LONG AS) THE TERMS
THEREOF PROHIBIT THE ASSIGNMENT OF, OR GRANTING A SECURITY INTEREST IN, SUCH
AGREEMENT (IT BEING UNDERSTOOD AND AGREED, HOWEVER, (I) THAT NOTWITHSTANDING THE
FOREGOING, ALL RIGHTS TO PAYMENT FOR MONEY DUE OR TO BECOME DUE PURSUANT TO ANY
SUCH EXCLUDED AGREEMENT SHALL BE SUBJECT TO THE SECURITY INTERESTS CREATED BY
THIS DEED OF TRUST AND (II) SUCH EXCLUDED AGREEMENT SHALL OTHERWISE BE SUBJECT
TO THE SECURITY INTERESTS CREATED BY THIS DEED OF TRUST UPON RECEIVING ANY
NECESSARY APPROVALS OR WAIVERS PERMITTING THE ASSIGNMENT THEREOF), (8) ALL
RIGHTS, PRIVILEGES, TENEMENTS, HEREDITAMENTS, RIGHTS-OF-WAY, EASEMENTS,
APPENDAGES AND APPURTENANCES APPERTAINING TO THE FOREGOING, (9) ALL PROPERTY TAX
REFUNDS PAYABLE TO TRUSTOR WITH RESPECT TO THE PREMISES (THE "TAX REFUNDS"),
(10) ALL ACCESSIONS, REPLACEMENTS AND SUBSTITUTIONS FOR ANY OF THE FOREGOING AND
ALL PROCEEDS THEREOF (THE "PROCEEDS"), (11) SUBJECT TO THE TERMS OF THE CREDIT
AGREEMENT GOVERNING INSURANCE PROCEEDS, ALL INSURANCE POLICIES, UNEARNED
PREMIUMS THEREFOR AND PROCEEDS FROM SUCH POLICIES COVERING ANY OF THE ABOVE
PROPERTY NOW OR HEREAFTER ACQUIRED BY TRUSTOR WITH RESPECT TO THE PREMISES (THE
"INSURANCE"), AND (12) SUBJECT TO THE TERMS OF THE CREDIT AGREEMENT GOVERNING
CONDEMNATION AWARDS, ALL AWARDS, DAMAGES, REMUNERATIONS, REIMBURSEMENTS,
SETTLEMENTS OR COMPENSATION HERETOFORE MADE OR HEREAFTER TO BE MADE BY ANY
GOVERNMENTAL AUTHORITY PERTAINING TO ANY CONDEMNATION OR OTHER TAKING (OR ANY
PURCHASE IN LIEU THEREOF) OF ALL OR ANY PORTION OF THE LAND, IMPROVEMENTS,
FIXTURES OR PERSONALTY (THE "CONDEMNATION AWARDS").
AS USED IN THIS DEED OF
TRUST, THE TERM "TRUST PROPERTY" SHALL MEAN ALL OR, WHERE THE CONTEXT PERMITS OR
REQUIRES, ANY PORTION OF THE ABOVE OR ANY INTEREST THEREIN.
(J)
"UCC":
THE UNIFORM COMMERCIAL CODE OF CALIFORNIA OR, IF THE CREATION,
PERFECTION AND ENFORCEMENT OF ANY SECURITY INTEREST HEREIN GRANTED IS GOVERNED
BY THE LAWS OF A STATE OTHER THAN CALIFORNIA, THEN, AS TO THE MATTER IN
QUESTION, THE UNIFORM COMMERCIAL CODE IN EFFECT IN THAT STATE.
2
ARTICLE 2
GRANT
SECTION 2.1
GRANT. TO SECURE THE FULL AND TIMELY PAYMENT OF THE
OBLIGATIONS AND THE FULL AND TIMELY PERFORMANCE OF THE SECURED OBLIGATIONS,
TRUSTOR GRANTS, BARGAINS, ASSIGNS, SELLS, CONVEYS AND CONFIRMS, UNTO THE TRUSTEE
FOR THE BENEFIT OF BENEFICIARY, WITH POWER OF SALE AS DESCRIBED HEREIN AND RIGHT
OF ENTRY AND POSSESSION, THE TRUST PROPERTY, SUBJECT, HOWEVER, ONLY TO THE
MATTERS SET FORTH ON EXHIBIT B ATTACHED HERETO (THE "PERMITTED ENCUMBRANCES")
AND TO PERMITTED LIENS, TO HAVE AND TO HOLD THE TRUST PROPERTY TO TRUSTEE AND
BENEFICIARY, AND TRUSTOR DOES HEREBY BIND ITSELF, ITS SUCCESSORS AND ASSIGNS TO
WARRANT AND FOREVER DEFEND THE TITLE TO THE TRUST PROPERTY UNTO BENEFICIARY.
THIS GRANT IS MADE IN TRUST, THAT IF THE TRUSTOR SHALL PAY AND PERFORM OR CAUSE
TO BE PAID AND PERFORMED ALL OF THE OBLIGATIONS AND SHALL PAY AND PERFORM OR
CAUSE TO BE PAID AND PERFORMED ALL OF THE SECURED OBLIGATIONS IN ACCORDANCE WITH
THE TERMS OF THE LOAN DOCUMENTS, THEN THIS CONVEYANCE SHALL BE NULL AND VOID AND
MAY BE CANCELED OF RECORD AT THE REQUEST AND