|
1. Grant in Trust. Trustor, in consideration of the indebtedness herein recited and
<br />the trust herein created, hereby irrevocably and unconditionally grants, transfers,
<br />conveys, and assigns to Trustee in trust for the benefit of Beneficiary, with power of sale
<br />and right of entry and possession, all of Trustor's right, title, and interest now held or
<br />hereafter acquired in and to the following: (a) all of that certain real property located at
<br />2539 Grant Avenue; San Leandro, County of Alameda, State of California, which is
<br />more particularly described in Exhibit A, attached hereto and incorporated herein by this
<br />reference (the "Land"); (b) all buildings, improvements and fixtures now or hereafter
<br />erected on the Land and all replacements and additions thereto ("Improvements")- (c)
<br />all easements, rights of way, appurtenances, and other rights used in connection with
<br />the Land or as a means of access thereto ("Appurtenances"); (d) all fixtures now or
<br />hereafter attached to or used in and about the Land or the Improvements or hereafter
<br />located or constructed on the Land, and all renewals or replacements thereof or articles
<br />in substitution therefor, whether or not the same are, or shall be attached to the
<br />Improvements in any manner ("Fixtures and Equipment"); and (e) all leases,
<br />subleases, licenses, and other agreements relating to use or occupancy of the Land
<br />("Leases") and all rents or other payments which may now or hereafter accrue or
<br />otherwise become payable to or for the benefit of Trustor ("Rents") (whether or not
<br />such Leases and Rents are permitted pursuant to the Agreement).
<br />All of the above -referenced Land, Improvements, Appurtenances, Fixtures and
<br />Equipment, Leases and Rents are herein referred to collectively as the "Property."
<br />2. Obligations Secured. This Deed of Trust is given for the purpose of securing
<br />payment and performance of all of the following (the "Secured Obligations"): (i) all
<br />present and future indebtedness evidenced by the Note (including all principal and all
<br />other amounts payable pursuant to the Note) and all amendments, modifications,
<br />extensions, and renewals of the Note; (ii) all present and future obligations of Trustor
<br />set forth in this Deed of Trust or in the Agreement; (iii) all additional present and future
<br />obligations of Trustor to Beneficiary under any other agreement or instrument
<br />acknowledged by Trustor (whether existing now or in the future) which states that it is or
<br />such obligations are, secured by this Deed of Trust; (iv) all modifications, supplements,
<br />amendments, renewals, and extensions of any of the foregoing, whether evidenced by
<br />new or additional documents; and (v) reimbursement of all amounts advanced by or on
<br />behalf of Beneficiary to protect Beneficiary's interests under this Deed of Trust.
<br />3. Assignment of Rents, Issues, and Profits. Trustor hereby irrevocably, absolutely,
<br />presently and unconditionally assigns to Beneficiary the rents, royalties, issues, profits,
<br />revenues, income and proceeds of the Property. This is an absolute assignment and not
<br />an assignment for security only. Beneficiary hereby confers upon Trustor a license to
<br />collect and retain such rents, royalties, issues, profits, revenues, income and proceeds
<br />as they become due and payable prior to any Event of Default hereunder. Upon the
<br />occurrence of any such Event of Default, Beneficiary may terminate such license
<br />without notice to or demand upon Trustor and without regard to the adequacy of any
<br />security for the indebtedness hereby secured, and may either in person, by agent, or by
<br />a receiver to be appointed by a court, enter upon and take possession of the Property or
<br />2
<br />
|