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200804831 ARTICLE 3. BORROWER'S TITLE AND AUTHORITY 3.1 Warranty of Title. Borrower represents and warrants to Trustee and Bank that Borrower has good and marketable title to the Property in fee simple absolute, subject only to the lien of general taxes for the current year, which taxes are not delinquent, and those additional matters, if any, set forth in Exhibit B, attached hereto and by this reference incorporated herein ("Permitted Exceptions"). Borrower further represents and warrants to Trustee and Bank that Borrower is the absolute owner of the Collateral, free of any liens, encumbrances, security interests, and other claims whatsoever, except insofar as the Collateral may be encumbered by the lien of general taxes for the current year, which taxes are not delinquent, and the Permitted Exceptions. Borrower, for itself and its successors and assigns, hereby agrees to warrant and forever defend, all and singular, all of the Property and property interest granted and conveyed in trust pursuant to this Deed of Trust, against every person whomsoever lawfully claiming, or to claim, the same or any part thereof, subject to the Permitted Exceptions. The warranties contained in this section shall survive foreclosure of this Deed of Trust, and shall inure to the benefit of and be enforceable by any person who may acquire title to the Property or the Collateral pursuant to any such foreclosure. 3.2 Waiver of Homestead and Other Exemptions. To the extent permitted by law, Borrower hereby waives all rights to any homestead or other exemption to which Borrower would otherwise be entitled, vis-a-vis Bank's ability to exercise its remedies, under any present or future constitutional, statutory, or other provision of applicable state or federal law. 3.3 Due Authorization. If Borrower is other than a natural person, then each individual who executes this document on behalf of Borrower represents and warrants to Trustee and Bank that such execution has been duly authorized by all necessary corporate, partnership, or other action on the part of Borrower. ARTICLE 4. BORROWER'S AFFIRMATIVE COVENANTS 4.1 Payment of Note and Reimbursement Agreement. Borrower will pay all principal, interest, and other sums payable under the Note, the Reimbursement Agreement or this Deed of Trust or the Loan Documents, on the date when such payments are due, without notice or demand. 4.2 Performance of Other Obligations. Borrower will promptly and strictly perform and comply with all other covenants, conditions, and prohibitions required of Borrower by the terms of the Loan Documents. 4.3 Other Encumbrances. Borrower will promptly and strictly perform and comply with all covenants, conditions, and prohibitions required of Borrower in connection with any other encumbrance affecting the Property or the Collateral, or any part thereof, or any interest therein, regardless of whether such other encumbrance is superior or subordinate to the lien hereof. This paragraph does not authorize any lien or encumbrance against the Property or the J 03209-6061 7-957802v5 7 us Bank I Riverbend Apartments Phase I Deed of Trust