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VA199400011 Application 1994-09-12
County of Albemarle Department of Zoning 401 McIntire Road Charlottesville, Virginia 22902-4596 (804) 296-5875 FAX (804) 972-4060 VA- - DATE: R -q� FEE: $95.00 d- 4-1ao3 STAFF: 51-ata VARIANCE APPLICATION OWNER (as currently listed in Real Estate) R to Assoc LTD P(Rsi-►p . Name: % Du DAP-rot' 4P Ro pea-Tie 5 IN c> Phone ( SOLI ) 2Lo4 - 4?&9 P, o Box g4(02 Address: ( c i4mo 1-►O '/A - 2 3 2Z A1fN : MAUL_ D. SONES APPLICANT (if different from above) / voo Name: C�I RG 11 l Y ((T'( SrO(LE' I►.) Phone (004 ) 5 2:7 - - '&I 684o Address: CQ50 MAY LP 7 DRIVE I�1GNMONf� VA 23Z33 fY1fL D K IIZA�P,0 CONTACT PERSON (if different from above) Name: oR MAR)h)o Phone ( '703 ) 354' - 30007 Glv ‘-)a,eV IGE N E0IJ 5160,15 I Nc. Day Phone ( ) -sAme - - Address: (o69 I I 112oNJ RAC-E. 50211.)6-1=1 a VA. �2151 LOCATION: I( 45 5 0111J01$ 7 L (ar 29) A I born a r le- 5c vase 5.. G G I ncu ,T-( Super1-s1opa # I Cva4- PLEASE PROVIDE A DESCRIPTION AND JUSTIFICATION OF YOUR REQUEST ON THE BACK OF THIS SHEET. Vp- %-Ir1, uP-'l'-ao,va-77-a9, u4-%-17, Uf}-76 -Iq,Uf1'(,-36, zrP'a-a i3, uA-9']-aq, v 1 ,UA-9a-7, 5 P-9 3-3 0 OFFICE USE ONLY TAX MAP 061 , PARCEL /23 ; TM , P ; TM , P 1) VA-94-11. Rio Associates Ltd. Ptrshp(owner) , Circuit City Stores Inc. (applicant) . Located at intersection of Rt 29N/Rio Road in Albemarle Square Shopping Center. TM61/P123 , zoned Planned Development-Shopping Center with EC overlay. Variance to increase height of wall signs from 20 to 30 ft\qlr\ ( ) Special Permit (.1/Variance ( ) Proffers BZA ACTION: A pf r'o' ed "o) 14frc d 1 +j 071 DATE: / / DESCRIPTION OF REQUEST:J� Y/oni I. /5 . /2 /24X, <o - y�lS /,v/vm/4/E& it Zv j o WE A/25 / oes r//.)c/- v/4 2/A/V"C6 T/-/A'l /,v1,-�-� � u� 1NAl.1._ Si��cls To 0700A-t&D 30 ' /160vc:. f OE /41 s7'o4 2 of 20 ' _ 5/9 o .5/ZE5 OF Tc00 O/v / Air w/z-e- /3E- /So ..4va2.E /BEET cv;c_t_ Cpnlsl5 7 OF coH/r& FACE-/D C.}-/.4,/A/6L LTILS 82usHL� Atc/,r)-1/A,Ljn-M '.reS- JUSTIFICATION SHALL BE BASED ON THESE THREE (3) CRITERIA: 1) That the strict application of this ordinance would produce undue hardship. The prz/m,427, Fiinrcrio/J OF Bug...Dmiq- -locum Des, s Foa. 5/y./ D/SpcAy 7E /06-Arr/FN CN'rl "-1c s . 1 T WO-'to L3E /mpo&Si$LL' To /N&T L..C. Ay 2o ' ,/cicjfrr DoiE r-o flH ysic.4c. L//)1/>A 777../s ,F G(/AL.,c_ f o/OTN 2) That such hardship is not shared generally by other properties in the same zoning district and the same vicinity. /114a i Q aueC /s e_ 70 o 57/rLeo /v pp//u cr C J 41 t The. `S/y„ 0421.4667,2 'T- uh4 s c./ .6,v 45 /7/4/1-T D/c- Ayv 0 v 72aLL '44S-PHET/c. P,2GS�GQ74>/o� 3) That the authorization of such variance will not be of substantial detriment to adjacent property and that the character of the district will not be changed by the granting of the variance. by ALLocv/,vy THIS 1:3 ,Lo/AJS "ro 56- Cc cr2LcreD /4s SHOO"Al <T 60/2-L Es,. crsi4 /TS owtil I s'c&i cJ- 4f2Acr&R/sT/cs 5/m/L- 2_ To THos& O•v 0 7%4/C1Z F/21 i S AAIPi"Jc; B/Jw//•rs /N S,.6. svcd-/ .4s OJr64c e stexw,yousC. A- D55/S/.l 4' tea'H&c/4r 0,v 5/4,v5 wiz"- HAvE NO Deri2/ 5'74t_ Af iCc? Qv O7/ -ra STp,2,,s 4 /Ai F4cT tai�c_ Nap soppo27 o1/1E1L /n /66NYS By GQe4T// rit.4,25 S4fry,pc-721 - F,RT/1jz/a ,¢ GuftLL S'yruS AT F6451-1 Iola SCp vie MA,.c. 4 Rio H/u. 5- C. /,0 /bG-�/2/'//i rr6 ? 70 do /AiSTvu 50 /4r 3o' H64N7- - The application may be deferred by the staff or the Board of Zoning Appeals, if sufficient information necessary to this review has not be submitted by the deadline. I hereby certify that the information provided on this application and accompanying information is accurate, true and correct to the best of my knowledge and belief. if,40 9//2/9 '7a03 9- ia- g 9y Signature Date Receipt # Date VARIANCE The current application form shall be completed by the applicant in its entirety (the request should be clear) . THE FOLLOWING INFORMATION SHALL ACCOMPANY AN APPLICATION TO THE BOARD OF ZONING APPEALS AND IS TO BE PROVIDED BY THE APPLICANT. ( %••Y Application and justification statement. ( /) Application signed by owner or authorized agent. ( ) Most recently approved recorded plat. If none exists, then a copy of the deed description for the property or properties involved in the request. ( ) The appropriate drawings showing all existing and proposed improvements on the property, with dimensions and distances to property lines, and any special conditions of the property that may justify the request. (✓) The owners contact person and mailing address and daytime phone numbers. (/) The proper fee payable to the County of Albemarle. 9{ THE ZONING DEPARTMENT WILL PROVIDE THE FOLLOWING INFORMATION TO THE APPLICANT AT THE TIME OF APPLICATION. ( ) Board of Zoning Appeals notice letter. '6,1(>/O ne public notice sign for each road frontage. ( ) Instructions for posting signs. • ( ) Applicant receives Board of Zoning Appeals action letter following the hearing. (Person acceptiong application) Date ALBEMARLE COUNTY 45WWI TrF 73Jo _sE, === Y ° . I 61-%I6X2 / .2,, '71Miler N.Wd."2: : • / 9 �'.-FOUR �/ / .21fJ t, . ��_ j .=SEAS ON I� \ /40tr 41 ✓„� \41/44 „.< -7--------Tg---- -----7-----7 /7/'4,,,/ ,,—,, 7. 411!..4 nil ..., 40/ ---;t:::- -------E /pH / •,...„4:::.,:,, . ..::„: I //,, 111,6_ , Nile ., VA-94-11, Circuit City Stores, Inca!!! '� 12 I '21 �- xcrrn ¢A fa — Tax Map 61, Parcel 123 ` , � �°\���� �1 [f•8�®© - f rn.R-o.�°iI z// ���/ /�, `/ ////�/%/lam/ ._ � .....,.., �, ����` �,.. 0� , * 4 •,Q c�`�'\`�`� \\� �\��- BRANCHlAN05 �'i // Al ... liAll l� _ '/A----O rH 6 `7 / te�9 ,` \` �., \, :N /,Py �� ISI It,4�� •� \ P���rt3 UwE �P 1 � 4�/�5`` ` _ v ,``�\ - COPY lIM - l I . K' 7e-' J TX1N 91 V • \ 1 1646 Pkz • P,) --4 e� a r-- �� � icno"so. WAS''� CITY 4. /`- 4-- • 4I/AM- we CHARLOTTESVILLE PI. / ' . 69 O/ / - / 170 4414414 / 189 ueno" aM ny �`I - __ _ q _ - '1W -H,,./..ro, pQ �P Alt ii!,..•% IILN illei i!!!!Ilr _ / -:- A . h') _ \.. �ti Y �1 All\ .I /- \�`` a SCC+IO" -- ' V e ~, 210 Oi:p MI pa I. ri -411 pl.;,740. VIOOORAY9121 MR • 14° -- \r/ ____ ry ,.. , _ , ,.,_ . ,.../ � % _�. • _,.. __ ,/ KILL '" ... M •.m •i . •M JACK JOUETT, RIVANNA AND SECTION 6I CHARLOTTESVILLE DISTRICTS BLR# FReNT 19 -O "51G,N 1 I 4 , 0 I 3. 1 ALUC (N1C) COLOR TO MATCH EP-4, RED 1 l _ I 1 I19'-4' f EQUAL r,. . - CIRC1i/IT ► I I NEWj /R UI_T I } UGHT TAN. EP-7, OF EXISTING TJ Tot' of 5>rs�J ' ' ! I 711 I CANOPY OF ADJ. BUILDING. Vir I _ 3'-0 i t ! I I — I 4'—j VI MATCH ALUC. BAND 11s'p.. ' i (NIC COL DR TO r Bp-4, TYP, 1 j I I tocr , , A3.1 1 .I 1 PLANE O 1'-2 Cif) S6, Fr 1P 0 . M . LVT1--: -CS r ( AIPLIAN ES PLAN; Cli 1.-1 _ - -- — — j �� EO +B" 7. - — --- 1 E�S11NG BRICUM TANK. PAT T. — _ _ I/ATCH tiEDI .IN AA' G ' OF EXISTING BRICK AT •J. -- - — - '-: ._ ===- =- _t ==----—=——==i-= = = - — BUILDING. SEE SHEET .4. — _ — — -- ---sue. .—.—''—�— ._. ------ v -----....— .4..1111m...1......m...•=mm 67...? ..„ NORTH ELEVATION t...:i.D i / .../ 11 SCALE: 1/8- = 1'-0- FROSIT aGegoet lao'. p' 9. 9 -V .. ^_- ._. ! v -_-.- -- . rszj�� '"' gip-- a i�����. 'I .Gr,4 -_,D ,;:2) 6,-..:_,) NORTH ELEVATION /ham �5 -1 SCALE. 1/8" = 1'-0" F1 o 4T 1 1 a0'- O' T T 1 SATEWTE DISH MAST 1 .-ALUC (NIC) COLOR i ANTENNA BRACKETS ID 20-O ._... ._... TO MACH EP-4, R 3 I ' I ' i 4'-6" WIDE ALUC. BAND (NIC) MN MN 1 COLOR TO MATCH EP-4. RED,TYP. 1 ALUM COPING 4 i SEE SPECS ' 68'-° 1 19.