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201201590 5. Ri�hts and Duties of the Parties. 5.1 Representations and Warranties. Grantor represents and warrants that as of the date hereof: (a) Subject to the Permitted Exceptions, Grantor lawfully possesses and holds fee simple title to all of the Land and Improvements; (b) Grantor has good and marketa.ble title to all Property other than the Land and Improvements; (c) Grantor has the full and unlimited power, right and authority to encumber the Property and assign the Rents; (d) This Deed of Trust creates a first and prior lien on the Property; (e) The Property includes all property and rights which may be reasonably necessary or desirable to promote the present and contemplated future beneficial use and enjoyment of the Land and Improvements; (� Grantor owns any Property which is personal property free anii clear of any security agreements, reservations of title or conditional sales contracts, and there is no financing statement affecting such personal property on file in any public office; and (g) Grantor's place of business, or its chief executive office if it has more than one place of business, is located at the address specified below. 5.2 Taxes, and Assessments. Grantor shall or shall cause Tenant to pay prior to delinquency all ta�ces, levies, charges and assessments, in accorda.nce with the Loan Agreement. 5.3 Performance of Secured Obligations. Grantor shall promptly pay and perform each Secured Obligation in accordance with its terms. 5.4 Liens, Charges and Encumbrances. Grantor shall or shall cause Tenant to immediately discharge any lien on the Property which Beneficiary has not consented to in writing. 5.5 Damages and Insurance and Condemnation Proceeds. In the event of any casualty or condemnation of the Property, the provisions of Article 11 of the Loan Agreement shall govern. 5.6 Maintenance and Preservation of Properiv. (a) Grantor shall or shall cause Tenant to (i) insure the Property as required by the Loan Agreement and (ii) keep the Property in good condition and repair. (b) Grantor shall not and shall not permit Tenant to remove or demolish the Property or any part of it, or alter, restore or add to the Property, or initiate or allow any DEED OF TRUST — Page 7 #3982161