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200109056 1.03 Organization; Standing. Grantor is a limited partnership validly organized and existing under the laws of the State of Indiana. Grantor has the power to own the Property, to carry on its affairs as currently conducted and perform all of the Obligations. 1.04 Power; Authority. The undersigned has full power and authority on behalf of the Grantor to execute this Deed of Trust, and all other instruments evidencing the Obligations, and the execution and delivery thereof have been duly authorized and all acts and proceedings necessary or proper in the premises have been duly done, performed and taken. 1.05 Location of Improvements. All Improvements now or hereafter located on the Premises are and will be located entirely within the boundaries of the Premises. 1.06 Compliance with Law, etc. The Property and the present and proposed use thereof complies with all applicable zoning, building, environmental use, all federal, state and local laws and regulations, and all covenants, restrictions and easements of record. There is no action or proceeding pending before any court, quasi-judicial body or administrative agency which may affect the validity or enforceability of this Deed of Trust or the Obligations. 1.07 Information True and Correct. All financial data and documentation delivered by or on behalf of Grantor to Grantee are true and correct in all material respects, and not misleading, and Grantor has not omitted or failed to provide anything the omission of which would cause any such data or documentation to be misleading. 1.08 Hazardous Waste. To the best of Grantor's knowledge, the Property is free from all Hazardous Waste, as defined hereinafter, except as disclosed in an environmental study prepared by Geotechnical Services, Inc. dated May 16, 2001, Project Number 015832. No condition exists in or on the Property that could give rise to any claim, charge or lien against the Property for the removal of such Hazardous Waste or damages attributable thereto or that is or may be a lien on the Property. SECTION 2. COVENANTS. Grantor hereby expressly covenants and agrees with Grantee that so long as any of the Obligations are outstanding and in effect and until this Deed of Trust shall be released by the Grantor, it shall: 2.01 Payment'of Principal and Interest. Duly pay the Obligations punctually as and when the same shall become due and payable according to the true intent and purport thereof. 2.02 Transfer of Title: Liens. Without the prior written consent of Grantee, and regardless of whether voluntary or involuntary, not transfer, convey, contract for deed or otherwise part with title to the Property, or create or permit or allow to exist or to be created any mortgage, deed of trust, pledge or other lien or encumbrance on any said Property, other than (i) this Deed of Trust, (ii) the lien to LaSalle Bank National Association, Trustee and (iii) a junior deed of trust in favor of Pedcor Investments, A Limited Liability Company, in the amount not to exceed $500,000.00 , and Grantor will not suffer or permit any mechanic's or materialmen's lien or any other lien of any nature whatsoever to attach to any of said Property or to remain outstanding against the same or any part thereof but the foregoing shall not 4