Leasehold Deed of TrustAfter Recordation Return to:
LEASEHOLD DEED OF TRUST
BORROWER I GRANT.OH
CHERRY LANE RECREATION, INC. CHERRY LANE RECREATION, INC.
AN IDAHO CORPORATION I AN IDAHO CORPORATION
r ADDRESS''
4200 W. TALAMORE
MERIDIAN, IDAHO 83642
.......... .... I ......... ........
7�LEPHrJNE Ng'. Il)ENTIFICA7IQN Np
208-888-4080 82-0344330
TRUSTEE: PIONEER TITLE COMPANY OF ADA COUNTY
8151 W. RIFLEMAN STREET, BOISE, IDAHO 83704
ADDRESS
4200 W. TALAMORE
MERIDIAN, IDAHO 83642
TECEPNQNE Np;I IDEN7IFICA710N Np
208-888-4080 82-0344330
In consideration of the loan or other credit accommodation hereinafter specified and any future advances or future Obligations, as defined herein,
which may hereafter be advanced or incurred and the trust hereinafter mentioned and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Grantor hereby Irrevocably bargains, sells, transfers, grants, conveys and assigns to Trustee, his
successors and assigns, intrust, for IDAHO INDEPENDENT BANK
("Lender"),
the beneficiary under this Deed of Trust, with power of sale and right of entry and possession all of Grantor's interest in that certain lease described in
Schedule A (the "Lease"), such leasehold estate being located on the land described in Schedule B (the "Land") together with all present and future
tenements, hereditaments, and appurtenances; and the reversions, remainders, rents and profits pertaining to the real property (cumulatively
"Property"); to have and to hold the Property and the rights hereby granted for the use and benefit of Trustee, his successors and assigns, until
payment in full of all Obligations secured hereby.
Moreover, in further consideration, Grantor does, for Grantor and Grantor's heirs, representatives, successors, and assigns, hereby expressly
warrant, covenant, and agree with Lender and Trustee and their successors and assigns as follows:
1. OBLIGATIONS. This Deed of Trust shall secure the payment and performance of all present and future indebtedness, liabilities, obligations and
covenants of Borrower or Grantor (cumulatively "Obligations") to Lender pursuant to:
(a) this Deed of Trust and the following promissory notes and other agreements:
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?'RATE <
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AGIiE�MENI DATA .:
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NUM BER
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VARIABLE
VARIABLE
$500,000.00
$400,000.00
09/09/99
09/09/99
02/22/00
02/22/00
05111284
05111289
(b) all other present or future written agreements with Lender which refer specifically to this Deed of Trust (whether executed for the same or
umerem purposes inan ine roregoing);
(c) any guaranty of obligations of other parties given to Lender now or hereafter executed which refers to this Deed of Trust;
(d) future advances, whether obligatory or optional, to the same extent as if made contemporaneously with the execution of this Deed of
Trust, made or extended to or on behalf of Grantor or Borrower. Grantor agrees that if one of the Obligations is a line of credit, the lien of this
Deed of Trust shall continue until payment in full of all debt due under the line notwithstanding the fact that from time to time (but before
termination of the line) no balance may be outstanding. At no time shall the lien of this Deed of Trust not including amounts advanced to
protect the security of this Deed of Trust, exceed $_1x800,,-0-00-00--.; and
(e) all amendments, extensions, renewals, modifications, replacements or substitutions to any of the foregoing.
As used in this Paragraph 1, the terms Grantor and Borrower shall include and also mean any Grantor or Borrower if more than one.
2. REPRESENTATIONS, WARRANTIES AND COVENANTS. Grantor represents, warrants and covenants to Lender that:
(a) Grantor shall maintain the Property free of all liens, security interests, encumbrances and claims except for this Deed of Trust and those
described in Schedule C which is attached to this Deed of Trust and incorporated herein by reference, which Grantor agrees to pay and
perform in a timely manner;
(b) Grantor is in compliance in all respects with all applicable federal, state and local laws and regulations, including, without limitation, those
relating to "Hazardous Materials," as defined herein, and other environmental matters (the "Environmental Laws"), and neither the federal
government nor the state where the Property is located nor any other governmental or quasi governmental entity has filed a lien on the
Property, nor are there any governmental, judicial or administrative actions with respect to environmental matters pending, or to the best of the
Grantor's knowledge, threatened, which involve the Property. Neither Grantor nor, to the best of Grantor's knowledge, any other party has
used, generated, released, discharged, stored, or disposed of any Hazardous Materials as defined herein, in connection with the Property or
transported any Hazardous Materials to or from the Property. Grantor shall not commit or permit such actions to be taken in the future. The
term "Hazardous Materials" shall mean any substance, material, or waste which is or becomes regulated by any governmental authority
Including, but not limited to; (1) petroleum; (ii) friable or nonfriable asbestos; (iii) polychlorinated biphenyls; (iv) those substances, materials or
wastes designated as a "hazardous substance" pursuant to Section 311 of the Clean Water Act or listed pursuant to Section 307 of the Clean
Water Act or any amendments or replacements to these statutes; (v) those substances, materials or wastes defined as a "hazardous waste"
pursuant to Section 1004 of the Resource Conservation and Recovery Act or any amendments or replacements to that statute; and (vi) those
substances, materials or wastes defined as a "hazardous substance" pursuant to Section 101 of the Comprehensive Environmental Response,
Compensation and Liability Act, or any amendments or replacements to that statute or any other similar state or federal statute, rule, regulation
or ordinance now or hereafter in effect. Grantor shall not lease or permit the sublease of the Property to a tenant or subtenant whose
operations may result in contamination of the Property with Hazardous Materials or toxic substances;
(c) All applicable laws and regulations including, without limitation, the Americans with Disabilities Act, 42 U.S.C. 12101 et seq. (and all
regulations promulgated thereunder) and all zoning and building laws and regulations relating to the Property by virtue of any federal, state or
municipal authority with jurisdiction over the Property, presently are and shall be observed and complied with in all material respects, and all
rights, licenses, permits, and certificates of occupancy (including but not limited to zoning variances, special exceptions for nonconforming
uses, and final inspection approvals), whether temporary or permanent, which are materials to the use and occupancy of the Property,
presently are and shall be obtained, preserved and, where necessary, renewed;
i
MAST 536 (II FormAlion Technologies, Inc. (11/5/96) (BOO) 937-3799 Page I of 6 1/.�L 1- -
(d) Grantor has the right and is duly authorized to execute and perform its Obligations under this Deed of Trust and these actions do not and
shall not conflict with the provisions of any statute, regulation, ordinance, rule of law, contract or other agreement which may be binding on
Grantor at any time;
(e) No action or proceeding is or shall be pending or threatened which might materially affect the Property;
(f) Grantor is the owner of the tenant's interest under the Lease and there are no defaults thereunder. Grantor has good right and lawful
authority to grant and convey its interest in the Lease and the granting of this Deed of Trust is not in violation of any provision of the Lease;
(g) Grantor will exercise all renewals of the Lease unless Lender approves of the non -renewal and will furnish proof of payment of any Lease
obligations of Grantor upon request of Lender; and
(h) Grantor has not violated and shall not violate any statute, regulation, ordinance, rule of law, contract or other agreement (including, but not
limited to, those governing Hazardous Materials) which might materially affect the Property or Lender's rights or interest in the Property
pursuant to this Deed of Trust.
3. INQUIRIES AND NOTIFICATION TO THIRD PARTIES. Grantor hereby authorizes Lender to contact any third party and make any inquiry
pertaining to Grantor's financial condition or the Property. In addition, Lender is authorized to provide oral or written notice of its interest in the
Property to any third party.
4. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN GRANTORS OR BORROWERS. In the event of a sale, conveyance, lease,
contract for deed or transfer to any person of all or any part of the Property, any of Grantor's interest or rights under the Lease, or any interest therein,
or of all or any beneficial interest in Borrower or Grantor (if Borrower or Grantor is not a natural person or persons but is a corporation, partnership,
trust, or other legal entity), Lender may, at Its option, declare the outstanding principal balance of the Obligations plus accrued interest thereon
immediately due and payable. At Lender's request, Grantor or Borrower, as the case may be, shall furnish a complete statement setting forth all of its
stockholders, members or partners, as appropriate, and the extent of their respective ownership interests.
S. SUBLEASES AND OTHER AGREEMENTS. Grantor shall not take or fail to take any action which may cause or permit the termination or the
withholding of any payment in connection with any sublease or other agreement ("Agreement") pertaining to the Property. In addition, Grantor,
without Lender's prior written consent, shall not: (a) collect any monies payable under any Agreement more than one month in advance; (b) modify
any Agreement; (c) assign or allow a lien, security interest or other encumbrance to be placed upon Grantor's rights, title and interest in and to any
Agreement or the amounts payable thereunder; or (d) terminate or cancel any Agreement except for the nonpayment of any sum or other material
breach by the other party thereto. If Grantor receives at any time any written communication asserting a default by Grantor under an Agreement or
purporting to terminate or cancel any Agreement, Grantor shall promptly forward a copy of such communication (and any subsequent
communications relating thereto) to Lender. All such Agreements and the amounts due to Grantor thereunder are hereby assigned to Lender as
additional security for the Obligations.