-0. - I--- SIGH CENTER I O I a-- OrER OOR. I ' sca arv@olly 7- Q `I , $� CANOPY EXISTING CMU TO BE I of �D� ) - _ --� ' POWER WASHED & RECEIVE LLLJJI p NEw RECESSED WALL OF SEALER FINISH COATINGS. 11,,0• IC) -L~- SMOOTH FACE8� CJJU. NEW COLOR TO MATCH MED TAN. I } �' ! T II -- -- Cull TO RECEIVE BLOXFIL EP-8, OF BRICK OF ADJACENT ' I C - & FINISH COATINGS. COLOR - SEE FOR FURTHER INFO 0 { TO WATCH MED TAN, EP-8, SEE A24. �IC 1_ d of ECSNTNG BRICK OF - T ADJACENT BUILOINS. C POMER;WASHEDt W/ SEALER AND COLOR TO AUTO.JAT,C AMG DOOR- AN, EF' CLEAR IOZI OF AN . ALUM. FINSH WEST ELEVATION < OF ADJACENT JRN BRICK TO :SS' SCALE: 1/8" = V-0" glpE dil Dumbarton Propert!es Incorporated 7113 Staples Mill Road • P.O. Box 9462 • Richmond, Virginia 23228 • (804) 266-4969 Telecopier (804)266-4977 ■ ti E V ;' ED SEP 16 1994 September 15, 1994 ALBEMARLL COUNTY ZONING DEPARTMENT Ms. Amelia G. McCulley Zoning Administrator County of Albemarle FAX: (804) 972-4035 Zoning Department 401 McIntire Road Charlottesville, VA 22902-4596 Re: Albemarle Square Shopping Center Circuit City Dear Amelia: By copy of this letter, please be advised that George B. Marino, Jr., of Service Neon Signs, Inc., has permission from Rio Associates Limited Partnership, to apply for a variance on the Circuit City signage at Albemarle Square. We hope this letter will suit that purpose, however, if more information is needed from this office, please let us know. Sincerely, Bt.)ii(Y) Beverly M. Webb, Vice President DUMBARTON PROPERTIES, INC. BMW/sdw SHOPPING CENTERS / COMMERCIAL & INDUSTRIAL PROPERTY Leasing • Management • Marketing • Consulting • Sales Member of REAL ESTATE BROKERS /( 4 InternationalCenters Council pping REALTOR® of Sho SERVICNE Telephone (703) 354-3000 NEONFacsimile (703) 354-5810 SIGNS INS6611 IRON PLACE, SPRINGFIELD, VA 22151 September 12, 1994 County of Albemarle Zoning Department 401 McIntire Road Charlottesville, VA 22902-4906 ATTN: Mr. John Grady 804-296-5875, ext 3226 fax 972-4060 RE: Sign Variance Circuit City Superstore #1604 1645 Seminole Trail Charlottesville, VA Dear Mr. Grady, In accordance with our conversation, I am submitting my application for a variance request that asks for a relief to allow our signs on front of building to be place at 30' above grade rather than 20'. You will also find our permit application for three building signs with one set of our drawing #8-94-167, revised 9-9-94, and separate partial drawing attachments. The filing fees are submitted with both application on check #28569 ($95.00) for variance and check #28570 ($75.00) for sign permits. I was told by Marcia Joseph that we would not have to apply for ARB hearing and was told by building department that we should not apply for electrical permit until after sign has been approved. Our request calls for two (2) identification signs on front of building totaling 180 square feet and one on side wall at 90 SQFT. Request is necessary because the signs are designed as part of building plan and will not fit on tower at the lower 20' height. We typically place these signs at 32'-0" above grade but can lower them to 30' without jeopardizing the design intent. Quality Electrical Displays Since 1932 The meeting date for this request will be held on October 11 , 1994 and it is my understanding that we will be notified by your office. I will bring photos and colored drawings with me to the meeting unless you need them in advance. If you have any questions, please don't hesitate to call me or in my absence, ask for Betsy Marino. Sincerely, �'. George B. Marino, Jr. GBM/bhm Enclosures cc: Mr. Derek Tizard, Circuit City Mr. Ron Davia, Circuit City Mr. Mike Tussey, Circuit City Mr. Paul Jones, Dumbarton Properties `✓. a` R s I ' .r APPENDIX D 3'. .- Recorded Deeds - t. } t-- . . • yll � ti�� ecax s s a PAc:o D o i ,�, • THIS DEED, made this /(/7, day of T�,", 1976, by and between. RIO ASSOCIATES LIMITED PARTNEFSHZP, a Virginia Limited Partnership, hereinafter called the first party, whether one or more oersons or • other entities and WARREN W. WILKINS and WIILLIAM t. SHAVDS, JR. , Trustees, t.• both of the County of Chesterfield, Virginia, hereinafter sometimes called "second party" or "trustees"; and VIRGINIA NATIONAL BANK, TRUSTEE, hereinafter called Bank; .. !JIT`IF.SSETFi: 4.cii .. That the first party and Bank do grant and convey, with �{� • General Warranty and Special Warranty, respectively, unto the said d' Trustees, the following property, situated in the "-aunty of Albemarle, '' State of Virginia, to-wit: . .tj•L li ,•. . AI.L that certain tract of land containing 22.87? acmes located at the northeastern corner of U. S. Touts 29 and State ?outs 631, Charlottesville District, Al er.,,rle County, Virginia, 1p (LP '''''. together with all easements, rii'hts of way and appurtenances 4�,'1. thercunto belonging or in anywise .;;,pertaining, including U casements for utilities, drainage .end sanitary sever lines, 144' more particularly described on Erhil.it I , attached hereto and ' I f made a pert hereof and as shown on plat of survey by B. Aubrey t .:\ Huffman E Associates, Civil Engineering, Land Surveying and Lend slit Planning, dated Parch 9, 1976, a copy of which is attached hereto, made a part hereof and to be recorded herewith. . 1 . „E I TO HAVE An TO BOLD said land and premises, together with all bcildings and iiprovecents thereon, with all rights, privileges, eecerents and cp,urteeences thcreunto belonging, or appertaining; also all electric wiring, heating, plumbing • i and heating fixtures, end appliances for heating (including rant es), 1tg.ting, and re:rig,e-atlon, ec-eens, awnings, shades, cnrjrettoS, di hvshers, d1 posels, clothes ._.hers, clothes d,- ere, swimming pool equipment, air conditioning equip=.t, or other equipment now or hereafter installed in or on said premises by the first yartir * or o leer, and used or for use therein or thereon, shall be held to to real fixtures end part of the property hereby conveyed whether attached to the free-hold or not, end subject to the lien of this instrucent; provided, however, that trade fixtures and other psraonll fixtures of ray tenant no.' or hereafter ioatalled are not it tended to be included in this provision except to the extent of first party'ojirtereut therein and shall not be in egyvice affected hereby or subject to the lien hereof, °R' to the said second party in fee st pie end forever. In Trust, to secure to The Central National Rank of Richnond,c-nd its successors and assigns, the psyr_nt of the principal sum of gnu?MTI.I.