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4. Insurance. (a) All risk property insurance covering all risk of loss by fire, lightning and risks customarily covered by standard extended coverage endorsement, together with a vandalism and malicious mischief endorsement or on all perils endorsement and a full replacement cost endorsement, all in amounts not less than the full replacement cost of all improvements plus the cost of debris removal, but, in any event, not less than the original principal amount of the Note. aforementioned property. The properties so conveyed to Trustee hereunder are hereafter referred to singularly as the "Property." TRUSTOR COVENANTS that Trustor is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for easements, covenants and restrictions of record. Trustor warrants and will defend generally the title to the Property against all claims and demands, subject to any such easements, covenants and restrictions of record.Trustor and Beneficiary covenant and agree as follows: 1. Payment of Principal and Interest; Prepayment and Late Charges. Trustor shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Application of Payments. All payments received by Beneficiary under paragraph 1 shall be applied: first, to late charges due under the Note; second to interest due; and last, to principal due. 3. Charges; Liens. Trustor shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Deed of Trust, and leasehold payments or ground rents, if any. Trustor shall pay them on time directly to the person owed payment. Trustor shall promptly furnish to Beneficiary all notices of amounts to be paid under this paragraph. Trustor shall promptly furnish to Beneficiary receipts evidencing the payments. Trustor shall promptly discharge any lien which has priority over this Deed of Trust or which may impair the security of this Deed of Trust, on the above - described Property unless Trustor: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Beneficiary; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Beneficiary's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Beneficiary subordinating the lien to this Deed of Trust. If Beneficiary determines that any part of the Property is subject to a lien which may attain priority over this Deed of Trust, Beneficiary may give Trustor a notice identifying the lien. Trustor shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 201 Trustor shall keep or cause to be kept insurance on the Property of the following character: #Locust Street - Deed of Trust