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<br />partnership ("Alison Paint II") and Beneficiary, with a maturity date of September 30, 2010 or, if
<br />converted to a term loan, September 30, 2013 (the "2007 Loan"); and (2) that certain
<br />Reimbursement Agreement and that certain Credit Agreement, both dated September 1, 2003, in
<br />the original principal amount of Seven Million Seven Hundred Ninety-Four Thousand Nine
<br />Hundred and Thirty-Two Dollars ($7,794,932) (collectively, the "2003 Loan Agreement") by
<br />and between Pedcor Investments-2003-LX, L.F. ("Cedars at Rivers Bend") and Beneficiary, with
<br />a maturity date of September 25, 2010, unless earlier terminated (the "2003 Loan"), as
<br />guaranteed by Grantor pursuant to that certain Guaranty dated September 1, 2003 (the "Cedars
<br />Guaranty"). Alison Point II and Cedars at Rivers Bend shall hereinafter be collectively referred
<br />to as the "Subsidiaries".
<br />C. A condition precedent to Beneficiary's extension of the 2009 Loan to Borrowers
<br />is the execution and delivery by Grantor of this Deed of Trust to secure the 2009 Loan, the Land
<br />Loan Notes, the 2007 Loan, and the Cedars Guaranty (collectively, the "Loans").
<br />NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
<br />of which are hereby acknowledged, Grantor agrees as follows:
<br />Grantor does hereby irrevocably, unconditionally and absolutely, grant, bargain, sell,
<br />pledge, enfeoff, assign, warrant, transfer and convey to Trustee (with power of sale) in trust for
<br />the purposes herein set forth, the following property, rights, interests and estates now owned or
<br />hereafter acquired by Grantor, for the benefit and security of the Beneficiary, its successors and
<br />assigns forever, and grants to Beneficiary, and to Trustee in trust for the benefit of Beneficiary, a
<br />security interest in, the real estate legally described on Exhibit "A" attached hereto ("Real
<br />Estate"), together with the other property described in the following paragraph (the Real Estate
<br />and property being hereinafter referred to as "Premises") to secure: (i) the payment of the Loans
<br />and all interest, late charges and other indebtedness evidenced by or owing under the Note, the
<br />Loan Agreements, this Deed of Trust or any of the other Loan Documents (as defined in the
<br />Note) and by any extensions, modifications, renewals or refinancings thereof; (ii) the
<br />performance and observance of the covenants, conditions, agreements, representations,
<br />warranties and other liabilities and obligations of Grantor or any other obligor to or benefiting
<br />Beneficiary which are evidenced or secured by or otherwise provided in the Note, the Loan
<br />Agreements, this Deed of Trust or any of the other Loan Documents; (iii) any and all additional
<br />advances made by Beneficiary to protect or preserve the Premises or the security title or interest
<br />created hereby on the Premises, or for taxes, assessments or insurance premiums as hereafter
<br />provided, or for performance of any of Grantor's obligations hereunder, or for any other purpose
<br />provided herein (whether or not the original Grantor remains the owner of the Premises at the
<br />time of such advances), provided, however, nothing herein shall be deemed to obligate
<br />Beneficiary to make any such advances and (iv) any and all obligations and covenants of Grantor
<br />under any other document, instrument or agreement now or hereafter evidencing, securing or
<br />otherwise relating to the Note, the Loan Agreements, this Deed of Trust or any of the other Loan
<br />Documents secured hereby, and all costs of collection, including reasonable attorneys' fees.
<br />In addition to the Real Estate, the Premises hereby mortgaged includes all buildings,
<br />structures and improvements now or hereafter constructed or erected upon or located on the Real
<br />Estate, all tenements, easements, rights-of--way and rights used as a means of access thereto, all
<br />fixtures and appurtenances thereto now or hereafter belonging or pertaining to the Real Estate,
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