|
200007542
<br />DEED OF TRUST
<br />THIS DEED OF TRUST ( "Security Instrument ") is made on T -Ne 23, Zono The
<br />trustor is Pitney Bowes Credit Corporation, a Delaware corporation, having an address at 27
<br />Waterview Drive, Shelton, CT 06484 ( "Borrower "). The trustee is Fidelity National Title
<br />Insurance Company, having an address at 1901 North Roselle Road, Suite 650, Schaumberg,
<br />Illinois 60195 ( "Trustee "). The beneficiary is Sakura Business Finance, Inc., having an address
<br />at 101 Park Avenue, New York, New York 10178, which is organized and existing under the
<br />laws of New York ( "Lender "). Borrower owes Lender the principal sum of Five Million Six
<br />Hundred Eighty -One Thousand Seven Hundred Five and 66/100 Dollars (U.S.$5,681,705.66).
<br />This debt is evidenced by Borrower's note dated the same date as this Security Instrument
<br />( "Note "), which provides for monthly payments, with the full debt, if not paid earlier, due and
<br />payable on July 31, 2009. The Security Instrument secures to Lender: (a) the repayment of the
<br />debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the
<br />Note (b) the payment of all other sums, with interest, advanced under paragraph 3 to protect the
<br />security of this Security Instrument; and (c) the performance of Borrower's covenants and
<br />agreements. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with
<br />power of sale, all of Borrower's right, title and interest in that certain Lease Agreement (the
<br />"Lease Agreement ") dated as of May 18, 1998 between Monfort, Inc. and Borrower, as the same
<br />may be amended from time to time encumbering that certain property located in Hall County,
<br />Nebraska, and being more particularly described on Exhibit A and which has the address of 555
<br />South Stuhr Road, Grand Island, Nebraska 68801;
<br />TOGETHER WITH all of Borrower's right, title and interest pursuant to the Lease
<br />Agreement in those certain improvements now or hereafter erected on the property, and all
<br />easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements
<br />and additions shall be covered by this Security Instrument. All of the foregoing is referred to in
<br />this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby
<br />conveyed and has the right to grant and convey the Property and that the Property is
<br />unencumbered, except for encumbrances of record. Borrower warrants and will defend generally
<br />the title to the Property against all claims and demands, subject to any encumbrances of record.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall
<br />promptly refund to Borrower any funds held by Lender. If, under paragraph 21 of the Lease
<br />Agreement, Lender shall acquire or sell the Property, Lender, prior to the acquisition or sale of
<br />the Property, shall apply any funds held by Lender at the time of acquisition or sale as a credit
<br />against the sums secured by this Security Instrument.
<br />1. Payment of Debt. Borrower covenants to pay all amounts due to Lender in the
<br />time and manner provided in the Note and in this Security Instrument.
<br />2. Incorporation by Reference. All the covenants, conditions and agreements
<br />contained in (a) the Note and (b) all and any of the documents other than the Note or this
<br />Security Instrument now or hereafter executed by Borrower and/or others and by or in favor of
<br />N Y01 /GEOGJ/534827.1
<br />
|