(ON mil__ __ • HUNDRED TWE1 -FIVE THOUSAND A`Jn Nn/inn 5 u .17C.non TraLvs, • lent to the first party, and interest evidenced by a certain principal no to for • even araunt executed by Rio Asceriat,.e Limited P•ertn,,rehip. a VirainiA . . Limited Partnership . ___ . . _-._ :__ * and/or Bank - ea and/or Bank's - • - 1 - : 1 • • i B20X 598 faOE0002 1 • bearing interest at the rate of 9E 3/4 per cent per annum, payable monthly • , , said note being dated the date of this deed and being payable to , the order of The Central National Bank of Richmond , at 11 714 Faa' Sr_ead ctree.t. Richmond, firetnia 23219 , in installronta as I , follows: ` f SEE EXHIBIT III, ATTACHED HERETO AND MADE A PART HEREOF i I 1 • I The said note provides for interest in the event of default as more particularly set forth in said note, and for the payment, to the extent permitted by law, of ten - per cent of the amount of the principal and Interest due thereon, when collected, if after maturity it be placed in the hands of an attorney for collection, and contains a waiver of demand, presentment, protect and notice of dishonor, as well as a pro- vision consenting to extension without notice after maturity, and the principal note is identified by the signature of one of the trustees on the back thereof. AND TO SECURE every renewal and extension of the note, if such renewals or extensions shall be allowed, and all interest that shall accrue on any renewal or extension, and all interest that shall accrue on the note after maturity thereof, and also to secure the fulfillment and performance of the terms, covenants and agree- 'tents herein and in the note and In any other instrument securing said note set forth, and the payment of any sums which may be lawfully expended by the holder of said note or the trustees hereunder. • • And in consideration of the premises, the first party covenants and agrees: • I. So long as any part of the debt hereby secured remains unpaid; (A) to li pay to noteholder, to the extent requested by noteholder, on dates upon which interest ` `ir ! is payable such amounts as noteholder from time to time estimates as necessary to • create and maintain a reserve fund from which to pay, before the same become due, all taxes, assessments, liens and insurance premiums and charges on or against the property hereby-mortgaged and as additional security for the debt secured by this deed of trust. There shall be no interest paid or credited on account of such deposits. Payments from said reserve fund for said purposes nay be made by the noteholder at its discretion even though subsequent owners of the property described herein may (I benefit thereby. In the event of any default under the terms of this deed of trust, any part or all of said reserve fund may be applied to any part of the indebtedness . any hereby secured and in refunding any part of said reserve fund the noteholder may deal :� with whomsoever is represented to be the owner of said property at that time. The right to any return premiums on any insurance policies covered by this mortgage is hereby assigned to noteholder, and in the event of a default, noteholder shall be entitled to all such return premiums to reply on the indebtedness if the noteholder elects to exercise its right hereunder; (B) to promptly pay when due all taxes, iassessments, and public charges, upon the maid property, and immediately thereafter exhibit official receipts for such payments, to the noteholder; (C) to keep the buildings and other improvements constantly insured against loss by fire with ex- tended coverage in •fx xx see * below so as to avoid any claim on the i part of the insurers for co-insurance, a:rd in addition to keep in full force and effect - 1 policies of insurance insuring against such other hazards, casualties, and con- y• *r a tingencies as noteholder may require; such policies to be on such forms, for such ( ' periods, and in such amounts as noteholder may require with loss payable to the note- t holder under New York Standard Mortgagee Clause, and to deliver the policy, or policies, to the holder of said note, as additional security, and where renewal policies are 4 necessary in the performance of this covenant to deliver them at least ten days before the expiration of the existing insurance; any and all insurance in the possession of noteholder may be changed to other companies, rearranged as to coverage, terms or amount, and within the limits prescribed by this deed of trust, be increased or de- creased by the noteholder, and for that purpose the said noteholder'is authorized td surrender existing policies for cancellation and take out any insurance at any time desired, provided that the necessary premium adjustments. in all cases shall be charged against or credited to the debt secured hereby, as the ease may be; in the event of failure or refusal of any party/htoere agretoe with the insurance companies involved • T+ * amounts from time to time specified by noteholder I • • -2- ,. _ ._t and ...:..a o y5l w �h�ln sixty (CD) d arc of the happ_nlag of • are.. tr.:, tl_n the said notcholder aeactiate .tn and rattle said loss with cuch ...:..ranee cu:-;•nles and neither the a:.id not:hole r ror theinsurance e,. ,. _, cad:.niec in- valved shall, upon suchsettier.:nt being Lac, be li•ale in any :._rnt•r to any party hereto the said noteholeer shall nave the rich,t to r;;,ly any rums received :roc in- ,.-,sense policies required by noteholder to the pre;.r, at of the it eLtedne - or other items hereby secured, or at their option may allo- t - sane to be uced in restoring the property conveyed, provided, however, the said aeteholcer ray retain said funds without interest until cnid premises be restored in a cntisfactorj canner; (D) to not nn e.or permit any change in the uce of said p:enic^s ai,ich will create a fire or other harard, nor shall the risk caused by an existing or Sut.rro hazard *aL) to xcep the property, and all equip-ant, appurtenances and accessories, con:tnntly in good order and repair; (F) to corply -ith all laws, ordinances, and real:tions now or hereafter affecting the herein described pro;.erty or any part thereof and not to perlit, coffer or carrit any waste, impair:eat or d•terioration of csid property, or c-y part t aroof; (C) to allow any authorised representative of roteholdcr access to the pr rlsce, or any part thereof, for the pup,rr,e of ascertain:1.a whether the covenants of this deed of trust arc being fulfilled; (R) to not allow any lien prior to this deed of trust lien attach to the hereinabove described property, and to do such other tninge as noteholder shall deem necessary to protect its intr.n..st hereunder, and (I) to execute, and cause to be executed, such further assurances of title to the said property, and to take, and cause to be taken, such steps, including legal ;.roccedings, as may at any t = appear to the trustees, or to the holder of said note, to be r'.esirable to perfect the title to the came in the trustees; and upon a failure or breach of performance of any of these covenants and agreements, in any particular, the trustees, or the holder of said note, ray without notice toany party heretpay said taxes, assessments, and public charges, and take such steps as may be necessary to secure or redeem the said property from forfeiture or sale, and/or effect or rune' said insurance, and/or make such re- pairs as ray be necessary to keep the property, equipment, appurtenances and accessories in good order and repair, and/or take, or cause to be taken, such steps, including legal proceedings, as may be desirable to prevent the ccr,:ssion of waste, Lcpairent or deterioration of said property, or any ;art the:eaf, or to perfect the title to the said property in the trustees, and/or to perform such other acts or expend such other sums as noteholder shall deem necessary to protect its 11,tc r:ct hereunder, and all sums expended in the doing of, or on account of the sere, shall be a part of the debt secured by this deed of trust, and shall be secures as fully as the principal debt and interest is secured, and shall bear into rust at the rate of lea. I/i.per cent per annum from the date of the expenditure thereof, and shall, togetherl'with the interest thereon, be repaid by the first party before the expiration of a period of thirty (30) days thereafter. But