|
200503788
<br />Property, which shall be deemed part of the Real Property and not severable wholly or in part without
<br />material injury to the Real Property, (d) all rents, issues and profits of the Real Property, all existing and
<br />future leases of the Real Property (including extensions, renewals and subleases), all agreements for use and
<br />occupancy of the Real Property (all such leases and agreements whether written or oral, are hereafter
<br />referred to as the "Leases "), and all guaranties of lessees' performance under the Leases, together with the
<br />immediate and continuing right to collect and receive all of the rents, income, receipts, revenues, issues,
<br />profits and other income of any nature now or hereafter due under the Leases or from or arising out of the
<br />Real Property, all proceeds payable as a result of a lessee's exercise of an option to purchase the Real
<br />Property, all proceeds derived from the termination or rejection of any Lease in a bankruptcy or other
<br />insolvency proceeding, and all proceeds from any rights and claims of any kind which Grantor may have
<br />against any lessee under the Leases or any occupants of the Real Property (all of the above are hereafter
<br />collectively referred to as the "Rents "), (e) all compensation, awards, damages, causes of action and
<br />proceeds (including insurance proceeds and any interest on any of the foregoing) arising out of or relating to
<br />a taking or damaging of the Real Property by reason of any public or private improvement, condemnation
<br />proceeding, fire, earthquake or other casualty, injury or decrease in the value of the Real Property, and (f) all
<br />additions, accessions, replacements, substitutions, after - acquired interests, and proceeds of any of the
<br />property described in this paragraph (all of the foregoing together with the Real Property is hereinafter
<br />collectively referred to as the "Property").
<br />FOR THE PURPOSE OF SECURING:
<br />(1) the repayment of the debt evidenced by the Note with interest as therein set forth, and any extensions,
<br />renewals or modifications thereof; (2) the performance of each agreement of Grantor herein contained; (3)
<br />the repayment of such additional loans or advances as hereafter may be made to Grantor, or its successors or
<br />assigns, when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust;
<br />and (4) the repayment of all sums expended or advanced by Beneficiary under or pursuant to the terms
<br />hereof to protect the security of this Deed of Trust, together with interest as herein provided.
<br />As used in this Deed of Trust, the "Loan Documents" shall mean the Note, this Deed of Trust, Assignment
<br />of Leases and Rents, Guaranties, and the other documents and instruments executed and delivered in
<br />connection with the closing of the Loan.
<br />IN CONSIDERATION OF THE FOREGOING, GRANTOR REPRESENTS, WARRANTS AND
<br />AGREES AS FOLLOWS:
<br />1. Personal Properti Security. Grantor hereby grants to the Beneficiary a security interest in that
<br />portion of the Property not deemed real property for the purpose of securing performance of all of Grantor's
<br />obligations under the Loan Documents.
<br />2. Security Agreement. This Deed of Trust shall be deemed a Security Agreement as defined in
<br />the Uniform Commercial Code with respect to any Property not deemed to be real property which is either
<br />referred to or described herein or in any way connected with the use and enjoyment of the Real Property.
<br />Without limiting any other rights or remedies of Beneficiary herein, Beneficiary shall have all of the rights
<br />conferred upon a secured party by the Uniform Commercial Code.
<br />3. Payment of the Note and Performance of Obligations. Grantor shall promptly pay when due
<br />all principal and interest on the debt evidenced by the Note and any prepayment and late charges due under
<br />the Note and strictly comply with all the terms and conditions of the Loan Documents,
<br />4. Warranty of Title. Grantor has good and marketable title to an indefeasible fee simple estate in
<br />the Real Property, subject to no liens, encumbrances, easements, assessments, security interest, claims or
<br />Doff- Nebraska -12/04 NC LGL 2 Symetra Loan No. SBOL1508
<br />
|