19-2519S:\Legal\Our pocuments\Ordinances\Consenl to Collaleral Assignment of US'frinity Holdings to Guaranty [�ank and'frusl Ord,doc
.' �r� . !' • 1 • . ��r� . � �
�, . •. . �, . . ..�. . � .
� � . � .•. ;. ; • . . � ''! 1 •
�, .
WHEREAS, the City of Dentan, a Texas home-rule municipal carparatian (the "City"),
cansidered and approved that certain consent to assignment of that certain Airport Lease (the
66Lease") from Greenpoint Aerospace Corporation ta US Trinity Holdings, LLC (66US Trinity99);
and
WHEREAS, US Trinity has agreed to callaterally assign its interest in the Lease to
Guaranty Bank & Trust, N.A. (66Bank99) as evidenced by that certain Deed of Trust, dated
September 10, 2019; and
WHEREAS, the Lease requires written consent of the City for the Collateral Assignment
ta be effective and US Trinity has requested the City for such consent; and
WHEREAS, the City Cauncil deems it in the public interest to give cansent to the
callateral assignment contemplated abave; NOW, THEREFORE,
•' ! # � • '' ; •' � �
SECTION 1. The findings and recitations contained in the preamble of this Ordinance
are incorporated herein by reference.
SECTION 2._ The City Manager, ar his designee, is hereby authorized ta execute a
Consent ta the Collateral Assignment of Lease in the form attached hereto as Exhibit "A" and
made a part af this Ordinance for all purposes.
SECTION 3. This Ordinance shall became effective immediately upon its passage and
appraval.
second d b motion� to ��a�����e`��� this ordinance was made by _��� �; ���" _�'��'�'���' � �� � and
y ���� ��"�,_����,� the aar�+�ii���r��c, was passed and approved by
� � � .. �.�
the following vote � - ��_Q a
Chris Watts, Mayar:
Gerard Hudspeth, District 1:
Keely Briggs, District 2:
Jesse Davis, District 3:
Abstain Absent
John Ryan, District 4:
Deb Armintor, At Large Place 5:
Paul Meltzer, At Large Place 6:
PASSED AND
�� � � � � .�„��„the �� ��� �l���i ��!"'������������w ��� 1 ��,
� � �� , �
� �'� � ,�,�w,�,��n � n°�° �� �vo�
�
nv �"�" � �, ,
��� N ��� � °
�� �� ,w� �� ����
m.� �.«��r� "r�� � �
�� � �
���� � � ��:�
��� ���;�
�� � � � ��
��, �r � ��a�.�p,,,�"� ���,°�
ATTEST: �,,��,���� �����.
ROSA RIOS, CITY SECRETARY
. �� �� � � ���'� ,�
BY. ,�
.� ��° ,�� � � ..�.. � ,.,� �� :�. _ _
APPROVED AS TO LEGAL FORM:
AARON LEAL, CITY ATTORNEY
� ���,�.�""'� �" ���w.�,�, " �..M.�.,�.�..� ..�_
�ow� ��� � ,� �
BY: �.m ��. � ,�
�
��. ___ - -- _ �^;� m -._
:� � ��� ��"
� ���
.�° �
. � "�. .. � � MA �.. .. ..,,,... ..,,, ....
�," 1 ��C I �C�� � �' l'"� ���" YOR
r �
CONSI�;N'I` 'I'O COI,LA'TEItAL ASSIGNMEN'T OF LI?,ASF
"I�his Conseni lo Collaieral �lssi�;nmcnt c�f' I_,ease is rnade bclween the Cily aP Denton, a
Texas hame rule municipal corporatian ("City" or "I,andlard"}, US Trinity IIoldings, 1.LC, a
'I�exas limited liability company ("Assignor"} and Guaranty I.3anlc and 'I'rust, NA ("�lssignee"),
WI-IIJRIJAS, thc I'raperty is subject to a�;round lease, describcd as the l�irport I,ease
ngreement dated December 1, 2004 betwecn the City and .Iet Warks Aviation, Inc,, and
subsenucntly assi�;ned to U.S. Trinity I-Ialdings, LLC, ei`Pective September 1O, 2(�1) (collectively,
the "Lease"}; and
WI-II;RI_;�\S, �lssignee provided financing for the purchase oP the Leasehold Cstate and
certain improvements an such ground leased praperty (thc "Lcaseh�ld l�state"}; and
WI-I1JRl;�IS, for the purpose of securing and enforeing the payment oblibations of`Assignor
to /lssignee, Assignor naw wishes to coilaterally assi�n the Lease to the Assi6nee throu�h the
L,easehold Deed o�'I'rust attached hereto as Lxhibit "n;" attd
WI-I1;RLAS, Section X.i oI' the Lease pravides that it may nat be callaterally assigned
without the writtcn c�nsent of City, at City's solc discretion, and Assignor has requested the City's
consenl;
�
, � : � . � ,
� � s � , _ � - •
. � *
r �
I. Assignc�r shall pay to the City a transi'er Pee oI' One Thousand Dollars ($1,000,00) in
connection with the C;ity providing its consent ta the Col3ateral nssignment of tihe
Leaschold [;state,
2, /issignor will pay or will have nssignee pay Por all af the City's adrninistrative costs
ari handling and proccssing the assignment af the I.,easehold Estate from Assignor to
/1ssi�nee,
3, Assibnee certiCes that it has rcvicwed the L,ease and accepts ihe provisians applicable
to the Assignce as L�nder.
