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06/04/2001 14:30 308- 234 -4218 I"VRDIK LAW OFFICE PAGE 04 200105298 damaged or destroyed thereon and to pay when due all claims for labor performed and materials furnished therefor; and (e) shall maintain the buildings and improvements thereon in good condition and repair.' 6. Protection of 7ru t Property. If Trustor fails to pay taxes or assessmcnts, maintain insurance or maintain the Property in good repair as provided herein, Beneficiary may pay any such amounts or take steps to protect the value of the Property and the rights of Beneficiary in the Property. Any sums Beneficiary may advance for payment of any such taxes or assessments, maintenance and protection of the Property shall be secured by this Trust Deed, shall constitute a debt due from Trustor to Beneficiary, and shall bear interest from the day of disbursement until paid at the rate of 14% per annum. ARRh ation ofd eats. All payments received by Beneficiary under the Trust Deed Note and this agreement shall be applied first to reimburse advancements made by Beneficiary for protection of trust property, second to interest, and the balance to principal. S. Inspcojog. Beneficiary or Beneficiary's agents may makc reasonable entries on the Property for purposes of inspection. 9. Forbear aace Not Waiver. Any forbearance by Beneficiary or Trustee in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right or remedy hereunder. Likewise, failure by Beneficiary or Trustee to exercise any right or remedy available under this Trust Deed or the Promissory Note on any one default shall not waive or preclude the exercise of any rigbt or remedy on the event of any other similar or subsequent default. By accepting payment of any sum secured hereby after its due date, Beneficiary does not waive his right either to require prompt payment when due of all other sums so secured or to declare default for failure so to pay. 10. Eminent Domain. Should the Property or any part thereof or interest therein be taken or damaged by reason of any taking by right of eminent domain, condemnation proceeding, or in any other manner, including a deed in lieu of condemnation, of should Trustor receive any notice or any other information regarding such proceeding, Trustor shall give prompt written notice thereof to Beneficiary. The parties shall teach mutual agreement as to the receipt of any compensation, award, or other payments or relief granted with respect to exercise of eminent domain, with any amounts which Beneficiary may receive to be applied on the unpaid principal balance of the Note in the inverse order of maturity, without any reduction in the amount of principal and interest payments. 11, l ansfer 9f Property. Beneficiary enters into this agreement on responsibility of Trustor and on the basis of the amicable relations which have previously existed between Beneficiary and Trustor with respect to the subject premises. Should Trustor desire to sell, transfer, convey, or encumber the PAGE 4 Of I I PAGES