My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS)
Clerk
>
Contracts / Agreements
>
T
>
TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/29/2019 10:27:03 AM
Creation date
4/29/2019 10:25:43 AM
Metadata
Fields
Template:
Contracts
Company Name
TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS)
Contract #
A-2019-058-01
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
4/16/2019
Destruction Year
0
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
46
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
which are necessary to the complete and comfortable use and occupancy of such building or buildings <br />for the purposes for which they were or are to be erected, including all other goods and chattels and <br />personal property as are ever used or furnished in operating a building, or the activities conducted <br />therein, similar to the one herein described and referred to, and all renewals or replacements thereof <br />or articles in substitution therefor, whether or not the same are, or shall be attached to said building <br />or buildings in any manner; and all of the foregoing, together with the Property, is herein referred to <br />as the "Security'; <br />To have and to hold the Security together with acquittances to the Trustee, its successors and <br />assigns forever; and, <br />TO SECURE to the Beneficiary: (a) the repayment of the sums evidenced by a Promissory <br />Note to the Beneficiary executed by Trustor of even date herewith in the principal amount of one - <br />million, three -hundred thousand dollars ($1,300,000) (the "Inclusionary Promissory Note"); (b) the <br />performance of the covenants and agreements of Borrower contained in a certain Agreement as <br />hereinafter defined; and, (c) the payment of all other sums, with interest thereon, advanced in <br />accordance herewith to protect the security of this Deed of Trust; and the performance of the <br />covenants and agreements of Trustor contained herein. <br />TRUSTOR AND THE BENEFICIARY COVENANT AND AGREE AS FOLLOWS: <br />1. The Agreement. This Deed of Trust is executed and delivered, along with the <br />Inclusionary Promissory Note, the Inclusionary Loan Agreement, and Affordability Restrictions on <br />Transfer of Property to benefit the Property. A copy of said Inclusionary Loan Agreement is on file <br />as a public record with the Beneficiary and is incorporated herein by reference (the "Agreement"). <br />Trustor acknowledges that but for the execution of this Deed of Trust, the Beneficiary would not enter <br />into the Agreement or Inclusionary Promissory Note secured by this Deed of Trust. <br />2. Trustor's Estate. Trustor is lawfully seized of the estate hereby conveyed and has the <br />right to grant and convey the Security; that other than this Deed of Trust, the Security is not <br />encumbered except for obligations secured by deeds of trust, or any other security agreement, to <br />secure financing or refinancing for the purchase and rehabilitation of the Property. <br />3. Repernent of the Loan. Trustor will promptly repay, when due, the principal loan <br />amount, as required by the Inclusionary Promissory Note secured by this Deed of Trust. <br />4. Subordination. This obligation secured by this Deed of Trust shall be subordinated to <br />the Senior Loan and the Senior Loan Deed of Trust, but the Inclusionary Affordability Restrictions <br />on Transfer of Property shall remain in a senior position to the Senior Loan and the Senior Loan Deed <br />of Trust. <br />5. Prior Mortgages and Deeds of Trust; Charges; Liens. Trustor shall perform all of <br />Trustor's obligations Linder any mortgage, deed of trust or other security agreement with a lien that <br />has priority over this Instrument, including Trister's covenants to make payments when due (subject <br />to all applicable notice and cure provisions). Trustor will pay all taxes, assessments and other charges, <br />fines and impositions attributable to the Security that may attain a priority over this Deed of Trust, by <br />Trustor making any payment, when due, directly to the payee thereof. Trustor will promptly firnish <br />to the Beneficiary all notices of amounts due under this paragraph, and in the event Trustor makes <br />2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.