RecDoc 2021-146160 353 Main Street Apartments

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FOR THE PURPOSE OF SECURING THE FOLLOWING OBLIGATIONS (collectively, the "Secured Obligations"): A. Payment of just indebtednesses of Trustor to Beneficiary of all sums at any time owing under, or in connection with, the Promissory Note (defined in Article 1 below) until paid or cancelled and any other amounts owing under the City Loan Documents. Said principal and other payments are due and payable as provided in the Promissory Note. The Promissory Note and all its terms are incorporated herein by reference, and this conveyance secures any and all extensions thereof, however evidenced; B. Payment of any sums advanced by Beneficiary to protect the Security pursuant to the terms and provisions of this Deed of Trust following a breach of Trustor's obligation to advance said sums and the expiration of any applicable cure period, with interest thereon as provided herein; C. Performance of every obligation, covenant or agreement of Trustor contained herein and in the City Loan Documents (defined in Article 1 below); and D. All modifications, extensions and renewals of any of the Secured Obligations (including without limitation: (1) modifications, extensions or renewals at a different rate of interest; or (2) deferrals or accelerations of the required principal payment dates or interest payment dates or both, in whole or in part), however evidenced, whether or not any such modification, extension or renewal is evidenced by a new or additional promissory note or notes (defined in Article 1 below). AND TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES: ARTICLE 1: DEFINITIONS Section 1.1 Definitions. In addition to the terms defined elsewhere in this Deed of Trust, the following terms have the following meanings in this Deed of Trust: (a) "City Loan Documents" means this Deed of Trust, the Promissory Note, the Regulatory Agreement, the Loan Agreement, and any other debt, loan or security instruments between Trustor and the Beneficiary relating to the Property. (b) "City Loan" means the loan made by the Beneficiary to the Trustor in the amount of up to Three Million Five Hundred Thousand Dollars ($3,500,000). (c) "Promissory Note" means that certain promissory note in the amount of Three Million Five Hundred Thousand Dollars ($3,500,000) dated as of June _, 2020, herewith executed by the Trustor in favor of the Beneficiary, the payment of which is secured by this Deed of Trust. (A copy of the Promissory Note is on file with the Beneficiary and terms and provisions of the Promissory Note are incorporated herein by reference.) 3 11 99\092723506.3 Document Number: 2021-146160 Page: 4 of 25