there is no obligation upon the trustees, or the holder of said note, to make such payments or take such steps, nor shall any act of the trusteea,or the holder of said note, or any failure to act under the po a rs invested in the= by this paragraph, nor any lapse of tine, be construed ac the waiver of any breach of the covenants and agreereente contained herein. In alditlon, notcholder is authorized to file at the expense of first party such rens.als of financing state ants as notcholder shall deem necessary. * be increased K7 II. That all moneys and awards payable as dar_e;;cs end/or compensation for the tak- ing of title to or possession of, or for damage to, or on account of change of grade affecting, any portion of the property sut-;ect to this teed of Trust by reason of any condermation, eminent dorain, change of axe de, or other proceeding shall be paid to the noteholdcr and such moneys and awards are hereby assigned to such notcholder, and judaeent therefor shall be entered In favor or such notcholder, and when paid may, at the option of the noteholder, (1) be applied, In /hole or in part by note- holder upon any indebtedness or obligation secured hereby, whether the same be matured or uncatured, and in such order as noteholder ray determine; (2) be used in whole or in part to replace or restore the property to a condition satisfactory to notcholder; (3) be used in whole or in part to fulfill any of the covenants contained herein,•�a the noteholder nay require; or (se) be released to the party of the first part/nits the parties hereto hereby covenant and agree , upon request by the notcholder, to rake, execute and deliver any and all cacignm_ents and other irstru_n:s sufficient for the purpose of assigning the aforesaid moneys and awards to the noteholder free, clear and discharged of any and all encumbrances of any kind or nature whatsoever. ** or to bank if noteholder has received notice of a termination of party of the first part's leasehold interest described in the Addendum attached hereto and made a part hereof, • • -3- 1 1 • { i 1 "v" Oyu racEU004 • • and lank :II. first arty/doe ' by a^sign and rot e:cr unto the notoholder all :eats f. ac property hereby co:,.u}.JT:rea^ter I.cczutn;, as alditinal security for the :.bte hose and other Steme herein atcurd, and for the purpose of keening caid pro;erty -•. ;•reeer repaix,�ni the noteholderis given a prior and continuing lien thereon. The fir.:t party/dines op Lint the noteholder his attorney to collect caid rants without suit and apply the sale, lose e-.enoes of collection, to the amid indtbtednecs, other secured itens and repairs, in such manner as the noteholder ::ay elect; provided, however. that until there be a default under the terms of this deed, the first party/Ay con'.nm' to collect and enjoy caid rents without accountability cyccntfar furnishing the rental incomestate- j cents to the noteholder,as requid herein. The curie• of anydefault, however, shall not I entitle the first party/ re to again collect Bald rents unless consented to in writing by the noteholder. This assignment of rents and power of attorney shell be irrevocable and :hell 1 in addition to the other remedies herein provided for in event of default and r..:y be put into effect independently of or concurrently with any of said remedies, but no liabllity shall attach to the noteholder for failure or inability •s collect any rents herein noel ne This assignment, lien, and power of attorney shall apply to all rents hereafter accruing from present leases and rentals of the said property and from all leases and rentals hereafter made by the present or any future o..ners of the property, and any purchaser of the property hereby c swayed shall take subject to all provisions and conditions thereof. In case the whole or any part of said property shall become vnrrnt, l.ba said noteholder is authorized to let the sae in the none of the first party/,"either oy arm or through an cent appointed by him for the purpose, and authority is hereby given to pay such e.^ent for his services 5't of the rents collected. First party shall furnish to note- holder a certified annual accounting of all rental income, such accounting to be fur- nished within ninety days after the end of first party's fiscal year. IV. That in the event of the passage of any State, Federal or nenicipol or other law or regulation subsequent to the date hereof, in any manner changing or modifying the laws now in force governing the taxation of deeds of trust or debts secured by deeds of trust or the manner of collecting ouch taxation, the entire balance of the • principal sum secured by thia deed of trust ant all interest accrued thereon shall without notice become due and payable forthwith at the option of the notoholder. V. The note herein secured or any part of the principal or interest thereof, may be renewed or extended from tirm to tic_ by the holder thereof at the request of the then owners of the property hereby conveyed, or at the request of any party bound thereon, without the consent of or notice to other parties bound thereon, or who have assumed or say hereafter assume payment thereof, and without releasing, discharging or modifying their liability then existing. VI. Not to set up or claim the benefit or curtesy or dower laws or any homestead exemption or other exemption or insolvency lave against any claim of the trustees or the holder of the aforesaid note, for any sum of money which may become due and payable to thee,or either of them, under the covenants and agreements of the note or of this deed of trust or any other instrument securing same or against the securing or execution of and judgment caught thereon, all of said rights or exemptions being hereby expressly waived. VII. It is understood and agreed that both trustees or either of same may act; • provided, however, that if both trustees fail, refuse, or become unable to act, or should the noteholder deem it advisable, for any reason in its absoluse discretion, to have a substitute trustee or substitute trustees appointed, then-said noteholder is 1•ereby authorized and empowered to appoint, by an instrument recorded wherever this • deed of trust is recorded, another, or two other trustees, in the place and stead of either or both of those herein named, which trustee or trustees shall have all the rights, powers cad authority, and be charged with all the duties that are conferred or charged upon the trustees herein named. VIII. The trustees and the holder of said note shall have authority, in their dis- cretion, to employ agents and attorneys in the execution of this trust, and to protect the interests of said noteholder hereunder, and to the extent permitted by law, the same shell be co nsated and all expenses in and about the a to compensated, xl' rep ymeat, including those of „ litigation, shall be paid out of the proceeds of sale of the said property should a • * or Bank if noteholder has received notice of a termination of the party of the first part's leasehold interest described in the Addendum attached hereto and made a part hereof, ** . however, expressly excluding the Lease and Lease Assignment set forth in the Addendum attached hereto and made a part hereof, ' I -4- • • • 1 ��,,n�� nc sale be h:d, and if no tole be hnd,s. ' �,cy p%id out shall be recoverable to the extent remitted by law by all remedies at law or in equity, by which the