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20]205505
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease
<br />payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary
<br />may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and the
<br />receipts evidencing Trustor's payment. Trustor will defend title to the Property against any claims that
<br />would impair the lien of this Security Instrument Trustor agrees to assign to Beneficiary, as requested
<br />by Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or
<br />materials to maintain or improve the Property.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of
<br />the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation
<br />of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right is subject to
<br />the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This covenant shall run with
<br />the Property and shall remain in effect until the Secured Debt is paid in full and this Security
<br />Instrument is released.
<br />10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Trustor will keep the Property
<br />in good condition and make all repairs that are reasonably necessary. Trustor shall not commit or
<br />allow any waste, impairment, or deterioration of the Property. Trustor will keep the Property free of
<br />noxious weeds and grasses. Trustor agrees that the nature of the occupancy and use will not
<br />substantially change without Beneficiary's prior written consent. Trustor will not permit any change in
<br />any license, restrictive covenant or easement without Beneficiary's prior written consent. Trustor will
<br />notify Beneficiary of all demands, proceedings, claims, and actions against Trustor, and of any loss or
<br />damage to the Property.
<br />Beneficiary or Beneficiary's agents may, at Beneficiary's option, enter the Property at any reasonable
<br />time for the purpose of inspecting the Property. Beneficiary shall give Trustor notice at the time of or
<br />before an inspection specifying a reasonable purpose for the inspection. Any inspection of the
<br />Property shall be entirely for Beneficiary's benefit and Trustor will in no way rely on Beneficiary's
<br />inspection.
<br />11. AUTHORITY TO PERFORM. If Trustor fails to perform any duty or any of the covenants
<br />contained in this Security Instrument, Beneficiary may, without notice, perform or cause them to be
<br />performed. Trustor appoints Beneficiary as attorney in fact to sign Truster's name or pay any amount
<br />necessary for performance. Beneficiary's right to perform for Trustor shall not create an obligation to
<br />perform, and Beneficiary's failure to perform will not preclude Beneficiary from exercising any of
<br />Beneficiary's other rights under the law or this Security Instrument. If any construction on the
<br />Property is discontinued or not carried on in a reasonable manner, Beneficiary may take all steps
<br />necessary to protect Beneficiary's security interest in the Property, including completion of the
<br />construction.
<br />12. ASSIGNMENT OF LEASES AND RENTS. Trustor irrevocably assigns, grants and conveys, to
<br />Trustee, in trust for the benefit of Beneficiary as additional security all the right, title and interest in
<br />the following (all referred to as Property): existing or future leases, subleases, licenses, guaranties and
<br />any other written or verbal agreements for the use and occupancy of the Property, including any
<br />extensions, renewals, modifications or replacements (all referred to as Leases); and rents, issues and
<br />profits (all referred to as Rents). In the event any item listed as Leases or Rents is determined to be
<br />personal property, this Assignment will also be regarded as a security agreement. Trustor will
<br />promptly provide Beneficiary with copies of the Leases and will certify these Leases are true and
<br />correct copies. The existing Leases will be provided on execution of the Assignment, and all future
<br />Leases and any other information with respect to these Leases will be provided immediately after they
<br />are executed. Trustor may collect, receive, enjoy and use the Rents so long as Trustor is not in
<br />default.
<br />Upon default, Trustor will receive any Rents in trust for Beneficiary and will not commingle the Rents
<br />with any other funds. Trustor agrees that this Security Instrument is immediately effective between
<br />Trustor and Beneficiary and effective as to third parties on the recording of this Assignment. As long
<br />(page 3 of 9)
<br />n1994 Wolters Kluwer Financial services -Bankers Systen-dnl Farm USAAREOT-NE 6/15/2007
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