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001699 dated March 29, 1985, in the principal amount of $30,000,000, made by Borrower, and guaranteed by Grantor, and payable to the order of ��merican, as provided in the Loan Agreement and the Note, with all unpaid principal and unpaid accrued interest due and payable on demand, and all obligations or indebtedness of any kind created under any renewals, extensions, and amendments to or substitutions for the Loan Agreement or the Note, or any other instrument executed in con- nection with or Pursuant to the Loan Agreement or the Note (subsequently referred to collectively as the "Obligation "). This Deed of Trust secures present and future advances made by American to or for the benefit of the Borrower or any other maker of the Note or the Loan Agreement, and the lien of this Deed of Trust relating to all such future advances shall relate back to the date of this Deed of Trust. THE GRANTOR COVENANTS AND AGREES AS FOLLOWS: I. Grantor will promptly pay the Obligation evidenced by the Note in accordance with its terms and will perform each and every agreement and condition contained in the Note, this Deed of Trust, the Loan Agreement, any other mortgages, deeds of trust, security agreements, collateral assignments of contracts or lease agreements, or in any other instrument which may be executed in connection with such documents. 2. Grantor will pay immediately when due and payable all taxes, special assessments, water and sewer rents or assessments, and all other charges imposed by law upon or against the Property, and will deliver to American, upon demand, receipts or other evidence of such payments. 3. Grantor shall keep the improvements now existing or hereafter erected on the Property and all other assets pledged to American as collateral for the Note or Loan Agreement insured against loss by fire, hazards included within the term "extended liabilities, coverage," business interruption, rent loss and such other hazards, casualties,. ies, and contingencies in amounts and with insurance carriers approved by American. The property damage insurance shall be main tained in the amount of the full replacement cost of such improve- ments and assets written on a replacement cost basis or with a replacement cost endorsement. All insurance policies and renewals of such policies shall be in form reasonably acceptable to American and shall include a standard mortgagee's clause in favor of and in form reasonably acceptable to American, shall name American as an addi- tional insured, as its interest may appear, and shall provide that the insurance coverage may not be terminated as to American without at leant 30 days' prior written notice to American. At least 30 days prior to the expiration date of the policies, Grantor shall deliver to American renewal policies acceptable to tVnerican, and Grantor shall promptly furnish to American all receipts of premiums relating -2- 7