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EXHIBIT D
<br /> Form of
<br /> DEED OF TRUST
<br /> THIS DEED OF TRUST ("DEED OF TRUST"), made this day of , 2018, by
<br /> and among COCOON HOUSE, a Washington non-profit corporation, ("GRANTOR"), ("Agency"),
<br /> whose address is 2929 Pine St., Everett, WA 98203, First American Title Insurance Company, a
<br /> Nebraska corporation, ("Trustee"), whose address is 2707 Colby Ave, Suite 601, Everett, WA
<br /> 98201, and the City of Everett, a municipal corporation of the State of Washington, ("GRANTEE"
<br /> or"BENEFICIARY"), whose address is 2930 Wetmore Avenue, Suite 8A, 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 Attachment 1 attached
<br /> hereto and incorporated herein by this reference ("the Premises"), which real property is not used
<br /> principally for agricultural or farming purposes, together with all the tenements, hereditaments,
<br /> and appurtenances now or hereafter thereunto belonging or in any wise appertaining, and the
<br /> 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 Loan Agreement between the Grantor and the Beneficiary(hereinafter
<br /> the "Loan Agreement") dated the day of , 2018, and payment of the sum of
<br /> Three Hundred Thousand Dollars ($300,000), in accordance with the terms of a Promissory Note
<br /> of even date herewith (the "Note"), payable to Beneficiary or order, made by Cocoon House, and
<br /> also such further sums as may be advanced or loaned by Beneficiary to Grantor, or any of their
<br /> successors or assigns, together with interest thereon at such rate as shall be agreed 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 labor
<br /> performed and materials furnished therefor; to comply with all laws affecting the Premises or
<br /> requiring any alterations or improvements to be made; not to commit or permit waste thereof; not
<br /> to commit, suffer, or permit any act upon the Premises in violation of law; and to do all other acts
<br /> which from the character or use of the Premises may be reasonably necessary to preserve and
<br /> conserve its value.
<br /> 2. To pay before delinquent all taxes, assessments and any other charges affecting the
<br /> Property when due; and to keep the Property free and clear of all other encumbrances, charges,
<br /> and liens impairing the security of this Deed of Trust, subject to the Grantor's right to contest such
<br /> taxes, assessments and other charges in good faith.
<br /> 3. To keep all buildings now or hereafter erected on the Property described herein
<br /> continuously insured against loss by fire or other hazards in an amount not less than the total debt
<br /> secured by this Deed of Trust. The Beneficiary shall be an additional insured under all such
<br /> insurance policies, which shall be issued by such companies as the Beneficiary may approve and
<br /> have loss payable first to the Beneficiary, as its interest may appear, and then to the Grantor.
<br /> Except as otherwise set forth in the Loan Agreement, the Priority Agreement (as that term is
<br /> defined in the Loan Agreement) or the Note, the amount collected under any insurance policy
<br /> Exhibit D
<br /> Cocoon House
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