debt hereby secured m:y be recovered. aC. Without the prior written consent of noteholder, no additional buildifl c may_be constructed hereafter on the herein described property. Further,there shall be no material alteration of any ofthebuildings, improvements, or present uses of the land and premises herein conveyed without the prior written consent of the notcholder. X. The failure ofthe lessor therein to comply with any or all of the terms and provisions of any lease or leases a.ci reed to noteholder ub security for the note secured hereby shall constitute a default h rcu_etcr. See item 1 of Exhibit II, XI. The waiver by noteholder of h c reef in any other instrument securing said note shall not lconstitute�atwaiverhis eof d atruubncqu nt default or defaults. any gt:ent • XII. That in the event of (a) a default in the payment in full at maturity of any installment of the principal or interest of the note secured hereby, or (b) the failure to unqualifiedly observe or perform or prevent the violation of any of the terns, conditions, covenants and agreements in this deed of trust or in the note or in any other instrument securing said note; or (c)ar.v party heretc(or either of them) being adjudicated bankrupt or insolvent, or co:-aittino any act of insolvency, or (d) a default in any lease assigned to noteholdc r as additional security :or the indebtedness secured hereby, or (e)any part" here reentering into any arrangement or composition agreerents with creditors, or suffcrinz or permitting the seizure or levying under any legal process or claim of le,-,al richt affecting the mortgaged property, or (f) the passage of laws or the decision of any court rendering or de- claring any of the covenants and agreements set out in the note or in this deed of trust to be legally inoperative, void or voidable, then a default shall exist here- under and under the note and under every other instrunant securing said note, and each and every installment of the note and all other su.0 secured hereby shall at the option of the holder of said note at once bccorc due and payable, anything herein contained to the contrary notwithstanding and without any notice or demand,for tine is of the very essence of this contract; and the trustees, or citncr of than, arc expressly em- powered and directed, upon the said note co becoming due, or upon maturity and _default in the payment of the whole debt, and upon the written request of the holder of said note to cell (without notice, except as hereinafter provided), the real estate hereby conveyed, or co much thereof as may be rcccscary to satisfy all of the indebtedness hereby secured and then due and payable (by normal, rnatt.rity or acceleration), plus the expense of executing this trust. The sale to be by public auction, for cash, (and in their discretion the trustees may require a deposit in legal currency of ten per cent of the amount bid before knocking the property out to any bidder), upon the premises, • or at a place to be selected by the trustees, after at least five days advertisement of the time, place and terms of sale in come newspaper published in the Ciro of rhlrtnrrnc..tttn Virginia or in the event that no newspaper is published therein, then in core newspaper of general circulation therein, fell power and authorit•• being hereby expressly granted and conferred upon the trustees, or the one acting, to make, execute and deliver all accessary deeds of conveyance for the purpose of vesting in the purchaser or purchasers complete and entire legal and equitable title to the land co cold, the recitals wherein shall be received in all courts of law and equity as conclusive evidence of the truth of the matters therein atated; and at such sale the holder of the note secured hereby may become a purchaser or purchasers of the property so cold, and no purchaser shall be required to ace to the proper application of the purchase money, and the proceeds of such sale shall be applied first to the i.ryrsnt of the costs and expenses of executing this trust, including atrustee's commission of five per cent on the gross proceeds of sale; next, to the payment of all taxes due and unpaid at the time of s,:ch sale, and also a ratable proportion of the taxes then assessed or assessable for tee calendar year in which such Bale is had; then to the payment of all sums paid out or expended by the trustees or to the holders of acid note under the covenants and agreements contained in this deed of trust or in any other instrument securing the note; then to the payment of the accrued interest and the principal debt in whatever order noteholder may elect; and in case there by any residue of said proceeds, the same shall be paid to whomever is represented to be the owner of the herein described property at time of foreclosure. -5- 8 t. ......... _ . _ ., . , 0,.: it . ,,,, •cal• th• BOOX 5 9 8 MCE9 ( fl : nt the ti.-r_ of _, tees d�_e• 1 t for any renaon to pact- • per: or c•-Minus the sale from ti-: to•tine, they r:,:sr do so, in which event much Furth:r notice of r•cle(c_-4 no roru) 0i,1l be given ac the trustees ray c_e fit to give; no failure or failure: of tn_ holder of caid note or of the second party to cmercize the rights hereinb_fore granted, nor any arts or o'siecions, nor env lance of t.-n, ahnll be construed to be a waiver of any right hereunder, if the right chill have once accrued. The power of sale above granted may be e:,^rciscd at different — tiaras as to different portions of the property, and if for any rcacon any executory contract of sale chall not be performed, then new contrar_ts may be made applying to the care portion of the property (with or without other portions). It is expressly agreed that in the event a cede of the property chill be held under the terra of this covenant XI; that notcholder shall have the right to bid on the property. See items 2 and 3 sf Exhibit II, hereof ` XIII. It is understood end agreed that until default in the payment of the note or of breach of one or more of the covenants and agreements of said note go�rtbdo>A thin deed of trust or any other instrument securing said note, the first party/01611 ' .:in in quiet use, possession and management of paid property, and in the enjoyment of the in- co_, revenue and profits therefrom, and that upon payment of the note in full and the fulfillment and performance of all the covenants end agreements of the said note and of this deed of trust and of any other inctnirnr_,ntk cering said note, then upon the request of, and at the cost of, the first party/ a pro •'!_•lecae of this deed of trust shall be executed. If two trustees be herein named, release deeds to be valid mast be executed t , in one of the following ways: (1) by both truatecc; (2) by either trustee and the note- holder. itoncatl:cxxx2modnc:hr.gxha.-tusk=• x)C<'x'r xzmx:Yxk3cx'xomnit1 3.