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37 <br /> The Property Owner is the record owner of the Mortgaged Property. This Deed of Trust <br /> is given to secure current indebtedness under the Loan Documents of $_,000. The current <br /> scheduled date for final repayment is on or about January 1, 20_. <br /> NOW, THEREFORE, <br /> (1) in consideration of the execution and delivery by <br /> NONPROFIT CORPORATION of the Loan Documents (the <br /> terms of which are incorporated herein by reference) and other good and valuable consideration, <br /> the receipt and sufficiency of which are acknowledged, <br /> (2) to secure the Property Owners' performance of all its covenants under this Deed <br /> of Trust and ,NONPROFIT CORPORATION's performance of <br /> its obligations under the Loan Documents, including the repayment of amounts advanced <br /> pursuant to the Loan Documents, and <br /> (3) to charge the Mortgaged Property, as defined below, with such payment and <br /> performance, <br /> the Grantors have bargained, sold, given and conveyed and does by these presents bargain, sell, <br /> give, grant and convey to the Deed of Trust Trustee, his successors and assigns forever, in trust, <br /> with power of sale,the following (collectively,the "Mortgaged Property"): <br /> The real property described in Exhibit A, and all real property hereafter acquired by the <br /> Property Owner in replacement of, or in substitution for, all or any part of such premises, <br /> together with all easements, rights, rights-of-way and appurtenances belonging to such <br /> property. <br /> TO HAVE AND TO HOLD the Mortgaged Property with all privileges and <br /> appurtenances thereunto belonging,to the Deed of Trust Trustee,his heirs and assigns forever, <br /> upon the trusts,terms and conditions and for the uses set out below, in fee simple in trust; <br /> SUBJECT,HOWEVER,to the encumbrances described in Exhibit B (the "Existing <br /> Encumbrances"); <br /> BUT THIS CONVEYANCE IS MADE UPON THIS SPECIAL TRUST: if the <br /> ,NONPROFIT CORPORATION's obligations (as defined in <br /> the Loan Documents and Promissory Note) are paid in full and the Property Owners shall <br /> comply with all of the terms, covenants and conditions of the Loan Documents and this Deed of <br /> Trust,this conveyance shall be null and void and shall be canceled of record at the Property <br /> Owners' request and cost, and title shall revest as provided by law. <br /> BUT IF,HOWEVER, THERE SHALL OCCUR AN EVENT OF DEFAULT <br /> UNDER THE LOAN AGREEMENT,then the County shall have the remedies provided for in <br /> this Deed of Trust, including directing the Deed of Trust Trustee to sell the Mortgaged Property <br /> under power of sale. <br /> 2 <br />