6. COLLECTION OF INDEBTEDNESS FROM THIRD PARTY. Lender shall be entitled to notify or require Grantor to notify any third party (including,
but not limited to, lessees, licensees, governmental authorities and insurance companies) to pay Lender any indebtedness or obligation owing to
Grantor with respect to the Property (cumulatively "Indebtedness") whether or not a default exists under this Deed of Trust. Grantor shall diligently
collect the Indebtedness owing to Grantor from these third parties until the giving of such notification. In the event that Grantor possesses or receives
possession of any instruments or other remittances with respect to the Indebtedness following the giving of such notification or if the instruments or
other remittances constitute the prepayment of any Indebtedness or the payment of any insurance or condemnation proceeds, Grantor shall hold
such instruments and other remittances in trust for Lender apart from its other property, endorse the instruments and other remittances to Lender,
and immediately provide Lender with possession of the instruments and other remittances. Lender shall be entitled, but not required, to collect (by
legal proceedings or otherwise), extend the time for payment, compromise, exchange or release any obligor or collateral, or otherwise settle any of
the Indebtedness whether or not an Event of Default exists under this Deed of Trust. Lender shall not be liable to Grantor for any action, error,
mistake, omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. Notwithstanding the foregoing,
nothing herein shall cause Lender to be deemed a mortgagee -in -possession.
7. USE AND MAINTENANCE OF PROPERTY. Grantor shall take all actions and make any repairs needed to maintain the Property In good
condition. Grantor shall not commit or permit any waste to be committed with respect to the Property. Grantor shall use the Property solely in
compliance with applicable law and insurance policies. Grantor shall not make any alterations, additions or improvements to the Property without
Lender's prior written consent. Without limiting the foregoing, all alterations, additions and improvements made to the Property shall be subject to
the beneficial interest belonging to Lender, shall not be removed without Lender's prior written consent, and shall be made at Grantor's sole expense.
8. LOSS OR DAMAGE. Grantor shall bear the entire risk of any loss, theft, destruction or damage (cumulatively "Loss or Damage") to the Property or
any portion thereof from any cause whatsoever. In the event of any Loss or Damage, Grantor shall, at the option of Lender, repair the affected
Property to its previous condition or pay or cause to be paid to Lender the decrease in the fair market value of the affected Property.
9. INSURANCE. The Property will be kept Insured for Its full insurable value (replacement cost) against all hazards including loss or damage caused
by flood, earthquake, tornado and fire, theft or other casualty to the extent required by Lender. Grantor may obtain insurance on the Property from
such companies as are acceptable to Lender in its sole discretion. The insurance policies shall require the insurance company to provide Lender with
at least 30 days' written notice before such policies are altered or cancelled in any manner. The insurance policies shall name Lender
as a loss payee and provide that no act or omission of Grantor or any other person shall affect the right of Lender to be paid the insurance proceeds
pertaining to the loss or damage of the Property. In the event Grantor fails to acquire or maintain insurance, Lender (after providing notice as may be
required by law) may in its discretion procure appropriate insurance coverage upon the Property and the insurance cost shall be an advance payable
and bearing interest as described in Paragraph 22 and secured hereby. Grantor shall furnish Lender with evidence of insurance indicating the
required coverage. Lender may act as attorney-in-fact for Grantor in making and settling claims under insurance policies, cancelling any policy or
endorsing Grantor's name on any draft or negotiable instrument drawn by any insurer. All such insurance policies shall be immediately assigned,
pledged and delivered to Lender as further security for the Obligations. In the event of loss, Grantor shall immediately give Lender written notice and
Lender is authorized to make proof of loss. Each insurance company is directed to make payments directly to Lender instead of to Lender and
Grantor. Lender shall have the right, at its sole option, to apply such monies toward the Obligations or toward the cost of rebuilding and restoring the
Property. Any amounts may at Lender's option be applied in the inverse order of the due dates thereof.
10. ZONING AND PRIVATE COVENANTS. Grantor shall not initiate or consent to any change in the zoning provisions or private covenants affecting
the use of the Property without Lender's prior written consent. If Grantor's use of the Property becomes a nonconforming use under any zoning
provision, Grantor shall not cause or permit such use to be discontinued or abandoned without the prior written consent of Lender. Grantor will
immediately provide Lender with written notice of any proposed changes to the zoning provisions or private covenants affecting the Property.
11. CONDEMNATION. Grantor shall immediately provide Lender with written notice of any actual or threatened condemnation or eminent domain
proceeding pertaining to the Property. All monies payable to Grantor from such condemnation or taking are hereby assigned to Lender and shall be
applied first to the payment of Lender's attorneys' fees, legal expenses and other costs (including appraisal fees) in connection with the
condemnation or eminent domain proceedings and then, at the option of Lender, to the payment of the Obligations or the restoration or repair of the
Property.
12. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Grantor shall immediately provide Lender with written notice of any actual
or threatened action, suit, or other proceeding affecting the Property. Grantor hereby appoints Lender as its attorney-in-fact to commence, intervene
in, and defend such actions, suits, or other legal proceedings and to compromise or settle any claim or controversy pertaining thereto. Lender shall
not be liable to Grantor for any action, error, mistake, omission or delay pertaining to the actions described in this paragraph or any damages
resulting therefrom. Nothing contained herein will prevent Lender from taking the actions described in this paragraph in its own name.
13. INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Grantor's obligations with respect to the Property
under any circumstances. Grantor shall immediately provide Lender with written notice of and indemnify and hold Lender and its shareholders,
directors, officers, employees and agents harmless from all claims, damages, liabilities (including attorneys' fees and legal expenses), causes of
action, actions, suits and other legal proceedings (cumulatively "Claims") pertaining to the Property (including, but not limited to, those involving
Hazardous Materials). Grantor, upon the request of Lender, shall hire legal counsel to defend Lender from such Claims, and pay the attorneys' fees,
legal expenses and other costs incurred in connection therewith. In the alternative, Lender shall be entitled to employ its own legal counsel to defend
such Claims at Grantor's cost. Grantor's obligation to indemnify Lender under this paragraph shall survive the termination, release or foreclosure of
this Deed of Trust.
14. TAXES AND ASSESSMENTS. Grantor shall pay all taxes and assessments relating to the Property when due and immediately provide Lender
evidence of payment of same. Upon the request of Lender, Grantor shall deposit with Lender each month one -twelfth (1/12) of the estimated annual
insurance premium, taxes and assessments pertaining to the Property. So long as there is no default, these amounts shall be applied to the payment
of taxes, assessments and insurance as required on the Property. In the event of default, Lender shall have the right, at its sole option, to apply the
funds so held to pay any taxes or against the Obligations. Any funds applied may, at Lender's option, be applied in reverse order of the due date
thereof.
15. INSPECTION OF PROPERTY, BOOKS, RECORDS AND REPORTS. Grantor shall allow Lender or its agents to examine and inspect the
Property and examine, inspect and make copies of Grantor's books and records pertaining to the Property from time to time. Grantor shall provide
any assistance required by Lender for these purposes. All of the signatures and information contained in Grantor's books and records shall be
genuine, true, accurate and complete in all respects. Grantor shall note the existence of Lender's beneficial interest in its books and records
pertaining to the Property. Additionally, Grantor shall report, in a form satisfactory to Lender, such information as Lender may request regarding
Grantor's financial condition or the Property. The information shall be for such periods, shall reflect Grantor's records at such time, and shall be
rendered with such frequency as Lender may designate. All information furnished by Grantor to Lender shall be true, accurate and complete in all
respects, and signed by Grantor if Lender requests.
16. ESTOPPEL CERTIFICATES. Within ten (10) days after any request by Lender, Grantor shall deliver to Lender, or any intended transferee of
Lender's rights with respect to the Obligations, a signed and acknowledged statement specifying (a) the outstanding balance on the Obligations; and
(b) whether Grantor possesses any claims, defenses, set -offs or counterclaims with respect to the Obligations and, if so, the nature of such claims,
defenses, set -offs or counterclaims. Grantor will be conclusively bound by any representation that Lender may make to the Intended transferee with
respect to these matters in the event that Grantor fails to provide the requested statement in a timely manner.
