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200300601
<br />2. All payments received by Lender shall be first applied to advances which may
<br />have been made by Lender and then to interest due and last to principal due.
<br />;. 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 against loss by
<br />fire and hazards included with the term "extended coverage" for their insurable value and
<br />policies for the same shall include a standard mortgage clause showing Lender herein. In
<br />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,
<br />unless both parties otherwise agree, except if restoration or repair is not economically
<br />feasible or Lender's security is not lessened, otherwise said proceeds shall be paid on the
<br />debt herein, whether or not then due.
<br />Unless Lender and Borrower otherwise agree in writing, any payments or pro-
<br />ceeds from insurance shall not extend or postpone the due date of the monthly payments
<br />provided in said instrument of indebtedness, or change the amount of the payments.
<br />5. 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
<br />not commit or permit any waste or deterioration of the real estate hereinabove described,
<br />shall not remove, demolish or substantially alter any of the improvements on the
<br />Property; shall not commit, suffer or permit any net to be done in or upon the Property in
<br />violation of any law, ordinance or regulation; and shall promptly discharge at Borrower's
<br />cost and expense all liens, encumbrances and charges levied, imposed or assessed against
<br />the described real estate or any part thereof.
<br />6. 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
<br />Property free from all substances deemed to be hazardous or toxic under any
<br />Environmental Laws (collectively referred to herein as "Hazardous Materials ").
<br />Borrower hereby warrants and represents to Lender that there are no Hazardous Materials
<br />on or under the Property. Borrower hereby agrees to indemnify and hold harmless
<br />Lender, its directors, officers, employees and agents, and any successors to Lender's
<br />interest, from and against any and all claims, damages, losses and liabilities arising in
<br />connection with the presence, use disposal or transport of any Hazardous Materials on,
<br />under, from or about the Property. THE FOREGOING WARRANTIES AND
<br />REPRESENTATION, AND BORROWER'S OBLIGATIONS PURSUANT TO THE
<br />FOREGOING INDEMNITY, SIIALL SURVIVE RECONVEYANCE OF THIS DEED
<br />OF TRUST.
<br />7. Borrower shall not sell, transfer, assign, convey or further encumber all or any
<br />part of or any interest in die Property hereinabove described, either voluntarily or
<br />involuntarily, without the express prior written consent of Lender or as otherwise herein
<br />permitted, and in the event of any such sale, transfer, assignment, conveyance or transfer
<br />in violation of this provision, Lender shall have the option to declare all sums secured
<br />hereby immediately due and payable.
<br />8. 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
<br />Lender's rights in the Property, including the paying of any sum secured by a lien which
<br />has priority over this Deed of Trust, appearing in Court, paying reasonable attorney fees
<br />and entering the Property to make repairs. Any amount disbursed by Lender under this
<br />paragraph shall become an additional debt of Borrower secured by this Deed of Trust, to
<br />bear interest from the date of disbursement and said amount, together with the then
<br />unpaid principal amount, shall bear interest at the highest lawful rate until refunded by
<br />Borrower.
<br />9. The proceeds of an condemnation award are hereby assigned and shall be paid
<br />to Lender and shall be applied to the sums secured by this Deed of Trust, whether or not
<br />then due, with any excess to be paid to Borrower.
<br />10. Any extensions or modifications of the loan granted by Lender to any succes-
<br />sor in interest of Borrower shall not operate to release the liability of the original Bor-
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