-ecxka>DetieRxoacea 3 XIV. That wherever there is a reference in the covenants and agreements herein pp contained, to any of the parties hereto, the care shall be construed to mean as well the beret, representatives, successors and assigns (whether voluntary by act of the ✓C. parties or involuntary by operation of law) of the rare, and such reference shall apply V to the designated parties, whether they be one or more. The terms "first party" and "party of the first part" shall include the maker of the note unless said maker be ex- , preachy excluded. , nk First /agree per pa• rt party. per Addendum attached hereto and made a hereof.This deed of trust shall be construed and enforced in accordance with and shall be governed by the lava of the State of Virginia. I For additional terms, see Exhibit II, attached hereto and made n The parties hereto furthern eb hereof agree that to further secure the above described indebted- - sees, this deed of trust shall serve as a security agreement covering all goods, equipment and fixtures now or hereafter owned or used by first party on or about the heroin described property. This security agreement shall in addition cover all proceeds of such collateral when sold. First party hereby agrees to pay all costs incurred by second party in continuing the lien of any financing statements filed in connection herewith. In , addition to the other remedies provided in this inatruaent, second party is hereby authorized to exercise the rights of a secured party under the Uniform Commercial Code of ( Virginia or any subsequent law in lieu thereof. A default under this deed of trust shall constitute a default under this security agreement. • a d 3a v � • I".. NTTHESS WHEREOF, the first party rf an �irdividual or individuals, has here- unto set his, her, their or its hand and seal, or if a corporation has caused thane preset.te to be signed in its name and sealed with its peal by its duly authorized • officers, the day and year first above written. RIO SOCI LIMITED PARTNERSHIP, a Virgin Limited Pa tnership i B7 i_ ! 1�ju (SEAL) By /,L��Q� (SEAL) CEQaral Piartner Central Partner \I?,ll I•��/ , . VIRCINI. OVAL BA K. TRUSTEE �` • y' t- • • �/•� t���' �GLt.c.y l�.t.t•Q //t,1.0.��ZLtf<f (!//+�-•� • I _6 1 soar 593 PACEO007 S ate of Vof �.�,f7{„ of [ 4r7vt to-wit "`he orep •ng instrument was acknowledged before me this` /, day of •!L , 1976, by S. W. }ieischnan, General Partner of Rio / sociates Limi�jjd.,Partne�h,i•p. My commission expires•�{'a 1 '� 7`/. / 1 1-4 ':mt..r euEri �tate of Virp a G12!-t�' of ii,Lipdif e.e, to-wi t The tore(' np, instrument was acknowledged before me thi //W( day ofyc.c'_, 1976, by J. Y. Plotkin, General Partner of Rio /F ociates Limit•d,Partncrshin. My commission expires / /S'7`' Notaryr ub is tat of Vi nia n_ t L of ON7i iU , to-wit . `j_he prep s ing instrument wa /ac' now edged efore me this tlday.,ofk, , (.., 197C, by re' C Jn , A J• fc A .tof Vi;n, n•;a a a.9:11�1 man , .rustee. y commis ion expires I Lh `I1`/t, ..ary :,' is tate of Vir is v1Z , of ' % , 117 , to-wit h-he ores ing instrument w, ^ a 'p.nowled ed b fore me t 's I ay of i , 1976, by Is, Ill ll A.mv1 L111,C1, , of Virg�niia National Bank, Trustee. • M 'commission expires s, 11� ,Q, (Sj1 h�(� ',I l— Notary Public I -7- J , . i, BCCX 598 map 008 ADDF.NDU't to Deed of Trust from RIO ASSOCIATES LIMITED PARTNERSHIP, o a Virginia Limited Partnership ,, et als, to WARREN W. WILY.INS and i WILLIAM R. SHA?JDS, JR. , Trustees, dated , 1976: • VIRGINNIA NATIONAL BANK, Trustee, Fee Owner, and Lcssoc, and RI') ASSOCIATES LIMITED PARTNERSHIP, Lessee, have executed ' ' this Deed of Trust conveying their separate estates in the pro- party herein conveyed for the purpose of granting to the note- ;+ holder such a lien as would cause to be sold at a sale foreclosing this Dead of Trust, the fee simple title to the property herein; • conveyed, free and clear of the leasehold interest now owned by: RIO ASSOCIATES LIMITED PARTNERSHIP, Lessee, under its lease with ' VIRGINIA NATIONAL BANK, Lessor, dated May 29, 19G9, to WENDELL-W. WOOD, a Memorandum of which is recorded in Deed Book 463, page 29, and which lease was assigned to RIO ASSOCIATES LIMITED PARTNERSHIP i • by Lease and Lease Assignment, dated December 11, 1972, a Memoran- !s dum of which is recorded in Deed Book 520, page 608, both refer- • ences being found in the Clerk's Office of the Circuit Court of. Albemarle County, Virginia, together with the interest of Trustees under that certain Deed of Trust dated December 11, 1972, and re- corded December 29, 1972, in Deed Book 520, page 611 (herein • " called "Subordinated Deed of Trust") , together with the interest ' of the bondholder secured by said Subordinated Deed of Trust, • , and do jointly and severally waive any right, legal or equitable, which they might now have, or which might subsequently accrue to • them, or to anyone holding or claiming under or through them, to • have separate estates sold sennratcly-upon foreclosure. It is the intent of the parties hereto that the lease and Subordinated Deed of Trust described in this paragraph, as set forth in the same ; Subordination Agreement that is referred to below, be automatic- ally terminated by the aforementioned foreclosure sale. • i i In any action commenced to enforce the obligations of the • Bank, created or arising under this Deed of Trust, the judgment i shall he enforceable against it only to the extent of its interest in the property hereby conveyed or conveyed in any other instrument securing the note secured by this Deed of Trust, and any such iuda- ;' ment shall not be subject to execution or. nor be a lien on any other assets of the Bank. i r 1 If and only if The Life Insurance Company of Virginia becomes the holder of the note secured by this Deed of Trust, the! terms of said note and this Deed of Trust will he deemed to include the following paragraph: I '` i In any action cmmmenc.'d to enforce the obligations of first party, created or arisinr under this Deed of Trust, the judg- ,, ^:ent shall be enforceable against it only to the extent of its in$ ', terest in the property hereby conveyed or conveyed in any other i instrument securing the note secured by this Deed of Trust, and any i :' such judgment shall not he subject to execution on nor he a lien on 1 any other assets of first Dirty. i .i :'( 1 I! POnE'tDm CONTINUED ON NEXT PMrT I i. - 8 - • • • asnay ;o pupa saga ;o suoTatpuoo put t warp eta sapun aansotooso; pun_ oa saursuoo Agaaaq xueq aya uaga asnay ;o papa sTga ;o suotaTpuou put. swaal attic ;o uotaelotn a sT raagl ;T stga sadptTMouvor rigparu :turq at; •asnay Jo pupa stya ;o saotatpuoo put' Swara rua oa spoa:fr pur sauosuoo Kurq 0yy •apupaups stun uT aaTTaea oa praar;aa luacora2y uoTarutpsogns owes ow:. rig � . poo,.apTnu se asnay ;o poor stt{a oa parutpaogns sT jo pooa paa2UTpaogns pTesoaOlt attic Arta SlueaatM put' 'sroalt 'sateta/too 'saursradaa aoyaan; rigrapq riaatd 1sat; put 'asnaW_y o park stua uaTM ljsnoautajn.