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Deed Of Trust

This deed of trust, dated the ______ day of ______ 20 _ is made between, _________________, whose address is __________________, herein referred to as TRUSTOR, and ________________________________________, herein referred to as the TRUSTEE, and the (Undersigned -- Individual/Company), the beneficiary of this agreement, whose address is ________________ herein referred to as UNDERSIGNED.

WITNESSETH:

TRUSTOR conveys to UNDERSIGNED, in trust with power of sale, the real estate property having a physical address of ___________, and legally described as follows:

Together with all improvements now or hereafter erected on the property, and all easements, rights, appurtenances and rents, all of which shall be deemed to be and remain a part of the property covered by this deed of trust.

The purpose of this deed of trust is to secure performance by the TRUSTOR of its promises described in UNDERSIGNED grant Agreement, signed on _____, 20 _ (copy attached). This agreement provides for the use of the real property described above for a period of at least twenty (20) years by the TRUSTOR, or by the lessee of the TRUSTOR, for the public purpose set forth in the grant agreement. The 20-year period of this deed of trust shall commence on the date of this deed of trust.

The parties further agree as follows:

1. The principal amount secured hereby shall be ($------) The principal amount shall accrue interest at the rate of --% per year. If TRUSTOR uses the property for the purposes set forth in the grant agreement for the twenty year term as required by the Grant Agreement, the indebtedness secured by this deed of trust shall be forgiven and TRUSTOR's indebtedness under the note shall be zero. In the event UNDERSIGNED extends the date of debt forgiveness under the Deed of Trust Note, the term of this deed of trust shall be automatically extended to the same date.

2. TRUSTOR, in its use of the property, shall comply with all of the terms and conditions set forth in the Grant Agreement, as it now exists or may hereafter be amended, including but not limited to any subsequent grant agreement which may hereafter be entered into by TRUSTOR and UNDERSIGNED regarding the subject property, and all other...

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