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200206622 TO HAVE AND TO HOLD the Premises and all parts thereof, for the purposes set forth herein, subject to the terms, conditions and provisions hereof. 2.02 Warranty of Title. Grantor covenants that Grantor is lawfully seized and possessed of the Premises in fee simple; that Trustee shall have quiet possession of the Premises; and that Grantor has good right to convey the same and that the same is unencumbered except for the Permitted Encumbrances. Grantor will forever defend the title to the Premises against the claims of all persons whomsoever, except as to the Permitted Encumbrances. 2.03 Defeasance. If the Company shall promptly pay or cause to be paid the Obligations secured hereby in accordance with the terms thereof when the same shall become due and payable and shall keep, perform and observe all the terms, conditions and requirements of the Credit Agreement, of the other Transaction Documents and of this Instrument, then, upon complete payment and satisfaction thereof and cancellation in writing by Beneficiary of the Credit Agreement and the Notes, this Instrument shall be null and void and of no further force and effect and shall be released by Beneficiary and the Trustee upon the written request and at the expense of Grantor. ARTICLE III COVENANTS OF GRANTOR 3.01 Payment of Indebtedness. Grantor will pay and perform all of the Obligations in accordance with their terms. 3.02 Taxes Liens and Other Charges. 3.02.01 In the event of the passage of any state, federal, municipal or other governmental law, order, rule or regulation, subsequent to the date hereof, in any manner changing or modifying the laws now in force governing the taxation of debts secured by mortgages, deeds of trust or acts of mortgage or the manner of collecting taxes so as to adversely affect Beneficiary, Grantor will promptly pay any such tax. If Grantor fails to make such prompt payment or if, in the opinion of Beneficiary, any such state, federal, municipal, or other governmental law, order, rule or regulation prohibits Grantor from making such payment or would penalize Beneficiary if Grantor makes such payment or if, in the opinion of Beneficiary, the making of such payment would result in the imposition of interest beyond the maximum amount permitted by applicable law, then the entire Obligations shall, at the option of Beneficiary, become immediately due and payable. 3.02.02 Grantor will pay, before the same become delinquent, all taxes, liens, assessments and charges of every character including all utility charges, whether public or private, already levied or assessed or that may hereafter be levied or assessed upon or against the Premises; and upon demand will furnish Beneficiary receipted bills evidencing such payment. 3.02.03 Grantor will not suffer any mechanic's, materialman's, laborer's, statutory or other lien to be created and to remain outstanding upon all or any part of the Premises, except for inchoate liens securing obligations not yet due and payable. ME