Agenda Package - 10-1-12 Reg. Meeting

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08L any, with respect to all or any part of any of the foregoing (the real property, fixtures and proceeds granted to the Deed of Trust Trustee pursuant to the foregoing provisions hereof being collectively referred to as the "Mortgaged Property "); TO HAVE AND TO HOLD the Mortgaged Property, with all the rights, privileges and appurtenances thereunto belonging or appertaining to the Deed of Trust Trustee, its heirs, successors and assigns, in fee simple forever, upon the trusts and for the uses and purposes hereinafter set out: AND THE PURCHASER COVENANTS to and with the Deed of Trust Trustee and the Beneficiary that the Purchaser is seized of the Mortgaged Property in fee, that the Purchaser has the right to convey the Mortgaged Property in fee simple, that the Mortgaged Property is free and clear from all encumbrances and restrictions not specifically mentioned in Exhibit B attached hereto and made a part hereof, and that the Purchaser does hereby forever warrant and will forever defend the title to the Mortgaged Property (except for those matters set forth in Exhibit B) against the claims of all persons whatsoever; provided, however, that HOWEVER, THIS CONVEYANCE IS MADE UPON THIS SPECIAL TRUST, that if the Purchaser shall make all of the payments required under the Agreement secured hereby in accordance with its terms, together with interest thereon and all taxes, charges, assessments and any premiums for insurance hereby secured, and, further, shall comply with all the covenants, terns and conditions of this Deed of Trust and the Agreement and any amendments and supplements thereto, then this conveyance shall be null and void and may be canceled of record at the request and at the cost of the Purchaser. THE PURCHASER FURTHER COVENANTS, REPRESENTS AND AGREES AS FOLLOWS: Section I. Amount Secured: Maintenance and Modification of Mortgaged Property by County This Deed of Trust secures all present and future indebtedness owing by the Purchaser under the Agreement and this Deed of Trust. The principal amount of the indebtedness is $675,000. The Deed of Trust Trustee shall not be under any obligation to operate, maintain or repair the Mortgaged Property. The Purchaser agrees that it will at its own expense (a) keep the Mortgaged Property in as reasonably safe condition as its operations shall permit, (b) keep the Mortgaged Property in good repair and in good operating condition, (c) comply with all applicable governmental requirements imposed upon the Mortgaged Property or in connection with its use and (d) make from time to time all necessary repairs thereto and renewals and replacements thereof. Subject to the provisions of the Agreement, the Purchaser may also, at its own expense, make from time to time any additions, modifications or improvements to the real property covered hereby that it may deem desirable and that do not materially impair the effective use, nor materially decrease the value, of the Mortgaged Property. All such additions, modifications and improvements so made by the Purchaser within the boundaries of the Mortgaged Property shall become a part of the Mortgaged Property. The Purchaser will do, or cause to be done, all such 3