4. llssignee shall give the City copies ol' any wr►tten notice which Assignee gives to
Assignor af any default by ltssignor under any {inancing a�reement, promissary note,
or the Collateral Assignment at the same time it gives notice to the Assignor. Any such
notice shall be delivered as fallows;
�
. . .
♦ R +
i- . .
�� r
� �� �� . � ,
� w - . - � „�
1 � � '•
�- � . � 1
� �
� !- �
I� - � .
- .� �- � � � �- � _ -- . � - �� � �� ♦ . * �
� � . � � � � . ., . , � � . . � � � � ������� , � �� • - . � � , � . .
. � - r� . � . _ � , . , � _ . . � . ., , � - . �� � .��� �
• -, � . � -. . � .
, . �, _ � . . . . . � �� . � � � � � . .
., , , � . . . .� - . ..�- * . -�� � � - • � �.
�. . _. , �, � � .. , �. . . • - � �
. .� :�, ., �
� . !-�.
! � .
.� � ,
.
�, � . s.. �- -� - •�.. � t� . , � ..
� � � , . . • . . ���� � � ����� � � � � . � -
� . .. � . � �� . . � . . � . . �
. . .- � , � ♦ ��r . - � � �
.� • . - � ;�, � . � . � �, � . � . ., . � . . ���� _ � . �
� ����� ' s , ��'�� � •� � 4 �� . . _��
.� . . � � �, , . � . �� . . � . �� � < . � . �
` � � ♦ ! � M . . . '� �� . � ` � A •'
� • i � ♦ ♦ 1 . �' i` ' � � * . .♦ � ♦` `s ,, f i. + .
` �� ' � �, . �. � . � � ,; � ` . �' � ^ � �'� ' • � ��� � . . . .�
i''� i � ♦ � �. ., � � ,
9. The City hereby represents and war•rants that this Consent is made with proper authority
under Ordinance.
�
a t .i .�, � Ii ` �� 4�� ���N .� `
` ��1� � � i � 4�:� f � � `�';� �i � .�, . �� .,
�
! � � . . i 1 - 1 4 � . ` � � � „ . , i M i -
a � -- ,i� "� � �;i ` .f`.� . , � � � � ' i�, �i�
f 1 . � � � ., . . . 4- M` i � i
� � � ` � �' � ` • �i� . �� � ` ` ' � i � �, . . �, ..
� , ��
� `� �,'," .� � �, ` . i� � . . � J p '�
� ���f � � . � . � .. . . . � ��� � � i '� ' I�
� ` i. . . 4 � f. . . i �
� i .., � -� � -. " ii � �. ., �. �, �
. �,� . . . ... � ��' � f � ' � . .�, i
�� 11 ' � ` i . � .� . . . . �� � .� ` . �� .
. . � .�, � . �
� �. . i �
�
Dated;
ATTEST:
ROSA RIOS, CITY SECRETARY
��� f°` �
.
,�� � �.
• � r� �
Y• � � �
� � ...
.. � .�
.. _.
�� �_��� � � ���
THIS AGREEMENT HAS BEEN
BOTH REVIEWED AND APPROVED
as to financial and operational
obligations and business terms.
� ������„ ��
��� ���w� �
W ... �
�� �:u�r�x�:�
�"'��� __��� _�'�,�-l�„� _
1 ��I�� � �
�^ � .� ...��� �"�� w.��..��.� ..............�.�..���.�..�.
17epartment
Date Signed ��',p'���� �''
ASSIGNOR:
US Trinity Holdings,
limited liability �.�,�r���:�
,� .
By: '
r
Name: ���"�"�`_' ��
Title ��������p����.�..
ASSIGNEE:
a "I"� �; �� �
Guaranty I��a !� & Trust
� , .µww
Narne: ,. � � ..
BY� '��� .. .......
� � �"" � � �. ��� � � �° "'� --
T1t10� .�........�w��q,��."�.�?:s��e�....�......__......5'�.��........�....":..°� :.....................................�..���...�.�...
CITY OF DENTON
Land lord
w �,���
B ° �
� v. �
y • ��.... m
� - .. �"
_ ...�... �..... � .......
Name ���" � ��::� ���'�,���� - --_
Title. .,,,,,.�...rc�—�.�����'��.,.�'�� ......
Page 4
���� �� �m��
� .. «� ��
APPROVED AS TO LEGAL FORM:
AARON LEAL, CiTY ATTORNEY
�� � �� ,�
� � �^� � ��� �
By, �� ��
—
���....� -�... �.,.:
Page 5
ACKNOWLEDGMENT OF ASSIGNOR
STATE OF TEXAS
COUNTY OF DENTON
� �����,��
This instrument was acknowledged before me o���n� ��� �. �, 2019, by Jim Haltom, ����e,����
of US Trinity Holdings, LLC, a Texas limited liability company, on behalf of said entity.
�t ,�, , �,,, r � � .����
Pi � I'{P,il,i.l°�',l r,� I fF'�.(� I�V I a�
� �
� ���'" I��iwCdr�Yar;�lli i 1'')�� iF�.(J
a
�� I �I�u� f�� Irai,r � i�', �r>>�i '�
� �, � ,�� �,��� �� �, �� a�-� � „d � , m .�„ „ , ,<�l
STATE OF TEXAS
COUNTY OF DENTON
NO � ���� �BL� ......,.
