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200005409 NOW, THEREFORE, under this Trust Deed, for the purpose of securing performance of each agreement of Trustor herein contained and the payment in the principal sum of FORTY -FOUR THOUSAND NINE HUNDRED DOLLARS AND NO /100 ($44,900.00) and the interest on unpaid balances, as evidenced by a Note bearing even date at the rate of seven percent (7.0o) per annum until paid, and all extensions, modifications and renewals thereof or advances made subsequent to the date hereon, (all of said documents shall be collectively referred to in this Trust Deed as the "Note "). The principal sum and interest thereon shall be payable according to the terms of said Note. 1. TITLE. The Trustor covenants and agrees with the said Trustee and Beneficiary that it is lawfully seized of said Property; that it has good right and lawful authority to sell and convey said Property, that said Property is free and clear of all liens and encumbrances and that Trustor will warrant and defend the title to said Property unto the Trustee and its successors and assigns forever against the claims of all persons. 2. TRUSTOR DUTIES. It is agreed by and between the parties hereto that while title is vested in the Trustee, prior to any reconveyance, and until filing of a Notice of Default, the Trustor shall: I. Retain possession of the Property and collect the rents and revenues therefrom. II. Maintain the buildings and improvements located thereon in good condition and repair; said buildings and improvements thereon shall not be removed or sold without the written agreement and consent of all parties hereto. III. Pay all taxes and special assessments levied or assessed against or due upon said Property before delinquency, and to deliver to Beneficiary, at Beneficiary's option, copies of receipts showing payment of such taxes. IV. Procure and maintain policies of insurance against the usual hazards of fire, hail, windstorm and other similar risks, in sums and underwritten by companies acceptable to the Beneficiary, with loss payable to the parties as their interest may appear and to deliver copies of such policies to said Beneficiary. V. Pay to the Beneficiary, if Beneficiary so requires, together with and in addition to the regular payments of principal and interest, on the date set forth for the making of the payment a sum as established by the Beneficiary equal to the taxes and special assessments next due on the Property, plus the premium that will next become due and payable on insurance policies covering the Property. Said sums to be held by the Beneficiary ii; trust to pay the taxes, special assessments and insurance premiums. Any deficiency in the amount of any aggregate payment (principal, interest, taxes, special assessments and insurance premium) shall constitute a default. The arrangements provided for in this sub - paragraph are for the added protection of the Beneficiary, and entail no responsibility on the part of the Beneficiary. VI. Neither conveyance or transfer of said Property, nor assignment of this instrument shall be made without the written consent of Beneficiary. VII. Trustor covenants and agrees that a failure to make any payment of either principal or interest on the note secured hereby when due and payable, or a failure to comply with any of the covenants and agreements herein made shall cause the whole sum of money hereby secured to become due and collectible at once at the option of the Beneficiary, and Beneficiary shall have the right to cause Notice of Default to be given and the Property to be sold as provided herein. 3. TRUSTEE CONSENT. At any time, and from time to time; upon written request of Beneficiary; the payment of fees and presentation of this Trust Deed and note for endorsement (in case of full reconveyance, for cancellation and retention), and without affecting the liability of any person for the payment of the indebtedness, Trustee may (a) consent to the making of any map or plat of said property; (b) join in any subordination or other agreement affecting this Trust Deed or the lien or change thereof; (c) reconvey, without warranty, all or any part of said property. 4. IDENTITY; RECONVEYANCE. The grantee in any reconveyance may be described as the person or persons entitled thereto ", and the recitals therein of any matters or facts shall be conclusive proof of the truthfulness thereof. 5. DEFAULT. Upon default by Trustor in the payment of any indebtedness secured hereby or in the performance of any agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to Trustee of written declaration of default. If Beneficiary desires said property to be sold, it shall deposit with Trustee this Trust Deed and all promissory notes and documents evidencing expenditures secured hereby, and shall deliver to Trustee a written notice of default and election to cause said property to be sold in the form required by law, which shall be duly filed for