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n., 200505475 (a) Once executed and delivered, this Deed of Trust and the Note will constitute legal and binding obligations of Trustors and be enforceable against Trustors in accordance with their respective terms; (b) Trustors are the legal and equitable owners of and are in possession of all the Trust Estate and the Trust Estate is free and clear of all liens, encumbrances, security interests, charges, adverse claims and encumbrances of every kind and nature, except easements, restrictions and covenants of record, and Trustors shall and will warrant and defend the title to said Trust Estate against the claims of all persons whomsoever; (d) There are no (i) bankruptcy proceedings involving Trustors and none is contemplated; (ii) dissolution proceedings involving Trustors and none is contemplated; (iii) unsatisfied judgments of record against Trustors; or (iv) tax liens filed against Trustors; and (e) Trustors have good and lawful authority to pledge, assign and deliver the Trust Estate in the manner contemplated herein. The foregoing representations and warranties are in addition to the representations and warranties of Trustors in the Note, each of which are deemed to have been made by Trustors herein at and as of the date thereof and are incorporated herein by this reference as though made hereunder on and as of such date, and all of such representations and warranties shall survive the closing of the transaction and execution and delivery of this Deed of Trust. 3. Covenants of Trustors. Trustors hereby covenants and agrees as follows: (a) to pay when due the principal of, and the interest on, the indebtedness evidenced by the Note, and all charges, fees, and sums as provided in the Loan Instruments; (b) to observe and promptly perform and discharge all obligations, terms, covenants, understandings, conditions or agreements required to be performed or observed by Trustors pursuant to the Loan Instruments; (c) except as otherwise permitted herein, to not permit any lien, encumbrance, security interest or adverse claim to attach to the Trust Estate, or any portion thereof; (d) maintain the Trust Estate in tenantable condition and promptly perform all repairs, replacements and maintenance necessary to preserve the Trust Estate; (e) comply with all applicable federal, state and local laws, regulations and ordinances applicable to the use or occupancy of the Trust Estate, including all environmental laws and regulations; (t] to not cause, conduct or permit any nuisance or commit, permit or suffer any waste on or to the Trust Estate or any portion of the Trust Estate; (g) to not demolish or remove any improvements to the Trust Estate without the prior written consent of the Beneficiary. The foregoing covenants are in addition to the covenants of the Trustors in the Note, each of which shall be deemed to have been made by Trustors herein at and as of the date hereof and as though made hereunder on and as of such date, and all of such covenants shall survive the closing of the transaction and the execution and delivery of this Deed of Trust. Upon twenty -four (24) hours notice, Beneficiary and Beneficiary's agents or representatives shall have the right to enter upon the Trust Estate at reasonable times L0648853.2 -2-