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EXHIBIT 3 <br />3. Repayment of the Loan. Trustor will promptly repay, when due, the principal <br />and interest, as required by the City Loan Note secured by this City Deed of Trust. <br />4. Subordination. This obligation secured by this City Deed of Trust shall be <br />subordinated to the Senior Loan. <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 with <br />a lien which has priority over this Instrument, including Trustor's covenants to make <br />payments when due (subject to an applicable notice and cure provisions). Trustor will pay all <br />taxes, assessments and other charges, fines and impositions attributable to the Security which <br />may attain a priority over this City Deed of Trust, by Trustor making any payment, when due, <br />directly to the payee thereof Trustor will promptly fiurrish to the Beneficiary all notices of <br />amounts due under this paragraph, and in the event Trustor makes payment directly, Trustor <br />will promptly discharge any lien which has priority over this City Deed of Trust; provided <br />that Trustor will not be required to discharge the lien of this CityDeed of Trust securing any <br />senior lender or any other lien described in this paragraph so long as Trustor will agree in <br />writing to the payment of the obligation secured by such lien in a manner acceptable to the <br />Beneficiary, or will, in good faith, contest such lien by, or defend enforcement of such lien in, <br />legal proceedings which operate to prevent the enforcement of the lien or forfeiture of the <br />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 lender's <br />endorsement in favor of the holder of any senior lender and the Beneficiary as their interests <br />may appear and in a form acceptable to the Beneficiary. The Beneficiary shall have the right <br />to hold, or cause its designated agent to hold, the policies and renewals thereof, and Trustor <br />shall promptly famish to the Beneficiary, or its designated agent, the original insurance <br />policies or certificates of insurance, all renewal notices and all receipts of paid premiums. In <br />the event of loss, Trustor will give prompt notice to the insurance carrier and the Beneficiary <br />or its designated agent. The Beneficiary, or its designated agent, may make proof of loss if <br />not made promptly by Trustor. The Beneficiary shall receive 30 days (10 days for <br />nonpayment of premium) advance notice of cancellation of any insurance policies required <br />under this Section. <br />Unless the Beneficiary and Trustor otherwise agree in writing, insurance proceeds, <br />subject to the rights of any senior lender, will be applied to restoration or repair of the Security <br />damaged, provided such restoration or repair is economically feasible and the security of this <br />City Deed of Trust is not thereby impaired. If such restoration or repair is not economically <br />feasible or if the security of this City Deed of Trust would be impaired, again, subject to the <br />rights of any senior lender, the insurance proceeds will be used to repay the loan secured by <br />this City Deed of Trust, with the excess, if any, paid to Trustor. If the Security is abandoned <br />by Trustor, or if Trustor fails to respond to the Beneficiary, or its designated agent within 30 <br />days from the date notice is mailed by either of them to Trustor that the insurance carrier offers <br />OO M <br />