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202305127
<br />2. All payments received by Lender shall be first applied to advances that may have
<br />been made by Lender, and then to principal due.
<br />3. Borrower shall pay all general real estate taxes and special assessments against
<br />the Property before the same become delinquent.
<br />4. Borrower shall keep the improvements on said Property insured for their insurable
<br />value against loss by fire and hazards included with the term "extended coverage", and policies
<br />for the same shall include a standard mortgage clause showing Lender herein as an additional
<br />loss payee. In event of loss, Lender may make proof of loss if not promptly made by Borrower.
<br />Insurance proceeds shall be applied to restoration or repair of the Property damaged, unless both
<br />parties otherwise agree, except if restoration or repair is not economically feasible, or if Lender's
<br />security is not lessened; otherwise, said proceeds shall be paid on the Debt herein, whether or not
<br />then due.
<br />Unless Lender and Borrower otherwise agree in writing, any payments or proceeds from
<br />insurance shall not extend or postpone the due date of the monthly payments provided in said
<br />Note, or change the amount of the payments.
<br />5. Upon written demand by Lender, Borrower shall pay to Lender, in such manner
<br />as Lender may designate, sufficient sums to enable Lender to pay as they become due one or
<br />more of the following: (a) all taxes, assessments, and other charges against the Property; (b) the
<br />premiums on the property insurance required hereunder, and (c) the premiums on any mortgage
<br />insurance required by Lender.
<br />6. Borrower shall keep the described Property in good condition and repair; shall
<br />promptly repair or replace any improvement which may be damaged or destroyed; shall be
<br />permitted to repair or replace any improvement(s) situated on the Property and shall be permitted
<br />to construct additional improvement(s) on the Property in Borrower's discretion; shall not
<br />commit or permit any waste or deterioration of the real estate hereinabove described; shall not
<br />commit, suffer, or permit any act to be done in or upon the Property in violation of any law,
<br />ordinance, or regulation; and shall promptly discharge at Borrower's cost and expense all liens,
<br />encumbrances, and charges levied, imposed, or assessed against the described real estate or any
<br />part thereof.
<br />7. Borrower shall keep the Property in compliance with all applicable laws,
<br />ordinances, and regulations relating to industrial hygiene or environmental protection
<br />(collectively referred to herein as "Environmental Laws"). Borrower shall keep the Property free
<br />from all substances deemed to be hazardous or toxic under any Environmental Laws
<br />(collectively referred to herein as "Hazardous Materials"). Borrower hereby warrants and
<br />represents to Lender that there are no Hazardous Materials on or under the Property. THE
<br />BORROWER'S FOREGOING WARRANTIES AND REPRESENTATION SHALL SURVIVE
<br />RECONVEYANCE OF THIS DEED OF TRUST.
<br />8. Borrower shall not sell, transfer, assign, or convey all or any part of or any
<br />interest in the Property hereinabove described, either voluntarily or involuntarily, without the
<br />express prior written consent of Lender, or as otherwise herein permitted; and in the event of any
<br />such sale, transfer, assignment, conveyance, or transfer in violation of this provision, Lender
<br />shall have the option to declare all sums secured hereby immediately due and payable.
<br />9. In the event of a Change in Control (as hereafter defined), then the entire
<br />principal sum and accrued interest shall at once become due and payable at the election
<br />of the Holder hereof. For purposes of this Section 9: (a) a "Change of Control" shall
<br />mean any transaction or series of related transactions in which in excess of fifty percent
<br />(50%) of the then issued and outstanding voting shares of common stock of the Maker
<br />are transferred to any Person who is not a shareholder of the Maker at the time the
<br />transaction is entered into; and (b) a "Person" shall mean an individual, corporation,
<br />business trust, estate, trust, partnership, limited liability company, association, joint
<br />venture, or any other legal or commercial entity.
<br />10. If Borrower fails to perform the covenants and agreements herein contained,
<br />Lender may do and pay for whatever is necessary to protect the value of the property and
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