HomeMy WebLinkAboutLeasehold Deeed of TrustRECORDATION REQUESTED BY:
10AH0 INDEPENDENT BANK
MERIDIAN OFFIGE
1t3 EAST IDAHO AVENUE
MERIDIAN, ID 83642
~N RECDRDED MAIL TO:
tDAHOINDEPENDENT BANK
MERIDIAN OFFICE
i13 EAST IDAHO AVENUE
MERIDIAN, ID 83642
SEND TAX NOTiGES T0:
LAKEVIEW MERIDIAN INVESTORS, LLC
RA. DAVf8 PROPERTIES, INC.
4200 W. TALAMDAE BLVD.
MERIDIAN. ID 83642 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
LEASEHOLD
oEE>a of rRUSr
MAXIMUM LIEN. The lien of this Deed of Trust shall not exceed at any one time 5649,759.84.
THIS DEED OF TRUST is dattad May 17, 2006, among LAKEVI1w1N MERIDIAN INVESTORS, LLC AND R.R. DAVIS
PROPERTIES, INC., whose address Is 4200 W. TALAMORE BLVD., MERIDIAN, ID 83642 {"Grantor"1; IDAHO
INDEPENDENT SANK, whose address Is MERIDIAN OFFICE, 113 EAST IDAHO AVENUE. MERIDIAN, ID 83642
{referred to be[ow sometimes as "Lender" and sometimes as "Beneficiary"1; and PIONEER TITLE COMPANY OF
ADA COUNTY, whose address is 8151 W. RIFLEMAN AVENUE, BOISE, ID 83704 (referred to below as
"Trustee"1.
CONVEYANCE AND GRANT. Far vahrabla conslderaUon, Grantor does hereby Ircsvoeably grant, bargain, saR and eamrey In trust, with power of
sale, to Trustee for the lrenellt oT Lertdar as aeneTrolary, all of Grantor's ri~tt, t}Ue, and Interest ln, to and under the Lease described below of
the following described real property, together with all existing or subsequently erected or affixed twgdings, improvements and fEMUres; alt
easements, rights of way, and appurtenances; all water, water rights and ditch rights (krefuding stock In utAlUes with ditch or irrigation rights);
and all other rights, royalties, and profits relating to the real property, including without limitation any nghts Grantor late acquires in the fee
simple title to the tend, subject to the Lease, and all meterals, ell, gas, geothermal and skrular matters, (the "Real Property") located in
ADA County, State of Idaho:
See EXHIBIT "A', which is attached to the Deed of Trust anti Rtade a paR of this Decd of Trust as If fu11y sat
forth herein.
' THIS bEED OF TRUST INCLUDES ALL OF THE LESSEE'S INTEREST !N THAT PROPERTY DESCRIBED ABOVE
UNDER THE LEASE AGREEMENT ORIGINALLY DATED MAY 17, 2005 BETWEEN THE CITY OF MERIDIAN AS
~ESSOR AND LAKEVIEW MERIDIAN INVESTORS. LLC AND R.R. DAVIS PROPERTIES, INC. AS LESSEES.
Real Property or its address Is commonly known as 4200 W. TALAMORE BLVD., MERIDIAN, ID 83642.
CROSS-COLLATERALIZATION. In addition to the Nota, this Dsed of Trust aeaures all ot~igatlona, dsbte and 1leblliUes, plus interest thereon, of
Grantor to Lender, or any one or moro of them, as well as al[ claims by Lends aga"atst Grantor or any one or more of them, whether now
existing or hereafter erlaing, whether related or unrelated to the purpose of the Noto, whether voWntary or atherwlee, whether due err not due,
direct or tndieot, determined a undetercnined, absolute a contingent, liquidated or unliquidated, whether Grantor may be Ilsble Individval[y or
jointly with others, whether obfipated as guarantor, surety, accommodation party or othawiee, and whether recovery upon such amounts may
be err hereafter may become barred by any statute of limitations, and whether the obligation to repay such amounts msy be or hereafter may
become otherwise unenforceable.
Grantor presently assigns to Lender (also known as 8ensficlary in this Dead of TrusU erg of Grantor's right, title, and Interest In and to all present
and future leases of the Property acrd elf Rants from the property. In addition, Grantor grants to Lender a Uniform Commerclel Code security
vttereat N the Personal Property and Rents.
THIB DEED OF TRUST, INCLUDING THE ASSIGNMENT OP RENTS AND THE SECVRlTY INTEREST IN THE RENTS AND PERSONAL PROPERTY,
IS GIVEN TO SECURE {A) PAYMENT OF THE INDEBTEDNE88 AND (e) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE,
TtIE RELATED DOCUMENTS, AND THIS DEED OP TRUST. TFgS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS:
PAYMENT ANb PERFORMANCE. Except as otherwise provided In Urla Deed of Trust, Grantor shall pay to Lands all amounts secured by this
Deed of Trust ere they become due, and shall strictly and in a timely manner perform all of Grantor's obllgatlons under the Note, this Deed of
Trust, and the Related Documents.
POSSESSION ANO MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shag ba governed by
the following provisions:
Possession and Uae. UntB the occurrence of en Evans of Default, Grentor may (t) remain in possaasion and control of the Property; (2)
use, operate or menage rho Property; and (3) eoBect the Rents from the Property. The fallowin0 Provisions relate to the use of the
Property or to other ]imitations on the property. THE REAL PROP,EATY EITHER 1S NOT MORE THAN FORTY [40) ACRES IN AREA OR I5
LOCATED WITHIN AN INCORPORATED CITY OR VILLAGE.
Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and
maintenance necessary to preserve its value.
Compliance With Envirorurisntai Laws. Grantor represents and warrants to Lander that: {11 During the period of Grantor's leasehold
Interest in the Property, Utere Etas been no use, penaation, manufacture, storage, treatment, disposal, release err threatened release of any
Hazardous Substance by any person on, tinder, about a from the Property; (2) Grantor has no knowledge of, err reason to beEleve that
there has been, eurcept as previously disclosed to and eckrtowledged by Lender in wrlttng, Ia) any breach or violation of any Envlronmerttel
Laws, (b} any use, generation, manufacture, storage, Veatrttent, deposal, release or threatened release of any Hazardous Substance on,
trder, afoeut or from.tha Property by any prior owners a occupants of the Property, or {c) any actual or threatened litigation or claims of
any kktd by any person relating to such mattes; and (31 Except as previously disclosed to end acknowledged by Lender in writing, (a)
neidter Grantor nor any tenant, contractor, spent err other authorized user of the Property shall use, generate, manufacture, store, treat,
dispose of or release any Hazardous Substance an, under, about or from the Property; and (b) any such activity shall ba conducted rn
compllonce with all applicable federal, state, and local laws, reatlotlona and ordinances, including without limitation aR Envvenmental Lawe,
Grantor authorizes Lander and its agents to enter upon the Propariy to make such inapectlons and teats, at Grantor's expense, as Lander
may deem appropriate to determine compliance of the Property with this section of the Dead of Trust. Any inspections or tests made by
der shad be for Lender's purposes only and shelf not be aenstruod tc create any responsibility or Eiabdity on Use part of Lender to Grantor
to any aUter person. The representations and warcantles contained herein are based on Grantor's due diligence in invesUgatinp the
operty for Hazardous Substances. Grantor hereby (t) releases and waives any future dakns against Lender for btdemnity or
contribution In the event Grantor becomes liable for cleanup or other casts rtnda any such laws; and (2) agrees to indemnify and hold
harmless Lender aga'srat any sad di elalrna, losses, liabgities, damages, penalties, and expenses which Lander may directly or Indirectly
sLetain or suffer resulting from a breach of ihls'sectlon of the Deed of Trust or as a cansequehce of any use, generation, manufacture,
storage, disposal, release or threatened release occurring prig to Grantor's ownashp or interest in the property, whether err not the same
was or should have been known to Grantor. The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall
survwe the payment of the Indebtedness end the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected
EBSIBIT "A"
DEED OF TRUST
Loan No: 559fl258 (Continuf3dl
Page 2
by Lender's acryrlsition of any interest In the Property, whether by foreolosura or otherwise.
Nulaance, Waste. Grantor shalt not cause, conduct w permit any nuisance nor commit, permit, yr suffer any stripping of or waste on or to
the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, ar grant to any other
party the right to remove, any timber, minerals (Including oil end gesF, coat, clay, scoria, soil, gravel or rook products without Lender's prior
written consent.
Removal of improvements. Grantor shall not demolish w remove any improvements tram the Real Property without Lender's prior written
consent. As a eonditlon m the removal of any Improvamenta, Lender may requite Grantor to make arrangements satisfactory to Lender to
replace such Improvements with Improvements of et least equal value.
Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Aeal Property et all reasonable times to attend
to Lender's Interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Deed of
Trust.
Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter
in effect, of all governmental authorities appliea6le m the use or occupancy of the Property, Including without limitation, the Amerleans
With Disabilitros Act. Grantor may eantest in good faith any such law, ordinance, w regulation and withhold compliance during any
proceeding, btclud~g appropriate appeals, so long as Grantor has notified Lender in writotg prior to doing so and so long as, in Lender's
sole opinion, Lender's "attereats in the Property are not jeopardrzed. Lender may require Grantor to post adequate security or a surety bond,
reasonably satisfactory to Lander, to protect Lender's interest.
Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do eU other sets, m addition to those
ants set forth above in this secdon, which from the character and use of the Property are reasonably necessary to protect and preserve the
Property.
Complance with Lease. Gr~ttw will pay all rents and will shindy observe and perform an a timely basis alt other terms, covenants, and
conditions of the Leese. Grantor will krdemnify and hold Lender harmless against all losses, liabilities, actions, suits, proceedings, coats
including reasonable attomeya' foes clasna, demands, and damages whatsoever which may be incurred by reason of Grantor's Felura to
psy rents or strictly olxserve w perform under the Lease.
Other Agreements Reladng to the Lease. Grantor fwther agrees {i) not to surrender, terminate, or cancel the Lease, card (21 not to
modify, change, euppfement, attar, w amend Ihs Lease, either orally or In writing, without Lender's prior written wnsent. Any attempt by
Grantor to do any of the foregoing without Lender's prior written consent will be void and of no force and affect. At Lender's aptlon,
Granmr wih deposit with Lender as further security all orfgcral doeumants relating to the Lease and the leasehold Interest'st the Propwty.
