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L 87-- 104302 (iii) a Floating Rate Programmed Lending Note dated December 15, 1986, in the original principal amount of Fight Thousand and No /100 Dollars ( ;8,000.00). (b) the payment of interest at the rate or rates provided in the afore - described notes and the payment of both principal and interest on any and all renewals, modifications and extensions of such notes; (c) the payment of principal and interest on any future advance as may be evidenced by promissory notes stating they are secured by this Deed of Trust; provided, however, that the total principal indebtedness, not including sums advanced to protect the security or interest accrued, shall not exceed the sum of One Hundred Thousand and No /100 Dollars ($100,000.00); (d) the performance of each agreement and covenant of Trustor herein contained; and (e) the payment of any sum or sums of money which may be hereafter paid or advanced by Beneficiary under the terms of this Deed of Trust, together with interest at the highest rate provided in the notes secured hereby. To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows: 1. Paxment of Indebtedness. 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 instru- ments. 2. Title. Trustor is the owner of the property and has the right and authority to execute this Deed of Trust in respect to the property. 3. Taxes and Assessments. To pay, when due, all taxes, special assessments and al other charges against the property, before the same become delinquent, and, in the event Beneficiary shall so require, to add to the payments required under the note secured hereby, such amount as may be sufficient to enable Beneficiary to pay such taxes, assessments or other charges as they become due. 4. Insurance. To keep the improvements now or hereafter located on the real estate described herein insured against damage by fire and such other hazards as Beneficiary may require, in amounts and companies acceptable to Beneficiary, and with loss payable to Beneficiary. In case of loss under such policies, Beneficiary is authorized to adjust, collect and compromise, in its discretion, all claims thereunder and, at its sole option, is authorized to either apply the proceeds to the restoration of the property or upon the indebtedness secured hereby, but payments required by the note shall continue until the sums secured hereby are paid in full. 5. Repair, Maintenance and Use. To promptly repair, restore or regu-ild any buildings or improvements now or hereafter on the property; to keep the property in good condition and repair, without waste and free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer or permit any nuisance to exist nor to diminish or impair the value of the property by any act or omission to act; and to comply with all requirements of law with respect to the property. 6. Condemnation. In the event the property, or any part thereof, a al tin by eminent domain, 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 Beneficiary shall apply such compensation, at its option, either to a reduction -2-