20071213Loan documents.pdf

C"t:"'.Jt.....~r~.~puATTOR.NEYS AT LAW DEC 13 Pi'll:22
Molly O'Leary
Tel: [phone] Fax: [phone]
moll y~ ri ch ards 0 nan do 1 ear y. com
P.O. Box 1218 Boise.1D 83707 - 515 N. 27th St. Boise. ID 83702
13 December 2007
Ms. Jean Jewell
Commission Secreta
Idaho Public Utilities Commission
POBox 83720
Boise ID 83720-0074
Hand Delivered
RE: Case No. EAG-W-07-01
Dear Ms. Jewell:
Pursuant to Order No. 30440, dated September 21,2007, enclosed is a copy
of the executed Eagle Water Company's loan documents as provided by
Idaho Banking Company.
These documents are being fied with the Commission for Stafs review, as
requested in the above mentioned Order No. 30440.
Sincerely,
1111_1~i~i
.OOOO280183&O1S1S12072007.
PROMISSORY NOrE
RBlrenc In th bo above ere for l.ndir'a USi ~ øn do no Umlt th Ippty of th doiiiint to iny pBruJar loan or Ib.
Itm aOOB CInt .. .. hu baa" amld Clue to te length IImltona. .
Borrower: .... VI.. ecpi. 1n'
l'l W. '.8tiùt1i..1D _18 (C~rir:Id Ba CO-ø1 OfI402 a.lqe ROi:ølt.1D 8318l2 "''1
~ An:' $"0.000.00 'ii.. R8: ïJi'H .. .. _..... ï)at Of Not ~.,,~.,
PRIS TO PAY. ..re WI CO. in C"Øl pi II pa CD .. 8I Ca t' or ... ..1l...
of .. Uh .. af AJ th 1Ø8I DI On Hu Ten Th_ . 00/100 Dc (.110.00 . . mu .. .. ..tl. tø.., wf ln on th un DI .... .b of aah ad. In iha .. ca fr il .. of.... iø nt of eac .... .
PAWØ. .. wU PI th Iò In .. pant of el .._ pr pl .. _d .. ii li De 7, 20. In~ .. wD ,. rø1I pavm. of IIII II ir da .. of ell pant .. ii .. 7. 20.
lI d au1 In pi to be du on tI I8 ., af each meni .r ti Un atoll or re"' b1 iipløa
la. pa wi .. epd flt to any lIad IId rr 1I to piid: 1Iin 10 an UI aol co .. fhn to an ..
ci. Th II Jn ra fo tb No Is co an 8 3860 bals: th Ia. by ri 1b l' or 1h ailnni.. om .,. or 3f cl. mu by ti lM pd_ b8. mu by Ih aø nu Of _ th pi i. Is CI.
IJ wi pøLe II Lend. addrii 8I ab Dr li web ot pl~ .. Lendar IJ de In wr .
VARBL INl RATE Thi Inma ra on 1h NOb ii 8lci 10 cl frm time iø'tI ba on ohng In an InPlDdt in
whlalla th Wd 81in Jorn PRIME RATE (th -Index. The Inde Is no n8llim thi IOW88 ra cirg by Le em b8 fDl. If th
In t.COIf unibl. dung 1h ttrr af th Ioui, Lander may dllna II 8uba In af noting llr. l.ir wDl te
BarrW8 th cu InIX rÐ1 upon Borrwer'. niqu Th InUs ra chang wID no all.mo oftn th. øa dey. Borruml ~ L8r ma make loan basa on ot ri .a weD. 1' Inex eind II 7.&D" PI lI. Th In ,. to ..
aplid to _ unid prial baanco dungthle Not '1m be at 8 ri of 2.00 psrcntge poln oll th In l'uJdng In in ln1l ra øfS.8 pa ll NOTI: Unt no ciumCl wl th Int ri on th N0t ba If th th maxum ra øIwa by nplkli.."
PlYM. 1i"'1 tht .lIloim fe 81 ot pr f1ui chrg IØ eer fuly 11 of thi date of th lo en wll.- ..lI to .... UJ ea pant (wr VOun or .. . rø of dtuf. øx ...otrwls red by ft. Ex fo th
fonø, Boiill pay wi paiy aU ør i pc ortt IIDU owe .uir thn II .. du. Ea POYønt wll.. un81 ag
to by Le In wrig, iiU.. Borrer of BonuWør1 Obliih to einu8 to makø pant of ii:d unid ,nt R'-. urpøen viIU I1 th prll bJan d\ Sonaer ag nc to .ind Lendr paymønta mør .Jl1d In fu-. -witut ~.. Dr
s'ml fangii If Bower nn Guc . pay Ler ma øe It wllb Ioilng an of I.l r1hl urr tb ND. an ~.,will nial obligatd ui pay any fu amCl owd ui landII. AD wituen i:uncat aona8J dlput amW1, lnudng en ohacl
or ot paynt lnirm tht Indlcatøs lhat th paent conatu 'paent In full. of th amDUIJ awad or tJ .. tød wit otconditins or fIns iir .. fu sasfaeon of a d1pud aMount Must ba msl eir delrad ui: ldihD Biing Compa. Lo Oper .
PO Bà 44B2l Bola , ID 83711-029.
LATE CH. If a pa II 18 cl or ma lat Bor wIll be ohad S.OOØl øf" un pan of" ~ lI
PY ar .'00.00. wb II ..
I. AF ~ULT. .l.n defa Inoli. fa to pa uP. ft ma, the ~ .. CJ tlll No ab be Inan IJadnø. &.OC plØI poin mllln I-Defaul Ra Me"I. Th DauJt Rm Ml ehal .a10 øp to lI 8UC im ..change that woul ha iipl had there ben no de Howev. In nD -nt wm ti. Inti I1 ucll tJ IJ In l'
IJta uner eppbbl. la.
DefAUT. Wt of th foUlJ ih 0Q ui av of de I-Ev of 0efa1 undllth N0t:
Pa f) 8øwi fall .. makø any pa whn du unr th Nate.
OIr D4. Borrwer fa to coply wl or ui pll an otar tørm obftltn, CO ci Cln oorønt In th NDor Inan of th mi dØl or to ciply wit or to pør any term abDgllon, co or aond co In ii ot ..mentbeii Lend II Borrer.
Fe ~ AI wama, l'prit or .tØøn mød ci fulahad to Le bv BoIT or on Jarrwae ba ui thNo or th relad doCUan 18 f8e or mleallng In an møil ruct altr now or i& the ti M8 01 fi or beQOÙ ,.
or ml'la.dllt any ti thl'aftr.I~. 11 dln or blUø of Bcrtl ~ .. II gaii bu th InVlOY øf ~r. th ØP of .l'ce fo .. Par of Boara piart, an lHant fo th benelt of ond1. an ty af C1 wo or tb
commCeen of an pmln unll any ban or Inslv law by or aus Bor.Cr or Fo Pra. Comimøm af ftcllU Dr foi1 prP. Whr by ,I PlDI ul-h.llPØon or imy oter maod, by an 'Cfr of Borrr or by sny govmø -Seney ag an ~re aeeu tb 10m.ThIl'lneUl B Olflahmøn of an of ~fJer'. 81111ii, Inclng daoalt acCOUl. wi Laer. Hawe. th Ev.of DI ø.noi app If 1t1i II . ¡oDd fai disput by Borr.. to me VlIi or reeionøløne of th clai WhJch-1ï th buil of th am or
forti pl"ng an If Bawar glv Lendar wrlit DOUc of th llre Dr forfit prong en dopø wlth La mo.. or
. sur ba fa tb iinir or forfit prlng. In an amun detelnBd -by L.r..1n It ~lIdi", .1 beg an.lIequa
_eNa or bond for th dIsut.
Ev Alng GII. An of 11. prøng .va DC wfth niet io anv Gu of øn of iI .1nna or MY
.~.. - ~ I~ , .PROMISSORY NOTE
(Continued)Pal82
In the ew of .. dea Lender, at li opon ma, bui milD not be ri to. permit th GIIr's eall touncndonally th oblll1 wing uner th guani In II maer aatlfact to Leder. and. In doin so, cu an Evnt of
In Owhi. An iihalJa In ownhlp of twtyt1 perc C2lJJ or mare of th coman atct of Bal1r.
· Ch. A m81rll iivee chanuø occu In Boower'a finan cindan. or L. bell the prapeot of Pllnl or
rmncG of thla Not Is lirlred.
. Lar In good fa ba lttf Incu.
PrIoI1. If any defa othr than a default In paymnt Is cunble Bnd If Boowe hii not baan given II notce of a breach of th. prviion of th Nab witin th preoedlng twelv C12J month, It ma be cu If Bcrrwer. af recang wrl no frm
er demang CI of 8uch døft: C1 CUl th defa wit fiftn (15) da; or (2) If th Cu niul mare th fiftn (16), Immeialy in 8lps whih Leer dsems in Lande's sola dlacretlon to be alli:iint to cur tha defuJt and thalr
and coplet al reuonse end necesar abps iient to pruduce coplance as soon 88 reasonøblv prctcal.
RIGHT. Upon diifat. Landar may diiclare th IintJre unpid prncipal balance under th Nate and aU aDC unpad Int
e iy due, an thn Bo wil pev that smount.
R . FE: EXE$. Lendr may hIre or pay someoii els to help aolaet ths Nata If Borrwer doea no pay. Bonusr wil pay
: er at amout. Th lnud. aujeet UI any I1 under sppllcala law. Linders reasnable øtrn' fe an Iiigal exnsea, wheterat' ete la a lawsult Incuding withou llon aD niuøo atrn' fø 8I legal upinsll fo bankrpt pndlng Oncli.
rt modi or vaca any aiii sty or Injunetonl. and appeali. If not plUhllbd by applicale law. Borrer also WILL pay an cour
. , In additi UI all at sum provldiid by law.
NS LAW. Th ~ wi be gaeme by lIrela iica to Lede ii, to th ut iiot prd by fødelaw, th laws atOf Idao wf ni Ullt ci of la pnvilGI. TI Not ha IiGI eccapl ii Lier In th Sl8 vi fd.
CE F VSE. If there Is 0 Iawalt Borrwer agres upon Lender'a raqu to sub UI th )usdlolfon of th cour of Ada Coun, Statea~.. -. .
QN RE IT FE Borrwe '1111 pay a te to Lender of 620.00 If Borrwer ma s paent on Borrwes Iosn Bnd th check Dr
ze charua with which Bower pas ie lar dlno.
Kr SETOFF. To th exnt peit by 8ppDcaie law, Lender r8SMl a rfbt of 88to In an Barrers aCC wit Lender (wtet
id iung. or aaa oth sccun. This lnludøs aU ecCOnta Borrr holi .fy wit 8Ome eI an all aCClunta Borrr may
nine fu. HowaV8. thle do not Inlude an IRA or Keogh accun or an tI acciun for whch .81ft woul be prohlbltø by
. Bo war autita Lendar. iÐ th extt pemid by applicable law, IU chrgi or s.lUff aD 8U owin on th Indebn0& again anal accts, .
CO Borrwe liiiwldg th Nat Is'secud by the followin col decr In th 88cu lnementlld hareln:
.IA . Daad of Tru el Dacer 7, 2007, UI a tnte In favo af Land on raal prpe Iooote in Ada Coun. Stata of Idah,
lB Clun, equfpmant end fi dascrlad In a Commercl Secur Agament da Dicibar 7. 20.
OF . 1bs Not evldance a atght Un of credt. Onc tha IÐllIau of princIpal høa been advancd, Bor Ie not entldIoøn Bdvø08. Ad under tl Nii'C mev be niitB etdler or or In wrlllg by BonoWlr or aa provded In thi pagrh., but ne not, requ that all oral raquelt8 be corlflrmd In wring, AU counlClon, Inns. or dlreodana by Ulphon or
Is UI Lendar am to be dlreøtd to Lender. offce shown above. Th following paon or persona are aU1orf to requaal advance an
MO paam undor th IIna of Cl unti Lender receIve frm. Borrwer. at Lender's addl' .hDwn abOl, wdn notice of l8VDcetn
h ut Robert V. DøSba. Jr.. Pnida of Ea Watr Coy. In. Bcrrwer agn UI be lIabt for al Bum eit fAJ
. In eccanae wf th Instrctliina of an autord pereon or (B) credid to iiny at Bower'. accoun wit lJder. Th unpaId
pli Glpiil tønce owin on th Note at an tie mav be evdenced by endarsment on tlla Nota or by Lander'i Intel rallrd Incluing dall
CO prt-out. Leder wIU hae no obllgalfon to adveco fuda uner this Na If: fA Borrwer or any guarantr II In .flult under tl
t8 of thle Notø or an agraamen tht Borrwor or my guarantor høa WIth Lender, inuding any agrement møda In conl1Uan wit thaalg ng th Note; IB) Bøwa or an uuanmr ceøaøa doIng bualnus or Is Insolvent; (C) any guiintr Hob, clms or othis
a mpt to limi modIfy or ravoke euch guaantor's guarntCl of this No Dr an other loøn wit Lender, (0) Bcrrwer ha appl fis
p d rauat UI ths Not for purB8 otlr th 1ha autorld by Landar or lE Lendr lngood fa baUlMal11f lneCl,
C . REPORTNG, Upo reue frm Lender, BarrwerlaJ ønd Guarl .haD prompt fuh copIes of auch tax ratu an finanelst
ra . "atteman '88"8flId by Lender. all prparad In a mane and form and at such iiu 88 aiw 8Cptabla to Lender.
BU CE OR ItTS. Thbrm of th Not eha be blndng up Borrwer, and upn Boower'i helr. pel! repæanttlV8a.
lI11 and aulg. and ahaB Inu to Iha benafitiif Lem:r an sucelOra and I1lgM.
NO OF INACCURATE INFORMnON WE ,~RT:TO ~~~ n~ORTNB AGENCIES, Pløae nolily us If we report an lnaClurate
In ,n abut your acoontsl to II CGnsumar re.P!ø~QeitiV.lYQUi'!~tt~,I't1C8 decrllng 1h ipeclflo Incccyllei alould be &em toWI i q¡a ,lInwlnD aiifrø: Idøt Bankng Compii~oLah OprriílO aox 4l29 Balae . ID 83711-0828.
(l . PROVIIONS. If any par of thl. Noto C8MOt be enfo, th fact wID not iiffet th ni of th Not. Lander ma delev or forgo
e reng any of it rlghta or remii8 under this Nab withut losIng them. Borrower and anyotr pereon who signs, guitn or encias
this Not to UI ext allowad by law, waiv prellntment, demand fo payment, end notice of dlahonor. Upon any chnge In th tes ofthla
No , i unl otherwise axrøly 8tad In wrldn, no part who slgne thi Nate, whether ai maker. guantr, accommodaton makir or
end rasr. ahøU be relell81d frm llll. All iueh partas agrea tht Leer may nmw or e;cnd (rap8llldlv and for any lengt of tie) ths
loa 'on aia anv Pll or guarantor or coUataaJ: or imair, faD to ralz upo or pect Lender'. iiit lnt In th coUetanil; en take
any oth aaton deamed naD88SJ by Lender wldout thi conii of or notice to anyono. All euch partas BIo agre that Lindar may moif
th 108ft Ithout the consent of or nottca to anyOne athr than tha pa wit whom th modlflcaon 'e made. The obllgatons under ths Note
ar Int d asversl.
"
PROMISSORY NOTE
(Continued)Page 3
"'R TO lIGNI' THIS NOT& BORROWE READ AND UNDEROD ALL 11E PROVIIONS OF THS NOTE INCLUDIN TH VARIA
IN'T RATE PROVISIONS. BORROWE AGRI TO THE TES OF THE NOTE
PlOWE ACKWL6&S RE OF A eOMPI. COP OF TH PROMISSORY NOTE.
aORROWE
.._'-WrUI_Co._____._. ____ ...---.
1111__111
.00~~~~2600183&0612072007.
DISBURSEMENT REQUEST AND AUTHORIZATION
Ref8 In th bol above or for Leder's usa o~ and do not liit th sppcablllt of th dOCUlt to an pBrcuJ loa Dr lt.An Itm ablM contl",n ...' hai been omitd due to te IBn limitaons.