Unless Grantor la In breach or default of any of the terms contained in this Deed of Trust, Lrnder will have no right to eanoel, modify,
change, supplement, alter ar amend the leasehold interest. No estate in iha Property, whether fee tiga to the leasehold premises, the
leasehold estate, or any subleasehold estate, wip merge without Lender express written oansenh rather these estates wlI renwin separate
and distinct, even if there is a union of these estates in the landlord, Granmr, or a third party who purchases or otherwise acquires the
estates. Grantor (urther agrees that if Grantor acquhes all or a portion of the lea a(mpie title, or any other leasehold or subleaseltdd title to
the Property, that title will, st Lender's option, ktrmedlately become subject to the terms of this Deed of Trust, and Grantor will execute,
deliver and record all documents necessary or appropriate to assure that such Gtle is secured by this Deed of Trust.
Notices Ralatbtg m the Lassa. Grantor wig promptly notify Lender in writing:
(1) if Granmr is In default in the performance or observance of any of the terms, covenants, or conditions which Grantor Is to perform
or observe under the Lease;
(~ It any event occurs which would oonatitute a default under the Lease;
(3) if any notice of default is given to Grantor by the landlord under the Lease;
(41 if, pursuant to the Lease, any proceeds received for the Property are deposited with someone other than Lender, whether received
from arty ktaurance on the Property or from the taking of arty ar al! of the Property by eminent domain; and
(5) iF any arfirtratlon w appraisal procaedings are requested or instituted pursuant to the Lease.
Grantor agrees to provide Lender promptly with a copy of og written materials relating to any of [he shove and to provide Lender with such
other information as Lender may reasonably request. Grantor agrees that promptly after the exacudon and delivery of this Deed of Trust,
Grantor w8 notify the lend[ord under the Leese rti writbrq of the execution and delivery of this Deed of Trust and of the name and address
of Lender and wBl deliver a copy of this Deed of Trust to the landlord,
Option to Cure Laaca Default. Upon Lender's receipt of any written notice of Grantor's default under the Lease, Lander may, at Lender's
option, Dore such defatdt, even though Grantor, or any party on behalf of Grantor, questions w denies the existence of such default or the
nat+rre of the default. Grantor expressly grants m Lsndar the absolute and immediate right to enter upon the Property to such extent and as I
often as Lender in it sale discretion deems necessary or desirable in order to prevent or curs any s~uch~depf~aul~t~jb~y~Gr~apnter.
DUE ON SALE -CONSENT BY LENDER. Lender may, et Lender's option, declare immediately due aAit oava~-fe a alt-ums-soLCure~s des o
Trust upon the safe w transfer,.without Lender's prior written cenaent, of all or any part of the Real Property, or any Interest in the Aeal
Property. A "sale or transfer' nwans the conveyance of Real Property or any right, ripe or interest in the Real Property; whether lapel, beneficial
or equitable; whether voluntary or Involuntary; whether by outright sale, deed, installment sale cantraet, land oontraM, coretraci for dead,
leasehold interest with a term greater than Ehree (3) years, lease-option contract, or by sofa, assignment, or vansfar of any beneficial intareat In
or to any land trust holding title tc the Real Property, or by any other method of conveyance of an intareat In the Real Property, If any Grantor Is
a corporation, partnership w limited fiabdhy company, transfer also includes any change In ownership of more than twenty-five percent (2696) of
iha voting stock, partnership intareats or Ilmked liability canparry atterests, as the case may be, pf such Grantor. However, this aptwn ah~l not
be exercised by Lender if such exercise is prohibited by federal law or by Idaho law.
TAxES AND LIENS. The following provisions relating to the taxes end liens on the property era port of this Deed of Trust:
Payment. Grantor shall pay when due (and in all events prior m delinquency) all taxes, special faxes, assessments, charges (induding
water and sewer), fines and Impositions levied apainat w on aceounf of the Property, and abet! pay when due aH claims For work done on or
far servfeea rendered or material furnished to the Property. Granmr shall maintain the property free of all liens having priority over or aqua!
to the rtereat of Lender under this Deed of Trust, axaept for the lien of taxes and assessments not due end except as otherwise provided
in this Deed of Trust.
l'tlglri to Contest. Grantor may wkhhold payment of any tax, assessment, or claim in connection with a good faith dispute over the
ofrllgation to pay, so tong as Lender's interest in the property is not {eopardixad. If a lien arises or Is filed as a result of nonpayment,
Grantor shall within Rfteen It6) days after rho Ilan arises or, rf a lien is filed, within fikeen (t s) days after Grantor has notice of the filing,
secure the discharge of the lien, or if requested by Lander, deposit with Lender cash or a sufficient corporate surety bond or ether security
satisfaotary m Lender in an amount sufFcient m discharge the lion plus any coats and reasonable attorneys' foes, or other charges that
could accrue as a result of a foreclosure or sale under the Ian. In arty aonteaG Grantor shall defrnd itself and Lender and shall satisfy any
adverse judgment before enfareement against the Property. Grantor shag name Lender as an additional obligee under any surety bond
furnished in the contest proceedings.
Etddenee o} Paymertt. Grantor shag upon demand famish to Lender saNsfattory evidence of payment of the taxes or assessments and shall
authorize the appropriam governmental official to deliver to lender at any time a written statement aF the taxes and assessments egeinet
the Property.
Notiea of Construction. Grantor shall notdy Lander at least fifteen (13) days before any work is commenced, any services are furnished, or
• any materlefe are supplied to the Property, 'd any mechanic's lien, materialmsn'e Fien, or other lien could Ue asserted on aeaount of the
work, services, or materials. Grantor w~ upon request oT Lender furnish to Lander advance assurances satisfactory to Lander that Grantor
can and wih pay the cast of such improvattents.
PROPERTY DAMAGE INSURANCE. The }ogowing provisions relating to insuring the Property are a part of this Dead o[ Trust.
Malmenana of Inewsnee. Grantor shall procure and maintain policies of Eire insurance wah standard extended coverage endorsements an
a repluement basis for the full insurable value covering elf improvements on the Real Property In an amount sufficient to avoid applkation
of any coinsurance clause, and w1N a standard ntartgagae clause in favor of Lender. Grantor shall also procure and maintain
comprehenslva general liability inwrance In such eovaaga amounts as Lender may request with Trustee and Lender being Wanted as
additional insureds in such Ilabdky 6tauranee policies. Additionally, G*antar shag maintain such other insurance, including but not limited m
DEEf3 OF i'RUST
Loan No: 5590258 {COFltlfluefJi) Pag® 3
hazard; buafsresa interruption, and bailer insurance, as Lender may reasonably require. Pollciea shat be written in form, amounts, coverages
and basis raasoneMy acceptable to Lender and issued by a company ar companies reasonably acceptable to Lender. Grantor, upon request
of Lander, will deliver [o Lander from time to time the policies or certificates of insurance in Form satisfactory to Lander, inoludmg
stipulations that oovaages wtl not be oanoellad or diminished without at least ten (10} days prior wrtten notice to Larrder. Each Insurance
policy also shall include an endorsement providing that coverage in favor of Lender wYl not 6e Impaired in any way by any act, omission ar
default of Grantor or any other person. Should the Real Property 6e Ieaated in an area designated by the Director of the Federal Emergency
Management Agency as a spacial [food hazard Brea, Grantor agrees to obtain and maintain Federal Flood Insurance, if available, within 45
days after notice Is given by Lender that the Property is located In a spacial flood hazard area, for the full unpaid principal balance of the
loan and any prior liens on the proparty securing the loan, up to the maximum policy I'uniis set under the National Flood Insurance Program,
or as otherwise required by Lender, and to maintain such insurance for the farm of the loan.
Application of Proceeds. Grantor shall promptly notify Lender of any loss ar damage to the Property. Lender may make proof of loss if
Grantor fails to do so wlthln fifteen {15) days of the casualty. Whether ar not tender's security is impaired, Lander may, at Lender's
election, receive and retain the proceeds of any insurance and aPP1Y the proceeds io the reduction of the Indebtedness, payment of any lien
affecting the Property, or Ste restoration and repair of the Property. It Lender elects to apply the proceeds to restoration and repair, Grantor
shall repair or replace the damaged ar destroyed. Improvements et a manner satisfactory to Lender. Lander shall, upon satisfactory proof of
such expenditure, pay ar relmbeuae Grantor from the proceeds far the reasonable cost of repair or restoration if Grantor is not in default
under thisDaed of Trust. Any proceeds which have not'been disbursed within 180 days altar their receipt and which Lender has not
committed to the repair or restoration of the Property shall 6e used first to pay any anwunt owing to Lender under this Dead of Trust, than
to pay accrued interest, and the remainder, if any, shell be applied to the princ~al balance of the Indebtedness. If Lander holds any
proceeds after payment In full of the Indebtedness, such proceeds shall 6e paid to Grantor as Grantor's interests may appear.
Grantor's Report en Insurance. Upon request of Lander, however not more then once a year, Grantor shall lumleh to Lender a report on
eadt oxlating policy of insurance showing: (1) the name of the insurer; (2) the risks inwred; (3) the emotmt of the policy; (4F the
property insured, the then current replacement value of such property, and the manner of determining that vekre; end (S) the expiration
date of the policy. Grantor shall, upon request of Lander, have an independent appraiser saWfactory to Lender detarmine the cash value
replacement cost of the Property.
LENDER'S EXPENDITURES. if any action or prooeeding is commenced that would materially affect Lender's interest in the Property or if Grantor
fails to comply with any provision of this Dead of Trust or any Related Documents, including but not limited to Grantor's failure to discharge or
pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust ar any Related booumente, Lender on Grantor's
behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to dmcharging or paying ag
taxes, liens, eectaity interests, anoumbranoes and other da'ens, at any time levied or placed on the Property and paying ag costs for insuring,
maintaining and preserving the Property. All such expendkures Ihaurred or paid by Lander for such purposes will then bear lntereat at the rate
charged under the Nate from the data incwred or paid by Lender to the date of repayment by Grantor, Ag eueh expenses will become a part of
the Indebtedness and, at Lender's option, wlll (A) be payable on demand; ISI be added Co the balance of the Nota and 6e apportioned among
and 6a payable with any Inatallmant payments to become due during either (1) the term of any applicable insurance policy; or (2) the
remaining term of the Nata; or (G) be treated as a balloon payment which win be due and payable at the Note's maturity. The Deed of Trust
also wilt secure payment of these amounts. Such right shall ba in addition to all other rights and remedies to which Lendar may ba entitled upon
Default.
