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86- 10'51 D
<br />(d) The 'payment of any future advances necessary to protect the security or any future
<br />advance made at the option of the parties; and
<br />(e) The performance of an obligation of any other person named in this Trust Deed to a
<br />beneficiary.
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY CONVENANTS AND AGREES
<br />AS FOLLOWS:
<br />1. Payment of Principal and Interest. Trustor shall promptly pay when due the principal
<br />of and interest on the indebtedness evidenced by the NOTE, and all other charges and fees as
<br />provided in the NOTE, and the principal of and interest on any Future Advances secured by
<br />this Deed of Trust.
<br />2. Warranty of Title. Trustor is lawfully seized and possessed of good and indefeasible
<br />title and estate to the Property hereby conveyed and has the right to grant and convey the
<br />Property; the Property is free and clear of all liens and encumbrances except liens now of
<br />record; and Trustor will warrant and defend the title to the Property against all claims
<br />and demands.
<br />3. Maintenance and Compliance with Laws. Trustor shall keep the Property in good condition
<br />and repair and shall not commit waste or permit impairment or deterioration of the Property
<br />and shall comply with the provisions of any lease if this deed of 'trust is on a leasehold.
<br />No improvement now or hereafter erected upon the Property shall be altered, removed or
<br />demolished without the prior written consent of Beneficiary. Trustor shall comply with all
<br />laws, ordinances, regulations, covenants, conditions and restrictions affecting the Property
<br />and not commit, suffer, or permit any act to be done in or upon the Property in violation of
<br />any law, ordinance, regulation, covenant, condition or restriction. Trustor shall complete
<br />or restore promptly and in good workmanlike manner any improvement on the Property which may
<br />be damaged or destroyed and pay, when due, all claims for labor performed and materials
<br />furnished therefore and for any alterations thereof.
<br />4. Insurance. Trustor, at its expense, will maintain with insurors approved by
<br />Beneficiary, insurance with respect to the Improvements and personal property, constituting
<br />the Property, against loss by fire, lightning, tornado, and other perils and hazards
<br />covered by standard extended coverage endorsement, in an amount equal to at least one hundred
<br />percent of the full replacement value thereof and insurance against such other hazards and in
<br />such amounts as is customarily carried by owners and operators of similar properties or as
<br />Beneficiary may require for its protection. Trustor will comply with such other requirements
<br />as Beneficiary may from time to time request for the protection by insurance of the interests
<br />of the respective parties. All insurance policies maintained pursuant to this Deed of Trust
<br />shall name Trustor and Beneficiary as insureds, as their rest•2ccive interests may appear, and
<br />provide that there shall be no cancellation or modification without no less chat 15 days
<br />prior written notification to Trustee and Beneficiary. In the event any policy hereunder is
<br />not renewed on or before 15 days prior to its expiration date, Trustee or Beneficiary may
<br />procure such insurance in accordance with the provisions of paragraph 7 hereof. Trustor
<br />shall deliver to Beneficiary the original policies of insurance and renewals thereof or memo
<br />copies of such policies and renewals thereof. Failure to furnish such insurance by Trustor,
<br />or renewals as required hereunder shall at the option of Beneficiary, constitute a default.
<br />5. Taxes Assessments, and Charges. Trustor shall pay all taxes, assessments and other
<br />charges, including, without limitation, fines and impositions attributable to the Property,
<br />and leasehold payments or ground rents, if any, before the same become delinquent. Trustor
<br />shall promptly furnish to Beneficiary all notices of amounts due under this paragraph, and
<br />in the event Trustor shall make payment directly, Trustor shall promptly furnish to Beneficiary
<br />receipts evidencing such payments. Trustor shall pav all taxes and assessments which may be
<br />levied upon Beneficiary's interest herein or upon this Deed of Trust without regard to any law
<br />that may be enacted imposing payment of the whole or any part thereof upon the Beneficiary.
<br />6. Additional Liens and Protection of Beneficiary's Security. Trustor shall make all
<br />payments of interest and principal and payments of any other charges, fees and expanses con-
<br />tracted to be paid to any existing lienholders or prior beneficiaries under any prior deed
<br />of trust or mortgage before the date they are delinquent and promptly pay and discharge any
<br />and all other liens, claims or charges which may be jeopardize the security granted heroin.
<br />If Trustor fails to make any such payment or fails to porform any of the covenants and
<br />agritements contained In this Deed of Trust, or in any prior mortgage or deed of crust. r if
<br />any action or proceeding is commenced which materially aflocts Beneficiary's interest in thr
<br />Property,including, but not limited to, eminent domain proceedings, or plo— edinHs imn:lv:nR
<br />a decedent, or if Trustor fails to pay Trustor's debts generally .,s they hr.nme duo, than
<br />Beneficiary, at Beneficiary`s option and without noti�a to nt demand upon ItnStor .mJ
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