulative. All remedies provided in this City Deed of Trust are distinct <br />and cumulative to any other right or remedy under this City Deed of Trust or any other document, or <br />afforded by law or equity, and may be exercised concurrently, independently or successively. <br />12. Successors and Assigns Bound. The covenants and agreements herein contained <br />shall bind, and the rights hereunder shall inure to, the respective successors and assigns of the <br />Beneficiary and Trustor subject to the provisions of this City Deed of Trust. <br />13. Joint and Several Liability. All covenants and agreements of Trustor shall be joint <br />and several. <br />14. Notice. Except for any notice required under applicable law to be given in another <br />manner, (a) any notice to Trustor provided for in this City Deed of Trust will be given by certified <br />mail, return receipt requested, addressed to Trustor at 414 East Chapman Avenue, Orange, <br />California, 92866, with copies to C&C Development Co., LLC at 14211 Yorba St., Ste. 200, Tustin, <br />CA 92780; (b) any notice to the Beneficiary will be given by certified mail, return receipt requested, <br />to the Beneficiary at 20 Civic Center Plaza, P.O. Box 1988, Santa Ana, California 92702, Attention: <br />Housing Manager, or at such other address as the Beneficiary may designate by notice to Trustor as <br />H-2-4 <br />DOCSOC/ 1469583v5/200272-0003
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