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202204758 The Property and the entire estate and interest conveyed to the Trustee are referred to collectively as the "Trust Estate". THIS DEED OF TRUST SECURES: (a) Payment of indebtedness in the total principal amount of $2,344,130.00, with interest thereon, as evidenced by and according to that certain Promissory Note dated of even date herewith (the "Note"), having a maturity date of the earlier of June 1, 2027, or the death of the Maker, executed by Trustor, as Maker, and payable to the order of Beneficiary, as Holder, and which Note and any and all modifications, extensions and renewals thereof by this reference are incorporated in this Deed of Trust, and (b) Payment of all sums advanced by Beneficiary to protect the Trust Estate with interest thereon at the Note Rate set forth in the Note until the date of maturity, or until the occurrence of an Event of Default as defined herein, after which interest shall be at the Default Rate as set forth in the Note. This Deed of Trust, the Note, and any other instrument given to evidence or further secure the payment and performance of the Note and the payment and performance of any obligation secured hereby are referred to collectively as the "Security Instruments" (as defined in the Note). TO PROTECT THE SECURITY OF THIS DEED OF TRUST: 1. PAYMENT OF INDEBTEDNESS. Trustor shall pay when due the principal of, and the interest on, the indebtedness evidenced by the Note, and all charges, fees and all other sums required by the Security Instruments. Except as otherwise expressly stated herein, all such payments shall be applied first to sums advanced by Beneficiary, next to late charges, next to accrued interest, and the balance, if any, of any payment shall be applied in reduction of the principal balance of the Note. 2. TITLE. Trustor has good and marketable title to the Property free and clear of any liens and claims, hereto subject to any encumbrances of record. Trustor will preserve and defend such title to the Property against claims that would impair the lien of this Deed of Trust. 3. TAXES. 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. Notwithstanding the foregoing, nothing in this Deed of Trust shall act or be construed to obligate Trustor to pay special assessments on the Property before they become delinquent. 4. INSURANCE. Trustor shall procure and maintain in force, at Trustor's expense, insurance against loss to any and all improvements situated on the Trust Estate by fire or other casualties, including extended coverage insurance, in an amount not less than the value of any such improvements. Such insurance shall contain a lender's loss payable endorsement in favor of Beneficiary. Upon request, Trustor will provide Beneficiary with a certificate of insurance and endorsements which confirms the coverages required in this paragraph. Such insurance policy 2