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2011057�0 (b) the performance of each agreement and covenant of Trustor herein contained; and (c) the payment of any sum or sums of money which may be hereafter paid or advanced by Beneficiary under the terms of this Deed of Trust, together with interest thereon at the rate provided in the note. To protect the security of this Deed of Trust, Trustor hereby covenants and agrees as follows: 1. Payment of Indebtedness. To pay when due, the principal of and the interest on, the indebtedness evidenced by the note, charges, fees and all other sums as provided in the loan instruments. 2. Title. Trustor is the owner of the property and has the right and authority to execute this Deed of Trust in respect to the property. The Tntstor warrants that the lien created by this Deed of Trust is subject only to a prior Deed of Trust filed against the property in favor of Equitable Bank and recorded in the Office of the Hall County Register of Deeds as Document No. 200801938. 3. Taxes and Assessments. To pay, when due, a11 tas�es, special assessments and all other charges against the Property, before the same become delinquent, and, in the event Beneficiary shall so require, to add to the payments required under the note secured hereby, such amount as may be sufficient to enable Beneficiary to pay such taxes, assessments or other charges as they become due. 4. Repa,ir, Maintenance and Use. To not commit waste on or damage to the Property and to use due care to prevent others from so doing; to keep the Property in good condition and repair; to keep the Property free from mechanics or other liens not expressly subordinated to the lien hereof; to not make, suffer or permit any nuisance to exist nor to diminish or impair the value of the Property by any act or omission to act; and to comply with all requirements of law with respect to the Property. 5. Insurance. At all times during the term hereof to keep the Property insured against damage by fire, hazards included within the term "extended coverage", and such other hazards as Beneficiary may require, in an amount of not less than the replacexnent value thereof and with companies acceptable to Beneficiary, including a standard mortgagee clause with loss payable to the Beneficiary and containing an additional provision that the policy cannot be cancelled without prior written notice to the Beneficiary. In case of loss under such policies, the Beneficiary is authorized to adjust, collect and compromise all claims thereu.nder and shall have the option of applying all or part of the insurance proceeds (i) to any indebtedness secured hereby and in such order as Beneficiary may determine, (ii) to the Trustor to be used for the repair or restoration of the Property or (iii) for any other purpose or object satisfactory to Beneficiary without affecting the lien of this Deed of Trust for the full amount secured hereby before such payment ever took place. Any application of proceeds to indebtedness sha11 not extend or postpone the due date of any payments under the Note, or cure any default thereunder or hereunder. 6. Condemnation. In the event the Property, or any part thereof, shall be ta.ken by eminent domain, Beneficiary is entitled to collect and receive all compensation which may be paid for any Property taken or for damages to Property not taken, and Beneficiary shall apply such compensation, at its option, either to a reduction of the indebtedness secured hereby or to repair and restore the Property so taken. 7. Performance bv Beneficiary. Beneficiary may, but shall have no oblig�,tion to, do any act which Trustor has agreed but failed to do, and Beneficiary may also do any act it deems necessary to protect the lien hereof. Trustor agrees to repay, upon demand, any sums so expended by Beneficiary for the above purposes, and any sum so expended by Beneficiary shall be added to the indebtedness secured hereby and become secured by the lien hereof. Beneficiary shall not incur any personal liability because of anything it rnay do or omit to do hereunder. 2