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<br />14.STATUTORY NOTICE
<br />UNDER OREGON LAW, MOST AGREEMENTS, PROMISES, AND COMMITMENTS MADE BY
<br />LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR
<br />PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY BORROWER'S
<br />RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY LENDER TO
<br />BE ENFORCEABLE.
<br />BORROWER
<br />:
<br />BEAM CONSTRUCTION & MANAGEMENT, LLC
<br />, an
<br />Oregon limited liability company
<br />
<br />
<br />By:_______________________________
<br />Name:
<br />Title:
<br />
<br />DEED OF TRUST, SECURITY AGREEMENT, ASSIGNMENT OF LEASES AND RENTS, AND
<br />FIXTURE FILING
<br />
<br />This DEED OF TRUST, SECURITY AGREEMENT, ASSIGNMENT OF LEASES AND RENTS, AND
<br />nd
<br />THE URBAN
<br />FIXTURE FILING (this "Deed of Trust"), made as of this 22 day of May, 2008, between
<br />RENEWAL AGENCY OF THE CITY OF EUGENE,
<br />a municipal corporation of the State of Oregon(hereinafter
<br />CASCADE TITLE
<br />referred to as "Beneficiary"), whose address is 777 Pearl Street, Eugene, Oregon 97401,
<br />COMPANY
<br />, whose address is 811 Willamette Street, Eugene, Oregon 97401 (hereinafter referred to as "Trustee"),
<br />[HISTORIC FAIRMOUNT, LLC]
<br />and , an Oregon limited liability company (hereinafter referred to as "Grantor"),
<br />whose address is 1001 SE Water Avenue, #120, Portland, Oregon 97214.
<br />
<br />W I T N E S S E T H:
<br />WHEREAS
<br />, Beneficiary has this date made a loan to Grantor (the "Loan"), which Loan is evidenced by a
<br />Promissory Note in the principal sum of $470,000 (the "Note"), executed this date by Grantor and delivered to
<br />Beneficiary, the terms of the Note providing that the Note shall be paid in full on or before July 7, 2008. Reference
<br />to said Note is hereby made to the same extent as if it is set forth in full herein. Wherever the term "Loan
<br />Documents" is used herein, it shall mean the Note, this Deed of Trust, and all other documents executed by Grantor
<br />or any guarantor in connection with the Loan.
<br />NOW, THEREFORE
<br />, to secure the payment, performance and observance by Grantor of all of the covenants and
<br />conditions in the Note and any extensions or renewals thereof, as it may be modified, amended or supplemented at
<br />any time and from time to time, and in this Deed of Trust and the Loan Documents, and in order to charge the
<br />properties, interests and rights hereinafter described with such payment, performance and observance, Grantor does
<br />hereby execute and deliver this Deed of Trust, and hereby grants, bargains, sells, conveys in trust with power of sale,
<br />assigns, transfers, hypothecates, pledges, sets over, and grants a security interest unto Trustee for the benefit of
<br />Beneficiary, its successors and assigns forever, all of the estate, title and interest of Grantor in and to the following:
<br />1. The land described in Exhibit A attached hereto;
<br />2. All buildings, structures, improvements, privileges and appurtenances belonging thereto now existing or
<br />hereafter constructed thereon;
<br />3. All easements, rights of way, streets, ways, alleys, sewer lines, water lines, water rights, and all estates,
<br />rights, titles, interests, privileges, hereditaments, access rights and appurtenances whatsoever in any way relating to
<br />or appertaining to any of the property described in Exhibit A, or which hereafter shall in any way belong, relate or
<br />be appurtenant thereto, whether now owned or hereafter acquired by Grantor, and the reversion or reversions,
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