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<br /> discretion to the Secured Debts, the costs of managing, protecting and preserving the Property, and other
<br /> necessary expenses. Trustor agrees that this Security Instrument is immediately effective between Trustor
<br /> and Beneficiary and effective as to third parties on the recording of this Assignment.
<br /> As long as this Assignment is in effect, Trustor warrants and represents that no default exists under the
<br /> Leases, and the parties subject to the Leases have not violated any applicable law on leases, licenses and
<br /> landlords and tenants. Trustor, at its sole cost and expense, will keep, observe and perform, and require all
<br /> other parties to the Leases to comply with the Leases and any applicable law.
<br /> If Trustor or any party to the Lease defaults or fails to observe any applicable law, Trustor will promptly
<br /> notify Beneficiary. If Trustor neglects or refuses to enforce compliance with the terms of the Leases, then
<br /> Beneficiary may, at Beneficiary's option, enforce compliance. Trustor will not sublet, modify, extend,
<br /> cancel, or otherwise alter the Leases, or accept the surrender of the Property covered by the Leases (unless
<br /> the Leases so require) without Beneficiary's consent. Trustor will not assign, compromise, subordinate or
<br /> encumber the Leases and Rents without Beneficiary's prior written consent. Beneficiary does not assume or
<br /> become liable for the Property's maintenance, depreciation, or other losses or damages when Beneficiary
<br /> acts to manage, protect or preserve the Property, except for losses and damages due to Beneficiary's gross
<br /> negligence or intentional torts. Otherwise, Trustor will indemnify Beneficiary and hold Beneficiary harmless
<br /> for all liability, loss or damage that Beneficiary may incur when Beneficiary opts to exercise any of its
<br />' remedies against any party obligated under the Leases.
<br /> I 15. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Property includes a unit in a condominium or a
<br /> planned unit development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or
<br /> regulations of the condominium or planned unit development.
<br /> T6. DEFAULT. Trustor will be in default if any of the following occur:
<br /> A. Any party obligated on the Secured Debt fails to make payment when due;
<br /> B. A breach of any term or covenant in this Deed of Trust, any prior mortgage or any construction loan
<br /> agreement, security agreement or any other document evidencing, guarantying, securing or otherwise
<br /> relating to the Secured Debt;
<br /> I C. The making or furnishing of any verbal or written representation, statement or warranty to
<br /> Beneficiary that is fafse or incorrect in any material respect by Trustor or any person or entity
<br /> obligated on the Secured Debt;
<br /> i D. The death, dissolution, appointment of a receiver for, or application of any debtor relief law to,
<br /> Trustor or any person or entity obligated on the Secured Debt;
<br /> E. A good faith belief by Beneficiary at any time that Beneficiary is insecure with respect to any person
<br /> I or entity obligated on the Secured Debt or that the prospect of any payment is impaired or the
<br /> Property is impaired;
<br /> F. A material adverse change in Trustor's business including ownership, management, and financial
<br /> I conditions, which Beneficiary in its opinion believes impairs the value of the Property or repayment of
<br /> the Secured Debt; or
<br /> G. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly erodible
<br />� land or to the conversion of wetlands to produce an agricultural commodity, as further explained in 7
<br /> C.F.R. Part 1940, Subpart G, Exhibit M.
<br />� 17. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide
<br /> Trustor with notice of the right to cure, mediation notices or other notices and may establish time schedules
<br /> for foreclosure actions. Subject to these limitations, if any, Beneficiary may accelerate the Secured Debt
<br />� and foreclose this Deed of Trust in a manner provided by law if this Trustor is in default.
<br /> At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal
<br /> shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a
<br /> default or anytime thereafter. In addition, Beneficiary shall be entitled to all the remedies provided by law,
<br />� the Evidence of Debt, other evidences of debt, this Deed of Trust and any related documents including
<br /> without limitation, the power to sell the Property.
<br /> I If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the
<br /> Beneficiary, advertise and sell the Property as a whole or in separate parcels at publ�c auction to the highest
<br /> bidder for cash and convey absolute title free and clear of all right, title and interest of Trustor at such time
<br /> and place as Trustee designates. Trustee shall give notice of sale including the time, terms and place of sale
<br />' and a description of the property to be sold as required by the applicable law in effect at the time of the
<br /> proposed sale.
<br /> SecuritylnstrumenbCommercial/Agricultural-NE AGCO-RESI-NE 7/1/2017
<br /> VMP�Bankers SystemsrM VMP-0595�NE) (11071.00
<br /> Wolters Kluwer Financial Services OO 1993,2011 Page 5 of 10
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