Secured By Deed Of Trust And Security Agreement (Page 4 of 5) in pdf

Secured By Deed Of Trust And Security Agreement Page 4

Solvang Brewing Company, Inc. / Renfrow Family Properties, LLC.

Renfrow LLC

Renfrow Family Properties, LLC.

625 Atterdag Road

Solvang, CA 93463

Attn: Stephen M. Renfrow, Manager

City:

City of Lompoc

100 Civic Center Plaza

Post Office Box 8001

Lompoc, California 93438-8001

Attention: Community Development Program Manager

With copy to:

City of Lompoc

100 Civic Center Plaza

Post Office Box 8001

Lompoc, California 93438-8001

Attention: City Attorney

Notices shall be effective upon the earlier of receipt or refusal of delivery. Each party

shall promptly notify the other party of any change(s) of address to which notice shall be

sent pursuant to this Note.

16.

Modifications. Neither this Note nor any term hereof may be waived, amended,

discharged, modified, changed or terminated orally; nor shall any waiver of any

provision hereof be effective except by an instrument in writing signed by Borrowers and

City.

17.

No Waiver by City. No waiver of any breach, default or failure of condition under the

terms of this Note shall be implied from any failure of the City to take action, or any

delay be implied from any failure by the City in taking action, with respect to such

breach, default or failure from any prior waiver of any similar or unrelated breach,

default or failure.

18.

Time of Essence. Time is of the essence in the performance of the obligations and

provisions set forth in this Note.

Page 4 of 5 Pages

Secured By Deed Of Trust And Security Agreement Page 4