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I-~~.J~G~NS~~K:1~E~T LEASIIltG CQ., INC4RPORA'~?I~?
CHATI'BL MO~tTGAGB ~'I.tUS'~ DHAU (Set~uity Ag~ement) ~
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TAIS CHATTEL MORTG~IGE TRU~T DE~D, dated sa ot....»..» .................~.~AY.,9XLlbP.~...1~.,.».l.~i.4. ~
~ ~ from Huggins•Knecht Lc+aaing Co., Incorpor~ted, • Texaa corporation (th~!"~mpany") having ita prtndpal oifi¢e ~?t
Ds~llan Athlsttc Club $uilding, Dsllae, Texss, party af the tirst part, to dell E. EriC son whoae
a . .
~ poat officQ addxess i~ 99 Nancy Avenue, Pittafield, Maseachueetts
, pariy of the second part (the '°T~ruetee")~
` - wY~rx~ss~Tx :
~ w~ExEAS, BERKSHIRE LLFE INSURANCE CaMPANY ~ -
(the "Purchaser") ~+nd We Company have entered into s Note Agreemant dat~d of ua ........~4.Y.~~~~x..~»..~?~....
~ (the "Note Agreement") praviding ior the issusnce and delivery to the Purchaser ax~d the commitment o! the Porc~a~er
~ to purchase !rom time to time on or be~oraU~.~~A11k2~~..Z~......~.9.~i~the 6~~ya Chattsl ffiortgnge Notee (the'~l'otea") ~
, 3 of the Companp not exceed~~ng ........................~~~~e.QQQ~ QQ.................................................., in aBgreBnte prlncigal unouat
exprease~: to bear interest at the rate of 6~,6% par annum prior to maturity and to uiatnre in ths monthly installment~ on
~ the inatallment maturity datea apeciiied in the Note Agseement, with a iinal inataliment not more than ....1Q...... yeara
! lrom the date of isaue~ and to be otherwise aubatsntialiy in the iorm oi~ and to provide ior tho contingent paymenta
set torih in, the form of Note attached heret,o as Exhibit "A"; and
WHEREA,S~ the Notes isaued or to be isaued and outstanding under the Nota Agreement and all principsl thereof and
interest thereon and all additional amonnts and dther auma at any time due eud owing ~rum os requlr~d to be psid by the
~ Company under the terms of the Notes, this Mortgage or the Note Agreement are herein ter sometimea referred to as "in•
: ~ debtedness hereby secured"; snd
WHEREAS, all oi the requirements of 1aw and the by-lawe and arttcles o! iacorporatton of the Company have been ~
, fulty complie3 with anci al! other acta and thinge necessary to make thia Mortgage a valid, binding and legal instrumetat
? tor the security oi the Notes have been done and per#ormed;
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= N09~?, THEAEFORE, the Company, in consideration of the pr~miees and o! tha eum of Ten Dollars received by the
Company irom the Trustee and other ~ and valuable consideration~ rece~pt whereof is her~by acknowled , and ia
:.1 order to secure the paym ent ai the princ~pal of and interesk on the Notes according to their tenor and effect, a~to secure
~ -t ~ • the ~ayment of all other indebtedz?esa hereb~? secured and the performance and observance oi all the covenante and ca~dl-
~ tions in the Notes and in this Mortgage and in the Note Ag`t+eement contained has granted, bsrgained, sold, ~onveyad, war-
ranted~ mortgaged, pledged snd hypothecate~, and by these presents doea herebq grant, bargsin, aell~ convey, warrant~
mor4gage, pledge and hypothecate unto the Trustee, his succes$ors in truat and aaeigne, torever, t~ll and sfngular ths
following described properties~ rig~its, interests and privilegea (all oi which propertiea her~by mortgaged, asaigned and
pledged or intended so to be are hereinafter co~lectively referred to as tha "ncortgaged property").
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: ~ DIVISION I ~
. ~ The store equipment
and other personal propert~? described in Exhibit °B" attached hereto and made a~ hnreoi~be some oi the equip-
~ ment le~sed and delivered under thet certain Eqaipment Lease dated aa of Ms $I~ 1~63, S betw~on the ~
~ Company~ as Lessor, snd The 3outhland Corporatton, a Tezas corporation the "~~'j,Zand~~t}tp~ngSE-666
? ~ o! th roperty covered by SupplEmentary Schedale(s) nnmbered $~-b~l, b, dti . ,
~ ~ SE -~~'o
t
eaecuted by the Company and the I,esaee pursuant to Section I oi tha Lease; and ~
~ . DIYI3IQN II ,
All r3ghi, title and interest oi the Company as Lessor in, nnder and to the I.ea~ae insolu aa t~e Lease exteada or relates I
4~~'~ to any of the property hereinabove descn'bed, and all acceasortea, cqaiPaaeut, gsrta s»d sppwrten~nces s pertattiin os .
