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<br />-2- <br /> <br />83- 006589 <br /> <br />2. Payment of Principal and Interest. Trustor shall <br />punctually pay the principal of, and interest on, said Pro- <br />missory Note including any advances thereto as provided herein <br />on the dates and at the places and in the manner provided <br />therein, and will punctually perform all agreements, conditions <br />nnd provisions of any other security instrument given in con- <br />nection with this transaction. <br /> <br />3. Preservation and Maintenance of Property. Trustor <br />will not commit any waste upon the property and. will, at all <br />times, maintain the same in good order and condition and will <br />make, from time to time, all repairs, renewals, replacements, <br />additions and improvements which are reasonably required .to <br />prevent waste or deterioration of said property. Trustor will <br />replace the existing roof with a new roof on or before August 1, <br />1984. No building or improvement now or hereafter erected upon <br />the property shall be altered, removed or demolished without the <br />prior written consent of Beneficia.ry. <br /> <br />4. Insurance. Trustor, at his expense, I"ill maintain <br />with insu~approved by Beneficiary, insurance with respect <br />to the improvements and personal uroperty constituting the <br />Property against loss by fire, liqhtn~nq, tornado, and other <br />perils covered by standard extended coverage endorsement in <br />an amount equal to one hundred percent (100%) of the full re- <br />placement value \Chercot; and Insurance against such other <br />hazards and in such iilnotmt as \s customarily carried by the <br />owners and operators of siml.lar properties, and as Beneficiary <br />may rcqU.lre fot. its protection. )\11 insurance policies main- <br />tained pursuant to this Trust Deed shall name Trustor and <br />Bene ficiar{ as 1 nsureds, 35 thei r respect i ve in'terests may <br />appear, and provlde that there shall be no cancellation or <br />nodification without fift,een (lS) days~ prior \vritten no,tifi~ <br />cation to Trustc~e and Beneficiary-. In the f:,vent any policy <br />hereunder is not renewed on or before fifteen {IS} days prior <br />to i ts ('~xplration cia-te, Trustee or Beneficiary may procure such <br />insurance 1n accordance wi t.h t~he provislons of Paragraph 6 of <br />this Deed.. Trustor shall deliver to Beneficiary ( the original <br />poll.c-les of 1nsurance and r'0newals t_hereof, or rnemo copies of <br />such policies dDd renewals thereof. Failure to furnish such <br />insurance by Trustor. or renewals as required hereunder, shall <br />at the option of Beneficiary, constitute a default. <br /> <br />5. Taxes and Assessments. Trustor shall pay all taxes <br />a.nd speclal assessr.1€nts levi.ed or assessed against, or due <br />upon the property before delinquency, and will deli,ver to <br />Beneficiary, caples of receipts showing payment of such taxes <br />and speclal assessments. <br /> <br />L <br /> <br />L <br /> <br /> <br />u <br /> <br />..J <br />