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32A - TRACT MAP - 1010 S HARBOR
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32A - TRACT MAP - 1010 S HARBOR
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Last modified
8/3/2015 10:45:13 AM
Creation date
7/30/2015 5:40:41 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Planning & Building
Item #
32A
Date
8/4/2015
Destruction Year
2020
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8. No Waiver. By accepting payment of anysum after its due date, <br />Beneficiary does neat waive Its right either to require prompt payment when due of <br />all other sums or declare a default for failure to pay. <br />9. Reconveyance. That upon written request of Beneficiary stating that <br />the Secured Obligations have been fulfilled, and upon surrender of this City <br />Dead of Trust, Trustee shall reconvey, without warranty, the property then held <br />hereunder. The recitals of such reconveyance of any matters or facts shall be <br />conclusive proof of the truthfulness thereof. The grantee in such reconvoyance <br />may be described as "the person or persons legally entitled themo." <br />to, Default and Foreclosure, Upon default by Truster in performance of <br />any Secured Obligation, Beneficiary may deliver to Trustee a declaration of <br />default and demand for sale and of a notice of default and a notice of sale, which <br />notice Trustee shall cause to be filed for record, Beneficiary also shall deposit with <br />Trustee this City Deed of Trust and all documents evidencing the Secured <br />Obligations and expenditures, if any, secured by this City Deed of Trust, Upon <br />default of any obligation secured by this City Deed of Trust and acceleration of all <br />sums due, if any, Beneficiary may instruct Trustee to proceed with a sale of the <br />Property under the power of sale granted in this City Deed of Trust, noticed <br />and held in accordance with California Civil Code Sections 2924, et seq., as <br />such statutes may be amended from time to time, Truster waives all rights it <br />may have to require marshaling of assets or to require sales of assets in any <br />particular order, including any rights under California Civil Code Sections 2899 <br />and 3433. <br />11. Substitution of Trustee. Beneficiary, or any successor beneficiary of <br />the Secured Obligations or of any indebtedness secured hereby, may from <br />time to time, by instrument In writing, substitute a successor or successors to <br />any Trustee named herein or acting hereunder, which instrument executed by <br />the Beneficiary and duly acknowledged and recorded In the office of the <br />recorder of the county or counties where the Property is situated, shall be <br />conclusive proof of proper substitution of such successor Trustee or Trustees, <br />who shall, without conveyance from the Trustee predecessor, succeed to all its <br />title, estate, rights, powers and duties. Said instrument must contain the name <br />of the original Truster, Trustee and Beneficiary hereunder, the book and page <br />where this City Deed of Trust is recorded and the name and address of the new <br />Trustee. <br />Kluziorwy Housing covenants Da-cliratlm Page 16 <br />Assumption Agmement January .1015 <br />32A -134 <br />
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