200403670 - Laserfiche WebLink

Browse

200403670 DEED OF TRUST, ASSIGNMENT OF RENTS AND LEASES, AND SECURITY AGREEMENT (Nebraska) THIS DEED OF TRUST, ASSIGNMENT OF RENTS AND LEASES AND SECURITY AGREEMENT (this "Deed of Trust ") is dated as of March 1, 2004, by and from AMERCO REAL ESTATE COMPANY, a Nevada corporation ( "Grantor "), whose address is 2727 North Central Avenue, Phoenix, Arizona 85004 to FIRST AMERICAN TITLE INSURANCE COMPANY ( "Trustee "), for the benefit of WELLS FARGO FOOTHILL, INC., a California corporation, in its capacity as administrative agent ( "Agent ") pursuant to the Loan Agreement (as defined below), having an address at 2450 Colorado Avenue, Suite 3000 West, Santa Monica, California 90404 (Agent, together with its successors and assigns, is referred to herein as `Beneficiary "). RECITALS: WHEREAS, Grantor is the fee owner of the real property and improvements described in Exhibit A attached hereto. WHEREAS, AMERCO, a Nevada corporation (also referred to herein as the context requires as "Parent "), Grantor and the direct and indirect subsidiaries of Parent and Grantor which are parties thereto (Parent, Grantor and such subsidiaries are collectively referred to herein as "Borrowers "), Agent and the Lender Group (as defined in the Loan Agreement) have entered into that certain Loan and Security Agreement dated as of March 1, 2004 (as amended, restated, supplemented or otherwise modified heretofore or hereinafter from time to time, the "Loan Agreement "), which Loan Agreement provides for a revolving loan, a term loan and other extensions of credit in the principal amount as specified in said Loan Agreement. Agent and the Lender Group are unwilling to enter into the Loan Agreement and make available to Borrowers the credit facilities provided therein unless Grantor, among other things, secures the Obligations of Borrowers under the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement) by delivering this Deed of Trust. WHEREAS, Grantor is receiving a good and valuable benefit, the sufficiency and receipt of which is hereby acknowledged, from Agent and Lender Group entering into the Loan Agreement with Borrowers. LA/975395.1