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200101836
<br />2. Performance, discharge, of and compliance with every obligation, covenant, and agreement of Trustor incorporated by
<br />reference or contained herein or in any other security agreement or deed of trust at any time given to secure any indebtedness
<br />hereby secured, or any part thereof.
<br />3. Payment of all fees and charges of Beneficiary, whether or not set forth herein.
<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 will
<br />forever warrant and defend the title thereto against the claims and demands of all persons whosoever; that it will, at its
<br />expense, maintain and preserve the lien of this Deed of Trust.
<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
<br />for labor performed and material furnished therefor and for any alterations thereof, to comply with the provisions of all
<br />insurance policies covering said premises; to comply with all laws, ordinances, regulations, covenants, conditions and
<br />restrictions affecting such property; not to remove, demolish or materially alter any building, or the character or use thereof at
<br />anytime thereof; not to drill or extract nor to permit the drilling for or extraction of oil, gas or other hydrocarbon substances or
<br />any mineral of any kind unless the written consent of Beneficiary is first had and obtained; not to commit or permit any waste
<br />thereof or any act upon such property in violation of law; to do all other acts in a timely and proper manner which from the
<br />character or use of such property may be reasonably necessary to protect and preserve said security, the specific enumerations
<br />herein not excluding the general.
<br />3. Construction of Improvements: To complete in good and workmanlike manner any building or improvement 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
<br />and liabilities incurred therefor, and not to permit any construction lien against such property. Trustor also agrees, anything in
<br />this Deed of Trust to the contrary notwithstanding (a) to promptly commence work and to complete the proposed
<br />improvements promptly, (b) to complete the same in accordance with plans and specifications as approved by Beneficiary, (c)
<br />to comply with all of the terms of any building loan agreement between Trustor and Beneficiary, (d) to allow Beneficiary to
<br />inspect such property al all times during construction, and (e) to replace any work or materials unsatisfactory to Beneficiary,
<br />within 15 days after written notice from Beneficiary of such fact, which notice may be given to Trustor by registered or certified
<br />mail, sent to his last known address, or by 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 loss payable to Beneficiary in form,
<br />amount and companies acceptable to Beneficiary. Said policies shall be delivered to and remain in possession of Beneficiary as
<br />further security for the faithful performance of these obligations, which delivery shall constitute an assignment by Trustor to
<br />Beneficiary all rights thereunder, including all return premiums; to deliver to Beneficiary a policy or policies renewing or
<br />extending any expiring insurance with a receipt showing premiums paid at least thirty (30) days before expiration. If Trustor
<br />fails to so deliver any renewal policies, Beneficiary may procure such insurance as it may elect and may make payment or
<br />premiums thereon, which payment is repayable on demand. Neither Trustee nor Beneficiary shall be responsible for obtaining
<br />or maintaining such insurance. Beneficiary, from time to time, may furnish to any insurance agency or company, or any other
<br />person, any information concerning 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
<br />insurance, the form or legal sufficiency of insurance contracts, solvency of insurers, or payment of losses by insurers, and
<br />Trustor hereby expressly assumes full responsibility therefor and liability, if any, thereunder. In the event of loss, Trustor shall
<br />give immediate written notice to Beneficiary, and Beneficiary may, but is not obligated to, make proof of loss if not made
<br />promptly by Trustor. In case of any loss the amount collected under any policy of insurance on such property may, at the
<br />option of the Beneficiary, be applied by Beneficiary upon any indebtedness and /or obligation secured hereby and in such
<br />order and amount as Beneficiary may determine; or said amount or any portion thereof may, at the option of the Beneficiary,
<br />either be used in replacing or restoring the improvements partially or totally destroyed to a condition satisfactory to said
<br />Beneficiary or said amount or any portion thereof may be released to the Trustor. In any such event neither the Trustee nor the
<br />Beneficiary shall be obligated to see to the proper application thereof; nor shall the amount so released or used be deemed a
<br />payment on any indebtedness secured hereby. Such application, use, and /or release shall not cure or waive any default or
<br />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
<br />sale held hereunder. If said property is sold pursuant to the power of sale contained herein or pursuant to any decree of
<br />foreclosure, all right, title and interest of Trustor in and to the proceeds of fire and other insurance policies for damage prior to
<br />the sale, which proceeds are not received prior to the date of said sale, shall belong to the Beneficiary.
<br />5. Taxes and Other Sums Due: To pay, satisfy and discharge, at least 10 days before delinquency, all general and special taxes
<br />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 are, or appear to Beneficiary to be prior to or
<br />superior hereto, (2) all costs, fees and expenses of this trust, whether or not described herein, (3) fees or charges for any
<br />statement regarding the obligation secured hereby in any amount demanded by Beneficiary, not to exceed the maximum
<br />amount allowed by law therefor at the time when such request is made, (4) such other charges as the Beneficiary may deem
<br />reasonable for services rendered by Beneficiary and furnished at the request of Trustor or any successor in interest to Trustor,
<br />(5) if such property includes a leasehold estate, all payments and obligations required of the Trustor of his successor in interest
<br />under the terms of the instrument or instruments creating such leasehold, Trustor hereby agreeing not to amend, change or
<br />modify his leasehold interest or the terms on which he has such leasehold interest, or to agree to do so, without the written
<br />consent of Beneficiary being first obtained, and (6) all payments and monetary obligations required of the owner of such
<br />property under any declaration of covenants, conditions and restrictions pertaining to such property or any modification
<br />thereof. Should Trustor fail to make any such payment, Beneficiary, without contesting the validity or amount, may elect to
<br />make or advance such payment together with any costs, expenses, fees or charges relating thereto, including employing
<br />counsel and paying his reasonable fees. Trustor agrees to notify Beneficiary immediately upon receipt by Trustor of notice of
<br />any increase in the assessed value of such property and agrees that Beneficiary, in the name of the Trustor, may contest by
<br />appropriate proceedings such increase in assessment
<br />In the event of the passage of any law deducting from the value of real property for the purposes of taxation any lien thereon,
<br />or 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,
<br />or the 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
<br />obligations which it secures shall have the right to declare all sums secured hereby due as of a date to be specified by not less
<br />than 30 days' written notice to be given to Trustor by Beneficiary; provided, however, that such election shall be ineffective if
<br />Trustor is permitted by law to pay the whole of such tax in addition to all other payments required hereunder and if, prior to
<br />such specified date, does pay such tax and agrees to pay any such tax when hereinafter levied or assessed against such
<br />property, and such agreement shall constitute a modification of this Deed of Trust.
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