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<br /> <br /> 201100433 <br /> <br /> <br /> successors and assigns forever, subject to Permitted Encumbrances, upon the terms and subject to the <br /> conditions hereinafter set forth. <br /> <br /> Il. GRANT OF SECURITY INTEREST IN PERSONAL PROPERTY. <br /> <br /> The Grantor does hereby pledge and assign unto the Deed Trustee and its successors and assigns <br /> in trust, forever, and grant a security interest therein, the personal property described in Exhibit B <br /> attached hereto (the "Personal Property"), subject to Permitted Encumbrances, upon the terms and <br /> subject to the conditions hereinafter set forth. <br /> The Real Property and the Personal Property are referred to herein collectively as the <br /> "Property." <br /> <br /> NOW, THEREFORE, if the Grantor shall well and truly pay unto the Issuer the indebtedness <br /> evidenced by the Bond and the Loan and shall perform, comply with and abide by each and every of the <br /> agreements, conditions and covenants contained and set forth in the Loan Documents, the estate hereby <br /> created shall be reconveyed, without warranty, to the parties designated by the terms of this Deed of Trust <br /> and the security interest herein granted shall be cancelled and released and all evidences of indebtedness <br /> cancelled by the Issuer and its assigns. <br /> <br /> AND TO FURTHER SECURE its payments and performance under the Loan Documents (as <br /> defined in the Loan Agreement), the Grantor does hereby covenant and agree as follows: <br /> Section 1. Definitions of Words and Terms. Capitalized terms used herein and not <br /> otherwise defined have the meanings ascribed thereto in the Loan Agreement. <br /> <br /> Section 2. General Covenant. The Grantor will perform, comply with and abide by all of <br /> its respective agreements, conditions and covenants contained and set forth in the Loan Documents, and <br /> in every other document evidencing, securing or otherwise relating to the Bond and the Loan, all of which <br /> are incorporated herein by reference. It is understood and agreed that so long as the Grantor makes when <br /> due and payable the payments on the Bond and the Loan, and performs and complies with its agreements, <br /> conditions and covenants contained in the Loan Documents, the Grantor shall be entitled to utilize the <br /> Property for its proper corporate purposes pursuant to the provisions of the Loan Documents. <br /> <br /> Section 3. Payment of Costs, Charges, and Expenses. The Grantor agrees to pay all <br /> reasonable costs, charges and expenses, including attorney fees and abstract costs, reasonably incurred or <br /> paid at any time by the Issuer, the Deed Trustee, or the Lender because of the failure of the Grantor to <br /> perform, comply with, and abide by each and every one of its agreements, conditions and covenants <br /> contained in the Loan Documents or any other document evidencing, securing or otherwise relating to the <br /> Bond and the Loan. <br /> Section 4. Conditions for Release of Portions of the Property. <br /> <br /> (a) General Provisions for Release. So long as no default shall have occurred and be <br /> continuing under the Loan Documents, the Borrower may release any of the Property from the lien of this <br /> Deed of Trust without the consent of the registered owner of the Bond, upon receipt by the Deed Trustee <br /> of the following: <br /> <br /> <br /> <br /> <br /> -2- <br />