Common use of Trustor’s Right to Reinstate Clause in Contracts

Trustor’s Right to Reinstate. If Trustor meets certain conditions, Trustor shall have the right to have enforcement of this Deed of Trust discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Deed of Trust; or (b) entry of a judgment enforcing this Deed of Trust. Those conditions are that Trustor: (a) pays Beneficiary all sums which then would be due under this Deed of Trust, the Loan Agreement, the Note and Covenant Agreement as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Deed of Trust, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Beneficiary may reasonably require to assure that the lien of this Deed of Trust, Beneficiary's rights in the Property and Trustor's obligation to pay the sums secured by this Deed of Trust shall continue unchanged. Upon reinstatement by Trustor, this Deed of Trust and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 22.

Appears in 1 contract

Samples: Loan Agreement

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Trustor’s Right to Reinstate. If Trustor meets certain conditions, Trustor shall have the right to have enforcement of this Deed of Trust discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Deed of Trust; or (b) entry of a judgment enforcing this Deed of Trust. Those conditions are that Trustor: (ai) pays Beneficiary all sums which that then would be due under this Deed of Trust, the Loan Agreement, the Note and Covenant Agreement Trust as if no acceleration had occurred; (bii) cures any default of any other covenants or agreements; (ciii) pays all expenses incurred in enforcing this Deed of Trust, including, but not limited to, reasonable attorneys' fees; and (div) takes such action as Beneficiary may reasonably reasonable require to assure that the lien of this Deed of Trust, Beneficiary's ’s rights in the Property and Trustor's ’s obligation to pay the sums secured by this Deed of Trust shall continue unchanged. Upon reinstatement by Trustor, this Deed of Trust and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 22paragraph 14.

Appears in 1 contract

Samples: Deed of Trust

Trustor’s Right to Reinstate. If Trustor meets certain conditionsNotwithstanding Beneficiary’s acceleration of the sums secured by this Deed of Trust, Trustor shall have the right to have enforcement of any proceedings begun by Beneficiary to enforce this Deed of Trust discontinued at any time prior to the earlier of: five (a5) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any the power of sale contained in this Deed of Trust; Trust or (b) at any time prior to entry of a judgment enforcing this Deed of Trust. Those conditions are that TrustorTrust if: (a) Trustor pays Beneficiary all sums which then would be then due under the Loan Documents if the Secured Obligations had no acceleration provision; (b) Trustor cures all breaches of any other covenants or agreements of Trustor contained in this Deed of Trust; (c) Trustor pays all reasonable expenses incurred by Beneficiary and Trustee in enforcing the covenants and agreements of Trustor contained in this Deed of Trust, the Loan Agreement, the Note and Covenant Agreement as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Deed of TrustBeneficiary’s and Trustee’s remedies as provided herein, including, but not limited to, reasonable attorneys' attorney’s fees; and (d) Trustor takes such action as Beneficiary may reasonably require to assure that the lien of this Deed of Trust, Beneficiary's rights ’s interest in the Property and Trustor's ’s obligation to pay the sums secured by this Deed of Trust shall continue unchangedunimpaired. Upon reinstatement such payment and cure by Trustor, this Deed of Trust and the obligations secured hereby shall remain fully effective in full force and effect as if no acceleration had occurred. However, this right to reinstate shall not apply Nothing contained in the case of acceleration under Section 22.Sections 9.3 and

Appears in 1 contract

Samples: Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing

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Trustor’s Right to Reinstate. If Trustor meets certain conditionsNotwithstanding Beneficiary’s acceleration of the sums secured by this Deed of Trust, or other actions taken in response to any Event of Default of Trustor, Trustor shall have the right to have enforcement of any proceedings commenced by Beneficiary, to enforce this Deed of Trust Trust, discontinued at any time prior to the earlier of: five (a5) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property Security pursuant to any the power of sale contained in this Deed of Trust; Trust or (b) at any time prior to entry of a judgment enforcing this Deed of Trust. Those conditions are that Trustor: (a) Trust if: a. Trustor pays Beneficiary all sums which then would be then due under this Deed of Trust, or the Loan AgreementNote, the Note and Covenant Agreement as if no acceleration had occurred; (b) applicable; b. Trustor cures any default all breaches of any other covenants or agreements; (c) pays all expenses incurred agreements of Trustor contained in enforcing this Deed of Trust, or the Note, as applicable c. Trustor pays all reasonable expenses incurred by Beneficiary and Trustee in enforcing the covenants and agreements of Trustor contained in this Deed of Trust, and in enforcing Beneficiary’s and Trustee’s remedies, including, but not limited to, reasonable attorneys' attorney’s fees, as applicable; and (d) and d. Trustor takes such action as Beneficiary may reasonably require to assure that the lien of this Deed of Trust, Beneficiary's rights ’s interest in the Property Security and Trustor's ’s obligation to pay the sums secured by this Deed of Trust shall continue unchangedunimpaired. Upon reinstatement such payment and cure by Trustor, this Deed of Trust and the obligations secured hereby shall remain fully effective in full force and effect as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 22.

Appears in 1 contract

Samples: Purchase and Sale Agreement

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