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201903152
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Last modified
12/9/2019 6:24:50 PM
Creation date
6/3/2019 4:10:25 PM
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DEEDS
Inst Number
201903152
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201903152 <br />the possession of Trustor or in which Trustor otherwise grant a security <br />interest, (viii) all rights (not the obligations) under or with respect to any <br />declarations of restrictions governing or imposing rights or responsibilities <br />on or with respect to any developments or subdivisions that are located or <br />partially located on or with respect to the Land, as may hereafter be <br />amended or supplemented, and (ix) all rights to maintain signage with <br />respect to the Mortgaged Property or any business conducted thereon, <br />whether or not appurtenant to the Land; <br />D. All present or future (i) proceeds (whether cash or non-cash and including <br />payment intangibles) of or arising from the properties, rights, titles and <br />interests referred to above, including the proceeds of any sale, lease or other <br />disposition thereof, proceeds of each policy of insurance, present and future, <br />payable because of loss sustained to all or part of the Mortgaged Property <br />(including premium refunds), whether or not such insurance policies are <br />required by Beneficiary, proceeds of the taking thereof or of any rights <br />appurtenant thereto, including change of grade of streets, curb cuts or other <br />rights of access, by condemnation, eminent domain or transfer in lieu <br />thereof for public or quasi -public use under any law, proceeds arising out of <br />any damage thereto, including any and all commercial tort claims, and (ii) <br />other interests of every kind and character which Trustor now has or <br />hereafter acquires in, to or for the benefit of the properties, rights, titles and <br />interests referred to above and all property used or useful in connection <br />therewith, including rights of ingress and egress and remainders, reversions <br />and reversionary rights or interests; <br />E. All interests, estates or other claims or demands, in law and in equity, which <br />the Trustor now has or may hereafter acquire in the Mortgaged Property and <br />all right, title and interest hereafter acquired by Trustor in any greater estate <br />in any of the foregoing; and <br />F. All proceeds of, additions and accretions to, substitutions and replacements <br />for, and changes in any of the property referred to above. <br />Section 1.2 - Purpose of Security. FOR THE PURPOSE OF SECURING, in such <br />order or priority as Beneficiary may elect (collectively, the "Secured Indebtedness"): <br />A. Payment of indebtedness in the sum of Six Million Eight Hundred <br />Thousand and No/100ths Dollars ($6,800,000.00), according to the terms of <br />a certain Promissory Note of even date herewith made by Trustor to the <br />order of Beneficiary, and any and all extensions, modifications, <br />substitutions or renewals thereof, the terms of which are incorporated herein <br />by reference (the "Note"), with interest thereon at the rate or rates provided <br />in the Note, and the performance and discharge of each and every obligation <br />of Trustor set forth in the Note; <br />4 <br />
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