.rrsr: Eae Wat co. In
172 W. Sl St
Ei..1D 83818
Lende Ida 8a Cam!a 0f402 S. Ea Roii
iø, ID Ba1SlZl) 831-70
LO TY. Th I. II Verliblt Rate Nondlclobl. Dia Don Un of Crdi Laan to . Coat to .110,00.00 du on Durn 7.209. Th referece ra iwan SttlS Joural PRIME RATE Clrrnty 7.J5) Ii addad 10 th main af 2.00". reuJ In an Inlll rate of
8.&00.
PRI PURPSE OJ: LOAN. lb. prfmoi puràla of thla loan Is fo:
ci ... Fam, or Ho.ho PuDles Dr Paim 1nøt
I~ 8l1.. lhø Ra.. Ji.
IP PURPE. Th lJcd pur.. of th klan Iat sv Irnprnt.
ØJBUJS flRUCTNB. Bowe und81'nd that no loa pn will be dl8 un al of Lea cinø fo ma thii
io ha ben lIad.P1... dllb thiloan prnida of '110.00.00 . fDaw:
Undbud Fu:.'10.0.00
No Pr:f110,o00.00
~~ PA IN CAH. 9o\R hu Pild or wßl pay In C8 .. qra I: follwin aharR:
~rr A'","í
.i i.e 3 %:2_
Rm iJ 1õSi
Øl 1 ti .
Pr Flca Cha Pa In Cuh:-01,100.00 Loin Fe
0I Ch PuIn Cuh:$30.00 DBl of Tru Recoring Fe
t3.00 UCC Pl8øan Feafl.OO UCC Poaarc Fe
$400 UCC Filing
.12. UCC FIre RUng
l1,00.ÐO
.&200
TøI Cii Pa In CI .1.1&2.00
US IU& Fl. In addion to au otr ahrgu, Bami lii, to th 8X no pnlt by law, ti pay all"øois .. fo
re... at Leer'. secur Intruln aalJ .'cunlJ th loan. Banae, will pa 't.. faøa 1S fl lImo th lin or ii _ re th88 iuunt of ths8 fure lin re... fe. Is $60.00
FICI COOf. BY SIGNNG TH AUTRlTlCl. 8ORROWRERUEN AN WAR TO LE THT THINFORMnoN PR ABOV IS TRUE AND CORE AND ntT THE HAS BE NO MATE ADVE! CHE IN BO'S
FICI CONDmoN AS DISCLOED IN BORROWS'I MOS RECE FINACIAL STATEEN TO LEER THIS AURITIN ISDATE DECBE 7, 2007.
BOOW:
_..i.v.a.....ll......'.... 1...__ .1l~""~
1_-.ODO00018360238120720.
COMMERCIA SECURITY ,AGREEMENT
Rareen. In 1Ie bo abav QR for Lender'. us onii an da not Umlt the eppllcabll1 ot 1flø douuent to any pørcuar loa or Itm.
A ltm above contin ...' haa ben oml dUB to te len 'Dmltona.
'Grr:"'1. W.. Co. in.
172 W.it S1
1q,1D .,.
Lender lci Ii Co
Eagle 0f4O8.1i Ro~ID sa."121IU'04
TH CO.IC ~ AGlEN ..II De 7. 20.11 ID .. nell .. il 'W Coll. la. t"f...... Cipal....'.
ØANT OJ SlRI 1N. ,. va _Wi..... øi .. to Le . alO ..in 1h C0 to .. tI
~.. n ...1h a.dlt ah hI 1h rløb at 1f th AlJlRan wl raet to the Co In lØn iø .. otr ....1A.... br-.COTI _QI Th wo -Co...- .. .-d In iN Agrøen ma 1I føln de prpe, wha now ll DrIu"r IO wh now GX or hlaft ivslg, øn whør lóø. In whlch Gran i. iiNl to Lir i ..GU In '"
th pa of th I~ and peance of iII ot cipdii unr the No ind 1f Aømam
AI Ai an IiIlAl..
In adt1 th word -eo. _ lníl .n th foUow. wh no ow or he il, wha tI exg orl)ar en ...rer Iod: ' . .
tA Al...,, iInt ..rii. to, pa *'n.. niae.. of Il addhJlU to an cit th calli d8 _rn~ ad no or I...~ Al pi .. pr of ai of Ihe pr de In th CO seii.lC AN.., ller ~Ja Jn_ re., mo pae. en .i ot rf ñI ou of . uti. ie. ~
or ot dlpan of al of th propert duor In th c:Bt ..etn.
(0) AU ~ øncl ii pl' fr 1h.., d8 10, or ~ dl8ln of 1~ of the pr dnlIln thCo ~ an 8U du frm a th par wh ha døga or deyad th Can.ra or frm tM piny',lninr, wh due10 Juden øa or othr prri.
CE AI'II lU da I' ti IU of ih pl' ri In it Co"'''1 iecd whe In th fo of a wi. ..
~, mlniahi, or iielt madla toll wl1 d of Grar'. ri tie, an in In and to u8 compr eoft_ ",quJ to
ut.. .., ni8l. an pl'll .ny Ilh mai ar _ Wi øknlo med.
lo at d" .. CI in" lo OI 1h løDW dN ....:.. ..1f -A. .. Ea"- ... __ fi tt .. prii Is ... .. Cø,In '72 W..... ..ID....CIUAT8TlO& In adn to th No tN. Ag I8 ii abJdone. .. an la. p/ in th or
Gre to Leì or BI 01U or mOl of th as ..n IS .. ii by Le., agins Gr or an oi or niore at tt. wtw l'in or her ..!n. white, 18li or unla tD th pure af ih No. whø, vo or oilB. wt du or no _
dltci or Inlr dlll or undBtlnad. .bilut or cogti Uqutlt Dr unllq8t. whe Gnmr ma .. nab/i Incleii orfai with ot, wher obatad lI Duenir. 8Uty. iImmolton)J Or oehl.i, an whellrery up ØU ima maybe or hør may become b.".d by IJ .i of Itmlton. en whøtir th obUgøton to rei- BUh emun ma be or hll maybaiie otli. unnfrc.
II OF 1110". TD th Mt smd by iiplblø Ja. Le m.. . right of 88 In al Gir'. ri wlC ..lw
cildng aal', Ør ii otr acc. Thta tndu ~i1 llce Gi' hat .I1n wit aomoni .. an all 8Coi. GI' ma
ope In 1f1 fi. Ho. tl døll not InclUe IU IRA or K8h accontt. or iny tn accoun for wht ae VIul be prhld bylaw. Gra ii.ri Leder. tø th exnt pøn1td by eppHllbte I.. tø øhli or..tu al IJ owing an th lnabdn aPl."and a1liuch aa.
Gll'8I1ATI AND WARNT WI RlPE TO TH COTI. WI l'ci to th Co.... Gnm .._an proli ti Li th
P8 of I.... Gr.. to ll wha don .. ni by Le to pa an ca lA11ØIn 1f øi CoUii Upon ni of Led.r. 13ra wm da tD La en an .. of tha doci BVlng or øona 1M
Ca..... an Gremor wm no Landar'. Intre Up iny an ill oliml p.PI end lne_ If no dallni to Lasr fo ..n
bV Lt. this li . ci s. AlIlam II w8 coln elet lM thh 8D or .. pi of. Inlr_ 'ra PI In fUan 8V tI fo a peil of ti Gre nu no be Inli . Lend. .
Nad lD UR. Gri wiD pl'mp no LBnder In wrg ai Le". adcl.. ehow .bo (o _h othr ai I. Lt ma
deii frm li 101lel prr tø an l1 chønp In Gre". namr, C2 øhege In Oras uium bcilno iumafa; l3 obpIn 1M mag.ir of th Corpol1n Grr; l4 ohe. In th autri 8fiinarla), (6) chng_ In Grator'. prlnopa ol ~t81 øhe In Grants 8tB at argnJ; (7 convrsion of GI' IØ a new or difrent tyo of bUln.. an¡ or (8, clll Inan oth aa of Gnntr that dlrcty or Indlri: ",Ia_ to iny agmeina betwn Gra an Lende,. No clta In Gra. na
COMMERCIAL SECURITY AGREEMENT
(Continued)Page 2
of organln wW 18ke effat W1 af Lander ha rsce notice.
No . The uaautn and deliry of ths Agrmal1 will no vila an law or agremen govemlg Grenr or to whi Gni Is
a p rt, an Its eøfiaid or lløa of Iniirpraan and byaws do na prhibit any tsrm or Iind of this Agnieme.
, lI of CoDa To the 8Xnt 1h CoUatøl coslat at accoim chl par, or glU1lmaglblâ, .. dilled by thUn( Corc COde, thi Cotlllra fa enfrcbla In acrdance wi It tsrmi, ia genuIne. and fu cempJøa wi al applcable Iiw
and regulalf iincng farm. cant and manner of prparaton Bnd exeuon. and 1l1 persons apparl tD be obllga on thCon ral hav IUrl and capeclt to contct and are In fact abllbld a th appr to be an thi Collatera. At th dma an accet
bee InBl subsct to a aeeurlty lnint In tawr of l.ndsr. th sccun shall be 8 øll and va account reprntng an URspud, bona
. fl IndebclBl Imun by th ac debtr, far menanlle held subect to deliery lntnone or previy ehpp or delivrep an to a contac of eafi, cir fo saC8 pniuø ped by Grr wit or for th 8ClØt døbr. So long.. th Agremen,nm in In iffut Granr IhiD na, witout Landir'. pror wrn iinsint campr, l8e, sdJuBt or exnd paym unlH or wit. reg to iny iwm Accun. ThBre sheD be no litoff or counalma aønat any of th CoUara~ and no lIrema ihell haw binma under whh any deduos Dr discoun may be claied llmlng th CODatra ex thsi dlsalaaed to LBndar In wil.
on of the Co. Exept In the ord cour of Grar'a bualn, Granr agresi to keep th CoUaer (or to th exnt the
ral i:l& at Intle prpert suc a aCl or ßInualnglble. th recor conmlng the COllateral at Grar'8atwn ab or at auch ottr Iooiitlona .. are acptlø to Le. Upon Lender'a requ Grant wI daU tv Ler In form
et to Lander a echeduJe of re proll lind CODinfal locins reat tø Grar'a opena, Includg wit limiton th
Ing: (1 all raal propert Grentr owns or I. piilri; 121 all ra prope Grar Is rentg or IIIlInU; (3) all 8torige facl\ai
r own, ri l8BaB, or UB88; end 141 all othr prpelB whire Collate.. of may be fo.tsd.
of th CoDi. Expt In tha ordlnai ciure of Grantør'i bu, Gnintor ehall not nimovi the COllateral frm It exg
n witout Lander's prir wrn consent. To th exent th th CoDlIral conslats of whlciBe, or othr tltled prpeny, Grar ihall
not kG or permit en act which would raquJra iillcailon for car1clt of 1I for 1h vehlcl OUldli the Sl8 ot Idaho. with
Lan e"8 prlor wrln coneent. Grentor ehall, whamir rad, adl Leder of th BJct loeaon of th CoII.tara.
11 ct In Co. Expt for lr eold or accim colled In th ordlnll cors Of Gnintr'a buølnea, or 8115 proded for In th Agrent Grur ehall not aa offr 11 ea. or o1la trnaer or depoe of th CoUate. Grantr.ehal no pledøe. mortgi. emiumbar or olhrw pe th Coatra to be subJec to any Uan, iicurlty Inteeat, encumrance, or
. ' e. otr th th ,.cur Intrast prvide lor In tJ Agrmint, wI th prir wrn consent of Leder. Thlnclud eeull
.1 18 eva If JunIor In riht to th 881ur Ints gr uner th Agl' Unli.. waved by Lender, al prceeda frm snydla lton of the CoßBtra (for wlve re..an eha be held In tr for Ler an 8h nDt be cammlad wit an otr fude;
pro dad hoevr, this rvmant sha nat canll coneent by Lendr to an ole or other dIspsion. Upon nicalpt Grantr ,hallIm letsly dølver an iuch prceøds to Land.
ti. . Gnint reresønt an warrma to Lande th Grar holde goad and rnrle tf8 to th eoRe.tBral, he and clee of al Henan noumbra SXCpt far th Din af th Agreernnt No finanIng lImiint cOVlrlng eny of th Colatra Ii on ft In any public
off . othsr ti thse which re the eecuty 1nt crll by th Agmant or to whlcla Lander ha øpclftaUy Illlntd.
Gra r ,hal dsflnd Lender'. rlghts In the CoDat agnst th cfalms an damsnd af al oter PSl'ns.
R ad Mllna. Grantr agniu. to kaep end inliuln, and tø C8U8 othSI' to keep and maInt, ti Collatralln goad onfer,
re and condan st ill tlee whi ths AsrBlent ram8l1 In effct. Grantr furtr agrees to pay when due al claims for work cIan, . 8arv.. rendered or matl furnhad In Ilnneetn wit th COllra 80 that no lien or encbrnc ma ever atth to or be
filed galn th COll_taral.
I of Coii. Laer and Landar', daalgnmd repreanta and eDema aha he ti right at aU reiisonabls ti.. to exlnan pact theCOll8tni whVlr located.
1i , Al88 en Uena. Grant wm pa whe due .11 ta, lIt8 and lins upn th Coatral, Ita usa or optln, upth gniimnr, upn sny prls no or nats evdencJn th Indsbtanai. or upci any of the othr Related Dociil1. Grarmay hold any such paynt or may elect tø con anv Den If Graor fi In god mlth cionducg ii apoprate proiidJø to canre
tha ligadon to piy an so long 88 Lendar's lmaret fn tho Coaiwl Ii not Jeopardizd In Leer's sole opnion. If th CoDiiral Is
subl *d to a lIan which II no d1SCargad witn llen n &) dBV, Grnt 8t1d diill wit Lender oll, 8 aufnt carra iu
bond ar other seClurlt satsfactry to Landør In SR amount Bdequll 10 prod8 fo the dIscharge of the lien plus any lmaraat .CO.
raa, nabla atma\l' fee or otar cihar that could accru 88 a reult of taracloiur Dr sale af the eollatal. In an cinte Grantor
Ih811 fed Itself ind Lender and .hal satify any fial advera Judgment biira anfrcent aaii th Collatral. Grator shall name
l.nd ai un iiddltana obUges unar an surty band furned In th cont prceadlnøs. Griintr fuer agro to fuih Lendar wlthev tht auch tas, 8lØ8ments, an govemment an ather cisa ha been pai In full an In ø timely manner. Grar ma
wi id eny euch payant or may elaat tø Clnts8t any flen It Gra Is In gcad fait iinducting an iiprprlate pralldlng to cost thobBg an to pii end 80 lang .. LBnder'l!nre In the Collateraia not Jiioparlzed.
wi GlMmm Raqnt. Grar ehal cClmply prmpty wit all law.. ol'ø, rulae an rauilitiDna of an
an autorls. no or heniaf In effct, applica to the ownarehlp, produeton, dispositon, or UBB of the Collara. Includgor regultions relag 10 tha undue eroølon of hlgv-erodlbla lan or reating to tl1 convean of watlør fo the producton of en
ral product or commodIty. Grimr may Clnt In good fait an auch Iiw. cinan or niøutfon and witold compliance
dur an prciødln. inluding epproprat eppars. so fang ei Landers Int In th COl1atai, In LBnder'. opInIon, ia nat Jeopardd.
dius Siitwic:. Granr reprGnt snd warnUl th the CoUaUlni haver ha ban, and never WUL be 80 rang.. thl. Agresmant
~ a Dan on th CaBtra. UBad In vilation of any Ennm8nt Ls or fo th genratlon, manufetre. .torag.. trrtn,traa nt, dispoal. rele8" or tlmned raliiuii of an Hiwoua Subsnce. Th raraasntaona .nd wll cintlns hanil" arbei on Grans due dIgenca In Invellgidng th CoDatera for Hazrdous Subtaces. Grar heraby (1 rels8S1I an walv my
claim 811e1na Lander far indemnit or iintbuton In the event Grantr becoms liale for claimp or othr co,ta un øny
Nnental I.WB, and l21 agra to Indemnf, defand, and hold harmlBB l.der Bgilnlt an and ell clams and losse l'ultlng ftm a
of th provl.lan af thIs Agniiiment. Thl8 obligation to Indimnlfy and defe ahal survve th paymen of tha Indbtede.. and th
etn af thla Agreømønt.
i of C88 lna. Grator ebiill procure imd malniøln el riks Insunce, including without limItaon fire, that andIabl :CIVBga togethr wit auch othr Inurce a8 LBndar may requ with respeci to the CoII.tonil, In form, amounts, CIV8gu an
. ui ,.onebly ecceptble to Lender and Is by 8 compenv or compa reøsonibly acceptbl to l.ndir. Grantr, upon requOlt of
n rj wiD deliver to Lender frm tie to t1~ the pollclo cr certcate of lnaurance In farm aatlatory tø Lender, Including IIpuJøtianø
oyagll wil not ba cancHBd or diminshed wlthDut at leølt tiln (10) dsyo' prlDr wrlttn notlce to Ladar end nDt includig ønv
mer Of th lnaurar'a Dabßl tar mDure to gIve such a notice. Each Illranc pDllci also ahilinclude an endorement proIng that
COMMERCIAL SECUR AGREEMENT
(Continued)Pal
y
co In fir of Lender wßl not be impare In any way by an se omisio or default of Gnmtor Dr an oter peon. In CliiotwI'lI po" OIri II. In whIch under holds or Is ofred a uc in Gra wBI prodel.nder wit au lo paor othr andcrnmima 88 Lend may requIre. If Granr et iiy time fDls to obtin or m8lln an InaUlnce u required un th.
