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S
<br /> Attachment C
<br /> When recorded return to:
<br /> City of Everett
<br /> 2930 Wetmore Avenue, Suite 8B
<br /> Everett, WA 98201
<br /> Form of
<br /> DEED OF TRUST
<br /> THIS DEED OF TRUST, made this day of June 2006 , by and among Monte Cristo
<br /> Partners, L.P. a Washington limited partnership, GRANTOR, whose address
<br /> Pacific Northwest Title Insurance Company,
<br /> Inc., a Washington corporation, TRUSTEE, whose address is 3224 Wetmore Avenue, Everett,
<br /> WA 98201, and City of Everett, a political subdivision of the State of Washington,
<br /> BENEFICIARY, whose address is 2930 Wetmore Avenue, Suite 8B, Everett, WA. 98201.
<br /> WITNESSETH: Grantor hereby bargains, sells and conveys to Trustee in Trust, with power of
<br /> sale, the real property in Snohomish County, Washington described in Exhibit 1 attached
<br /> hereto and incorporated herein by this reference ("the Premises"), which real property is not
<br /> used principally for agricultural or farming purposes, together with all the tenements,
<br /> hereditaments, and appurtenances now or hereafter thereunto belonging or in any wise
<br /> appertaining, and the rents, issues and profits thereof (the "Property").
<br /> This Deed of Trust is for the purpose of securing performance of each agreement of Grantor
<br /> contained herein and in the City of Everett HOME Loan Agreement dated the day of
<br /> June 2006 ("HOME Agreement"), entered into between Beneficiary and Grantor, and payment
<br /> of the sum of Thirty Thousand Dollars ($30,000.00) with interest, in accordance with the terms
<br /> of a promissory note of even date herewith (the "Note"), payable to Beneficiary or order, made
<br /> by Agency and assigned to Grantor, and all renewals, modifications and extensions thereof,
<br /> and also such further sums as may be advanced or loaned by Beneficiary to Grantor, or any of
<br /> their successors or assigns, together with interest thereon at such rate as shall be agreed
<br /> upon.
<br /> To protect the security of this Deed of Trust, Grantor covenants and agrees:
<br /> 1. To keep the Premises in good condition and repair; not to remove or demolish any
<br /> building thereon; to complete or restore promptly and in good and workmanlike manner any
<br /> building that may be constructed, damaged, or destroyed, and to pay when due all claims for
<br /> labor performed and materials furnished therefor; to comply with all laws affecting the
<br /> Premises or requiring any alterations or improvements to be made; not to commit or permit
<br /> waste thereof; not to commit, suffer, or permit any act upon the Premises in violation of law;
<br /> and to do all other acts which from the character or use of the Premises may be reasonably
<br /> necessary to preserve and conserve its value.
<br /> 2. To pay before delinquent all taxes, assessments and any other charges affecting
<br /> the Property when due; and to keep the Property free and clear of all other encumbrances,
<br /> C-3 8 3
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