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200901437
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Last modified
2/26/2009 3:10:48 PM
Creation date
2/26/2009 3:10:46 PM
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DEEDS
Inst Number
200901437
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<br />200901437 <br /> <br />a,greements contained in such Lease. Should Beneficiary or any such Lender incur any <br />such liability, loss or damage under any Lease or under or by reason of its assignment to <br />Beneficiary or any such Lender, or in the defense of any claims or demands, the amount <br />thereof, including costs, expenses and reasonable attorneys' fees, shall constitute Secured <br />Indebtedness and shall be payable upon demand with interest payable at the Default Rate. <br /> <br />3.9 Uniform Commercial Code. <br /> <br />(a) This Deed of Trust constitutes a Security Agreement as that term is used <br />in the Uniform Commercial Code in the State (the "Code") with respect to any part of the <br />Property which mayor might now or hereafter be or be deemed to be personal property, <br />fixtures or property other than real estate (including all replacements thereof, additions <br />thereto and substitutions therefor) (collectively, the "Personal Property Collateral"). All <br />of Trustor's right, title and interest in the Personal Property Collateral is hereby assigned <br />to Beneficiary to secure the payment of the Secured Indebtedness. <br /> <br />(b) At any time after an Event of Default has occurred and shall be <br />continuing, Beneficiary shall have the remedies of a secured party under the Code, <br />including without limitation the right to take immediate and exclusive possession of the <br />Personal Property Collateral or any part thereof. The remedies of Beneficiary hereunder <br />are cumulative and the exercise of anyone or more of the remedies provided for herein or <br />under the Code shall not be construed as a waiver of any of the other remedies of the <br />Beneficiary, including having the Personal Property Collateral deemed part of the realty <br />upon any foreclosure so long as any part ofthe Secured Indebtedness remains unsatisfied. <br /> <br />(c) This Deed of Trust is intended to be a "fixture filing" for purposes of the <br />Code with respect to the items of Property which are or may become fixtures relating to <br />the Premises upon recording of this Deed of Trust in the real estate records of the proper <br />office. The addresses of Trustor (Debtor) and Beneficiary (Secured Party) are set forth in <br />Section 5.1 hereof. <br /> <br />(d) The Trustor hereby directs that the Beneficiary shall cause to be recorded <br />in the County in which the Premises are located, as well as with the applicable offices of <br />the State, such financing statements and fixture filings as shall be necessary in order to <br />perfect and preserve the priority of Beneficiary's lien upon the Personal Property <br />Collateral. <br /> <br />3.10 Releases. Without notice and without regard to the consideration therefor, and to <br />the existence at that time of any inferior liens, Beneficiary may release from the lien created <br />hereby all or any part of the Property, or release from liability any person obligated to repay any <br />of the Obligations, without affecting the liability of any party to any of the Notes, this Deed of <br />Trust, or any of the other Loan Documents (including without limitation any guaranty given as <br />additional security) and without in any way affecting the priority of the lien created hereby. <br />Beneficiary may agree with any liable party to extend the time for payment of any part or all of <br />the Obligations. Such agreement shall not in any way release or impair the lien created by this <br />Deed of Trust or reduce or modify the liability of any person or entity obligated personally to <br /> <br />- 8 - <br />
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