WHEN RECORDED, RETURN TO:
Benjamin F.S. Herd, Esq.
Winstead Sechrest & Minick P.C.
5400 Renaissance Tower
1201 Elm Street
Dallas, Texas 75270
TO BE RECORDED IN THE
SECURITY DEED RECORDS OF
HALL COUNTY, GEORGIA
DEED TO SECURE DEBT AND SECURITY AGREEMENT
Loan No. CF3655000
THIS DEED TO SECURE DEBT AND SECURITY AGREEMENT (this "Security Deed") executed
on August 1, 2006, but to be effective as of August 1, 2006, by SUN COUNTRYSIDE
LAKE LANIER LLC, a Michigan limited liability company, as grantor for all
purposes hereunder ("Borrower"), whose address is 27777 Franklin Road, Suite
200, Southfield, Michigan 48034, Attention: Jonathan M. Colman, in favor of ARCS
COMMERCIAL MORTGAGE CO., L.P., a California limited partnership, as grantee for
all purposes hereunder ("Lender"), whose address is 26901 Agoura Road,
Suite 200, Calabasas Hills, California 91301. For all state law, statutory and
other purposes hereunder, (i) the term "Borrower" as used herein shall be deemed
to mean a grantor of the Property as described herein the same as if the term
"grantor" were used in lieu of the term "Borrower" throughout this Security
Deed, and (ii) the term "Lender" as used herein shall be deemed to mean a
grantee of the Property with all of the rights conferred hereby the same as if
the term "grantee" were used in lieu of the term "Lender" throughout this
Security Deed.
W I T N E S S E T H:
THAT FOR AND IN CONSIDERATION OF THE SUM OF TEN AND NO/100 DOLLARS ($10.00), AND
OTHER VALUABLE CONSIDERATION, INCLUDING THE INDEBTEDNESS HEREIN RECITED AND THE
TRUST HEREIN CREATED, THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY
ACKNOWLEDGED, BORROWER HEREBY IRREVOCABLY GRANTS, BARGAINS, SELLS, CONVEYS,
TRANSFERS, PLEDGES, SETS OVER AND ASSIGNS, AND GRANTS A SECURITY INTEREST, TO
AND IN FAVOR OF LENDER, ITS SUCCESSORS AND ASSIGNS, with power of sale, in all
of Borrower's estate, right, title and interest in, to and under any and all of
the following described property, whether now owned or hereafter acquired
(collectively, the "Property"):
•
All that certain real property situated in the County of Hall, State of
Georgia, more particularly described on Exhibit_A attached hereto and
incorporated herein by this reference (the "Real Estate"), together with all of
the easements, rights, privileges, franchises, tenements, hereditaments and
appurtenances now or hereafter thereunto belonging or in any way appertaining
thereto and all of the estate, right, title, interest, claim and demand
whatsoever of Borrower therein or thereto, either at law or in equity, in
possession or in expectancy, now owned or hereafter acquired;
•
All structures, buildings and improvements of every kind and
description owned by Borrower now or at any time hereafter located or placed on
the Real Estate (the "Improvements");
•
Borrower's interest in all easements, rights-of-way, strips and
gores of land, vaults, streets, ways, alleys, passages, sewer rights, and other
emblements now or hereafter located on the Real Estate or under or above the
same or any part or parcel thereof, and all estates, rights, titles, interests,
tenements,