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2oooo5s29 2.1 Warranty of Title/Possession. The Trustor warrants that it has sole and exclusive title to and possession of the Premises, excepting only the following (the "Permitted Encumbrances"): the Leases listed on the rent roll attached to the Loan Agreement, taxes and assessments not yet due and payable and those Permitted Encumbrances set forth on Exhibit B attached hereto. The lien of this Deed of Trust, subject only to Permitted Encumbrances, is and will continue to be a valid first and only lien upon all of the Property. 2.2 Maintenance; Waste; Alteration. The Trustor will maintain the Premises in good and tenantable condition and will restore or replace damaged or destroyed improvements with items of at least equal utility and value. The Trustor will not commit or permit waste to be committed on the Premises. The Trustor will not remove, demolish or materially alter any part of the Premises without the Beneficiary's prior written consent, except the Trustor may remove a fixture, provided the fixture is promptly replaced with another fixture of at least equal utility. The replacement fixture will be subject to the priority lien and security of this Deed of Trust. 2.3 Transfer and Liens. The Trustor will not, without the prior written consent of the Beneficiary, which may be withheld in the Beneficiary's sole and absolute discretion, either voluntarily or involuntarily (a) sell, assign, lease or transfer, or permit to be sold, assigned, leased or transferred, any part of the Premises, or any interest therein, except for Leases under and as defined in Loan Agreement; or (b) pledge or otherwise encumber, create or permit to exist any mortgage, pledge, lien or claim for lien or encumbrance upon any part of the Premises or interest therein, except for the Permitted Encumbrances. Beneficiary has not consented and will not consent to any contract or to any work or to the furnishing of any materials which might be deemed to create a lien or liens superior to the lien of this Deed of Trust. 2.4 Escrow. After written request from the Beneficiary after the occurrence of an Event of Default, the Trustor will pay to the Beneficiary sufficient funds at such tirne as the Beneficiary designates, to pay (a) the estimated annual real estate taxes and assessments on the Premises; and (b) all property or hazard insurance prenr~iu~ns when due. To the extent not prohibited by applicable law, interest will not be paid by the Beneficiary on any escrowed funds. Except as may be required by applicable law, escrowed funds may be commingled with other funds of the Beneficiary. A11 escrowed funds are hereby pledged as additional security for the Obligations. 2.5 Taxes, Assessments and Charges. To the extent not paid to the Beneficiary under 2.4 above, the Trustor will pay before they become delinquent all taxes, assessments and other charges now or hereafter levied or assessed against the Premises, against the Beneficiary based upon this Deed of Trust or the Obligations secured by this Deed of Trust, or upon the Beneficiary's interest in the Premises, and deliver to the Beneficiary receipts showing timely payment. 2.b Insurance. The Trustor will continually insure the Premises as required under the terms of the Loan Agreement. The Trustor hereby assigns all insurance proceeds to and #1407888 v6 den Page 3