WARRANTY; DEFENSE OF TITLE. The following provisions refatirp to ownership of the Property are s pert of this Deed of Trust:
Title. Grantor warcants that: Ia) Grantor holds good and marketable title of record to the leasehold Interest in the Property purwant to the
Lease, Free and clew of all liens end encumbrances other than those set forth in the Real Property deacriptlon br in enV title insurance
policy, title report, or final titre opinion iswsd In favor of, and accepted 6y, Larder In connection with this Deed of Trust, and {b) Grantor
has the full right, power, and authority to execute and deliver this Deed of Trust to tender.
Defense of Title. Subject Eo dte exception in the paragraph above, Grantor warrants and will faravar defend lira title to iha Property against
the lawful claims of all persona, In the event any action or proceeding Is commenced that questions Grantor's title ar eha interest of
Trustee or Lender undo this Dead of Trust, Grantor shall defatd the action at Grantar's expense, Grantor may be the nomeral party in
such prooeeding, but Lender shall 6e entitiad to participate in the prooeeding and to 6e represented >n the proceeding by caunael of
Lender's own ahoioe, and Grantar will deliver, ar cause to be dellvared, to Lender such instruments as Lender may request from limo to
lima to permit such participation.
Compgance With Laws. Grantar warrants that the Property and Grantor's uoe of the Property compllee with ell existing applicable laws,
ordinances, and regulations of governmental authorities.
Surviwl of Representations artd Wsrcentise. All representations, warranties, and agraementa made by Grantor in this Dsed of Trust shall
survive the execution and del€very of this Dead of Trust, shall 6e conteruerg in nature, and shall remain in full force and effect until such
time as Grantor's Indebtedness shall be paid in full.
CONDEMNATION. The following provisions relating to condemnation proceedings era a part of this Dead of Trust:
ProcesdUtgs. IF any prooeeding in condemnation Is filed, Grantor ahaU promptly notify Lender in writing, and Grantor shell promptly take
such steps as may be necessary to defend the action and obtain the award. Grantor may 6e the nominal party In ouch proceeding, but
Lender shall be entitled to participate 6t the prooeeding end to ba represented in the prooeeding by counsel of its own choice, and Grantor
w$I deliver or cause to ire delivered to Lender such Instruments and documentation ae may be requested by Lender from tens to time to
permit such participation.
Application of Nei Proceeds. if all ar any part of the Property is condemned by eminent domain proceedings or by any proceeding or
purchase in lieu of condemnation, Lendar may at Its election require that all ar any portion of the net proaseds of the award be applied to
tits Indebtedness or the repair or restoration of the Properly. Tha net proceeds of the award ahalF mean the award after payment of all
reasonable costs, expenses, and attorneys' leas Inarrred by Truetae or Lender in aonneetion with the condemnation.
IMPOSIT[CN OF TAXES, FEES AND CHARGES 8Y GOVERNMENTAL Al1THORITIES. The following provlalona relating to govemmentat taxes,
fees and charges era a part of this Deed of Trust:
Currant Texas, Feea and Charges. Upon request by Lender, Grantor shalt exearte such documeirts in addition to this Deed of Trust and
take whatever other action is requested by Lender to perfect and continua Lender's lien on the Real Property. Grantor shall reimburse
Lender far all taxes, ae described below, tagathar with all expenses incurred in regarding, perfecting ar continuing this Deed of Trust,
including without Ilmketlon all taxes, fees, documentary stamps, and other charges For recording or registering this Daed of Trust.
Taxes. Tare followirg shall constitute taxes to which this section applies: (1) a epaeifee tax upon this type of bead of Trust or upon all or
any part of the Indebtedness scoured by this Dead of Trust; I2F a apeciflo tax on Grantor which Grantor Is authorized or required to
deduct from payments on the Indebtedness sewrad 6y this type of Deed of Trust; (3) a lax on this type of Deed of Trust chargeable
against the Lender er the holder of Iha Nate; and (4) a specific Fax an all or any portion of the Indebtedness or on payments of principal
and interest made by Grantor.
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this bead of Trust, this event shall have
ihs same affect as an Event of Default, and Lender may exercise any or all of Ira available remedies for an Event of Default as provided
below unless Grantor either (11 peya the tax before It becomes delinquent, or {2) contests the tnx as provided above in the Taxes and
Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
SECURITY AGREEMENT; FINANC)NO STATEMENTS. The following provisions relating to this Deed of Trust es a security agreement are a part
of this Daed of Frust:
Security Agreement. This instrument shelf aonstituta a Security Agreement to the eMent any of the Property constitutes focturea, end
ender shall have all of the rights of a secured party under the Uniform Commercial Goda as amended from lima to time.
acurlty Interest. Upon request by Lender, Grantor shall take whatever action is requested by Lender to perfect end continua Lender's
secwity interest In tits Rents end Parsonel Property. In addition to recording this Deed of Trust in the reef property records, Lander rnay, at
any Yune and withotrt further authorization from Grantor, file executed counterparts, apples or reproductions of this Deed of Trutt as s
financing statemyrrt. Grantor shall reimburse Lender for all axpenaea incurced In perfecting or continuing this security Interact. Upon
default, Grantor shall not remove, saver or detach the Persona[ Property from the Property. Upon default, Grantor shall assemble any
Personal Property not affbted to the Property in a manner and at a place reasonably convenient ro Grantor and Lender and make k available
to Lender wlthln three 13) days after receipt of written demand from Lander to the extent permitted by appllceWe law.
DEED OF TRUST
Loan lYo: 5590258 (Continued}
Fags 4
Addresses, Tha ma8htg addresses of Grantor (debtor) and Lender (secured party) from whkh information eonaerning the security intetsst
granted by this Deed of Treat may 6e obtaeted (each as required by the Uniform Commercia) Code) are es elated on the first page of this
Deed of Trust.
FURTHEA ASSURANCES; ATTOANEYaN•FACT. The Following provisions relating to further assurances and attorney-in-fact ere a pert of this
peed of Trust:
Further Assurances, At any time, and from tine to limo, upon request of Lender, Grantor wyl make, execute and deliver, a will cause to
be made, executed ar delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, relied, or
rerecorded, es the ease may be, at such times and in surh offices and places as Lender may deem appropriate, any and all such mortgages,
deeds of treat, security deeds, aecurlty agreements, fnanoing statements, contlnuetion statements, instruments of further assurande,
certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect,
continue, or preserve (1) Grantor's obligations under the Nate, this Dead of Trust, and the Related Documents, and (2) tho liens and
security intvests created by this Deed of Trust as first end prior Bens on the Property, whether now owned or hereafter acgvired_,by
Grantor. Unless prohibited by law or Lander agrees to the contrary N writeig, Grantor shall reimburse Lender far all costs and expenses
incurred in connection with the matters referred to in this paragraph.
Attorneyin•Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so for and in the name of
Grantor and at Grantor's expanse. For such purposes, Grantor hereby ircevocabfy appolnta Lender as Grantor's attorney-in-fact for the
purpose of making, executing, delivering, filing, recording, and doing all other thi:igs as may be necessary or desaable, in Lender's sole
opinion, to accomplish the matters referred to in the preceding paragraph.
FULL PERFOAMANCE. If Grantor pays ell the Indebtedness when due, end otherwise performs all the abllgetlone unposed upon Grantor under
this Deed of Trust, Lander ahal! execute and dalh+ar to Trustee a request for full recanveyanea and shall execute and deliver to Grantor svita6le
statements of termination of any financing statement on file evidanoing Lmder's security interest in the Rents and the Personal Property. Any
raconvayanca fee required by law shell be paid by Grantor, if permitted by applicable law.
EVENTS OF DEFAULT. Each of the followng, at Lender's option, ahalE constkute an Event of Default under this bead of Trust:
Payment Default. Grantor Pais to make any payment when due under the indebtedness.
Other Defaults. Grantor faya to comply with or to perform any other term, ofiligatfon, covenant or condition contained in this peed of Trust
or in any of the Related Documents or to comply with or Eo perform any term, obligation, covenant or eonditfan contained in any other
agreement between Lender and Grantor.
Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Treat, the Note or in
any of the Related Documents.
Default on Other Payments. Failure of Grantor within the time retprlred by this Deed of Treat to make any payment for taxes or aiaurance,
or any other payment necessary to prevent fling of or to affect dleoherge of any lien.
Default in Favor o} Third Parties. Sheufd Grantor default under any loan, extension of credit, security agreement, purehesa ar solos
agreement, ar any other agreement, in favor of any other creditor ar person that may materially affect any of Grantor's property or
Grantor's ability to repay the Indebtedness or perform their respective obligations under this Daed of Trust or any of the Related
Documents.
False Statements. Any warranty, ropresantation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this
Deed of Trust or the Aeleted Documents fs false or mlaleading in any material respect, either now or at the time made or lurnlehad or
becomes false or mialeadutg at any time thereafter.
Defective Collaterelizatien. This Dssd of Trust or any of the Related Documents ceases to be in full force end effect (Including failure of
any oogateral document to create a valid and perfected security interest or lien) at any time and for any reason.
Insolvency. The dissolution or termination of Grantor's axietence as a going buaineae, the insolvency of Grantor, the appointment of a
recahrer for any pert of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the oemmencement
of any proceeding under any bankruptcy or insoWency laws by or against Grantor.
Creditor or Forfeiture Proceedings. Commencement of foreolo:ere w forfeiture proceedings, whether by judicial proceeding, self-help,
repossession ar any other method, by any creditor of Grantor or by any governmental agency against any property securing the
Indebtedness. This includes a garnishment of any of Grantor's aeeounts, including deposit accounts, with Lender. However, this Event of
Default shell not apply'd there is a good faith dapute by Grantor as to the validity ar reasonableness of the claim which is the beefs of the
creditor or forfeiture proaeed'mg and €f Grantor gives Lender written notice of the uedrtor or forfeiture proceeding and deposits with Lender
monies or a surety bond for the creditor or forfeiture proceeding, in an amount dateemined by Lender, in fts sole tliscratlon, as being an
adequaia reserve or bond For the dispute.
Laase Default Grantor defaults under the terms of the Lease, or any other avant (whether or not Grantor's (aultl resu)ts in the termination
ar cancellation of Grantor's leasehold rights.
