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Item A: Beam Development Purchase and Sale Agreement Terms
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Item A: Beam Development Purchase and Sale Agreement Terms
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5/16/2008 4:10:40 PM
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Agenda Item Summary
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5/21/2008
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<br /> <br />5.10Injunctive Relief. <br /> In addition to, but not in lieu of, any other rights hereunder, <br />Beneficiary shall have the right to institute suit and obtain a protective or mandatory injunction <br />to prevent a breach or default of, or to enforce the observation by Grantor of the agreements, <br />covenants, and terms, any condition contained herein. <br />ARTICLE VI <br />MISCELLANEOUS PROVISIONS <br /> <br />6.1Successors and Assigns Included in Parties. <br /> Whenever in this Deed of Trust <br />one of the parties hereto is named or referred to, the successors and assigns of such party shall be <br />included, and all covenants and agreements contained in this Deed of Trust by or on behalf of <br />Grantor or by or on behalf of Beneficiary shall include their respective successors and assigns, <br />whether so expressed or not. <br /> <br />6.2Invalid Provisions to Affect No Others. <br /> In case any one or more of the <br />covenants, agreements, terms or provisions contained in this Deed of Trust or in the Note or in <br />the other Loan Documents shall be invalid, illegal or unenforceable in any respect, the validity of <br />the remaining covenants, agreements, terms or provisions contained herein and in the Note and <br />in the other Loan Documents shall be in no way affected, prejudiced or disturbed thereby. <br /> <br />6.3Notices. <br /> Notices, statements and other communications to be given under the <br />terms of this Deed of Trust shall be in writing and delivered by hand against written receipt or <br />sent by certified or registered mail, return receipt requested, postage prepaid and addressed as <br />provided in the cover page of this Deed of Trust, or at such other address as from time to time <br />designated by the party receiving the notice. The date of mailing of such notices shall be deemed <br />the effective date of service. <br /> <br />6.4Maximum Principal Amount. <br /> This Deed of Trust shall secure the payment of <br />any additional amounts advanced, from time to time, by Beneficiary to Grantor under the Note or <br />other Loan Documents stating that such advances are secured hereby. All advances made by <br />Beneficiary with respect to the Premises for the payment of taxes, assessments, insurance <br />premiums, costs incurred for the protection of the Premises and other costs which Beneficiary is <br />authorized by this Deed of Trust or any other Loan Document to pay on Grantor's behalf, shall <br />be secured by this Deed of Trust. <br /> <br />6.5No Merger. <br /> If both the lessor's and lessee's estates under any lease or portion <br />thereof which constitutes a part of the Premises shall at any time become vested in one owner, <br />this Deed of Trust and the lien created hereby shall not be destroyed or terminated by application <br />of the doctrine of merger and, in such event, Beneficiary shall continue to have and enjoy all of <br />the rights and privileges of Beneficiary as to the separate estates. In addition, upon the <br />foreclosure of the lien created by this Deed of Trust on the Premises pursuant to the provisions <br />hereof, any leases or subleases then existing and created by Grantor shall not be destroyed or <br />terminated by application of the law of merger or as a matter of law or as a result of such <br />foreclosure unless Beneficiary or any purchaser at any such foreclosure sale shall so elect. No <br />act by or on behalf of Beneficiary or any such purchaser shall constitute a termination of any <br />lease or sublease unless Beneficiary or such purchaser shall give written notice thereof to such <br />tenant or subtenant. <br /> - 59 - <br /> <br /> <br />
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