|
empowers Beneficiary as attorney -in -fact for Truster to make proof of loss, to
<br />adjust and compromise any claim under the insurance policies covering the
<br />Property, to appear in and prosecute any action arising from such insurance
<br />policies, to collect and receive insurance proceeds, and to deduct therefrom
<br />Beneficiary's expenses incurred in the collection of such proceeds; provided,
<br />however, that nothing contained in this Section shall require Beneficiary to Incur
<br />any expense or take any action hereunder. Truster hereby authortzes and
<br />empowers Beneficiary, at Beneficiary's option, as attorney-in -fact for Truster, to
<br />commence, appear in and prosecute, in Berieficiarys or Trustees name, any
<br />action or proceeding relating to any condemnation or other taking of all or any
<br />part of the Property, whether direct or indirect, and to settle or compromise any
<br />claim in connection with such condemnation or other taking. The proceeds of
<br />any award payment or claim for damages, direct or consequential, In connection
<br />with any condemnation or other taking, whether direct or indirect, of the Property,
<br />or any part thereof, or for conveyances in lieu of the Property, or any part thereof,
<br />shall be paid to Beneficiary. The foregoing powers of attorney are coupled with
<br />an interest and are irrevocable, Trustor hereby authorizes Beneficiary to apply
<br />such awards, payments, proceeds or damages relating to condemnation of the
<br />Property and insurance covering the Property, after the deduction of
<br />Beneficiary's expenses incurred in the collection of such amounts, at
<br />Beneficiary's option, subject to the requirements of applicable law and the
<br />provisions hereof, to restoration or repair of the Property or to payment of the
<br />sums secured by this City Deed of Trust, Beneficiary shall be under no
<br />obligation to question the amount of any compensation, awards, proceeds,
<br />damages, claims, rights of action, and payments relating to condemnation or other
<br />taking of the Property or insured casualty affecting the Property, and may accept
<br />the same in the amount in which the same shall be paid. Truster shall execute
<br />such further evidence of assignment of any awards, proceeds damages or
<br />claims arising in connection with such condemnation or taking or such insurance
<br />as Beneficiary may require.
<br />16. Severability. If any one or more of the provisions contained In this City
<br />Deed of Trust shall for any reason beheld to be invalid, illegal, or unenforceable
<br />in any respect, such Invalidity, illegality, or unenforceability shall not affect any
<br />other provisions of this City Deed of Trust, but this City Deed of Trust shall be
<br />construed as if such Invalid, illegal, or unenforceable provision had never been
<br />contained herein or therein, but only to the extent of such invalidity,
<br />ficlusionnty Housing Covenants D"laration Page 12
<br />A.mumirUon Agreement January 2015
<br />32A -136
<br />
|