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200403663 3. Insurance. Trustor shall carry general liability insurance with minimum limits of $1,000,000.00. Trustor shall furnish Beneficiary a certificate of insurance coverage at Beneficiary's request, with a provision in such certificate that the insurer shall provide Beneficiary 10 days advance notice of cancellation of the policy at any time for any reason, or of expiration of the policy without renewal thereof. 4. Environmental Compliance. Trustor shall comply with all federal, state and local environmental laws, ordinances, rules, requirements, regulations and publications as now existing or hereafter existing, amended, supplemented or supplanted relating to the preservation of the environment or the regulation or control of toxic or hazardous substances or materials. 5. Use & Preservation of Property. Trustor shall use the premises to construct thereon a single family dwelling and shall not allow the Property to deteriorate, or commit or permit waste. Trustor shall comply with all laws and regulations applicable to the use of the Property, and shall maintain the improvements thereon in good repair. 6. Protection of Trust Property. If Trustor fails to pay taxes or assessments, maintain insurance or maintain the Property as provided herein, Beneficiary may pay any such amounts or take steps to protect the value of the Property and the rights of Beneficiary in the Property. Any sums Beneficiary may advance for payment of any such taxes or assessments, maintenance and protection of the Property shall be secured by this Trust Deed, shall constitute a debt due from Trustor to Beneficiary, and shall bear interest from the date of disbursement until paid at the rate of 14% per annum. 7. Application of Payments. All payments received by Beneficiary under the Trust Deed Note and this agreement shall be applied first to reimburse advancements made by Beneficiary for protection of trust property, second to costs of enforcement and collection, if any, and to the extent allowed by law, then to accrued interest, and then to principal. 8. Inspection. Beneficiary or Beneficiary's agents may make reasonable entries on the Property for purposes of inspection. 9. Forbearance Not Waiver. Failure by Beneficiary to exercise any right or remedy available under this Trust Deed or the Promissory Note on any one default shall not waive or preclude the exercise of any right or remedy on the event of any subsequent default. 10. Eminent Domain. Should the Property or any part thereof or interest therein be taken or damaged by reason of any taking by right or eminent domain, condemnation proceeding, or in any other manner, including a deed in lieu of condemnation, or should Trustor receive any notice or any other information regarding such proceeding, Trustor shall give prompt written notice thereof to Beneficiary. The parties shall reach mutual agreement as to the receipt of any 4 I