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14 <br /> EXHIBIT C <br /> Form of Leasehold Deed of Trust <br /> THIS DEED OF TRUST, made as of , among <br /> GRANTOR, whose address is <br /> ; and , TRUSTEE, whose <br /> address is ; and City of Everett, a municipal corporation, <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, its leasehold interest in the real property in City of Everett, Washington described below: <br /> Commonly Known As: <br /> which real property together with the improvements now or hereafter constructed thereon is not <br /> used principally for agricultural orfarming 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 herein <br /> contained, and in the City of Everett Loan Agreement between Grantor and the Beneficiary <br /> (hereinafter the "Agreement") dated as of , and payment of <br /> in accordance with the terms of a promissory note of even date herewith (the <br /> "Note"), payable to Beneficiary or order, and all renewals, modifications and extensions thereof, <br /> and also such further sums as may be advanced or loaned by Beneficiary to Grantor, or its <br /> successors or assigns, together with interest thereon at such rate as shall be agreed upon. To <br /> protect the security of this Deed of Trust, Grantor covenants and agrees: <br /> 1. To keep the Property in good condition and repair;to commit or to permit no waste thereof; <br /> to complete any building, structure or improvement being built or about to be built thereon; <br /> to restore promptly any building, structure or improvement thereon which may be <br /> damaged or destroyed; to pay when due all claims for labor performed and materials <br /> furnished; and to comply with all laws, ordinances, regulations, covenants, conditions and <br /> restrictions affecting the Property. <br /> 2. To pay before delinquent all lawful taxes and assessments and any other charges upon <br /> or affecting the Property when due; and to keep the Property free and clear of all other <br /> charges, liens or encumbrances impairing the security of this Deed of Trust. <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 <br /> total debt secured by this Deed of Trust. <br /> 4. To defend any action or proceeding purporting to affect the security hereof or the rights or <br /> powers of Beneficiary or Trustee, and to pay all costs and expenses, including cost of title <br /> search and attorneys'fees in a reasonable amount, in any such action or proceeding, and <br /> in any suit brought by Beneficiary to foreclose this Deed of Trust. <br /> C-1 <br /> 95 <br />