Hopeworks Social Enterprises 5/1/2018

EXHIBIT C Form of Leasehold Deed of Trust THIS LEASEHOLD DEED OF TRUST, made as of , among GRANTOR, whose address is ; and , TRUSTEE, whose address is ; and City of Everett, a municipal corporation, BENEFICIARY, whose address is 2930 Wetmore Avenue, Suite 8B, Everett, WA 98201. WITNESSETH: Grantor hereby bargains, sells and conveys to Trustee in Trust, with power of sale, its leasehold interest created by the Lease by and between Hopeworks Station Enterprises as Lessor and Owner as Lessee in the real property in City of Everett, Washington described below: Commonly Known As: which real property together with the improvements now or hereafter constructed thereon is not used principally for agricultural or farming purposes, together with all the tenements, hereditaments, and appurtenances now or hereafter thereunto belonging or in any wise appertaining, and the rents, issues and profits thereof (the "Property"). This deed of trust is for the purpose of securing performance of each agreement of Grantor herein contained, and in the City of Everett Loan Agreement between Grantor and the Beneficiary (hereinafter the "Agreement") dated as of , and payment of in accordance with the terms of a promissory note of even date herewith (the "Note"), payable to Beneficiary or order, and all renewals, modifications and extensions thereof, and also such further sums as may be advanced or loaned by Beneficiary to Grantor, or its successors or assigns, together with interest thereon at such rate as shall be agreed upon. To protect the security of this Deed of Trust, Grantor covenants and agrees: 1. To keep the Property in good condition and repair; to commit or to permit no waste thereof; to complete any building, structure or improvement being built or about to be built thereon; to restore promptly any building, structure or improvement thereon which may be damaged or destroyed; to pay when due all claims for labor performed and materials furnished; and to comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property. 2. To pay before delinquent all lawful taxes and assessments and any other charges upon or affecting the Property when due; and to keep the Property free and clear of all other charges, liens or encumbrances impairing the security of this Deed of Trust. 3. To keep all buildings now or hereafter erected on the Property described herein continuously insured against loss by fire or other hazards in an amount not less than the total debt secured by this Deed of Trust. C-1