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3. Repayment of the Loan. Trustor will promptly repay, when due, the principal <br />and interest, if any, as required by the Loan Note secured by this Deed of Trust. <br />4. Subordination. This obligation secured by this Deed of Trust shall be <br />subordinated to any and all obligations secured by deeds of trust, or any other security <br />agreement, to secure financing for the purchase or refinancing of the Property, or to provide <br />improvements thereto, which obligations collectively, shall not encumber the property in <br />excess of Five Million Dollars ($5,000,000.00). <br />5. Prior Mortgages and Deeds of Trust; Charges; Liens. Trustor shall perform <br />all of Trustor's obligations under any mortgage, deed of trust or other security agreement <br />with a lien which has priority over this Instrument, including Trustor's covenants to make <br />payments when due. Trustor will pay all taxes, assessments and other charges, fines and <br />impositions attributable to the Security which may attain a priority over this Deed of Trust, <br />by Trustor making any payment, when due, directly to the payee thereof. Trustor will <br />promptly furnish to the Beneficiary all notices of amounts due under this paragraph, and in <br />the event Trustor makes payment directly, Trustor will promptly discharge any lien which <br />has priority over this Deed of Trust; provided that Trustor will not be required to discharge <br />the lien of the Deed of Trust securing the First Lender Note or any other lien described in <br />this paragraph so long as Trustor will agree in writing to the payment of the obligation <br />secured by such lien in a manner acceptable to the Beneficiary, or will, in good faith, contest <br />such lien by, or defend enforcement of such lien in, legal proceedings which operate to <br />prevent the enforcement of the.lien or forfeiture of the Security or any part thereof. <br />6. Hazard Insurance. Trustor will keep the Security insured by such insurance <br />policies in such amounts and for such periods as called for in the Agreement. All insurance <br />policies and renewals thereof will include a standard mortgagee clause with standard <br />lender's endorsement in favor of the holder of the First Lender Note and the Beneficiary as <br />their interests may appear and in a form acceptable to the Beneficiary. The Beneficiary <br />shall have the right to hold, or cause its designated agent to hold, the policies and renewals <br />thereof, and Trustor shall promptly furnish to the Beneficiary, or its designated agent, the <br />original insurance policies or certificates of insurance, all renewal notices and all receipts of <br />paid premiums. In the event of loss, Trustor will give prompt notice to the insurance carrier <br />and the Beneficiary or its designated agent. The Beneficiary, or its designated agent, may <br />make proof of loss if not made promptly by Trustor. The Beneficiary shall receive 30 days' <br />advance notice of cancellation of any insurance policies required under this Section. <br />Unless the Beneficiary and Trustor otherwise agree in writing, insurance proceeds, <br />subject to the rights of the First Lender, will be applied to restoration or repair of the <br />Attachment No. 6 <br />15.3 <br />65A-27