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(or any of them if more than one) to Lender whether direct, indirect, absolute or contingent and whether arising by
<br />note, guaranty, lease, admission agreement, or otherwise. The Note, this Deed of Trust and any and all other
<br />documents that secure the Note or otherwise executed in connection therewith, including without limitation
<br />guarantees, security agreements and assignments of leases and rents, shall be referred to herein as the "Loan
<br />Instruments ".
<br />Trustor covenants and agrees with Lender as follows:
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<br />1. Payment of indebtedness. All indebtedness secured hereby shall be paid when due.
<br />2. Title. Trustor is the owner of the Property, has the right and authority to convey the
<br />Property, and warrants that the lien created hereby is a first and prior lien on the Property, except for liens and
<br />encumbrances set forth by Trustor in writing and delivered to Lender before execution of this Deed of Trust, and the
<br />execution and delivery of this Deed of Trust does not violate any contract or other obligation to which Trustor is
<br />subject.
<br />3. Taxes, Assessments.. To pay before delinquency all taxes, special assessments and all
<br />other charges against the Property now or hereafter levied.
<br />4. insurance. To keep the Property insured against damage by fire, hazards included within
<br />the term "extended coverage ", and such other hazards as Lender may require, in amounts and with companies
<br />acceptable to Lender, naming Lender as an additional named insured, with loss payable to the Lender. In case of
<br />loss under such policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall
<br />have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such
<br />order as' Lender may determine, (ii) to the Trustor to be used for the repair or restoration of the Property or (iii) for
<br />any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount
<br />secured-hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend
<br />or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder.
<br />5. Escrow, Upon written demand by Lender, Trustor shall pay to Lender, in such manner as
<br />Lender may designate, sufficient sums to enable Lender to pay as they become due one or more of the following: (i)
<br />all taxes, assessments and other charges against the Property, (ii) the premiums on the property insurance required
<br />hereunder, and (iii) the premiums on any mortgage insurance required by Lender.
<br />6. Maintenance, Repairs and Cnmplian a with Laws. Trustor shall keep the Property in
<br />good condition and repair; shall promptly repair, or replace any improvement which may be damaged or destroyed;
<br />shall not commit or permit any waste or deterioration of the Property; shall not remove, demolish or substantially
<br />alter any of the improvements on the Property; shall not commit, suffer or permit any act to be done in or upon the
<br />Property in violation of any law, ordinance, or regulation; and shall pay and promptly discharge at Trustor's cost and
<br />expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof.
<br />7. Eminent Domain, Lender is hereby assigned all compensation, awards, damages and
<br />other payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the Property or
<br />part thereof, or for conveyance in lieu of condemnation. Lender shall be entitled at its option to commence, appear
<br />in and prosecute in its own name any action or proceedings, and shall also be entitled to make any compromise or
<br />settlement in connection with such taking or damage. In the event any portion of the Property is so taken or
<br />damaged, Lender shall have the option, in its sole and absolute discretion, to apply all such Proceeds, after deducting
<br />therefrom all costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured
<br />hereby 'and in such order as Lender may determine, or to apply all such Proceeds, after such deductions, to the restor-
<br />ation of the Property upon such conditions as Lender may determine. Any application of Proceeds to indebtedness
<br />shall ndt extend or postpone the due date of any payments under the Note, or cure any default thereunder or
<br />hereunder. Any unapplied funds shall be paid to Trustor.
<br />8. Performance by Lender. Upon the occurrence of an Event of Default hereunder, or
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