Agre Lander ma lbut IhBlI not ba obUglld to) obt e"clt Insrance 81 Lander deeme approprl.., includIng If Lendar 10 chOO
.alle Inrast Insurc". whIch wßl Clr only Lendar'11n1' In the Collatera.' .
Ap of Inure Pr. Grir shall protl nofy Lar of any Io or dai tD th CQU..ra, whar or no SU
Clllt or lo Is coved by murao. Lender mii mak prof of lou II Grar falll to do 10 wiin flfbn lUi) day of th ll.
All pro... of an lnur on the Colliil. Includi IClld prooee thnin, shll be held by Lender ai pa of th Collre. IfLend ~ to reIr or relaceent of the damaged or dl8d Collatal. I.ndr etøU, upon aatfary.prø of exiu, payor reimbu Granr ftin the prceedi ftr the røøonabl COlt of repar or retoran. If l.der dc.. mi consnt ia repair or l'p1ao
of th CoDaiaJ. Lendr ahall Ma e aufent amoun of thi proceds to PII al of th. Ind. and IhlD pa th ba liGl'tor. An prcei whl he no be d1.bu wlt alx 16) mont Bftr th rept and whIch Grar h.. not. ao to
the røpalr or restoraon of ti Coatera aha be used to prøii th IndabdnllS.
I. ReIl. Lende ma ree Grentr to maInt wit Lander rerv for paym of Iniill prmis. whla .. ehbe er.- by monthly pant frm Granr of 8 sum esd by Leer to be aufole to produce, at ltat llfban (115 dll bethe prmium due dii. ømou at lea eqal to the Insi: prum ia be paid. If fian n6) d.. b,fara pav hi du thl'
fund iira Insufalnt Granr sh upon demimd pay an deftclBncy to Lander. Th reaMl fui shall be hed by LaJl II . QlIldepoBl an sb cona a no.lntrell-basrlnø 8lHun whIch Lender may 88fy by pay8l of the lnuraa prIum reuJd to ax
pald.by Grer u thy beiiom. due. Lender do.. not hold the l'eMl fuda In trat fo Grant. end Ltndar Ie no th iig8M of Grant
far paent of the Insuranea pl'mluma required to be pild by Grator. Tha rieponølbillty for th payent of premlue IhaD renGranr', sol' reonalty.
in. Rep. Grar, upon røqUl of Leder, sll fulh to Ler report on each exg poov of in at _
lnon .. Lander may reiaonely requs Incud th foing: (1 the nae of th. Inurr, 12) th8 ri. tn 13J th amof th poUDV (4) the prope Iniur; lSt m.1Jn cunt value on th bais of whl Innc h8 ben obt li th mø ofdalnng thlt vaua; and (8) the ,ielraton dstl of th policy. In aditn. Grøntr sha uP ra by Ler lf not mØlofn 'tn ønlly) have an Independent epprir aaafctry to Lendr determine, as eppllClbll, thi Clh vetua or rapJç~nt COlt, of
th Co1lra.
FIII1Il. Gr auri. Lendr to fia . UCC fina 8tma or sltmll, 8 COpy or oi ~ tI pe
Lends øeci Intre At l.dera re Granr addly ag to .Ian all otr diita that ere nell li iipr an i:nua Løndw's ee Inre In th Prpe. Th Incldes meklng aii Lender" ahii .. the fI an on 8I
. Inre hold on th tfø III th Prert. Grtor will pay al ft f... ti b'iure fe. .m otr fe.. ii CI Jn un
prblta by law or un.. Lender Ie reuird by law to Pil IU feai an COIl. Grar IrnyocabV appointS' Land tø axut
dooUl necary 10 b'anfe tide" th la . dafeuJL Laar may fila a copy of ths AlIment .. a ftncngatari If Gr
ClIß Grant8 nøme or addrs, or th nam or addre.. of iiny pers grnting B iecurty fntrøll un tI Agn.. ri,
Grentr wi prompty noti the under of euch chin..
GROR'. RI TO POESN AN TO CDW ACUNT. Unt dlllt im _pt .. otll.. proldad baw wit ..,. to
acc. Grll" ma hlM po.,BUn of the tangible pel'l prJl an bimaJ use of al thB Call1lrll li l' us It In lI Ilmø no Inlat with thi Agrnment Dr 1he Reii Document, proad 1hii Brae rfht to pa..ia an beneftcla use ahll no
apply to an Collara wha pD8B8on of th Collatrsl by Lander" røuJnid by lew to perfci Lendr's secur Inre In iuc Ccsii.
Unt otrwlu nollld by Uinder, Griitor may coUeci an of ti Caral conølitIg of ,i:oun. At any ti. an 8Y thug no ev ofDefaul exlI Ler may enrcll8 It rights to collict th, ecllunts end to notfy aucoun debt tDmaka paiims dlreDty to lind., feBppllcitlon to thelndabt If Lader at tny time hu poulon of an Coataral, wliir befo1' or afr an Ev of Deful Lam etD
be deemad to ha _relsed rl8aanabl, ca in the custdy an prrvon of the Coll8trø If La ta suc eedon for that ~ asGrar sl reqll or .. Lender, In Lender'. iole dlcrøn, shal døim appropratl unr th cl8lnc bu føur to ho any reull
by Gnir .haD no of ltølf be døøad to be a faur to 8xsrclse l'iinsla cirø. Lender shill not ba reIred to tal iiny iitepe neClry tø
prøMl an rights In th CoDetB agelnat prior partd. nor to prbill prer or "mInta an iacrl Inte gin to ";un thIndnei..
LEDER'S EXIT If an eoton or pnCted " coBnc tht woiJ inally Rfci Lande Intt In U. CaUlra or IfGrent fel 1U camply wit iny prvisin of th AIl'nt or an Reat Doøument. ing but no IIi to ßr'i f8LU tDdlaclul'B or pa whin dUB any ømoun arantr la red 10 dlD1 or pay unda the Aønt Dr any Related Dalnt, Le on
Grantor's behalf may Ibut sha no bø obligatd to) ta an lIn tht Lønde de81 appapr. Including but na li to dl0harln or
pang aU t8. lleiu .eau 1nl'1t, iincumbrancei and otJ c1alml, Bt an tlB l8Yød or pllId en thi Collatra and payg .u ao foinln, m81ntlnlng an Pl'llrvg 1Is Collateral. All auh exdit Inced or pBld by leder for such pus. wI thri heir Inrs atth ra chared uner th Not ftm th dille Incud or paId by Ltnder to th dll of repayen by Gra. AU such exnsa wm becoe.
pm of th Indebmi ii. at Lender'. optn, wil lA be peyble on demend; (8 be added ia th beline of thB Not an be eppoonad
emong an be paya wit an Inallm8l payent to becoe due durng althar 11) th tsrm of an appHoablø Iniur. PCIICV or (2) ti
nmaJg te af tl Not; or (C) be trd .. a balo pant which wID be due an pavae at the Note'. mat. Th AlJmen ale
win eell pant af th... imau. Such right nil be In addJon to all athr i:øht and r&adla to which Lendr mii be an upnDeful
DEAULT. lech or th fowln sl co an iw or Deul unr th Agame
Pa De Gr fi to makø an peymnt whe dL1 im ti Indbtdn.
Ot Di. Onm fi tD øo wit or to pe an o1 I8 abO_ft, . coant or cond cont In th Aø orIn an of th Rela Docunt or to copl wi or to parl an term; obllgldn, co or cond coned In _ ot
agment baee l.wand Grantr.
.. SbdM'd8. Any waran, reprenti or Il mlde or fu to Lender by Grar or on Grr'. beilf ui thAgrøllllnt or th Rilat Di:ai Is false or misleadi In eny I1BI reapet elt no or at ths ti madi or fued or lime
fB.. or mlaiadlg at any time thaaftr.
D4 Co. Tlli Agnema or an ar th Rel8ld Doumlnt Cl88 to be In fun fo an .lfct ßn f8 of an
call1l,.1 documen to cr . vend and perlld ncu Inrs or Hin) at an ti an for ii "'.IO.
lno1. Th d1saolun or termInan of Grentor's lløtce sa a going buønes th Inolvnc of Granor, th. appont of 8ralv fo iny pm at Grar'. prøpørt, øny uøønnt fo the bene of crdl1, any ty of arltr wor or th oommllnt
~ 8ny preeding unar iny banpty Dr InlOlvncy la. by or igitn Grantr.
COMMERCIAL SECURIT AGREEMENT
(Contiued)P8e4
or Fa Pn. comeceme of fulClur or fa prcndng whllr by juIcIal preiø. sef-hp.:nipo or an otr mB1. by an crltr of Grantr or by an lJmml agø Bgalns any cilltarai iirl th
: In tanu. Ths inlud .. gam of an of Orena aDCOun, Incluing depos 1Iun, wl1 Lender. Howeve. th Eve of. De shci nat IIppl If thre ia .. good fa ci by Granl aa to th va or I'BSnabl1l of th c1a which ia th bata of th'. r or forfitre prd1g en If Gnr g1 Lendar wr noce of th crItor or forf procedl an dipo wit Lear
.mo as or asunty bond for ths crr or forflt pnDBldl, In an ei datrmlnd by Leder, In It eoø dlicrøon, as baing en
. adi uste I'rv or bond for tho dJpui.
Aff GII. An of ths pncing evnl OG9W wi I8 to lI GUBra of any of th Indebtss or Guel'r,dle r bacm81 Incomptent or rekes or dli th validit of, or IJRIt &Ddlr. an Gua of the Inbt8l.
Ch, A matrial edra chang OCCW1 In Grator'a ftnacliii ciniOn, ar Lendar bellw. it proct of paen ormiøn of th Indebiu Is Impire.
. Lender In good fa beReveltf lncun.
PIøi. If any defeuJ ath thn a defat In palnt I. ciurabii an If Gra haa na be giv s naoa of . brach of the.8l1 proio of th Agreent wiIn th precedig twelw (12) mont, It may ba ourd If Grantr, af receiv wr node frm
I. iir demadlø cui of au dafeul 11 cua tha de'aul wit fiftin (161 da; or l2l If th cu niqulr mar than ftften (1151.da Immidlly in lIpa which Lear deB"" In Landr's eola dlscren to be aulii to cur th defalt an thlUaft
cin us Bnd compls ill nillna an naC8ry lIpIsuflent to produce coplian as ii u ni8lnably prøtl.
REMIE ON DEFAULT. If lU Evnt of Defa ODlI unsr th Agrime li any ti tteni. Lendir shall hiw 10 th
BBCtn pq undr th Idah Uniform Cominrclsl Code. In alfdillon snd witut Imlton, Lendiir may aXlrefs anyone or more of
ng rløhta an I'mad:
af De In th Evnt of Dilalt Lendsr ahaU ii or ci.un th Trus to OICut B wrin noce of suah diifBuJt end of
r'. e1eøton to caB the Prpert to ba BOld to aatffy thii Indbtednu, and shall ceUB8 iuch noti to be nicorded In th øffce of
thi , Dr of 8l county whelUln th Real Prpert. or any par thniaf, Is abatd.
. 'ra 1ø. l.nder may declare th entni Indebdnll, inluding any prepayen penilt whtc Grar wautd be niqulm
to P V,lmiidlat dUG snd payable, witut noce of any Icnd to GrantDr.
Aa Co Lender may requ Granr to deliv to Lendr aD or any portCln of tle ceRstera an an an aU aafiDBtø af tiand thar docuant nilatl to th Collltera. Lendar møy niqulre Grantr to aamble th Colli and mii It avabe to Lesr at a
pf to be cllønd by Landr. l.nder also ahall have fub power to enr upn tha prpart of Gnir to åke PØlan of anre VI tho Coal. If th Collaral contal1 othr goo no cove by th AgeøRt li th ti of nipon, Granr aiire..
.Le r may ta suoh otr gcodB, prov th Leder mike. reBSnBbli efl' to re th to Grator iftr nipoøu.
,seD Cc. l.r shall ha fu pawer to ee, ieii., tnf8r, or oterlu dell with th Colltea' or pn:Ðlidø th8lof In Lai"øown nae or th of Grant. Landir mø ieU the Coateral at puRc aden or prlaii eale. UnI th Coøt th&tna to decUna
epa y In vae or ii a. . ty CUmaly eod on II recogniz merke lAer wID glV Gl'ntr, an olh perana .. niqu by law,
I' la notice o' th tlmi en place o' any pubDo aile, or th tlma aftr which an pri sale or an athir dlspciltlan of th CoIeni
Is to be mide. Howavr, no notce nead ba provided to an pirson who, aftr Evt of Deul occ, inte Int en autntoBw an
.ii ment waivng that PBrsDn'a tight to notificaton o. sala. Tl requlrement of renale not shall bB mat If iue noUae fa glvan at
IBI tan ltDJday before tha tlmi o' th sal at dlspotlon. AU øxpll relatng to the dllton af tha Coateral, Including wIthut1m n th exp of retakig, holding, Insurg, pnipørlng for ule en aeWnl th Collatra, _hull become a par of th Indbtell
.18 d bV thIs Agreme and ahall be payable on demand, with Intere 8t Ih Note l'te frm d&t of expdi unlll reId.
Rl. Lander IhBI iu the right to hav a nllvr appoInt to take (Han of all or lUV pan of the CollmniL wi the
'pow r to pro an prerv th Collateral, ti opanite tha Collatral pnCldlng forscloiUf or 88a, en to ciUact th Rsnt frm thaCo ral an apply tho prooe. owr end ab th Clost of the recelvrøhlp. against tho lnb1dnu. The IUcelv may &8rv witbc If pamilti bV lew. Lendr'. right to th appoinent of a receiver ehaeidst whethr or nat th appant valu of th CoIIel'
ll ds th Indbtni by B subsntiBI amoun Employmnt by Landar Ghll net dlsquallfy 8 p&f8n fr sBNii as a rsca.
Co . Re. Apply AcCl. Lanlfir, 1irt iilf or thugh. relilvr, ma ciUeet the pant, re, Incoma, end l'nuea frm
th .Uaal. Lernur may et any time In Leer's discreon trnar any eoll.terøllnt Linder'a ow name or th a. Lender'_ nanøaand oolva tho payment, rente, Incomi, en renuBB threfrm and hDld th eae lI aecw far th Indeb1dnu8 or .pply It to
P nt of tha Indebtenau In euc orar o. piefarence ea Lender mBV detenlna. Insfa as the Collirai ci811. of aCClunt. ganørøl
Inta l.ls, Inurance pollclee, fnetient. chattl pSPlr, ChoBB In acton, or elmßer propart, Lander may demand, CIlllli recllp for,
iet , comprise, Blua aUG for, foracloUl, or realiz on thi Collllral ai Lendir may dermne, whetr or not Indebtedn.. or
CoUll ralla thn due. For tt purpD8, Lender møy, an behalf o' and In th nae of Granr, fecalV, open øn dlipc of mall
add iied to Grantr; changa any IldrB to which mall and piymenii 8J to ba eim; and endofle na18, chøc, draft. mony ordare.dol:u nt of 1Itle, Instrents ind Items pørtnlng to piint, shipment or etrag8 of an Co&tral. To facite caec, Leer
mav Gtify 8CCOun debtrs lind oblloni on IinV Collatera to ma psymen dlnicty to Lander.
o n Dllim. If Lendr alDDI to aiD an ar aU of th CoIl8tBl. Lender ir obtin a Judgment .galnst Grant for an deatncy
nia Ins on th IndebiidlU duu to Lendr aftr applictin of all amun rscølvd fr die fIe of the riht prde In 1l1eA nt Grani shal be liable for a døftclenay awn If th trancton døiibe In th eucton II a iifa òf llun or chttl
pIpB .
