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200112868
<br />or advanced by Lender, or may otherwise be due to Trustee or Lender under any provision of this
<br />Instrument.
<br />(3) Performance of each agreement of Trustor contained herein or incorporated herein by
<br />reference or contained in any other agreements or covenants executed by Trustor and/or Borrowers
<br />relating to the loan secured hereby, including any other deed of trust, mortgage, security agreement and
<br />assignments of rents (together with the Note and this Instrument, the "Loan Documents ").
<br />(4) Performance by Trustor of each and every monetary obligation to be performed by
<br />Trustor under any recorded covenants, conditions and restrictions pertaining to the Property.
<br />(5) At Lender's option, payment with interest thereon, of any other present or future
<br />indebtedness or obligation of Borrowers (or of any successor in interest of Borrowers to such Property)
<br />owing to Lender, whether created directly or acquired by absolute or contingent assignment, whether due
<br />or not, whether otherwise secured or not, or whether existing at the time of the execution of this
<br />Instrument or arising thereafter, the exercise of such option to be evidenced by a notice in writing to
<br />Borrowers or any successor in interest to Borrowers.
<br />(6) Performance of all agreements of Borrowers to pay fees and charges to the Lender
<br />relating to the Loan secured hereby.
<br />(7) Full and timely performance of each agreement of any Borrower contained in any Deed
<br />of Trust, Mortgage, Security Agreement, Assignment of Rents or contained in any other instrument,
<br />agreement or covenant executed by any Borrower or Borrowers relating to the Note and the other Loan
<br />Documents.
<br />Trustor covenants that Trustor is lawfully seized of the estate hereby conveyed and has the right
<br />to grant, convey, transfer and assign the Property to the Trustee and that Trustor will warrant and defend
<br />generally the title to the Property against all claims and demands, except for liens, easements and
<br />restrictions which are shown as prior to the lien created by this Instrument in a schedule of exceptions to
<br />coverage in any title policy insuring Lender's lien on the Property created by this Instrument.
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS
<br />AND AGREES AS FOLLOWS:
<br />1. PAYMENT OF PRINCIPAL AND INTEREST. Borrowers shall pay when due the
<br />principal of and interest on the indebtedness evidenced by the Note, any prepayment and late charges
<br />provided in the Note and all other sums secured by this Instrument.
<br />2. PAYMENT OF TAXES. Trustor shall pay each installment of all taxes and special
<br />assessments of every kind, now or hereafter levied against the Property or any part thereof, before
<br />delinquency, without notice or demand and shall promptly furnish to Lendor receipts evidencing such
<br />payment. Trustor shall pay all taxes and assessments which may be levied upon Lender's interest herein
<br />or upon this Deed of Trust or the debt secured hereby, without regard to any law that may be enacted
<br />imposing payment of the whole or any part thereof upon the Lender.
<br />Failure to pay such taxes and special assessments prior to delinquency and to provide to Lender
<br />prompt proof of such payment shall be a default under this Instrument and the Loan Documents. In the
<br />event Trustor fails to pay all taxes and special assessments prior to delinquency, Lender, at Lender's
<br />option, may pay for such items and such amounts shall be immediately due to Lender from Trustor,
<br />together with interest thereon, at the rate of sixteen percent (16 %) per annum.
<br />3. APPLICATION OF PAYMENTS. Unless applicable law requires otherwise, all
<br />payments received by Lender from Borrowers under the Note or this Instrument shall be applied by
<br />Lender in the order of priority as determined by Lender in its reasonable discretion.
<br />4. CHARGES; LIENS. Trustor shall promptly discharge any lien which has, or may have,
<br />priority over or equality with, the lien of this Instrument, and Trustor shall pay, when due, the claims of
<br />all persons supplying labor or materials to or in connection with the Property. Without Lender's prior
<br />written consent, which may be withheld in Lender's sole and absolute discretion (unless specifically
<br />provided to the contrary in this Instrument), Trustor will not permit or allow any lien inferior to this
<br />Instrument to be perfected against the Property.
<br />5. HAZARD INSURANCE. Trustor shall keep the improvements now existing or
<br />hereafter erected on the Property insured by carriers at all times satisfactory to Lender against loss by fire,
<br />hazards included within the term "extended coverage ", and such other hazards, casualties, liabilities and
<br />contingencies as Lender shall require, and in such amounts and for such periods as Lender shall require.
<br />During the course of any construction or restoration of the improvements Trustor shall obtain, at its own
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