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�_.,,, ,..,�.�.�..�.,,.a�...�..�4.�� ,.Rf • ,.,,._,rau.en�........� _ .__ . , �. ' ---=. ��t,i;1 4 . .. .�� y�y��ry� y�+y:.w..y.«.;,i.�-r.v.v�r — } ;P 'w�; —— - .. . �,....�.:f..-.��„ ' `.'.. � �j•,11".yJ��-.:�.,.. . : _...l. � Y�R - _ '_ ��.�,.�.�.��....o.�.,��.�.. ...�..�. s _— --_— _ - �..� �-.` ._. _—_-- "_ — ' .�._ ' -�-�-. . �. -" . '�..��'cv-.�'w..-��.i.�.'.!C9LK�7�Wi.:�g"Y��_�_ ' ��-�{�N""v'__ �-� - -_- - - - -- --, ---`------_. . _ ..__f....":��qiqfSp.'"_''F•$L`.'MR.sanrsiYri�!�XRA....a...,r.� —___ . _.__..._ �'l:. � .. REI'RESENI'A'1'IU1V�MIL LU l lrn7 ' N� ��' �Va'�:� We promise that, exc�pt for Permitted Liens: (a) we owu tLe Propeny; (b) we hwve tlie �ight to grnnt and c;onvey the propecty to Truscee;and(c)there are no ouutanding claims or�harges against the Pruperty. 'Chc tenn"Permitted Lien"meaus (x)any moagage. dced to sec�arc debt or cleal of uust("secunfty lnslvument")dIsclosed ro(3MAC by auy Slgncr In applylag for tlie Account,to the oztent tbat the amount secural by suc:h stcurlry lnstnu�►ent dces not eaceed the amount disclose�l on such � applicadon;and(y)xny IIens.eleima a�xi r�strledons of x�ecoxd tl�t do not itxlivlduelly or collecdvely have a materlal advGtse irnpact upou GMAG's secudty.the v�lue of the Prop�rty or the Property's cunent use. Each of us gives a genera!warranty of dtle to CiMAC. This means d�at each of us will be fully responsible for eny losses which�MAC suffcre because anyo�but us has r3gl►te xn thc Propeny other thau Permitted Liens. Wc promise that�ye wlll defend aur ownershiA of t�e Property against any clRims of such right. We will neitbsr take nor pemut auy acdon to putidon, subdivlde or change the coualidon of title to a11 or any part of the � Property. We will not tunencl auy Pemutted Licn without(�MAC's prior written con�ent. CERTAII�I!P�OYISIONS OF'�AGREEl1�NT We wYlerstand tl�at OMAC may, wsder certain cucumstances set fnrtli ia the Agreement, cancel its obligat�on to make future advwceg ancl/or require r�payment�t once of the TotAl Dxlance Outstsuiding• OMAC uu►y cbange the teims of the Agroeaient, including terms relapog to FINANCB CHA1tGHS, as provided in the Agrcement, wIdiout in�pairlu�is rights un�er thin Aoed of T:uss. U1x1Cr I�e Ag��[� �I'c�ieu�Cfi i 'Iannt'inu�v�..nII:ttt"p�•tt:_z�r,.■ jn,nh�ichrr!in The Wall Strat I�wrnal Ar in certain ciccumstances t1�e"prime rate'pub�ished in 1�C Ncw Y�rk Tlmes or s s3milu index relectal by GMAC. '['he rxte of PINAxJCB GHAAGSS cbanges on a daily basts as the index or the amount outstanding under tha Agrecmeat increases or decreases. We understaad that Bormwer wUl not rcceive advance nodce of such cLanges. kROMISES AND AGREEMENTS We agree with aMAC as follows: 1.T�i4lELY PAYMENT. Borrovs�sr shall pny wt�n due All sums awed GMI�C under the Credit Documonts. 2.APPLICA'CYON OF PAY11�N'�'S.All�Stymeuts si�ll be applied by aMAC uv set forth in the Agceane.nt. 3.MORTGAGES AND DLEDS OF TRU3't';C]�AI�GES;L�1VS. VVe shall make payments when dus and perform a�l onr obligadons under ituy woxtgage,deal of uust or other security agreement on the Pmperty. V1►�sh�U p�►y or cnuse to be pnid when due a111oAns,taxes,assessiarnts,c,�arBcs� fine.9,imposidons and rents of any kind reladnA to the provcrty("Asser�e�ts"). Receipts evideucing sucb paymenss sball be dellvered to GMAC upon its rAquest. l3xcept for Pemittal L.iens. we ahall aot�Ilow uny eucumbrance. chxrge ur lien on We Property eo become prior to this Tiau of Trvst. 4.AA7.ARD INSURANCE;CONDEMNA'I'ION. - (a)We�hall.at onr cost.kap uil Improve�menta on th�Property insural against lacs caused by baxstrds iueluded in the tenn "extended coverage"or by ot�tr hazards GMAC may reasAnably specify. Hu�rd insurance shall be in�auno�wt equal co tDse ksser of(i)tl�e fuU repl�r:tn�cnt cost af tUe Uuil�ling that is part of tttie Pcoper�y or(it)tha 3mount of ttis Dood of TYuat plus thc tota! x�mount of all Psrmittod Lieas; but �xver la�s tlssw tLe aunount uecessuy to satisfy �ny cuins�ran�e roquirament onntaineci ln the insurnuce policy. All iasutance policies and renewals must be in form acceptable to CiMAC and must include a standard mongagee clause in favor of GMAG. GMAC shall have the righ:to hold the polictes and renewals.subject to the terms of any Percnit*_ed Liens. If we pay the premiums direclly, we svaU pmvide GMAC with all renewal nodces w�d, if requested by GMAC,all receipta for _ premiums. If policies and renewals a�e held by any other person,we shall supply copies of them to GMAC within ten calendar — days after they are issued. In tLe event of loss,�we shall give prompt notice to the insurance couipany a�xl GMAC. GMAC may 61e a proof of loss if � wc fail to do so promptly. _ .2_ � � • • ' ' a � ��A - - --------- —__._ .._.....