•tts popaoara put' '9L6L paatp sur::aaa3V uotarutpaognS r iq prouaptna sP asnay jo por•T sTtja ol eaeuTpaogns ST asept pTestaoir eq1 attl 11:Pa-WM put 'ooaJv 'luru0noo 'avasradra /0aaoq 'prasnay 'NNW( 'ivnoi LVIi VIt;IJdIA Pu? dI :SE:::1Z.IIVd Q3.LI11I'I S3yVIJOSSV Olii asnay ;o parr ?Tyr. ;o uatt pup oa sty apa;nippy ao Mou at goTt{.' aonposarq: Tana a Aue ;o soLuo;pp jIP st'Att:M rigaaoy ';opapq uoTsTnoad aega0 AU? ;O sSuU 7 -antaoa;;o rya JutatwTT anot tM put, 'asnay Jo prau Stya duTanprxa ao; uoTaeapptsuop atgrniei\ put' pool ;o adToopa spdpoimouXoe Agosrq t'aossrl pue 'apun0 par 'oalsnay ': Jg 'IVi:OI.LVt! VIVID IA ponuTauo0 : (1Ql.3QUV y� 6000307d 66S krona i. • I: • i . I • 1 U:. EXHIBIT I I• Deed of Trust • • .1 : J COMMENCING at a set iron on the southeastern margin of U. S. Route 29, and the westerly property line of J. E. McFarland as set forth in Deed Book 439, page 4, thence S.2S° 20' 40" W. a distance of 37.78 feet to a noint; thence S. 36° 00' 24" W. a distance of 12.39 feet to a point and the place of BEGINNING; thence S. 60° 56' 21" E. a distance of 291.14 feet to a point; thence N. 86° 31' 49" E. a distance of 40.00 feet to a point; thence S. 60° 56' 21" E. a distance of 230.00 feet to a point; thence S. 41° 42' 12" E. a distance of 446.96 feet to a point in the center line of a stream which forms the southeasterly boundary the major courses and distances are as shown between point "A" and point "B". thence along the center a line of said stream S. 57° 09' 20" W. a.distance of 66.02 feet to a point; thence S. 82° 21' 35" W. a distance of 56.08 feet • to a point; thence S. 54° 09' 45" W. a distance of 102.23 feet ; to a point; thence S. 26° 14' 55" W. a distance of 71.18 feet to a point; thence S. 69° 54' 48" W. a distance of 55.39 feet 1 i to a point; thence S. 44° 07' 45" W. a distance of 78.10 feet to a point; thence S. 64° 43' W. a distance of 84.03 feet , to a point; thence S. 53° 31' 43" W. a distance of 80.26 feet r to a point; thence S. 35° 10' 07" W. a distance of 87.35 feet to a point; thence S. 5° 57' 03" W. a distance of 98.63 feet I ' I to a point; thence S. 59° 05' 33" W. a distance of 14.21 feet J to a point; thence S. 20° 18' 05" W. a distance of 46.00 feet to a point; thence S. 69° 36' 11" W. a distance of 46.48 feet I • to a point; thence S. 9° 20' 18" E. a distance of 93.570feet , ;I to an existing pipe, and'the end of said stream; thence 3, j• 46° 30' W. a,distance of 608.28 feetto a set iron; thence N. I' 19° 31' 30" W. a distance of 627.20 feet to a set iron; thence 1 N. 29° 55' 06" E. a distance of 408,78 feet to a set iron; thence N. GO° ' " ' 0454 W. a distance of 150.00 feet to a set iron; thence 74. 5 feet to a I . point; thence NN.236°500'024"EE.aaddistance ofistance of 663.04 feet to the I point being the point and place of beginning. I 1 , • • • I I J I t I, j IfI p - 10 - V I d , t i • • • . _ __ . -.. .. __ ..-•- — .. ._.-- -_-- -_..__-_ r --� . SOAK 5 9 8 r„cE0 0 II • EXHIBIT II 1. The first party and ban}; herby agree to also assigryto note- ! holder, at any time hercaftc- upon request of noteholcer, any • leases specified by noteholder in such request which affect all or any part of the herein described property. Such assignments shall be executed promptly, shall be in such form as noteholder shall require, and shall be recorded at the ex- Dense of the first party. Further, if any lease which is assigned to noteholder in a :,cparate assignment of leases securing said note is terminated or expires, the first party* agrees not to execute any lease covering all or any part of the property covered by the expired or terminated lease with- out obtaining noteholder's prior written approval of said lease. 2. In addition to the rights , poker,:, and duties granted and conveyed to the trustees in this paragraph, said trustees shall have such other rights and powers as shall be necessary or convenient to protect noteholder's rights herein and to sell the property herein dc:.cribcd in the event of any c::ault as aforesaid. In the event that a conflict ever shall exist between any provision in thi•. Deed of Trust and applicable law, the latter shall govern and the trustees are hereby granted the authority to comply with said law and to protect the rights and interests of noteholder. • 3. anon any default in the terns and conditions of this Deed of Trust, and following the acceleration of maturity of the note • indebtedness as aforesaid, a tender of payment of the amount necessary to satisfy the entire indebtedness secured hereby, made at any time prior to foreclosure sale (including sale under power of sale hereunder) Ly the first party or by any- one in behalf of the first party shall constitute an evasion of the prepayment privilege and shall be deemed to be a voluntary prepayment hereunder and such payment, to them ex- tent permitted by law, will tncreforc include the premium required under the prepayment privilege, if any, contained in the note secured hereby, or if at that time there be no such prepayment privilege, then such payment to the extent P,rmit- ted by law will include a premium for such prepayment of five (St) percent of the then principal balance. 4. Anything herein in this Deed of Trust notwithstanding, the noteholder agrees that in the event a breach or default of the note secured by this Deed of ':. .>t or a breach or . default of this Deed of Trust, this Deed of Trust will not be foreclosed unless and until the noteholder has notified WENDELL W. WOOD and VIRGINIA NATIONAL BANK, Trustee, in writing of the specific breach or default. then exist4ng ar.d has given the said WENDELL W. WOOD and VIRGINIA NATIONAL BANK, Trustee, thirty (30) cays in which to repair or correct such breach or default. Nothing contained in this paragraph 4 shall preclude the noteholder from exercising any other rights a andhich it may have hereunder. Exhibit II is continued on next page. **other than the Lease and Lease Assignment described in the Addendum. - 11 - v nu 5 9 8 PACEO O 12 EXHIBIT II Continued i I 5. There shall not be any tran:fer of all or any part of the property (except for the leases to the tenants) without the prior written consent of the notcholder secured hereby, and all information renuested by the said noteholder to consider the terms and conditions of such transfer will be furnished by the party desiring to so transfer. It is expressly under- stood, however, that the word "transfer" as used herein shall not include any taking of title and/or possession by WE:NDELL W. WOOD, STUART F. CARWILE, and FREDERICK L. RUSSELL, Trustees, and/or VIPrINIA NATIONAL BANK, Trustee, pursuant to the terms of the lease hereinafter described in the Addendum attached hereto or the terms of the Subordinated Deed of Trust. It is further understood that the noteholder ' secured hereby will recognize the purchaser at any fore- closure sale under the Subordinated Deed of Trust, or the grantee in any deed :n lieu of foreclosure made pursuant to the Subordinated Deed of Tru:,t as the owner of the property hereby conveyed and ;he noteholder will not accelerate pay- ment of the note nor declare a default in the Deed of Trust by reason of any foreclosure sale under the Subordinated • Deed of Trust or any conveyance by the first party in the nature of a deed in lieu of foreclosure under the Subordinated Deed of Trust. 6. Prepayment provisions are as reserved in the note of even date herewith executed by RIO ASSOCIATES LIMITED PARTNERSHIP, and , secured by this Deed of Trust. 