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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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g. If, pursuant to or within the meaning of the United States <br /> Bankruptcy Code or any other federal or state law relating to insolvency or relief of <br /> debtors ("Bankruptcy Law"), Trustor or any general partner thereof(i) commences a <br /> voluntary case or proceeding; (ii) consents to the entry of an order for relief against <br /> Trustor or any general partner thereof in an involuntary case; (iii) consents to the <br /> appointment of a trustee, receiver, assignee, liquidator or similar official for Trustor or <br /> any general partner thereof; (iv) makes an assignment for the benefit of its creditors; or <br /> (v) admits in writing its inability to pay its debts as they become due; <br /> h. If a court of competent jurisdiction enters an order or decree under <br /> any Bankruptcy Law that (i) is for relief against Trustor or any general partner thereof in <br /> an involuntary case, (ii) appoints a trustee, receiver, assignee, liquidator or similar <br /> official for Trustor or any general partner thereof or substantially all of such entity's <br /> assets, (iii) orders the liquidation of Trustor or any general partner thereof, or(iv) issues <br /> or levies a judgment, writ, warrant of attachment or similar process against the Property <br /> or the Project or any part thereof, and in each case the order or decree is not released, <br /> vacated, dismissed or fully bonded within sixty (60) days after its issuance; <br /> i. The holder of any other debt instrument secured by a mortgage or <br /> deed of trust on the Property or part thereof declares an event of default thereunder and <br /> exercises a right to declare all amounts due under that debt instrument immediately due <br /> and payable, subject to the expiration of any applicable cure period set forth in such <br /> holder's documents; <br /> j. Trustor fails to perform any obligation arising under this Deed of <br /> Trust other than one enumerated in this Section 8.1, and does not cure that failure <br /> either within ten (10) days after written notice from Beneficiary or Trustee in the event of <br /> a monetary default, or within thirty (30) days after such written notice in the event of a <br /> nonmonetary default, provided that in the case of a nonmonetary default that in <br /> Beneficiary's reasonable judgment cannot reasonably be cured within thirty (30) days, <br /> an Event of Default shall not arise hereunder if Trustor commences to cure such default <br /> within thirty (30) days and thereafter prosecutes such cure to completion with due <br /> diligence and in good faith and in no event later than ninety (90) days following receipt <br /> of notice of default; or <br /> 8.2 Remedies. Subject to the applicable notice and cure provisions set forth <br /> herein, at any time after an Event of Default, Beneficiary and Trustee shall be entitled to <br /> invoke any and all of the rights and remedies described below, and may exercise any <br /> one or more or all, of the remedies set forth in any City Document, and any other <br /> remedy existing at law or in equity or by statute. All of Beneficiary's rights and remedies <br /> shall be cumulative, and the exercise of any one or more of them shall not constitute an <br /> election of remedies. Beneficiary shall be entitled to collect all expenses incurred in <br /> pursuing the remedies provided hereunder, including without limitation reasonable <br /> attorneys' fees and costs. <br /> 17 <br /> OAK #4847-7399-4286 v3 <br />
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