MAST536B (0 FormAllon Technologies, Inc. (11/5/96) (600) 937-3799 Page 2 of 6 —J�
17. EVENTS OF DEFAULT. An Event of Default shall occur under this Deed of Trust and the Trustee's power shall become operative in the event
that Grantor, Borrower or any guarantor of any Obligation;
(a) fails to pay any Obligation to Lender when due;
(b) fails to perform any Obligation or breaches any warranty or covenant to Lender contained in this Deed of Trust or any other present or
future agreement;
(c) destroys, loses or damages the Property in any material respect or subjects the Property to seizure, confiscation or condemnation;
(d) seeks to revoke, terminate or otherwise limit its liability under any guaranty to Lender;
(e) dies, becomes legally incompetent, is dissolved or terminated, becomes insolvent, makes an assignment for the benefit of creditors, fails
to pay debts as they become due, files a petition under the federal bankruptcy laws, has an involuntary petition in bankruptcy filed in which
Grantor, Borrower or any guarantor is named, or has property taken under any writ or process of court;
(f) allows goods to be used, transported or stored on the Property, the possession, transportation, or use of which, is illegal;
(g) allows any party other than Grantor or Borrower to assume or undertake any Obligation without the written consent of Lender; or
(h) causes Lender to deem itself insecure due to a significant decline in the value of the Property; or Lender, in good faith, for any reason
believes that the prospect of payment or performance is impaired.
18. RIGHTS OF LENDER ON EVENT OF DEFAULT. Upon the occurrence of an Event of Default under this Deed of Trust, Lender shall be entitled
to exercise one or more of the following remedies without notice or demand (except as required by law):
(a) to declare the Obligations immediately due and payable in full, such acceleration shall be automatic and immediate if the Event of
Default is a filing under the Bankruptcy Code;
(b) to collect the outstanding Obligations with or without resorting to judicial process;
(c) to require Grantor to deliver and make available to Lender any personal property or Chattels constituting the Property at a place
reasonably convenient to Grantor and Lender;
(d) to enter upon and take possession of the Property without applying for or obtaining the appointment of a receiver and, at Lender's
option, to appoint a receiver without bond, without first bringing suit on the Obligations and without otherwise meeting any statutory
conditions regarding receivers, it being Intended that Lender shall have this contractual right to appoint a receiver;
(e) to employ a managing agent of the Property and let the same, either in Trustee's own name, in the name of Lender or in the name of
Grantor, and receive the rents, incomes, issues and profits of the Property and apply the same, after payment of all necessary charges and
expenses, on account of the Obligations;
(f) to pay any sums in any form or manner deemed expedient by Lender to protect the security of this Deed of Trust or to cure any default
other than payment of interest or principal on the Obligations;.
(g) to foreclose this Deed of Trust judicially or nonjudicially;
(h) to set-off Grantor's Obligations against any amounts owed Grantor by Lender including, but not limited to, monies, instruments, and
deposit accounts maintained with Lender or any currently existing or future affiliate of Lender; and
(i) to exercise all other rights available to Lender under any other written agreement or applicable law.
Lender's rights are cumulative and may be exercised together, separately, and in any order. In the event that Lender institutes an action seeking the
recovery of any of the Property by way of a prejudgment remedy in an action against Grantor, Grantor waives the posting of any bond which might
otherwise be required. Lender or Lender's designee may purchase the Property at any sale. The Property or any part thereof may be sold in one
parcel, or in such parcels, manner or order as Lender in its sole discretion may elect, and one or more exercises of the power herein granted shall not
extinguish or exhaust the power unless the entire Property is sold or the Obligations are paid in full.
19. LEASEHOLD PROVISIONS.
(a) Grantor agrees that Grantor will timely perform all obligations of Grantor under the Lease and that it will not take or omit to take any
action which will cause a default thereunder or that with notice or after the passage of time, or both, would be a default thereunder. Grantor
agrees that It will promptly notify Lender in writing of any default by Grantor under the Lease and that it will promptly send to the Lender any
notice (other than on a regular periodic basis for monthly rent payments) from the Landlord under the Lease, including any notice noting or
claiming any default by the Grantor under the Lease.
(b) Lender shall have the right to cure any default under the Lease within the time permitted In the lease and all sums advanced thereby
shall be immediately due and payable with interest thereon at the lower of the highest rate described in any Obligation or the highest rate
allowed by law from the date of payment until the date of reimbursement and shall, together with such interest, become a part of the
Obligations.
(c) In case of an Event of Default under Paragraph 17, in addition to any other rights and remedies available, Lender may make full or partial
payments of rent due under the Lease, perform any other obligations of Grantor under the Lease and purchase, discharge, compromise, or
settle the Lease. All monies paid for any of the purposes herein authorized and all expenses paid or incurred in connection therewith,
including attorneys' fees, to the extent permitted by applicable law, shall be so much additional indebtedness secured hereby, and shall
become immediately due and payable without notice and with interest thereon. Inaction of Lender shall never be considered as a waiver of
any right accruing to it on account of any default on the part of Grantor.
(d) Any default on the part of Grantor under the Lease shall constitute a default under this Deed of Trust and the Obligations secured hereby
and shall entitle the Lender to exercise any and all rights and remedies given hereunder.
(e) Grantor will not amend or modify the Lease without the prior written consent of Lender.
20. MERGER OF FEE IN LEASEHOLD ESTATE. In the event that Grantor acquires the fee title or any other estate, title or interest in the premises
covered by the Lease, this Deed of Trust shall attach to and cover and be a lien upon the fee title or such other estate so acquired and such fee title or
other estate shall, without further assignment, grant or conveyance become and be subject to the lien or encumbered by this Deed of Trust.
21. SECURITY INTEREST UNDER THE UNIFORM COMMERCIAL CODE. This Deed of Trust shall be considered a financing statement and a
fixture filing pursuant to the provisions of the Uniform Commercial Code (as adopted by the state where the Property is located) covering fixtures,
chattels, and articles of personal property now owned or hereafter attached to or to be used in connection with the Property together with any and all
replacements thereof and additions thereto (the "Chattels"), and Grantor hereby grants Lender a security interest in such Chattels. The debtor is the
Grantor described above. The secured party is the Lender described above. Upon demand, Grantor shall make, execute and deliver such security
agreements (as such term is defined in said Uniform Commercial Code) as Lender at any time may deem necessary or proper or require to grant to
Lender a perfected security Interest in the Chattels, and upon Grantor's failure to do so, Lender is authorized to sign any such agreement as the
agent of Grantor. Grantor hereby authorizes Lender to file financing statements (as such term is defined in said Uniform Commercial Code) with
respect to the Chattels, at any time, without the signature of Grantor. Grantor will, however, at any time upon request of Lender, sign such financing
statements. Grantor will pay all filing fees for the filing of such financing statements and for the refiling thereof at the times required, in the opinion of
Lender, by said Uniform Commercial Code. If the lien of this Deed of Trust is subject to any security agreement covering the Chattels, then in the
event of any default under this Deed of Trust, all the right, title and interest of Grantor in and to any and all of the Chattels is hereby assigned to
Lender, together with the benefit of any deposits or payments now or hereafter made thereof by Grantor or the predecessors or successors in title of
Grantor in the Property.
22. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Lender, at Lender's option, may expend funds (including attorneys' fees and
legal expenses) to perform any act required to be taken by Grantor or to exercise any right or remedy of Lender under this Deed of Trust. Upon
demand, Grantor shall immediately reimburse Lender for all such amounts expended by Lender together with interest thereon at the lower of the
highest rate described in any Obligation or the highest rate allowed by law from the date of payment until the date of reimbursement. These sums
shall be included in the definition of Obligations herein and shall be secured by the beneficial interest granted herein. If the Obligations are paid after
the beginning of publication of notice of sale, as herein provided, or in the event Lender shall, at its sole option, permit Grantor to pay any part of the
Obligations after the beginning of publication of notice of sale, as herein provided, then, Grantor shall pay on demand all expenses incurred by the
Trustee and Lender in connection with said publication, including reasonable attorneys' fees to the attorneys for the Trustee and for the Lender, and a
reasonable fee to the Trustee, and this Deed of Trust shall be security for all such expenses and fees.
23. APPLICATION OF PAYMENTS. All payments made by or on behalf of Grantor may be applied against the amounts paid by Lender (including
attorneys' fees and legal expenses) in connection with the exercise of its rights or remedies described in this Deed of Trust and then to the payment
of the remaining Obligations in whatever order Lender chooses.
24. POWER OF ATTORNEY. Grantor hereby appoints Lender as its attorney-in-fact to endorse Grantor's name on all instruments and other
documents pertaining to the Obligations or Deed of Trust. In addition, Lender shall be entitled, but not required, to perform any action or execute
any document required to be taken or executed by Grantor under this Deed of Trust. Lender's performance of such action or execution of such
documents shall not relieve Grantor from any Obligation or cure any default under this Deed of Trust. All powers of attorney described in this Deed of
Trust are coupled with an interest and are irrevocable.
25. SUBROGATION OF LENDER. Lender shall be subrogated to the rights of the holder of any previous lien, security interest or encumbrance
discharged with funds advanced by Lender regardless of whether these liens, security interests or other encumbrances have been released of record.
26. COLLECTION COSTS. To the extent permitted by law, Grantor agrees to pay Lender's reasonable fees and costs, including, but not limited to,
fees and costs of attorneys and other agents (including without limitation paralegals, clerks and consultants), whether or not such attorney or agent is
an employee of Lender, which are incurred by Lender in collecting any amount due or enforcing any right or remedy under this Deed of Trust,
whether or not suit is brought, including, but not limited to, all fees and costs incurred on appeal, in bankruptcy, and for post -judgment collection
actions.
