|
|
|
================================================================================
LIBRARY SQUARE ASSOCIATES, LLC
(Borrower)
and
COMMONWEALTH LAND TITLE COMPANY
(Trustee)
and
GREENWICH CAPITAL FINANCIAL PRODUCTS, INC.
(Lender)
DEED OF TRUST, ASSIGNMENT OF LEASES
AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING
Dated: As of June 26, 2003
Location: 633 West Fifth Street
County: Los Angeles
State: California
DOCUMENT PREPARED BY AND WHEN RECORDED, RETURN TO:
Cadwalader, Wickersham & Taft
100 Maiden Lane
New York, New York 10038
Attention: Alan W. Lawrence, Esq.
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
PART I
GENERAL PROVISIONS
1. Payment of Debt and Incorporation of Covenants, Conditions and Agreements.............................. 4
2. Warranty of Title...................................................................................... 4
3. Insurance.............................................................................................. 4
4. Casualty............................................................................................... 9
5. Payment of Taxes, Etc.................................................................................. 15
6. Tax and Insurance Impound Fund; Deferred Maintenance Escrow Fund; US
Bancorp Escrow Fund; Outstanding Tenant Allowance Escrow Fund;
Replacement/Leasing Escrow Fund........................................................................ 16
7. Alterations............................................................................................ 28
8. Leases and Rents....................................................................................... 28
9. Maintenance and Use of Trust Property.................................................................. 30
10. Transfer or Encumbrance of the Trust Property.......................................................... 31
11. Representations and Covenants Concerning the Borrower and Trust Property............................... 38
12. Single Purpose Entity/Separateness..................................................................... 44
13. Estoppel Certificates and No Default Affidavits........................................................ 50
14. Controlling Agreement.................................................................................. 50
15. Changes in Laws Regarding Taxation..................................................................... 51
16. No Credits on Account of the Debt...................................................................... 51
17. Documentary Stamps..................................................................................... 51
18. Books and Records...................................................................................... 51
19. Performance of Other Agreements........................................................................ 53
20. Further Acts, Etc...................................................................................... 53
21. Recording of Deed of Trust, Etc........................................................................ 53
22. Reporting Requirements................................................................................. 54
23. Events of Default...................................................................................... 54
24. Late Payment Charge.................................................................................... 56
25. Right To Cure Defaults................................................................................. 56
26. Additional Remedies.................................................................................... 56
27. Right of Entry......................................................................................... 59
28. Security Agreement..................................................................................... 60
29. Actions and Proceedings................................................................................ 61
30. Waiver of Setoff and Counterclaim...................................................................... 61
31. Contest of Certain Claims.............................................................................. 61
32. Recovery of Sums Required to be Paid................................................................... 62
33. Marshalling and Other Matters.......................................................................... 62
34. Hazardous Substances................................................................................... 62
35. Asbestos............................................................................................... 63
36. Environmental Monitoring............................................................................... 63
37. Handicapped Access..................................................................................... 65
{/TABLE}
-i-
{PAGE}
{TABLE}
{S} {C}
38. Indemnification........................................................................................ 65
39. Notices................................................................................................ 66
40. Authority.............................................................................................. 67
41. Waiver of Notice....................................................................................... 68
42. Remedies of Borrower................................................................................... 68
43. Sole Discretion of Lender.............................................................................. 68
44. Non-Waiver............................................................................................. 68
45. No Oral Change......................................................................................... 69
46. Liability.............................................................................................. 69
47. Inapplicable Provisions................................................................................ 69
48. Headings, Etc.......................................................................................... 69
49. Duplicate Originals.................................................................................... 69
50. Definitions............................................................................................ 69
51. Homestead.............................................................................................. 69
52. Assignments............................................................................................ 69
53. Waiver of Jury Trial................................................................................... 70
54. Governing Law.......................................................................................... 70
55. Trustee's Fees; Substitute Trustee..................................................................... 71
56. Power of Sale.......................................................................................... 72
57. Recourse Provisions.................................................................................... 73
58. Cash Management Agreement.............................................................................. 75
59. Management of the Trust Property....................................................................... 75
60. Servicer............................................................................................... 76
61. Component Notes........................................................................................ 76
62. Mezzanine Loan Option.................................................................................. 77
63. Miscellaneous.......................................................................................... 78
PART II
STATE SPECIFIC PROVISIONS
64. Principles of Construction............................................................................. 79
65. Additional Remedies Provisions......................................................................... 80
66. Deed of Trust Not to Secure Environmental Covenants, Obligations, and
Indemnities or Guaranty Obligations.................................................................... 82
67. Additional Waivers..................................................................................... 83
{/TABLE}
INDEX OF DEFINED TERMS
-ii-
{PAGE}
EXHIBITS
Exhibit A LEGAL DESCRIPTION
Exhibit B RESERVED
Exhibit C REQUIRED REPAIRS
Exhibit D OUTSTANDING TENANT ALLOWANCE OBLIGATIONS
-iii-
{PAGE}
DEED OF TRUST, ASSIGNMENT OF LEASES AND
RENTS. SECURITY AGREEMENT AND FIXTURE FILING
THIS DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING (this "DEED OF TRUST"), made as of June 26, 2003,
by LIBRARY SQUARE ASSOCIATES, LLC, a Delaware limited liability company, having
its principal place of business at 555 West Fifth Street, Suite 5000, Los
Angeles, California 90013 ("BORROWER"), to COMMONWEALTH LAND TITLE COMPANY, a
California corporation, the trustee hereunder, having its mailing address at 888
West 6th Street, 4th Floor, Los Angeles, California 90017 ("TRUSTEE") for the
benefit of GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., a Delaware corporation
("LENDER"), having its principal office at 600 Steamboat Road, Greenwich,
Connecticut 06830.
