|
In consideration of the foregoing and for the purpose of securing payment and
<br />performance of the Secured Obligations defined and described in Section 2, Trustor
<br />hereby irrevocably and unconditionally grants, conveys, transfers and assigns to
<br />Trustee, in trust for the benefit of Beneficiary, with power of sale and right of entry and
<br />possession, all estate, right, title and interest which Trustor now has or may later
<br />acquire in and to the Land, and all of the following, whether presently owned or
<br />hereafter acquired:
<br />a. All buildings, structures, and improvements, now or hereafter located or
<br />constructed on the Land ("Improvements");
<br />b. All appurtenances, easements, rights of way, pipes, transmission lines or
<br />wires and other rights used in connection with the Land or the Improvements or as a
<br />means of access thereto, whether now or hereafter owned or constructed or placed
<br />upon or in the Land or Improvements and all existing and future privileges, rights,
<br />franchises and tenements of the Land, including all minerals, oils, gas and other
<br />commercially valuable substances which may be in, under or produced from any part of
<br />the Land, and all water rights, rights of way, gores or strips of land, and any land lying in
<br />the streets, ways, and alleys, open or proposed, in front of or adjoining the Land and
<br />Improvements (collectively, "Appurtenances");
<br />c. All machinery, equipment, fixtures, goods and other personal property of
<br />the Trustor, whether moveable or not, now owned or hereafter acquired by the Trustor
<br />and now or hereafter located at or used in connection with the Land, the Improvements
<br />or Appurtenances, and all improvements, restorations, replacements, repairs, additions
<br />or substitutions thereto (collectively, "Equipment");
<br />d. All existing and future leases, subleases, licenses, and other agreements
<br />relating to the use or occupancy of all or any portion of the Land or Improvements
<br />(collectively, "Leases"), all amendments, extensions, renewals or modifications thereof,
<br />and all rent, royalties, or other payments which may now or hereafter accrue or
<br />otherwise become payable thereunder to or for the benefit of Trustor, including but not
<br />limited to security deposits (collectively, "Rents");
<br />e. All insurance proceeds and any other proceeds from the Land,
<br />Improvements, Appurtenances, Equipment, Leases, and Rents, including without
<br />limitation, all deposits made with or other security deposits given to utility companies, all
<br />claims or demands relating to insurance awards which the Trustor now has or may
<br />hereafter acquire, including all advance payments of insurance premiums made by
<br />Trustor, and all condemnation awards or payments now or later made in connection
<br />with any condemnation or eminent domain proceeding ("Proceeds"); and
<br />f. All revenues, income, rents, royalties, payments and profits produced by
<br />the Land, Improvements, Appurtenances and Equipment, whether now owned or
<br />hereafter acquired by Trustor ("Gross Revenues");
<br />1177360-2 2
<br />
|