27. PARTIAL RELEASE. Lender may release its interest in a portion of the Property by executing and recording one or more partial releases without
affecting its interest In the remaining portion of the Property. Nothing herein shall be deemed to obligate Lender to release any of its interest in the
Property (except as required under Paragraph 36), nor shall Lender be obligated to release any part of the Property if Grantor is in default under this
Deed of Trust.
28. MODIFICATION AND WAIVER. The modification or waiver of any of Grantor's Obligations or Lender's rights under this Deed of Trust must be
contained in a writing signed by Lender. Lender may perform any of Borrower's or Grantor's Obligations, delay or fail to exercise any of its rights or
accept payments from Grantor or anyone other than Grantor without causing a waiver of those Obligations or rights. A waiver on one occasion shall
not constitute a waiver on any other occasion. Grantor's Obligations under this Deed of Trust shall not be affected if Lender amends, compromises,
exchanges, fails to exercise, impairs or releases any of the Obligations belonging to any Grantor, Borrower or third party or any of its rights against
any Grantor, Borrower or third party or any of the Property. Lender's failure to insist upon strict performance of any of the Obligations shall not be
deemed a waiver, and Lender shall have the right at any time thereafter to insist upon strict performance.
MAST536C 'r' FrnmAllon Technologies, Inc. (11/5/96) (800) 937-:1709 Page 3 nl r. /W
29. SUBSTITUTE TRUSTEE. In case of the death, inability, refusal to act or absence of the Trustee from the state where the Property is located or in
case the holder of the Obligations shall desire for any reason to remove the Trustee or any substitute trustee as trustee hereunder and to appoint a
new trustee in his place and stead, the holder of the Obligations is hereby granted full power to appoint in writing a substitute trustee for said Trustee,
and the substitute trustee shall, when appointed, become successor to all rights of Trustee hereunder and the same shall become vested in him for
the purposes and objects of this Deed of Trust with all the power, duties and obligations herein conferred on the Trustee.
30. SUCCESSORS AND ASSIGNS. This Deed of Trust shall be binding upon and inure to the benefit of Grantor and Lender and their respective
successors, assigns, trustees, receivers, administrators, personal representatives, legatees and devisees.
31. NOTICES. Except as otherwise required by law, any notice or other communication to be provided under this Deed of Trust shall be in writing
and sent to the parties at the addresses described In this Deed of Trust or such other address as the parties may designate in writing from time to
time. Any such notice so given and sent by first class mail, postage prepaid, shall be deemed given the earlier of three (3) days after such notice is
sent or when received by the person to whom such notice is being given.
32. SEVERABILITY. Whenever possible, each provision of this Deed of Trust shall be interpreted to be valid and enforceable under applicable state
law. If any provision of this Deed of Trust violates the law or Is unenforceable, the rest of this Deed of Trust shall continue to be valid and enforceable.
33. APPLICABLE LAW. This Deed of Trust shall be governed by the laws of the state where the Property is located. Unless applicable law provides
otherwise, Grantor consents to the jurisdiction and venue of any court selected by Lender, in its sole discretion, located in that state.
34. NO THIRD -PARTY RIGHTS. No person is or shall be a third -party beneficiary of any provision of this Deed of Trust. All provisions of this Deed of
Trust in favor of Lender are Intended solely for the benefit of Lender, and no third party shall be entitled to assume or expect that Lender will waive or
consent to the modification of any provision of this Deed of Trust, in Lender's sole discretion.
35. PRESERVATION OF LIABILITY AND PRIORITY. Without affecting the liability of Borrower, Grantor, or any guarantor of the Obligations, or any
other person (except a person expressly released in writing) for the payment and performance of the Obligations, and without affecting the rights of
Lender with respect to any Property not expressly released in writing, and without impairing in any way the priority of this Deed of Trust over the
interest of any person acquired or first evidenced by recording subsequent to the recording of this Deed of Trust, Lender may, either before or after
the maturity of the Obligations, and without notice or consent: release any person liable for payment or performance of all or any part of the
Obligations; make any agreement altering the terms of payment or performance of all or any part of the Obligations; exercise or refrain from
exercising or waive any right or remedy that Lender may have under this Deed of Trust; accept additional security of any kind for any of the
Obligations; or release or otherwise deal with any real or personal property securing the Obligations. Any person acquiring or recording evidence of
any interest of any nature in the Property shall be deemed, by acquiring such interest or recording any evidence thereof, to have consented to all or
any such actions by Lender.
36. DEFEASANCE. Upon the payment and performance in full of all of the Obligations, Lender will execute and deliver to Grantor those documents
that may be required to release this Deed of Trust of record. Grantor shall be responsible to pay any costs of recordation.
37. MISCELLANEOUS. Grantor and Lender agree that time is of the essence. Grantor waives presentment, demand for payment, notice of
dishonor and protest except as required by law. All references to Grantor in this Deed of Trust shall include all persons signing below. If there is
more than one Grantor, their Obligations shall be joint and several. This Deed of Trust represents the complete integrated understanding between
Grantor and Lender pertaining to the terms and conditions hereof.
38. JURY TRIAL WAIVER. LENDER AND GRANTOR HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY CIVIL ACTION ARISING OUT OF,
OR BASED UPON, THIS DEED OF TRUST.
39. ADDITIONAL TERMS.
Grantor acknowledges that Grantor has read, understands, and agrees to the terms and conditions of this Deed of Trust, and acknowledges receipt of
an exact copy of same.
Dated this 9TH day of SEPTEMBER, 1999 T.
GRANTOR: CHERW LAN ECR N, INC.
11111�;Ilw, , ", - - __,
WALLACE LOVAN, PRESKDAT
GRANTOR:
GRANTOR:
GRANTOR:
GRANTOR:
GRANTOR:
GRANTOR:
GRANTOR:
MAST5360 0 FormAtlon Technologies, Inc. (11/5/96) (6001 937-3799 Page 4 of 6
ACKNOWLEDGMENTS
Slate of Idaho )
ss.
County of )
The foregoing instrument was acknowledged before n1e this day of
19_ by
as _ of%for
Witness my hand and official seal.
Notary Public:
My commission expires:
Residing:_
ACKNOWLEDGMENTS
Slate of Idaho )
ss.
County of )
The foregoing instrument was acknowledged befure ule this day of
19_ by
as --
Witness my hand and official seal.
Notary Public:
My commission expires:
Residing:
ACKNOWLLDGMENTS
Slate of Idaho )
ss.
Counly of )
The furegoing instrurlleul was acknowledged before nle this day of
19_ by
as orrl,lr -----= -
Witness my hand and official seal. - -- -- --
Notary Public:
My commission expires:
Residing:
UT033611 volam if. 11"I"d Co. (521191) (R00) 911-3799
page 5 016
IDDTill 0
AGREEMENT OF LEASE DATED THE 3RD DAY OF OCTOBER, 1978 BY AND BETWEEN THE CITY OF MERIDIAN,
A MUNICIPAL CORPORATION OF THE STATE OF IDAHO AS LESSOR, AND CHERRY LANE RECREATION, INC.,
AN IDAHO CORPORATION, AS LESSEE.
>:2:<:sCinr9Mj
The following described real property located in the County of ADA, State of IDAHO:
SEE ATTACHMENT "A" FOR LEGAL DESCRIPTION
SCTICI lffl
ACCEPTANCE OF LESSOR
This acceptance is executed [Ilia gill DAY OF SEPTEMBER, 1999 by Ilse undersigned as Lessor under the
Lease described on Schedule A.
1. Lessor agrees and consents to Grantor's grant and assignment to Lender under this Deed of Trost of Grantor's Interest as tenant under the
Lease. Lessor represents Ilial the Lease *Ill currently valid and enforceable according to its terns and Ibat Grantor Is not presently in default tinder
the Lease. Lessor fiulher represents that it is the owner of the leased premises and has fill[ power and aulhority to enter into this Agreement.
2. Lessor agrees Ilial during the tern of this Deed of Trust, no modifications to or Icrminalion of the Lease will be underiaken without first
obtaining the written consent of Lender.
3. In the event of Grantor's default under the Lease, Lessor agrees to notify Lender of such default in writing al least aixly (60) days prior to
taking action to enforce any of Lessor's righls under the Lease. During Ibis sixty-day period, Lender shall have the option to cure the default or
take such other action as may be necessary to protect Lender's security interest in the Lease and any Challela of Grantor under this Decd of Trual
or any olher agreement between Grantor and Lender.
4. Lessor agrees to subordinate any lien it may have or subsequently acquire upon any Chattels of Grantor whielu may be subject to any
security Interest of Lender until such lime as this Deed of Trust Is terminated.
5. Lessor acknowledges Ihal it has and will benefit es a result of Ilue financial accommodations extended to Grantor by Lender and lhal Lender
will rely on the acceptance.