Ot Rlhi an Rsdl. l.r sli hawaII th rlght and remødea of a 81CUre endlr uner th provlalona of th Unlro
Col1 "ralal Coda. 88 may be am_ndad frm time to tie. In addldan, Lendr shll hsve en møy IirclUI any or all otr rlghb an
røe Ie It ma hi sVBllable at law, In equi. or otherwIse.
EI of Reinii. Exept.. møy be prohibited by appllcabl" liW, all of Lendir'a righ an remele, wheter evldinced bV th
Agni 8nt th Related Documanta, or by any other writø. shlD be oumuletJve an may be ex a1gularly or concuntlv. Elctn
bV nder to purue any mmedv ihaU not excude puruit of an otlr ramedy. and an ,,'a01l0n ti make exenites or to take actn to
parf m an obligation of Grer uner thIs Agrsme eftr Grator'e 'aOura to pIrfrm. ehill not efct Lendr's right to diclB a diifsultand iccliø It raedles.
MIS US PROVISIONS. The following mlscallineous provisIons ere a piirt o' th Agreement:
Ane sn. lb Agniement together with iny "lilslld Document. cinstu th enre undenindl end agrement of the pllrtlBB
lI tu th mattrs At fort In th AgrBBment No eltetlon of or amendment to thle Agrøment iil be effctle unlass glvon In wi1t1ng
imd gnd by th port or partai iiaught to be charid or bound bV th alteran or enimdment
COMMERCIA SECURITY AGREEMENT
(Contnued)P8g, 5
AUO' Fa..; ..... Grtor li.. tt PIV upon dend øD of Leer', l1 and exll8S. Jnlnø Lencroi nil81i
etmel' fe'ind Leder'. løgal exnsea, Incur In conneeton wit the enforcme of thle Agreement. Lender miv hl or PIVsomene ii.. to help enree1h Agreent end Grantor shal pay th COll and exes oflUch .nfrcent Co and 8X
Include Lender_ rellluble et' fan Bnd legel exnses whethr or not there Is a lawsui Includg renale atlf'' fe an
leal exns for bantc proceedIng_ Oncllng ef to modif Dr YBcate any ..utmBto st or In)unCIon), appale, 1M iny
Ilntolplld PD-judgmenl collotlon serce. Grtor elo aheU pay al court coøt an such additional f8 IS may be direct by thcour
QaHlI. C8 liBdlnga In th Ag~ ar for conVninc pu088 onl ii er no tr .. und to Inet or di. thpro Dl th Agr8n. ' .. .... .:' .. . .. ". '.' .' i .Ga... TI __It wR be ßO by fa la øppØ IØ Leer an to th 8X no pr by ..1i. ti
la of'" .. ef id wi rear to It CO af la prolona. Th AIf _ bu lIpt" by Le In th it IfId. '
Ch of Vii. ir di 18 . lauit Gr lIrB upn Leer. 18uat to sub 10 the Jun of th oo Dl Ad Coun,St of Ida.
.. W.. by ..r. lader ihan no be deiad to have wa eny rl uner th Agrme un si waiv Ie gl In wr
an .i; by Lende. No dela or ornlslo on th p$ af l. In malang any rlght sheD opat 88 a waI of such riht or an
other right A walvr by Lende of e prolon Of ths Agreme shal not preudce or conBtu . waivr of Lendr's rfgh oteris to
damand atll copUace wi that prvllon or an othr proIon of thii AgreBman No prlr welve bY LendBt, no an COe ofdealng beeen Lender and Grant, ahan conøtu . war or iny or Lendi right or of any af Grentor'a oblgena 8810 an fu
tr11ona. WtlUr the consnt of Lier I. require un th Aflresmsnt, th gradnø of such COn8ent by Leer In an Ii
shell not aolt contuing cun&ent to subsequent Inino88 where such consent II required and In all a.. auch cont may beIJnted or wltld In th Iole discon of Lendr. '
Not. Ar no l'd to be BIn unsr th Agement ahaD be giv In wr. an 8h be 6c whm ai:ll di
when øo receiv by telefalmD (unes. otlu requir by law), when depoete wi a naionly reognl ovt ao,or, If malød, wh deposite In the United Sla mel, aa first cls, cefi or registred ma postage piepald. dlreatd to th adr.a
shon naer th beginn or ths Agnme. An part may chings It addl' tor nooe8 undsr thlø Agrment by gIvi tonn wrIttnotlce to the O1er pal, øpeclfyng that th purSB of ths notce II to chiis th par's addreae. For notce purOS88, Gra agre88. to keep under Infrmed at all tl88 of Gnmr'i curnt addl'. Unls' atirwlse prdad or required by law, If thre Ii more thn one
Grentr, any notce give bY Lender to an Oranr Is døelld to be. notlll givn to al Grentors.
Po of AUi. GI' hantby appoint Lader 811 Gl'r'e tieble atn-set for tha purse of lJou an diinøcesry to pø emand, or to con the ISCUrl Inll grntd In th Ag..m.nt or to damen terminon of mtn of ot
se par. und ma at any tle, en wit fu allrf fr Granr, fi a urbn, photognph or ot øpuoon, af lí finc atmeni or of thle Agemnt for use .. a finacing stmen Grar wID rebue Le.r for iU øp far th
PeOft en the contnuation of th plSrfon of Lenders lIcu In In th Colliarsl.
8ere. If a cou of compe lurot ftdl am prn af th Agrem.nt to be 1l8al, Jmll, or un, II to an
ali.. th f1ni eha nct make tho offndlg prslon Ilgel, inald, Dr unenfn:le aa to an oth elratCl. If ,..ib,
th off prVIsIon ahan be cinsldred modd so th It blODme lllge, wDd an enroiife. If th offndi provllo can be somodlfed, It .h..ii be cildered deletd frm thlt AlJrnlnt Unlau Dtsrwlle reIred bY la, the lDegel, Invli, or unenll'bllt
of any pJDalon or tt Agøelnt shal no afct ihi ligalll. vaidit or enforoabUlty of sny oter prosin Of thl Agntemiint
8uGI an _løn. Subat to an Dmlt at In th Agrem on trll of Granr' Intreet ths Agreme shD be
blndlng upon and'lnun to th bimifti 01 th panl, th luai:88ra 8J ..Ign. If ownership of th Collat bellm.. Vl In øp8ln otr 1han Grar, Lender. wIthut notce to Grr, may deil wit Graø aucaerø wit rerenc to thi Agment and th
lnabdn88 by way of foaal'nce or 8Xnelon wit rølualng Granr frm th obligatons 01 th Agl'ent or Uøbntt I.de thelnebten8.
lur of .. lI Wf. Al I'prns, wamint.., and agømer ma by Gn In th Ag eh8U th exan end "Iv of th Aørement, shll bo conung In natu, an shell rø In ful forc and eff un ilI tIo
.. Grar'llndbldnell ihaD be pad In ful.
TI fa at 1J Ea. TIe II of th ..ne In th perman of tt Agran.
DE0.. The followin cøpltø WOrdl end term ah ti me folowing meanIng. when uu In 1h Aørinant Un .pameal
itø to thi cøry, øD nii: to dollar amcun iha maa ømcun In la monay af th Unlt Sts of AmCI. Wa en tIim
Ll In tha singuar shD Include th pluni, and the plUII shilllncluda th alnguJar, aii th ii may requ. WOl en tIrm no Dtarwiadaflnad In thle Agnimant ahall haw thii munlnga llbu to-suc tami In th Uniform Cornmiircla Coa: .
Agreem Th wor -Agremen- me8l th Coml' Saoty Agraent, 118 th CommrcaJ seur Alntmant may be Ild.dor modlfl fr time to ti, togetr wIth all ei and schdule athe to th Comercial Secn AgemBl fr tlma 10 ti.
Bo. Th word -Borrar. miiens Eagl Wate Company. Inc. an Incl all COIg81 end eimant aJgI th Nall aI thir
~..ol' and ..tg.
ea. ila Wlrd -COIIaI" m.anø au of Graa ri tf en Int In and to 81 me Coatera aa dNØ In tl rDll
Deorfpton saotn of tt Agrment. .
DaI Th word -Default- in the Dlflt 88 fort In th Agrsmet In the aøeton tfd wDøfau .
En La. Th wo -Enrcnmentl La- møan iiny snd ell øt, fadera and 10call, reii en ordceantllng to th iiotn of hum healt or th envlninm Incdl wl1 Urnon th Copnna ~ Rans.Copenadon, and LJIt Aot of 1980, sa amend, 42 U.S.C. seoton 9801, 8t aBq. (-CERCLA-., tt. Surf Amandan en
Re8Un Aot of 1188, Pu. L. No. 19-49 (-SARA -t, th. Haurdaua Mlterls Trsneportn Ac, 49 U.S.C. Beatn 1801, It sa..
th Resour Coneervatn and ReCOVlry Act 42 U.S.C. SøCIon 6901, et se., or oter applfble atbr or feer Iaw, .s. or.røguJll adopt puant thare.
lv of Dø. '1. wor -Evnt of Dlul ma an of th evø of dafauJt Biit for In th Agrent In the d8u1 BUOR of thAgl'l1t.
Gr. Th wo wGnr" meins eegJ Wate Co. Ina.
Gua. Th wo -Guørr" mee am guarenur, 8U1, or IccmmodBton pari of any or all af the Inddr.
. COMMERCIAL SECURIT AGREEMENT
(Contued)PageS
. Th word -Gua means ih guiraty trm GlIntar to Lair, inudg w1thCI lIiian a guUlnt of ell or put of ihG
N
H UI Si.. Th wo 'Haus 6ubnca- mean rnrl thit. beaaui of lhlr qlWiy, concon or physIcal,
c lca or Infecius c:harlciCl, mav C8U or pose . pr ar po.mllil ti to bumn healt or lh environmt whe
Imp peV 1I8d, trat. 8t cIBd af. genll, manufd, nR8fZrbd or Dthrwla had. Th wor -H8ZrdOUSSu ce- ar uied In lhlr vary broade 881' and Inlude witout llon -nv and sU h8Z0U or toxic øubltnce, mlliløll orW as define by or liste under th Enroenl L8W1. The18rm -Haous Subce.- II Includa, withut I1ltan, petrlsuman etrlsum by-rouat or an fraaton tiof an aabal1s.
Ind . The word -Indabtnell- miians 1h Indebt 8Vøn by d1 Nci or Rllal8d Dooument, InClludtg all pilncel and
.in ea togst wit ill othr Indabtlne and aDB and 8X11 for whIch Grlmor I. rliponsble under ths Agrmant or under an of
th Relatød Daauments. Specica, without IImlttJCln, Indabdnas Inclsll sU amoun that mav be 1ni: asll by the
er -ellanillztlon provlslon of tJ Agniilmiint.
. Tho word -l.nder- maana Idaho Baldng Companv. It SUÐCl8Sora and _p.
. Th word -Note- masna th NlI eX8eu by EBgle Watr Companv, Inc. In the prnc amoun of $1 "10,000.00 dated Dece07. togetr wit all reneals of, exona of, modlfcat of, ninsnlng at, oaoDdaons ot. and lubOI1 fo th na or
t eBremant.
lit. Tl word .OWlr- mea Eagle Waler Company, Inc.. Th w0r -Owr- and -Bower- 8n usad Intercgiiably.
. Thii word -Propart' mBl sU of Gnir'. righ ti an lnBt In end lØ 1111 th Prpa .8 dllcr In the -Co&Ulra, OM ptln- secton of thl1 Agremint.
Rea Pr. The wClrdl -RliøI Prope- maan th re propart, Inrl8t an rlgh.., il fur desonbd In thIs Agement.
Ra Da. The word -nelatd Documnts- mean sU prmlary no_, andli agreemets, loan egnmøn, envnmlll
19 ant, ØUSrlntas, 88curty agrøments, morsßl, deedi of 1It, Ilcurl duds. coal8a1 mortge, end all other lnllla,
a9 menta and docmint whalhar now or hantaf eidg, exaut In connectn wit thlilndøbtdnll.
a "HA ReD AND UNOOD ALL TH PROVISIONS OF THIS COMMERCIL SECRI AGREEI AND AGR TO ITS8. AGREB IS DATE DEClER 7. 2007.
_1l.."..IUJD.. e.---...ilI_. ....._ .1I1:_1H
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Exhibit ItA"
, '
n..caipl:ii fot' Eai" Water Co.pan)' WeD No. ~ .
Å portion or aha 1''W4 5DCon 15 T.4N,. R.iir. 80M Eagl IdQo.
Beam., it lhe iqøttwost comel ar 8eollOl IS, T.4N.. aia. 80M: Ada. O:ly. JiI .
Tbc. Soutb OO.'OY26"SQ305.6618ell1ong th secon Una hl seeu 15 _l' t. a poin
Thna Nail 89-07* i'" S;'t 684.74 fet to a ~ hlci ltl1,pJo 1' lU POJN OFB50J.O:, ,
11enclj:ntlulg Net a9001't.s'BlIl97.90 feet 10 a K iøob iiop1ø;
"ICD Saulb OOll39'''B''~ J03~06 rc: 10 anhopl
"
. lhci iåut aga ii t 57'wclt 91.93 .t la au ln p1
tli: Nort 001138'53" 'Wol iois. fe,tlò th plii ofblSSiiublg.. ,
'AJ With a 20 toot C:1LCD ror iu aw e¡t ad di exs6C pave prvaëstr. "..
.'
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'Eibit IIBII
. ,
Descr:lpt:ton .for laale tlate', Coman wéll1o, 6 '
A, pàiicn of the Southwest quarte. of me Southwest qiarter of Sect::Laa B, ~wnship l
')l~:i', Rage l' Bat, Baise Meridi, Ada Coty, i:dlUa, more piútlcu;Lar.iy dascribed 'as'£~ii. " .~ .
.
CCen:lg isl: the qu~ter carner cCln to Section '7 end. a. Townhip " North; Range 1Base,' Soise Mer.1an; tbence . ..
South DO.35'37" Weat i,36ll.75 feet along the sectioQ lin cam to said Sections 7 iu a '.
tò . iu:lreri piI on the Southerly 'righc~af-way Qf State Highway l4 (Weat Si:t:e St:eet) i
thence
.~ B8D46'33" Sast, 367.20 feet: iimi said right-at-way Ilnwenl:, theACe
,cotinuing ålong said right-of-way, Northeasterly 300.12 feet (formly 300.11 feet),'
aioiig:th'arc of a cu to i: right, siid curv.bang a central angle of OOIl4S'OQ",.'aradius of 22,2BS.;U. feet and a lang chC?i: which bes Jrl: 89"09'O'tu last, ~OO.U fee
(foJlY Ba: '89°0'1'51" )East. 300.10 feet) to an lmn pin: thence .'
South OOIl~:6'5B" Wesi:, 20,00 feet to an ir p':in. said pin being the ~ POtm orBBGI, thence ..
Scütb' 00.16'59- Wast 80.00 feet ta an iroD pin, thence
Soutb 900DO'DDP' West lS3.12 feet to an iran pin, tbence
Uainr.riy 26.11 feet along the arc af a curve to th r.ight:, sal~ ~ hag a. i .
cent:ål angle of 14 .57' dO-, a radi.us of 100. DO feet and e long chod' 'which bears North .'
iiCl34"11n Bast, 26.04 feet to an .iron pinJ t:ce ' . .' . . · .":. ..:
Nor~aBteriy 33.67 feel: along tbe arc af a curv to the left, said curve hav.a cen~,l
ii:Lof 19C103'01-, a raius of 101.28 feet:, an a long ch which beat North 09"31D30-,. .' tBut, ¡13.;52 feet to an iron pin; thence . , :'.
. Hortb.ÐooQO'OOIl Bast 19.29 feet to an iro pin; thence .
Ncieas,t:erly'173.3S feet; aleDg the ilrc of a c:e to i:e :rght, sald cu ha a
cenei;al anle. Qf DOCl26' OlD. a radius o:f 22,858.31 feet -ail a long chord which beårii Nortli . .