a» g
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` ~ renewals and Teplacements of and additions, improvements accesaiona snd acenmul~?t3on~ to ~?ny and sll of said pmperty~ i
5~.: j together with all the rents~ issues, income, proflta and avai~a thereoi. . '
~ ~ SUBJECT~ HOWEVER, to the rIght, titie and intereat o! the Lesaee under tbe Lea~e, snd (b) the lien of current
taxes and sssessments not in default, or, 3i delinquent, the validitq oi which is being eontested in good faith, and (c) the
_ right~ titte and interest of tbe Purchaser under that certain Asaignment oi Rsnta dated as oi NoVe,lr}~~~ ~,,,],,Qb4
~ } frora the Company to the Purchaser, As Aasignee, in reapect af rents and otber anme dne sad to beeowe dne in a+eapect
~ . oi the mortBaB~ P~P~rtY~ -
~ TO HAVE AND TO HOLD the martgaged pmperty unto tbe ~`rnatee and bia an~cesaors in tru~tit and assi~ns, loraver;
~ ~ IN TBUST, NEVEftTHELESS, upon the terms and trusts herein sot forth, !or theeq
u~Al and proportioAate ben~BAt~
security and prote~tion of all present and luture holdera oi the Notes ontatanding nnder tl~e NQte Agreement~ withont
` preference, prioritq or diatinctton oi any Note over anq other Note by reason oi grIorfty ia the tima of issne, sale, nego-
~ tiation date oi maturit~y thereof or.otherwise ior any cause whatecever; provided always, hovvever, that these presenta are
? upon t~e express condit~on that if tha Companq shall pay or cause to be paid all the indebtedness hereb~y aecured and ehaA
~ ~ observe, keep and perform all the terms and conditions, covenants snd agreea2enta herein and in the Note A~greement and ~
~ said Notes contained then thesa preaenta and the eetate hereby granted and eonveyed shall cease and thla Mortgage shall
become null and voi~; otherwiee to remain in full force and effec~
~ SEGTIOPI 1. COVENANTS AND VNARRANTIE9: ~
~ The Company covenants, wurrunts and sgreea as followa: '
i.i. The Company covenants snd agrees well and truly to pertorm, abide hy aud to be governed and reatricted by"
~ each and all oi the ternna, provisiona, reatrictione, covenants and agreementas set lorth in 6aid Note Agreemsent, and fn e~r.h "
~ a n d e
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by thepa
i~.iss thereto or ttteir succeasors and assi~na, to the same exteat aa thoa~h each and all o! said terana provision~,
rutrietfoni, eovarants and ~greement~ w~re tuUy? set out hsrein and s~ thonsh any ~mendme~t or sapplmtaeat ~ qid Nots
~ Agreement were fully set out in sn amendment or snpptement to tbL liortgage. . ~
- 1.Z. The Companq ia lawinliy seized nad possessed oi the aiortgaged property descrIbed in Divieion I oi the grantin~ ~
~ clause hereof ~?nd has gaod right, fnll power eund suthority to convey, tranaier s~nd mo~sge all suth mortgssed pm to .
~ the Mortgagee ior the uaes and purposes herein set iorth, and such roperty deec in ssid DI~i~3on I ia b the .
Company tree from any and all llens and encumbraacea (azsepting only ua are meationed in the gr~nting el~use herecrl~ and
a , t1~at it wiu warrant and defend tha tltle thereto sgainst ~U claims and demaads r?h~stsaeves.
l.s. The Companq wi11 do, ezecnte, ~cknowtedge and deliver all aad every fnrther ~cta, deeds, caa~ey~ces, traasfaYs
f ~ , and asanrancee necessary or proper for the better assuring convayIng,, assigning send conSrming nnto We Trostee all ot ~
_ ttie mortgaged property, or property iatended so to be, v?~ether now owned or hera~iter acqairad. Witleont ll:niting tb?e ~
i forego~q the Company covenanta and sgr~ee thst prior• to or concnrrently with the iaansace of Notes at soy ~boeqaeat ' ~
; Closing bate provided for by the Note Agreement the Compsay wiil e~cecate, sclano~ded~e and delher sappleme~nt to
i this Mo age satiefactory in form and content to the Trnstee speciflcally describing the eqwp~aent ~vhieh is being
K Snanced~rongh the isaaance oi such Not~s u p~urt oi the mortgsgedgproperty snd sh~ll record toch~pp
Iernaat or lil~
~ ; the ea~me for rECOtd In a11 publtc oSicsa whereJn auch recording or fllin is necesasry to pezPect ths lir.n ai this ldort~xge as
~ i therebq snpplemented ss agsinet craclitors o! ansl purcbasers from the Comp~ny.
~ ' 1.4. The Company will promptly pay the indebtednese ~ereby aecnred ss snd wben the same os any pr?tt thersoi ba
~ comea dna (~vbether by lapsa of time, d~laration, demand or otherwiie).
ra~w aos s•s•? , . ~ Pa~e 1 ,
~ _ K~~~ ~ i~5 ~~~E.~ 37~