LP.SSOR: CITY OF MERIDIAN LPSSOR: CITY OF MERIDIAN
MAYOR ATTESTED BY:
THIS DOC1UB1GNT WAS PREPARED IIY: IDAHO INDEPENDENT I3ANK CITY CLERK
ANTER RECORDING RETURN TO LENDER AT ITS ADDRESS DESCRIBED ABOVE.
IPCO336P 0 John II.11111A t Co. (3/24M) (600) 937.3799
Puy. a of a
PARCEL I
A PARCEL OF LAND BEING A PORTION OF
NORTH, RANGE 1 WEST, BOISE MERIDIAN,
PARTICULARLY DESCRIBED AS FOLLOWS:
ATTACHMENT "A"
THE WEST -HALF, SECTION 3, TOWNSHIP 3
MERIDIAN, ADA COUNTY, IDAHO AND MORE
BEGINNING AT A BRASS CAP MARKING THE SOUTHEAST CORNER OF THE NORTHEAST
QUARTER OF SECTION 3, TOWNSHIP 3 NORTH, RANGE 1 WEST, BOISE MERIDIAN,
MERIDIAN, ADA COUNTY, IDAHO; THENCE
ALONG THE SOUTHERLY BOUNDARY OF SAID NORTHEAST QUARTER OF SECTION 3, NORTH
88 DEGREES 55'29" WEST 2643.29 FEET TO A BRASS CAP MARKING THE SOUTHWEST
CORNER OF THE NORTHEAST QUARTER/ THENCE
LEAVING SAID SOUTHERLY BOUNDARY NORTH 75 DEGREES 30'00" WEST 190.00 FEET TO
A 2" IRON PIPE; THENCE
NORTH 40 DEGREES 00'00" WEST 40.00 FEET TO AN IRON PIN; THENCE
SOUTH 75 DEGREES 59'31" WEST 70.00 FEET TO AN IRON PIN; THENCE
SOUTH 25 DEGREES 00'00" WEST 64.19 FEET TO AN IRON PIN; THENCE
NORTH 89 DEGREES 25'06" WEST 254.51 FEET TO A POINT, SAID POINT ALSO BEING
THE REAL POINT OF BEGINNING; THENCE CONTINUING
NORTH 89 DEGREES 25'06" EST 100.01 FEET TO A POINT; THENCE
SOUTH 00 DEGREES 30'11" WEST 407.92 FEET TO A POINT; THENCE
SOUTH 68 DEGREES 54'11" EAST 276.46 FEET TO A POINT MARKING A POINT OF
CURVE; THENCE
ALONG A CURVE TO THE RIGHT 59.46 FEET, SAID CURVE HAVING A CENTRAL ANGLE OF
34 DEGREES 04'10", A RADIUS OF 100.00 FEET, TANGENTS OF 30.64 FEET AND A
LONG CHORD OF 58.59 FEET BEARING SOUTH 51 DEGREES 52'06" EAST TO A POINT
MARKING A POINT OF TANGENTS; THENCE
SOUTH 34 DEGREES 50'01" EAST 292.99 FEET TO A POINT; THENCE
SOUTH 89 DEGREES 48'41" EAST 147.34 FEET TO A POINT; THENCE
NORTH 35 DEGREES 00'00" WEST 109.03 FEET TO A POINT; THENCE
NORTH 51 DEGREES 45'00" WEST 580.00 FEET TO A POINT; THENCE
NORTH 00 DEGREE 29'44" EAST 335.18 FEET TO THE POINT OF BEGINNING.
PARCEL II
A PARCEL OF LAND LYING IN PORTIONS OF THE SOUTH HALF OF THE NORTH HALF AND
THE NORTH HALF OF THE SOUTH HALF OF SECTION 3, TOWNSHIP 3 NORTH, RANGE 1
WEST, BOISE MERIDIAN, MERIDIAN, ADA COUNTY, IDAHO AND MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT MARKING THE NORTHWEST CORNER OF THE SAID NORTH HALF OF
THE SOUTH HALF OF SECTION 3; THENCE
SOUTH 89 DEGREES 25'06" EAST 2,077.73 FEET ALONG THE NORTHERLY BOUNDARY OF
THE SAID NORTH HALF OF THE SOUTH HALF OF SECTION 3 TO A POINT, ALSO SAID
POINT BEING THE REAL POINT OF BEGINNING; THENCE
SOUTH 0 DEGREE 29'44" WEST 335.18 FEET TO A POINT; THENCE
SOUTH 51 DEGREES 45'00" EAST 580.00 FEET TO A POINT; THENCE
SOUTH 35 DEGREES 00'00" EAST 285.33 FEET TO A POINT; THENCE
SOUTH 22 DEGREES 15'00" WEST 60.05 FEET TO A POINT; THENCE
SOUTH 43 DEGREES 58'10" EAST 238.75 FEET TO A POINT; THENCE
SOUTH 29 DEGREES 00'00" EAST 110.00 FEET TO A POINT; THENCE
NORTH 61 DEGREES 00'00" EAST 81.19 FEET TO A POINT OF CURVE; THENCE
NORTHEASTERLY ALONG A CURVE TO THE LEFT 147.14 FEET, SAID CURVE HAVING A
CENTRAL ANGLE OF 48 DEGREES 10'28", A RADIUS OF 175.00 FEET, TANGENTS OF
78.23 FEET AND A LONG CHORD OF 142.84 FEET BEARING NORTH 36 DEGREES 54'46"
EAST TO A POINT OF ENDING OF CURVE; THENCE
NORTH 56 DEGREES 30'00" WEST 151.38 FEET TO A POINT; THENCE
NORTH 41 DEGREES 30'00" WEST 203.92 FEET TO A POINT; THENCE
NORTH 17 DEGREES 15'00" WEST 94.14 FEET TO A POINT; THENCE
NORTH 22 DEGREES 15'00" EAST 147.00 FEET TO A POINT; THENCE
NORTH 65 DEGREES 50'00" EAST 45.00 FEET TO A POINT; THENCE
SOUTH 87 DEGREES 20'00" EAST 78.40 FEET TO A POINT; THENCE
SOUTH 68 DEGREES 00'00" EAST 61.48 FEET TO A POINT; THENCE
SOUTH 71 DEGREES 33'25" EAST 88.05 FEET TO A POINT; THENCE
SOUTH 60 DEGREES 00'00" EAST 108.33 FEET TO A POINT OF BEGINNING OF CURVE;
THENCE
NORTHEASTERLY ALONG A CURVE TO THE RIGHT 139.32 FEET, SAID CURVE HAVING A
CENTRAL ANGLE OF 25 DEGREES 35'19", A RADIUS OF 311.95 FEET, TANGENTS OF
70.84 FEET AND ALONG CHORD OF 138.16 FEET BEARING NORTH 56 DEGREES 12'20"
EAST TO A POINT OF TANGENT; THENCE
NORTH 69 DEGREES 00'00" EAST 115.08 FEET TO A POINT OF CURVE; THENCE
NORTHEASTERLY ALONG A CURVE TO THE LEFT 125.75 FEET, SAID CURVE HAVING A
CENTRAL ANGLE OF 24 DEGREES 25'22", A RADIUS OF 295.00 FEET, TANGENTS OF
63.84 FEET AND A LONG CHORD OF 124.80 FEET BEARING NORTH 56 DEGREES 47'19"
EAST TO A POINT OF ENDING OF CURVE; THENCE
NORTH 44 DEGREES 00'00" WEST 79.63 FEET TO A POINT; THENCE
NORTH 67 DEGREES 45'00" WEST 160.00 FEET TO A POINT; THENCE
SOUTH 65 DEGREES 50'00" WEST 244.67 FEET TO A POINT; THENCE
NORTH 50 DEGREES 30'00" WEST 114.35 FEET TO A POINT; THENCE
NORTH 44 DEGREES 00'00" EAST 90.00 FEET TO A POINT; THENCE
NORTH 17 DEGREES 00'00" WEST 175.00 FEET TO A POINT; THENCE
NORTH 12 DEGREES 00'00" EAST 280.00 FEET TO A POINT; THENCE
NORTH 77 DEGREES 30'00" WEST 170.00 FEET TO A POINT; THENCE
SOUTH 68 DEGREES 00'00" WEST 265.00 FEET TO A POINT MARKING THE NORTHEAST
CORNER OF THE SOUTHWEST QUARTER OF THE SAID SECTION 3; THENCE
NORTH 75 DEGREES 30'00" WEST 190.00 FEET TO A POINT; THENCE
NORTH 40 DEGREES 00'00" WEST 40.00 FEET TO A POINT; THENCE
SOUTH 75 DEGREES 59'31" WEST 70.00 FEET TO A POINT; THENCE
SOUTH 25 DEGREES 00'00" WEST 64.19 FEET TO A POINT ON THE SAID NORTHERLY
BOUNDARY OF THE NORTH HALF OF THE SOUTH HALF OF SECTION 3; THENCE
NORTH 89 DEGREES 25'06" WEST 254.51 FEET ALONG THE SAID NORTHERLY BOUNDARY
OF THE NORTH HALF OF THE SOUTH HALF OF SECTION 3 TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION CONTINUED l INITIALS
ATTACHMENT "A"
EXCEPT THAT PORTION LYING WITHIN THE FOLLOWING SUBDIVISIONS:
CHERRY LANE VILLAGE NO. 1 SUBDIVISION, ACCORDING TO THE PLAT THEREOF,
FILED IPJ BOOK 44 OF PLATS AT PAGES 3537 AND 3538, RECORDS OF ADA COUNTY,
IDAHO;
CHERRY LANE VILLAGE NO. 2 SUBDIVISION, ACCORDING TO THE PLAT THEREOF,
FILED IN BOOK 46 OF PLATS AT PAGES 3791 AND 3792, RECORDS OF ADA COUNTY,
IDAHO;
THE LAKE AT CHERRY LANE, ACCORDING TO THE PLAT THEREOF FILED IN BOOK 52 OF
PLATS AT PAGES 4569 AND 4570, RECORDS OF ADA COUNTY, IDAHO;
THE LAKE AT CHERRY LANE NO. 2, ACCORDING TO THE PLAT THEREOF FILED IN BOOK
54 OF PLATS AT PAGES 4882 AND 4883, RECORDS OF ADA COUNTY, IDAHO;
THE LAKE AT CHERRY LANE NO. 4 SUBDIVISION, ACCORDING TO THE PLAT THEREOF,
FILED IN BOOK 74 OF PLATS AT PAGES 7674 AND 7675, RECORDS OF ADA COUNTY,
IDAHO.
