Laserfiche WebLink
Trust or in the performance of any agreement under this Deed of Trust, to collect and retain <br />these rents, issues and profits as they become due and payable; and, <br />TOGETHER with all articles of personal property or fixtures now or hereafter <br />attached to or used in and about the building or buildings now erected, or hereafter to be <br />erected, on the Property which are necessary to the complete and comfortable use and <br />occupancy of such building or buildings for the purposes for which they were or-are to be <br />erected; including all other goods and chattels and personal property as are ever used or <br />furnished in operating a building, or the activities conducted therein, similar to the one <br />herein described and referred to, and all renewals or replacements thereof or articles in <br />substitution therefor, whether or not the same are, or shall be attached to said building or <br />buildings in any manner; and all of the foregoing, together with the Property, is herein <br />referred to as the "Security"; <br />To have and to hold the Security together with acquittances to the Trustee, its <br />successors and assigns forever; <br />TO SECURE to the Beneficiary (a) the repayment of the sums evidenced by a <br />promissory note to the Beneficiary executed by Trustor, dated Af e-k t„ `2,'? TM , 2001, <br />in the principal amount of Four Hundred Fifty Thousand Dollars and 00 cents <br />($450,000.00) (the "Loan Note"); (b) the performance of the covenants and agreements of <br />Borrower contained in a certain Rehabilitation Loan Agreement and Use Covenant (the <br />"Agreement"), dated 1 ?- , 2001; and (c) the payment of all other sums, with interest <br />thereon, advanced in accordance herewith to protect the security of this Deed of Trust; and <br />the performance of the covenants and agreements of Trustor contained herein. <br />TRUSTOR AND THE BENEFICIARY COVENANT AND AGREE AS FOLLOWS: <br />l . The Rehabilitation Agreement. This Deed of Trust is executed and delivered, <br />along with the Loan Note, pursuant to and in implementation of that certain Rehabilitation <br />Loan Agreement and Use Covenant entered into by and between the Beneficiary and <br />Trustor dated _ ftX\ L- 21 , 2001.to benefit the PTpperty, a copy of which is on file as a <br />public record with the Beneficiary and is incorporated herein by reference (the <br />"Agreement"). Trustor acknowledges that but for the execution of this Deed of Trust, the <br />Beneficiary would not enter into the Agreement or Loan Note secured by this Deed of <br />Trust. <br />2. Trustor's Estate. Trustor is lawfully seized of the estate hereby conveyed and <br />has the right to grant and convey the Security; that other than this Deed of Trust, the <br />Security is not encumbered. <br />Attachment No. 6 <br />15.2 <br />65A-26