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Document Preview Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing |
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Title: |
Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing |
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Entities: |
Banc of America Securities LLC; Lakes Entertainment Inc.; Bank of America, NA; Latham & Watkins |
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Date: |
2006 |
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Size: |
Preview shows 6KB of 134KB total |
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Price: |
$62 |
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ID: |
#2189881 |
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THIS DEED OF TRUST WAS PREPARED BY
AND WHEN RECORDED, RETURN TO:
Latham & Watkins LLP
885 Third Avenue
New York, New York 10022
Attention: Elizabeth Jaffe, Esq.
Reference No.: 024819 0034
DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT AND FIXTURE FILING
made by
LAKES GAMING-MISSISSIPPI, LLC
(TRUSTOR)
to
B. BLAKE TELLER, ESQ.
(TRUSTEE)
for the benefit of
BANK OF AMERICA, N.A.
(BENEFICIARY)
PROPERTY LOCATION:
Highway 61, Vicksburg
Warren County, Mississippi
DATED AS OF JUNE 22, 2006
THIS ALSO CONSTITUTES FINANCING STATEMENTS FILED AS A FIXTURE FILING AND
FINANCING STATEMENT PURSUANT TO SECTIONS 9501(A)(1) AND 9502(B) AND (C) OF THE
MISSISSIPPI UNIFORM COMMERCIAL CODE AND IS RECORDED AS A FIXTURE FILING
THIS DEED OF TRUST SECURES A LINE OF CREDIT TO BE ADVANCED AND USED FOR BUSINESS
AND COMMERCIAL PURPOSES
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
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{S} {C}
ARTICLE I DEFINITIONS............................................................................................ 2
SECTION 1.01 Terms Defined Above................................................................... 2
SECTION 1.02 Definitions........................................................................... 2
SECTION 1.03 Terminology........................................................................... 5
SECTION 1.04 Other Defined Terms................................................................... 6
ARTICLE II GRANT OF LIEN AND SECURITY INTEREST................................................................... 6
SECTION 2.01 Grant of Lien......................................................................... 6
SECTION 2.02 Grant of Security Interest............................................................ 6
SECTION 2.03 No Obligation of Beneficiary.......................................................... 7
SECTION 2.04 Fixture Filing........................................................................ 7
SECTION 2.05 Future Advances....................................................................... 7
SECTION 2.06 Intentionally Omitted................................................................. 7
ARTICLE III ASSIGNMENT OF LEASES AND RENTS....................................................................... 7
SECTION 3.01 Assignment............................................................................ 7
SECTION 3.02 Revocable License..................................................................... 8
SECTION 3.03 Enforcement of Leases................................................................. 8
SECTION 3.04 Direction to Tenants.................................................................. 9
SECTION 3.05 Appointment of Attorney-in-Fact....................................................... 9
SECTION 3.06 No Liability of Beneficiary........................................................... 10
SECTION 3.07 Trustor's Indemnities................................................................. 10
SECTION 3.08 No Modification of Trustor's Obligations.............................................. 10
SECTION 3.09 Rights in Bankruptcy.................................................................. 11
SECTION 3.10 Right to Enforce Under California Civil Code Section 2938............................. 11
ARTICLE IV REPRESENTATIONS AND WARRANTIES........................................................................ 11
SECTION 4.01 Title to Trust Property and Lien of this Deed of Trust................................ 11
SECTION 4.02 Taxes and Other Payments.............................................................. 12
SECTION 4.03 Power to Create Lien and Security..................................................... 12
SECTION 4.04 Loan and Credit Agreements............................................................ 12
SECTION 4.05 Compliance with Laws.................................................................. 12
SECTION 4.06 No Condemnation....................................................................... 12
SECTION 4.07 Flood Zone............................................................................ 13
SECTION 4.08 Additional Environmental Representation............................................... 13
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