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11 <br /> TO HAVE AND TO HOLD the Mortgaged Property with all privileges and <br /> appurtenances belonging thereunto, to the Deed of Trust Trustee, her successors and <br /> assigns forever, upon the trusts, terms and conditions and for the purposes set out <br /> below, in fee simple in trust; <br /> SUBJECT, HOWEVER, to the encumbrances described in Exhibit B; <br /> BUT THIS CONVEYANCE IS MADE UPON THIS SPECIAL TRUST: if the County <br /> pays its "Obligations," as defined in Section 1-1 below, in full and in accordance with <br /> the Loan Documents, and the County complies with all the terms, covenants and <br /> conditions of the Loan Documents, this conveyance will be null and void and will be <br /> canceled of record at the County's request and cost, and title will revest as provided <br /> by law; <br /> BUT IF, HOWEVER, THERE OCCURS AN EVENT OF DEFAULT UNDER THE <br /> LOAN DOCUMENTS,then BNY-M will have the remedies provided for in this Modified <br /> Deed of Trust, including directing the Deed of Trust Trustee to sell the Mortgaged <br /> Property under power of sale. <br /> The County covenants with the Deed of Trust Trustee and BNY-M that the <br /> County is seized of and has the right to convey the Mortgaged Property in fee simple, <br /> that the Mortgaged Property is free and clear of all liens and encumbrances other than <br /> Permitted Encumbrances, as defined in the Prior Agreement and the 2020 <br /> Agreement, that title to the Mortgaged Property is marketable, and that the County <br /> will forever warrant and defend title to the Mortgaged Property (subject to the <br /> Permitted Encumbrances) against the claims of all persons. <br /> THE COUNTY COVENANTS AND AGREES with the Deed of Trust Trustee and <br /> BNY-M (and their respective heirs, successors and assigns), in consideration of the <br /> foregoing, as follows: <br /> 1. Security Provided <br /> 1-1 Security for Payment and Performance. The Modified Deed of <br /> Trust secures the County's payment, as and when the same become due and payable, <br /> of all amounts payable by the County under the Loan Documents (the "Obligations") <br /> and the County's timely compliance with all terms, covenants and conditions of (a) <br /> 4 <br />