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elect:
<br />202006555
<br />or private, tenements, hereditaments, rights and appurtenances, now or
<br />hereafter used in connection with, belonging or appertaining to, the Property;
<br />(F) All proceeds (including claims and demands therefor) of the conversion,
<br />voluntary or involuntary, of any of the foregoing into cash or liquidated claims,
<br />including, without limitation, proceeds of insurance and condemnation awards;
<br />and
<br />FOR THE PURPOSE OF SECURING, in such order of priority as Beneficiary may
<br />(1) Due, prompt and complete observance, performance and discharge of
<br />each and every obligation, covenant and agreement contained in the Secured
<br />Promissory Note between SBRSW, LLC and Beneficiary dated 6/25/2020 in the
<br />original principal amount of Eighteen thousand and 00/100 (the "Note")
<br />including, without limitation, all obligations evidenced by the Note as defined
<br />therein, to Beneficiary; and any and all modifications, substitutions, extensions
<br />or renewals of the Note and whether the entire amounts shall have been repaid
<br />in part and;
<br />(2) Due, prompt and complete observance, performance and discharge of
<br />each and every obligation, covenant and agreement of Trustor contained herein;
<br />and
<br />(3) Due, prompt, and complete observance, performance, and discharge of
<br />each and every obligation, covnenat, and agreement contained in the Guaranty
<br />executed herewith by Trustor in favor of Beneficiary; and payment of any other
<br />or further indebtedness at any time owing by Trustor to Beneficiary however the
<br />same may be incurred, and in whatever form it may be, whether contingent or
<br />represented by notes, judgments, or otherwise, and all interest thereon.
<br />(4) Due, prompt and complete observance, performance and discharge of
<br />each and every obligation, including payment obligations, covenant and
<br />agreement contained in the Note, Loan Agreement of even date herewith, Security
<br />Agreement and Financing Statement dated June 25, 2020; Deed of Trust dated
<br />June 25, 2020, or this Deed of Trust.
<br />The foregoing debts and obligations are hereinafter collectively referred to as the
<br />"Obligations").
<br />ARTICLE I
<br />COVENANTS
<br />Trustor covenants, warrants, represents and agrees to and with Beneficiary and
<br />Trustee as follows:
<br />1.01 Payment of Principal and Interest. Trustor will pay the Obligations
<br />according to the terms thereof.
<br />1.02 Warranty of Title. Trustor owns fee simple title to the Property and is
<br />lawfully seized of the Property hereby conveyed, has the right to grant and convey the
<br />Property, and has good and marketable title to the Property subject to no lien, charge
<br />or encumbrance—except for any such liens or encumbrances disclosed to Beneficiary
<br />in writing; Trustor owns the Fixtures free and clear of liens and claims, except as
<br />permitted under this Deed of Trust; and this Deed of Trust is and will remain a valid
<br />and enforceable lien on the Property subject only to the exceptions referred to below.
<br />Trustor represents and warrants that Trustor has full power and lawful authority to
<br />grant, assign, transfer and mortgage its interest in the Property in the manner and form
<br />hereby done or intended. Trustor will preserve its interest in and title to the Property
<br />and will forever warrant and defend the same to Trustee and will forever warrant and
<br />defend the validity and priority of the lien hereof against the claims of all persons and
<br />parties whomsoever. Trustor shall promptly and completely observe, perform, and
<br />3
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