----_ � _......
� � IC, State of Texas
ACKNOWLEDGIO'IENT OF ASSIGNEE
�.. _
This instrument was acknowledged before me on��,���'"�� ���� 2019, by �� �"� "� �'_ �����'�� ,
of Guaranty Bank & Trust, NA, on behalf of said entity. �
����'V��„�
�J��� "p���"�"HfJA �������4���ffi`�'
e� �^�� � �b,rk:�iy i�e�l�l6�;
� ,,,
� � "���"�" ' ^ �� Sl AT'F_ �'�F TEXAS
�� ���,,w,� �[��"V"�,'��398$s-1
� mN`��+��A� � ���tiiil^�� �1t �� . Feb. '��� �f'i�" 9
ST'ATE OF TEXAS
COUNTY OF DENTON
�, �,� �°��
.�
�� �
� � � r
� �,� r' � � � � ,,�. ..
��� � �m �.. ���
� � --........ _.
"� NOT�►.1�� I��.���C.��C, State of Texas
ACKNOWLEDGMENT OF LANDLORD
Tliis instrument was acknowledged before me on ������R��� �`� , 2019, by Todd Hileman, City
_ ___.__ ________
Manager, of the C1TY OF DENTON, a Texas home rule municipal corporation, on behalf of said entity.
�� � ����� ����� � �� �� ����oW �.
� ��UUKrv� � l�El�(' I lil( F1l"lil�`��11�
�
��art pu e+ V"����Ilu� ', i, nVd� �n� laiq� ��
ra'��� . ��,"'�� �`upuus���.u, k� tiprirr���� 4J��S ,��r.��"�����
,��, .
� � r �n�.� I��C'�k�Alir (r� fi/°i7�"6^�
u .'Aue�trrrcw � ��� �.����., ��� .ww.o �
�� � �..,,�� .... � ,�m .:
���m � � �
., .
���������........�'� �'�������.'�.������..,������� ��........_
�" '�
N�. 1'ARY PUBLIC, State of Texas
Page 6
, � , �,
� �, R ,
� "' �I ik � � � i4 � 1� . �- � " ' �
I�EFlSCIi()C.� ���� �I+ �r«�s.i.
$'��'ildw "�t�IT�ur�m°a���+�LLa��exa�aQ�at�M��w�lti���t�a���r� ��h ��arM�,rop
COUN`CY OF� DL?N'I'i�lv
i, �� � ..,��
. ♦ + �
���� �� �
�� � �� r �� ,��� � �� �•-
` f ' # � . �
� i
* . .. � . �� ��. �
... �' '. �, � �... y.
4 ,, �. w �! , � i � #
� 4 #
,�� .,.:♦ � . ;... ��,�.
� ..... �� � *. �.. � .. * .
� '��.. *' f�: *
;�.�.� �", .'�.�
� � �� �� �
..� � Y-:... . �' ,� ,.M . t�.�
f #�.�� � .♦ !'"..
� �
. ... � . �� ��. �.. �
i ... ��. * ' ��
.. � �� ��: ! / �"
� �� �:.: � ...: ♦ ��... - ., �: �: �.. ..
s � �,. � �. 'R � �
, .... .�.#.: .. � .,. 1
'♦ �
� 1 ♦ ����� �� �� �
► �
i # �
f *
'�, f � � � ........ • �� ��. �
.. �... ♦ ��� �
��, .��.�.4 '�
W:A%076VU92\DLiCI}'fR9 UOCX ^" � �•
� i f �� ` ��.;
y � � �'
�� � � I, `�. �. i* ��. / . � � r
� I �
��. � � �i�. �i * 4 � F
�, . . . � � «: �. � « �, . � ,..: � y .. : �
i�' �. � * i � �
� � ���'�. � � . *�,�.
� �
� �
� � ' � ... �,:' � * ',,�.
*
I� F' � �
�
� � � � •
�' F � I
��..,� R / �. .�M�
* � � ♦ I �
�. � �.. �. � I � �
� #
�. *
� *
� / M' � *
� � �
* � *
:i� `� *','� �
♦ �, �: * �'�.
� #
�.�' �� ,� * A� � .�
� �
� 4/ � *
F �' �-
L { � 1 1 � � � �. I
A � �
� t � ;T � � � � ,
� � �� / �'i «.�'
�. 1 � �
� � � �-
*
!�� �.�, y
� �
� �
�
* �, . �� ♦
♦ ♦ � �
� r r ��
.'� x ' �'� �- � ��� � � , �
� �
"N':19PTR1QI��AI:��Ell:1°'C11E�ti ➢.1G�6."Y. ^ Z "
�
. ,�
� �. , . � , � . � .
..
To better secure paym�ni of such zndebiedness, C'arantor do�s hereby covenant, w�rr�nt and represent to and
agree with Beneitciary and �uith the Trust�e as fol[o�vs:
� , ��; . . � , � - r .
w ������+r
�
�
M #�" i � � ' 4 .:
� � N• � �
� �- i
4 4 ...... �.'4 ♦ 1' '... N �M ."
