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0200489'7 TRUSTOR AND BENEFICIARY AGREE AS FOLLOWS: 1. Payment of Indebtedness. Trustor shall pay when due the principal of Forty -Nine Thousand Dollars ($47,700.00), as evidenced by and in accordance with the Note. 2. Application of Payments. Payments by Trustor to Beneficiary shall be first applied to interest due in accordance with the Note and then to principal due. 3. Taxes and Assessments. Trustor shall pay each installment of all taxes and special assessments of every kind, now or hereafter levied against the Trust Estate or any part thereof, before delinquency, without notice or demand, and shall provide Beneficiary with evidence of the payment of same forthwith upon payment. 4. Insurance and Repairs. Trustor shall maintain fire and extended coverage insurance insuring the improvements and buildings constituting part of the Trust Estate for an amount no less than the amount of the unpaid principal balance of the Note (co-insurance not exceeding 80% permitted). Such insurance policy shall contain a standard mortgage clause in favor of Beneficiary and shall not be cancelable, terminable or modifiable without ten (10) days prior written notice to Beneficiary. Trustor shall promptly repair, maintain and replace the Trust Estate or any part thereof so that, except for ordinary wear and tear, the Trust Estate shall not deteriorate. In no event shall the Trustor commit waste on or to the Trust Estate. Unless Beneficiary otherwise agrees in writing, any payments or proceeds from insurance shall not extend or postpone the due date of the payments provided in the Note, or change the amount of the payments. 5. Actions Affecting the Trust Estate. Trustor shall appear in and contest any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of title and attorney's fees, in any such action or proceeding in which Beneficiary or Trustee may appear. Should Trustor fail to make any payment or to do any act as and in the manner provided in this Deed of Trust or the Note, Beneficiary and/or Trustee, each in its own discretion, without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from any obligation, may make or do the same in such manner and to such extent as either may deem necessary to protect the security hereof. Trustor shall, immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection with the exercise by Beneficiary of the foregoing right, including without limitation costs of evidence of title, court costs, appraisals, surveys and attorney's fees. Any such costs and expenses not paid within ten days of written demand shall draw interest at the default rate provided in the Note. 6. Failure to Perform. If Trustor fails to perform the covenants and agreements herein contained, Beneficiary may do and pay for whatever is necessary to protect the value of the property and Beneficiary's rights in the property, including the