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FOR PURPOSE OF SECURING:
<br />A. Payment of the principal sum of One Hundred Six Thousand and 00 /100
<br />Dollars ($ 106,000.00 ) evidenced by that certain Promissory Note
<br />dated of even date herewith (hereinafter referred to as "Promissory note ") issued by Trustor in said amount and payable to the order of
<br />Beneficiary, together with interest thereon, late charges and prepayment bonuses according to the terms of the Promissory Note and all
<br />renewals, extensions and modifications thereof.
<br />B. Performance, discharge of and compliance with every obligation, covenant and agreement of Trustor incorporated by reference
<br />or contained herein or in any other security agreement or deed of trust at any time given to secure any indebtedness hereby secured, or
<br />any part thereof.
<br />C. The performance, discharge of and compliance with every obligation created by a guaranty agreement or continuing guaranty
<br />or similar agreement in securing the performance of the Promissory Note referenced above herein.
<br />D. The performance, discharge of and compliance with every obligation, covenant and agreement contained in a loan agreement
<br />of the Trustor or the Maker of the aforementioned Promissory Note or other individuals executed at or reasonably near the time of the
<br />execution of said Promissory Note.
<br />E. Payment of all fees and charges of Beneficiary, whether or not set forth herein.
<br />F. Payment of future advances necessary to protect such property.
<br />G. Future advances made to trustor or either of them, the total future advances not to exceed the sum of Zero and 00 /100
<br />Dollars ($ 0.00 ).
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS:
<br />1. Title: That it is lawfully seized and possessed of a good and indefeasible title and estate to such property in fee simple and
<br />will forever warrant and defend the title thereto against the claims and demands of all persons whosoever; that it will, at its expense,
<br />maintain and preserve the lien of this Deed of Trust as a first and paramount lien upon such property.
<br />2. Maintenance: To keep such property in good condition and repair; to complete or restore promptly and in good and
<br />workmanlike manner any building which may be constructed, damaged or destroyed thereon and to pay, when due, all claims for labor
<br />performed and materials furnished therefor and for any alterations thereof; to comply with the provisions of restrictions affecting such
<br />property; not to remove, demolish or materially alter any building, or the character or use thereof at any time thereon; not to drill or
<br />extract, not to permit the drilling for or oil, gas or other hydrocarbon substances or any mineral of any kind unless the written consent of
<br />Beneficiary is first had and obtained; not to commit or permit any waste thereof or any act upon such property in violation of law; to do
<br />all other acts in a timely and proper manner which from the character or use of such property may be reasonably necessary to protect and
<br />preserve said security, the specific enumerations herein not excluding the general.
<br />3. Construction of Improvements: To complete in good and workmanlike manner any building or improvements or repair
<br />relating thereto which may be begun on such property or contemplated by the loan secured hereby, to pay when due all costs and
<br />liabilities incurred therefor, and not to permit any construction lien against such property. Trustor also agrees, anything in this Deed of
<br />Trust to the contrary notwithstanding: (a) to promptly commence work and to complete the proposed Improvements promptly, (b) to
<br />complete same in accordance with plans and specifications as approved by Beneficiary, (c) to comply with all of the terms of any
<br />construction loan agreement between Trustor and Beneficiary, (d) to allow Beneficiary to inspect such property at all times during
<br />construction, and (e) to replace any work or materials unsatisfactory to Beneficiary, within fifteen (15) days after written notice from
<br />Beneficiary of such fact, which notice may be given to Trustor by registered or certified mail, sent to his last known address, or by
<br />personal service of the same.
