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200605846 (6) If this Instrument is on a leasehold, performance and keeping by Borrower of each of the covenants and agreements required to be kept and performed by Borrower, as lessee, pursuant to the terms of the ground lease and any and all other instruments creating Borrower's leasehold interest in or defining Borrower's rights as lessee in respect to the Real Property. Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant, convey, transfer and assign the Real Property to the Trustee and that Borrower will warrant and defend generally the title to the Real Property against all claims and demands, except for liens, easements and restrictions which are shown as prior to the lien created by this Instrument in a schedule of exceptions to coverage in any title policy insuring Lender's lien on the Real Property created by this Instrument. TO PROTECT THE SECURITY OF THIS DEED OF TRUST, BORROWER COVENANTS AND AGREES AS FOLLOWS: 1. PAYMENT OF PRINCIPAL AND INTEREST. Borrower shall pay when due the principal of and interest on the indebtedness owing under the Revolving Loan Agreement, any prepayment and late charges provided in the Revolving Loan Agreement and all other sums secured by this Instrument. 2. FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. Unless waived in writing by Lender, Borrower shall pay to Lender on the day monthly installments of principal and/or interest are payable under the Revolving Loan Agreement (or on another day designated in writing by Lender), until all amounts owing under the Revolving Loan Agreement are paid in full, a sum (herein "Funds") equal to one-twelfth of (a) the yearly taxes and assessments which may be levied on the Real Property, (b) the yearly premium installments for fire and other hazard insurance, rent loss insurance and such other insurance covering the Real Property as Lender may require pursuant to this Instrument and (c) if this Instrument is on a leasehold, the yearly or periodic rents under the ground lease, all as reasonably estimated initially and from time to time by Lender on the basis of assessments and bills and reasonable estimates thereof. Any waiver by Lender of a requirement that Borrower pay such Funds may be revoked by Lender, in Lender's sole discretion, at any time upon notice in writing to Borrower. Lender may require Borrower to pay to Lender, in advance, such sums for other taxes, charges, premiums, assessments and impositions relating to Borrower or the Real Property, payment of which Lender reasonably shall deem necessary to protect any of the liens or security interests of Lender covered by this Instrument ("Other Impositions"). Unless otherwise provided by applicable law, Lender may require Funds for Other Impositions to be paid to Lender by Borrower in a lump sum or in periodic installments, at Lender's option. The Funds shall be held by Lender or, at Lender's option, in another institution, the deposits or accounts of which are insured or guaranteed by a federal or state agency. Lender shall apply the Funds to pay said taxes, assessments, insurance premiums and Other Impositions as they become due provided that (a) Borrower is not in breach of any covenant or agreement of Borrower in this Instrument and (b) no Event of Default (as such term is defined in the Revolving Loan Agreement) has occurred. Lender shall make no charge for so holding and applying the Funds, analyzing said account or for verifying and compiling said assessments and bills, unless Lender pays Borrower interest, earnings or profits on the Funds and applicable law permits Lender to make such a charge. Unless applicable law requires payment of interest, earnings or profits on the Funds to be paid, Lender shall not be required to pay Borrower any interest, earnings or profits on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds, in Lender's usual format, showing credits and debits to the Funds and the 3