#1 i '
� �
■ ,� � - i ` ♦�'�
♦ i « N l
� � ,,r.� • � ,r
�f f • ��N
11 f 1 � N
M
4..: i..... �
� ♦ ` 4
� ►.. ...♦ s �:� f :,f
f� � 441�
* ,.. # �' ��..' • � . l... .. 1 .,
i
� .. �F i ,...... .... M
�` t F`.. N 'M
� l i r �F �..�4 i�...
w M rt
♦�. �� '�. '�
, r .. ." � N�..; �
r • �.,
♦ ..' ,...,� � .. � .. ,.. ....� ♦ : . • . i .......
� �
M � �
1' ♦
#�.� ....�.'.M !
, _ • � . Y . ',. # e,.: t ♦ :r; . . ..
� � ! y
R � �
4���... � ..�,�
.,
M,� � i,. � ..�
#
�at:�ro�r��t�a�ztr��Ei�°zr�s �z¢�e�x, �� 3 �
. �. « �,+
� M� r . �� , �
� � �
* , . � *.
�- � x� .� .
. ,�r . � ,� .�r � � � - ����� � . • :���r
� . . . � . � . �,
r�� � '�
• r' `� r ��� '• ��z
:� . M�;� ,� * '��
���F � � � �� � + � � �
� � �� � • � i �, - r �
� �� ��. � '� 4 � ��.. '.
y i� �,
� � � ��
�� � �,�
i - 1,
��.R � M��' �I
�* �"� }' 1+' i`.
f M *
*,,, �: ��. � �w.i y ,.
� � f
� �: � �
1 �i ' �
��: -.... • ! � �
� ` �� � ��� ��
�. �, � ' � �' ^ � �i
� � ' ��
� y- 'r *
�, ♦
�
�. ' �� w �� � v � � - y , , ��,
-� � � M s •
, � �, * � �
.�� -�
� ♦ . � �► �� � r' �
`w -r �
�` • �
� * �r t
� �
, s
, �
M � � � � y��
:- �`
� � -� � � �� . , � . �. .
*„ . . . �
-, r.
� � � � ■ � � � ���
, � r •
�� � �.' � :' �.;
Vnh1'7'(k7�'tC��2;tll:1�EYV:;�'"k'IIY�°�.Y.'FQ:DG`�: .` 4. �.�
� +
� +-
, -+ *
� � -,�
� �� w�
� ��� :� ♦
R �
��� � �,� ��� �'
. - �.
�: ♦ . '�; � , � . , �
� �
, �
� � * � .���� `�� i a� ;�M .
r � . � t • ���, - ��
� � ��
� , ,. . . . � , . . �
��� . �� - � ; �� - � . ., . � . � # .
� �
+
♦- s � � � �
�. �♦ � , � � �
�� -�;
i• + •
. ♦� � � �; � '��� +
,. . � �,�
ti�'r ♦ � r��
R �,, � r - �f ♦
�, t � + : ' *
� � � �
s . M +
r� + �
, :
A +. �. � ,� ���,
�
� �� � � � • �� � .„��� � � �
�. . . �. . . . . . . . � r �� .
� ♦ �
*
�
� r
� � C' � ♦ � .
.� ; �� � * , + r
-• -� +
+� � � � r � .
.. � �
� *.* �,
� . � �
� ' �`
�
� + � - r �
�r�a'����t��=�a��c����irs°r.rw: z:s��:�. �� 5 ,�.
�, ,r 1 #
� ....... M.:
� � M'
� ��.. �� � � l � ,.� � !
� � � '
.. ,r ,.� .�� , �, �
� �/ �
�...... i ,.. � �'., ►..... .
� M ,., «....... .. � ' �........ i ` �.. y � ...
�
... . ,.; ....� .. � �.. ,.. . .
�. w, '� y�,,� .: � 4,,,,
. � ., . .. . r ' . � �. # � .... �, ♦ ' �� ��� M
���.♦ �' � ` � � R
�
N• !y
w '/ �♦
♦ 1
y'...` � �♦ �;� 1 � .
M M N
M ' � !', '�
♦ ' i
� � � ♦ .�. ! � ` ����.� i �
' .' �.�' �. �, . ■ .- � � .
�... � :��.:
. . �.,
t �
� �
r ♦ �
� •� +r�� �
� M
. � . � ,. . .
�� � ♦ . , ... .; � �
y *
y. � M � M/, �;
' Y , ', ♦
� f ♦ 4 '1
�:.......�
y � #
� �
� '�
# N
i• � 4• �
4�... ' ♦�'.
"AJ:1"7d"F�IG°Sb2.AL�1�;'iF.',IU°"I'C"�4b L9f7S:7?t � 6 —
shali not aff�ct in any way, the right o�'the Beneiic►ary to the �ppointm�nt oia r�c�iver gzv�n th� �eneficiary by
law.
» � �
� ,�; .
�, �. � ,
. � �
. - -� +
- �, - r r - . �-
� . ,� . A
�
• �
� � M * �;
�� � . ^ y� ; , # ��. J
'� �, ..�
M 1 �
.s.. . . � ..... ,. - �. . .. ..
� �"�� �..�.'.
,r #� �.. .....
M
� � ., ... y .. i'. M
4.�.... � �.�.. ♦���.�
R �,
� � �M K.� • �...
r �
�.
i !
�i� .�
�� �. N � . ���. i 4',
,,. . 4 ....... N �
Y '... �'. 4 � � � y . � 1
Y� * �
� � f ♦�. J ., � , . . �
. � � ,�. . .. !