<br />4. Fire and Casualty Insurance: To keep such property insured against loss or damage by fire and other risk or risks which, in
<br />the opinion of Beneficiary should be insured against, under policies of insurance with Toss payable to Beneficiary in form, amount and
<br />companies acceptable to Beneficiary. Said policies shall be delivered to and remain in possession of Beneficiary as further security for
<br />the faithful performance of these obligations, which delivery shall constitute an assignment by Trustor to Beneficiary to all rights
<br />thereunder, including all return premiums; to deliver to Beneficiary a policy or policies renewing or extending any expiring insurance
<br />with a receipt showing premiums paid at least thirty (30) days before expiration. If Trustor fails to so deliver any renewal policies,
<br />Beneficiary may procure such insurance as it may elect and may make payment of premiums thereon, which payment is repayable on
<br />demand. Neither Trustee nor Beneficiary shall be responsible for obtaining or maintaining such insurance. Beneficiary, form time to
<br />time, may furnish to any information conceming the loan secured hereby. In no event and whether or not default hereunder has occurred
<br />shall Beneficiary, by the fact or approving, accepting or obtaining such insurance, incur any liability for the amount of such insurance,
<br />the form or legal sufficiency of insurance contracts, solvency of insurers, or payment of losses by insurers, and Trustor hereby expressly
<br />assumes full responsibility therefor and liability, if any, thereunder. In the event of loss, Trustor shall give immediate written notice to
<br />Beneficiary, and Beneficiary may, but is not obligated to, make proof of loss if not made promptly by Trustor. In case of any loss the
<br />amount collected under any policy of insurance on such property may, at the option of the Beneficiary, be applied by Beneficiary upon
<br />any indebtedness and /or obligation secured hereby and in such order and amount as Beneficiary may determine; or such amount or any
<br />portion thereof may, at the option of the Beneficiary, either by used in replacing or restoring the Improvements partially or totally
<br />destroyed to a condition satisfactory to said Beneficiary, or said amount, or any portion thereof, may be released to the Trustor. In any
<br />such event neither the Trustee nor the Beneficiary shall be obligated to see the proper application thereof; nor shall the amount so
<br />released or used be deemed a payment on any indebtedness secured hereby. Such application, use, and/or release shall not cure or waive
<br />any default or notice of default hereunder or invalidate any act done pursuant to such notice. Any unexpired insurance and all returnable
<br />insurance premiums shall inure to the benefit of, and pass to, the purchaser of the property covered thereby at any Trustee's sale held
<br />hereunder. If said property is sold pursuant to the power of sale contained herein or pursuant to any decree of foreclosure, all right, title
<br />and interest of Trustor in and to the proceeds of fire and other insurance policies for damage prior to the sale, which proceeds are not
<br />received prior to the date of said sale, shall belong to Beneficiary.
<br />5. Taxes and Other Sums Due: To pay, satisfy and discharge, at least ten (10) days before delinquency, all general and special
<br />taxes and assessments affecting such property, and in no event later than the date such amounts become due: (1) all encumbrances,
<br />charges and liens, with interest, on such property, or any part thereof, which re, or appear to Beneficiary to be prior to or superior hereto,
<br />(2) all costs, fees and expenses of this trust, whether or not described herein, (3) fees or charges for any statement regarding the
<br />obligation secured hereby in any amount demanded by Beneficiary, not to exceed the maximum amount allowed by law therefor at the
<br />time when such request is made, (4) such other charges as the Beneficiary may deem reasonable for services rendered by Beneficiary
<br />and fumished at the request of Trustor or any successor in interest to Trustor, (5) if such property includes a leasehold estate, all
<br />payments and obligations required of the Trustor, or his successor in interest, under the terms of the instrument or instruments creating
<br />such leasehold, Trustor hereby agreeing not to amend, change, or modify his leasehold interest or the terms on which he has such
<br />leasehold interest, or to agree to do so, without the written consent of Beneficiary being first obtained, (6) all payments and monetary
<br />obligation required of the owner of such property under any declaration of covenants, conditions and restrictions pertaining to such
<br />property or any modification thereof. Should Trustor fail to make any such payment, Beneficiary, without contesting the validity or
<br />amount, may elect to make or advance such payment, together with any costs, expenses, fees or charges relating thereto, including
<br />employing counsel and paying his reasonable fees. Trustor agrees to notify Beneficiary immediately upon receipt of Trustor of notice of
<br />any increase in the assessed value of such property and agrees that Beneficiary, in the name of Trustor, may contest by appropriate
<br />proceedings such increase in assessments.
<br />In the event of the passage of any law deducting form the value of real property for the purpose of taxation any lien thereon, or
<br />changing in any way the laws for the taxation of deeds of trust or debts secured by deeds of trust for state or local purposes, or the
<br />manner of the collection of any such taxes, so as to affect this Deed of Trust, the holder of this Deed of Trust and of the obligations
<br />which it secures shall have the right to declare all sums secured hereby due as of a date to be specified by not less than 30 days` written
<br />notice to be given to Trustor by Beneficiary; provided, however, that such election shall be ineffective if Trustor is permitted by law to
<br />pay the whole of such tax in addition to all other payments required hereunder and if, prior to such specified date, does pay such tax and
<br />agrees to pay any such tax when hereafter levied or assessed against such property.
<br />6. Sums Advanced to Bear Interest: To pay immediately upon demand any sums advanced or paid by Beneficiary or Trustee
<br />under any clause or provision of this Deed of Trust. Any such sums, until so repaid, shall be secured hereby and bear interest from the
<br />date advanced or paid at the same rate as the Promissory Note and shall be secured by this Deed of Trust.
<br />7. Assignment of Deposits: That as further additional security if this be a construction loan, Trustor hereby transfers and assigns
<br />to Beneficiary during continuance of these Trusts, all right, title and interest to any and all monies deposited by Trustor or deposited on
<br />behalf of Trustor with any city, county, public body or agency, sanitary district, gas and/or electric company, telephone company and
<br />any other body or agency, for the installation or to secure the installation of any utility by Trustor, pertaining to s h property.
<br />8123.CV (8/13) 914030
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