A construction deed of trust South Coast Agreement is a document drafted by the organization South Coast Group in order to secure the obligations in the credit agreement drafted earlier.
South Coast group is referred to as the trustor in the agreement and the other parties entering into the agreement are referred to as the trustee and beneficiary. The beneficiary is usually a finance organization who agrees to make loans and letters of credit to the trustor. The beneficiary and the lender also make certain arrangements that are secured by the deed of trust.
The details usually mentioned in the agreement are as follows:
- The principal amount of credit made available to the trustor
- The grant in trust in order to secure payment
- The payment and performance of all obligations under the deed of trust
- The license granted
- The various financing statements
- The security arrangements made
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