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89100859
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Last modified
10/19/2011 6:05:17 PM
Creation date
10/20/2005 9:17:07 PM
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DEEDS
Inst Number
89100859
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L <br />to the extent of all amounts secured by this Deed of Ti rust at t <br />date of receipt by Trustor of such award or payment, and ofat the <br />reasonable counsel fees, costs and disbursements incurred by <br />Trustee iu connection with.the enforcement of this assignment and <br />t R right to and the cdlLection of any such award ' .payment.. <br />-Trustor. .a4rees to execute-! a_n . deliver, from time �to, bite., <br />further instru-ments as _fray . e requested' by Trustee to :` zir�cl the <br />aforesaid � sig Q . to:. - rustee cif any such award or pgment.. <br />As further ss' uurity.,for. the..:,paymeht 'of ' a11, amounts seated, <br />by this Deed of 'I'ruzf . and: the: performaa've: • of -Trustor 1 s : ; . <br />obligations, coverija� : '�r.�' ?agreements here in Cc? ained f cured, <br />Trustor hereby tran5feti;,. ,ets direr a� .d;: ssicn :to Trustee 1 the <br />rents, issiles, income, royalties,: profits � and bt-her benefits:'-Of <br />and from the ProZi�erty, from time to time accruing, whether under <br />leases or.- tenancles now existing - or hereafter " crreated; provided, <br />however,.that Trustor hereby reserves the right to receive and <br />retain all such rents, fssues, income, royalties, profits, and <br />other benefits so long as there is no default under the terms of <br />this Deed of Trust, the Notes secured hereby or any other securing'_,''_; <br />agreement or loan document now or hereafter given in connection <br />with the loan secured by this Deed of Trust. <br />The Property and the entire estate and interest conveyed to <br />the Trustee are referred to collectively as the "Trust Estate ". <br />THIS DEED OF TRUST IS FOR THE PURPOSE OF SECURING: <br />A. Payment of all obligations of Trustor to Beneficiary <br />evidenced by that certain December is, 1988 Stock Purchase <br />Agreement and all related agreements of the same date hereof <br />including without limitations the Employment Agreement (Francis <br />MOUl), Employment Agreement (Maxine Moul), Covenant Not to Compete <br />and $20,000 Promissory Note (collectively the "Obligations "), <br />executed by Trustor, which have been delivered to Beneficiary, and <br />Which by this reference are hereby made a part hereof, and any and <br />all modifications, extensions and renewals thereof, and <br />B. Payment of all sums reasonably advanced by Beneficiary <br />to protect the Trost Estate, with interest thereon at the rate <br />equal to tsaa' (2) basis points above Norwest Bank Des Moines, <br />N.A.'s base'interest rate. <br />This Deed of Trust, the agreements evidencing the Obligations <br />and any and all other instrurz erL'8, loan agreements, security <br />agreements and deeds of trust given to evidence or further secure <br />the payment and performance of any obligation secured hereby are <br />re;a�red to collectively as the ";;oan Instruments ". <br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST: <br />1• PAYMENT OF INDEBTEDNESS. Trustor shall pay when dose the <br />indebtedners evidenced by the Obligations, and all charges, fees <br />and all other sums h; provided in the Loan Instruments. <br />-2- <br />Ei <br />f ii- <br />�i.2: <br />n <br />lem <br />r° <br />__J~ <br />
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