Breach of Other Agreement. Any breach by Grantor under the terms of any other agreamant between Grantor and Lender that is not
remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other
obligation of Grantor to Lender, whether existing now or later.
Events Affecting Guarantor. Any of the preceding events oxurs with respect to any Guarantor of any of the Indebtedness or any
Guarantor dies or becomes incompetent, or revokes or diaputea the validity of, or liability under, any Guaranty of the Indebtedness. In the
event of a death, Lender, at its option, may, but shall not be required to, permit she Guarantor's estate to assume uncondtionally the
obllgatlona arising under the guaranty itt a manner satisfactory to Lender, and, in doing so, cure any Event of Default.
Adverse Change. A rrsatarial adverse change occurs in Grantor's financial condition, or Lender believes the praspeot of payment er
performance of the Indebtedness is impa'ved.
Insecurity. Lender in good faith believes itself Qiaecvra.
Right to Cure. If any default, other than a default in payment is curable and if Grantor has not bean given a notice of a breach of the same
provision of this Deed of Trust within the preceding twelve (t 2) months, it may be cured if Grantor, after receiving written notice from
Lender demanding curs of auah default: (i) curse the default within fifteen (1bJ days; or {~ if the cure requires more than fifteen (1 $)
days, immediately initiates steps which Lender deems fn Lender's sole disareticn to be auffieient to cure the default end thereafter
continues and eompletea all reasonable and necessary steps sufflelent to produce complienee as soon as reasonably practlcai,
RIGHTS AND REMEDEES ON DEFAULT. If an Event of Default occurs under this Dead of Trust, at any time thereafter, Trustee or Lender may
exraefae any one or more of the following rlghta end remedies:
Notice of Default. In the Event of Default Lender ahaU execute or cause the Trustee to execute a written notice of auah default and of
Lender's election to cause the Property to be sold to satisfy the Indebtedness, and shall cause such notice to be recorded in the office of
the records of each county wherein the Reel Property, or any part thrreof, fs aitueted.
Eleetlon of Aemedes. Election by Lander to pursue any remedy shall not exclude pursuit of any other remedy, and an eloctfon to make
expendrlu:es or to take action to perform an obligation of Grantor under this Deed of Trust, after Grantor's failure to perform, shall not
affect Lender's right to declare s default and exercise its remedies.
Aceelsrota Indebtedness. Lendsr shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately
due and payable, indvding any prepayment penalty which Grantor would be required to pay.
Foreclosure. With respect to all or any part of the Real Property, the Trustee ahe11 have the right to foreclose by notice and safe, and
Lender ahaU have the right to foreclose by ~udiclef foreclosure, in either ease In acoordanca with and to the full extent provided by
applicable law.
UCC Remedies. With respect to all or any part of the Personal Property, Lander shall have all Ne rights and remedies of a secured pity
under the Uniform Cammercia! Code.
Collect Renn. Lander shall have the right, vrithout noUcs to Grantor to take possession of and manage the Property end collect the Rents,
including amounts past due and unpaid, and appty the net proceeds, over end above Lender's casts, against the Indebtedness. in
furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rant or use fees directly to
DEED OF TRUST
Loan No: 5590258 (Continued] Page 5
Lender. If the Rsnta are cagacted by Lander, then Grantor irrevocably designates Lender as Grantor'a attorney-in-fact to endorse
instruments received in payment thereof In the name of Grantor and to negotiate Ehe same and collect the proceeds. Payments by tenants
or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments era made, whether or not any
proper grounds for the demand existed, Lender may exercise its rights under this subparagraph either in parson, by agent, or ehrough a
receiver.
Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any parE of the property, with the
power to protect and preserve the Property, to operate the Property praced8tg foreclosure or sale, and to collect the Rents from the
Property and apply the proceeds, ova and shove the oast of the reca'ivership, against the Indebtadnrsa. The receiver may serve without
bond if permitted by law. Lender's right to the appointment of a receiver shell exist whether or not the apparent value of the property
exceeds the Indebtednase by a substantial amount. Employment by Lender shelf not disqualify a person from carving as a receiver.
Tenancy at Sufferance. If Grantor remahs fn possession of the Property after the Property is sold as provided above or Lendar otherwise
baoomea entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lander or the
purchaser of the Property end aha11, at Lender's option, ehher (1) pay a reasanabe rental for [ha use of the Property, or (2) vacate the
Property immediately upon the demand of Lender.
Othar Ramedres. Trustee or Lender shell have any other right or remedy providod In thle Desd of Trust or the Note or by law.
Notice of Sala. Lander shag give Grantor reasonable noting of the time and plaoa of any public sale of the Persond Property or of the tens
after which any private Salo or other intended disposltlon of the Personal Property is to be made. Reaeonahla notice shall moan notice
given at least ten (t O) dsya before the tone of the Salo or disposition, Any sale of the Personal Property may be made in conjunction with
any sale of the Aeat Property.
Sale of the Property. To the extent permitted by applicable law, Grantor hereby wahres any and al[ rights to have the Property marshalled.
In exerclsing its rights and remedies, the Trustee or Lender shalt 6e free to aeU all or any part of the Property together or separately, in arts
sale or 6y separate safes, Lender shall be entitled to bid at any public sale on all or any portion of the Property. Notice of sale having 6eert
given as than required by taw, end not teas than the lima required by law having elapsed, Trustee, without demand on Grantor, shag sell
the property at Ehe time and place fixed by h h the notice of sale at public auction to the highest bidder for Dash in lawful money of the
United Stetea, payable at trine of sale. 7ruatee shall deliver to the purchaser his or her deed conveying the Property so sold, but without
any covenant or warranty express or implied, The recitals In wch deed of any matters or facts shall be conclusive proof of the truthfulness
of such matters or facts. After deducting all coats, fees and expenses of Trustee and of this Trust, including oust of evidence of title and
reasonable attorneys' fear, inctudlnp those In connection with the eels, Tnrstee shell apply proceeds of sale to payment of {a) al[ soma
expended under this Deed of Trust, not then repaid with inferast thereon as provided h tltls Daed of Trust; (b) all Indebtedness secured
hereby; and fc) the remahdar, iF any, to the person or peraone legally entitled thereto.
Attomsys Fesa; Expenses. If Lender Institutes any suit or action to enforce any of the terms of this Oeed of Trust, Lender shell he entitled
to recover such sum as the court may asQttdge rrasonebte as attorneys' foes at trial and upon any appeal. Whether or not any court action
Ia Involved, and to the extant not prohibited by law, all reasonable expanses Lender inoura that in tender's opinion are necoasary at any
time For the protection of its Qrterest or the enforcement of Ire rights shall become a part of the lndebtadneas payable an demand and shall
bear lntereat at the Nota rate from the dote of the expendture until repaid. Expenses covered by this paragraph include, without limitation,
however subject to any Iimhs under applicable law, Lender's reasonable attorneys' fees and Lender's legal axpenaea whether err not there Is
a lawsuit, Including reasonable ettameys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any
autometlc stay or injunction), appeals, and any anticipated post•judgment cogactlon sarvioes, the oust of searching records, obtaining title
reports (hcludmg forecloswe reports), aurveyore' reports, and appraisal fees, tithe hsvranea, and fees for the Trustee, to the extent
permitted by applicable law, Grantor also will pay any oaurt costa, In addition to ell other sums provided by law.
Rights of Trustee. Trustee shaft have all of the rights and duties of Lender as set forth in this section.
POWERS ANb OBLIGATiDNS OF 7RUBTEE. The following provisicna relating to the powers and obligations of Trustee are pert of this Deed of
t;
wore of Trustem. In addition to ell powers of Trustee arising as a matter of taw, Trustee shall have the power to take the following
actlona with respect to the Property upon the written request of Lender and Grantor: (a) join h preparing and filing a map or plat of the
Real Property, Including the dedication of streets or other rights to the public; (bj Jofn et grentctg any easement or creating any restriction
on the Real Property; and (cl join In any subordination or other agreement affecting this bead of Trust or the inferast of Lender under this
Deed of Trust.
Dbligations to Notify. 7ruatee shall not ba obligated to notify any other party of o pending sale under shy other trust dead or lien, or of any
action or proceeding in which Grantor, Lender, or Trustee shall be a party, unleaa the action or prceeading is brought by Trustee.
Trustee. Truatae shall mcet all quallflcetlona required for Trustee under applicable Eaw. In addltlon to the rights and remedlea set forth
above, with respect to all or any part of the Woperty, the Trusteo shag have the right to foreclose by notice and sale, and Lender shall have
the right to forecloaa by judicial foreclosure, in either ceae In acocrdanca with and to the full extent provided by applioaWe law,
Successor Truatae. Lender, at Lender's option, may from time to time appoint a sueaessor Trusteo to any Truatae appointed under tins
Deed of Trust by an Instrument executed and acknowledged by Lender and recorded in the office of the recorder of ADA County, State of
Idaho. 7ha instrument shall contain, h addition to all other matters required by state law, the names of the original Lender, TNSteO, and
Grantor, the book and page where this Daed of Trust is recorded, end the name and address of the aviceessor trustee, and the Instrument
shall be executed and acknowledged by Lander or ire successors h interest. The successor trustee, without conveyance of the Property,
shall succeed to alt the title, power, and duties conferred upon the Trustee in this Dead of Treat and by epplleebJe law. This procedure for
substitution of Trustee shell govarrr to the exclusion of all other provisions far substitution.
NOTICES. Any notice raqu'ved to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale
shall 6e given in writing, and shall be affective when actually dellvared, when actually received by telefacaimlle (unless otherwise required by
law), when deposited wish a nationally roaogniaed ovemi¢tt courier, or, if masted, when deposited in the Unitod States mail, as f'ust class,
certified or taglstered main postage prepay, directed to the addrosaos shown near the beginning of this Daed of Trust. All copies of notices of
foreclosure from the holder of any Ilan which has priority over this Dead of Trust shall be sent to Lender's address, as shovm near the begrnning
of this Deed of Trust. Any party may change its address for notfaes under this Deed of Trust lay giving formal written notice to the other
parties, specifying that the purpose of the notice is to change the party's address, Far notice purposes, Grantor agrees to keep Lendar informed
at elf times of Grantor's currant address. Unless otherwise providod err required by law, IF theta Is mare than one Grantor, any notice given 6y
Lander to shy Grantor is deemed to be nodca given to erg Grantors.
