Laserfiche WebLink
14 <br />4860-6036-3710v2 <br /> 7.18 Cure; Protection of Security. Either Beneficiary or Trustee may cure any breach <br />or default of Trustor if Trustor fails to do so within the applicable cure period, and if it chooses <br />to do so in connection with any such cure, Beneficiary or Trustee may also enter the Property <br />and/or do any and all other things which it may in its sole discretion consider necessary and <br />appropriate to protect the security of this Deed of Trust. Such other things may include: <br />appearing in and/or defending any action or proceeding which purports to affect the security of, <br />or the 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 Trust, <br />such judgment of Beneficiary or Trustee to be conclusive as among Beneficiary, Trustee and <br />Trustor; obtaining insurance and/or paying any premiums or charges for insurance required to be <br />carried hereunder; otherwise caring for and protecting any and all of the Property; and/or <br />employing counsel, accountants, contractors and other appropriate persons to assist Beneficiary <br />or Trustee. Beneficiary and Trustee may take any of the actions permitted under this Section <br />7.18 either with or without giving notice, except for notices required under applicable law. Any <br />amounts disbursed by Beneficiary pursuant to this paragraph shall become additional <br />indebtedness secured by this Deed of Trust. <br /> 7.19 Limited Partners Right to Cure. Trustor’s limited partners shall have the right to <br />cure any default of Trustor hereunder upon the same terms and conditions afforded to Trustor. <br />Beneficiary shall provide any notice of default hereunder to the limited partners at the address set <br />forth in Section 11.2 below concurrently with the provision of such notice to Trustor. <br />8. Default and Remedies. <br /> 8.1 Events of Default. Trustor acknowledges and agrees that an Event of Default <br />shall occur under this Deed of Trust upon the occurrence of any one or more of the following <br />events. <br /> a. An event of default arises under any City Document and remains uncured <br />beyond the expiration of the applicable cure period set forth in such document; <br />b. Trustor fails to perform any monetary obligation which arises under this <br />Deed of Trust or any other City Document, and does not cure that failure within ten (10) days <br />following written notice from Beneficiary or Trustee; <br />c. Trustor’s interest in the Property or any part thereof is voluntarily or <br />involuntarily sold, transferred, leased, encumbered, or otherwise conveyed in violation of the <br />City Documents; <br />d. Trustor fails to maintain the insurance coverage required hereunder or <br />under the other City Documents and fails to cure such default within five (5) days, or Trustor <br />otherwise fails to comply with the requirements of Section 7.10 hereof and Trustor fails to cure <br />such default within the applicable time specified in Section 7.10; <br />e. Subject to Trustor’s right to contest such charges as provided herein, <br />Trustor fails to pay taxes or assessments due on the Land or the Improvements or fails to pay <br />when due any other charge that may result in a lien on the Land or the Improvements, and