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201508468
<br />sums, and without prejudice to any of its other rights under this trust deed. This assignment will be
<br />construed to be a provision for the payment or reduction of the Obligations, subject to the Lender's
<br />option as hereinbefore provided, independent of the trust deed on the Property.
<br />Trustor and each of them further covenants and agrees with, or certifies and represents to
<br />Lender as follows:
<br />1. To pay all liens, judgments, or other assessments against the Property, and to pay when due all
<br />assessments, taxes, rents, utilities, fees, charges or encumbrances upon the Property or under any
<br />lease, permit, license, or privilege assigned to Lender as additional security to this trust deed, including
<br />those in or on public domain.
<br />2. To insure and keep insured all buildings and other improvements, including fixtures and attachments
<br />now on or hereafter placed on the Real Property to the satisfaction of Lender. Such insurance will
<br />contain an endorsement showing Lender as Beneficiary. On demand, Trustor will furnish said policies
<br />or proof of insurance to Lender and the insurance carrier shall be satisfactory to Lender. Trustor shall
<br />give written notice to Lender immediately of any claim or loss. Any sums so received by Lender may be
<br />applied in payment of any matured or unmatured Obligations secured by this trust deed, or at the
<br />option of Lender may be used to pay for reconstruction of the destroyed improvements. Such insurance
<br />will be in an amount at least equal to the lesser of the loan balance, the actual cash value of the
<br />Property, or the replacement cost of the Property, and will at a minimum, cover losses caused by fire,
<br />lightning, explosion, riot, aircraft, vehicles, vandalism, civil commotion, smoke, windstorm, and hail.
<br />Trustor will obtain and keep flood insurance in force to cover losses by flood as required by Lender and
<br />by the National Flood Insurance Act of 1968, as amended, and by regulations implementing the same.
<br />Trustor further agrees that Lender is not and will not be liable for any failure by Trustor or by any
<br />insurer, for whatever reason, to obtain and keep this insurance in force. Trustor shall give written notice
<br />to Lender immediately of any cancellation, termination or material modification of any such insurance. If
<br />Trustor fails to maintain the coverage described above, Lender may, at Lender's option, obtain
<br />coverage to protect Lender's rights in the Property according to the terms of this Trust Deed.
<br />3. To keep all buildings, fixtures, attachments, and other improvements now on or hereafter placed on
<br />the Real Property occupied and in good repair, maintenance, and condition and to neither commit nor
<br />permit any acts of waste or any impairment of the value of the Property. Trustor shall not remove or
<br />demolish any improvement without prior written approval of the Lender. Trustor shall give immediate
<br />notice to Lender of any material damage to or construction on or related to any of the Property. Lender
<br />may enter upon the Real Property to inspect the same or to perform any acts authorized herein or in the
<br />Loan Documents. Any inspections, reports or samples conducted by Lender shall be for their own use
<br />and benefit, and Lender shall not be required to disclose the results of any inspections to Trustor for
<br />any reason, regardless of whether Lender has done so on any other occasion unless Lender agrees to
<br />do so in a separate writing. Trustor is responsible for monitoring, preserving and inspecting the Property
<br />independently of Lender, and Lender makes no representation, statement or warranty regarding the
<br />accuracy of any inspection, reports or statements related to the Property's condition, quantity, or quality
<br />of any nature, and Trustor agrees it shall not rely upon statements related thereto made by a
<br />representative of Lender.
<br />4. That Trustor is, and shall continue to be, duly organized, validly existing and legally qualified to do
<br />business under the laws of the states in which Trustor operates, in compliance with federal, state and
<br />local laws or regulations, and have 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 since
<br />the time any such information was last provided to Lender. Any borrowing resolution or similar
<br />document provided to the Lender, whether on Lender's form or otherwise, has been executed by all
<br />those with an ownership interest in the Trustor's entity and such designated signor as set forth in the
<br />borrowing resolution is duly authorized to execute any and all Loan Documents on behalf the entity,
<br />including this trust deed.
<br />5. All known sources of existing or potential environmental contamination on or near any Real Property
<br />owned or operated by Trustor has been fully disclosed to Lender; the operations of Trustor comply, and
<br />during the term of this trust deed will at all times comply in all respects, with all environmental laws;
<br />Trustor has obtained and will maintain all licenses, permits, authorizations and registrations required
<br />App #: 5344252; CIF #: 177860; Note #: 3001011 220KS Legal Doc. Date: December 14, 2015
<br />FORM 5011, Trust Deed and Assignment of Rents Page 4 of 8
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