25B - AGMT - 815 N HARBOR LOAN - Laserfiche WebLink

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TOGLiTfHH R with the right, power and authority during the continuance of these Trusts, to collect the rents, issues, and profits of the Property, reserving; unto the Trustor the righit, prior to aray default by Trustor in payment of the uidebtedness secured by this Deed of TT Uqt or in the peribunani e of any agreement under this Deed of Trust, to collect and retain these rents, issues and profits as they become due and payable; anti, TOGETHER with all articles o rpei:.onal pivperty or fixtures now or hereafter attached to or used in and about the building or buildings now erected, or hereafter to be erected, on the Property which are necessary to the complete and comfortable use and -- occupancy of such building or buildings for the purposes ror which they were or are to be crested, including all other goods and chattels and personal property as are ever used or furnished in operating a building, or the activities conducted therein, similar to the orke herein described and referred to, and all renewals or replacements thereof or articles in substitution therefor, whether or not the same are, or shall be attached to said building or buildings in any manner, and all ofthe foregoing, together with the Property, is herein referred to as f -IQ "Security To have and to hold the Security together with acquittances to the Trustee„ its successors and assigns forever„ TO SECURE to the Beneficiary (a) the repayment o£the surns evidenced by a. Promissory Note to the Beneficiary executed by Trustor of even date herewith in the principal amount of Three hundred Eighty Thousand Dollars ($380,000,00) (the "c ity Promissory Note'); (b) the performaricc of the covenants and agreements of Borrower contained in a certain Agreement as hereinafter defined; and (c) the payinent of all other :sums, with interest therefr, advanced in accordance herewith to protect the sccutity of"this Deed of Trust, and the peifonnauace of the covenatits and agreements of Tmstor contained herein. TRUSTOR AND THE BENEFICIARY COVENANT AND AGREE AS FOLLOWS. 1. Tire A€tracinent. This deed of Trust is executed and delivered, along with the City HOME promissory Note and the Loan Agreements, to benefit the Property. A copy of said Agreements is on file as a public meovd, with the Beneficiary and is incorporated herein by reference. Trtistor acknowledges that but for the execution of this Decd or Trust, the Beneficiaty would not enter into the Agreement or City KOME Promissory Note secured by this Heed of Trust. 2, Trustur'ts Estate. Truster is lawfully seized of the estate hereby conveyed and has the right to grunt and convey the Security; thatother thavri this Deed of Trust, the Security is not encumbered except for obligations secured by deeds of trust, or any other security agreement, to secure financing or refinancing for the purchase and rehabilitation of the Property.. 25B -58