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200904298
<br />THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE
<br />FOLLOWING TERMS:
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Grantor
<br />shall pay to Lender all amounts secured by this Deed of Trust as they become due, and shall strictly
<br />and in a timely manner perform all of Grantor's obligations under the Note, this Deed of Trust, and
<br />the other Laan Documents.
<br />PURPOSE OF LOAN. This Deed of Trust is given for the purpose of securing the following
<br />indebtedness (collectively, the "indebtedness"):
<br />(a) Payment of indebtedness in the total principal amount of $950,000, as evidenced by
<br />the Note, which has been delivered and is payable to the order of Beneficiary, and which by this
<br />reference is hereby made a part hereof, and the Loan Agreement, and any and all modifications,
<br />extensions and renewals thereof; and
<br />(b) Payment of all sums advanced by Beneficiary to protect the Property, including, but
<br />not limited to advances far taxes, assessments, claims, liens, insurance and maintenance; and
<br />(c) All present and future debts of Grantor to Lender, even if this Deed of Trust is not
<br />referenced, or if the future debt is unrelated to or of a different type than this debt.
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's
<br />possession and use of the Property shall be governed by the following provisions:
<br />Possession and Use. Until the occurrence of an Event of Default (as such term is defined in
<br />the Loan Agreement), Grantor may (1) remain in possession and control of the Property; (2)
<br />use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />Duty to Maintain. Grantor shall maintain the Property in good condition and promptly
<br />perform all repairs, replacements, and maintenance necessary to preserve its value.
<br />Nuisance. Waste. Grantor shall not cause, conduct or permit any nuisance nor commit,
<br />permit, or suffer any stripping of or waste on or to the Property or any portion of the
<br />Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant
<br />to any other party the right to remove, any timber, minerals (including oil and gas) coal, clay,
<br />scoria, soil, gravel or rock products without Lender's prior written consent. This restriction
<br />will not apply to rights and easements (such as gas and oil) not owned by Grantor and of
<br />which Grantor has informed Lender in writing prior to Grantor's signing of this Deed of
<br />Trust.
<br />Removal of Improvements. Grantor shall not demolish or remove any Improvements from
<br />the Property without Lender's prior written consent. As a condition to the removal of any
<br />Improvements, Lender may require Grantor to make arrangements satisfactory to Lender to
<br />replace such Improvements with Improvements of at least equal value.
<br />Additional Covenants. The provisions of Section 7 of the Loan Agreement, entitled
<br />"Affirmative Covenants", and the provisions of Section 9 of the Loan Agreement, entitled
<br />"Negative Covenants", are incorporated by reference as if fully set forth herein and are a
<br />part of this Deed of Trust.
<br />Compliance with Governmental Requirements. Grantor shall promptly comply with all
<br />laws, ordinances, and regulations, now or hereafter in effect, of all governmental authorities
<br />applicable to the use or occupancy of the Property. Grantor may contest in good faith any
<br />such law, ordinance, or regulation and withhold compliance during any proceeding, including
<br />appropriate appeals, sa long as Grantor has notified Lender in writing prior to doing so and
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