.,....� ..�,
19, �a�rl�r�dia�����x�llr� 1;1�I�d�t�1.
� •
+r � � '� �M;� . ..
4 i
I i �
....� � �.. ,y # 4 ...� �
, � . � 1 ". ' � M
�
�F ... . • .�.. M N , 1 w ... ., ..: 4 N... ��..:
i i
N 4
1 � �F
w, ♦ • M
°vt!1A"7'G7@k\rl'�7\fbVxlk�i.1�D ll Xd v IC1Q1C'N: _. '% .�
I�� • .. r l:,�. .� M�
M �
�
N � � ' *
� . �, �.,' � �. � � . �, ; r
� �
�',, I'
4 i
. � y'.
!
�
#
": E 1��,����.. ...�.i ...:, 1
.. ♦ � 1 �.... ..
. � 1 .#( �.; 4
�` � ��.y i,.:... •'.,.
,....y .. � `
� �'
y � ri �, . .. y M
,,.r � "� y � .. �� ' �" ' # �.�
4 ♦ � `N � 1
* �' 4
� . � . .. � � . ' �
i a
.......� �: .... � � �.: � �....� *
�
* ♦ ' #. ♦
.. !�. � � y � ; .- . N ,". � ,
. �� .... � ��....
., �. M �.��... � : ,.. y � �
!
� �� � �, � y . .
. N �, �. �.. R � � #�. .,
• 1 �M
` �.M. � . r. ..� �...... � ..:.. 1� �I # .. ��, �
� r �` 11 i ...
* E �
# 1
y M � .� � t �. i . �► �
# ',, � ;t ` 1' ; �, � � " . ✓ M . ..
M #
4 �.. � r ,. � . : ! �
°J��,A7�9�'�riP\�?"�4\llbll.11lallu�➢%'zIL'Y{7k.'7d': " � _.
, �- . _
.
.� .
«
.
.
. . .- � 1��
,• .
4��, : G 4 t . 1 � � i
4 I M �
i, �. �. 1- 1�� I . 4
�, b I R
k � � 'i � i �. �!
I 1 ' '
� �
�,.
� R
�
'� � R i
f «
' *.
l�, � �- .......
4 �w, ,
♦ ' K l
i + �
M ;� • �
� � ,�
, r.
� � � �
�r.�, r�-� � ►��,�
a
.. �.
► . �
� " �
� �
. r
R, ,, � R
`. � "
1 ! f
�
� .
!
� M F
°vV':A7C�'7'�'\d"31,Ai3ll3llsI:b'"C1�i:�.Ib41P,"'n " 9 TM.
(f) "I`h�se pr�s�nts shall noi be d�emed or construed to const►tut� Beneircrar,y as a"mortgagee in
possessroc�i" of°the 1Vlortg�g�d Property or to obligate Ben�fciary to take any actiort her�under, to incur e�penses or to
perform or discharge any obiigatioc�, duty or liability h�r�under or under any of th� leases of the 1Vlortga�ed �'rop�rty,
28. �Ir� ��G�rr��a¢�u�r���. I�����•#.�ra�c*. Grantor will not, without the prior written cons�nt of B�neficzary,
eacecute or delzver any pled�e, security �greerri�r�t, mortgag� or d�ed oi trust covering all or any portion of th�
iVlortgag�d Property (her�ir�after call�d "�aaB�cyr�ali,�,�.a���.....1"�I;��..��u�,,��"}. In the evez�t of cons�nt by Ben�ficiary to the
forego°rng or in the �v�ni the for�going prohibition zs determin�d by a court of comp�ter�t jurisdictiot� to be
un�nforc�able by the provisions of any applicable Iaw, C'rrantor will not ex�cute or d�liv�r any Subordinat�
1Vl�rtglge unless ther� sh�ll have been deliver�d to f3er�eficiary not less that� t�r� (10} days prior to the d�te ther�of a
copy thereof which shal[ cor�tain expr�ss cov�nants to the effect:
(a) That the �ubordinate 1Viortgage is in all resp�cts unconditrona[[y subj�ct and subordinat� to ihe
lien, s�curity interest artd assignment evidenced by this Deed of'I'rust and �ach terrn and provzszort th�reof;
(b) That if any action or proc�eding shai[ be instituted to for�close the Subordir�at� Morigag�
(regardl�ss c�i�vvh�th�r the same zs a judicra[ proceedzzag or pursuar�t to a pova�r of sale contained iherein}, na ter�ant
of' any por-�►on of the 1Vlortgaged property wili be narned as a party defendant, r�or �ui11 any action be taken �ith
r�spect to th� It�or�gag�d F'ropea�y �vhich wou(d termrnate any occazpancy or tenartcy of the 1�/iortgaged Properiy
without th� prior written cons�nt of F3erief ciary;
(c} That th� �tents and �rofits, if co![ected through a r�ceiver or by th� holder o£ the Subordinate
Niortgag�, sh�ll b� app�i�d frst to the ob[rgatrons secured by this Deed of T'rust, ►ncluding principa[ and inter�st due
�nd o�rir►g on or to becom� due and owing on the Note and ihe other ind�bt�dness secured hereby and then io the
payrn�nt of maintenance, operating charg�s, t�xes, �ss�ssments, and disburs�ments incurr�d rn cortnection wrih the
o�rn�rship, op�ration and/or maintenance of the 1Vlortgag� Property, �nd
(d} That if any actror� or proc�eciing shall be brought to forec[ose the Subordinate Mortgage, writien
notice of th� comcriencement thereof wi[3 be giver� to �eneficiary cor�temporan�ously with the cor�amencement of�
such actzon or proceedrng.
