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<br />84- 005068
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<br />and that it and its successors and assigns will forever
<br />and defend the Collateral against all claims and
<br />whatsoever,
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<br />I. COVENANTS, WARRANTIES,
<br />REPRESENTATIONS AND AGREEMENTS
<br />OF GRANTOR
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<br />Further to secure the payment and performance of the Liabil-
<br />ities, the Grantor hereby covenants, warrants, represent,s and
<br />agrees to and with Trustee and Beneficiary as follows:
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<br />1,1. Pa\'IlIent of Liabilities. The Grantor agrees that it
<br />will pay, timely and in the manner required in the appropriate
<br />documents or instruments, the principal of and interest on the
<br />Note, and all other Liabilities (including fees and charges).
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<br />1.;:, Payment of Taxes. The Grantor wi 11 pay, at least ten
<br />(10) busJ.ness days before delinquent, all taxes and asse.ssments,
<br />general or special, and any and all levies, claims, charges,
<br />expenses and liens, ordinary or extraordinary, governmental or
<br />non-governmental, statutory or otherlorise, due or to become due,
<br />t'.bat'. may be levied, assessed, ma,;i~, impose<"i or charged on or
<br />against the Collateral or an' p~operty used in connection
<br />therewith, and wJ.11 pay before due any tax or other charge on the
<br />int'.erest or estat'.e J.n lands created or represented by this Deed
<br />or bv any of the other Loan Documents, whether levied aqainst the
<br />Grantor ~r the BenefJ.cJ.arv or otherwise, and will submit to the
<br />Beneficiary upon requesc all receipcs Showing payment of all of
<br />such taxes, assessments and charges. The Grantor will, upon
<br />request of the Beneficiary, deposit with the Beneficiary monthly
<br />an ~~ount equal to one-twelfth of the actual general real estate
<br />taxes on t..'1e Premi ses for such year. or llO~~ of the taxes and
<br />charges lev~ed or assessed against the Prem~ses for the preceding
<br />year, Depos~ts w~th the Beneficlary hereunder shall be held as
<br />secur~ ty to:: the Liabi 2.i ties but will be release.d. upon "the
<br />Grantor's request, du'ectly to the payment of such taxes.
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<br />1 , 3, !>1~~J":..~el!_~_~~~_a-.!1:(L~~-E..i!.tz;. The Grantor wi 11 : not abandon
<br />t'.he Premises; not do or suffer anythJ.ng to be done which would
<br />depreciate or lmpair the value of the Collateral or the security
<br />of t'.nls Deed; not remove or demolish any of the Impr'ovements, pay
<br />promptly for all labor and materlals for all construction,
<br />repal rs and lmplovements to or on the Premlses; not make any
<br />materlal changes, additlons or alteratJ.ons to the Premises or the
<br />Improvements WhlCh in the opinion of Beneficiary diminishes its
<br />value except as requJ.red by the Loan Agreement or any applicable
<br />governmental requJ.rement or as otnerWlse approved in writing by
<br />the Beneficiary; maintain, preserve and keep the Goods and the
<br />Improvements in good, safe and lnsurable condition and repair and
<br />promptly make any needful and proper repairs, replacements.
<br />renewals, addltlons or substitutions requ~red by wear, damage,
<br />obsolescence or de st'. rue t'. J. on; promptly restore and replace any of
<br />the Improvements or Goods wh~ch ar'e destroyed or damaged; not
<br />commit, suffer, or perm~t waste of any part of the Premises; and
<br />maintaln all grounds and abutting streets and sidewalks in good
<br />and neat order and repalr.
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