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01 -19 -1999
<br />Loan No
<br />identification number is unknown.
<br />DEED OF TRUST 200002045 Page 2
<br />(Continued)
<br />Trustor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all present and
<br />future leases of the Property and all Rents from the Property. In addition, Trustor grants Lender a Uniform Commercial Code security interest in the
<br />Rents and the Personal Property defined below.
<br />DEFINITIONS. The following words shall have the following meanings when used in this Deed of Trust. Terms not otherwise defined in this Deed of
<br />Trust shall have the meanings attributed to such terms in the Uniform Commercial Code. All references to dollar amounts shall mean amounts in
<br />lawful money of the United States of America.
<br />Beneficiary. The word "Beneficiary" means U.S. Bank National Association, its successors and assigns. U.S. Bank National Association also is
<br />referred to as "Lender" in this Deed of Trust.
<br />Borrower. The word "Borrower" means each and every person or entity signing the Note, including without limitation Kowalski Bros.
<br />Partnership.
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without limitation all
<br />assignment and security interest provisions relating to the Personal Property and Rents.
<br />Guarantor. The word "Guarantor" means and includes without limitation any and all guarantors, sureties, and accommodation parties in
<br />connection with the Indebtedness.
<br />Improvements. The word "Improvements" means and includes without limitation all existing and future improvements, buildings, structures,
<br />mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property.
<br />Indebtedness. The word "Indebtedness" means all principal and interest payable under the Note and any amounts expended or advanced by
<br />Lender to discharge obligations of Trustor or expenses incurred by Trustee or Lender to enforce obligations of Trustor under this Deed of Trust,
<br />together with interest on such amounts as provided in this Deed of Trust.
<br />Lender. The word "Lender" means U.S. Bank National Association, its successors and assigns.
<br />Note. The word "Note" means the Note dated January 19, 1999, in the principal amount of $150,000.00 from Borrower to
<br />Lender, together with all renewals, extensions, modifications, refinancings, and substitutions for the Note. NOTICE TO TRUSTOR: THE NOTE
<br />CONTAINS A VARIABLE INTEREST RATE.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter
<br />owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all
<br />replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance
<br />proceeds and refunds of premiums) from any sale or other disposition of the Property.
<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
<br />Real Property. The words "Real Property" mean the property, interests and rights described above in the "Conveyance and Grant" section.
<br />Related Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan
<br />agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, and all other instruments, agreements and
<br />documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the
<br />Property.
<br />Trustee. The word 'Trustee" means U.S. Bank National Association and any substitute or successor trustees.
<br />Trustor. The word 'Trustor" means any and all persons and entities executing this Deed of Trust, including without limitation all Trustors named
<br />above. Any Trustor who signs this Deed of Trust, but does not sign the Note, is signing this Deed of Trust only to grant and convey that
<br />Trustor's interest in the Real Property and to grant a security interest in Trustor's interest in the Rents and Personal Property to Lender and is not
<br />personally liable under the Note except as otherwise provided by contract or law.
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (1) PAYMENT OF THE INDEBTEDNESS AND (2) PERFORMANCE OF ANY AND ALL OBLIGATIONS OF
<br />TRUSTOR UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED
<br />ON THE FOLLOWING TERMS:
<br />TRUSTOR'S REPRESENTATIONS AND WARRANTIES. Trustor warrants that: (a) this Deed of Trust is executed at Borrower's request and not at
<br />the request of Lender; (b) Trustor has the full power, right, and authority to enter into this Deed of Trust and to hypothecate the Property; (c) the
<br />provisions of this Deed of Trust do not conflict with, or result in a default under any agreement or other instrument binding upon Trustor and do not
<br />result in a violation of any law, regulation, court decree or order applicable to Trustor; (d) Trustor has established adequate means of obtaining from
<br />Borrower on a continuing basis information about Borrower's financial condition; and (e) Lender has made no representation to Trustor about
<br />Borrower (including without limitation the creditworthiness of Borrower).
<br />TRUSTOR'S WAIVERS. Trustor waives all rights or defenses arising by reason of any "one action" or "anti— deficiency" law, or any other law which
<br />may prevent Lender from bringing any action against Trustor, including a claim for deficiency to the extent Lender is otherwise entitled to a claim for
<br />deficiency, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale.
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Borrower shall pay to Lender all Indebtedness secured by
<br />this Deed of Trust as it becomes due, and Borrower and Trustor shall strictly perform all their respective obligations under the Note, this Deed of
<br />Trust, and the Related Documents.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor and Borrower agree that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default, or until Lender exercises its right to collect Rents as provided for in the
<br />Assignment of Rents form executed by Grantor in connection with the Property, Trustor may (a) remain in possession and control of the
<br />Property, (b) use, operate or manage the Property, and (c) collect any Rents from the Property.
<br />Duty to Maintain. Trustor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance
<br />necessary to preserve its value.
<br />Hazardous Substances. The terms "hazardous waste," "hazardous substance," "disposal," "release," and "threatened release," as used in this
<br />Deed of Trust, shall have the same meanings as set forth in the Comprehensive Environmental Response, Compensation, and Liability Act of
<br />1980, as amended, 42 U.S.C. Section 9601, et seq. ( "CERCLA "), the Superfund Amendments and Reauthorization Act of 1986, Pub. L. No.
<br />99-499 ( "SARA "), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery Act,
<br />42 U.S.C. Section 6901, et seq., or other applicable state or Federal laws, rules, or regulations adopted pursuant to any of the foregoing. The
<br />terms "hazardous waste" and "hazardous substance" shall also include, without limitation, petroleum and petroleum by— products or any fraction
<br />thereof and asbestos. Trustor represents and warrants to Lender that: (a) During the period of Trustor's ownership of the Property, there has
<br />been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any hazardous waste or substance by any
<br />person on, under, about or from the Property; (b) Trustor has no knowledge of, or reason to believe that there has been, except as previously
<br />disclosed to and acknowledged by Lender in writing, (i) any use, generation, manufacture, storage, treatment, disposal, release, or threatened
<br />release of any hazardous waste or substance on, under, about or from the Property by any prior owners or occupants of the Property or (ii) any
<br />actual or threatened litigation or claims of any kind by any person relating to such matters; and (c) Except as previously disclosed to and
<br />acknowledged by Lender in writing, (i) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property shall use,
<br />generate, manufacture, store, treat, dispose of, or release any hazardous waste or substance on, under, about or from the Property and (ii) any
<br />such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, including without
<br />limitation those laws, regulations, and ordinances described above. Trustor authorizes Lender and its agents to enter upon the Property to
<br />make such inspections and tests, at Trustor's expense, as Lender may deem appropriate to determine compliance of the Property with this
<br />section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create
<br />any responsibility or liability on the part of Lender to Trustor or to any other person. The representations and warranties contained herein are
<br />based on Trustor's due diligence in investigating the Property for hazardous waste and hazardous substances. Trustor hereby (a) releases and
<br />waives any future claims against Lender for indemnity or contribution in the event Trustor becomes liable for cleanup or other costs under any
<br />such laws, and (b) agrees to indemnify and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and
<br />expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a
<br />consequence of any use, generation, manufacture, storage, disposal, release or threatened release of a hazardous waste or substance on the
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