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<br /> ' A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br /> the use and occupancy of any portion of the Property, including any extensions, renewals, modifications or
<br /> substitutions of such agreements (all referred to as Leasesl.
<br /> B. Rents, issues and profits (all referred to as Rents), including but not timited to security deposits, minimum
<br /> rent, percentage rent, additional rent, common area maintenance charges, parking charges, real estate taxes,
<br /> other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation
<br /> premiums, "loss of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts,
<br /> contract rights, general intangibles, and all rights and claims which Grantor may have that in any way pertain
<br /> to or are on account of the use or occupancy of the whole or any part of the Property.
<br /> In the event any item listed as Leases or Rents is determined to be personal property, this Security Instrument
<br /> will also be regarded as a security agreement.
<br /> Grantor will promptly provide Lender with true and correct copies of all existing and future Leases. Grantor may
<br /> collect, receive, enjoy and use the Rents so long as Grantor is not in default. Except for one lease period's rent,
<br /> Grantor will not collect in advance any future Rents without Lender's prior written consent.
<br /> Upon default, Grantor will receive Rents in trust for Lender and Grantor will not commingle the Rents with any
<br /> other funds. �mounts collected will be applied at Lender's discretion to payments on the Secured Debts as
<br /> therein provided, to costs of managing, protecting and preserving the Property and to any other necessary
<br /> related expenses including Lender's attorneys' fees and court costs.
<br /> Grantor agrees that this assignment is immediately effective between the parties to this Security Instrument and
<br /> effective as to third parties on the recording of this Security Instrument. This assignment will remain effective
<br /> until the Secured Debts are satisfied. Grantor agrees that Lender is entitled to notify Grantor or Grantor's
<br /> tenants to make payments of Rents due or to become due directly to Lender after such recording, however,
<br /> Lender agrees not to notify Grantor's tenants until Grantor defaults and Lender notifies Grantor of the default
<br /> and demands t��at Grantor and Grantor's tenants pay all Rents due or to become due directly to Lender. On
<br /> receiving the notice of default, Grantor will endorse and deliver to Lender any paynients of Rents.
<br /> Grantor warrants that no default exists under the Leases or any applicable landlord law. Grantor also agrees to
<br /> maintain, and to require the tenants to comply with, the Leases and any applicable law. Grantor will promptly
<br /> notify Lender of any noncompliance. If Grantor neglects or refuses to enforce compliance with the terms of the
<br /> Leases, then Lender or Trustee may opt to enforce compliance. Grantor will obtain Lender's written
<br /> authorization before Grantor consents to sublet, modify, cancel, or otherwise alter the Leases, to accept the
<br /> surrender of the Property covered by such Leases (unless the Leases so require►, or to assign, compromise or
<br /> encumber the Leases or any future Rents. If Lender acts to manage, protect and preserve the Property, Lender
<br /> does not assume or become liable for its maintenance, depreciation, or other losses or damages, except those
<br /> due to Lender's gross negligence or intentional torts. Otherwise, Grantor will hold Lender harmless and
<br /> indemnify Lender for any and all liability, loss or damage that Lender may incur as a consequence of the
<br /> assignment uncler this section. :
<br /> 14. DEFAULT. Grantor will be in default if any of the following occur: :
<br /> A. Payments. Grantor fails to make a payment in full when due.
<br /> B. Insolvency or Bankruptcy. Any legal entity obligated on the Secured Debts makes an assignment for the :
<br /> benefit of crec�itors or becames insolvent, either because its liabilities exceed its assets or it is unab{e to pay
<br /> its debts as they become due; or Grantor petitions for protection under federal, state or local bankruptcy,
<br /> insolvency or debtor relief laws, or is the subject of a petition or action under such laws and fails to have the
<br /> petition or action dismissed within a reasonable period of time not to exceed 60 days.
<br /> C. Business Termination. Any legal entity that has agreed to be obligated on the Secured Debts merges,
<br /> dissolves, reorganizes, ends its business or existence, or a partner or majority stockholder dies or is declared
<br /> incompetent. :
<br /> D. Failure of Condition or Term. Grantor fails to pay, or perform any condition or to keep any promise or
<br /> covenant on this or any debt or agreement Grantor has with Lender. :
<br /> E. Misrepresentation. Grantor makes any verbal or written statement or provides any financial information
<br /> that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
<br /> F. Judgment. Grantor fails to pay or discharge a judgment against Grantor for the payment of money, unless
<br /> within ten days of its entry the judgment is either satisfied or a stay of enforcement is granted pending
<br /> appeal.
<br /> G. Forfeiture. The Property is used in a manner or for a purpose which threatens confiscation by a legal
<br /> authority.
<br /> H. Name Change. Grantor changes Grantor's name or assumes an additional name without notifying Lender
<br /> before maki�g such a change. :
<br /> I. Property Transfer. Grantor transfers all or a substantial part of Grantor's money or property.
<br /> J. Material Change. Without first notifying Lender, there is a material change in Grantor's business, including
<br /> ownership, management, and financial conditions. :
<br /> K. Other Instruments. A default occurs under the terms of any instrument evidencing or pertaining to the :
<br /> Secured Debts.
<br /> L. Insecurity. Anything else happens that causes Lender to reasonably believe that Lender will hav,e difficulty
<br /> collecting the amount owed under the terms of the Secured Debts or significantly impairs the value of the
<br /> Property.
<br /> 15. REMEDIES. Lender may use any and all remedies Lender has under state or federal law or in any instrument :
<br /> evidencing or pertaining to the Secured Debts, including, without limitation, the power to sell the Property. Any
<br /> amounts advanced on Grantor's behalf will be immediately due and may be added to the balance owing under :
<br /> the Sec�red Debts. Lender may make a claim for any and all insurance benefits or refunds that may be available
<br /> on Grantor's default.
<br /> Subject to any right to cure, required time schedules or other notice rights Grantor may have under federal and
<br /> state law, Lender may make all or any part of the amount owing by the terms of the Secured Debts immediately
<br /> due and foreclose this Security Instrument in a manner provided by law upon the occurrence of a default or
<br /> anytime thereafter. :
<br /> J AND D COMPANY LLC �
<br /> Nebreska Deed Of Trust Initials�
<br /> NEl2nsonj05AA000000000000007 A0000001 Bn2 �'1996 Bankers Systems,Inc.,St.Cloud,MN Page 3
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