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201400247
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1/14/2014 3:25:59 PM
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DEEDS
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201400247
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201400247 <br />by it in good faith and reasonably believed by it to be authorized or within the discretion or rights of <br />powers conferred upon it by this Trust Deed or state law. <br />12. The integrity and responsibility of Trustor(s) constitutes a part of the consideration for the <br />obligations secured hereby. Should Trustor(s) sell, transfer, or convey the property described herein, <br />without prior written consent of Beneficiary, Beneficiary, at its option, may declare the entire <br />indebtedness immediately due and payable and may proceed in the enforcement of its rights as on any <br />other default. <br />13. That Trustor(s) is, and shall continue to be, duly organized, validly existing and legally qualified to <br />do business under the laws of the states in which Trustor(s) operates, in compliance with federal, state <br />and local laws or regulations, and has legal authority in such states to conduct Trustor(s) business <br />operations and to own agricultural real estate. No change has been made in the name, ownership, <br />control, relationship, legal status or organizational and formation documents of any undersigned <br />Trustor(s) since the time any such information was last provided to Beneficiary. <br />14. That if Trustor(s), or anyone signing this Trust Deed, is a limited liability company, that those <br />signing on behalf of said limited liability company constitute a majority of the managers or members <br />thereof, and that the execution of this Trust Deed is in the ordinary course of the limited liability <br />company's business and has been authorized by its members. <br />15. Assignment of Rents including Proceeds of Mineral Leases. Trustor(s) hereby assigns, transfers, <br />and conveys to Beneficiary all rents, royalties, bonuses, and delay moneys or other proceeds that may <br />from time to time become due and payable under any real estate lease or under any oil, gas, gravel, <br />rock, or other mineral lease of any kind including geothermal resources now existing or that may <br />hereafter come into existence, covering the property or any part thereof. All such sums so received by <br />Beneficiary will be applied to the indebtedness secured hereby; or Beneficiary, at its option, may turn <br />over and deliver to Trustor(s) or their successors in interest, any or all of such sums without prejudice to <br />any of Beneficiary's rights to take and retain future sums, and without prejudice to any of its other rights <br />under this Trust Deed. This assignment will be construed to be a provision for the payment or reduction <br />of the debt, subject to the Beneficiary's option as hereinbefore provided, independent of the lien on the <br />property. Upon payment in full of the debt and the reconveyance of this Trust Deed of record, this <br />assignment will become inoperative and of no further force and effect. <br />16. This Trust Deed constitutes a Security Agreement with respect to all the property described herein. <br />17. The covenants contained in this Trust Deed will be deemed to be severable; in the event that any <br />portion of this Trust Deed is determined to be void or unenforceable, that determination will not affect <br />the validity of the remaining portions of the Trust Deed. <br />Ronald gens Family Trust dated September 10, 2008 <br />By <br />Ronal G. Hargens, Trustee <br />App #: 5246940; CIF #: 109513; Note #: 204 220KS Legal Doc. Date: January 2, 2014 <br />FORM 5011, Trust Deed and Assignment of Rents Page 4 of 5 <br />
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