200004084 - Laserfiche WebLink

Browse

20006-4084 to obtain from lessor, under the Lease, such certificates of estoppel with respect to compliance by Trustor with the terms of the Lease which may be requested by Beneficiary. ARTICLE 4 Events of Default Each of the following shall be deemed to be an "Event of Default ": 4.1 The failure to obtain and keep in force at all times all insurance on the Premises and contents thereof and other insurance coverages in accordance with the terms of the Loan Agreement and such failure continues for thirty (30) days after written notice is given by Beneficiary to Trustor in accordance with the notice provision in the Loan Agreement, provided, however, such failure shall not be an Event of Default if all liability and property insurance required under the Lease is in full force and effect with respect to the Premises; 4.2 The occurrence of any event of default or breach under the terms of the Lease, which event of default or breach remains uncured beyond any applicable grace or cure period under the terms of the Lease; and 4.3 The occurrence of any Event of Default under the Loan Agreement or any of the other Loan Documents. ARTICLE 5 Remedies 5.1 Beneficiary's Remedies. Upon the occurrence of an Event of Default, Beneficiary shall have the right to exercise all rights and remedies provided by law or in equity to which Beneficiary is entitled, including without limitation, (a) the right to proceed to protect and enforce its rights by any action at law, in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or for an injunction against a violation of any of the terms, conditions, or provisions hereof or in the aid of the exercise of any power granted hereby or by law; (b) the right to declare the entire amount of the Notes and all interest thereon, or, at its option, any part of the foregoing, to be immediately due and payable without further demand or notice; (c) the right to, at any time or from time to time, proceed at law or in equity or otherwise to cause all or any part of the Premises to be sold under power of sale or to foreclose the lien on this Deed of Trust in the manner provided by law for the foreclosure of mortgages as against all or any part of the Premises; (d) upon the filing of a suit or other commencement of judicial proceeding to enforce the rights of Beneficiary under this Deed of Trust, Beneficiary shall be entitled, as a matter of right, to the appointment of a receiver or receivers of the Premises and to receive all receipts LEASEHOLD DEED OF TRUST 692960.5