W I T N E S S E T H:
To secure the payment of an indebtedness (a) in the original
principal sum of Two Hundred Sixty Million and No/100 Dollars (5260,000,000),
lawful money of the United States of America, to be paid with interest according
to a certain Deed of Trust Note of even date herewith made by Borrower to Lender
(together with all extensions, renewals or modifications thereof, being
hereinafter called the "NOTE", and the loan evidenced by the Note hereinafter
being referred to as the "LOAN") and all other sums due hereunder, under the
other Loan Documents (hereinafter defined) and under the Note (said indebtedness
and interest due under the Note and all other sums due hereunder under the Note
and the other Loan Documents being hereinafter collectively referred to as the
"DEBT"), Borrower has deeded, mortgaged, given, granted, bargained, transferred,
sold, alienated, enfeoffed, conveyed, confirmed, warranted, pledged, assigned,
and hypothecated and by these presents does hereby deed, mortgage, give, grant,
bargain, sell, alien, enfeoff, convey, confirm, warrant, pledge, assign and
hypothecate unto Trustee (in trust), with power of sale for the benefit and
security of Lender, the real property described in Exhibit A attached hereto
(the "PREMISES") and the buildings, structures, fixtures, additions,
enlargements, extensions, modifications, repairs, replacements and improvements
now or hereafter located thereon (the "IMPROVEMENTS");
TOGETHER WITH: all right, title, interest and estate of
Borrower now owned, or hereafter acquired, in and to the following property,
rights, interests and estates (the Premises, the Improvements, and such
property, rights, interests and estates hereinafter described are collectively
referred to herein as the "TRUST PROPERTY"):
GRANTING CLAUSE ONE
All easements, rights-of-way, strips and gores of land,
streets, ways, alleys, passages, sewer rights, water, water courses, water
rights and powers, air rights and development rights, all rights to oil, gas,
minerals, coal and other substances of any kind or character, and all estates,
rights, titles, interests, privileges, liberties, tenements, hereditaments and
appurtenances of any nature whatsoever, in any way belonging, relating or
pertaining to the Premises and the Improvements and the reversion and
reversions, remainder and remainders, and all land lying in
{PAGE}
the bed of any street, road, highway, alley or avenue, opened, vacated or
proposed, in front of or adjoining the Premises, to the center line thereof and
all the estates, rights, titles, interests, dower and rights of dower, curtsey
and rights of curtsey, property, possession, claim and demand whatsoever, both
at law and in equity, of Borrower of, in and to the Premises and the
Improvements and every part and parcel thereof, with the appurtenances thereto;
GRANTING CLAUSE TWO
All machinery, furniture, furnishings, equipment, computer
software and hardware, fixtures (including, without limitation, all heating, air
conditioning, plumbing, lighting, communications and elevator fixtures) and
other property of every kind and nature, whether tangible or intangible,
whatsoever owned by Borrower, or in which Borrower has or shall have an
interest, now or hereafter located upon the Premises and the Improvements, or
appurtenant thereto, and usable in connection with the present or future
operation and occupancy of the Premises and the Improvements and all building
equipment, materials and supplies of any nature whatsoever owned by Borrower, or
in which Borrower has or shall have an interest, now or hereafter located upon
the Premises and the Improvements, or appurtenant thereto, or usable in
connection with the present or future operation, enjoyment and occupancy of the
Premises and the Improvements (hereinafter collectively referred to as the
"EQUIPMENT"), including any leases of any of the foregoing, any deposits
existing at any time in connection with any of the foregoing, and the proceeds
of any sale or transfer of the foregoing, and the right, title and interest of
Borrower in and to any of the Equipment that may be subject to any "security
interests" as defined in the Uniform Commercial Code, as adopted and enacted by
the State or States where any of the Trust Property is located (the "UNIFORM
COMMERCIAL CODE"), superior in lien to the lien of this Deed of Trust;
GRANTING CLAUSE THREE
Awards or payments, including interest thereon, that may
heretofore and hereafter be made with respect to the Premises and the
Improvements, whether from the exercise of the right of eminent domain or
condemnation (including, without limitation, any transfer made in lieu of or in
anticipation of the exercise of said rights), or for a change of grade, or for
any other injury to or decrease in the value of the Premises and Improvements;
GRANTING CLAUSE FOUR
All leases, subleases and other agreements or arrangements
heretofore or hereafter entered into affecting the use, enjoyment or occupancy
of, or the conduct of any activity upon or in, the Premises and the
Improvements, including any extensions, renewals, modifications or amendments
thereof (the "LEASES") and all rents, rent equivalents, moneys payable as
damages or in lieu of rent or rent equivalents (including, but not limited to,
fees from parking passes), royalties (including, without limitation, all oil and
gas or other mineral royalties and bonuses), income, receivables, receipts,
revenues, deposits (including, without limitation, security, utility and other
deposits), accounts, cash, issues, profits, charges for services rendered, and
other consideration of whatever form or nature received by or paid to or for the
account of or benefit of Borrower or its agents or employees from any and all
|
End of Preview |
Home Intelligence Services Subscriptions News About Us