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03
City of Pleasanton
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2/25/2016 4:13:47 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
3/1/2016
DESTRUCT DATE
15Y
DOCUMENT NO
03
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to the Land and the Improvements. Trustor covenants and agrees that this Deed of <br /> Trust is to be filed in the real estate records of Alameda County and shall also operate <br /> from the date of such filing as a fixture filing in accordance with Section 9502 and other <br /> applicable provisions of the UCC. This Deed of Trust shall also be effective as a <br /> financing statement covering minerals or the like (including oil and gas) and accounts <br /> subject to the UCC, as amended. Trustor shall be deemed to be the "debtor" and <br /> Beneficiary shall be deemed to be the "secured party"for all purposes under the UCC. <br /> 7. Trustor's Representations, Warranties and Covenants; Rights and Duties of the <br /> Parties. <br /> 7.1 Representations and Warranties. Trustor represents and warrants that: <br /> (i) Trustor lawfully possesses and holds a leasehold interest in the Land, (ii) Trustor will <br /> hold a fee interest in the Improvements that Trustor will cause to be constructed on the <br /> Land pursuant to the Ground Lease, (iii) Trustor has good and marketable title to or a <br /> leasehold interest in all of the Property; (iv) other than as limited by the City Documents, <br /> Trustor has the full and unlimited power, right and authority to encumber Trustor's <br /> interests in the Property with this Deed of Trust and assign the Rents as contemplated <br /> herein; (iv) subject only to encumbrances of record and senior liens permitted pursuant <br /> to the City Documents or otherwise approved in writing by Beneficiary ("Permitted <br /> Encumbrances"), this Deed of Trust creates a valid lien on Trustor's entire interest in <br /> the Property; (v) except with respect to Permitted Encumbrances, Trustor holds a <br /> leasehold in the Land and will hold a fee interest in the Improvements Trustor will cause <br /> to be constructed on the Land pursuant to the Ground Lease free and clear of all deeds <br /> of trust, mortgages, security agreements, reservations of title or conditional sales <br /> contracts, (vi) there is no financing statement affecting the Property on file in any public <br /> office other than as disclosed in writing to Beneficiary; and (vii) the correct address of <br /> Trustor's chief executive office is specified in Section 10.2. <br /> Beneficiary agrees that it will not withhold consent to reasonable requests for <br /> subordination of this Deed of Trust to deeds of trust provided for the benefit of lenders <br /> identified in the Financing Plan approved in connection with the Loan Agreement, as <br /> such plan may be updated with Beneficiary's approval, provided that the instruments <br /> effecting such subordination agreement include reasonable protections to the <br /> Beneficiary in the event of default, including without limitation, extended notice and cure <br /> rights. <br /> 7.2 Condition of Property. Trustor represents and warrants that except as <br /> disclosed to Beneficiary in writing, as of the date hereof: (i) Trustor has not received <br /> any notice from any governmental authority of any threatened or pending zoning, <br /> building, fire, or health code violation or violation of other governmental regulations <br /> concerning the Property that has not previously been corrected, (ii) no condition on the <br /> Land violates any health, safety, fire, environmental, sewage, building, or other federal, <br /> state or local law, ordinance or regulation; (iii) no contracts, licenses, leases or <br /> commitments regarding the maintenance or use of the Property or allowing any third <br /> party rights to use the Property are in force; (iv) there are no threatened or pending <br /> actions, suits, or administrative proceedings against or affecting the Property or any <br /> 6 <br /> OAK #4847-7399-4286 v3 <br />
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