Laserfiche WebLink
occupancy of such building Or buildings frar the purposes for which they were or are to be <br />ereeted, inchidin,d all other goods and chattels and personal property as are ever used or <br />furnished to operating, a building, Or tine actrvitics conducted therein, srm.ilatr hn tlae o oc <br />herein described and rcJ'crrQd 1o, and all renewals ormplacenaents thereofor articles in <br />substitutiian therefor, whether or not the same a vie, or slaaall be .attached to said building cur <br />buildings in any manner; and all of'the+ liuregoing„ together with the E'ooperty, is herein <br />referred to as tine "Security',;, <br />'l'o lrave nand to hold the Security together with acaluittances to the Trustee, its <br />sureeessors and a4signs forever; <br />TO 7 SF.0 URF to the Beneficiary (a) the repayrrnent (if tine stirrxis evidenced by a <br />pronorwsor,y rncute to the Beneficiary exec Lied by "'d "u-ustor of cwcn date herewith in the <br />principal amount of One Million One Hundred. Ninety Nine 'Thousand and lsipht Ilundrerd. <br />Sixty Nine Dollars ($1.1 99,869 00) ('the "City Loan Note"); (b) the pearforniarec of'61w <br />covenants and agreements of ilorrower conhtaned in a ceata.in Loan. Agrecrnont as <br />lncn,ennaflea deliued; and (c) the payment ofall other sums, with interest thereon, advanced il'r <br />aeeoudaanee herewith to protect the sccaur rly Ofthis City Deed of T'rusl; and the 1.aerforniar'iec <br />of the covenants and agrecanents ot� `Prustor contained hcruin. <br />TRUSTOR AND TH F BM'1 IC'IARY C OVFNANT AND Jr.CalsFL: AS FOLLOWS: <br />1. The Loan Agrecincrit,. This City Deed is exwauted and delivered, <br />along; wwrith the City Loan NOW and the Loan Agreement, to henelil the Property. A copy of <br />said Loan Ag;rcement is err Pile as a8 public record with the Fpuanulicimy and is incorporated <br />herein by r efcrence (the "Agreement"). TruAor acknowledges that but for ifnu execution of <br />this City Decd of "f''raast, the 13cuefieioa ry would not enter into the Agreement or City Loan <br />Norte recurred by this City Deed oat "Trust- <br />2. Trustor's Estate. 1'rustoa is lawfully suircd of the estate hereby conveyed and <br />has tile, right to grant and ctaanwey the securoty; that Other than this City Deed atl "Tr rout„ the <br />Security ir,s not encumbered except for Obligations secured by deeds of`trursl, our any other <br />security agreement, to sccuce finaacin g; or refinancing fyar the larrrchase and rehabilitation of <br />the Property. <br />. Lgaayuacunt of�•the Loan. Trustor will promptly repay, wwhen clue, the <br />prurrcipal and interest, as required by the City Loan Note, sewed by tBnas City DCCd of'Trarst. <br />4. Subordination, This obligation secured by this City Deed oaf" ]'rust shear] be <br />subordinata:d to tlne Senior t.,oatrn and to the City Deed of rust and Notc. <br />5. 1'rnno Nltardgaages and L7ecds oi, I, "ra;ist {harks Liea I rustor. shall pert nrnr. <br />all 01"1`r•tuwtor'ti ohligatrons Under ,any nlor [gage, deed of trust or other sec•unt,y ag;accment <br />ww nth a lice which Naas priority over this dnsu urrna:nt, includirng Trustor "s covenants to make <br />payments when due (Subject to an applicable notiee and cure frroa� lions), Tnistor wit] pay <br />all taxes, a assessrancaats and Other charg exs, fines :rrud impositions attributable to tile, Security <br />I <br />25H -60 <br />