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200804831
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200804831
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Last modified
12/2/2008 10:07:15 AM
Creation date
6/4/2008 4:07:33 PM
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DEEDS
Inst Number
200804831
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<br />200804831 <br /> <br />or might now or hereafter be or be deemed to be personal property, fixtures or property other <br />than real estate; all of the terms, provisions, conditions and agreements contained in this Deed of <br />Trust pertain and apply to the Collateral as fully and to the same extent as to any other property <br />comprising the Property, and the following provisions of this section shall not limit the <br />generality or applicability of any other provision of this Deed of Trust but shall be in addition <br />thereto: <br /> <br />(a) The Collateral shall be used by Borrower solely for business purposes, <br />being installed upon or owned in connection with the real estate comprising part of the Property <br />for Borrower's own use or as the equipment and furnishings furnished by Borrower, as owner, to <br />tenants of the Property. <br /> <br />(b) The Chattels shall be kept at the real estate comprising a part of the <br />Property, and shall not be removed therefrom without the consent of Bank and the Chattels may <br />be affixed to such real estate but shall not be affixed to any other real estate; <br /> <br />(c) No financing statement covering any of the Collateral or any proceeds <br />thereof is on file in any public office; and Borrower will, at its cost and expense, upon demand, <br />furnish to Bank such further information and will execute and deliver to Bank such financing <br />statements and other documents in form satisfactory to Bank and will do all such acts and things <br />as Bank may at any time or from time to time reasonably request or as may be necessary or <br />appropriate to establish and maintain a perfected security interest in the Collateral as security for <br />the Secured Obligations, subject to no adverse liens or encumbrances; and Borrower will pay the <br />cost of filing the same or filing or recording such financing statements or other documents and <br />this instrument in all public offices wherever filing or recording is deemed by Bank to be <br />necessary or desirable; <br /> <br />(d) The terms and provisions contained in this section and in section 7.5 <br />hereof (Enforcement of Security Interests) of this Deed of Trust shall, unless the context <br />otherwise requires, have the meanings and be construed as provided in the Code; and <br /> <br />(e) This Deed of Trust constitutes a security agreement and financing <br />statement under the Code with respect to the Collateral. As such, this Deed of Trust covers all <br />items of the Collateral that are personal property including all items which are to become <br />fixtures. Borrower is the "Debtor" and Bank is the "Secured Party" (as those terms are defined <br />and used in the Code) insofar as this Deed of Trust constitutes a financing statement. <br /> <br />(f) The Borrower agrees that Bank may, to the extent permitted by applicable <br />law, prepare and file financing statements, amendments thereto, and continuation statements <br />without the signature of the Borrower and file any financing statement, amendment thereto or <br />continuation statement electronically. <br /> <br />2.3 No Agricultural Use. Borrower warrants and agrees that the Property is not used <br />principally or primarily for fanning, timber harvesting, grazing, or other agricultural purposes. <br /> <br />I03209-60617-957802v5 <br /> <br />6 <br /> <br />us Bank I Riveroend Apartments Phase I <br />Deed of Trust <br />
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