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08.06.2008 200807161 File No. 16-471 The indebtedness secured hereby is further evidenced and secured by the following documents, executed by Trustor, dated of even date herewith, which, with this Deed of Trust, the Promissory Note and any amendments or supplements thereto or modifications thereof are hereinafter referred to collectively as the "Loan Documents:" (a) a Building Loan Agreement; (b) an Environmental Indemnity Agreement; (c) an Assignment of Rents and Leases; (d) an Assignment of Plans, Specifications and Architect's Contract; (e) an Assignment of Contracts (Construction); (f) a Notice of Commencement; and (g) a UCC-1 Financing Statement, and is guaranteed by an instrument entitled "Guaranty of Completion and Payment" executed by Tamas R. Allan (the "Guarantor"), dated of even date herewith. ARTICLE I REPRESENTATIONS, WARRANTIES, COVENANTS AND AGREEMENTS OF TRUSTOR Trustor hereby represents, warrants, covenants and agrees: Section 1.01. Pavment of Secured Obliaations. Trustor hereby grants this Deed of Trust to secure the payment and performance when due of the Secured Obligations. The con- sideration received by Trustor to execute and deliver this Deed of Trust and the liens and security interests created herein are sufficient and will provide a direct economic benefit to Trustor. Section 1.02. Title of Trustor. Trustor has, subject to Permitted Encumbrances set forth in Exhibit "B" hereto, in its own right, good, marketable and indefeasible title in fee simple to the Mortgaged Property, which is free from encumbrance superior to the encumbrance of this Deed of Trust and has full right to make this conveyance. Section 1.03. Construction of ImDrovements. To complete in good and workmanlike manner any building or improvement or repair relating thereto which may be begun on the Property or contemplated by the loan secured hereby, to pay when due all costs and liabilities incurred therefor, and not to permit any mechanic's or materialmen's lien against the Property. Trustor also agrees, anything in this Deed of Trust to the contrary notwithstanding: (a) promptly; to promptly commence work and to complete the proposed improvements (b) to complete same in accordance with plans and specifications as approved by Beneficiary; (c) to comply with all of the terms of any Building Loan Agreement between Trustor and Beneficiary; (d) to allow Beneficiary to inspect the Property at all times during construction; and (e) to replace any work or materials unsatisfactory to Beneficiary, within fifteen (15) days after written notice from Beneficiary of such fact, which notice may be given to Trustor by registered or certified mail, sent to its last known address, or by personal service of the same. Section 1.04. Maintenance. ReDalr. Alterations. Trustor shall: (i) keep the Mortgaged Property in good condition and repair, subject to reasonable and ordinary wear and tear; not remove, demolish or substantially alter (except such alterations as may be required by laws, ordinances or regulations) any of the Improvements; (ii) complete promptly and in good and workmanlike manner any building or other improvement which may be constructed on the Property and promptly restore in like manner any Improvement which may be damaged or destroyed thereon, subject to the provisions of Section 1.07, and to pay when due all claims for labor performed and materials furnished therefor; (iii) comply with all laws, ordinances, regulations, covenants, conditions and restrictions now or hereafter affecting the Mortga.ged Property, or any part thereof, or requiring any alterations or improvements; not to commit or Deed of Trust, Security Agreement and Assignment of Rents, Page 3 #553480-v1