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200403825
<br />NOW, THEREFORE, KNOW ALL PERSONS BY THESE PRESENTS:
<br />That the Corporation, in consideration of the premises and acceptance by the Trustee of the trust
<br />hereby created and of the purchase and acceptance of the Bonds by the holders thereof and of the sum of One
<br />Dollar ($1.00) in lawful money of the United States of America to it duly paid by the Trustee at or before the
<br />execution and delivery of these presents, and for other good and valuable consideration, the receipt of which
<br />is hereby acknowledged, in order to secure the payment of the principal of and interest on the Bonds issued as
<br />herein provided according to their tenor and all the covenants expressed or implied herein and in the Bonds,
<br />does hereby grant, grant security interest in, bargain, sell, assign, convey, mortgage and pledge unto Wells
<br />Fargo Bank, National Association, as Trustee, and unto its successors in trust, and to them and their assigns
<br />forever, for the securing of the performance of the obligations of the Corporation hereinafter set forth, the
<br />following:
<br />1. The Project, including all right, title and interest of the Corporation in the real estate described on
<br />Exhibit "A" hereto attached (including its rights under the Easement Agreement as hereinafter more
<br />specifically described and defined) and all improvements and fixtures now or hereafter located thereon and
<br />equipment, furnishings and facilities included therein or as a part thereof, together with all tenements,
<br />hereditaments, appurtenances, rights, privileges and immunities thereto belonging or appertaining;
<br />2. All revenues and income derived by the Corporation from the Project, including, without
<br />limitation, all revenues received by the Corporation from the Project, and in particular the basic payments and
<br />other payments, rentals and profits received under and pursuant to that certain Contract for Purchase by and
<br />between the Corporation as Vendor and the College as Purchaser (hereinafter more specifically identified)
<br />and pursuant to the terms of which basic payments are to be forwarded directly to the Trustee for the account
<br />of the Corporation and deposited in the account of the Corporation herein designated "Bond Fund ";
<br />3. Any and all other property of every name and nature from time to time hereafter by delivery or by
<br />writing of any kind conveyed, mortgaged, pledged, assigned or transferred, as and for additional security
<br />hereunder by the Corporation or by anyone in its behalf (or with its written consent) to the Trustee, which is
<br />hereby authorized to receive any and all such property at any and all times and to hold and apply the same
<br />subject to the terms hereof;
<br />TO HAVE AND TO HOLD all the same with all privileges and appurtenances hereby conveyed and
<br />assigned, or agreed or intended so to be, to the Trustee and its respective successors in said trust and to them
<br />and their assigns forever;
<br />IN TRUST, NEVERTHELESS, upon the terms and trusts herein set forth for the equal and
<br />proportionate benefit, security and protection of all holders of Bonds issued under and secured by this Trust
<br />Indenture and Security Agreement without privilege, priority or distinction as to the lien or otherwise of any
<br />of said Bonds or interest thereon over any of the other said Bonds or interest thereon.
<br />PROVIDED, HOWEVER, that if the Corporation its successors or assigns shall well and truly pay,
<br />or cause to be paid, the principal of the Bonds and interest due or to become due thereon, at the times and in
<br />the manner mentioned in the Bonds, according to the true intent and meaning thereof, and shall make the
<br />payments into the Bond Fund as required under Article V and shall well and truly keep, perform and observe
<br />all the covenants and conditions pursuant to the terms of this Trust Indenture and Security Agreement to be
<br />kept, performed and observed by it, and shall pay or cause to be paid to the Trustee all sums of money due or
<br />to become due to it in accordance with the terms and provisions hereof, then upon such final payments this
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