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03
City of Pleasanton
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CITY CLERK
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2016
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030116
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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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7.15 Condemnation Proceeds. Subject to the rights of any senior lienholders, <br /> and the provisions of the Ground Lease, any award of damages in connection with any <br /> condemnation for public use of, or injury to the Property or any part thereof is hereby <br /> assigned and shall be paid to Beneficiary who may apply such moneys to any <br /> indebtedness secured hereby in such order as Beneficiary may determine, or at the <br /> option of Beneficiary the entire amount so collected or any part thereof may be released <br /> to Trustor. Such application or release shall not cure or waive any default or notice of <br /> default hereunder or invalidate any act done pursuant to such notice. <br /> 7.16 Release, Extension, Modification. At any time and from time to time, <br /> without liability therefor and without notice, upon written request of Beneficiary and <br /> presentation of this Deed of Trust and the Note for endorsement, Trustee may release <br /> or reconvey all or any part of the Property, consent to the making of any map or plat of <br /> the Land or part thereof,join in granting any easement or creating any restriction <br /> affecting the Property, or join in any extension agreement or other agreement affecting <br /> the lien or charge hereof. At any time and from time to time, without liability therefor <br /> and without notice, Beneficiary may (i) release any person liable for payment of any <br /> Secured Obligation, (ii) extend the time for payment or otherwise alter the terms of <br /> payment of any Secured Obligation; (iii) accept additional real or personal property of <br /> any kind as security for any Secured Obligation, or (iv) substitute or release any <br /> property securing the Secured Obligations. <br /> 7.17 Reconveyance. Upon written request of Beneficiary stating that all of the <br /> Secured Obligations have been paid in full, and upon surrender of this Deed of Trust, <br /> and the Note, Trustee shall reconvey, without warranty, the Property or so much of it as <br /> is then held under this Deed of Trust. The recitals in any reconveyance executed under <br /> this Deed of Trust of any matters or facts shall be conclusive proof of the truthfulness <br /> thereof. Trustor shall pay all fees of Trustee and all recordation fees related to such <br /> reconveyance. <br /> 7.18 Cure; Protection of Security. Upon the occurrence of an Event of Default, <br /> either Beneficiary or Trustee may cure any breach or default of Trustor if Trustor fails to <br /> do so within the applicable cure period, and if it chooses to do so in connection with any <br /> such cure, Beneficiary or Trustee may also enter the Property and/or do any and all <br /> other things which it may in its sole discretion consider necessary and appropriate to <br /> protect the security of this Deed of Trust. Such other things may include: appearing in <br /> and/or defending any action or proceeding which purports to affect the security of, or the <br /> rights or powers of Beneficiary or Trustee under, this Deed of Trust; paying, purchasing, <br /> contesting or compromising any encumbrance, charge, lien or claim of lien which in <br /> Beneficiary's or Trustee's sole judgment is or may be senior in priority to this Deed of <br /> Trust, such judgment of Beneficiary or Trustee to be conclusive as among Beneficiary, <br /> Trustee and Trustor; obtaining insurance and/or paying any premiums or charges for <br /> insurance required to be carried hereunder; otherwise caring for and protecting any and <br /> all of the Property; and/or employing counsel, accountants, contractors and other <br /> appropriate persons to assist Beneficiary or Trustee. Beneficiary and Trustee may take <br /> any of the actions permitted under this Section 7.18 either with or without giving notice, <br /> except for notices required under applicable law. Any amounts disbursed by Beneficiary <br /> 15 <br /> OAK #4847-7399-4286 v3 <br />
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