89D3,7'3011 Bast, 173.3S ~eet to an iri; pin, said pin being the RD PO~ or BBG~ING,: '. .'.
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)IXçii" 'rRSRC an ditch Dr road rights of Nay..'
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IDSO& DCC1 ONLIN FILING#: B 2007.1038135-6 Page 1 ofl
UCC PJANCIG STATE
BLCT0NIC FlG'"
IDAHO SEARY Of STATE
121111200712:06:10
$3.00
Filin Numbe
B 2001-1038135-6
BOISE. .ID 8371 1-029 mE ABOVE SPACE I~:~ FI OFFes USB
1. b!l's Ex FU LEG NÄMS: - iner ôñy one debtor name da or 16) . dõ not abbrevite or cobine na~a. R :
OI ~GLEWATE~OMPAN.1N.
0;
i 72 W. STATE STR USA
'.o. :402 S. EAGLB ROAD MGm 10 USA
. 'A cover e 0 owig col atii:
'AL ACCOUNS AND EQUIME; WHER AN OF TH FOREGOING IS OWN NOW OR. ACQUI LATE AL
ACCESSIONS. ADDITIONS. RELACEM, AN SUBSnnONS REATIG TO AN OF mE FOREOING; AL
'RECORDS OF AN KIN RELATIG TO AN OF TI FOREGOING: ALL PROCS RETIG TO AN OF TH
FORBGOING (ICLUDING INSURACE. GENER INANGmLES AN Onm ACCOUÑS PROCEES)
S. xtf!XTN biiiGNXtiO (ifappucaGJe):
(¡LESSEESOR (¡CONSIGNECONSIGNOR (IBAIEIAIOR t ISELLERlUY. 18 to 0 ed rree )(or. to S 0 anD s
reord iuth RE ESTATE RECORDS. Atth Addum (ADOrnONAL fEE) (OptiOD) IIAl1 Debto (JDebtor 1 (JDebt
(if cao)
A:
ll l.~ 11 "'4-
,ietrëây gontë ft onii XM Docent
1111111111111111.11_1_ \l1 - 5ww l" I.1212i 8139.88 AI PiU,. II 2li
.../
ht://ww.sos.idao.gov/serletlransfonnDoc?U=%5C20071211 %SCXML_L.ßASIC_0734... 12111/2007
(', (
RECORDATION REQUESTED BY:
Idaho Baking Company
Eagle Offce
402 S. Eagla Roid
Eagle, 10 83616
WHEN RECORDED MAIL TO:
Idaho Banking Company
lODn Oporatlona
PO Box 44629
Bolso,ID 83711-1629
1?i; c. cia-ii'..\.:.-U 107 I (p 3'13("12(11 IIl1 SPACE ABOVE THIS LINE IS FOR RECORDER'S USE ONLY
-------~~llllIlIlllll riiim II
.000000000025001835034012072007 ·
DEED OF TRUST
THIS DEED OF TRUST Is-dated December 7.2007. among Eagle Water Company. Inc., whose address is 172 W.
Stae Street, Eagle, 10 83616 ("Grantor"); Idaho Banking Company, whose address is Eagle Ofce, 402 S. Eagle
Road, Eagle. 10 83616 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"): and First
American TIe Company of Idaho, Inc., whose address is 9465 W. Emerald. Suite 260. Bolse. 10 83704 (referred
to below as "Trustee"). .
CONVEYANCE AND GRANT. For valuablo cansldataUan, Grenlor does hsroby lrovOCåblV grunt, biigain, sell and convay In tr, with powor of
side. to TruOB for tho benefi of Lander as Bonøflcliiry, all of Grantor's right, tille, end Interes In and to. the fallowing descrbed raiil propert,
together wIth 811 existing or subsiiuantly erected or aftd buildings, Improveents and fixturs: all Basements, rights of way, end
appurtenances: all water, water rights and dItch rights IInc/udlng stack In UtD/tiBS wIth ditc or Irrgation rlghtsl: end all other r1ghtsihrayeltles,
and profits reist/iig to the rel propert, Including without limitation all minerals, all, gas, gBOihenna/ and similar mattrs, ( e "Real
Proper") located In Ada County. Ste of Idaho:
See attached Exhibit" A" and Exhibit "B"
The Real Propert or its address is commonly known as No Known Address, Eagle. ID 83616.
Grantor presently asigns tD l.ndor lalso known as BeneficIary In this Caad of Trust) all of Grantor's right, lillo, and Interest In and to all pront
and futui leases of the Propert lind sll Rente from the Propert. In addition, Grantor grants to lender a Uniform Commercial Coda sBCurlly -
Intarest In the Periional Proparl and Rents.
THIS DEE OF TRUST, INCWDING TH ASSIGNMENT OF RENS AND THE SECURrr INTEST IN THE RENS AND PERSONAL PROPERlY,
IS GIVEN TO SECURE lAI PAYMEN OF THE INDEBTENESS AND (BI PERFORMANCE OF ANY AND All OBUGATIONS UNDER THE NOTE,
THE RElTED DOCUMENTS, AND THIS DEE OF TRUST. THIS DEE OF TRUST IS GIVEN AND ACCEPTE ON THE FOllOWING TERMS:
PAYMEN AND PERFORMANCE. Except as otherwlBe provldad In this Daed of Trust, Grantor shell pay to Lender all amounts secured by this
Deed of Trust as they become due, and sholl strlotly and In II timely manner parfrm all of Grantor's obllgatlol1 under the Note, thIs Deed of
Trust, and the Related Documents.
POSSESSION AND MAINTANCE OF THE PROPERTY. Gr8ltor agraes that Gr8ltor'ii possessIon and uee of tha Prpert shaH ba gavemed bV
aha following provisIons:
Posøsslon end Usø. Until tha occurrenoe of an Event of Default, Grantor may (11 ramaln In P09sosBlon and control of the Properl; 121
use, operata or mønagB the Propert; end (3) collect the Rents frm the Prpert. The following provisions relste to the use of the
Propert or to other limitatins on the Propert. THE REAL PROPERlY EITHER iS NOT MORE THAN FORTY 1401 ACRES IN AREA OR IS
LOCATED WITHIN AN INCORPORATE crr OR VIllGE.
Cut to Melnbn. Grantor shall maintain the Propert In tanantible condition end promptly perform all repairs. replacements, and
malntenanca nacessary to prasarva Its value.
CompliencD Wi EnnmentBl Laws. Grantor repreents and WelTntB ta Lender that: l1 Ourg the period of Grantor's oWl'rshfp of
the Propert, there has baon no use, genaratln, menufactura, 8torsg8" trabnrint, disposal, relliasB or thrsati;nad I1leB8B of any Hazerdaus
Substace bV any peraon on, under, about or fróm the Propurl¡ ~2) Grantor has no knowledge of. or reuon to balleva thet there has
bean, exept as prevlouslV disclosed to and acknwledged by Lender In writing, (a) any breach or vloletlon of sny EnvIronmental Laws.
(b) any use, ganarBtlan, manufactura, strage, traatment, dlapasel, relaBS8 or threatened releasa of any Hazardoua Substance an, under,
about or from the Propert by any prior ownal' or occupsnts of tha Propert, or lei an actual or theetaned litigation or claims of any
kind by any parson ralotlng to such mattrs: and (3) Except as previously disclosed to Bnd acknowledged by landiir In writing, lal nalther
Grantor nor Bny tanant, contracmr. aBant or other authorized usar of tho Propert sheD use, generate, manufacwra, stare, treat, dlposa of
Dr releasB any Hllrdous Substance on, undar, about Dr from tha Propart¡ and (b) anv such activIty shall be conducted In campllsnca
wIth all applicable faderal, stits, snd local lliws, regulatIons and ordBncea, Including without limitation iil Environmental laws. Grantorauthorizes Landarand ilJ'egents to"anter upon.tha Proparl to maka such.lnspaotlons:and'tits; IÍt'Grantlir'ii Eipiltia; es.,Leni:errnBY' da'lim
DEED OF TRUST
(Continued)Page 2
appropriate to determIne complancø at the Propørt with thIs sectn ot tha Deed of Trust. Any Inspøctkns or tets made bV Lendr ihan
be for Lendiir's purposes only and shall not be consired to create any reonslbllty or liabIlity on the part of Lender to Gra or to eny
othar person. The reprentatlons,end warnties contelnid harain are based on Grantor's due dIDgence In invegatIg 1he Propert fo
Hiwaus Substnces. Grator hereby m releasas iind waives any fure claims against Lender for IndemIty or contribution In the
avent Grantor bacomas Dible 'for cleanup or other casts undør eny such laws: and (21 agrees to Indemnify, defend. and hold harms
Lamlir egalnst any and all claims, losses. liailties. dimages.. penalties, end axpenses whIch Lender may directly or Indirectly sutin or
suRar resulng frm a breach of this section of the Deed of Trust or as a consequence of any use, Ðsnrallan. manufiicture, storage.
disposal, ralelSa Dr threatened rieese occurtlng prior to GrentDr's ownrshlp or Interest In tha Propert. whether or not the sama WBS or
should hava bein known to Grantor. The proviIons Df this section of the Deed of Trust. Including tha obligation to indemnify and defend,shall SUMIIB the payment of tha Indebtedness and the satlfacUon and reconveyenca of the lien of this Oed of Trust lind shill nDt be
iiffectad by Lender's acquisItion of Dny intrest in the Propert. whether by forøctasura or otheiwliie.
Nutll'. Was. Grentar shiH nat cause. conduct or pennlt eny nuisance nor commit, parmlt or suff any strppig of or waite on orto
the Propart or any porton of the Proert. Without limtIng th genflral! of the foregoing. Grontar wDI nat remove. Dr grant to Bny othsr
pertthe rit to remove, any timber, minrals (Including 011 end gasl. coal, clay. scorle. soli. grvel or rack products without Lenders pdor
writt consent.
.~.-_..,.......,Remval.of.lmprV8mDnts. - Grsntr.shDII-nDt-demollsh.or.removs.eny.lmprovaments.rrom.1he.ReaI.erapart~wlthout .Lender.! ,prlr.wrltt ,___.,'"
consont. As II conditn to the removel of Bny Improvements. Lender mav requIre Grantor to make arrangements sDtlsfactory to Lendr to
raplece such Impvements wIth Improvements of at laast equal velue.
Leer's Right 10 Enter. Lender end Lender's agentB end reprøsentatlvBS may onter upon tha Roal Propirt at 011 TBDIonable tlmei to attim
to lider's Inblre and to Inspect the Reel ProPer for purasBS Df Grentor's compliance with the terms and conditions at th Deed ci
Trust
çompce wl Goverentl Requirments. Grantor ehaU prmptly comply wIth all laws. ordances, and reguletlon, now Of hefter
In offoet, of all governental authorilles appHi:obl to the UBO or occupani:y of tha Propert, Ini:ludlng wllhaut Hmltatlon, tho American
With DlsablUtlee Act. Grantor may contost in good faith eny such law. ordinance. or regulation end withhold compliance during 8ny
proceeding, Including opproprløt appeals, so long as, Gronmr ha notified lender In writig prior to doing 110 and so long es. In laer's
sole opInion, Lender's Inteests in the Propert are notjaopardlze. lendar may requIre Grator to post adequeto securIty or a SUlty bond,
reasonably satisfactory to Lender. to protectl.enter's Interest.
Dut tø PniteCl Grantor agres nether tc abiindon or leave unatlendad thii Propert. Gnitor sholl do all other acts. In addition to those
8$ &at fort above In thIs section. which from tha character and use of the Propart ora reusonably niicasery to protect and preserve theProprt.
DUE ON GALE .. CONENT BY LENER. l.nder ma. at lar's optIon, doclarø Immediately due an payable all BUI ncure by th Død of
Trust upon the SIe or trensfer. without Lender's prir writtn consent. Df all or any part of the Rea Propert, or any Inblrut In th Reil
Prpert. A 'sale or transfer- maans the conveyanea of Reel Propii or any riht, title or Interet In the Real Propart: whether Iaga, beneRcJiior aqultbla; whether valuntery or InvolunlÐ wheth by outht sole. deed, Installment aole contract. land contrai:t, cantrct for ded,
lauehold Interet wit e te greate thn threii 131 ysii, 'Iaass-optlon contrct, or by sale, BSsTgnment. or trnsfer of any bBneflclellnllt In
or to'onv lend iret holdlng tltla to tho Reai Proport. tir by any othør methd of cDnveyance of on Inlereit In the Real Propert. If iiny Gnmtor is
a Ilorpriillon. partørhlp or limIted liIlity company. trnsfer also Includes eny chonga In ownershIp of more thn twenty.fle percent 125%1 af
tI votJl1 stÐck, pørtarehlp Interets or limited nøbllty i:ompiiny intørølS, as the case may be. of such Grentor. However. thIs option sholl not
be exorcisd by Lender If such exerllllB Is prohlblied by federal law or by Idaho law.
TAXES AND USNS. The followin provisions r.llltlng to ti talC end liens on the Propert ar pert of thii Deed of Trust:
Paymom Grator shaH pey whin dua (an In all evete prior to deUnquencyl all tas, speci tixei. USBiment, chrgii Iincludlng
watsr and sewerl. fine and ImposItions levisd against or on eccount of the Pnipert. and shaD pay whan due all c1eims for work doe on or
for servIces rendered or material fuished tc the Propart. Grentur shall maIntain the Propert free af alllians having priority ovar or equal
to tha intest of Lender under thIs Dead of Trut, except for tha nan of taxø end asseisments not due and excpt es otherwe provldad
In th Deed of Trut.
RIght to çonte. Grantor mcy wIthhold payment of sny tax. assesiiont, or claim in cannactlan wllh a good faith dIsput over th
obDgotlon to pay, 10 long as Lender's Interest In the Propert Is not Jeopardizd. If B den arIses Dr Is flied ll e reeult of nonpment,
Grar shall wlthn flften (151 daya eftr ths lien erises or. If a lien Ii fied, within fiften 1151 days aftr Grentor hes notice of th mlno.
secura 1h d1chørge of the Ilin. or If requasled by l.nder, deposit wIth Lender cash or a suffcIent corprate sursty bond or other sacurlty
satlsfectory 10 Lander In an amount suffi:lentto discharge 1h nen plus any cost and rsasoneble attmaya' fess. or other chDrgu that
could acce øs a result of a foraclosure or sele under tha lien. In any iiontet, Grantor shaD defond Itelf and Lender lind shill satify ii
adviie judgmant bsfore enforint"agalntthirPropart;- Grentor' shøll"namEl tender'ii 1m "additIonal' obllgøe under any .inity bond
fumlshed In 1h contet proceedings.
Evii of Payman Grantcr shell upon damand fumlsh to l.ndar satisfactory Bvldenc8 of peymiint at the tll or _amets and ihiil
auUorl:i 1he øpproprlata governmental offclel to delIver to l.ndar at any time a wrItten statDmant of th 1aXD8 and osse8smentl egelnst
Uia Propert.
Nottaof çanactin. Grantor shell notify Lsnder at IBast fifteen 1151 daye before any work Is commenoed, inv SørCSll are fUmi. or
any materiels ør suppllad to t. Propart, 1f any mechanlc's Uen, mstsrlDlmen'a lien. or othsr lien ~ou'd ba issert on account of ti
work, serices. ør meterlals. Grator wil upon request of Lander fush to l.ndor advane asurenries satisfactory to Lender 1h Grantor
can Dnd wHI pay the cost rif such fmprovomonts.
PROPERTY DAMGE INSURANCE Tha fallowing provisIons relating to Insurng the Propert ere ø part of th Deed of Trust.
Malntaniince af Insurae. Grantor shell procure end melnteln pallclas of flre Insurence with standard eicded cavarege endcriiimint on
,. faIr vDILlI bails for tha full Insurable value iiavørlng all Improvaments on th Real Prapart In an amount sufclant to avoid appllctian of
any t:oiosl'nca clauss.' Bnd with a stsnder mortgsBBs cleuse In fevor of Lender. Grentor shaH also proaurB and malntøn comprehenlva
uenllal lIabmty Insurence In suh cavarege amauntB as Lender may request wIth Trustol and Ltndir being named IS additionl inureds Insuch DBbillty Insuranca policIes. Additlanally. Grantor shan malntala such other Insurence. InQludlng but not limited to ha, busnø
Interrption, and boiler Insurflnca. as Lendar may rousonably require. Pallclus shall ba wrIttn In form, amounts. coverages and bssis
-. rsasoniiy ecceptebla to l.der iind'issuedby acompanv or cDn'penllis reasonably 'iiccøptabls' t.o 'lander.-' Grantor, upon request cl i:d.i';'" ..
