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200507874
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Last modified
10/17/2011 11:05:21 AM
Creation date
10/28/2005 11:51:36 AM
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DEEDS
Inst Number
200507874
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200507874 <br />said trustee hereunder to said successor or substitute trustee. All references herein to "Trustee" shall be deemed to <br />refer to Trustee (including any successor or substitute appointed and designated as herein provided) from time to <br />time acting hereunder. <br />(f) No Liability of Trustee. TRUSTEE SHALL NOT BE LIABLE FOR ANY ERROR OF <br />JUDGMENT OR ACT DONE BY TRUSTEE IN GOOD FAITH, OR BE OTHERWISE RESPONSIBLE OR <br />ACCOUNTABLE UNDER ANY CIRCUMSTANCES WHATSOEVER (INCLUDING TRUSTEE'S <br />NEGLIGENCE), EXCEPT FOR TRUSTEE'S GROSS NEGLIGENCE OR MISCONDUCT. Trustee shall have <br />the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed <br />to be taken by it hereunder, believed by it in good faith to be genuine. All moneys received by Trustee shall, until <br />used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be <br />segregated in any manner from any other moneys (except to the extent required by law), and Trustee shall be <br />under no liability for interest on any moneys received by it hereunder. Trustee hereby ratifies and confirms any <br />and all acts which the herein -named Trustee or its successor or successors, substitute or substitutes, in this trust, <br />shall do lawfully by virtue hereof. <br />(g) Judgment on Environmental Provision. <br />(i) Judgment Sought. Pursuant to California Code of Civil Procedure §736, Lender may <br />bring an action (as such term is defined in California Code of Civil Procedure §22) for breach of contract <br />against Borrower for breach of any provision contained in Article XVI hereof (the "Environmental <br />Provision "), for the recovery of the Environmental Damages listed in Section (ii) hereof, and for the <br />enforcement of the Environmental Provision, whether the Environmental Provision is or was contained in <br />or secured by this Security Instrument and whether or not this Security Instrument has been discharged, <br />reconveyed or foreclosed upon. Notwithstanding the foregoing, no injunction for the enforcement of an <br />Environmental Provision may be issued after (x) satisfaction of the Debt or (y) transfer of Borrower's right, <br />title and interest in and to the "Real Property Security" (as such term is defined in California Code of Civil <br />Procedure §736(f)(4) in a bona fide transaction to an unaffiliated third party for fair value. <br />(ii) Damages. The damages that Lender may recover pursuant to Section (i) above shall be <br />limited to reimbursement or indemnification of the following (collectively, the "Environmental Damages"): <br />(w) if not pursuant to an order of any Governmental Authority relating to the cleanup, remediation, or other <br />response action required by any applicable rule promulgated by a Governmental Authority, those costs <br />relating to a reasonable and good faith cleanup, remediation, or other response action concerning a Release <br />(such term shall have the meaning ascribed to it under California Civil Code §2929.5 and under California <br />Civil Code of Procedure §726.5 and §736) or threatened release of Hazardous Materials which is <br />anticipated by the Environmental Provision; (x) if pursuant to an order of any Governmental Authority <br />which is anticipated by the Environmental Provision, all amounts reasonably advanced in good faith by <br />Lender in connection therewith, provided that Lender negotiated, or attempted to negotiate, in good faith to <br />minimize the amounts it was required to advance under the order; (y) indemnification against all liabilities <br />of Lender to any third party relating to the breach and not arising from acts, omissions or other conduct <br />which occur after Borrower is no longer an owner or operator of the "Real Property Security" in <br />accordance with the standards set forth in California Code of Civil Procedure §726.5(d) (for the purposes of <br />this Section (ii), the term "owner or operator" means those persons described in § 101(20)(A) of CERCLA); <br />and (z) attorneys' fees and costs incurred by Lender relating to the breach. Notwithstanding the foregoing, <br />the Environmental Damages recoverable by Lender shall not include (w) any part of the principal amount <br />or accrued interest of the Debt, except for any amounts advanced by Lender to cure or mitigate the breach <br />of any Environmental Provision that is added to the principal amount, and contractual interest thereon, or <br />(x) amounts which relate to a Release which was knowingly permitted, caused or contributed to by Lender <br />or any affiliate or agent of Lender. <br />(h) Waiver of Lien. Pursuant to the terms of California Code of Civil Procedure §726.5, Lender may <br />(i) waive its lien against (A) any parcel of "Real Property Security" that is "environmentally impaired" (as such <br />term is defined in California Code of Civil Procedure §726.5(e)(3)), or is an "affected parcel" (as such term is <br />81 <br />
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