7. All notices given with respect to this Deed of Trust or otherwise in connection with the loan referred to herein shall be complete and effective for all purposes when mailed to the desired recipient by certified mail , return receipt requested, • in the following manner: i. If mailed to Central National Bank, noteholder, the notice must be addressed as follows: The Central National Bank of Richmond 219 East Broad Street Richmond, Virginia 23219 ATTN: Construction Loan Department If mailed to The Life Insurance Company of Virginia,: A. The original of such notice must be addressed as follows: The Life Insurance Company of Virginia Post Office Box 27601 ! I Richmond, Virginia 23261 ATTN.: Mortgage and Peal Estate Division Exhibit II is continued on next page. • - 12 - • 4 • BOOK 5 9 8 PAGED 0 1 3 EXHIBIT II - Continued B. With a duplicate original notice being prepared, mailed as aforesaid and addressed as follows: The Life Insurance Company of Virginia Post Office Box 27601 Richmond, Virginia 23261 ATTN: Law Department iii. If mailed to Rio Associates Limited Partnership, the first party, A. The original of such notice must be addressed as follows: Pio Associates Lirited Partnership c/o J. v. Plotkin, General Partner Richmond Lumber Company P.O. Box 572 Richmond, Virginia 23205 B. With a duplicate original notice being prepared, mailed as aforesaid, and addressed as follows: Rio Associates Limited Partnership c/o S. W. Peischman, General Partner 200 Colonnade nrive Charlottesville, Virginia 22903 iv. If mailed to Virginia `rational Bank, Trustee, A. The original of such notice must he addressed as follows: Virginia National Bank, Trustee 300 East Main Street Charlottesville, Virginia ATTN: Paul C. Smith B. With a duplicate original notice being prepared, mailed as aforesaid, and addressed as follows: Junius R. Fishburne, Esquire 240 Court Square Charlottesville, Virginia v. If mailed to Wendell W. Wood, A. The original of such notice must be addressed as follows: Mr. Wendell W. Wood P.O. Box 5548 Charlottesville, Virginia 22903 B. With a duplicate original notice being prepared, mailed as aforesaid, and addressed as follows: Stuart F. Carwile, Esquire P.O. Box 1228 Charlottesville, Virginia 22902 EXHIBIT II IS CONTINUED ON NEXT PAGE. • - 13 - 1 j • •• i ! fit - I • t i • � I I I I i — I I •a3TASas Truouaod SD a303o lzar Oazo; 0.:es ot„ OArtt TTrgs ooTAaos pcasod SO poartatasgns •pzpunn' by ,nsGT rtutbitn 3o apop Oya ;o 3 OTat./ oa auenuar,d Trtor;;o pozTaoganr sogao so 7;Taolis or{a Aq poa3Oxtp sT Oataou yarn uoq o; /Caara Ot{a uoc:n pOnsas Oat7,ou trans LUtnr4 Aq uantb aq •iru uToaoq ooTaou'OATzoofla 'anoqu L 4drsGrsrd uT ao; poptnoad Oo,aou 3o a0uueu ltt•e t.uo3 Ot;a oa uotaTppe uI •G •Agaso4 pasnoas olou atll ;o sapto4 ow, owooaq etu.Jst,\ ;o Auudwo3 aouesnSul ojT1 agy pinoqs aaa;;a .Ao ao.a0; aogasn; anotl:tM oq TTy4s 4uys:le.ard St4y •.Opunosa4 atne;ap aanarasuo3 ttvo saaaY.1 auawatwwoD flans ;o uorlytOtA so 4orosq AuV •ssno4 Jupiuiq Tywsou dutanp puou4oti1 3u .iuyj Teuotat•l, Tesau4D oqL ;o aot;;u utel+ aga le uotaaausut .ao; atgtTtene .t sa13.1 auaultwwop ow. Jo • Ado° eJ •;Oa.aoq a.at•a L :.pow puu UTDUCAt paayzodaoout ase suotstnosa 143tL % 'puuutotd ;o :(Uyy T_yuotlyi, tesauaj atLL our Alava asst; uaa•aaag ' 3LGI Z aunt paaup •aaaaoq a Uawa TwwO, utea.aa0 r ;O SUOi.•-Ao.aa aUa ;o AUy ale(OtA SO 4lt'z q a1 aou saueuanoo a:4saou:aed Paltwt'1 saaytoossv 0Ta g •L gdra2e.aed stga 30 sauw.._,atnba..z tie flat% soTtdwoa o2urgo ssosppe ;o aataou cons paptno.au L que,aJesyd sTga uT pot;toads , sotl.aud sagao /Iv oa aataou :1urA1J Aq socsoappe anogy a4a aduego new anoge paastt asr sossoappr asoq:i sop-zed /U'/ •sauOwastnb)s • Juto2aso; agl 4axt aouettuuo3 ;o ;ooad oq ttegs posn sere ssosppe aletsdosdde aqa ae4a `JuTMO4s Ootn,:Os tyasod Oya wos3 ldt00Os usnaas pou2ts oqy •uTOsog pot;toads uotauoaay pue sasszsppe a4a oa p0TTew ase ;ooaoq A pur 'At 'TTT 'TT sydeIJesrdgns uT pat;toads sootaou yaoq szotun aAtaoo;;o oq TTrgs aotaou o;l ponutluo0 :I L I si l l! O33VJ $ 6 S Aooa • • . • • • BOOK 5 9 8 PACED O 15 rxHISIT III The note secured by this Deed of Trust ( herein referred to as "this note" ) shall he navahle on_ demand until (i) the date this note is assigned to The Life Insurance Company of Virginia, or (ii) until November 30, 1977, whichever is the earlier date. If this note is not assigned to and accepted by The Life Insurance Connanv of Virginia on or before November 30, 1977, the entire principal balance and all accrued interest thereon shall become immediately due and payable, without demand. During the period this note is payable on demand, this note shall bear interest on the unpaid balance from date until paid in full at a rate per annum equal to two (2%) percentum above the prime commercial lending rate of The Central National Bank of Richmond (being the rate of interest charged by said Bank to its largest and most credit worthy corporate customers). Interest on the unpaid balance at said rate shall be payable on the first day of the next succeeding month from the date hereof and on the first day of each succeeding month thereafter until this note shall have been paid in full or assigned to The Life Insurance Company of Virginia as herein provided. Any change in the interest rate provided for in this paragraph to become effective on the first day of the next succeeding day , following the corresponding change in said prime commercial lending rate. In the event this note is assigned to The Life Insurance Company of Virginia on or before ;November 30, 1977, from and after the date of such 2sslrnmcnt this note shall bear interest at the rate of nine and three quarters (9 b 3/4) percentum per annum and principal and interest shall be payable as follows: Interest from the date of said assignment at the rate of nine and three quarters (9 B 3/4) percentum per annum shall be due and payable on the first day of the month following said assignment; thereafter this indebtedness shall be repaid in three hundred sixty (360) consecutiv monthly installments, commencing on the first day of the secono month following the assignment of this First Mortgage Real-Estate Note to The Life Insurance Company of Virginia, and continuing on the first day of each and every month thereafter until the note shall be paid in full in accordance with its terms; the first 359 installments to be for $35.440.12 each and the final installment to be for the remaining balance of principal, plus accrued interest thereon. Payments of each monthly installment when received by notcholder shall be first applied to accrued interest at the rate of 9 3/4% per annum on the then outstanding balance of principal and the residue of said installment payment to be applied to reduction of principal. • • • • • - 15 - —,..3 • ` 1..._, •9\ NO ft FROM rOfNf S• 10..0.•f-1.- .._...no 1 Jn` •owtoOrr 0Or1O0f f01 Ctnfr.Ust O B 869 - 807 P F of trrtrM Mr/or COu.,t, ,..or+ ••.� r soft Of Vs,HAIM/ \ -, 1.1 \ 30,0......,\N.::: J f•to•'el •,• : J ` t S.1•J•••0$-• 1 •• • .• I '.ri.?/-..45‘/,,I iN S.$31.0f.1t N i !f•f/OJ• Cn f.•f. ' ,I,.. •fir-' s• „0 JC 0, N J JJ•sl•0I••, Se' It J J 6 !JJ•Jf•4•• I Isl J•• 22.872 ACR $r.•u•• .. 0 B 'Ail. 485 ••JJ J•••Of •J'• . r ' r•to• k $•••fr..-. y If II •'• . J a•.•5s... YI:Is. n . \ S J,••0f•.J•. '0: 1, S. • •I J.:!r 0.•J, JJ• •, rs.••of•r,,• .i 00 J: / Y" fI Of •••. •O cY•• M•,I l�lfr r• ^ 4^ t••1• , I• n. 'r J•Y 'NJ]•f0'10' • „ •,f n' t I r f H•,f•15•0 • 5. 948 ACR s' •.OS / 1•• ,111•7J••J•r, 0 �. ' I r,•,.•• ( ; ,• ` J E Mr.For/one' `1 , t I ., S,''rn 1 0 B •,9 .• . O / J / l i►'7 / e° ."4 �„�B�Oo't• / • I I . ! \Oy ` le I i r I I i 1 ©U U N U A R Y PLAT SHJWING I 2 8 . 8 2 ACRE TRACT AT THE INTERSECTION OF STATE ROUTE 631 a U. S. ROUTE 29 ALBEMARLE C L J N 1 1 , 1 R S I N IA MARCH 9 , 1976 8 . AUBREY HUFFMAN a ASSOCIATES CIVIL F N.7 I::E SR I N G , LAND SURVEYING and LAND NINGPLAN I: n A R L J T TESVILLC , VIRGINIA • .1 Ill f • 10 ecx 598 ncE00I7 • d _ VIRGT2:T.1: IN THE CLERK'S OFFICE or THE CIRCUIT COURT Oi THE COUNTY 07 ALBL XtRLE : This deed was presented, and with Certificate anaexcd, admitted to record ons.t State Local tax ? .O, / e, A7�y0 Transfer tee C1(.rk1 :: fee r Plat TF.STE: Grantor's tax (A SUCLE'i J. :L1;:5V �L CLERK TOTAL i 00 1;Y: .. Deputy Clerk • • • a