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<br />200800422
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<br />NOW, THEREFORE, TO PROTECT THE SECURITY OF THIS DEED OF TRUST,
<br />Trustor does for themsel ves and for Trustor's heirs, representatives, vendees, successors and assigns,
<br />the owners of said Property, hereby expressly covenant, agree and warrant to and with the Trustee
<br />and Beneficiary, and their successors, vendees and assigns:
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<br />FIRST: That the Trustor hereby covenants and agrees, to the extent permitted by law, as
<br />follows: (a) to pay promptly when due the principal and interest and other sums of money provided
<br />for in the Note and in this Deed of Trust; (b) to promptly pay before delinquency all taxes,
<br />assessments and other charges imposed by law upon the Property, the Trustor's interest therein, or
<br />upon this Deed of Trust or the Note; provided, however, that in the event of any change of the law
<br />providing for the taxation of deeds of trust or debts thereby secured so as to afTect this Decd of Trust,
<br />the entire indebtedness secured hereby shall at the option ofthe Beneficiary become due and payable;
<br />(c) to keep the above-described Property and the improvements thereon in good condition and repair
<br />and not to commit or sutler waste thereof, and except as authorized in any schedule annexed hereto
<br />and forming a part hereof; (d) to maintain and deliver to Beneficiary policies of insurance against
<br />such hazards on the buildings and improvements now or hereaf1cr located on or constituting a part
<br />of the Property as the Beneficiary shall require, in such companies and amounts and with such loss
<br />payable clauses as shall be satisfactory to the Beneficiary; that in the event of loss, Beneficiary is
<br />expressly authorized to settle or compromise claims under said policies and the proceeds thereof shall
<br />be paid to the Beneficiary who may apply the same or any part thereof on the indebtedness secured
<br />hereby or toward the reconstruction or repair of said buildings and improvements or release same to
<br />the Trustor; (e) to pay any lien, claim or charge against the Property which might take precedence
<br />over the lien hereof; (f) to pay on demand all legal expenses, title searches, appraisal or attorney's
<br />fees reasonably incurred or paid by Beneficiary to collect the Note or foreclose or protect the lien of
<br />this Deed of Trust; (g) that in the event Trustor shall fail to comply with the provisions of (a) through
<br />(f) above, the Beneficiary may expend such funds and take such action as is necessary to remedy such
<br />failure and all sums paid by the Beneficiary pursuant hereto with interest at the rate hereinafter
<br />provided shall constitute a lien upon the Property, shall be secured by this Deed of Trust, and shall
<br />be immediately due and repayable to the Beneficiary; (h) not to sell the Property or any portion
<br />thereof without the approval of the Beneficiary in writing; and in the event of any sale herein
<br />prohibited, then the entire indebtedness secured by this Deed of Trust shall, at the option of the
<br />Beneficiary, become due and payable; (i) that if the Property or any part or parcel thereof shall be
<br />taken or damaged under the power of eminent domain, the award for any Property so taken or
<br />damaged (including severance damages to the remaining premises) shall be paid to the Beneficiary
<br />and applied in full or in part at the option ofthe Beneficiary in reduction ofthe indebtedness hereby
<br />secured; (j) that the Beneficiary shall have the right to inspect the Property at such reasonable times
<br />as the Beneficiary may desire to determine Trustor's compliance with the covenants contained in this
<br />Deed of Trust; (k) that the Beneficiary may release from the lien hereof any part or parcel of the
<br />Property without requiring any consideration therefor, and (I) that Trustor is lawfully seized of said
<br />premises and Property in fee simple, that the same are free from all liens and encumbrances except
<br />as may otherwise be specifically noted herein or waived in writing by the Beneficiary; that Trustor
<br />will execute or procure any further necessary assurances of title and does hereby warrant generally
<br />the titlc to said Property forever defend the same against the claims and demands of all persons
<br />whomsoever, and that 'rrustor's separate estate, whether vested, contingent or in expectancy, is
<br />hereby conveyed and Trustor does hereby expressly waive, release all rights and benefits of any
<br />homestead, dower, courtesy, appraisement, exemption and stay laws ofthis state. It is agreed that
<br />the interest provided for in subsection (g) above shall be at the same rate as specified in the Note
<br />secured hereby on the principal thereof after default and maturity.
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<br />SECOND: In the event Trustor, without the prior written consent of Beneficiary shall seIl,
<br />transfer or conveyor contract to sell, transfer or convey the Property, or any part thereof or any
<br />interest therein, the entire balance of the indebtedness hereby secured shall become and be
<br />immediately due and payable at the option of Beneficiary; provided, however, Beneficiary may waive
<br />such option to accelerate if, prior to such sale, transfer or conveyance or contract therefor,
<br />Beneficiary and the person to whom the property is to be sold or transferred reach an agreement in
<br />writing that the credit of such person is satisfactory to Beneficiary and that the interest payable on
<br />the sums secured by this Deed of Trust shall be at such rate as Beneficiary shall request.
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<br />THIRD: As further security fc)r the payment of the Note and the indebtedness thereby
<br />evidenced and the performance of all of the terms covenants and conditions hereof, trustor agrees that
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