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"I I 1 '84.- 006396 r (collectively, the "Letter Agreement") and the related promissory note (the "NoteH) dated November 19, 1984, in the principal amount of $32,500,000, made bv Grantor, and payable to the order of llmerican, as provided in the Letter Agreement and the Note, with all~~id principal and unpaid accrued interest due and payable on~,.and all obligations or indebtedness of any kind created. under al$, extensions, and amendments to or substitutions for Agreement or the Note, or any other instrument executed In with or pursuant to the Letter Agreement or the Note. (& referred to collectively as the "Obligation"). This secures present and future advances made by American to benefit of the Grantor or any other maker of the Not.e or Agreement, and the lien of this Deed of Trust. relaat:.ing<t~ future advances shall relate back to the date of this Deed..af THE GRANTOR COVENANTS AND AGREES AS FOLLOWS: 1. Grantor will promptly pay the Obligation eyi~~ the Note in accordance with its terms and \'1ill perform eachlmd agreement and condition contained in the Note, this Deed the Letter Agreement, any other mortgages, deeds of trust, agreements, collateral assignments oi contracts or lease age or in any other instrument which may be executed in connection such documents. 2. Grantor will pay immediately when due and pay~e taxes, special assessments, water and sewer rents or assessments~ all other charges ioposed by l"w upon or agilinst the Property; will deliver to ~~erican, upon demand, receipts or other evidence such payments. J. Grantor shall keep the improvements now existinqor hereafter erected on the Property and all other assets pledged to American as collateral for the Note or Letter Agreement insured against loss by fire, hazards included within the term "extended coverage,. business interruption, rent loss and such other hazards, casualties, liabilities, and contingencies in amounts and with insur- ance carriers approved by Nderican. The property damage iosutance shall be maintained in the amount of the full replacement cost of Such improvements and assets written on a replacement cost basis or with a replacement cost endorsement. All insurance policies and L~newals of such policies shall be in form reasonably acceptable to American and ahall include a standard mortgagee's clause in favor of and in form reasonably acceptable to American, shall name American as an additional insured, as its interest may appear, and shall provide that the insurance coverage may not be terminated as to American without at least 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 American, and Grantor shall prcraptly furnish to i\merican all receipts of premi.Wllli -2- u L L -.J