ARE TO BE
PERFORMED AND DISCHARGED, THEN THE LIENS, SECURITY INTERESTS, ESTATES, AND
RIGHTS GRANTED BY THE LOAN DOCUMENTS SHALL TERMINATE, IN ACCORDANCE WITH THE
PROVISIONS HEREOF, OTHERWISE THE SAME SHALL REMAIN IN FULL FORCE AND EFFECT. A
CERTIFICATE OR OTHER WRITTEN STATEMENT EXECUTED ON BEHALF OF TRUSTEE OR
BENEFICIARY CONFIRMING THAT THE INDEBTEDNESS HAS NOT BEEN FULLY PAID OR THE
OBLIGATIONS HAVE NOT BEEN FULLY PERFORMED OR DISCHARGED SHALL BE SUFFICIENT
EVIDENCE THEREOF FOR THE PURPOSE OF RELIANCE BY THIRD PARTIES ON SUCH FACT.
FUTURE INDEBTEDNESS. IT IS SPECIFICALLY CONTEMPLATED BY GRANTOR AND BENEFICIARY
THAT THE INDEBTEDNESS SECURED HEREBY MAY BE INCREASED AND REARRANGED BY
SUBSEQUENT AMENDMENTS, RESTATEMENTS, SUPPLEMENTS AND OTHER MODIFICATIONS AND
ADDITIONS TO THE LOAN DOCUMENTS AND THAT ADDITIONAL PROMISSORY NOTES AND LOAN
AGREEMENTS MAY BE ISSUED AND ENTERED INTO IN CONNECTION THEREWITH. GRANTOR AND
EACH PERSON WHO, AT ANY TIME, MAY CLAIM AN INTEREST IN OR LIEN OR ENCUMBRANCE
AGAINST ALL OR ANY PORTION OF THE MORTGAGED PROPERTY AGREE THAT ALL INDEBTEDNESS
SHALL BE SECURED BY THIS DEED OF TRUST WITH THE SAME PRIORITY AS IF ALL HAD BEEN
ADVANCED, HAD ARISEN OR HAD BECOME OWING OR PERFORMABLE ON THE DATE OF THIS DEED
OF TRUST. THIS DEED OF TRUST SHALL REMAIN IN FULL FORCE AND EFFECT AS TO ALL
FUTURE INDEBTEDNESS AND TO ALL SUBSEQUENT ADVANCES OR SUBSEQUENTLY ARISING
PORTIONS OF THE INDEBTEDNESS WITHOUT LOSS OF PRIORITY UNTIL (A) THE INDEBTEDNESS
IS FULLY AND FINALLY PAID, PERFORMED AND SATISFIED, AND (B) ALL AGREEMENTS AND
OBLIGATIONS, IF ANY, OF BENEFICIARY FOR FURTHER ADVANCES OR FOR THE EXTENSION OF
ADDITIONAL CREDIT HAVE BEEN TERMINATED (INCLUDING, WITHOUT LIMITATION, ANY LOANS
MADE BY BENEFICIARY TO GRANTOR EVEN IF ADVANCES OR LOANS THEREUNDER SHALL BE
OPTIONAL OR NON-OBLIGATORY), AND (C) THIS DEED OF TRUST HAS BEEN RELEASED OF
RECORD BY BENEFICIARY.
WARRANTIES AND REPRESENTATIONS
Grantor hereby unconditionally warrants and represents to Beneficiary, as of the
date hereof and at all times during the term of this Deed of Trust, as follows:
Organization and Power. Grantor and each Constituent Party that is not a natural
person (a) is duly incorporated or duly organized with a legal status separate
from its affiliates, validly existing and in good standing under the laws of the
state of its formation or existence, and has complied with all conditions
prerequisite to its doing business in the state in which the Land is located,
and (b) has all requisite power and all governmental certificates of authority,
licenses, permits, qualifications, and documentation to own, lease, and operate
its properties and to carry on its business as now being, and as proposed to be,
conducted.
Validity of Loan Documents. The execution, delivery, and performance by Grantor,
and by each Constituent Party on behalf of Grantor, of and under the Loan
Documents (a) are within Grantor's and each Constituent Party's powers and have
been duly authorized by Grantor's and each Constituent Party's board of
directors, shareholders, partners, members, managers, venturers, trustees, or
other necessary parties, as the case may be,