PARCEL III -A
A PORTION OF THE WEST HALF OF SECTION 3, TOWNSHIP 3 NORTH, RANGE 1 WEST,
BOISE MERIDIAN, MERIDIAN, ADA COUNTY, IDAHO, MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
COMMENCING AT THE CORNER COMMON TO SECTIONS 4, 9, 10 AND THE SAID SECTION
3; THENCE
NORTH 0 DEGREE 38'11" EAST 2651.19 FEET TO THE QUARTER CORNER COMMON TO
SAID SECTIONS 3 AND 4 AS SAME WAY REESTABLISHED BY LS 972 (CP & F
INSTRUMENT NO. 7852146, RECORDS OF ADA COUNTY, IDAHO); FROM WHICH THE
NORTHWEST CORNER OF SAID SECTION 3 BEARS
NORTH 0 DEGREE 38'27" EAST 2697.49 FEET; THENCE
NORTH 0 DEGREE 38'27" EAST 22.64 FEET TO A 5/8" IRON PIN; THENCE
SOUTH 88 DEGREES 55'31" EAST 379.53 FEET TO THE REAL POINT OF BEGINNING;
THENCE CONTINUING
SOUTH 88 DEGREES 55'31" EAST 182.65 FEET TO A POINT; THENCE
SOUTH 8 DEGREES 18'10" EAST 440.66 FEET TO A POINT; THENCE
SOUTH 16 DEGREES 18'25" WEST 218.04 FEET TO A POINT; THENCE
NORTH 89 DEGREES 13'51" EAST 540.22 FEET TO A POINT; THENCE
NORTH 71 DEGREES 43'34" EAST 442.46 FEET TO A POINT; THENCE
NORTH 10 DEGREES 33'50" EAST 487.84 FEET TO A POINT; THENCE
SOUTH 88 DEGREES 55'31" EAST 124.84 FEET TO A POINT; THENCE
SOUTH 50 DEGREES 38'25" EAST 89.99 FEET TO A POINT; THENCE 165.33 FEET
ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A RADIUS OF 250.25 FEET, A
CENTRAL ANGLE OF 37 DEGREES 51'08", AND A LONG CHORD BEARING SOUTH 31
DEGREES 42'52" EAST 162.34 FEET TO A POINT; THENCE
NORTH 89 DEGREES 29'44" WEST 120.24 FEET TO A POINT; THENCE
SOUTH 4 DEGREE 27'17" EAST 80.30 FEET TO A POINT; THENCE
SOUTH 0 DEGREE 30'16" WEST 230.52 FEET TO A POINT; THENCE
SOUTH 10 DEGREES 31'20" WEST 123.51 FEET TO A POINT; THENCE
SOUTH 30 DEGREES 14'07" WEST 119.57 FEET TO A POINT; THENCE
SOUTH 50 DEGREES 50'29" WEST 134.39 FEET TO A POINT; THENCE
SOUTH 71 DEGREES 28'48" WEST 120.64 FEET TO A POINT; THENCE
SOUTH 82 DEGREES 45'52" WEST 225.84 FEET TO A POINT; THENCE
SOUTH 89 DEGREES 02'57" WEST 67.30 FEET TO A POINT; THENCE
NORTH 89 DEGREES 10'41" WEST 825.06 FEET TO A POINT; THENCE
NORTH 77 DEGREES 29'20" WEST 148.07 FEET TO A POINT; THENCE
NORTH 89 DEGREES 10'41" WEST 160.40 FEET TO A POINT LYING 65.00 FEET EAST
OF THE WEST BOUNDARY OF SAID SECTION 3; THENCE ALONG A LINE 65.00 FEET
EAST OF AND PARALLEL TO THE WEST BOUNDARY OF SAID SECTION 3
NORTH 0 DEGREES 38'11" EAST 247.64 FEET TO A POINT; THENCE
SOUTH 89 DEGREES 21'49" EAST 156.03 FEET TO A POINT; THENCE
NORTH 45 DEGREES 03'16" EAST 163.61 FEET TO A POINT; THENCE
NORTH 5 DEGREES 39'31" EAST 502.42 FEET TO THE POINT OF BEGINNING.
PARCEL III•B
A PORTION OF THE WEST HALF OF SECTION 3, TOWNSHIP 3 NORTH, RANGE 1 WEST,
BOISE MERIDIAN, MERIDIAN, ADA COUNTY, IDAHO, MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
COMMENCING AT THE CORNER COMMON TO SECTIONS 4, 9, 10 AND THE SAID SECTION
3; THENCE
NORTH 0 DEGREE 38'11" EAST 2651.19 FEET TO THE QUARTER CORNER COMMON TO
SAID SECTIONS 3 AND 4 AS SAME WAS REESTABLISHED BY LS 972 (CP & F
INSTRUMENT NO. 7852146, RECORDS OF ADA COUNTY, IDAHO); FORM WHICH THE
NORTHWEST CORNER OF SAID SECTION 3 BEARS
NORTH 0 DEGREE 38'27" EAST 2697.49 FEET; THENCE
NORTH 0 DEGREE 38'27" EAST 22.64 FEET TO A 5/8" IRON PIN; THENCE
SOUTH 88 DEGREES 56'31" EAST 1977.72 FEET TO A 5/8" IRON PIN AND THE REAL
POINT OF BEGINNING; THENCE
SOUTH 0 DEGREE 30'15" WEST 413.59 FEET TO A POINT; THENCE
NORTH 68 DEGREES 54'11" WEST 26.71 FEET TO A POINT; THENCE
NORTH 68 DEGREES 54'11" WEST 26.71 FEET TO A POINT; THENCE
NORTH 0 DEGREE 30'15" EAST 217.93 FEET TO A POINT; THENCE 211.88 FEET
ALONG T14E ARC OF A CURVE TO THE LEFT, HAVING A RADIUS OF 249.75 FEET, A
CENTRAL ANGLE OF 48 DEGREES 36'25" AND A LONG CHORD BEARING NORTH 23
DEGREES 47'57" WEST 205.58 FEET TO A POINT; THENCE
SOUTH 88 DEGREES 55'31" EAST 109.62 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION CONTINUED INITIALS
ATTACHMENT "A"
PARCEL IV -A
A PORTION OF SOUTHWEST QUARTER OF THE NORTHWEST QUARTER OF SECTION 3,
TOWNSHIP 3 NORTH, RANGE 1 WEST, BOISE MERIDIAN, MERIDIAN, ADA COUNTY,
IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE CORNER COMMON TO SECTIONS 4, 9, 10 AND THE SAID SECTION
3; THENCE
NORTH 0 DEGREE 38'11" EAST, 2651.19 FEET TO THE QUARTER CORNER COMMON TO
SAID SECTION 3 AND 4 AS SAME WAS REESTABLISHED BY LS 972 (CP & F INSTRUMENT
NO. 7852146, RECORDS OF ADA COUNTY, IDAHO); FROM WHICH THE NORTHWEST
CORNER OF SAID SECTION 3 BEARS NORTH 0 DEGREE 38'27" EAST, 2697.49 FEET;
THENCE
NORTH 0 DEGREE 38'27" EAST 22.64 FEET TO A 5/6" IRON PIN; THENCE
SOUTH 88 DEGREES 55'31" EAST, 379.53 FEET TO THE REAL POINT OF BEGINNING;
THENCE
NORTH 5 DEGREE 39'31" EAST, 290.28 FEET TO A POINT; THENCE
46.45 FEET ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT, HAVING A
RADIUS OF 250.00 FEET, A CENTRAL ANGLE OF 10 DEGREES 38'46", AND A LONG
CHORD BEARING SOUTH 49 DEGREES 22'43" EAST, 46.39 FEET TO A POINT; THENCE
SOUTH 44 DEGREES 03'20" EAST, 136.41 FEET TO A POINT; THENCE
SOUTH 8 DEGREES 18'10" EAST, 165.80 FEET TO A POINT; THENCE
NORTH 88 DEGREES 55'31" WEST, 182.65 FEET TO THE POINT OF BEGINNING.
