|
<br />, .
<br />
<br />200600597
<br />
<br />certain Revolving Note, dated as of even date herewith, in like principal amount, made by
<br />Company in favor of Beneficiary, having a final maturity date of March 16, 2006 (as amended,
<br />modified, extended or renewed and together with all substitutions and replacements therefor, the
<br />"Revolving Note"; the Term Notes and the Revolving Note each, individually, a "Note" and,
<br />collectively, the "Notes"); and
<br />
<br />WHEREAS, it is a condition to Beneficiary's willingness to make such financial
<br />accommodations available to Company that Grantor secure Company's obligations to
<br />Beneficiary by executing and delivering this Instrument in favor of Trustee and Beneficiary;
<br />
<br />NOW THEREFORE, for and in consideration of the premises, the sum of Ten and
<br />Noll 00 Dollars ($10.00), the mutual agreements contained herein and other good and valuable
<br />consideration, the receipt and sufficiency of which are hereby acknowledged, and to secure the
<br />indebtedness hereinafter described, the parties hereto, intending to be legally bound hereby,
<br />agree as follows:
<br />
<br />ARTICLE I
<br />
<br />DEFINITIONS
<br />
<br />In addition to the terms defined hereinabove, for the purpose of this Instrument, the
<br />following defined terms shall have the meanings ascribed thereto in this Article I:
<br />
<br />"Easements and Appurtenances" shall mean and include all easements, rights-of-way,
<br />strips and gores of land, vaults, streets, ways, alleys, passages, sewer rights, waters, water
<br />courses, water rights and powers, minerals, oil and gas, flowers, shrubs, crops, trees, timber and
<br />other emblements now or hereafter located on the Land or under or above the same or any part or
<br />parcel thereof, and all estates, rights, titles, interests, privileges, liberties, tenements,
<br />hereditaments and appurtenances, reversion and reversions, remainder and remainders,
<br />whatsoever, in any way belonging, relating or appertaining to the Premises or any part thereof, or
<br />which hereafter shall in any way belong, relate or be appurtenant thereto, whether now owned or
<br />hereafter acquired by Grantor.
<br />
<br />"Event of Default" or "Default" shall have the meaning ascribed thereto in Section 4.01
<br />hereof.
<br />
<br />"Land" shall mean, to the full extent of Grantor's right, title and interest therein, all of the
<br />Land described on Exhibit "A" attached to this Instrument and by this reference made a part
<br />hereof.
<br />
<br />"Leases and Rents" shall mean and include all leases, tenant contracts and rental
<br />agreements pertaining to the Premises and all income, rents, issues, profits and revenues of the
<br />Premises from time to time accruing (including without limitation all payments under subleases
<br />or tenancies, proceeds of insurance, condemnation payments, tenant security deposits whether
<br />held by Grantor or in a trust account, and escrow funds), and all the estate, right, title, interest,
<br />property, possession, claim and demand whatsoever at law, as well as in equity, of Grantor of, in
<br />and to the same.
<br />
<br />-2-
<br />
|