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200411739 TRUSTOR COVENANTS AND AGREES WITH LENDER AS FOLLOWS: 1) moment of Indebtedness. All indebtedness secured hereby shall be paid when due. 2) JilLe. Truster is the owner of the Property, has the right and authority to convey the Property and warrants that the lien created hereby is a first and prior lien on the Property and the execution and delivery of the Deed of Trust does not violate any contract or other obligation to which Tmstor is subject. 3) Taxes Assessments. To pay, before delinquent, all taxes, special assessments and all other charges against the Property now or hereafter levied. 4) Insurance. To keep the Property insured against damage by fire hazards included with the term "extended coverage" and such other hazards as Lender may require in amounts and with companies acceptable to Lender, naming Lender as an additional named insured with loss payable to the Lender. In case of loss under such policies, the Lender is authorized to adjust, collect and compromise all claims thereunder and shall have the option of applying all or pan of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Lender may determine (ii) to the Tmstor to be used for the repair or restoration of the Property, or (iii) for any other purpose or object satisfactory to Lender without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place. Any application of proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. 5) Escro w. Upon written demand by Lender, Tmstor shall pay to Lender, in such manner as Lender may designate, sufficient sums to enable Lender to pay as they become due one or more of the following: (i) all taxes, assessments and other charges against the Property: (ii) the premiums on the property insurance required hereunder, and (iii) the premiums on any mortgage insurance required by Lender. 6) Maintenance, Repairs and Compliance with Laws. Tmstor shall keep the Property in good condition and repair; shall promptly repair, or replace, any improvement which may be damaged or destroyed; shall not commit or permit any waste or deterioration of the Property; shall not remove, demolish or substantially alter any of the improvements on the Property; shall not commit, suffer or permit any act to be done in or upon the Property in violation of any law, ordinance or regulation; and shall promptly discharge at Tmslor's cost and expense all liens, encumbrances and charges levied, imposed or assessed against the Property or any part thereof. 7) Eminent Domain. Lender is hereby assigned all compensation, awards, damages and other payments or relief (hereinafter "Proceeds ") in connection with condemnation or other taking of the Property or part thereof, or for conveyance in lieu of condemnation. Lender shall be entitled at its option to commence, appear in and prosecute in its own name any action or proceedings, and shall also be entitled to make any compromise or settlement in connection with such taking or damage. In the event any portion of the Property is so taken or damaged, Lender shall have the option, it its sole and absolute discretion, to apply all such Proceeds, after deducting therefrom all costs and expenses incurred by it in connection with such Proceeds, upon any indebtedness secured hereby and in such order as Lender may determine, or to apply all such Proceeds, after such deductions, to the restoration of the Property upon such conditions as Lender may determine. Any application of Proceeds to indebtedness shall not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. Any unapplied funds shall be paid to Tmstor. 8) Performance by Lendcr. Upon the occurrence of an Event of Default hereunder, or if any act is taken or legal proceeding commenced, which materially affects Lender's interest in the Property, Lender may in its own discretion, but without obligation to do so, and without notice to or demand upon Tmstor and without releasing Tmstor from any obligation, do any act which Tmstor has agreed but fails to do and may also do any other act it deems necessary to protect the security hereof. Tmstor shall, immediately upon demand therefor by Lender, pay to Lender all costs and expenses incurred and sums expended by Lender in connection with the exercise by Lender of the foregoing rights, together with interest thereon at the default rate provided in the Note, which shall be 2 to doc8.doc