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<br />1908516.2 3 <br />advance said sums and the expiration of any applicable cure period, with interest thereon as <br />provided herein; and <br />C. Performance of every obligation, covenant or agreement of Trustor contained <br />herein and in the Loan Documents (defined in Section 1.1 below). <br />AND TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR COVENANTS <br />AND AGREES: <br />ARTICLE I <br />DEFINITIONS <br />In addition to the terms defined elsewhere in this Deed of Trust, the following terms shall <br />have the following meanings in this Deed of Trust: <br /> “Loan Agreement” means that certain Loan Agreement dated as of the date hereof, <br />executed by and between the Trustor and Beneficiary, providing for the Beneficiary to loan to <br />Trustor Six Hundred Fifty Thousand Dollars ($650,000) for the development of the Property. <br /> “Loan Documents” means this Deed of Trust, the Loan Agreement, the Note, and the <br />Regulatory Agreement. <br /> “Note” means that certain promissory note in the amount of Six Hundred Fifty Thousand <br />Dollars ($650,000) dated as of the date hereof, executed by the Trustor in favor of the <br />Beneficiary, the payment of which is secured by this Deed of Trust. <br /> “Regulatory Agreement” means that certain Regulatory Agreement, dated as of the date <br />hereof, executed by and between Trustor and Beneficiary, and which sets forth the household <br />income and rent restrictions for the HOME assisted units. <br />ARTICLE II <br />MAINTENANCE AND MODIFICATION OF THE <br />PROPERTY AND SECURITY; ASSIGNMENT OF RENTS <br /> 2.1 Maintenance and Modification of the Property by Trustor. The Trustor agrees <br />that at all times prior to full payment of the sum owed under the Note, the Trustor will, at the <br />Trustor’s own expense, maintain, preserve and keep the Security or cause the Security to be <br />maintained and preserved in good condition. The Trustor will from time to time make or cause <br />to be made all repairs, replacements and renewals deemed proper and necessary by it. The <br />Beneficiary shall have no responsibility in any of these matters or for the making of <br />improvements or additions to the Security. <br /> Trustor agrees to pay fully and discharge (or cause to be paid fully and discharged) all <br />claims for labor done and for material and services furnished in connection with the Security, <br />diligently to file or procure the filing of a valid notice of cessation upon the event of a cessation <br />of labor on the work or construction on the Security for a continuous period of thirty (30) days or