'.
("DEED OF TRUST.
( Continued)Page 3
wil deliver to Lender from time to time the policIes or certtfcetes of Inunce In farm satisfactory to l.nder, Including stipulations that
coverages will not be cancelled or diminIshed without et least tan (10) days prir wrlttn notice to Leder. Each Insuranca policY' also shall
Include an endorsement providing that coveraga In faor of Londar wll not be Impalrad In any way by any act, omIssIon or default of
Grantor or any ather plln. Should the Rea Propert ba looB1d In an arae designated by tha Dirctor of the Faderal Emergency
Management Agency as a spcIal flood hazn: area, Grantor BgraBS to obtain and malntBn Fadaral Flood Insurance, If avallablEi, for the full
unpaid prIncIpal balanca of the loan end any prIor liens on the propert securing tha loan, up to th miimum policy limits sat under the
National Flood Insuranca Program, or aa otherwse required bV lander, and to maintaIn suah Inuranc for the term of the loan.
Appllcadon of Procaeds. Grantor shall promptly notlry Londer of any loss or damage to the Propert. Lendar may make proof of loss If
Grantor falls to do so wIthIn fiften 1161 daVS of the cesualty. Whther or not Lender's security Is Impalrad, LeMer may, at !.ndr's
election, recalve and retiin the proceads of any Insuranca Bnd apply the proceeda to tha reduction of the Indabtednaa, payment of anv lIan
effactlng the Propert, or the retotion and tepalr of the Propert. If Lender elscls to apply lba proceeds to rsstnitlon end repaIr, Gnintor
shall repair or replace the damagad or desyed Improvaments In a manner aatJafactory to Lender. Lender shall, upon ut1CtDry proof of
such BXendlta, payor reimburse Grantor from the proceeds for the reesonable cast of repaIr or retoratlon It Grntor Is not In dafault
under thIs Dead of Trut. Any proceeds which haw notbaBn disbursed wIthIn 180 days aftr theIr recalpt Bnd whIch lander has not
cominttBd to the repelr Dr restoration of the Propart sheH bo used Iirst to psy any amount owIng to Lender under this Deed ofTrust,1hen
..-..,-----to-PBY-Bccrued.Inteest,_and_the_remalnder .-If-eny,-shall.ba.applied-to.the-princlpal-belence-of-thø.Indebtednasa.-If-i.nder-holds-any........-
procaeds'a'ftr p'åymeiitln full of the Indål:tei:ess, such proceeds shal be paid to Grantor eËiGrsntir's Intereiiti niy eppiiär;
Grentar's Roport on lnsurence. Upon roquest of lander, however nat more than once 0 yosr, Grantr shall furnsh to Lender a report an
eich existing policy of Inurnci showIng: 11) the neme of tha Insurer; 121 tha rIsks Insured: 131 110 amount of the policy: (4) the
propert Insured, the then current raplecement value of such propert, and the manner of datiirmlnlng that value: Dnd 161 th llxpJrtion
date of the policy. Grantor shall, upon requast of Lender, haw an Independent appraIser satlsfootory to Londer determIne th cash value
replacement cast of the Propert.
TAX AND INSURACE RESERVES. Subject to any Ilmltstlons sat by sppnceble law, Lender may requlra Grantor to malnteln with Lender
resBrves for payment of annua tlles, assessments, and Insurce premiums, whIch reservee shall be created by advBnce peyment or monthly
payments of a sum astlmatad by Leder to be suffcient to produce, amounts at laDst equel to tha raxes, asessments, and Insuranca premIums
to ba paid. The resarva funds shall be hald by Landar as a general depaalt from Grantor, which Londer mey satisfy by paymant of the wies,
assassments, Bnd Insurnce preiums requlrad to ba paId by Grantor is thsy become dUB. Lender shall have the riht to draw upon th'T8erve
funds to pay such hams, and Lender shall not ba reuid to determlna thii valIdity or Dccuracy of eny Item bafora pavIng It. Nothing In the Deed
of Tn.st shell be construed as requIring Lendar to advance ather monIes for such purposes, and Landar shall not Incur any lIablUty for anything It
may do or omit to do with respact to the reserve account. Sub1act to any IImltetions set by sppllcebla law, If the reserve fundi disclose s
shortage or deflclanciy, Grintor shaJl pay such shortage or deflclenay us raqlJrsd by Lender. All amounta In the riierve account lUll hereby
pledged to furter secure the IndebtBdnese, and Lender Is hareby aulor1zad to withdrew Dnd apply such amounts on ila IndebtldnEl upon the
occurrenca of an Evant of Default. Lander shall not ba rsqulred to pay Iny'lntare or earnings on the rsserYe funds umen reqlJre by law Dr
agraed to by landar In wrIting. Lender does not hold tha reaerv funds In trst for Grantor. and landar Is nat Grantor's agent far payont of the
taxes end Dssessments required to ba paid by Grantor. .
LEDER'S EXPEJDrrURES. If any action or procidlng Is commenaed that would materially affat Leder's Interet In the Propert or If Grantr
fells to ctmply with any prolson of ths Deed of Trust or snv Relata Documents, Includng but not limited to Grntor'a failure to iIscharge or
piy when due any amounts Grantor Is requrad to dIscharge or pay under thle Deed of Trust or an Aaletad Documants, Lender an Grentor's
bahnlf may (but shall not bo obllgatad 101 tab any action thar Lendar daema approprIate, Including but not Ilmltid to discharging or paving aU
taxs, liens, security Intiirasts, anoumbrances and othr claims, at any time lavled or placad on the Proper and payIng all casts for Insurng,
maIntaining end preeervlng the Propert. All such expandlture Inourred or paid by l.ndar for such purose wil than baar Interest at the rate
chargad under tho Note from the detB Incurrd or paid by l.ndar to the data of rapaymant by Gl'ntor. All such exenaes wm become 8 part of
the Indebradnsss Ilñd, at Lander's option, wil (AI be payable on demand; IB) be sdded to the balance of the NDtå and be apportoned among
and be payebla wIth any Instellmant paymants to become dua during either It) the term of any appllcabla Insuince policy: or (2) the
remaInIng term of the Note; orlCI be trated as a balloon paymant whIch wil be dUB Bnd payabla at th Nota's maturity. Tha Deed of Trust
also wl1 secure payment of thase amounts. Such right shall ba In addItIon to all other right end remadllIs to whIch Londar may be enttled upon
DBfBult.
WARRANT: DEFENE OF TILE. The following provisions relaling to ownershIp of rhe Propert Bra a part of thIs Deed of Trust
TJ. Grantor Werrants that: (a) Grantor holds good and markatable title of recon: to the Propart In fae simple, free and clear of aB Dens
and encubrsnces athar than those aet forth In the Real Propart dsscrlptlon or In any title Insuranca policy, Iitle report, or final titl opinIon
lesued In mcr of, ond accepted by. lendar In connsctlon wIth this Daad of Trust, and (bl Grantor has tha full right, powar, end authorIty
to axacute and dellvar thIs Deed of Trust to Londer.
Dofanse of TIe. Subject to the exception In the peragraph above, Grator warrnts and wil forewr defed the tltls to the Propert against
tho lawful claIms of 811 persons. In tha evant any actron or proceeding is commenced that qus5tons Grentor'a title or th. Interast of
Trustae or Lender undar this Daed of Truat, Grantor shell døfand the actIon at Grantor's expanse. Grentor máy bs the nomina pa In
such procBedlng, but Lendar shall be entitled to partcipate In tha proceeding an to be represented In th proceeding by counsef of
lander's own choIce. and Grantor wil diive, or causa to be dellverad, to Lender such Instments as Lander may request frm tlmo to
time to permit suah paiclpatlan.
CompBaca WIth Laws. Grsntor,wsrrants thet tha Propsrt Bnd Grantor's use of the Proper complies wIth all axlstlng appllasle laws,
on:lnances, anä i'gulatloni of governmental authorltles. .
Survl of Rapriiontaans and WarrntIes. All reprsentations, warnintles, and egreemenlS mada by Grantor In this Dead of Trust shallsurvve the axscuton and delivery of this Caed of Trut, shall be contiuIng In nature, and lIhall remeln In fu force snd affact until such
time es Grantor's Indebtednss shall be peld In full.
CONDEMNATION. The followIng provisIons relating to condamnetlon proceedings Bra a part of thle Dead Df Trut:
Proceedigs. If any prcaedlng In condemnation Is fIad, Grator shall promptly notify Lender In wrIting, and Grantor shell promptly take
such steps as may ba necessary to diifan the actron and obtain the awar. Gnintor mElY bEl the nomInal psrt In such proceedng, but
Lender shell bB Bntla~ to partcipate In thB proceedIng and to be ropresented In 'te proceeding by counsel of Its. owrl choice, llnd Gnintor
':11 ØIlII,!erar ~uGa wJie dallveired ,tø. .LÐ"~ør. suc!1, instrants and dt;cuten~tlan,asmay, be requeated by Loniler fromtlma ,to time to
pennlt sucn partclpstlon.
DEED OF TRUST
(Continued)Page 4
AppJfimti of Net Priicaedi. If all or any parl of the Propert Is condemned by emInent dom&ln proceedings or by any pracating or
purhlle In lieu of condemnatlan, Lender may at it election requIre tht all or any porton of the mit prDceei:s of th award ba appUed to
tI Indabtednca or the repiir or resrlln af the Propert. The nat procaadi of tha award shall mean the award aftr payment of &II
rell$onabla coll.. expnses. an attrnys' fllH Incurrd by TrulJ or Lender In connection wIth thll condemnatin.
IMPOSITION OF TAXES. FES AND CHARGES BY GOVENMENAL AUTHORmES. The following pravlslans releting to governmental taxe,
fliBS ind charges ar ø P.ii of this Deed of Trust: .
Curt Texas. Fees an Chges. Upon requiit by Lender, Grantor shall execute sui: docuents In additIon to thIs Deed of Tnit and
ta whatear othør action Is requested bV Lendør to perect and continue l.nder's lii an the Real Prpart. Grantor sh.dl ralmburs
Lende rar all teas. es descrbad below, together with all expense Incurrd In recordng, perfecting or continuIng this Deed of Trust,
Including without Ilmltøtlon all telC, fees, documrmtBry stamps, and other charges for tBcordtng ar reglsterlg thi Daad of Trut.
TaUl. The following shal conItu taas to whlh this section applies: (11 a ap8clßc tex upon th type of Deed of Trut or upon all or
any part of the Indebtednais secured by th Deed of Trust; l2. B speifc tax an Grantor whIch Grantor Is authoried or requird to
dadUQt from peymants on the Indebtednlls secud bV thIs tye of Deed of Trust: (31 B ta on ths tye of Doad of Trust chsriieable
lIgaInit the Ler or th holder of the Nola, end (41 a spicTne tex on aU or any porton of the Indebtedn8& or on payments of prlnclpiil.........._.... ~nd Inter8S~ made by Grantor. _____.
Subsnquii TIlXOB. If anv tll 10 which thIs secton spplie is enacted subsequent to the date of th Dead of Trust, thi event shal have
the iame effect eS an Event of Default, and Lender may exercise any or all of ita svallable tBmedles fo an Evant of Default as provided
balow unless Grentor eithr t1 pays thl1 ti balora it becomes delinquent, Dr (21 contets the te os provlded above in the Taxes end
Uens ascUon and deposits wIth Lender cash Dr a suffciint carporate surety bond or other sacurity siitllaclory to landør.
S¡CURITY AGREEMENT: FINANCING STATEMENTS. The following provIsions reating 10 thIs Deed at Trust aii a security iigniement an lJ pllrtof this Dee of Trus
lseClurlty AII.mont. Th Instrent shall constltutr aSacuri Agremint to the extnt any of th Propert consItutes fbtures. and
Lendll shill hive aD of the rights ot II secured plirl under the Uniform CommercIal Coda as umendad from time to time.
$øcu Intarll. Upon request by Lander, Grsntar sha talce whatur action Is reques1ad bV Lender to perfect Bnd contlnua Lander's
securlty Interast In the Renti and Personal Propert. In addllon 1D.racordlng this Ooed of Trut In tho raal proport roco, Lendor may, lit
any t1ø lind without furter autharlztlan from Grantor, fie exeeud counterpsns, caples or reprductIons of this Deed of Trut lI a
flninolng etitent. Grantor sholl reimburse lader for øt expens Incurrd In parftfng or continuing this securty Interet. Upon
default, Grentor shaH not remove, sever or dølach the Personal Propert frm the Propert. Upon dellult, Gnintor shall ussembleanv
Periional Propert not affxed to the Propsrt In u manner end lit e place resiionably convanlent to Gnintor Bnd Lendar and make It avølleble
to lender wIthn thtBa (31 duvi aftr receIpt of wñttn demand frm Lenderto the extent permItted by uppllcale IBw.
MdrIØl. The mailng addr8llI of Grator ldebtor) Bnd Lendar Isecunid porl from whli: Information concernIng tho securty Interet
giantod by thllI Deed af Trust may be obtained (each ØI requIred by tha Uniform Cammircløl Codel ore BS stated on the flrst page of thisDeed of Trst. .
PURTHl ASS!JflANCEiS; AlTORNEY...FACT. The following provlons røatlng to fuer assurces and altmsy.Jn.fact are B par at thDllod øf Tru. .
Fwir AssuCll. At inv tlma, and from time to tie, upon requ of Lender, Gninlr wDl mako, execut an delllIr, or wil cåUle ti
be madi, executed or delllld, to Lender or to lader's deslgn, and when roquested by Lendør. caUBB to be flied, recored, rsfid, or
rerecorded, liS tha csse may be, at such tlmBS and In such offce and placos 8S Lender may daem apprpriate, any and sll such mortages,
deeds cif trt, securIty deeds, security agreements. fiancIng statements, contlnuiitton statements. Il1truments of funher esiiurenca,
aertnclltes. end other documents a& may. in tha sale opInion of Lender, be necBSasry or desirble in order to otfecwllto. complu1., perfect,
cotinu. or prarve t1 Grator's obligations under the Note, thls Deed of Trust, end tha Reløtd Documents, Bnd (2) the liens and
eactv Inteeiita crated by this Deed of Trullt as first and pror lIans on ihe Propert, whether now owned or herøeftr acqured byGrntor. Unless prohlbltod by law or Lender agniea to the conlrry In writig, Grentor shall reImburs l.nder for iii costs iid expenses
Incurd In connectin with th matters refarrd to In ti paragraph.
Auay-.Foiit. If Granto fall. to do aoy af the thngs referred to in th precadlng plJgraph. Lander may do 50 for lind In th name of
Grantor end at Grentor'a expense. For such purposes, Gmnter hereby Irrvaoably appalnti l.nder 8S Grantor's IIttarnøy.ln-facifor the
puroaa of makng, ax.outlng, denvarll, fiing. racordlng, end doIng ell othr thlnga as may be nacsssary or dilrulo, In Lender's sale
opinion, to eccompllsh the mattrs referrd to In thii pracedlng paragph.
RILL PERMCi: If Grator PBya all the Indebteness whii due, and othørlae perorms all the abirgiitlans Imposed upo Grantor un
thl. Dsed of T~t, Lender shell .XRCUt,'. and.dellver to Truee. a raqiiest far. fuU ,reconveyance ind sbin eiicuts and dellviir to Gnintor Bultible
statemenls of tarmlnatlon of an fiancIng i;tatament on me evIdenclng- lener's siiourlty Inlarest In the'Rents and tha Pensonol Propart. Any
reconveyance lee niquJrad by iiiw shall be paid by Grantor, if permIttd by appllaeble low.
EVENS OF DEFAULT. Each of the following, at Lender's optin, shell canstltute an Evant of Default under thIs Daed of Trust:
Payment Dof1t. Grator fall. to make any peyment when due under the IndabtednlS.
Other DefaUlts. Grantor fells to camply wIth or to perform any other term, obligation, CDvanant or candlllon contained In ihi Deed af Trut
or In any of tha Raleted Documiinti or ta comply with or to perform any term. obligation, covenant or cQndllion contaned in anv other
agra,iimant between Lender and Grantor.
