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<br /> Agreement, the Bank Deed of Trust, and the Bank Financing Statement, and all documents
<br /> executed by the Authority in connection therewith, are referred to collectively as the "Bank
<br /> Documents."
<br /> D. County's Interest. The County and Senior Services of Snohomish County, a
<br /> Washington non-profit corporation ("SSSC") were the original parties to that certain HOME
<br /> Loan Agreement, dated August 15, 2008 (the "HOME Agreement"), whereby the County lent
<br /> to SSSC the sum of $647,150 (the "HOME Loan"). The HOME Loan is evidenced by a
<br /> Promissory Note dated August 15, 2008 (the "HOME Loan Note"), made by SSSC for the
<br /> benefit of the County. SSSC assigned all its obligations under the HOME Loan Note and the
<br /> HOME Loan Agreement to Prior Owner pursuant to an Assignment, Assumption and Consent
<br /> Agreement, dated as of August 15, 2008, and recorded under Snohomish County recording
<br /> number 200808150541. Repayment of the HOME Loan Note is secured by a Deed of Trust
<br /> dated August 15, 1998 in favor of Chicago Title Insurance Company, as trustee,and the County
<br /> as beneficiary, recorded under Snohomish County recording no.200808150540 (the "County
<br /> Deed of Trust"), encumbering the Property. In addition, the Prior Owner and the County
<br /> executed a Use Restriction Covenant Agreement dated August 13, 2008, and recorded under
<br /> Snohomish County recording number 200808150536 (the "County Covenant"). All of the
<br /> Prior Owner's obligations under the HOME Loan Agreement, the HOME Loan Note, the
<br /> County Deed of Trust and the County Covenant have been assigned to and assumed by the
<br /> Authority pursuant to that certain [Assignment, Assumption and Consent Agreement dated as
<br /> of 2015, and recorded under Snohomish County recording number
<br /> .] All documents identified in this paragraph, and any documents executed
<br /> by the Authority in connection therewith, are collectively referred to as the "County Loan
<br /> Documents."
<br /> E. City's Interest. SSSC and the City are parties to that certain City of Everett 2060
<br /> HTF Agreement, dated as of July 23, 2008 (the "City Loan Agreement")whereby the City lent
<br /> to SSSC the sum of$200,000 (the "City Loan"). The City Loan is evidenced by a Promissory
<br /> Note (the "City Note"), made by SSSC for the benefit of the City. SSSC assigned all its
<br /> obligations under the City Note and the City Loan Agreement to Prior Owner pursuant to an
<br /> Assignment,Assumption and Consent Agreement,dated as of July 23, 2008,and recorded under
<br /> Snohomish County recording number 200810010358. Repayment of the City Note is secured
<br /> by, among other security documents, a Deed of Trust dated July 16, 2008, in favor of Chicago
<br /> Title Insurance Company, as trustee, and the City as beneficiary, recorded under Snohomish
<br /> County recording no.200810010357 (the "City Deed of Trust"), encumbering the Property. In
<br /> addition, Prior Owner and the City executed a Use Restriction Covenant Agreement dated
<br /> July 31,2008,recorded under Snohomish County recording number 200810010356 (the "City
<br /> Regulatory Agreement"). All of the Prior Owner's rights and obligations under the City Loan
<br /> Agreement,the City Note,the City Deed of Trust and the City Regulatory Agreement have been
<br /> assigned to and assumed by the Authority pursuant to that certain [Assignment, Assumption
<br /> and Consent Agreement dated as of _, 2015, and recorded under Snohomish County
<br /> recording number .] All documents identified in this paragraph, and any
<br /> Silver Lake Cottages
<br /> Priority and Subordination Agreement Page 2
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