|
2� 17� 1553
<br /> [�EEL7 �F Ti�I�ST'
<br /> Loan �c�: '[��3�3�3� {��3t�t[�u�d� �age 'I D
<br /> af �he �ni�ed States �� Am��i�a. V1lvrds and terms used in the singular shall include the plura�, and the piu�a! sha��
<br /> include the singular, a� �the cont�xt may requir�. VIlards and terms n�t o�herwise defined in this Deed ❑� Trus� shall
<br /> ha�e�he meanings a�#ributed�v such�erms in the Un��orm Commerc�a� Code:
<br /> Beneficiary. The ward "Ben�ficiary" means Five Poin�s Bank, and its successor� and assigns.
<br /> Borrvwer. The word "Bt�rrawer" means MIKE GRI�IIIES CaNSTRUCTInN iNC, IIlIICHAEL GRIMES and AIVN �RIMES
<br /> and includes all c��s�gners anr� cv-�makers signing the No�e and a��their-successors and assigns.
<br /> Deed of Trusfi. The words "De�d vf T'rust" me�n this Deed of Trust amvng Trustar, Lender, and Trus�ee, and
<br /> includes v�rithaut ��mi�a�ion all assignment and secur��ty interest pro�isivns rela�ing �a the Persona� Prop�r�y and
<br /> Rents.
<br /> []efault. �"he wflrd 't Defau�t" means�he De�ault s��forth in this Deed ❑f Trust in the sectian titled "Defaul�".
<br /> En�iranmental Laws. The v�rords "En�i�onmen�al L:aws" mean any and all sta�e, federai and iocal statu�es,
<br /> r�gu(atians and ❑rdinances reia�ing to the prn�eGt�an �� human health ar the en�iranment, includin� wi�hou�
<br /> limi�atian �he �omprehensirre Enviranmental Respans�, Carr�pensatian, and Liab�lity Act of �98C3, as amended, 4�
<br /> L].S.C. Sect�on 9�C�"�, e� s�q. �'`�ERCLA"'�, the Super�und Amendmen�s and Reauthorization A�� of 1986, Rub. L.
<br /> No. 99-499 �"SARA"�, �h� Haz�rdous Ma�erials Transpar�atian A��, 49 IJ.S.G. Secti�n 1 S��, et seq., the Resvurce
<br /> Cvnser�ation and Reco�ery Act, �2 U.�.�. Sec�ian �9�1, et se�., ❑r ❑ther applicable sta�e or federa� laws, rules,
<br /> ❑r�egula�ians adap'�ed pursuant thereta.
<br /> E�ent v�Default. Th�wvrd� "E��n�of D�faul�" mean any of the e�ents vf default set for�h in this Deed of Trus�in
<br /> �he e�en�s vf de�ault section a�thi$ Deed �f Trus�.
<br /> Exis�ing indebtedness. The war�s "Exis�ing Indebtednes�" mean t�e �ndehtedness described in the Existing Liens
<br /> pro�ision of�his Deed of Trus�.
<br /> Guaranty. The vuvrd "Guaran�y" means�he guaranty�rom guaran�or, �ndarser, sure�y, ar accommodation party tv
<br /> Lender, including wi�haut i�mi�a�ian a guaranty of all or par�t af the No�e.
<br /> Hazardous 5ubstances. The wQrds "Hazardaus Substances" mean materials that, because a� their quan�i�y,
<br /> c�ncent�-a�ion ar phys�cal, chemical ar infect�ous �hara�t�ri�tics, may cause ❑r pvse a present �r potent�a� hazard
<br /> �� human health �r the en�iranmen� wh�n improperly used, �t�ea�ed, s�ored, disposed of, genera��d, manufactured,
<br /> �ransp��ted or ��therwis� han�led. The words "Hazardous Substan�es" are used in their �ery brvadest sense and
<br /> include withau� limi�ation any and all hazardous or toxic su�s�anCes, materials ar waste as �e�ined by or �isfied
<br /> under the En�ironmenta� Laws. The term "Hazardaus Substances" also includes, wi�hout limitat�on, petraleum and
<br /> pe�roleum by-�raducts ar an�y frac�ivn thereaf and as�es�os.
<br /> Impra�ements. Th� ward "lmpra�emen�s" means all existing and �uture impra�emen�s, buildin�s, structures,
<br /> m�bile homes a��ixed on the Re�l Prvpe�ty, �a��lit�es, additions, �epl�cem�nts and other canstructian an �he Real
<br /> Property.
<br /> lndeb�edness. Th� vvard "Indebtedness'� means all principal, in�eres�, and ❑th�r amflunts, �as�s and expenses
<br /> payab[e under �he Nvte ❑r Rela�ed aocuments, together with all renewais o�; extensions vf, mQdifications o�,
<br /> cans�lidations o�and substitutians for the Nvte �r F�elat�d Documents and any amounts expended o� ad�anced by
<br /> Lender �v di�charge Trus�ar's obiigatians or expens�s incurred by Trustee or Lender �a enfarce Trustar's
<br /> ��liga�ians under �his Deed of Trust, tag��her with inte��s� vn su�h amvunts as pro�ided in this Deed of Trus�.
<br /> Spe�ifica��y, withaut limitatian, Indebtedness includes a!I amounts �ha� may be �ndirec�tly secured by �he
<br /> Cross-Co��a�eralizatinn prv�isivn af th�s D�ed a�T�u�t.
<br /> Lender. The ward "Lend�r" means Fi�e Points Bank, i�s successors and assi�ns.
<br /> Nv�e. T�e ward "Note" means �he prvmissvey no�e dated March 1 U, 2D�7, In the o�igina� p�incipal am�aunt
<br /> vf $'I 5.�4•�.5C� frt�m Bo�ro�uver t❑ L:ender, tage�her with a(( renewals of, extensians ❑f, m�di���a�ions af;
<br /> refinancings of, �anso�ida�ians of, and subs�itu�ivns�or the promissory no#e or agreement.
<br /> Personal Prvper�y. Th� words "Personai Pr�perty" rn�an all �quipment, fixture�, and other articies of persvnai
<br /> proper�y now or h�reaft�r �v�rne� by Trusta�, and now or herea�f�er at�ached or a�fixed to �he Real Property;
<br /> tagefiher with aff ac�essions, parts, �and additians �o, all rep�acements o�F, and all subs�itutions far, any o� such
<br /> praperty; and toge�her wi�h al� pra�eeds �including withou� fimitat�an all insuran�e pro�eeds and re�unds ��
<br /> premiums} fram any sa�e ar vther dispas�t�an of�he Property.
<br /> Prvperty. Th�ward "Praper�y" means collectively the Rea! Proper�y and the Personal Property.
<br /> R�a[ Proper#y. The ilvords "Rea[ Prvperty" mean�the r�a( proper�y, int�rests and ri�hts, as fur�h�r des�ribed in this
<br /> �3e�d of Trus�.
<br /> Related Documen�s. The words "Relat�d aoeumen�s" mean all promissvey nt�tes, credit agreemen�s, loan
<br /> agreem�nts, environmen�tal agreemen�s, guaran�ies, security agreem�nts, mvrtgages, deeds of trus�, security
<br /> deeds, �o��ateral m�rtgag�s, and a�i ❑ther instrumen�s, a�reemen�s and dacumen�s, whether now or hereafter
<br /> exis�ing, execu�ed irt cannection with the Indebt�dness.
<br /> Ren#s. The vvord 'r Renits" means all present and fu�ure ren�s, r��enues, incame, issues, royalt�es, �]CO�f�Sr and
<br /> o�her bene�its derived�rnm th� Prop�rty..
<br />
|