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Kimberly Clark Worldwide Inc 12/28/2005
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Kimberly Clark Worldwide Inc 12/28/2005
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Last modified
10/25/2018 9:52:24 AM
Creation date
10/25/2018 9:52:00 AM
Metadata
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Template:
Contracts
Contractor's Name
Kimberly Clark Worldwide Inc
Approval Date
12/28/2005
Department
Facilities
Department Project Manager
Mike Palacios
Subject / Project Title
K C Riverpoint Site
Tracking Number
0001447
Total Compensation
$0.00
Contract Type
Real Property
Retention Period
10 Years Then Transfer to State Archivist
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2. Use: Grantor and Beneficiary acknowledge that the Property is not used principally for agricultural or farming <br /> purposes. <br /> 3. Indebtedness: The term"Indebtedness"as used in this Deed of Trust shall mean all principal and interest payable <br /> under the Promissory Note of even date herewith,in the sum of SEVEN MILLION EIGHT HUNDRED NINETY-TWO <br /> THOUSAND DOLLARS ($7,892,000.00) payable to Beneficiary or order, and made by Grantor, and all renewals, <br /> modifications and extensions thereof,(the"Promissory Note")and any amounts expended or advanced by Beneficiary to <br /> discharge obligations of Grantor or expenses incurred by Beneficiary or Trustee to enforce obligations of Grantor hereunder, <br /> as permitted under this Deed of Trust,together with interest thereon as provided in the Promissory Note. This Deed of Trust <br /> is given to secure payment of the Indebtedness and the performance of all obligations of Grantor under this Deed of Trust <br /> and is given and accepted on the terms and conditions specified in the Promissory Note and in this Deed of Trust. <br /> 4. Possession and Maintenance of the Property: <br /> 4.1 Possession: Unless and until default,Grantor may remain in possession and control of and operate and <br /> manage the Property and collect the Income from the Property. <br /> 4.2 Duty to Maintain: Grantor shall maintain the Property in condition appropriate to its use and promptly <br /> perform all repairs and maintenance necessary to preserve its value. <br /> 4.3 Nuisance,Waste: Grantor shall neither conduct or permit any nuisance nor commit or suffer any strip or <br /> waste on or to the Property or any portion thereof including,without limitation,removal or alienation by Grantor of the right <br /> to remove any timber,minerals(including oil and gas),or gravel or rock products. <br /> 4.4 Compliance with Governmental Requirements: Grantor shall promptly comply with all laws, <br /> ordinances and regulations of all governmental authorities applicable to the use or occupancy of the Property. Grantor may <br /> contest in good faith any such law, ordinance or regulation and withhold compliance during any proceeding, including <br /> appropriate appeals,so long as Grantor has notified Beneficiary in writing prior to doing so and Beneficiary's interest in the <br /> Property is not jeopardized. Beneficiary may require Grantor to post adequate security (reasonably satisfactory to <br /> Beneficiary)to protect Beneficiary's interest. Grantor shall not seek,agree to or make change in the use of the Property or its <br /> zoning classification,unless Beneficiary has agreed in writing to the change. Grantor shall comply with all laws,ordinances, <br /> regulations and requirements of any governmental body applicable to the Property. <br /> 4.5 Duty to Protect: Grantor shall do all other acts,in addition to those set forth in this section,that from the <br /> character and use of the Property are reasonably necessary to protect and preserve the security. <br /> 5. Beneficiary's Right to Enter: Beneficiary and its agents and representatives may enter upon the Property at all <br /> reasonable times to attend to Beneficiary's interest and to inspect the Property. <br /> 6. Protection of Beneficiary's Rights in the Property: If Grantor fails to perform the covenants and agreements <br /> contained in this Deed of Trust,or there is a legal proceeding that may significantly affect Beneficiary's rights in the Property <br /> (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then <br /> Beneficiary may do and pay for whatever is necessary to protect the value of the Property and Beneficiary's rights in the <br /> Property. Beneficiary's actions may include paying any sums secured by a lien which has priority over this Deed of Trust, <br /> appearing in court,paying reasonable attorneys'fees and entering on the Property to make repairs. Although Beneficiary <br /> may take action under this paragraph,Beneficiary does not have to do so. Any amounts disbursed by Beneficiary under this <br /> paragraph shall become additional debt of Grantor secured by this Deed of Trust. Unless Grantor and Beneficiary agree in <br /> writing to other terms of payment,these amounts shall bear interest from the date of disbursement at the Note rate and shall <br /> be payable,with interest,upon notice from Beneficiary to Grantor requesting payment. <br /> 7. Due on Sale: Upon the sale or transfer of all or any part of the Property without the Beneficiary's prior written <br /> consent Beneficiary may,at its option:(i)declare immediately due and payable all sums secured by this Deed of Trust,if <br /> Beneficiary reasonably believes itself to be insecure;or(ii)increase the interest rate in the Promissory Note to an amount <br /> Page 2 <br />
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