PARCEL IV -8
A PORTION OF GOVERNMENT LOT 4 AND THE SOUTHWEST QUARTER OF THE NORTHWEST
QUARTER OF SECTION 3, TOWNSHIP 3 NORTH, RANGE 1 WEST, BOISE MERIDIAN,
MERIDIAN. ADA COUNTY, IDAHO MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE CORNER COMMON TO SECTIONS 4, 9, 10 AND THE SAID SECTION
3; THENCE
NORTH 0 DEGREE 38'11" EAST, 2651.19 FEET TO THE QUARTER CORNER COMMON TO
SAID SECTION 3 AND 4 AS SAME WAS REESTABLISHED BY LS 972 (CP & F INSTRUMENT
NO. 7852146, RECORDS OF ADA COUNTY, IDAHO); FROM WHICH THE NORTHWEST
CORNER OF SAID SECTION 3 BEARS NORTH 0 DEGREE 38'27" EAST, 2697.49 FEET;
THENCE
NORTH 0 DEGREE 38'27" EAST 22.64 FEET TO A 5/8" IRON PIN; THENCE
SOUTH 88 DEGREES 55'31" EAST, 834.71 FEET TO A POINT; THENCE
NORTH 1 DEGREE 04'29" EAST, 77.45 FEET TO THE REAL POINT OF BEGINNING;
THENCE
199.31 FEET ALONG THE ARC OF CURVE TO THE RIGHT HAVING A RADIUS OF 270.00
FEET, A CENTRAL ANGLE OF 42 DEGREES 17'41" AND A LONG CHORD BEARING NORTH
65 DEGREES 12'11" WEST, 194.81 FEET TO A POINT; THENCE
NORTH 44 DEGREES 03"20" WEST, 198.06 FEET TO A POINT; THENCE
NORTH 37 DEGREE 38"05" EAST, 125.90 FEET TO A POINT; THENCE
NORTH 4 DEGREES 26'20" WEST, 178.94 FEET TO A POINT; THENCE
NORTH 49 DEGREES 13'43" WEST, 619.18 FEET TO A POINT; THENCE
NORTH 89 DEGREES 21'33" WEST, 39.72 FEET TO A POINT; THENCE
NORTH 0 DEGREE 38'27" EAST, 178.61 FEET TO A POINT; THENCE
SOUTH 89 DEGREES 21'33" EAST, 104.94 FEET TO A POINT; THENCE
NORTH 26 DEGREES 46'55" EAST, 463.73 FEET TO A POINT; THENCE
NORTH 13 DEGREES 05'08" EAST, 186.18 FEET TO A POINT; THENCE
SOUTH 89 DEGREES 23'04" EAST, 221.37 FEET TO A POINT; THENCE
SOUTH 0 DEGREE 36'56" WEST, 30.00 FEET TO A POINT; THENCE
NORTH 89 DEGREES 23'04" WEST, 114.43 FEET TO A POINT; THENCE
SOUTH 10 DEGREES 38'11" WEST, 162.48 FEET TO A POINT; THENCE
SOUTH 5 DEGREES 36'09" EAST, 160.95 FEET TO A POINT; THENCE
SOUTH 48 DEGREES 58'55" WEST, 66.41 FEET TO A POINT; THENCE
SOUTH 10 DEGREES 49'04" WEST, 123.62 FEET TO A POINT; THENCE
SOUTH 12 DEGREES 00'00" EAST, 85.00 FEET TO A POINT; THENCE
SOUTH 53 DEGREES 26'21" EAST, 142.60 FEET TO A POINT; THENCE
SOUTH 6 DEGREES 51'51" WEST, 151.05 FEET TO A POINT; THENCE
SOUTH 41 DEGREES 14'14" EAST, 171.06 FEET TO A POINT; THENCE
SOUTH 89 DEGREES 12'26" EAST, 122.33 FEET TO A POINT; THENCE
SOUTH 43 DEGREES 03'05" EAST, 60.00 FEET TO A POINT; THENCE
SOUTH 0 DEGREE 36'15" WEST, 671.50 FEET TO THE POINT OF BEGINNING.
PARCEL IV -C
A PORTION OF THE NORTHWEST QUARTER OF SECTION 3, TOWNSHIP 3 NORTH, RANGE 1
WEST, BOISE MERIDIAN, MERIDIAN, ADA COUNTY, IDAHO, MORE PARTICULARLY
DESCRIBED AS FOLLOWS: COMMENCING AT THE CORNER COMMON TO SECTIONS 4, 9, 10
AND THE SAID SECTION 3; THENCE
NORTH 0 DEGREE 38'11" EAST, 2651.19 FEET TO THE QUARTER CORNER COMMON TO
SAID SECTIONS 3 AND 4 AS SAME WAS REESTABLISHED BY LS 972 (CP & F
INSTRUMENT NO. 7852146, RECORDS OF ADA COUNTY, IDAHO); FROM WHICH THE
NORTHWEST CORNER OF SAID SECTION 3 BEARS NORTH 0 DEGREE 38'27" EAST,
2697.49 FEET; THENCE
NORTH 0 DEGREE 38'27" EAST 22.64 FEET TO A 5/8" IRON PIN; THENCE
SOUTH 88 DEGREES 55'31" EAT, 1784.61 FEET TO A POINT; THENCE
NORTH 1 DEGREE 04'29" EAST, 303.15 FEET TO THE REAL POINT OF BEGINNING;
THENCE
LEGAL DESCRIPTION CONTINUED INITIALS
ATTACHMENT "A"
NORTH 66 DEGREES 28'40" WEST, 157.70 FEET TO A POINT; THENCE
NORTH 56 DEGREES 56'39" WEST, 717.37 FEET TO A POINT; THENCE
NORTH 89 DEGREES 23'44" WEST, 36.12 FEET TO A POINT; THENCE
NORTH 0 DEGREE 36'28" EAST, 5.00 FEET TO A POINT; THENCE
154.59 FEET ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT, HAVING A
RADIUS OF 225.00 FEET, A CENTRAL ANGLE OF 39 DEGREES 22'00", AND A LONG
CHORD BEARING NORTH 19 DEGREES 04'45" WEST, 151.57 FEET TO A POINT; THENCE
NORTH 38 DEGREES 45'45" WEST, 39.00 FEET TO A POINT; THENCE
NORTH 51 DEGREES 14'15" EAST, 110.00 FEET TO A POINT; THENCE
NORTH 26 DEGREES 11'31" WEST, 134.78 FEET TO A POINT; THENCE
NORTH 4 DEGREES 04'20" WEST, 277.45 FEET TO A POINT; THENCE
NORTH 31 DEGREES 46'35" WEST, 241.56 FEET TO A POINT; THENCE
NORTH 0 DEGREE 36'56" EAST, 132.59 FEET TO A POINT; THENCE
NORTH 89 DEGREES 23'04" WEST, 110.00 FEET TO A POINT; THENCE
NORTH 0 DEGREE 36'56" EAST, 30.00 FEET TO A POINT; THENCE
SOUTH 89 DEGREES 23'04" EAST, 175.94 FEET TO A POINT; THENCE
SOUTH 78 DEGREES 05'29" EAST, 71.13 FEET TO A POINT; THENCE
SOUTH 63 DEGREES 13'16" EAST, 65.34 FEET TO A POINT; THENCE
SOUTH 56 DEGREES 28'32" EAST, 79.07 FEET TO A POINT; THENCE
SOUTH 53 DEGREES 15'09" EAST, 86.07 FEET TO A POINT; THENCE
SOUTH 42 DEGREES 31'18" EAST, 70.53 FEET TO A POINT; THENCE
SOUTH 35 DEGREES 28'22" EAST, 77.08 FEET TO A POINT; THENCE
SOUTH 5 DEGREES 49'06" EAST, 249.89 FEET TO A POINT; THENCE
SOUTH 8 DEGREES 16'07" EAST, 125.42 FEET TO A POINT; THENCE
SOUTH 13 DEGREES 56'20" EAST, 266.06 FEET TO A POINT; THENCE
SOUTH 42 DEGREES 43'29" EAST, 283.07 FEET TO A POINT; THENCE
NORTH 61 DEGREES 49'13" EAST, 165.37 FEET TO A POINT; THENCE
NORTH 11 DEGREES 00'42" WEST, 399.24 FEET TO A POINT; THENCE
SOUTH 89 DEGREES 18'49" EAST, 398.40 FEET TO A POINT; THENCE
SOUTH 79 DEGREES 02'15" EAST, 61.16 FEET TO A POINT; THENCE
SOUTH 60 DEGREES 40'15" EAST, 164.39 FEET TO A POINT; THENCE
SOUTH 85 DEGREES 10'18" EAST, 136.30 FEET TO A POINT; THENCE
SOUTH 0 DEGREE 30'15" WEST, 235.93 FEET TO A POINT; THENCE
NORTH 89 DEGREES 29'45" WEST, 80.00 FEET TO A POINT; THENCE
SOUTH 78 DEGREES 33'49" WEST, 182.71 FEET TO A POINT; THENCE
SOUTH 11 DEGREES 45'15" WEST, 185.77 FEET TO A POINT; THENCE
SOUTH 0 DEGREE 30'15" WEST, 154.10 FEET TO A POINT; THENCE
288.86 FEET ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT, HAVING A
RADIUS OF 425.00 FEET, A CENTRAL ANGLE OF 38 DEGREES 56'31", AND A LONG
CHORD BEARING SOUTH 63 DEGREES 04'11" WEST, 283.33 FEET TO THE POINT OF
BEGINNING.