EXHIBIT 'A". An exhibit, tilled "EXHIBIT "A"," is attached to this Dead of Trust and by this reference is made a part of this Deed of Trust just
as if all the provisions, terms and conditions of the 6dti6it had been fully set forth in th[s Dead of Treat.
MISCELLANEOUS PROVISIONS. The fallowing miscellaneous provisions are a part of thla bead of Trust:
Amendmsrtts. This Dead of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties
as to the matters set forth in this Daed of Treat. No alteration of or amendment to this Deed of Trust shall 6e etfectnre unless given in
writing and afgned by the party or parties sought to be charged or bound by the alteration or amendment.
Annual Reports. !f the Property is used for purposes other than Grantor's residenoa, Grantor shall furnish to Lender, upon request, a
certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form end detail as
Lander shell require, "Nat operating Income" shall mean all sash receipts From the Property leas all cash expandhures made in connection
wish the operation of the Property.
Caption Headingr. Caption headings h this Dead of Trust are for convenience purposes only and are not to ba used to Interpret or define
e provlaions of this Deed of Trust,
~ergrr. Thera shall be no merger of the Interest or estate created by this Daed of Trust with any other Interest a estate in the Property at
y time hard by or for the benefit of lender in any capacity, whhout the written consent of Lendar.
Governing Law. This Deed of Trust wgl br governed by federal taw applicable to Lender and, to the rxtsnt not preempted by tedera[ law.
the laws of thr State of Idaho without regard to its conflicts of law provisions. This Daed of Trust has boon aooeptad 6y Lender in the
Stair of Idaho.
Cholcr of Venue, If there la a laweult, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of ADA County,
State of Idaho.
DEED OF TRUST
Loan No: 5690258 iCDntinuedl rage 6
Jobrt and Severe[ Liability. All obligations of Grantor under this Deed of Trust shall be Joint and several, and all references to Grantor shall
mean each and every Grantor. This means that each Grantor signing below is responsible for all abllgetiona in this Deed of Trust. Where
any one or more of the parties is a corporation, partnership, limited liability company or similar entity, it is not necessazy for Lender to
Inquire into the powers of any of the or[feers, directors, partners, members, or other agents acting or purporting to aM on the entity's
behalf, and any obligations made or created in reliance upon the professed exercise of such powers shall be guaranteed under this Deed of
Treat.
No Waiver by Lerrder. Lender shall not be deemed to have waived any rigtts undo this Deed of Trust unless suoh waiver ea given In writing
and signed by Lander. No delay or omisalon on the part of Lender in exercising any right shall operate as a waiver of suoh right or any
other right. A waver by Lander of a provlsion of this Deed of Trust shall not prejudice or constitute a waver of Lender's right otherwise, to
demand strut compliance with that provlsion or any other provision of this Deed of Trust. Na prior waiver by Lender, nor any course of
dealing between Lender and Grantor, shall oonstltute a waiver of any of Candor's rights or of any of Grantor's obligations as to any futures
transactions. Whenever the aonaent of Lander fs requ'sed under this Deed of Trust, the granting of such consent by Lander fn any instance
shall not constitute continuing oensent to subsequent instances where such consent is required and In all cases such consent may 6e
granted or withheld in the sofa drswetion of Lender.
Severabllity. If a court of competent jurisdiakion finds any provision of this Daed of Trust to 6e illegal, invalid, or unenforceable as to any
person or cbcumstanoe, that finding shall not make the offanding provlsion illegal, invalid, or unanfwceable as to any other parson or
circumstance. If feasible, the offending provision shalt 6e considered modified so that ii becomes legal, valid and enforceable. If the
offend'eng provlsion cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the
dlegality, invalidity, or unenforaeabifity of any provision of this Deed of Trust shell not affect the legality, veEldity or enforaea6gity of any
other provision of this Deed of Trust.
Suceessorc and Assigns. Subject to any Ilmltatfons stated in this Deed of Trust on transfer of Grantor's interest, this Deed of Treat shell be
binding upon and'aiure to the benefit of the parties, thew successors and assigns. If ownership of the Property becomes vested in a person
other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to Uris Deed of Trust and the
Indebtedness by way of forbearance w extension without releasing Grantor from the obligations of thle bead of Trust or liability under rho
fndebtednasa.
Time !e of the Eraence. Time is of the essence in the performance of thla Deed of Trust.
Waive Jury. All parties to this Dead of Trust hereby waive the right to any Jury iriaf in any action, proceeding, or counterclaim brought by
any party against any other party.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and benefits of the homestead exemption laws of the State
of Idaho as to all Indebtedness secured lry this Deed of Trust.
DERNITIONS, 'The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
speoifroally salted to the contrary, all references to dollar amounts shall moan amounts in lawful money of the United States of America. Words
end terms used In the singular shall include the plural, end the pEurel shall include the singular, as the context may requUe. Words and terms not
otherwise dafsrad in this peed of Trust shall have the meanings attributed to such terms In the Uniform Commarofal Cods:
Bensffclary. The word'Beneficiary" means IDAHO 1NOEPENDENT BANK, and its aucceasore and assigns.
Bevower, Tha word "Borrower" means LAKEVIEW MERIDIAN INVESTORS, LLC; and R.A. DAVIS PROPERTIES, INC. and includes all
eo-signers and cs-makers sign'atg tiro Note and all their successors and aeslgns.
Deed of Trust. Tha words "Dxd of Trust mean this Deed of Trust among Grantor, Lender, and Trustee, and includes without limitation all
assignment and security interest provisions relatirtp to the Personal Property and Rents.
Default The word "Default means the Default sat forth in this Deed of Treat in the section titled "Default".
Envlrontrrental Laws. Tha words "Environmental Lawa" mean any and alt state, feder~ and local statutes, regulations and ordinances
relating to the protection of human health or the environment, Including without limitation the Comprehensive Emrironmentel Reaponee,
Compensation, and Liability Act of 1880, as amended, 42 U.S.C. Section 9507, st seq. 1•CEACLA">, the Superfund Amendments end
Reavthorizatlon Aat of 1986, Pub. L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Aot, 49 U.S.C. Seatlon 1807, et seq„
the Resource Conservation, and_Rgcoveuy Aot,, 4Z U,S.C. Seatlon 6901, et seq., or other applicable state or federal laws, rules, or
regulations adopted pursuant thereto;
Event of Default. The words "Event of Default" mean any of the events of default set forth in thin Daod of Trust in the events of default
section of thla Deed of Trust.
Granter. The word "Grantor" means LAKEVIEIN MERIDIAN INVESTORS, LLC; end R.R. RAVES PROPERTIES, fNC..
Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness.
Guuanty. The word "Guazanty' means the guaranty From Guarantor to Landau, inofudng without limitation a guaranty of alt or part of the
Note.
Hazardous Substances, The words "Hazardous Substances" moan materials that, because of their quantky, concentration w physical,
chemical or Infectious aharacterlstles, may cause or peas a present or potential hazard to human health or the environment when
improperly used, treated, stored, disposed ef, generated, menufectwed, transported or otherwee handled. The words "Hazardous
Substances" are used In than vary broadest sense and aiclude without Ilmltation any and all hazardous or toxin substances, materials or
waste as dafined 6y or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum
end petroleum byproducts or any fraction thereof and asbestos.
Improvements. The word "Improvements" means all existing and future &nprovements, 6uildinga, structures, mobile homes affbced on the
Reel Prapazty, facilities, additions, replacements and other construction on the Real Property.
tnde6tadness. The word "Indebtedness" means all principal, intareat, and other amounts, coats ahd expenses payable under the Note or
Related Documents, together with all renewals of, extensions of, modifications of, aonaolidatfons of and substitutions for the Note or
Related Documents and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Truatae
or Lender to enforce Grantor's obllgetlone under this Daod of Trust, together with interest on such amounts as provided in this Deed of
Trust. Speoifioally, without limitation, Indebtedness ineludea erg amounts chat may be indirectly secured 6y the Crass-Coflat~alizatian
provlsion of this Deed of Treat.
Lasso. The ward "Lease" means the lease of the Property dated Mey 77, 2005, between CITY OF MERIDIAN, Landlord and Grantor.
Lender. The word "Lendee" means IDAHO INbEPENDENT BANK, its successors and assigns.
Nate. Tha word "Note" means the promissory note dated May 17, 2DDB, in the original pr)E1CfpB! amount Of $649,759.$4 from
Grantor to Lender, mgether with all renewals of, extensions of, modifications of, refinancings of, consa]Idetlone of, and suhstiiutiona for
the promissory note w agreement. NOTICE TO GRANTOR: THE NOTE CONTAINS A VARIABLE INTEREST AATE.
Personal Property. The words "Personal Property" mean alt equipment, factures, and other articles of personal property now or hereafter
owned by Grantor, and now or hereafter attached err affixed to the Real Fropwry; together wKlt all aooessiona, parts, and additions to, a6
replacements of, and all aubatitutions for, any of such property; and together with all proceeds fincluding without limtation all insurance
proceeds end refunds of premiums) hem any sale or other dleposltion of the Ihoperty.
Property. The word "Property" means collectively the Real Property and the Personal Property.
Real Property. The words "Real Property" mean the real property, interests and rights, as further deswlbed in this Dead of Trust.
• Asfated Documsntr, The words "Related Documents" moan all promissory notes, credit agreements, loan agreements, environmental
agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and ell othv instruments,
agreements and documents, whether now or hereafter existing, axaWted'si eonnectlon with the Indebtedness.
Reme. The ward 'Rants" means all present and future rents, revenues, Income, issues, royalties, profits, end other benefits der[ved from
the Property. '
Trurtee. The ward "Tnretee" means P10NEEA T1TLE COMPANY OF ADA COUNTY, whose address is 6157 W. RIFLEMAN AVENUE,
BOISE, ID 83704 and any substitute or suxassor trustees.
DEED OF TRUST
Loan No: 5590258 (G'Dntlnuedl Aagt: 7
EACH GRANTOR ACKNOWLEDGES HAVING READ ALL THE PAOVf510N5 OF THIS DEED OF TRUST, AND EACH GRANTOR AGREES TO ITS
ERMS.
