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201007862
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Last modified
10/25/2010 3:45:31 PM
Creation date
10/25/2010 3:45:30 PM
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DEEDS
Inst Number
201007862
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2010078b2 <br />financing statement for all intents and purposes thereundex. For puiposes of this filing, Grantor <br />is the recnrd owner af the Property. The name and mailing address of Grantor; as debtor, and the <br />r�ame and mailing address of the Authority, as secured party, from which informarion canceming <br />this Financing Statement may be obtained, are set forth in the Preaamble af th�is Security <br />Instrument. The Grantor sha11 immediately advise the Autharity in writing af any c}aan.ge in the <br />state of Grantor's organization, or Graritor's exact legal name, or the places where the Personal <br />Properiy, ar any part th�reo�, or the books and records concerning the Personal Property, or a�y <br />part thereof, are kept. <br />If any of the Property is deemed to be personal property, this Security Instrument shall <br />also constitute a security agreement with respect to such persanal pxoperty executed by Grantor <br />as debtor in favor of the Authority as secured paxty. Upon the occurrence of an Event of Defa.ult, <br />the Authority may, in addition to and not ixa derogation of any other rights and remedaes of the <br />Authority under the Section 1602 Subaward Agreement dated as of even date hereof (the "16Q2 <br />Agreement"), or any of tlie other documents evidencing nr securing the 1602 Agreement <br />(coll�ctively, th� "16Q2 Documents") cach executed even dat� herewith or applicable law, in <br />accordance with Section 9-b04 of the Uniform Cammercial Code, as applicable, or other such <br />provisions of the Uniform Commercial Code, elect (a) to proceed under and have all the rights <br />and remedies af a secured party under Article 9 af the Uxuform Commercial Code and any other <br />applicable law, or (b) to proceed as to both the real property and th� personal property in <br />accordance with the Authority's rights and remedies in respect of the real property encumbered <br />by this Security Instrument, whereupon at any fnreclosure sale conducted pursuant to this <br />Sccurity Instrument Trustee acting hereunder may oTfer the real and personal property togetrier <br />as part of the same sale, wit�h bids to be taken on the whole a� the real and personal praperty <br />rather than separately. <br />Crrantor shall promptly notify tk�e Authority of the existence of any commercial tart claim <br />now or hereafter existing against Grantor or the Property, and sball execute, acknowledge and <br />deliver a security agreement or other documentation as the Authori�ty shall fram time to time <br />require ta acquire and perfect a valid and binding security interest in such commercial tort claim. <br />Td HAVE .AND TO HOLD the abave-described Premises, with all rights, privil�ges, and <br />appurtenances tlaereto belonging, ar in any way appertaining, unto said Trustee, forever, and <br />possession of said Premises and properiy is now delivered unto the Trustee, in trust, however, for <br />the following purposes: <br />THIS RECAPTURE DEED OF TRUST SHALL SECURE THE F�LLOWiNG <br />O�LIGATIONS AND THE PERFORMANCE OF THE GR.ANTOR UNUER THE 1602 <br />AGREEMENT (collectively, the "Obligations"): <br />(a) Payment of the obligations owed by Grantor to the Authority under the 1602 <br />Agreement with respect to the subaward in the sum af $2,1 �7,503 (the "Subaward") together <br />with all ext�nsians, renewals, amendments and modifications thereo�'; and <br />(b) Payment of all ather abligations and oth�r sums, with interest thereon, which may <br />b� owed under, and performance of all other obligations and covenants contained. in the 1602 <br />5 <br />Recapture Deed of 7rust and Secur(ty Agreement <br />4840-b735-9942.2 <br />
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