RES 231425 - Laserfiche WebLink

occurred. 22.Termination of Restraints on Alienation. Notwithstanding any other provisions of the Note and Deed of Trust, any restrictions on alienability of the property such as those contained in paragraphs 3, 4 and 19 of this Deed of Trust, or elsewhere, shall terminate and have no further force or effect upon the happening of the following circumstances: A. The Department of Housing and Urban Development, a mortgagee or another party acquires title through foreclosure of senior lien; or a deed in lieu of foreclosure of a senior lien; B. AssignnBent of the prior and senior mortgage to the Department of Housing and Urban Development. 23.Appointment of Receiver: Lender in Possession. Upon acceleration under Section 20 hereof or abandonment of the Property, Lender, in person, by agent or by judicially appointed receiver shall be entitled to enter upon, take possession of, rent and manage the Property and to collect the rents of the Property. All rents collected by Lender or the receiver shall be applied first to payment of cost of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by senior deeds of trust and then this Deed of Trust. Lender and the receiver shall be liable to account only for those rents actually received. 24.Future Advances. Upon request of Borrower, Lender, at Lender's option prior to full reconveyance of the Property by Trustee to Borrower, may make Future Advances to Borrower. Such Future Advances, with interest thereon, shall be secured by this Deed of Trust when evidenced by promissory notes stating that said notes are secured by this Deed of Trust. 25.Reconveyance. Upon payment of all sums secured by this Deed of Trust, Lender shall request Trustee to reconvey the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this Deed of Trust to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled thereto. Such person or persons shall pay all costs of recordation, if any. 26.Substitute Trustee. Lender, at Lender's option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed under this Deed of Trust. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon the Trustee in this Deed of Trust and by applicable law. 27.Request for Notices. Borrower requests that copies of the notice of default and notice of sale be sent to Borrower's address which is the Property Address. Lender requests that any Notice of Default and/or Sale be sent to: City of Pleasanton, Housing 9