RANTDR:
LAKEVIEW MERIDIAN INVESTORS, ilC
OARS LANkY, LLC, Member of LAKEVIEW MERIDIAN INVESTORS, LLC
WHITEROCK INV 37 T C, Mambsr of OARS LANEY, LLC
sy:
7. Man r of ROC
INV S E S, LLB'
LANEYLAND ., Member of OARS LANEY, LLC
$Y~
y, ~ artner of LANEYLAND
R.R. DAVIS PERTIES, INC., Mem f LAKEVIEW MERIDIAN INVESTORS, LLC
By:
RI R. AVIS, ra ant of R.R. DAVIS
PROPERTIES, INC.
RA. DAVIS OPERTiE3, I I .
~..
9y: ~'~
RI HARD R. DAVIS. Presl ant of R.R. DAVIS
PROPERTIES, INC.
LIMITED LIABILITY COMPANY A
KIMBERLY CLARKE
STATE OF ~ ~ Notary Public
1 ss ~~ pf Idaho
COUNTY OF 1
On Uric ~~~~ day of , In the year 20 ~, 6afore ma rn
8,1/ a notary pu rrIc hr end for the State of Idaho, pereonally appeared T. ERIK DAAS, onager of
WHITEROCK INVESTMENTS, LLC and STEVEN LANEY;i3aneral Partner of LANEYLAND L.P. and RICHARD R. DAVIS, Preaident of R.R. DAVIS
PROPERTIES, INC k or identified to me (or proved to me on the oath of 1, to be members or
designated a to I II ed IiaMlity company of LAKEVIEW MERIDIAN INVESTORS, LLC, and the members ar designated agents who
aubscrib Id II ' sd 1 It company name to the foregoing instrument, and acknowledged to me that they exeouted the same in esid limited
Eiabaity m y e ~~~ ~~~
Rssidbrg at S11
Notazy Public
My wmmicslon expbas
CORPORATE ACKNOWLEDGMENT
STATE OF LO~lf'D
I SS
COUNTY OF
On thle 3 l ~ day of /~ ~' y , In the year 20 ~, before me (~ t$~A't.f~ ~•
M n-ris wr , a notary public In and [or the State of Edaho, personally appeared RICHARD R. DAVIS, President of
R.R. DAVIS PROPERTIES, INC., known or identified to ma (or proved to me on the oath of S, to ba an
outhorized signer of A. DAVIS PROPERTIES, fNC., ie corporation that executed the instrument or the parson who exewted the instrument on
baba f s ' or a a such corporation exeouted the sam~,e~.,,//
/ ~ Residing at I"'' ~I~ f /~ i -'`}JtLC -.r1a IpN¢
bllc f r Idaho ! / tlt~ t~~Hyfr,
y commissien expires S- ~ q- ,~e~ -~.-~,~~Icr'ff`
+"LI~L~~
DEED OF TRUST '
Loan No: 5590256 {Continued) gage 8
REQUEST FOR FULL RECONVEYANCE
(To be used only wtfen obligations have been peld in fug}
To: ,Trustee
The undersigned is the legal owner and holder of aEl Indebtedness severed by this Dead of Trust. A11 sums secured by this Dead of Trust have
been fully peld end satisfied. You are hereby directed, upon payment to you of any awns owing to you under the terms of this Deed of Trust or
pursuant to any applleeble statute, to cancel the Note secured by this Deed of Trust (which is delivered to you together with this bead of Trust},
and to reconvey, without warranty, to the parties designated by Me terms of this Deed of Trust, the estate now held by you under this Deed of
Trust. Please mall the reeanveyance and Related Documents to:
bate= BeneTioiary:
ey:
lie;
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FJCHIBIT "A"
Thic EXH181T "A" ]s attuhed to and by this reteronee is made s pert of the peed of Trust, dabd May '17. 2006, and executed in connection
with a loan or other ilnaarefal aeeommodations between IDAHQ 1NpEPENDENT SANK and LAKEVIEIN MERIDIAN 1NVBSTORS, LLC; and R.A.
S PROPERTIES, INC.
PARCELi
A parcel of lead being a portion oP the Wrst-ha1~ $ecGon 3, Toumship 3 North, Range I Walt, Bohn Meridian, Meridian,
Adie Courtly, Idaho and [note particnlarty dtacr~ed as CoOows:
i3eginniog at a brass wp marking the Southeast cotnrr ofthe Nortbcast quarter of Section 3, Tovmship 3 Nord, Range l
West, 9olse Meridian, Meridian, Ada County, Idaho;
Thence slang the Southerly bamdary of said Northeast quarter of Section 3, North 88 degrees 55'39" West 2643.29 Fcet to
a bran cep marldog the Soudsvest corns of fhe Nmtbeast quarto,
Thence [caving said Southerly boundary North 75 degees 30'00" Wmt 190.00 fed to a 2" iron pipr,
. TbencnNorth 40 degrees OobO" West 40.OD fed to as ironpin;
Thence South 75 degrees 59'31" West 70.00 fat to an iron pin;
Thence Beetle 25 deegroes DD'OD" West 64.19 fat ro an Iron pin;
Thace North 89 degroei 23'06° West 254.51 fai to a point, aadd point also being rho real point of beginning;
Thettce amttatting Norb 69 degrees 25'06"East 100.01 feet ro a point;
Thence South 00 degrees 30'1 l" Wert 407.92 fct to a point;
Tlxnce South 68 degrees 54'i 1"Bast 276.46 fat to a paint marking a point of eurvc,
Thrace along a Curve to the right 59.44 fat, said curve llaviag a csaha[ angle of 34 degms 04'10", a radios of 100.00 feet,
tangents of 30.64 feet aced a Iaag chord of 56,59 feet bearing South Sl degree 52'06" Bast to a pohU marking a paint of
tangrnls;
Thence Soad 34 degrcess SOb l" Fast 292.99 feet to a paint;
Thence Soudt 89 degrtxs 48'41" Fast 147.34 feet to a point,
Thace North 35 degrees 00'00" West 109.03 feat to a point;
'thence North 5 [ degea 45'00" West 580.00 fat to a polo[;
Thence North 00 degrec 29'44" East 335.18 fed to thepoirrt of beginning.
PARCi;L fY
A'parcel of Iced lying in portions of the Sonde half of the North half aced theNarttt tall' of the South hat[ of Section 3,
Township 3 North, Range 1 Wet, Noise Maidtaa, Maldlan, Adze Coimly, Idaho sad [nom partlealarly drsa{bed as
follows:
$eglnttbrg al a point nrazking the Northwest corntx of the said North half of the South hat[ o[ Bettina 3;
Thaxx 5ond 89 degees ZS'OB' Bast 2,077.73 fat along the Northerly boundary of the said North half of the Sautb half of
Serino 3 to a point, also avid paint being the real point of begimirig;
Thaica South 0 degas 29'44" Went 335.18 fret ro a point;
Thrnca SoaDe 51 degree 43'00" East SBO.OD lea to a polaq
Thrace South 35 drgraa 00'00" Fat 285.33 teri to a point;
Thmoa South 22 degrees IS'00' West bO.OS feet to a point:
Thence South 43 degrees 58'10" East 238.75 fart to a point;
Tttace South 24 degrees OObD" Bast 11 O.OD tea td a pour,
Thence North 61 degrees 00'00" Fast 6!. I9 feet to a pasnt of curer,
Thence Northeasurly along a curve to the le& 147. l4 fact, said curve having a antral angle of 48 degrees 1 D28', a radlua
of 175.00 feet, rangers of 78.23 fee and a long chord of 142.64 fat bearbtg North 36 degrees 54'46' East to a point of
rndigg otetrrva;
TharrsNortle 56 degrees 30b0" West 151.36 ka to a point;
Thence North 4l degree 30b0" West 203.92 fee to a poinq
Thence North 17 degrees LS'00" Went 94.14 feet to apoint;
Thence North 22 dego®15'00" Bast 147.00 lixt to a point;
Thrace North 65 degrees SO'00" l~at 45.00 Cal to apoint;
Thence South 87 degrees 2D'00" Bast 78.90 foot to a point;
Tbeace South 68 degrera 00'DO° East 61.4B feet to a point;
Thence South 7l degrees 33'25" Best 88.05 tees ro a point;
Thence South 64 dogroer 00'00" Basi 106.33 fed to s point ofbrgiwmg of carve,
Thenoe Nordtmataly alrutg a curve to rim right 139.32 tat, said carve having a eeohal angle of 25 degrees 35'19", s redius
of31 L95 fat, tangents of 70.8411x[ and along chord of 138.16 fat bearing North 56 degrees 1220" East to a point of
~8~
ThaceNorth b9 degree DD'00' Past t 15.08 feet to a point aSenrvr,
ThanceNortheastclyalong a curve to the left 125.75 feat; said curve hav'urg a cabal angle of 24 degas 25'22°, a radios
of 295.00 tact. rangers otb3.84 fat and a long chord o[ 124.80 Fat braring North 56 degecs 47'19" Past to a point of
rang of curer,
Thence North 44 degeec 00'00" Wrst 79.63 fast to a point
Thrace North 67 degrees 45'40" Wet 16D.00 feet to a poled;
Theca South 65 degrees SO'00" West 244.67 tea to a point;
ThaoeNorth 50 degrees 3D'00" West 114.35 fed to a point;
TheaceNotd 44 degrees 00'DD" East 90.00 Fat to a point;
ThaceNotth 17 degrees OObO" West 175.00 feet to a point;
Thence North 12 degrees OObO" East 280.00 fat ro a point:
Thence North 77 degas 30'00" Weft 170.00 fact to a paint;
Thrnce South LB degrees OD'OD" West 265.00 teat to a point marking DteNartheastcorner of the SonWweat quarter of the
said Section 3;
Theca Naeth 75 defiers 30'OD" Wrst 190.OD [ed to a point;
Thence North 40 degree 00'00' Wrst 40.00 Peet to s point;
Thrace Send 75 degraea 59'31" West 70.00 feat ro a point;
Thane South 25 degrem OOt00" West b4.19 toe[ to a point on the said Northerly boundary of the NoM half of the South
halfofSedioo 3;
ThetrceNorth 89 degree 25'D6" Wtat 254.51 fad slang the said Northerly botmdary of the North IalPaf the South [alt of
• Serino 3 to rho point of beghming,
R,7CCEPT that portion lying within the following subd'ivisiarts:
Cheny [sae Village No. 1 Subdivision, according to the plat dereo~ tiled in Book 44 of Plats at Pages 3537 and 3538, .
raorda of Ada Coanty, Idaho; ,
~x~iigir .,A..