24. �'��a�ara�resa��' iad" ���u���,�����������a a�.u��r��a To th� ext�nt that proceecls oi the Note are used to pay any
outstanding lier�s, charges or er�cumbranc�s against or aff�cting the Mortgag�d i'roperty, such proceeds hav� been
advanc�d by F3er��ficiary at Cirantor's request, and Beneficaary shall be subrogated to all rights, ►nterest and liens
own�d or held by any owr��r or holder of such outstanding liens, charges and encumbrances, irr�spective oi whether
such liens, charges or ertcucnbrances ar� rele�sed of r�cord,
30. I�,J�,�r,a� ������vd��� I�r+M����i�rrr�,�. It is expressly stipulat�d and agr��d to be �he intent of �rantor and
Eienefciary at al1 times to cozr�ply strictly �vith th� applicable T'exas law governing the rnaacimum rate or azxrount of
interest payab[� on the Indebtedn�ss (as h�reinaft�r defined), or appl°rcable United States federal la� to the ezctent
that such la�u permits �eneiiciary to contract for, charge, take, res�rv� or r�c�ive a greater arrcount of �nterest tharx
under T�xas law. F°`or purposes of� this provisron, PPIr��N�°R��c eWrr����" shall mean a1l indebi�dness evid�rtced by the
Note, arcd all arrtounts payab[e zn the performance of �riy cov�nant or obiigation in any of�the other Loar� I}ocutnerits
or any oth�r commurczcation or writing by or betwe�n Gr�z�tor and Beneficiary related to the trans�ctio�a or
transactions thlt are the subj�ct ma�ter of the Loar� Docurner�ts, or any part of such indebtedn�ss. gf the �pplicabie
(aw rs ever judicral[y irit�rpreted so as to rer�der usur'rous 1ny �rnount contracted for, charged, talcen, ceserved or
rec�id�d in respeci of the Ir�d�bFedness, includ°rng by r�ason oi th� acceler�tion of� the maturity or the prep�aymertt
ther�of, then it is Cir�ntor°s and Ben�fciary's express intent that all amounts charged in excess of the Maximum
Lawful Ftat� (�s hereiriaft�r defined} shall be automatical[y cartcel�d, ab initio, and a11 amounts ►n excess of' th�
1Vlaxirnurn Lawful Rate theretofore col[ected by F3eneficiary shali he credited on th� pri�cipai balance of the
Inctebtedness (or, if the T�debtedri�ss has b�en or wou[d thereby be paid in fuil, r�funded to C'ararttor), and th�
provzsions of the Note and ihe other Loan L)ocumerits shal[ imrnediateIy b� de�rn�d reform�d and th� amounts
thereafter co[Iectrhle hereur�der and ther�linder reduced, without th� nec�ssity of the execution of any r�ew
docurrient, so as to corr,ply with th� applicahl� laws, but so as to perrnit th� r�cov�ry of th� fullest amour�t otherwise
called for h�reunder and thereurtder; provided, however, if'th� Note has be�n plid in full before ihe �nd of the st�i�d
�v',v"rea�r�,vn�ravVsu��:u�:alb u�V�=, Ilbr��:'� m 10 '
.* ,. .
.{
. � +
.
� ;.
� 1 . —
^ *� � � _
- �� � C. . � . � � �� . . �
x � � ,� �
* ; �: �
, � � � -r -
r rR �-� � w ,, , y
, �:
♦ � , t� � � . � , � ��
♦ ` � ..' � ♦ ��.. ... �� ....... �
i � � � � �..... � � ;...'
♦ � �' N
# . ....... 1! . .
t .
� ; �!.
.... .. �M 1���..�. . .#'.... +
R �
4........ ..�.a f ..... ' `
� w M
....... � / # .
�` # �
�
� : y i : :� ♦ ` � . �,:; . ..
� �
4 �
4 f ;��. ..�' �.�....
�,-
4 �,. � � ,� � y '
*�....... ♦ :�.. � �
� # ♦
: 1 i, �, ' • • �. .« i �.. �� �w
�* �
I '.. y �. n; � • •
� �� *
y ...� � ��.1 �
... • `��..N i � r,,', `w :
� ; .... . ,... N ♦ .. .,.. ,.... 4,. �..
�# � �
: ! ' 1 *.....
I �
,. � , . .. . . ..
s,,. +1 .,. 1
w:��7ur��ra�a�ua�:u:;z.��un��;��aTcx m 11 m
agre�rrrrient b�tvve�ra Grantor as the debtor and F3eneficiary as th� secured pat�j�, �nd Granior hereby grants to
Ben�ficiary a security ►rtterest zn such portroc� of the Il�Iorkgag�d FroperEy. �umul�trve of all other righis of
Beneficiary hereund�r, Benefciary sh�it hade a[I of the rrghts conferred uport secured pariies by the Code. Grar�tor
will e�cecute �nd d�Iiver ta Beneirci�ry ail financing stat�rnents that may From time to time b� requzred by
�eneficiary to estab[ish artd marntain the vaiidity and prrority of� t�te s�curity inter�st of ��nefciary, or any
modification th�r�of, �rtd shall bear all cosis and �xpens�s of aray se�rches reasonably requzred by B�neficiary.
