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200602198 instruments and documents as in the opinion of the Beneficiary are necessary or desirable to preserve the lien created hereby. If Grantor shall fail or refuse to execute, acknowledge, where appropriate, and deliver such instruments and documents to preserve the first priority lien created hereby within 10 Business Days following a written request by Beneficiary, Grantor irrevocably constitutes and appoints Beneficiary as its attorney- in -fact to execute and deliver such instruments, it being stipulated that such power of attorney is coupled with an interest and is irrevocable and binding. Section 1.22. Performance of Covenants. The Grantor shall faithfully perform at all times any and all covenants, undertakings, stipulations and provisions contained in the Financing Documents and in all of its proceedings pertaining hereto. Section 1.23. Notification of Event of Default Under Deed of Trust. The Grantor agrees to notify the Beneficiary immediately in writing of any default by the Grantor in the performance or observance of any covenant, agreement, representation, warranty or obligation of the Grantor set forth herein. The Grantor shall also notify the Beneficiary in writing of any event or condition which with the lapse of time or the giving of notice would constitute an Event of Default. Section 1.24. Rules; Regulations; Environmental Laws. The Grantor hereby incorporates those covenants and representations contained in Section 2.2 and Article V of the Loan Agreement as an integral part hereof. Section 1.25. Organization; Due Authorization. The Grantor is a nonprofit corporation duly organized, validly existing and in good standing under the laws of the State and has the requisite power, authority and legal right to carry on the business conducted by it and to engage in the transactions contemplated by the Financing Documents to which it is a party. The execution and delivery of the Financing Documents to which it is a party and the performance and observance of the provisions thereof have all been authorized by all necessary actions of the Grantor. Section 1.26. Liabilities; Compliance With Other Instruments. The Grantor has no liabilities regarding the Mortgaged Estate except those hereunder (including the Title Exceptions) and those otherwise contemplated or permitted hereby and the other Financing Documents, none of which are delinquent. The Grantor is not in default (1) in the payment of any taxes levied or assessed against it or its assets, (2) under any applicable statute, rule, order or regulation of any governmental authority, (3) hereunder or any of the other Financing Documents to which it is a party or (4) under any other agreement to which it is a party or by which it or any of its properties are bound. Neither the execution and delivery hereof or any of the other Financing Documents to which the Grantor is a party, nor the consummation of the transactions herein or therein contemplated nor compliance with the terms and provisions hereof or thereof, conflicts with or results or will result in a breach of any of the terms, conditions or provisions of the articles of incorporation of the Grantor, any law, order, rule, regulation, writ, injunction or decree of any court or governmental authority, or any agreement or instrument to which the Grantor is a party or by which it or any of its properties are bound, or constitutes or will constitute a default thereunder, or result or will result in the creation or imposition of any lien of any nature whatsoever upon any of its property or assets pursuant to the terms of any such agreement or instrument except the liens created or permitted by the Financing Documents to which it is a party. Section 1.27. Enforceability. This Deed of Trust and each of the other Financing Documents to which the Grantor is a party have been duly executed and delivered by the Grantor and constitute valid and binding obligations of the Grantor enforceable in accordance with their respective terms, except as -10-