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03
City of Pleasanton
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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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10.6 Governing Law; Severability; Interpretation. This Deed of Trust shall be <br /> governed by the laws of the State of California without regard to principles of conflicts of <br /> laws. Trustor agrees that any controversy arising under or in relation to this Deed of <br /> Trust shall be litigated exclusively in the jurisdiction where the Land is located (the <br /> "Property Jurisdiction"). The state and federal courts and authorities with jurisdiction <br /> in the Property Jurisdiction shall have exclusive jurisdiction over all controversies which <br /> shall arise under or in relation to the City Documents. Trustor irrevocably consents to <br /> service,jurisdiction, and venue of such courts for any such litigation, and waives any <br /> other venue to which it might be entitled by virtue of domicile, habitual residence or <br /> otherwise. If any provision of this Deed of Trust is held unenforceable or void, that <br /> provision shall be deemed severable from the remaining provisions, and shall in no way <br /> affect the validity of this Deed of Trust. The captions used in this Deed of Trust are for <br /> convenience only and are not intended to affect the interpretation or construction of the <br /> provisions herein contained. In this Deed of Trust, whenever the context so requires, <br /> the singular number includes the plural. <br /> 10.7 Waiver, Modification and Amendment. Any waiver by Beneficiary of any <br /> obligation of Trustor hereunder must be in writing, and no waiver shall be construed as <br /> a continuing waiver. No waiver shall be implied from any delay or failure by Beneficiary <br /> or Trustee to take action on account of any default of Trustor. Consent by Beneficiary or <br /> Trustee to any act or omission by Trustor shall not be construed as a consent to any <br /> other or subsequent act or omission or to waive the requirement for Beneficiary's or <br /> Trustee's consent to be obtained in any future or other instance. No amendment to or <br /> modification of this Deed of Trust shall be effective unless and until such amendment or <br /> modification is in writing, executed by Trustor and Beneficiary. Without limiting the <br /> generality of the foregoing, Beneficiary's acceptance of payment of any sum secured <br /> hereby after its due date shall not constitute a waiver by Beneficiary of its right either to <br /> require prompt payment when due of all other sums so secured or to declare default for <br /> failure so to pay. <br /> 10.8 Action by Beneficiary. Except as may be otherwise specifically provided <br /> herein, whenever any approval, notice, direction, or consent by the Beneficiary is <br /> required or permitted under this Agreement, such action shall be in writing, and such <br /> action may be given, made or taken by Beneficiary's City Manager or by any person <br /> who shall have been designated by Beneficiary's City Manager, without further approval <br /> by the governing board of Beneficiary. <br /> 10.9 Joint and Several Liability. If Trustor consists of more than one person or <br /> entity, each shall be jointly and severally liable for the faithful performance of all of <br /> Trustor's obligations under this Deed of Trust. <br /> 10.10 Time is of the Essence. Time is of the essence for each provision of this <br /> Deed of Trust. <br /> 10.11 Partial Subordination to Extended Use Agreement. Trustor and the <br /> California Tax Credit Allocation Committee may enter into a Regulatory Agreement (the <br /> "TCAC Regulatory Agreement"), which constitutes the extended low-income housing <br /> 22 <br /> OAK #4847-7399-4286 v3 <br />
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