PARCEL IV -D
A PORTION OF THE SOUTHEAST QUARTER OF THE NORTHWEST QUARTER OF SECTION 3,
TOWNSHIP 3 NORTH, RANGE 1 WEST, BOISE MERIDIAN, MERIDIAN, ADA COUNTY,
IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE CORNER COMMON TO SECTIONS 4, 9, 10 AND THE SAID SECTION
3; THENCE.
NORTH 0 DEGREE 38'11" EAST, 2651.19 FEET TO THE QUARTER CORNER COMMON TO
SAID SECTIONS 3 AND 4 AS SAME WAS REESTABLISHED BY LS 972 (CP & F
INSTRUMENT NO. 7852146, RECORDS OF ADA COUNTY, IDAHO); FROM WHICH THE
NORTHWEST CORNER OF SAID SECTION 3 BEARS NORTH 0 DEGREE 38'27" EAST,
2697.49 FEET; THENCE
NORTH 0 DEGREE 38'27" EAST 22.64 FEET TO A 5/8" IRON PIN; THENCE
SOUTH 88 DEGREES 55'31" EAST, 1614.53 FEET TO THE REAL POINT OF BEGINNING;
THENCE
NORTH 10 DEGREES 33'50" EAST, 72.37 FEET TO A POINT; THENCE
129.52 FEET ALONG THE ARC OF A NON -TANGENT CURVE TO THE RIGHT, HAVING A
RADIUS OF 600.00 FEET, A CENTRAL ANGLE OF 12 DEGREES 22'07", AND A LONG
CHORD BEARING SOUTH 56 DEGREES 49'29" EAST, 129.27 FEET TO A POINT; THENCE
SOUTH 50 DEGREES 38'25" EAST, 4.33 FEET TO A POINT; THENCE
NORTH 88 DEGREES 55'31" WEST, 124.84 FEET TO THE POINT OF BEGINNING.
PARCEL IV -E
A PORTION OF THE SOUTHEAST QUARTER OF THE NORTHWEST QUARTER OF SECTION 3,
TOWNSHIP 3 NORTH, RANGE 1 WEST, BOISE MERIDIAN, MERIDIAN, ADA COUNTY,
IDAHO, MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE CORNER COMMON TO SECTIONS 4, 9, 10 AND THE SAID SECTION
3; THENCE
NORTH 0 DEGREE 38'11: EAST, 2651.19 FEET TO THE QUARTER CORNER COMMON TO
SAID SECTIONS 3 AND 4 AS SAME WAS REESTABLISHED BY LS 972 (CP & F
INSTRUMENT NO. 7852146, RECORDS OF ADA COUNTY, IDAHO); FROM WHICH THE
NORTHWEST CORNER OF SAID SECTION 3 BEARS NORTH 0 DEGREE 38'27" EAST,
2697.49 FEET; THENCE
NORTH 0 DEGREE 38'27" EAST 22.64 FEET TO A 5/8" IRON PIN; THENCE
SOUTH 88 DEGREES 55'31" EAST, 1977.72 FEET TO A 5/8".IRON PIN AND THE REAL
POINT OF BEGINNING; THENCE
NORTH 88 DEGREES 55'31" WEST, 109.62 FEET TO A POINT; THENCE
11.06 FEET ALONG THE ARC OF A NON -TANGENT CURVE TO THE LEFT, HAVING A
RADIUS OF 249.75 FEET, A CENTRAL ANGLE OF 2 DEGREES 32'16", AND A LONG
CHORD BEARING NORTH 49 DEGREES 22'17" WEST, 11.06 FEET TO A POINT; THENCE
NORTH 50 DEGREES 38'25" WEST, 94.32 FEET TO A POINT; THENCE
60.45 FEET ALONG THE ARC OF A CURVE TO THE LEFT, HAVING A RADIUS OF 680.00
FEET, A CENTRAL ANGLE OF 5 DEGREES 05'36", AND A LONG CHORD BEARING NORTH
53 DEGREES 11'13" WEST, 60.43 FEET TO A POINT; THENCE
30.13 FEET ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A RADIUS OF 20.00
FEET, A CENTRAL ANGLE OF 86 DEGREES 18'50", AND A LONG CHORD BEARING NORTH
12 DEGREES 34'36" WEST, 27.36 FEET TO A POINT; THENCE
NORTH 30 DEGREES 34'50" EAST, 84.13 FEET TO A POINT; THENCE
269.77 FEET ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A RADIUS OF
375.00 FEET, A CENTRAL ANGLE OF 41 DEGREES 13'04", AND A LONG CHORD BEARING
NORTH 51 DEGREES 11'21" EAST, 263.99 FEET TO A POINT; THENCE
SOUTH 0 DEGREE 30'15" WEST, 369.89 FEET TO THE POINT OF BEGINNING.
LEGAL DESCRIPTION CONTINUED INITIALS
ATTACHMENT "A"
PARCEL V
LOTS 1 AND 52 IN BLOCK 5, AND LOT 11 IN BLOCK 9 OF CHERRY LANE VILLAGE NO.
1 SUBDIVISION, ACCORDING TO THE PLAT THEREOF FILED IN BOOK 44 OF PLATS AT
PAGES 3537 THRU 3538, RECORDS OF ADA COUNTY, IDAHO.
PARCEL VI
LOTS 12 AND 21 IN BLOCK 9 AND LOT 4 IN BLOCK 11 AND LOT 53 IN BLOCK 5 OF
CHERRY LANE VILLAGE NO. 2 SUBDIVISION, ACCORDING TO THE PLAT THEREOF,
FILED IN BOOK 46 OF PLATS AT PAGES 3791 AND 3792, RECORDS OF ADA COUNTY,
IDAHO.
PARCEL VII
LOT 83 IN BLOCK 5 AND LOT 14, IN BLOCK 13 CHERRY LANE VILLAGE NO. 3
SUBDIVISION ACCORDING TO THE OFFICIAL PLAT THEREOF FILED IN BOOK 58 OF
PLATS AT PAGES 5473 THRU 5475, RECORDS OF ADA COUNTY, IDAHO.
PARCEL VIII
LOT 28 IN BLOCK 11 AND LOT 39 IN BLOCK 13 CHERRY LANE VILLAGE NO. 4
SUBDIVISION ACCORDING TO THE OFFICIAL PLAT THEREOF FILED IN BOOK 63 OF
PLATS AT PAGES 6376 AND 6377, RECORDS OF ADA COUNTY, IDAHO.
PARCEL IX
LOT 9 IN BLOCK 1 OF RECORD OF SURVEY NO. 802 OF ADJUSTED LOT LINES FOR
LOTS 8, 9 AND 10, IN BLOCK 1 OF THE LAKE AT CHERRY LANE, ACCORDING TO THE
PLAT THEREOF, FILED IN BOOK 52 OF PLATS AT PAGES 4569 AND 4570, RECORDS OF
ADA COUNTY, IDAHO.
PARCEL X
LOT 5 IN BLOCK 1 AND LOT 13 IN BLOCK 2, THE LAKE AT CHERRY LANE NO. 2,
ACCORDING TO THE PLAT THEREOF, FILED IN BOOK 54 OF PLATS AT PAGES 4882 AND
4883, RECORDS OF ADA COUNTY, IDAHO.
PARCEL XI
LOT 24 IN BLOCK 2 OF THE LAKE AT CHERRY LANE NO. 3 SUBDIVISION ACCORDING
TO THE OFFICIAL PLAT THEREOF FILED IN BOOK 70 OF PLATS AT PAGES 7167 AND
7168, RECORDS OF ADA COUNTY, IDAHO.
PARCEL XII
LOT 19 IN BLOCK 1 AND LOT 46 IN BLOCK 2 OF THE LAKE AT CHERRY LANE NO. 4
SUBDIVISION, ACCORDING TO THE OFFICIAL PLAT THEREOF, FILED IN BOOK 74 OF
PLATS AT PAGE 7674 AND 7675, RECORDS OF ADA COUNTY, IDAHO.
END OF LEGAL DESCRIPTION &,-- �INITIALS