F3er►eficiary cnay �xercise �iny or all of�the r�medz�s of � s�cured party av�ilabie to it urid�r the Code with r�spect to
such property, and it is escpressly agreed that zi upon def°ault �3enefaciary should proceed to dzspose of such prop�rty
zn accordance wiih the provisions of�the C;od�, th�n ten (10) days ctotic� by B�nefici�try io Grantor shall be d�e ed
to be r�asonable notic� und�r any provis°ron of the Code requiring such notrce; provrded, how�ver, that F3enefici�ry
may at its option dispose of such proper�y in accord�nce with F3e�e�iciary's righis ar�d rern�dies �vith r�spect to th�
re�I property pursu�nt to the provisions of this L}eed of Trust, zn Iieu of' proceeding uc�der the Code. P�dditioz�ally,
but not rn 1►eu of an,y other rights he[d by �3enefcrary, Beneficz�iry rriay offset agarc�st �ny accourtts or sums of'
Grarctor h�1d by ��neficiar,y up to 9h� ful[ arrcount of the ind�htedness s�cured her�by, as the same becomes du�.
(b) ��a�a�c cwN" 1�9��rwa M+tc°W C'irantor shall grve advance notice in wriiing to �eneficiary of any
proposed chan�e izr Ciranior°s nacne, identlty, or structure, and vviii �xecute and delrv�r to F3eneficiary, pr►or to or
concurr�ntiy with the occurrence of any such change, a[[ additzonal finac�cing siai�rne�ts ihat ��neficiary may
require to �stablish and mazntairt the validity and prior�ty of Beneftczary's security inter�st with respeec to �ny
1Vlortgaged Froperty d�scrrbed or r�ferred to her�irt.
(c) �+'i'�;�tivar•cw�. Should sotrte ofthe itecns oiNiortgag�d Prop�rty described her�in b� goods that ar� oc
ar� to become fixtur�s r�tated to the rea[ estate described herean, it rs intended that, as to a�y such goods, this De�d
of Trust shali be �ffectiv� as a fr�ancing statemeni fil�d �is a frxture ftlir�g from th� date of its frling for r�cord in the
rectl est�t� r�cords of�the county in which th� 1Vlorigaged Property is situated. Inform�tion concern►r�g the secuz�ity
►nterest cr�atect by this instrumerrt rrtay b� obtain�d fcom �en�ficiary, �s secured party, rit the address of B�neflciary
siat�d abav�. The mailing address of the Gca�tor, as d�btor, is as st�ted abov�.
34. �vax�° �a���lt I�,xN:��t����c��w� Grar�tor, if a co�-poration, agr�es that as Iong as it is th� ow�aer of the
Nlortgaged Property, it will do �ll thir�gs necessar� to preserve and ke�p in iuil force and �ffect its �xistence,
f`ranchises, rights and privi[eges as � busir�ess or stock corpo�-ation und�r the laws oith� state of its incorporatzon.
35. ����M� ������ � r,�ir��11 ��;�«i �������s„ The covenants herein contained shall bind, and th� bene�'iis and
advantages sha11 inure to, th� respectiv� heirs, executors, admir�istrators, p�rsoc�a[ repres�ntatives, successors and
assigns of°th� par�{�s her�to, and to any subst►tute Truste�. i�lhen�ver used, the srt�gular nurreb�r shall rncluda the
piural, the plural the singular, and the us� of any g�nder shalC be applicabl� Yo a[( gend�rs. 'I'he term "Cirantor°'
sh�11 include in th�ir ir�dividuai capacities, and jorntly, ali parties h�r�inabove rtamed as Csrantor. The term
'Beneficiary" shaCl also includ� a�ay lawfui owner, holder, p[edg�e or assignee of any indebtedness s�cured hereby.
7`he du4i�s, cov�nants, condztzons, obligations and warranties of Grantor in thrs Beed of Trusi shall be joint �nd
saver�i obliga9ions of C'rrar�tor and e�ch Carantor if more thart one, and C'rrantor's heirs, personal repr�sentatives,
succ�ssors and assigns. Each party �uho �xecutes this L)�ed of T'rusi (o4h�r than F3enef ciary}, and each subsequent
o�u��r of the I�ortgaged k'ropertyy, or �ny part thereof, covenants artd �igrees thlt zt w►tl perforrn, or cause to be
perforrr�ed, each conditioe�, terrn, provision, and cov�nant of this Deed �f T`rust.
36. (:�'ar��N�►Ni���ec� r���i��.�n I�,z,�Wl��farra�,��, �rantor itiirth�r agrees to corx�ply with �11 r�gulations, rul�s,
ordinances, statutes, orders and d�cre�s of any gavernmental authority or cour-t applicable to Grantor or the
Mortgaged Prop�rky or any part thereof. Cirantor w�rr�nts, covenants and agrees to comply with �[l r�strictions;
restrictrve covenar�ts; condozr�rnium by-lavvs, regirnes arid declaraiiocts; and/or a�[ oth�r rules or regulations,
gov�rr�m�ntal, public or private, applicable to the Mortgag�d Property and the oper�tion or ownership thereof.
