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2022 ) 2 3 3 y THIS CONVEYANCE IS GIVEN FOR THE PURPOSE OF SECURING: a. Payment of the principal sum of Seven Hundred Thousand and No/100 Dollars ($700,000.00) evidenced by that certain Secured Promissory Note (the "Note") dated effective January 31, 2022, executed by Trustor in favor of Beneficiary, which by this reference is made a part hereof, together with interest thereon, and any late charges, prepayment penalties, any future advances, and all extensions, modifications, substitutions and renewals thereof, and b. Payment of all sums advanced by Beneficiary for any reason to protect the Trust Estate. This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and performance of any obligation secured hereby are referred to collectively as the "Loan Documents." TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS AND AGREES AS FOLLOWS: 1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal and interest of the indebtedness evidenced by the Note, charges, fees and all other sums as provided in the Loan Documents. 2. TAXES. Trustor shall pay each installment of all real estate 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 proof of payment to Beneficiary. Trustor shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or any part thereof upon the Beneficiary. In the event Trustor fails to timely pay said property taxes and assessments, Beneficiary, at Beneficiary's option, may pay for such items and such amounts shall be immediately due to Beneficiary from Trustor, together with interest thereon, at the rate of sixteen percent (16%) per annum. 3. INSURANCE. Trustor shall maintain property 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, including all extensions or modifications thereof. 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. A current certificate showing proof of such insurance shall be provided to Beneficiary at all times. In the event Trustor fails to timely pay for such insurance, Beneficiary, at Beneficiary's option, may pay for such items and such amounts shall be immediately due to Beneficiary from Trustor, together with interest thereon, at the rate of sixteen percent (16%) per annum. 4. REPAIRS. 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 Trustor commit waste on or to the Trust Estate. Trustor shall pay when due all claims for labor performed on or materials furnished to the Trust Estate, and shall comply with all laws affecting the property or requiring any alterations or improvements to be made thereon. 5. ACTIONS AFFECTING TRUST ESTATE. Trustor shall appear in and contest any action or proceeding purporting to affect the security thereof 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 2