CempUanlie Dufalt. Fanure to compl wIth any other term, obligation, COvuMnt or ccndltlon contilned In thIs Dead of Tru the Notl ar tn
any of th RlIatad Dccuents.
Defa on Otir Paymsnti. Failure of Grantor wllh thi tlms requIred by thlø Deed of Trut to make any peymint for laus or Insurance,
or any other payment nøcasiiary to pravant flllng of Dr to affoct dIscharge of any lien.
Føl:ie Statements. Any werrnty, rapreiientetlon or statement made or fulsheci to Lendar by Gnintor or an Grator's behalf under this
Deed of Trust or the Relate Documents is false Dr mIsleading In any motarliii respact, eIther now or at the time made ar f"rnlihsd or
becomes fiilaa or mlsloadlng at åny time thereaftr. .
"'Dafaclfvø' CoUatarellan. ThIs Dead of Trust' or envaf the RalatedDacumerits 'i:aBs~ to be In full farce lind affect lIncludlng' faHure' or
DEED OF TRUST'
(Continued)
. i
Page 5
any colliitara document to criiate a valid and peñected securi lntirest or lien) et an tIme Dnd for Bny reason.
Insalvancy. Th dissolutIon or termnation of Grantor's eicstenca as e going bUBlnaeB, the Insolvency of Grentor, the appoIntment of B
receIver for any part of Grøntor'B propart, env esslgnmønt for th benefit of credItors, eny tye of cradlmr workout, or thø commencement
of any proceedIng undar any bankruptc or Insolvncy laws by or agslnst Grantor.
Crodior or Foñeltue PrDcøidlngs. Commencemant of foreclosure or foñaltu proi:dlngs. whether by judlclal proceedIng, self.halp,
repossessIon or any athr method. by any creditor of Grator or by any govemmental agency egalnst any propert siicurlng the
Inåiibtedness. This Includas a giimlshment of any of Grantor's accounts, Includig deposit accounts, with Lendir. Hawflvar, ths Event of
Default shall not apply If there Is a good faIth dIsput by Grantor as to thii validity or reasonablaness of the claIm which IS,1h besls of the
credior or f.oñelture pracRadlng and If Grantor glvee Lender writtn natlce of thø crodltor or forfiture proceeding lind daposlt wltn Lendør
monies or a eurety band for the credltar or forfølture proceeding, In an amount determIned by Landor, In Its sals discretion, as being iin
adequate reseive or band for tha disput.
Brech of Othir AgroiimenL Anv breech by Grantor under tha term af øny othEir iigreement between Grator snd l.ndiir that Is not
remedlad within eny grece perlad provIded therein, Incudtng without Ilmltatlan sny egreamant cancamlng eny IndebtednBS Dr othr
obngetfon of Grator to Lender, whether exIsting now Dr later.
""---'"-'-----EviinmArfëigGuarantor. Añy-:nlie pracealng eveñiiiicurs .wlll rllpeat to .any .Güãrii'ióf=any af .the .lnd'ibtadñíBñ"-'--
Guarantor dies or becomes Incompetent, or revokes Dr dlsputee tha validity of, or Jliibllty under. Bny Guaranty of the Indiibtedness. In the
event of a death, Lander, st Its optIon, mey, but sholl nat be requlrad to, permit the Guiintor'a estate to eSBuma uncondltloniiU., tha
obßgetions erlling undir tha guaranty In a manner sstlsfactory to Lendar, and, In doing so, cura any Event af Defsult.
Adllr&u ChanDÐ. A material adverso chanDa occur In Grantor's flnanclel condItion, or Lender believes the prospect of paymen or
parrmanca of tha Indebtedness Is Impalrad.
Insscur. Lendor In good fBlth beßeves Itself Insecure.
Right to Cur. If sny default. other than 0 default In peyment is cursbla and If Grantor has not baan given a notice of a bruach of the same
provisIon of this Deed of Trut withIn the precedIng twBlvD 112) months, It may ba cured It Grantor, after recalvng wrlttn notice frm
Lander demendig cur of such default: ni cures the default withIn flaen ii 6) dsys or (2) If ths cure requIres more thn fiften IHi)
days, Immedlatiy InltlutBS stops which Lander dasms In Lendor's sole discretion to be suffcIent to Dure the default Bnd thereaftr
continues and completi all rsasonable and necBSeury steps suffclant to produce aampllence as aoon as reasonablv practlcal.
RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default DCCUru under this Deed of Trust, at any time tharusftr, Trustee or Lander may
exercise any onB or mara of. th following tights and remedleB:
Notice of Defaul In tha Evant af Dafault Lender shall axeouto Dr CliUSS the Trustee to exoeue e written notlca of such defaut Dnd of
Landar's eleatlon to caUSa the Propert to be sold to satisfy tho Indsbtednoss, and shall cause auch notice to be recordad In th offce or
the recorder of Bach county whareln the Riial Propert, Dr eny pllrt thsreof, Is sItuted.
Electon af Romodlea. Elect by Lander tt pursue any remed shll nat excludi pursuit of anv other remedy, Bnd an olectfiin to meke
øxpsndltures or to take ectlon to perform sn obÐgstfon of Grantor undar thIs Dead of Trust, sftar Gruntor's failure to perform, shall nat
offset Landsr's dght to daclii a dafault and exrclae Its remedies.
AcçøleratB Indebtidnese. Lender shall have the right et Ito optlon wIthout notlca to Grantir to decre th entlre lndabtadnes Immedlstaly
due and paysble, Including eny prepsymnt penalty which Grantor would be raqulred to pay.
Foroclosltu. With respact to all or any pan of the Real Propart. the True shøll have ths right to forecloee by natiii lind sa, and
Lender shall hElva tha right to forsclose by JudicIal foreclosure, In BIther CBa In accordance with end to the full extimt prvided bysppllcable lew. .
UCC RemedIos. With respsct to all or any part of the Persanel Propert, Lender shall have aU the rights Bnd remedlas of a securud part
uner the UnIform Cammerclal Code.
Collect Rants. Lander shallllava the right, without notlca to Grantor to tBke passßss!an of and manege tho Propiirt lind collect tha Rents
Including amounts past due and unpaid, end apply the net prociiads, over and above Lander's costs, iigulnst the Indabtadnass. In
furterance of this right. Lender may requIre any tenant or ather user of the Propert to make paymants of runt ar use feas directly to
Lender. If the Rents ore collected by Lendiir, then Grantar Irravocably daslgnøtes Lender as Gruntor's attrney.ln-fact to endorse
Insltmenta received in payment thi:reof In the name of Grantor end to negotiate the same and cillect tha proceeds. Piints by tenants
Dr othar users to l.nder In repanse to Lender's demand shall setlsfy the abHgetions for which the payment ii mede, whether or not any
proper grounds for the demand axIstad. lender msy aurclia Its rights under thle subparagraph either In person, by 8gant, or through a
receIver.
Appoint Receiver. Lender shall heve the right to have a receIver eppolnted to tiike possession of all or any part of tha Propert, wIth the
power to protect and preerv the Propert, to operate tha Propsrt prucedlng foreclosure or Bale, and to callact the Riints from the
Propert end apply the proceeds, ever Bnd above the cost of th rucelvershIp, against the Indebtadnass. The raçelver may &a1V without
bond If permItted by lew. Lander's right to the appointment of a lBcelvar shsfl iicst whather or nct the apparant valu of th Propsrt
øxcseds the Indebtedns bye aubstnntlel amOUnt. Employmint by Lendsr sh811 not dfsqusUty B pereon frm servg ee D receIver.
Tanacy at Sufnce. If Grantor remaIns In posseeslan of the Propert sitar tha Propart Is sold ss provided abova or l.ndar othrwise
becomee entltled to possessIon Df the Propert upon default of Grantor, Grantor shall baClma a tanant at suffre of Leder ør th
purchaser of the Propert end sheD. at Lender's option. elthar 111 ¡:ay a raosonable runtel for the use of th Propert, Dr 121 vaceta the
Propert Immedlatoly upon ths demend of Lender.
Othr Remedies. Trutsa ar Lender shall have any othar rlght or remedy provided In th Dead of Trust or the Note ar avBlsbla lit lew or In
equity.
Notice of SBla. Lendor shan glva Grantor reasonable notIce of the time and piee of any public sale of the Peruonal. Propert or at the tie
aftr which an private sals ar ather Intendad dispositIon of the Pareonal Propert Is to be made. Raasoneble natlce shel maan notice
glvan at least tan (10) day bafore the trme of the sale ardlJWslUon. Any sala of the Paraaniil Propert may be mede In conJWliitlon wIthany sBle of th,RBBI Propert. .
SaiD ~f the p~pai1. 'To t~e ~xtent pem;ltt~d 'byappu'cåble liW, Gmniar hareby waives ~y a'nd aU rights to have tk P~oPe~ ~iirehailed.
DEED OF TRUST
(Continued)Page 6
In 8l!clalng Ita r1ght an ra8dØl, the Trutee or l.nder .hall be fre to sell all or iiny part of the Proert toether or separtely, In Clne
aile or by sepra aBls. "-nder ahall be entitl to bId at any publ Bile on all or Bny porton of'1e Propert. Notlca of saa hevln; bun
g1van .s then reuied by law, and not IlIs thn tha 1Ima requted by law having elapsed, Trutee. wIthout demand on Grimtor, shiill iuillthe propert 8.t the tie and place fixed by it in the notlce of sals at punc auction to the highest bTddar for cøsh In lawful moy of th
UnltId StlJ, Plyabla lit time øf sale. Trustee &hll deliver to the purchaser his or her deed conveyig thB Prort so iiic. but wlthoit
any cøVÐnant ar \VBrrntv exres or Implid. Tha recitals In such deed of Bny metters or facts shall be concluslva proof of the trufune
of alJh mettra or facts. Aftr deductil1 BII COlltB, fBes and expenses of Truiitaa and of this Trust, Including coit of evlcence of titl and
reasonabla ettmeyl fees, Incluißng those in connectln with the salB, Trutea shall apply proceeds of sale to payment of (a) all $ums
eicended under 1hls Daed of Trust, not then reaid with Intere 1hl'n 88 provided In th1s Deed of Trust: (b) all Indebtedness secured
hereby; an (c) the reainder, If any, to th perlion or persons legally entiled threto.
Attmiys' FeUl Exnsu. If L.ender inswta any suit or actIon to enforce Bny of the tenns of this Daed of Trust, Lender shal be entitl
to rallver such iw a. the court may edjudge reasonable itS attrnys' fiBS at tr ani1 upon any appeal. Wh!her Dr nat any cour action
Is lnvolviid, end to the elCnt not prohibited by law, all T1BSneble exense lander InÇtrs that In leder's opinion are nll at anv
tl for the protecdon of Its Interest or the enforcement of Its rIghts shell become a part of the Indebtadnlls piiyible on damend and shall
biiar Interes at the Nota rete frm the daie of the expenditu untO rapali. Exenses covered by thIs psrigraph Include, witout fimltat!n,
howiver lubJllct to Dny limits under appUciible lew. l.nder's rellonable attrneys' feei and lander's legal expeOSIU wheth Dr not the Is
"~".""'."~-a-lawsut,-lnclUdlng-rèäiin'able"'åttaÌ'rléVi'-r¡jëš-ãhii-iiëjiñlieinõfl:k1ijjtëvproeãïlîi:lgs-(tlüeñjffrf to moWry or vãca~--'-"-'
autmatlo atay or Injunctlanl, øppBall, and any anticieted pøst-Judgmiint collection SONless, the cast of .airchlng records, obtønlng title
report Oncluding foraclosure reports), survyorI' ripoi1, lind appraisl fees, title In.urøae, and fees for thB TrultBe, to the extent
pennttd by øppUcablo law. Grantor aloa will pay any aaur cast, In Dddlllon to all other sums prcvldodby lew.
RIght afTruteo. Truste sholl have all of th rights and dulles of lender os sat fort In this section.
POWERS AND OØLlGATlONS OF TRUSTEE The fallowIng proviIon relating to th powers end obllgatkns afTrua ara part of thi Dud of
Trust:
Powø of Tr. In addition to all power. of Trutea arg lI D matter of law, Trutee shall have tho power to taka the following
eotJ wIth ripact to th Prpert upon the written request of lander and Grantor: (a) Join In preparing and fino a mip or plet of the
Real Propeny, includig th dediçetlan of streets or ather rights to the pubUa; (b) JaIn In grnti any ellemint or cratlg an ratnet1n
. on the RlIaI Proper and (e) Jal In any subardlnattan or oihar øgarant affcting thIs D.øed C1f Trusl ar the Intarøst of leer uniir tli
Dead of Trust.
OblptJ to Notify. Trutee IhlH not b. obligated to nctlfy any othar part of a pendIng sale under any other tr deed or Hen, or Dt eny
ectIon or prøeeding In whIch Grentor, lender, or Trtaa IhU be " part, unless the action Dr pn:iiiuedln Is brought by Trusta..
Tni. Trutie shøl meet all quiiincationa raquld far TrutsD undDr appllciibla law. In addition to the rlghtii and rumød. iit forh
abo\l, with resict to all or any part of thii Propi, th Truite sholl hsvo'ta rit to ferloD by notice iid safe, and "-ndør shd hae
th right to foreclose by JudIcial foreclosurø, In althr cese in aCllrdanoe with and to the ful .leant provid by Ippllc8blelaw. .
SUCsar TruD. 1., at 1.er's optin, may fro tlma to tima IIPpolnt 8 BUccsssor Trusta to any Trutee llppDinted unde thi
Deed of Truiit by an Inltrsnt ex8cu~d and øcknowledged by Lsnder and recorded In the offce of ih recorder of Ada County. Stslll of
Idaho. The lnatrmiit sha cotøn. In addition to ell othar mattrs raqured by stete lew, the names of the !irlglnl Leder, Tru. iid
Grentor, the book an page where thls Daed of Trut Ie ragarded, Dnd the name and addr of the successor trustee, end th Instrument
shall be eiceu and ackowleged by lender or Itl"BUcC8UOrs In Interet. The SUCCDlIsor trstee, without oom¡ayiinca of the PrPer,
shell succssd to all tha tille, power, and duties conferred upon the Trustee In 'tIs Daed of Trust and by applcable law. This pracsdur. for
substitution of Truatee shall govarn to thCl e)tclUllan of all ather prisions for subiituon.
NOTICE. Any notIce reqred to be given under this Oasd of Trut, Includng witht limItation any natlcii of dafauJt and any notia of aale
shaH be glvon In writing, and shall bi effctlvi when actuall dollvere, when actually rscelved bV telafac:De (ulIISB otherwise raqu1 by
law), when depoalted wIth s nstknslly recognized ovemlght courfer, or, If ms1ed, when deosIted In the Unfte States mall, Illi "rst Glass,
cartHed or registered mall postage prpaid, directed to th eddresses shown naar the beglnnll1 of this Deed of Trut. All caPIBS of notices of
foraclosuro from the holdiir of any lien which has priority over !hIs Dead of Trust shen ba Bont to lander's Bddres, as shown near thø begining
of ths DBed of Trut. Any part mav change its address for notlcali under this Dead of Trust by glvng formel writtn notice to tha ather
partes. spsclfyng thet the purpose of the notTce 18 to chongB the part's eddresø. For nollce purposes. Grantor agraes to keep lender Inlamid
at all time of Grantor's cumit addres. UnlØ8s othrwlea provided or required by law, If there Is marc than one Grentor, any narlca gIven by
Lendar to any Granor Is deemed to bi noUeli given to all Grantors.
MllcaNeoUS PROVISIONS. Th fclwll1 miscalll1ous prlona are 8 pert of this Deed of Trust:
AnJ!!#mira1f,. '-Is Qee~ of Trut, togetfr wlth ImYJllll~ DOllti, .aertltitl, the,entIø~understand and agreement of the partes
es to the mittre set fort In th Deed of Truiit. No alteratkn of or amandment to this Deed of Trut shall be affctive unie.. given Sn
writing and signed by the pert or partes sought to be charged or bound by the altiiratlan or smøndmiit.
Annui Rii. If the Prrt t. used for puoalJ other thn Grator's reIdence, Grantr eha fuih to l.ndar, upon riist, a
øerfld stateiint of nat apiinitlni:l Incme reeived frm ih Proper durig Grantor's prvlaue fl Ylar In 8uch farm an detill as
lender shall requIre. "Net oparatlng Income- shall meen all caiih racelpts from the ProPer lese aU CIb eicandllur mode In cannacllanwfth the operation of ths Propert.