Lean Ne: 5590258 {Continued)
Cherry Loa YillageNo. 2 Subdivision, according to rho plat thaeol; f led is Book46 of Plats at Pages 3791 and 3792,
retards Of Ada County, Idaho;
The lake az Cherry Lang according to the plat thereof 51ed in Book 52 of Plats at Pages 4569 and 4570, retards of Ada
County, Idaho;
The Lake at Cherry Lave No. 2, according to thephtt thereof filed in Book34 of Plab at Pages 4862 and 4883, records of
Ada County, Idaho;
The Lake a< Cherry Lane Na 4 Subdivlsimr, according to the plat therooT fated in Book 74 of Phts at Pagn 7674 and
7675, rotards of Ada County, Idaho
PARCEL II1,A
A portion of the West half of Section 3, Township 3 Nordr, Range 1 West, Boise Merid'wn, Meridian, Ada County, idahq
more partlwlarly described as follows;
Commencing at the corner common ro Satiorm 4, 9, 10 and the said Section 3;
Thence North 0 delta 38'1 I" Bast 2651.19 fat ro the quarter corner common to said Suctions 3 and 4 as same way
reestablished by ES 972 (CP & F INSTRUMENT NO.7852146, raor~ of Ada County, [daho}; from which the
Norhwest tamer of said Sepioa 3 bears North 0 degree 36'27° East 2697A9 feet;
ThmeeNorth 0 degree 3827" East 22&1 feet ro a 318" 'von pin;
7'hedx South BS degrees 55'31"East 379.53 feet ro the rod point of beginning;
Thence contiming South 88 degrees 55'3!' Fast [$265 feet to a po'uu;
Thence SauW 8 d~ 18'10" East 440.66 fat to a pout;
Thence South 16 degrees 16'25° West 218.Q4 fat to a point;
Thence North 89 degrcta 13'51' East 54D.22 fcet ro a point;
Thence Nartlt 71 dtgras 43'34" East 442.46 that to a point;
Thence North 10 degrees 33'50^ East 487.84 feet to a point;
Thence South 88 degree 5531" Fast 124.84 fed to a point;
Theaoe South 50 degrees 38'25" East 89.99 fat ro a pomS
Thtboe !65.33 fat along the arc of a cetva ro the right, having a radius of 250.25 fce4 a central angle of 37 degrees 51'08",
aced a long chord bnring South 31 dews 4252" East 162.34 feet to a poiag
ThmaNorth 89 degras 29'94" Wet 120.24 feet to s point;
Thence South 4 degree 2717' East 80.30 led ro a point
Thence South 0 degree 30'16" West 230,52 fat ro a point;
Thence Sarah 10 degree 3!'20" Wnt 123,51 fat to a point;
Thrace Somh 30 degrees 14'07" West 119.57 feet to a point.
Thmca South 50 degree 50'29" Wnt 134.39 feet to a point,
Thence South 71 degrees 28'48" West 120.64 fed to a point;
Thrace South 82 degrees 45'52" Wnt 225.84 fed to a point;
Tlrenco South 89 degree 02'57" West 6730'fat ro a point
Thence South 89 degras 02'57" West 67.30 Poet ro a point;
7hcoee North 89 degree 10'41" West 825.06 &d ro a paing
Thence North 77 degrees 2920" West 148.07 feet to a point
Thence North 89 degrees 10'4!" West 160.40 led to a point lying 63.00 feet Fast of the Wnt boundary assail Sedien 3;
Thence elt>g8 a line 65.00 fat East o[and parallel to rho Walt boundary of said Stctlon 3 Noah 0 degree 38'11" East
247,64 acct ro a point;
Thence South 89 degras 2 t'49" HAST 156.03 FEET 7b A POINT;
Thence North 45 degree 03'16" East 163.61 fat to a pound;
Thrnce North S degas 39'3 f' East 502.42 Beet to the point of begirming.
PARCEL lI[-B
A portion of the Wtst half of Scetioa 3, Township 3 North, Range l West, Boise Meridian, Merid'Brt; Ada Caumy, Idaho,
moreparticu4ulydesedbed as follows:
Commmciag at the coma common to Scdloos 4, 9, LO and the said Section 3;
Thence North 0 degas 38'11" Bast 2651.[9 foe to the quarto corner carnroon to said Sections 3 and 4 as sumo was
reestablishod by LS 972 (CP & P Lrslntdurrrt Na 7852146, rocords of Ada County, Idaho); from which the Northwest
corner oPBald Sectiat 3 beats North 0 degree 38'27° East 2697.49 fag
Thrace North 0 delta 38'27" East 2264 fed to a 518' tron pin;
Thence Swath 88 degroes 5631" East 1977.72 fat ro a 5/8" 'von pin and the teal point of begltreitrg;
Thence South 0 d~rce 30'[5" West 413.59 feet to a point;
ThenoeNorth 68 degas 54'[ 1" West 26.71 fcet to a pater
Thenx North 68 degen Sd' 11" Nest 26.71 fat to a point;
Thence North 0 degra 30'IS" East 217.93 fat to a point;
Thence 2l L88 feet along tiro arc of a verve to the left, having a radius of 249.75 fat, a central angt of 48 degas 3625"
a~ a tong shad bearing North 23 degees 47'57" west 205.58 fcet ro a point;
Thence South 68 degas 55'3!" Fast 109.62 fat to the point of beginning
PARCEL N-A
A portion o[ the Southwest quarts o[ the Northwest quarts o[ Secleon 3, Tmvmhip 3 North, Range l Walt, Boise
Maidiaq Meridian, Ada County, Idaho, morepanicufarly described as follows:
Comme:tcirtg al the comer common to Salinas 4, 9, 10 and the said Soctioa 3;
Thence North 0 dogce 38'1 i ° East, 2651.19 feet to the quarts corner common W said Section 3 and 4 as same was
r~ecttablishM by LS 972 {CP dt F Insunmeat Na 7832146, rxords of Ada County, [dalto}; front which that iarthwes!
corner o[ said Seetioa 3 bears North 0 degee 3827" East, 2697.49 feet;
Thence North 0 delta 38'27" Hest 2264 fed to a 5/8" Iron pin;
Thence South 86 degree 55'3 I" East, 379.53 fed ro rho rail point of beginning;
Thrnce North 3 delta 39'3!" East, 290.28 fat to a point;
Thsa 46.45 fed along the arc of anon-tangent atrve to the right, having a radms o[250.00 feet, a central angle o[ 10
degrease 38'46°, and a Ioog chord baring South 49 degera 22'43" East, 4b,39 feet to a point;
Thence South 44 degrees 03'20" East, 136.d1 feet to a point;
Them South 8 lagers l8'l0° East, [b3.60 led ro a going
' Thence North 88 lagers 5531" Wnt, 18265 fed ro rho point of beginning .
Page 2
- EXHIBIT "A"
Loan Btu: 6590258 (Continued} iaage 3
PARCEL 1V-1s
A portion of Govaatnent 1At 4 and the Southvn~t quarter of 1heNorthwest quarter oPSeaion 3, Township 3 North, Range
1 West, Boie Meridiaq hSeridisn. A~ County, Idaho more particuhrly descnbed as follows:
Cottuneocing at the comer common ro Soctiwss 4, 9,10 end the said Section 3;
Theaoe North D degrce 38'11"East, 2651.19 feet to khe quarter comer cotttmoo to Bald Settloe 3 and 4 as saran was
rtxstablahed by IS 972 (CP & F lttstmment No. 7852146, records of Ada County, Idaho$ from which the Northwest
wrner of said Satioa 3 beats North 0 degeo 3827" East, 2697.49 Peet;
Thence North 0 degrm 3827" Fast 22.64 fcd ro a 5!8` iron pm;
Thence Soups 88 degrees 55'31" East, 839.71 feet ro a point;
Thence Nodh I degree 0429" Fast, 77.45 fat ro the rral point of beginning; ,_
Thmco 199.31 fed along the arc of curve to the right having a radios of 270.00 tat, a eerttral angle of 42 degrees 17'41"
and a bug chord bearing North 65 degrees 12'11' West, 194.81 fed to a pelt[[
77tmce North 44 degrces 03"20" Wt~,198,06 fact to a point;
TbmceNath 37 degrm 38"OS" Fast, 125.90 fad to a point;
ThrneaNotth 4 degrees 2620" Weat,178.94 fat ro a point;
Thence North 99 degras 13'43" Went, 619.18 fat ro apoha;
Thence Nertb 89 degrces 2 E'33' West. 39.721bd to a paint;
Theca North 0 degree 3827' East, 178.b 1 fcd to a point;
Thence South 89 degrees 21'33" Fast, 104.94 feet m apoiut
Thmca North 26 degees 46'55" East, 463.73 fed ro a point;
TbenceNarth t3 degrees OS'08" East, 186.18 feet ro apabtt
Thence South 89 degrees 23'04° East, 22!.37 fed ro apoint
Thence Sault 0 dcgroe 36'56" West, 30.00 fed ro a point;
Therm North 89 degrees 23'04" West, 114.43 feet to a polo[
Theca South 10 degrera 36' I t" Went, 162.48 fat ro a poim;
Thcoop South 5 degrees 36'09" East, 16D.93 [ed to a polar,
Thaux South 48 dtgrea 58'55' Welk, 66.41 feet to a pole[;
Thmea South l0 degrees 49'04" West, 123.62 Ced to a podnt
Thence South l2 degraa 00'00" Bast, 85.00 feet to o point;
Thmm Sonlh 33 degrees 26'21"East, 192.6D fat !o a point
Theavo5oulh 6 degrtes SI'Sl"West,151.05 feet to a poinfi
Thetxa South 41 degrees 14'14" Bast, 171.06 Fed to a point;
Thmoe Sowh 89 degras 12'26" East, 122.33 ihd ro a point;
Thrrtce South 43 deget>rs 03'05' East, 60.OD fat to a point;
Thence South 0 degra 36' lS" West, 671,50 fat so Ore point of beginning.
