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06/04/2001 14:30 308- 234 -4218 TVRDIK LAW OFFICE PAGE 03 200105298 Beneficiary until such time as the entire principal balance of the Note is paid in full. In case of loss under any such policy or policies, Beneficiary is authorized to adjust, collect and compromise all claims thereunder and shall have the option of applying all or part of the insurance proceeds, (i) to any indebtedness secured hereby in such order as Beneficiary may determine, (ii) to the Trustor to be used for the repair or restoration of the property, or (iii) for any other purpose or object appropriate under this Trust Deed as determined by Beneficiary without affecting the lien of the Trust Deed for the full amount secured hereby before such payment occurred. Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under the Trust Deed note, or cure any default under such Trust Deed now or this Trust Deed. In addition, Trustor shall carry comprehensive public liability insurance against claims for bodily injury, death, or property damage occurring on, in, or about the Property with liability limits of not less than $1,000,000 with respect to injury or death to any one person, not less than $3,000,000.00 with respect to any one occurrence, and not less than $500,000.00 with respect to property damage, and Beneficiary shall be named as an additional insured on all such policies. Trustor shall furnish Beneficiary a certificate of insurance coverage on all policies of insurance referenced herein with a provision in such certificatc(s) that the insurer shall provide Beneficiary 30 days advance notice of any cancellation of any policy at any time for any reason, or of expiration of the policy without renewal thereof. Should Trustor fail or neglect to acquire the insurance required hereunder, Beneficiary is authorized, but shall be under no obligation, to obtain such insurance which cost shall become an additional amount owing by Trustor to Beneficiary, and any payment of insurance premium by Beneficiary shall not release Trustor from any obligation hereunder. Environmental CoMpliance. Trustor shall comply with all federal, state and local environmental laws, ordinances, rules, requirements, regulations and publications as now existing or hereafter existing, amended, supplemented or supplanted relating to the preservation of the environment or the regulation or control of toxic or hazardous substances or materials. Trustor hereby warrants and represents to Beneficiary that there are no toxic or hazardous substances or materials on or under the Property. Trustor hereby indemnifies and holds Beneficiary harmless and any successors to Beneficiary's interest from and against any and all claims, damages, losses and liabilities arising in connection with the presence, use, disposal or transport of any substance the subject of any environmental law, regulation or control of toxic or hazardous substances or materials on, under, from or about the property. This indemnity shall survive reconveyance of the property secured by this Trust Deed. Use & preservatign of Prop. Trustor shall use the Property for lawful purposes only. Trustor: (a) shall not remove, demolish, or substantially change or alter the Property without Beneficiary's prior written consent; (b) shall not allow the Property to deteriorate, or commit or permit waste thereof, (c) shall comply with all laws and regulations applicable to the use of the Property; (d) shall complete or restore promptly and in good and workmanlike manner any building which may be constructed, PAGE 3 OF 11 PAGES