Ceptlon Headings. Cipt!cn headigs In this Deid of Trui ar. iÐ convntence purOSIlS anly ind arii not to be und to Intet DI deJle
the prvLstons of this Deed of Tru!$l.
Mefpr. Thiire shall be no miirgar of thi lntarust or østat8 oreted by th Dead of Trust wl!h any ather Intest or aitlta in the Prort at
any time held by or for tha hiineflt of Lander In any capacltv, without th writtn consent of ,,nder.
Govarnng Law. Th1s Diad of Tru wIll bii govamid by fidirallew applicable 10 Lender and, to the uicnt not pniamptad bV fadirsl law.
th Iiws of th Stat. of Idaho wiout rcøard to It conflicts of law proviions. Thts Diiad of Tru hes been aceiiptiid bV LandaI' Tn tho
Stati of IdahD.
Cha1a of Venue. If !hira Is . lawsuit, Grantar agreøa upon Lender's request to submIt to the jusdlcdon of th court of Ada Countv,
State of Idaho.
".
. '.. , .1
DEED OF TRUST
(Continued)Paae7
No Waiver by Lender. Lender shall not be deemed to hava waIved any rlghta under this Daed of Trust unless such walvar Is given In writing
and sIgned by Lender. No deley or omlsslon on tha pert of Lender In exarclslng IIny right shall epiie as a waiver of such right or anv
other rIght. A waiver by Lender of a provllon of ths Deed of Trust shall not prejudice or constlnite a waiver of Lender's right oilsrwlse to
dam and strict compllanaa with ihiit provisIon or 8ny other provisIon of this Deed of Trust. No prior wslvar by Lendar. nor any course at
dealing between Lender end Grantor. shall consttute e walvar of any of Lendars rights or of any of Grantor's obligations ss to any future
tranactions. Whonaver the consent of Lender Is required under this Deed of Trust, the grantng of such consent by Lender In any Instance
shall not constitue contlnulng consent to subsequent Instaces wher such consent Is requlrad and In ell ceaas such consent may be
granted or withheld In th si:e dlscratlon of Lender.
SO,vorallty. If a court at compatent Jurisdiction finds eny provision of this Deed of Trust to ba meiial. Invalid, or unenforceable as to anv
circumstnce, tht finding shall nat mske the offending pravlelon Ilegal, Invalid, or unanfurcabla as to anv oiher clrcumstanca. If feaslble,
the offendlni: provision shal be consIdered modlflad so that It becomaB legel, valid and enforcaøble. If the offending provlBlon cannot be so
modified. It shall be considered deleted frm this Dsed of Trust. Unless othef!tse required by law, the lUogallty, Invalidity, or
unanfurcesblllt of any provisIon of this Deed Df Trut shall nat affect the legelltv, velldlt Dr enforceabilit at any other pravlsan of ths
Deed of Trust.
Succesors and Assigns. Subject to any limItations stated In this Dsad of Trust on transfer of Grantor's Intiret, this Deed of Trust shill be
,.__..__..-'......lilñalng upon aniflnure tõlti Denefltõflfil)iïliii;lilr successora añiãišlgñš;-tëinlp aftliP'rpBrt bëcomes vestetfln'B parson
other than GrantDr, Lendar, without notice to Grantor, may deal with Grantor's succesiors with reference to this Daad at Trut and the
IndBbtidnass by way of forbsarenca or extension without releasIng Grator from the obllgetlons of this Dead of Trust or lIeblltY under the
Indobtednass.
Tim., Is of tho Essoniw. TIma Is of the esiienca In the perfonnce of ihts Deed at Trust.
Waiver af Hamestiø. Exemption. Grantor hereby relesas and welv ell rights and benefi of tha homestd examptlonlaws of the Stete
of Idaho ss to all Indabtadnes& secured by this Deed of Trust.
DERNmONS. The followlng cepltillzed words end terms shell have the follwin meanings whan used In thts Dead of Trut. Unless
spacllcally iitatsd to the contr, all faferiinces to dollør amounts shaU meen emounts In lawful monay of the Unltid States ot Amarlca. Words
snd terms used In tha ¡¡Ingulsr shell Include the plural, and ths plurl shell Include the ¡¡Ingular. as tha context may require. Words end terms natotheiwlsa defined in ihls Daad of Trust shell have the maanlngs attrIbute to such tes In the Uniform Commercial Coda:
Banøficlii. The word "Beneficiary' maBnS Idaho Banking Company, and Its successors snd assigns.
Borrowsr. 11a word -Borrower" means Eagle Watsr Company, Inc. and Includu all co.slgnera and co.makers signing tha Note and all thalr
successors lind assIgns.
DODd afTru The wards "Deed of Trust moan thIs Dead of Trust among Grantor, Lpndar. and Trulit,Aimitf,licludes witout lIm1tetlon all
assignment and sacurlty Interet provisions relatig to the Personal Propart and Rents. .......f. OIJ IIJ~'
. Dufault. The ward "Default" means the Default sat fort In ths Deed at Trust In the natin t~~è~a~ , ;.¡
Envrronmental Laws. 1ha words BEnvironmental Laws~meen anVand ell state, fsdaral iiJl ülli,~r lations and ordlnsnèl
reletlng to tha protectlon of human hiiiith or the environment, including without IImltatloiJ th ~¡iiliãr/e vlrnmantel Reeponse,
CompensatIon. and Uablltv Act of 1980, ss amendad, 42 U.S.C. Saeton 9601, at søq.:I"C CLA___ Supifrf Amandmanta snd
Reauthorization Act of i 9B6, Pub. L No. 99-499 ('SARA"), the Hazrdous Materials Transp..rta n", 49.LI~.q, Section 1801, et saq.,
tha Rasource ConsarvatJon and Recovary Act. 42 U.S.C. Section a901, at saq., or otn II 'I're _$1 federa lewa, rules, orragulatlona adoptad pursuant thareto. :f ;iiJ.
Evant of Default. The wcrdi; "Event of Dafault" maan sny of ihe events of dafsult sst fort l~"1l' IIUIl t\~rn tho evaRts of defaultsection of thIs Dead of Trust. . ". It ...'1.'..'''
Grentar. The word 'Grantor" means Eagle Wate Compeny,lnc..
Gunmnr. The word 'Guarantor" means iinv gusriintor, surty, or eccommodatlon part of any or all at the Indabtsdnss.
Guarnty. Th word "GuarantY' means tho guaranty from Guerantor to lender. Inclding without IImltatlon a guarantY of all or part at theNote; I
Hrwrdous Substincaa. The worda "Hiwrdaus Subatinces" masn materials thet, because ot tholr quantity, concentration or physical,
chamlcal or infectious characteristics, may ceuss or pose a preent or potential hazard to humsn health or the envlronmant whan
ImprperiV used, tratad, stored, disposed of. gi:eratiid, manufactured, transported Dr otherwise handled. The words "HszardDus
Substances" are uied In their very broadøst sanse and Include without limitation anv and all hiirdous or toxic substances. matarlela or
wiiste as deflnedby or listed under the Environmental Laws. The term "Hazardous Substances" elsa Includes, without limitation, petrleum
and patrleum by-roducts or any frectlcn thareot and asbestos.
Improvaments. Tho ward "Improvamanta' maans all axlstJng and futur Impravamantl, buildings, structures, mobile homo affxed on tha
Real Propert, faclltJ, eddltlons, replsC8mants and other constrction on the Real Propert.
lndiibtedness. Tha ward "Indebtedness' means ell ¡:rlnclal, Interest, and athr amDunts, cos and Bxpenses payable uner tlø NDti or
Ralated Documents. together with all ranawals of, ex1anslons of, mcidlfJcatJns of, consolidations of end substltutlcns lor tha Noto or
Relatd Documents and env amounts expendad or advancad by leer to discharge Grator's obJlgallons Dr axpansBS Incured by Trutea
or Lender to anforea Grantor's obligations undar this Daed of Trust, togethr with Interet on such amounts 88 provldad In th Deed ot
Trut.
Lender. The ward "Leidar" means Idaho Banking Company, lis successors and assigns.
Notl. The word "Noti" mesna tha promlsscry nata datd DSC8mblir 7,2007, In the original prIncipal amoUnt of $110,000.00
from Grantor to l.nder, togethar with ell ranewals Df, llnslons of, modlfcatlons of, rsfineniings of, consolidstlons of, and llubsttuns
for the promissory nota or agraament. Tha maturity dat of this Dead of Trut Is Decembar 7, 2009. NOTICE TO GRANTOR: THE NOTE
CONTAINS A VARIABLE INTEREST RATE.
Personal Propert. Tha wards "Personal Propsr" masn all aqulpment, flxtras. snd other ørtclas of pal1onal propert now Dr heraaftr
owned by Grantor; Bnd now Dr harsaftr Btúrid or .affed to 'te Real Prpert; together with all accessIons, part, ánd addltlons to, all
. \DEED OF TRUST
( Continued)PageS
11llliimenta of, and all subtituions for, Bny of such propert: and together with ~I1 proceBd IIncludlng wIthut IImltItion all insurence
proceeds end refund. of premiums) from anv siile or other disposItion of the Proper.
PrOpert. Tl word 'Proper- mlilU collaetelv ti Real Prpirt lind the Personal Proper.
Real Propert. Thii wor -Riial Propert" mean the real proer, IntBra and rights, as furter discrlbed In ths DBed of Trust.
Raliittd Docu. Th words 'RellltBd DDcumants' mean all promlssary iitøs, credit agreemlltl. IDan agreemiints, Bnvlrcnmiintal
qrlBmtms, gUlIrlUIII, aacurlty agreements, mortgeges, d..tI of trust. SllCUrity deeds, collaral mortgagll, ømJ aU other lnauument5.agniement lind daeuiinls, whether now or hereafter lIxisting. Ilxacuted In connection wIth tha Indebtidnese.
Ranta. The ward -Rents' means all presen lind futue rents, renues, Incom.. Issues, royaltliiii. profits, end othr beneflts darlvvd from
't Proper.
TlWt.e. Th ward -Truiiie.' meiinii first Am..lcaii Title Compa of Idaho, Inc.. whose address II 9465 W. Emeriild, Sui 260, Bii, ID
83704 and any substitue or suessor trstBS.
GRANTOR ACKNOWGES HAVING READ ALL THE PROVISIONS OFTHIS DEED OF TRUST, AND GRANTOR AGREES TO IT TEMS.
_......,..GRAT.OR:.,____,._.__.......______.,___..._.,_____________.___._.._,_,..,__.,.._.._..,.._,___.....____.__,.__""'__.'_"'.'
""".!!"i,
CORPORATE ACKNOWLEOG.MENT ....,.....~,.OH~;.ø.
.:o4l .."1,.STATiOf I. I /4: .OT~Il,. \iss ¡... ¡1\ .l , ' .. .t i.CONT Of on I \ . JJ1I1n.''' · ,. \d1oi i- ~~ ~
Ontba ~ deyot ~~ . In the yea 20 0) ,~vl;
l'~~~ , a nabiry pu c nã lâr ti -Staie of Idaho, pOnlcnally BppÚ~urDëShí: Jt.. Pñl&tof hs r Copan, nc.. own or Identllad to me lor proved to me on the oath of ). to be an
autorlad slgnii of &110 Wllr Company. Inc.. tts carparitJan tht BXecuted the InstrmBnt or the parsi," who licuted th Inient on
bihlU of said corporation, and acknwledged to me thot such corporation executed the same.~ Q-.l ~ Resldlngat B4t.
Nttaiy Pub C'r Idaho
My commllon oxpt ,- \=i.. (~
REQUEST FOR FULL RECONVEYANCE
(To be used only whan obllgatlana hevø been paId In full)To: . True
The undersgnød Is ll Illal owner snd holdar of eU Indabtllnns securd bV thli Oesd of Trut. All sums secured bV this Oell of Trut have
bean fully peld and satsfled. You are hereby dlrciad, upen payment to you of any sums awIng to you under tha terms of this Dead of Trut or
pursuant to eny applicable statu, to cancel the Note scoured by thla Deed of Trust lwhlch Is delivered to you together wIth thIs Deed of Trutl.
and to reaovav. wltoui wsmity, to the psrtes daslgnated by the te of th Deed af Tn.t. th estate nDW hilld by you under this Deed af
Trust. Pleasii mill the reconvvyaraa and Related Oacuments to:
Da:Benøclii:
By:
Its:UII'_.V...L:_ _,.._Io_..tll.Jl ..__ -18 _.n _ _._
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Exhibit "A"
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DellClipnOD for Eagle Water Company Well No. .l
A porton of ibis J\Wlf4 Seeon 15 T.~N'J .R1E., 80M., ERgl Idido.
Beginun, at the Northwest COmet orSeatlon is, T.4'N., .nl.E, a.M: Ada. County, IdabOj .
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. . . S ".L 0' -to . 'l. . . '5'--"i-~_..,-~-._--._,--_....,.....__........_-,....,.....,-_..._....,_:rnc.i. O\..OO-SO.2fiEai.,: 5¡66'fect-a1ong .lhe.secfioli-lJi~.bctween-seoDS i ii
16 lo a point;
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làence, Nort 89°D7'15" Eust 684.14 feat to 8. % j~ch it.n J'ii 11: RE POINt OF
BEOINNING:
'J1i:nc~ pontlnulg Nort 89°01'15''EasL 97.90 feet 10 ß ~ inoh ii:oii piD;
Thenc, South 001139'48" Ea~ 103.05 feet to iiho pin;
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. lbcmci: Sóuth H!)l) '51'wesE 97.93 .fC( Ji iu Jm pi;
Thene.:, North 00°38'53" West 102.. :lë.et ttl tIte plac ofbcgil1big.- ,
Along ,vill a. 20 foot uncme.t for ingres aw earcss along tlic cxši.g .tiVed pnvii
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Exhibit IIB'" .
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Description for Eagle Water Copany Well No.6
A portic:n of the Southwest quarter of the Southwesi: quarter of Sect10ii a, Township ..'
)1r-tb, llenge 1 East. Boise Meridian, Ada County, Idaho, more pbrticulai:ly described 'as ..
follows;. '.
...._._.,-....eomm=ñinsrat -tli;qu.;ii-'.~~rner ~n to S~~ti~.~7;~d~.ã-:'Township 4 North~" ~~e ~-"'--:-'.;-:-....-
8ast, Doiiie Meridian, thence
South 00~i38'37" We.1: 1,369.75 feet along the section line commn to said Sections 7 an B....
to an iron pin on l:e Southerly right-of-way of State Highway 44 (West State Street);
tl:IlD..8
!forth Sa'46" 33" East, 367.20 feet along said right-of-way manument; then.cec:ontia.ing iilong said right-of-way, Northeasterly 300.12 feet (formerly 300.ll feet) l
along the arc of a curv to the right, sa.id curve having a central angle of DO a 45' oip ,.' a
3;adiu. of 2a,2BS.~1 feet an a long chord which bears North B9aOg' 07" Bast, 300.12 feet
(formerly North 89.07'58" East, 30D.10 feet) to an iron pin; thenceSouth 00°16'58" West, 20.00 feet to an iron pin, said pin being the RE POIN OFBBS:tIlG; thence .'
South 00-16'58" We,i: BO.OO feet to an iron pin; thence
south '0- OQ' DO II Hast 183.72 feet to an iron pinr thenceJtOrthllilstllriy 26. J. feet along th arc of a cue 1:0 the right, said cae having a
cen~al anle of 14 D 57' 40 ". a radius of 100.00 feet and a long chord which beas No3;th
11D34' 11\' Eat, 2li .04 feet to en iron pin; thence. .' . ....:..
Northeasterly 33.67 feet along the arc of a cue t.o the left, said curve haidg a centnl
rule of 19°03'01", a radius of 101.28 feet, and a long chord which. bea:fs North 0.9D31D30".last )3. S2 feet to an iron pinr thence .
North 00"00' DO" East 19.29 feet: to an iron pin; thence '.
Nortleasi:iely 173.35 feet. along the arc of a cue to the right. said cure. havi a
central angle of 00°26'04", a radius of 22.858.31 feet and a long chord which bears Nort.li .
SJoi7'301l Bast, 173.35 feei; to an iron pin, said pin being the RE POIN OF BBG~ING..
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IXCBP~ THBRBFRO any ditch Dr road rights of way.
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