PARCEL 1y.C
A portion of OteNarthwest quarter of Sadlon 3, Township 3 North, Range 1 West, Boise Meridian, Meidiaq Ada County,
• Idaho, rttareparlicularly described as fold
Caauoatcin; at the comer common to Sections 4, 9,10 and the said Section 3;
Thence North 0 degree 38'1 l" East, 2631.19 fact to the quartet came conueon to said Sections 3 std 4 as same was
reeatablishtd by LS 972 {CP do F I>adumetttNo. 7832146, records of Ada County, Iddto); from which Ibo Northwest
wrna of said Section 3 boors North 0 degree 3827" East, 2697.49 fed;
Thrace North 0 degrm 3827' East 22.64 feet ro a S!8" iron pin;
T[u;sce South 88 degrua 55'3!' Heat, 1784.61 feet to a paint
Thrum NarOo 1 degree 0429" East, 3D3.15 foot ro floe real point of beginning;
Thence North 66 degees 28'40" Wet, I57.T0 fed ro a poiofi ,
Thmx North S6 degrets SG39" West, 717.37 fat ro a point;
7henoeNorth 89 degrees 23'44" West, 36.12 fat to a point;
ThettceNorth 0 degree 36'28" East, 5,00 fcet ro a point;
Tbrnca 154,39 foot along Ore arc of a non-tangent curve to the 1e9, having a radius of 225.DD feet, a antra[ angle of 34
d 22'00", and a bug chord beariug North 19 degrees 04'45" west,lS 1,57 [ed ro a point
Thence North 38 degras 45'43" West, 39.00 Fat ro apoint
Thcnca Nonh S I degrees 14'15" East, t 10,00 feet ro a point
Theca North 26 degrees 1131" West, 134.78 fed ro a point;
ThtstceNorth 4 degrses 0420" West, 277.43 tcet tv a point;
ThaxeNorth 31 degres 46'35" West, 24136 feet ro a point
TheacaNmth 0 degrm 3fi'S6" Past, 132.59 foot to a point
These North 89 degrees 23'D4" West, l 10.00 fed ro a polar,
TheecoNotth 0 degree 36'56" East, 30.00 fed to a point;
Tkatce South 89 degrees 2304" Fast, !75.94 fcet to a point;
Tlunee South 78 degree 0529" Fast; 71.13 fat ro a point;
Thence South 63 ~gras 1396" East, 65.34 fat ro a point
Thence South 36 degrees 2832" East, 79.07 fat ro a point
Thrace SouOt 33 degas 15'09" East, 86.07 fat ro apoint
Thence South 42 degrees 31'18" East. 70.53 fleet ro a point
Thrace South 35 degrtxs 28'22" East, 77.08 feet to a point
Therm South 5 degrees 49'06" East, 249.89 !bet to a point;
Thence South 8 degrees 16'07' Fast, 123.42 Pat to a point:
Thence South 13 degrees 5620' East, 266.06 fed ro a point
Theca South 42 degrees 4329' East, 283.D7 feet ro apoint
TheomNerth 61 degroes 49'13" Fast, 165.37 6:[ to a point;
ThwceNorth 11 degras 00'42" West, 399.24 fat ro a poiefi
Tbenw South 89 degrms [8'49" Past, 398.40 fact to a point
Thence South 79 dogtrot 02'15" East, 61.16 feet to a point
Thence South 617 degras 40'15" Hest, 16439 [bet to a pobtt
Thma South 85 degrees 10'18" East, 136.30 feet ro a point;
Thence SoaOt D degree 30'15" Wrst, 235.93 fed ro a point '
Thrnw North 89 degrees 29'45" West, 8t1A0 tea ro a point
Theitee South 78 degees 33'49" Weat,182.71 fad to a point;
There South ! 1 degraa 45'15" West, 183.77 fed to a poinfi
Tben®South D degree 30'15' West, 154.10 fat ro a point
T[xace 288.86 fbd ahmg the arc of anon-tangent curve to the left, having a radius of 425.00 fed, a oetdral angle of 38 ,
degras 563E", sad a long chord bearing South 63 degras 04'1 f' west, 28333 fed ro rho point o[beglnnlog.
EXHIBIT "A"
loan No: 5590258 {Gon#inued)
Page 4
PARCI6L IV-D
A portion oCthe Southeast quarts of the Northwest quarter of Section 3, Township 3 North, Range 1 West, Boise
Maidisq Maidiam, Ada County, ]daho, mare particulatiy deaaibod as follows:
t.ortunmeing at the comer wrnmoa ro Sectiem 4, 9,10 and We said Section 3;
Thence NarUt D degree 38'1 t° Easy, 265 [.19 feet to the quota wmer common to said Sections 3 and 4 as same was
rasstablished by LS 972 (CP & F [nstrranmtNa 7852146, raar~ of Ada County, [dahoj; tram which the Norihmst
wrna of said Serdioa 3 bears North 0 degra 36'27° East, x697.49 fceh,
Tl~ttoeNorth D degra 38'27"Fast 22.64 feet to a S/S° iron pin;
Thanes South 88 degras 55'31° East,1614.53 feat ro the real point of begimung;
ThatceNorlh 10 degas 33'50' East, 72.37 feet ro apoint;
PARCEL IV-£
A portion of Ute Southast quarter of the Naetitwnst quaeia o[Sation 3, Township 3 Nottlt, Range 1 Wen, Hoise
Meridian, Maidlan, Ada Caunry, Idaho, mare partieolarly deser~od as follov~
Conunendog at the coma eonurtoa ro Sections 4, 9,10 and the said Satinet 3;
Thence North 4 degrco 36'! 1" Easy 265 [.19 fat to the quarto cams eammoe to said Sections 3 and 4 as same was
rashdblishod by LS 97a (CP do F Insttumeat No. 7652146, records oPAda Cauaty, ldalpj; from which the Northwest
coma of sa[d Section 3 bars NatUt 0 degee 3637" East, 269249 Ceet;
'i7tmoeNarth 0 degree 38'27` $ast 22.64 feet to a 518" ironpin;
Thence South 88 degas 55'31" Easf,1977.72 felt to: S!8" tram pia and tha tat point of hcginatrg;
Ther3eeNoAh 86 degrers 5531' Wryt 109.62 fat to apaint;
Thence 11A6 Cat along the aze of a aorNangant cn[ve ro the left, having a radus of 249,75 foot,: csnhal angle of 2
degrxs 32'16', and a leafs chord barns North 49 degrees 22'l7' West, I L06 fact ro a point;
Tharce NoRh 50 degras 38'25" Wisf, 94.32 fat ro a point;
Thence ¢0.45 fat along the arc of a cntve ro the 1c8, having a radms of b80,00 felt, a central angla of 5 degras 05'36",
and a long rhord bearing North 53 degree ! 1'13' West, 60.43 fat to apoint;
Theca 30.13 fad along the are der wave ro tho tight, having: radius of x0.00 feet, a ernlral angle of 86 degras 18'50",
and a long chord baring North I2 degrxs 34'36" West, x7.36 Cat to a point;
Theta North 3D degrera 34'50" Eon, 84.13 fodto apoinh
Theory 269,77 fat along tho arc of a wwa ro the tight' having a radios of 375.00 bed, a central eagle of41 dcgraa 13'04',
and a tong chord barirtg North S E degtas 1171" East, 263.99 feet ro a paint;
?batce South D degtea3D'15" West, 369.89 fat ro thepoint of begltudng
PARCEL V
Lots 1 and 52 is Block 5, and Lot l l in Hlaek 9 of Clary Pane VdlageNo. l Subdivisiaq acwrd'utg ro theplri thereof
Lied in Book 44 of plats at Pages 3537 thro 3338, records of Ada County, Idaho
PARCEL VI
Lds 12 and 2I In $hKk 9 sad Lot 4 w Block l1 and Cat 53 in HlakS of Cherry Lana Yilfaga Na 2 Subdivisiaq
aaadmg ro the plat thereo; Lied in Hook 46 of Plats at Pages 3791 sad 3792, records of Ada County, Idaho.
PARCEL VIl
Lot 83 is Hlock3 and Lot [4, m Block 13 Chary bane Villago No. 3 Subdivisiort according ro the of6eiri plat thaeef Lied
in Book 58 oCPlats at pages 5473 t[vu 5475, records ofAda County, Idaho,
PARCI~L vin
Lot 28 ib $lodc 1 l and lot 39 in Hkrc1: l3 Chary Lane Village Na 4 Sabdnisioo according to the ofTuial plat thereof
L[al in Bolt 63 of Pets ri Pages 6376 sad 6377, records of Ada County, Idaho.
PARC$I. IX
Lot 9 5t Block 1 of Raord OCSnrveyNa 802 of adjusted bt ]Ines for Lots B, 9 and l0, W Bhrak t ofThe fake at Chary
Lang according to the plat thereof 0[ad in 8oaic S2 of Plats at Page 4569 and 4570, raotds afAda Cocnty, Idaho.
£XCLiPT thst portion lying within the original Lat &
PARCEL 7C
Lot 5 in Block [ and Lot 13 is 81ock 2, The Lake at Chary LaneNa 2, aecotding ro the p[u thereof, filed in Book 34 of
Plats at Pager 4882 and 4883, rewrds of Ada Candy, ldalm
PARCEL XI
Lot 24 in Hlock 2 of The Cake ri Cherry Lane No. 3 Subdivision according to the ofLalri plat maeef 8[ad im Book 70 of
Plats at Paget 7167 and 7168, rooords of Ada County, Idaho
PARCEL X11
Lot 19 in Block I and L,ot 46 is llktcl:2 of Thor faker at Cherry Yana Na 4 Subdivision, according ro the official plat
thereof, Glad in Book 74 o[Plats az Pager 7674 and 7675, roads of Ada County, ldaha
EXHIBIT "A"
Losn nlo: 5590288 (Continued) Page b
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THIS EXHIBIT 'A" IS EXECUTED ON MAY 17, 2006.
GRANTOR:
LAKEVIEW MERIO]AN INVESTORS, LLC
OARS LANEY, LLC, Mamher a} LAKEVIEW MERIDIAN INVESTORS, LLC
WHITEROCK INVESTM C, Member of OARS LANEY, LLC
ey:
T. ER e r o WHITEROCK
INVEST E
LANEYLAND }~°., ember of OAA ~EY, LLC
~R. OAVI3 P ERTIES, lNG. emb KEVEEW MERIDIAN INVESTORS, LLC
By:
RD R. DAVIS, resi ent of R. DAVIS
PRDPERTIES, INC.
R.R. DAVIS P T1E5, IN .
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By:
RI D R. DAVIS i eat of R.R. DAVIS
PROPERTIES, INC.
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