37. e��s �wo This instrument is �xecuted in Texas and shall be governed by and cortstru�d iti
�ccordar�ce with th� lavws of th� �tate of Texas, e�ccept to the �xt�r�t suc6a lavvs have been pr�empted by feder�l laws,
in which case fed�ra[ laws as �ppli�d in Texas shal[ govern.
v��,��rar�r✓�nb��rmA•��,!;¢��!�te�,a,a�sr:;� — 12 m
[�.��i�r��.�z c��, ���� z,�:r��r ��,��� - s���� ��� ���� ���,�,c��rs]
�v':E�r��"a'ffl��v��aa:t�ss��^;u��:�a"ra� � uars� x — � 3 —
EXECUTED effective as of the Effective Date.
GRANTOR:
US TRINITY HOLDINGS, LLC,
a Texas limited liability �,;�rj���a��Aa�r,
I�
STATE OF TEXAS §
§
COUNTY OF �� ��,""° §
This instrument was acknowledged before me on the �����, day of ��„ �� ,_ , 2019, by James
C. Haltom, President of US TRINITY HOLDINGS, LLC, a Texas limited liability company, known to me to be the
person who executed this agreement in the capacity and for the purposes therein stated.
;� � „ �,,,:: , , , ,, , ��.
,.,,1
y�l .� 1�/11 1�J1 Il�I I I�(� I'jl I I JY.
f� Jl �rg , �..
� �v�� �' � 1 i � i�/ � ��il � I �I r l� � ���'I'j if (� ��
r.
r
�� �ili �1rii �i i �r� /f� ll k
%
"�%s .�m��,� �� , ��� .d „,, , P, � � �u�„ ,� n,��a
�
P*�a�zt,���w� � � �� ���^�'
� ,, .a.d... _.. -� — . � ,,,, ��..�������
e � �ral�lic, State of Texas
�
����°��'�° � � �. �����.. ���---- �... ... _..m�..�. ......
My Commission Expires
W:V078\092�DEEDTRSDOCX — 14 —
EXHIBIT A
ALL THAT CERTAIN TRACT OF LAND SITUATED IN THE THOMAS TOBY SURVEY,
ABSTRACT NO. 1285, DENTON COUNTY, TEXAS AND BEING TRACT ON� OF A
PART OF A CALLED 74.94 ACRE TRACT OF LAND DESCRIBED IN THE DEED TO
THE CITY OF DENTON AS RECORDED IN VOLUME 304, PAGE 503 OF THE DEED OF
THE DEED RECORDS OF DENTON COUNTY, TEXAS AND BEING MORE •�
PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A 1/2" IRON ROD FOUND FOR 7HE SOUTHWEST CORNER OF THE
TRACT BEING DESCRIBED HEREIN WITH STATE PLANE COORDINATES OF
NORTHING: 7123410.25 AND EASTING: 2637635.45;
THENCE NORTH 00 DEGREES 02 MINUTES 20 SECONDS WEST A DISTANCE OF
151.53 FEET TO A 5/8" IRON ROD MARKED CHA FOUND FOR CORNER;
THENCE NORTH 13 DEGREES 27 MINUTES 05 SECONDS WEST A DISTANCE OF
67.04 FEET TO A CAPPED IRON ROD SET FOR THE NORTHWESTERN MOST
CORNER OF THE TRACT BEING D�SCRIBED HEREIN;
THENCE NORTH 76 DEGREES 32 MINUTES 55 SECONDS EAST A DISTANCE OF
154.65 FEET TO AN X-CUT FOUND FOR CORNER;
THENCE NORTH 13 DEGRE�S 58 MINUTES 18 SECONDS WEST A DISTANCE OF
24.27 FEET TO A 5/8" IRON ROD MARKED CHA FOUND FOR CORNER;
THENCE NORTH 79 DEGREES 57 MINUTES 32 SECONDS EAST A DISTANCE OF
453.56 FEET TO A 518" IRON ROD MARKED CHA FOUND FOR THE NORTHEAST
CORNER OF THE TRACT BEING DESCRIBED HEREIN;
THENCE SOUTH 19 DEGREES 52 MINUTES 14 SECONDS EAST A DISTANCE OF
'100.71 FEET TO A 5/8" IRON ROD MARKED CHA FOUND FOR CORNER;
THENCE SOUTH 04 DEGREES 35 MINUTES 14 SECONDS �AST A DISTANCE OF
261,70 FEET TO A 5/8" IRON ROD MARKED CHA FOUND FOR CORNER;
THENCE NORTH 89 DEGREES 57 MINUTES 35 SECONDS WEST A DISTANCE OF
96.77 FEET TO AN X-CUT FOUND FOR CORNER;
THENCE SOUTH 01 DEGREES 00 MINUTES 25 SECONDS WEST A DISTANCE OF
143.39 FEET TO AN C-CUT FOUND FOR THE SOUTHEAST CORNER OF THE TRACT
BEING DESCRIBED HEREIN;
THENCE NORTH 89 DEGREES 43 MINUTES 34 SECONDS WEST A DISTANCE O�
145.45 FEET TO AN X-CUT FOUND FOR CORNER:
THENCE NORTH 00 DEGREES 14 MINUTES 06 SECONDS EAST A DISTANCE OF
142.66 FEET TO AN X-CUT FOUND FOR CORNER;
THENCE NORTH 89 DEGREES 58 MINUTES 20 SECONDS WEST 386.48 FEET TO
THE PLACE OF BEGINNING CONTAINING 4.730 ACRES OF LAND MORE OR LESS.