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This Senior Deed of Trus4 Security Agreement and Fixture Filing (this
"Llt6 of Trust") is executed as of March 9, 1998. by UNIVERSITY STREET
PROPERTIES II, LLC, a Delaware limited liability company ("Gnntor"), whose
address for notice hereunder is clo Argo Partnership II, L.P., 399 Park Avenue,
25th Floor, New York NY 10022, with a copy to: USP H Investors, L.L.C., c/o
UNICO Properties, Inc., Other Member, 1301 Fifth Avenue, Suite 2500, Seattle, WA
98101, Attention: Quentin Kuhrau, to Chicago Tide Insurance Company, Trustee
("Tt:Yaln"), whose address is t800 Columbia Center, 701 Fifth Avenue, Seattle,
Washington 98104, Washington, for the benefit of GENERAL ELECTRIC
CAPITAL CORPORATION, a New York corporation ("�"), whose
address for notice is 18300 Von Karman Avenue, Suite 700, Irvine, California 92612,
Attn: Region Manager, Portfolio Management Operations,
ARTICLE 1
DEU9TTOM
Sestina 1.1 PS-CRI t M As used herein, the following terns .hall
have the following meanings:
"I12d9htEdri>at1": The sum of all (1) principal, interest and other amounts
due under or secured by the Loan Documents and (2) principal, interest, and other
amounts which may hereafter be loaned by Beneficiary, its successors or assigns, to or
for the benrfit of the owner of the Mortgaged Property, and all other future obligations
that the owner of the Mortgaged Property may agree to pay or perform for the benefit
of Beneficiary, its successors or assigns, in each case when evidenced by a promissory
note or other instrument which, by its terms, is secured hereby.
"JUAWr Dttd of Trust" means the Junior Deed of Trust, Security
Agreement and Fixture Filing of even date herewith, executed by Grantor,
encumbering the Mortgaged Property, and securing the Junior Note and the other
indebtedness therein described.
"Junior Note" means the Junior Promissory Note of even date, in the
stated principal amount of S9,075,000.00, executed by (3rantor and being payable to
the order of Beneficiary as dhercin provided.
I&AR Dumenta": The (I) Loan Agreement of coca date between
Grantor and Beneficiary (the "j,pyp gR1"), (2) the Senior Promissory Note of
even date, executed by Grantor, payable to the order of Beneficiary, in the stated
Principal amount of S38,000„000.00 (the "Senior Nola'), (3) this Deed of Trust, (4) all
other documents now or hereafter executed by Grantor, or any otter persm or entity to
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