Common use of Grant and Conveyance Clause in Contracts

Grant and Conveyance. FOR VALUE RECEIVED, and for the purpose of securing the Obligations (as defined below), Grantor hereby irrevocably grants, bargains, sells, conveys, assigns, and transfers to Trustee, in trust, for the benefit and security of the Beneficiary, WITH POWER OF SALE and right of entry and possession, all of Grantor's right, title, and interest in and to that certain real property situated in the County of , State of Oregon, and described in Exhibit A attached hereto and by this reference incorporated herein (the “Land”); All buildings, structures and improvements now or at any time hereafter erected, constructed and situated upon the Land or any part thereof (collectively, "Improvements") and all apparatus, appliances, furnaces, boilers, machinery, engines, equipment and other like property and fixtures of every kind and description now or hereafter affixed or attached to or located in any such Improvements; All furniture, fixtures (including without limitation appliances), equipment, and other personal property used in connection with the operation of the Land and Improvements; and All general intangibles, licenses, accounts, contracts and contract rights (including construction and architect contracts), leases, rental agreements, and other agreements for the use and occupancy of residential or commercial space in the Improvements, Rents (as defined in Section 4 below), plans and specifications, engineering environmental or other reports and studies, management contracts or agreements, zoning rights and privileges, permits, and certificates required, used or created in connection with the construction, ownership, operation or maintenance of the Land or Improvements. The Land, Improvements, and all other property described above are hereinafter collectively referred to as the "Property". Grantor is indebted to Beneficiary according to the terms of the Note of even date herewith in the principal amount of $ , under which the final payment will be due on . The Note, together with any note or notes given in renewal, modification, substitution or in addition to the promissory note originally issued, is referred to herein as the "Note." This Trust Deed, and the lien and security interest granted hereunder, are given to secure (a) repayment of all principal, interest and other charges under the Note, (b) performance of all obligations of Grantor under that certain Loan Agreement of even date herewith between Grantor and Beneficiary, as amended from time to time ("Loan Agreement"), (c) any future amounts that Beneficiary may in its discretion loan to Grantor, with interest thereon, (d) any amounts expended or advanced by Beneficiary to discharge obligations of Grantor or expenses incurred by Beneficiary or Trustee to enforce obligations of Grantor, as permitted under this Trust Deed, with interest thereon at the Default Rate, (e) performance of all other obligations of Grantor under this Trust Deed or under the Note, (f) the payment and performance of all covenants and obligations in all other Loan Documents, and (g) the payment and performance of any and all other indebtedness and obligations of Grantor to Beneficiary of any nature whatsoever, whether direct or indirect, primary or secondary, joint or several, liquidated or unliquidated, whenever and however arising, and whether or not reflected in a written agreement or instrument (collectively sometimes referred to as “Obligations”). TO PROTECT THE SECURITY OF THIS TRUST DEED, GRANTOR COVENANTS AND AGREES TO THE TERMS SET FORTH IN THIS TRUST DEED.

Grant and Conveyance. FOR VALUE RECEIVED, and for the purpose of securing the Obligations (as defined below), Grantor hereby irrevocably grants, bargains, sells, conveys, assigns, and transfers to Trustee, in trust, for the benefit and security of the Beneficiary, WITH POWER OF SALE and right of entry and possession, all of Grantor's ’s right, title, and interest in and to that certain real property situated in the County of [County], State of Oregon, and described in Exhibit A attached hereto and by this reference incorporated herein (the “Land”); All buildings, structures and improvements now or at any time hereafter erected, constructed and situated upon the Land or any part thereof (collectively, "“Improvements"”) and all apparatus, appliances, furnaces, boilers, machinery, engines, equipment and other like property and fixtures of every kind and description now or hereafter affixed or attached to or located in any such Improvements; All furniture, fixtures (including without limitation appliances), equipment, and other personal property used in connection with the operation of the Land and Improvements; and All general intangibles, licenses, accounts, contracts and contract rights (including construction and architect contracts), leases, rental agreements, and other agreements for the use and occupancy of residential or commercial space in the Improvements, Rents (as defined in Section 4 below), plans and specifications, engineering environmental or other reports and studies, management contracts or agreements, zoning rights and privileges, permits, and certificates required, used or created in connection with the construction, ownership, operation or maintenance of the Land or Improvements. The Land, Improvements, the Improvements and all other property described above are hereinafter collectively referred to herein as the "“Property"”. Grantor is indebted to Beneficiary according to the terms of the that certain Promissory Note of even date herewith (the “Promissory Note”) in the principal amount of $ not to exceed $[X,XXX,XXX], under which the final payment will be due on [date]. The Promissory Note, together with any note or notes given in renewal, modification, substitution or in addition to the promissory note Promissory Note originally issued, is referred to herein as the "“Note." ”. This Trust Deed, and the lien and security interest granted hereunder, are given to secure : (a) repayment of all principal, interest and other charges under the Note, ; (b) performance of all obligations of Grantor under that certain Loan Agreement of even date herewith between Grantor and Beneficiary, as amended from time to time ("the “Loan Agreement"”), ; (c) performance of all obligations of Grantor under the Operating Agreement; (d) any future amounts that Beneficiary may in its discretion loan to Grantor, with interest thereon, ; (de) any amounts expended or advanced by Beneficiary to discharge obligations of Grantor or expenses incurred by Beneficiary or Trustee to enforce obligations of Grantor, as permitted under this Trust Deed, with interest thereon at the Default Rate, ; (ef) performance of all other obligations of Grantor under this Trust Deed or under the Note, ; (fg) the payment and performance of all covenants and obligations in all other Loan Documents, Documents (as defined in the Loan Agreement); and (gh) the payment and performance of any and all other indebtedness and obligations of Grantor to Beneficiary of any nature whatsoever, whether direct or indirect, primary or secondary, joint or several, liquidated or unliquidated, whenever and however arising, and whether or not reflected in a written agreement or instrument (all of the foregoing are collectively sometimes referred to herein as the “Obligations”). TO PROTECT THE SECURITY OF THIS TRUST DEED, GRANTOR COVENANTS AND AGREES TO THE TERMS SET FORTH IN THIS TRUST DEED.