My WebLink
|
Help
|
About
|
Sign Out
Browse
200807161
LFImages
>
Deeds
>
Deeds By Year
>
2008
>
200807161
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/19/2008 7:57:13 AM
Creation date
8/19/2008 7:57:10 AM
Metadata
Fields
Template:
DEEDS
Inst Number
200807161
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
22
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />08.06.2008 <br /> <br />200807161 <br /> <br />File No. 16-471 <br /> <br />Any party may at any time change its address for such notices by delivering to the other parties <br />hereto, as aforesaid, a notice of such change. <br /> <br />Section 6.06. Captions. The captions or headings at the beginning of each Section <br />hereof are for the convenience of the parties and are not a part of this Deed of Trust. <br /> <br />Section 6.07. Invaliditv of Certain Provisions: Conflictina Provisions. If the lien of <br />this Deed of Trust is invalid or unenforceable as to any part of the Secured Obligations, or if the <br />lien is invalid or unenforceable as to any part of the Mortgaged Property, the unsecured or <br />partially secured portion of the Secured Obligations shall be completely paid prior to the <br />payment of the remaining and secured portion of the Secured Obligations, and all payments <br />made on such obligations, whether voluntary or under foreclosure or other enforcement action <br />or procedure, shall be considered to have been first paid on and applied to the full payment of <br />that portion of the Secured Obligations which is not secured or fully secured by the lien of this <br />Deed of Trust. To the extent any conflict exists between the terms of the Commitment Letter <br />and the terms of the other Loan Documents, the terms of the other Loan Documents will govern. <br /> <br />Section 6.08. Subroaatlon. To the extent that proceeds of the Promissory Note or <br />advances under this Deed of Trust are used to pay any outstanding lien, charge or prior <br />encumbrance against the Mortgaged Property, such proceeds or advances have been or will be <br />advanced by Beneficiary at Trustor's request, and Beneficiary shall be subrogated to any and all <br />rights and liens held by any owner or holder of such outstanding liens, charges and prior <br />encumbrances, irrespective of whether said liens, charges or encumbrances are released of <br />record. <br /> <br />Section 6.09. Chanae in Ownership. If the ownership of the Mortgaged Property or <br />any part thereof or interest therein becomes vested in a person other than Trustor owning the <br />same on the date hereof, Beneficiary may, without notice to Trustor, deal with such successor <br />or successors in interest with reference to this Deed of Trust and the Secured Obligations in the <br />same manner as with Trustor without in any way vitiating or discharging Trustor's liability <br />hereunder or upon the Secured Obligations. No sale of the Mortgaged Property, and no <br />forbearance on the part of Beneficiary, and no extension of the time for the payment of the <br />Secured Obligations, given by Beneficiary, shall operate to release, discharge, modify, change <br />or affect the original liability, if any, of Trustor or the liability of any guarantors or sureties of <br />Trustor, either in whole or in part. <br /> <br />Section 6.10. Assianment of Beneficiary's Interest. It is expressly agreed that any <br />and all terms of this Deed of Trust, the other Loan Documents and all other agreements made <br />or executed by Trustor or others in favor of Beneficiary, and all rights, powers, privileges, <br />options and remedies conferred upon Beneficiary herein and therein, shall inure to and be for <br />the benefit of Beneficiary and may be exercised by Beneficiary, its successors and assigns, and <br />the word "Beneficiary" shall also mean and include the successor or successors and the assign <br />or assigns of Beneficiary and its successors and assigns. Trustor hereby specifically grants <br />unto Beneficiary the right and privilege, at Beneficiary's option, to transfer and assign to any <br />third person all or any part of Beneficiary's rights to receive funds or payments hereunder. <br /> <br />Section 6.11. Time Is of the Essence. Time is of the essence under this Deed of Trust <br />and the other Loan Documents. <br /> <br />Section 6.12. Reconvevance bv Trustee. Upon written request of Beneficiary stating <br />that all sums secured hereby have been paid and upon surrender of this Deed of Trust and the <br />Promissory Note to Trustee for cancellation and retention and upon payment by Trustor of <br />Trustee's fees, Trustee shall reconvey to Trustor, or the person or persons legally entitled <br />thereto, without warranty, any portion of the Mortgaged Property then held hereunder. The <br />recitals in such reconveyance of any matters or facts shall be conclusive proof of the <br />truthfulness thereof. <br /> <br />THE REMAINDER OF THIS PAGE IS INTENTIONAllY BLANK <br />SIGNATURE APPEARS ON THE FOllOWING PAGE <br /> <br />Deed of Trust, Security Agreement and Assignment of Rents, Page 19 <br />#553480-v1 <br />
The URL can be used to link to this page
Your browser does not support the video tag.