SR 05:219 - Laserfiche WebLink

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 one 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 TO HAVE AND TO HOLD the interest in the property hereinbefore described together with appurtenances to Trustee, its or his successors and assigns (the "Property") forever; and FOR THE PURPOSE of securing performance of each agreement and covenant of Trustor herein or contained in that certain Loan Agreement of even date herewith (the "Loan Agreement") between Trustor and Beneficiary, and that certain Regulatory Agreement and Declaration of Restrictive Covenants (the "Regulatory Agreement")ofeven date herewith, and securing payment of indebtedness of Trustor to Beneficiary in the principal sum of Two Million Four Hundred Ninety Thousand Dollars ($2,490,000), as evidenced by that certain promissory note (the "Note") of even date herewith. The Note, the Loan Agreement, and the Regulatory Agreement (collectively, the "Loan Documents") are incorporated herein by reference and this conveyance shall secure any and all extensions, amendments, modifications or renewals thereof however evidenced; AND TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES: 1. That it will pay the Note at the times and in the manner provided therein; 2. That the Loan Documents are incorporated in and made a part of this Deed of Trust. Upon default under any of the Loan Documents, Beneficiary, at its option, may declare the whole ofthe indebtedness secured hereby to be due and payable; 3. That all rents, profits and income from the Property are hereby assigned to Beneficiary for the purpose of securing the obligations of Trustor pursuant to the Loan Documents. Permission is hereby given to Trustor so long as no default exists hereunder, to collect such rents, profits and income for use in accordance with the provisions of the Loan Documents. 4. That upon default hereunder or under the aforementioned Loan Documents, Beneficiary shall be entitled to the appointment of a receiver by any court having jurisdiction, without notice, to take possession and protect the Property described herein and operate same and collect the rents, profits and income therefrom; 5. That Trustor will keep the improvements now existing or hereafter erected on the Property insured in accordance with the Lease; 6. That Trustor will pay, in accordance with the Lease, any taxes and assessments affecting said Property including assessments on appurtenant water stock; all encumbrances, charges and liens, with interest, on said Property or any part thereof which appear to be prior or superior hereto; all costs, fees, and expenses ofthis Trust; 2 144\105\217741.3