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described herein as additional security for the Note, ( f ) the
<br /> unconditional guaranty by the Company of the timely payment of
<br /> the principal of, premium, if any, and interest on the Bond
<br /> pursuant to the terms of a Guaranty Agreement , of even date
<br /> herewith ( the "Company Guaranty" ) , as additional security for the
<br /> Bond, and (g) the unconditional guaranty by Mr . & Mrs. Jerome J.
<br /> Richardson of the timely payment of the principal of, premium, if
<br /> any, and interest on the Bond pursuant to the terms of a Guaranty
<br /> Agreement, of even date herewith (the "Personal Guaranty" ) , as
<br /> additional security for the Bond; and
<br /> WHEREAS, the Company is indebted to the Beneficiary in the
<br /> sum of $1,500,000 for money loaned, as evidenced by, and payable
<br /> as provided in, the Note, with interest payable as and at the
<br /> rates specified therein, with the last payment of principal and
<br /> interest being due and payable on July 1, 1996 ; and
<br /> WHEREAS, the Company desires to secure ( i ) the payment of
<br /> the principal of the Note together with interest and premium, if
<br /> any, thereon, ( ii ) the payment of any and all other indebtedness
<br /> which this Deed of Trust by its terms secures, and ( iii ) the
<br /> performance of the covenants and agreements contained in this
<br /> Deed of Trust , the Loan Agreement, the Security Agreement and the
<br /> Bond Purchase Agreement and any amendments and supplements
<br /> thereto;
<br /> NOW, THEREFORE, the Company, as additional security for the
<br /> Note and any other obligations under the Bond Documents and in
<br /> further consideration of the sum of $1. 00 paid to the Company by
<br /> the Trustee, receipt and sufficiency of which are hereby
<br /> acknowledged, has given, granted, bargained and sold, and by
<br /> these presents does give, grant, bargain, sell and convey unto
<br /> the Trustee, his successors and assigns, the real property lying
<br /> and being in Orange County in the State of North Carolina, more
<br /> particularly described as set forth in Schedule I attached hereto
<br /> and made a part hereof;
<br /> TOGETHER with all improvements and fixtures now or hereafter
<br /> erected or located thereon, all rights, appurtenances, easements,
<br /> privileges, remainders and reversions appertaining thereto and
<br /> all apparatus, equipment, fixtures and articles of personal
<br /> property now or hereafter attached to the real property described
<br /> above as fixtures, and all parts, substitutes, renewals or
<br /> replacements thereof, and additions, modifications, improvements,
<br /> accumulations and accessions thereto, including, but not limited
<br /> to, all heating, refrigerating, air conditioning, gas, plumbing
<br /> and electric apparatus and equipment, all boilers, engines ,
<br /> motors, power equipment, piping and plumbing fixtures, pumps,
<br /> tanks, lighting equipment and systems, fire prevention and
<br /> sprinkling equipment and systems, and other things now or
<br /> 2 .
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