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• 2_62110161
<br />(F) All proceeds (including claims and demands therefor) of the conversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including,
<br />without limitation, proceeds of insurance and condemnation awards; and
<br />FOR THE PURPOSE OF SECURING, in such order of priority as Beneficiary may elect:
<br />(1) Due, prompt and complete observance, performance and discharge of each
<br />and every obligation, covenant and agreement contained in those certain Secured
<br />Promissory Note(s) of even date herewith executed by Borrower in favor of Beneficiary in
<br />the original principal amounts of $50,000.00 and $43,043.00, respectively (the "Notes"),
<br />including, without limitation, all obligations evidenced by the Notes as defined therein, to
<br />Beneficiary; and any and all modifications, substitutions, extensions or renewals of the
<br />Notes and whether the entire amounts shall have been repaid in part; and
<br />(2) Due, prompt and complete observance, performance and discharge of each
<br />and every obligation, covenant and agreement of Trustor contained herein; and
<br />(3) Payment of any other or further indebtedness at any time owing by Trustor or
<br />Borrower to Beneficiary however the same may be incurred, and in whatever form it may
<br />be, whether contingent or represented by notes, judgments, or otherwise, and all interest
<br />thereon; and
<br />(4) Due, prompt and complete observance, performance and discharge of each
<br />and every obligation, including payment obligations, covenants and agreements
<br />contained in the Notes and any Loan Agreements, Security Agreements, Financing
<br />Statements, Guaranties or any other documents executed by Borrower or Trustor in
<br />connection therewith, or this Deed of Trust.
<br />The foregoing debts and obligations are hereinafter collectively referred to as the
<br />"Obligations").
<br />ARTICLE I
<br />COVENANTS
<br />Trustor covenants, warrants, represents and agrees to and with Beneficiary and Trustee
<br />as follows:
<br />1.01 Payment of Principal and Interest. Trustor will pay the Obligations according
<br />to the terms thereof.
<br />1.02 Warranty of Title. Trustor owns fee simple title to the Property and is lawfully
<br />seized of the Property hereby conveyed, has the right to grant and convey the Property, and has
<br />good and marketable title to the Property subject to no lien, charge or encumbrance—except for
<br />any such liens or encumbrances disclosed to Beneficiary in writing; Trustor owns the Fixtures free
<br />and clear of liens and claims, except as permitted under this Deed of Trust; and this Deed of Trust
<br />is and will remain a valid and enforceable lien on the Property subject only to the exceptions
<br />referred to below. Trustor represents and warrants that Trustor has full power and lawful
<br />authority to grant, assign, transfer and mortgage its interest in the Property in the manner and
<br />form hereby done or intended. Trustor will preserve its interest in and title to the Property and
<br />will forever warrant and defend the same to Trustee and will forever warrant and defend the
<br />validity and priority of the lien hereof against the claims of all persons and parties whomsoever.
<br />Trustor shall promptly and completely observe, perform, and discharge as and when due each
<br />and every obligation, covenant and agreement affecting the Property whether the same is prior
<br />and superior or subject and subordinate hereto.
<br />Borrower: Cartoon Productions, LLC
<br />Property Owner: Homer and Marge Simpson
<br />Address: 222 Silly Street, Cartoon, CA 99999
<br />Page 4 of 11
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