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(b) Insurance Proceeds.
<br />201502'75(
<br />replace or rebuild the Mortgaged Property to the extent practicable to be of at least equal
<br />value and of substantially the same character as prior to such Condemnation, all to be
<br />effected in accordance with applicable Law. Beneficiary may participate in any
<br />Condemnation proceeding and Grantor shall deliver to Beneficiary all documents,
<br />agreements and other instruments necessary or required by Beneficiary to permit such
<br />participation.
<br />In the event the Mortgaged Property is damaged or destroyed, in whole or
<br />in part, by fire or other casualty (a "Casualty "), Grantor shall give prompt notice
<br />thereof to Beneficiary. Following the occurrence of a Casualty, Grantor,
<br />regardless of whether insurance proceeds are available, shall promptly proceed
<br />to restore, repair, replace or rebuild the Mortgaged Property to be of at least
<br />equal value and of substantially the same character (subject to Grantor's right to
<br />restore portions of the Property used as cropland at the time of the grant of the
<br />Deed of Trust to grassland /prairie) as prior to such damage or destruction, all to
<br />be completed in accordance with applicable Law.
<br />Beneficiary shall apply all insurance proceeds received on account of any
<br />Casualty to costs of restoring the Mortgaged Property, with any unused proceeds
<br />applied to the payment of the Indebtedness:
<br />3.9 Transfer or Encumbrance of Mortgaged Property.
<br />(a) Without the prior written consent of Beneficiary, Grantor shall not (1) sell,
<br />transfer, convey, mortgage, pledge, or assign any interest in the Mortgaged Property
<br />except as permitted by the Loan Agreement (2) other than Permitted Liens, further
<br />encumber, alienate, grant a Lien or grant any other interest in the Mortgaged Property or
<br />any part thereof, whether voluntarily or involuntarily; or (3) except as permitted by the
<br />Loan Agreement, enter into any easement or other agreement granting rights in or
<br />restricting the use or development of the Mortgaged Property; and
<br />(b) As used in this Section, "transfer" shall include (i) an installment sales
<br />agreement wherein Grantor agrees to sell the Mortgaged Property or any part thereof for
<br />a price to be paid in installments; and (ii) an agreement by Grantor leasing all or a
<br />substantial part of the Mortgaged Property for other than actual occupancy by a space
<br />tenant thereunder or a sale, assignment or other transfer of, or the grant of a security
<br />interest in, Grantor's right, title and interest in and to any Leases or any Rents.
<br />(c) Beneficiary shall not be required to demonstrate any actual impairment of
<br />its security or any increased risk of default hereunder in order to declare the
<br />Indebtedness immediately due and payable upon Grantor's sale, conveyance,
<br />alienation, mortgage, encumbrance, assignment, pledge or transfer of the Mortgaged
<br />Property without Beneficiary's prior written consent. This provision shall apply to every
<br />sale, conveyance, alienation, mortgage, encumbrance, assignment, pledge or transfer of
<br />the Mortgaged Property regardless of whether voluntary or not, or whether or not
<br />Beneficiary has consented to any previous sale, conveyance, alienation, mortgage,
<br />encumbrance, assignment, pledge or transfer of the Mortgaged Property.
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