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that there are no pending, or to Trustor's actual knowledge, threatened actions or <br />proceedings before any court or administrative agency which may adversely affect <br />Trustor's ownership of the Property. <br />7.4 Payment and Performance of Secured Obligations. Trustor shall promptly <br />pay when due the principal and any interest due on the indebtedness evidenced by the <br />Note, and shall promptly pay and perform all other obligations of Trustor arising in <br />connection with the Secured Obligations or the Loan Documents in accordance with the <br />respective terms thereof. <br />7.5 Use of Loan Proceeds Preservation and Maintenance of Property; <br />Compliance with Laws. Trustor covenants that it shall use the proceeds of the Loan <br />(the "Loan Proceeds") solely far purposes authorized by the Loan Documents. Trustor <br />covenants that it shall keep the Land and Improvements in good repair and condition, <br />and from time to time shall make necessary repairs, renewals and replacements thereto <br />so that the Property shall be preserved and maintained. Trustor covenants that it shall <br />comply with all federal, state and local laws, regulations, ordinances and rules <br />applicable to the Property and the Project, including without limitation all applicable <br />requirements of state and local building codes and regulations and all applicable <br />statutes and regulations relating to accessibility for the disabled. Trustor shall not <br />remove, demolish or materially alter any Improvement without Beneficiary's consent, <br />shall complete or restore promptly and in good and workmanlike manner any building, <br />fixture or other improvement which may be constructed, damaged, or destroyed <br />thereon, and shall pay when due all claims for labor performed and materials furnished <br />therefor. Trustor shall use the Land and the Improvements solely for purposes <br />authorized by the Loan Documents, shall not commit or allow waste of the Property, and <br />shall not commit or allow any act upon or use of the Property which would violate any <br />applicable law or order of any governmental authority, nor shall Trustor bring on or keep <br />any article on the Property or cause or allow any condition to exist thereon which could <br />invalidate or which would be prohibited by any insurance coverage required to be <br />maintained on the Property pursuant to the Loan Documents. <br />7.6 Restrictions on Conveyance and Encumbrance; Acceleration. It shall be <br />an Event of Developer Default hereunder if the Property or the Improvements, or any <br />part thereof or interest therein is sold, assigned, conveyed, transferred, hypothecated, <br />leased, licensed, or encumbered in violation of the Loan Documents or if any other <br />Transfer (as defined in the OPA) occurs in violation of the Loan Documents. If any such <br />Transfer shall occur in violation of such requirements, without limiting the provisions of <br />Section 8 hereof, all obligations secured by this Deed of Trust, irrespective of the <br />maturity dates of such obligations, shall at the option of Beneficiary, and without <br />demand, immediately become due and payable, subject to any applicable cure period. <br />7.7 Inspections; Books and Records. Beneficiary and its agents and <br />representatives shall have the right at any reasonable time upon reasonable notice to <br />enter upon the Land and inspect the Property to ensure compliance with the Loan <br />Documents; provided however, that Trustor shall have the right to accompany <br />Beneficiary during any such inspection. Trustor shall maintain complete and accurate <br />i18o284-6 <br />