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And the said Grantor does hereby covenant and agree with the <br />Trustee as follows: <br />1. TAXES ASSESSMENTS4 CHARGES. The Grantor shall pay all <br />taxes, assessments and charges as may be lawfully levied against <br />said Premises within 30 days after the same shall become due. In <br />the event that Grantor fails to so pay all taxes, assessments and <br />charges as herein required, then Beneficiary, at his option, may <br />pay the same and the amounts so paid shall be added to the <br />principal of the Note secured by this Deed of Trust, and shall be <br />due and payable upon demand of Beneficiary. <br />2. WASTE. The Grantor will keep the Premises herein <br />conveyed in as good order, repair and condition as they are now, <br />reasonable wear and tear excepted, and will comply with all <br />governmental requirements respecting the Premises or their use, <br />and will not commit or permit any waste. <br />3. CONDEMNATION. In the event that any or all of the <br />Premises shall be condemned and taken under the power of eminent <br />domain, Grantor shall give immediate written notice to <br />Beneficiary and Beneficiary shall have the right to receive and <br />collect all damages awarded by reason of such taking, and the <br />right to such damages hereby is assigned to Beneficiary who shall <br />have the discretion to apply the amount.so received, or any part <br />thereof, to the indebtedness due hereunder and if payable in <br />installments, applied in the inverse order of maturity of such <br />installments, or to any alteration, repair or restoration of the <br />Premises by Grantor. <br />4. WARRANTIES. Grantor covenants with Trustee and <br />Beneficiary that it is seized of the Premises in fee simple, has <br />the right to convey the same in fee simple, that title is <br />marketable and free and clear of all encumbrances, and that it <br />will warrant and defend the title against the lawful claims of <br />all persons whomsoever, except for the exceptions hereinafter <br />stated. <br />5. SUBSTITUTION OF TRUSTEE. Grantor and Trustee covenant <br />and agree to and with Beneficiary that in case the Trustee, or <br />any successor trustee, shall die, become incapable of acting, <br />renounce his trust, or for any reason the holder of the Note <br />desires to replace said Trustee, then the holder may appoint, in <br />writing, a trustee to take the place of the Trustee; and upon the <br />probate and registration of the same, the trustee thus appointed <br />shall succeed to all rights, powers and duties of the Trustee. <br />6. ADVANCEMENTS. If Grantor shall fail to perform any of <br />the covenants or obligations contained herein or in any other <br />instrument given as additional security for the Note secured <br />hereby, the Beneficiary may, but without obligation, make <br />advances to perform such covenants or obligations, and all such. <br />sums so advanced shall be added to the principal sum, shall bear <br />3 <br />