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<br />(1) Due, prompt and complete observance, performance and discharge of each and
<br />every obligation, covenant and agreement contained in the Term Loan Note between
<br />Trustor and Beneficiary dated September 23, 2022 in the original principal amount of
<br />$100,000.00. (One Hundred Thousand and no/100 Dollars) (the "Note") including,
<br />without limitation, all obligations evidenced by the Note as defined therein, to
<br />Beneficiary; and any and all modifications, substitutions, extensions or renewals of the
<br />Note and whether the entire amounts shall have been repaid in part and;
<br />(2) Due, prompt and complete observance, performance and discharge of each and
<br />every obligation, covenant and agreement of Trustor contained herein; and
<br />(3) Payment of any other or further indebtedness at any time owing by Trustor to
<br />Beneficiary however the same may be incurred, and in whatever form it may be, whether
<br />contingent or represented by notes, judgments, or otherwise, and all interest thereon.
<br />(4) Due, prompt and complete observance, performance and discharge of each and
<br />every obligation, including payment obligations, covenant and agreement contained in
<br />the Note, Loan Agreement of even date herewith.
<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 Trustee
<br />as follows:
<br />1.01 Payment of Principal and Interest. Trustor will pay the Obligations according to
<br />the terms thereof.
<br />1.02 Warranty of Title. Trustor owns fee simple title to the Property and is lawfully
<br />seized of the Property hereby conveyed, has the right to grant and convey the Property,
<br />and has good and marketable title to the Property subject to no lien, charge or
<br />encumbrance—except for any such liens or encumbrances disclosed to Beneficiary in
<br />writing; Trustor owns the Fixtures free and clear of liens and claims, except as permitted
<br />under this Deed of Trust; and this Deed of Trust is and will remain a valid and
<br />enforceable lien on the Property subject only to the exceptions referred to below. Trustor
<br />represents and warrants that Trustor has full power and lawful authority to grant,
<br />assign, transfer and mortgage its interest in the Property in the manner and form hereby
<br />done or intended. Trustor will preserve its interest in and title to the Property and will
<br />forever warrant and defend the same to Trustee and will forever warrant and defend the
<br />validity and priority of the lien hereof against the claims of all persons and parties
<br />whomsoever. Trustor shall promptly and completely observe, perform, and discharge
<br />as and when due each and every obligation, covenant and agreement affecting the
<br />Property whether the same is prior and superior or subject and subordinate hereto.
<br />1.03 Further Assurances. Trustor shall, at its own cost and without expense to
<br />Trustee or Beneficiary, promptly execute, acknowledge and deliver, or cause to be
<br />executed, acknowledged and delivered, any and all such further conveyances,
<br />confirmations, instruments or further assurances and consents as Beneficiary may
<br />deem reasonably necessary or proper in order to effectuate, perfect, evidence or protect
<br />the liens, covenants and agreements created by or contained in this Deed of Trust and
<br />shall cause to be timely and properly filed, registered or recorded any existing
<br />documents or instruments of further assurance necessary to fully protect the lien of this
<br />Deed of Trust.
<br />1.04 Taxes, Assessments, and Charges.
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