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201502756
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Last modified
5/12/2015 10:17:56 AM
Creation date
4/30/2015 4:31:46 PM
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DEEDS
Inst Number
201502756
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201502751i <br />grants to Trustee and Beneficiary, subject only to the Permitted Liens, a security interest in the <br />Personalty, Fixtures, Plans, Leases, Rents and Property Agreements and all other Mortgaged <br />Property which is personal property to secure the payment of the Indebtedness and <br />performance of the Obligations, and agrees that Beneficiary shall have all the rights and <br />remedies of a secured party under the UCC with respect to such property. Any notice of sale, <br />disposition or other intended action by Beneficiary with respect to the Personalty, Fixtures, <br />Plans, Leases, Rents and Property Agreements sent to Grantor at least 5 days prior to any <br />action under the UCC shall constitute reasonable notice to Grantor. <br />6.2 Financing Statements. Grantor shall deliver to Beneficiary and authorize <br />Beneficiary to file, in form and substance satisfactory to Beneficiary, such Financing Statements <br />and such further assurances as Beneficiary may, from time to time, deem necessary to create, <br />perfect and preserve Beneficiary's security interest under this Deed of Trust and the other <br />Collateral Agreements and Beneficiary may cause such statements and assurances to be <br />recorded and filed, at such times and places as may be required or permitted by Law to so <br />create, perfect and preserve such security interest. Grantor's chief executive office is in the <br />District of Columbia at the address set forth in the first paragraph of this Deed of Trust. <br />6.3 No Obligation of Trustee or Beneficiary. The security interest herein granted <br />shall in no event cause Trustee or Beneficiary to be deemed or construed as a mortgagee in <br />possession of the Mortgaged Property, to obligate Trustee or Beneficiary to lease the <br />Mortgaged Property or attempt to do so, or to take any action, incur any expense or perform or <br />discharge any obligation, duty or liability whatsoever under any of the Leases or otherwise. <br />6.4 Fixture Filing. This Deed of Trust shall also constitute a "fixture filing" for the <br />purposes of the UCC against all of the Mortgaged Property which is or is to become fixtures. <br />Information concerning the security interest herein granted may be obtained at the addresses of <br />Debtor (Grantor) and Secured Party (Beneficiary) as set forth in the first paragraph of this Deed <br />of Trust. <br />6.5 Continuing Effect. It is expressly agreed that until such time as the Indebtedness <br />and Obligations have been paid and performed in full, or until the security interest granted <br />hereby has been released or partially released in writing by Beneficiary, this Deed of Trust shall <br />remain fully effective as a security agreement, notwithstanding that the Lien on real property <br />that is created by this Deed of Trust may be extinguished, released or partially released by <br />foreclosure of this Deed of Trust or otherwise. <br />ARTICLE 7 <br />CONCERNING THE TRUSTEE <br />7.1 Certain Rights. With the approval of Beneficiary, Trustee shall have the right to <br />select, employ and consult with counsel. Trustee shall have the right to rely on any instrument, <br />document or signature authorizing or supporting any action taken or proposed to be taken by <br />Trustee under this Deed of Trust and believed by Trustee in good faith to be genuine. Trustee <br />shall be entitled to reimbursement for actual, reasonable and necessary expenses incurred by <br />Trustee in the performance of its duties under this Deed of Trust. Grantor shall, from time to <br />time, pay the compensation due to Trustee under this Deed of Trust and reimburse Trustee for, <br />and indemnify, defend and save Trustee harmless against, all liability and reasonable expenses <br />which may be incurred by Trustee in the performance of its duties other than liability and <br />expenses incurred by Trustee resulting from Trustee's gross negligence or willful misconduct. <br />15 <br />
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