Real Estate Trust Deed

REAL ESTATE TRUST DEED

This Real Estate Trust Deed ("Deed") is made on , by Trustor Name: , Trustor Address: (hereinafter "Trustor"), in favor of Beneficiary Name: , Beneficiary Address: (hereinafter "Beneficiary"), and naming Trustee Name: , Trustee Address: (hereinafter "Trustee").

RECITALS

WHEREAS, Trustor is seised of and owns or has an interest in the real property described below and desires to grant, convey and assign to Trustee, in trust, said property as security for the payment and performance of the Obligations (as hereinafter defined);

WHEREAS, Beneficiary has delivered or agreed to make advances and extensions of credit to Trustor evidenced by one or more promissory notes, credit agreements, or other instruments (collectively, the "Obligations"), and Beneficiary requires, as a condition of such advances, that Trustor grant a security interest in the Property to secure payment and performance of the Obligations;

WHEREAS, Trustee has agreed to accept the trusts created by this Deed and to exercise the powers herein granted for the benefit of Beneficiary in accordance with the terms hereof.

NOW, THEREFORE

For valuable consideration and to secure the prompt payment, performance and observance of the Obligations, Trustor hereby grants, conveys, assigns, transfers and confirms to Trustee, in trust, with power of sale, the following described real property (the "Property"):

1. OBLIGATION SECURED

This Deed secures the payment and performance of the Obligations, including without limitation all principal, interest, fees, costs, advances and other sums due under the instruments evidencing the Obligation. The maximum principal amount originally secured by this Deed is .

2. PAYMENT; INTEREST; DUE DATE

Trustor shall pay the Obligations in accordance with the terms of the instruments evidencing the Obligations. Interest on unpaid principal shall accrue at the rate of per annum, computed as provided in the Obligation instruments. The principal balance shall be due and payable in full on or before , , unless sooner accelerated pursuant to this Deed.

3. GRANTING CLAUSE; TRUST

Trustor hereby grants, bargains, sells, conveys and assigns to Trustee, in trust for the benefit of Beneficiary, the Property, together with all improvements, rights, easements, appurtenances, rents, issues, profits and proceeds belonging or in any way appertaining thereto, and the right to collect and apply such rents and profits as provided herein. This conveyance is made to secure performance of the Obligations and to vest in Trustee such rights and powers as set forth in this Deed.

4. DEFAULT; ACCELERATION; REMEDIES

Upon default in the payment or performance of the Obligations or any covenant contained herein, and after any applicable notice and cure periods required by law or the Obligations, Beneficiary may declare all sums secured hereby immediately due and payable and may invoke any remedy permitted by law or equity, including without limitation foreclosure by judicial or non-judicial sale in accordance with the laws of the jurisdiction in which the Property is located. Trustor expressly grants Trustee the power of sale and all other powers necessary to effect foreclosure as provided by law.

5. TRUSTEE POWERS

Trustee shall have all powers conferred by applicable statute and by this Deed to accomplish the purposes hereof, including, without limitation: to take possession of the Property after default; to collect and apply rents; to commence, prosecute and defend legal actions; to sell the Property under power of sale; to execute deeds or reconveyances; and to take such other actions necessary to protect the security of Beneficiary. Trustee shall exercise such powers in accordance with the terms of this Deed and applicable law.

6. RECONVEYANCE

Upon payment and performance in full of the Obligations and all sums secured hereby, Beneficiary shall direct Trustee to deliver to Trustor a reconveyance of the Property and shall execute and deliver such documents reasonably necessary to release this Deed of record. Trustee shall reconvey the Property without warranty upon receiving such direction and any fees required by law or agreed herein.

7. ASSIGNMENT

Beneficiary may assign its interest in the Obligations and this Deed at any time without consent of Trustor. Any assignment shall be effective upon written notice to Trustor in accordance with Section 9 below. Upon assignment, the assignee shall have all rights of Beneficiary hereunder.

8. NOTICES

Any notice required or permitted under this Deed shall be in writing and shall be deemed given when delivered personally, when sent by nationally recognized overnight courier, or three (3) days after deposit in the United States mail, postage prepaid, certified or registered mail, return receipt requested, addressed to the party at its address set forth in this Deed or to such other address as any party may designate by notice pursuant to this Section.

9. COSTS, ATTORNEYS' FEES AND EXPENSES

Trustor agrees to pay all costs of enforcing this Deed, including reasonable attorneys' fees, costs of collection, foreclosure costs, trustee's fees and expenses, recording fees, and other charges incurred by Beneficiary or Trustee in protecting the secured interest upon default. Such sums shall be additional Obligations secured by this Deed.

10. GOVERNING LAW

This Deed shall be governed by, and construed in accordance with, the laws of the state or jurisdiction in which the Property is located, without regard to conflict of laws principles.

11. ENTIRE AGREEMENT; SEVERABILITY

This Deed, together with the instruments evidencing the Obligations, contains the entire agreement among the parties with respect to the subject matter hereof. If any provision of this Deed is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

12. AMENDMENT AND WAIVER

No amendment to, or waiver of, any provision of this Deed shall be effective unless in writing and signed by the party against whom enforcement is sought. No delay or omission by Beneficiary in exercising any right shall operate as a waiver of such right.

13. MISCELLANEOUS

Headings used in this Deed are for convenience only and shall not affect interpretation. Time is of the essence with respect to the performance of the Obligations. The parties covenant to execute further documents as necessary to effectuate the purposes of this Deed.

The power of sale is: included excluded

ACKNOWLEDGMENT

The parties acknowledge that they have read this Deed, understand its terms, and agree that this Deed creates a valid and binding security interest in the Property to secure the Obligations described herein.

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