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rights in and to water, water stock, gas, oil, minerals, coal and other substances of any kind or character
<br />underlying or relating to the Premises or any part thereof, (7) all property tax refunds payable with respect
<br />to the Mortgaged Property (the "Tax Refunds "), (8) all accessions, replacements and substitutions for any
<br />of the foregoing and all proceeds thereof (the "Proceeds "), (9) all awards, damages, remunerations,
<br />reimbursements, settlements or compensation hereafter to be made by any governmental authority
<br />pertaining to any condemnation or other taking (or any purchase in lieu thereof) of all or any portion of
<br />the Land, Improvements, or Fixtures (the "Condemnation Awards "), (10) rights of first refusal and
<br />options to purchase or lease the Premises or the Improvements or any portion thereof or interest therein,
<br />(11) proceeds of insurance in effect with respect to the Mortgaged Property (the "Insurance Awards "),
<br />and (12) plans and specifications, designs, drawings and other matters prepared for any construction on
<br />the Premises or regarding the Improvements.
<br />"Obligations" shall refer to the payment of all indebtedness and performance of all obligations
<br />and covenants of Grantor pursuant to that certain Promissory Note, which is dated as of the date of this
<br />Deed of Trust and made by Grantor in favor of Beneficiary, with an original principal amount of ONE
<br />MILLION THREE HUNDRED THOUSAND DOLLARS ($1,300,000.00) and a maturity date of August
<br />_, 2018 (the "Note ") according to its terms, and all extensions, renewals and modifications thereof.
<br />ARTICLE 2
<br />GRANT
<br />Section 2.1 Grant To secure the full and timely payment and performance of the Obligations,
<br />Grantor GRANTS, BARGAINS, ASSIGNS, SELLS, RELEASES, ALIENATES, TRANSFERS,
<br />WARRANTS, DEMISES, PLEDGES, CONVEYS and CONFIRMS, to Trustee the Mortgaged Property,
<br />subject, however, only to Permitted Encumbrances (as such term is defined in Section 3.2 below), TO
<br />HAVE AND TO HOLD the Mortgaged Property, IN TRUST WITH POWER OF SALE, for the benefit
<br />and security of Beneficiary, under and subject to the terms and conditions hereinafter set forth, and
<br />Grantor does hereby bind itself, its successors and assigns to WARRANT AND FOREVER DEFEND the
<br />title to the Mortgaged Property unto Trustee against all claims and demands whatsoever other than
<br />Permitted Encumbrances.
<br />ARTICLE 3
<br />WARRANTIES AND REPRESENTATIONS
<br />Grantor represents and warrants to Beneficiary as follows:
<br />4837 - 9099 - 7551.5
<br />(a)
<br />the lien of this Deed of Trust;
<br />4
<br />20160535
<br />Section 3.1 Lien Status. This Deed of Trust, when duly recorded in the register of deeds office in
<br />the county in which the Premises is located, will create a valid and enforceable lien upon and security
<br />interest in all of the Mortgaged Property prior to all liens or encumbrances other than Permitted
<br />Encumbrances, except as such enforceability may be limited by bankruptcy, insolvency, fraudulent
<br />conveyance, reorganization, moratorium and other similar laws affecting creditors' rights generally or by
<br />general equitable principles, whether considered in a proceeding at law or in equity and by an implied
<br />covenant of good faith and fair dealing. For purposes of this Deed of Trust, the "Permitted
<br />Encumbrances" shall refer to the following:
<br />(b) the lien of a deed of trust securing a $6,600,000 loan made by Farm Credit
<br />Services of America to Grantor;
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