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200700601 future advances and readvances to Trustors hereunder pursuant to one ore more promissory notes or credit agreements (herein called "Note"); b. the payment of other sums advanced by Beneficiary to protect the security of the Note; c. the performance of all covenants and agreements of Trustor set forth herein; and d. all present and future indebtedness and obligations of Trustors to Beneficiary whether direct, indi- rect, absolute or contingent and whether arising by note, guaranty, overdraft or otherwise; TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTORS HEREBY COVENANT AND AGREE: 1. To pay when due, the principal of, and the interest on, the indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan instruments. 2. Trustors are the owners of the property and have the right and authority to execute this Deed of Trust in respect to the property. 3. To pay, when due, all taxes, special assessments and all other charges against the property, before the same become de- linquent. Trustors shall pay all taxes and assessments which may be levied upon Beneficiary's interest herein or upon this Deed of Trust or the debt secured hereby, without regard to any law that may be enacted imposing payment of the whole or any part thereof upon the Beneficiary. 4. To keep the improvements now or hereafter located on the property insured against damage by fire and such other haz- ards as the Beneficiary may require, in amounts and companies acceptable to the Beneficiary, Such insurance policy shall con- tain a standard mortgage clause in favor of Beneficiary. Trustor shall promptly repair, maintain and replace the property or any part thereof, so that, except for ordinary wear and tear, the property shall not deteriorate. 5. In the event the property, or any part thereof, shall be taken by eminent domain, the Beneficiary is entitled to collect and receive all compensation which may be paid for any property taken or for damages to property not taken, and the Beneficiary shall apply such compensation, at its option, either to a reduction of the iridebtedness secured hereby, or to repair and restore the property so taken. 6. The Beneficiary may, but shall have no obligation to, do any act which Trustors have agreed but failed to do, and the Beneficiary may also do any act it deems necessary to protect the lien hereof. Trustors agree to repay, upon demand, any sums so expended by the Beneficiary for the above purposes, and any sum so expended shall be added to the indebtedness secured hereby and become secured by the lien hereof. The Beneficiary shall no incur any liability because of anything it may do or omit to do hereunder. 7. The Beneficiary shall have the right, power and authority during the continuance of this Deed of Trust to collect the rents, issues and profits of the property and of any personal property located thereon with or without taking possession of the property affected hereby, and Trustors hereby absolutely and unconditionally assign all such rents, issues and profits to the beneficiary. The beneficiary, however, hereby consents to Trustors' collection and retention of such rents, issues and profits, so long as Trustors are not, at such time, in default with respect to payment of any indebtedness secured hereby, or in the perform- ance of any agreement hereunder. If any event of default described hereafter in respect to this Deed of Trust shall have oc- curred and be continuing, the Beneficiary, as a matter of right and without notice to Trustors or anyone claiming under Trustors, and without regard to the value of the trust.estate or the interest of the Trustors therein, shall have the right to apply to any court having jurisdiction to appoint a receiver of the property. 8. The Beneficiary, or its agents, are authorized to enter at any reasonable time upon or in any part of the property for the purpose of inspecting the same and for the purpose of performing any of the acts they are authorized to perform under the terms of any loan instruments executed by Trustors. 9. If all or any part of the property or any interest of Trustors is sold, transferred or further encumbered without the written consent of the Beneficiary, the Beneficiary may declare all sums secured by this Trust Deed to be immediately due and payable and proceed to the remedies available to it under the default provisions contained herein. 10. Any of the following events shall be deemed an event of default hereunder: a. Trustors shall have failed to make payment of any installment of principal or interest or any other sums secured hereby when due; b. There has occurred a breach of or default under any term, covenant, agreement, condition, provision, representation or warranty contained in this Deed of Trust, the note or any other loan instrument secured hereby; c. There has been a default by the Trustorsin the payment of any prior or subsequent lien or encumbrance in respect to all or any part of the property; d. Trustors shall file a voluntary petition in bankruptcy or shall be adjudicated bankrupt or insolvent, or shall make an as- signment for the benefit of creditors in respect to the property; or an action to enforce any lien or encumbrance or judg- ments against the property is commenced. 11. In the event of any default, the Beneficiary may declare all indebtedness secured hereby to be due and payable and the same shall thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter, the Beneficiary may: a. either in person or by agent, with or without bringing any action or proceeding, or by receiver appointed by a court and without regard to the adequacy of any security, enter upon and take possession of the property, or any part thereof, in its own name or in the name of the Trustee, and do any acts which it deems necessary and desirable to preserve the value, marketability or rentability of the property, or part thereof, or interest therein, increase the income therefrom or protect the security hereof and, without taking possession of the property, sue for or otherwise collect the rents, issues and prof- its thereof, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including attorney fees, upon any indebtedness secured hereby, all in such order as the Beneficiary may determine. The entering upon and taking possession of the trust estate, the collection of such rents, issues and profits and application thereof as aforesaid shall not cure or waive .any default or notice of default hereunder or invalidate any act and in re- sponse to such default or pursuant to such notice of default and notwithstanding the continuance in possession of the property or the collection, receipt and application of rents, issues or profits, Trustee or the Beneficiary may be entitled to exercise every right provided for in any of the loan instruments or by law upon occurrence of any event of default, in- cluding the right to exercise the power of sale; b. commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof; c. deliver to Trustee a written declaration of default and demand for sale, and written notice of default and election to cause Trustors' interest in the property to be sold, which notice Trustee shall cause to he duly filed for record in the official re- cords of the county in which the property is located.