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<br /> discretion to �he Secured Deb�s, the cosfis of managing, protecting and preser�ing the P�vperty, and other
<br /> necessary expenses. Trustor agrees �ha� this Security Ins�rumen� is immediately effecti�e between TrustQr
<br /> and Beneficiary and ef�ec#i�e as�o third par�ies on the recording �f this Assignment.
<br /> As long as �his Assignment is in effe�t, Trustor warrants and represents that no default exis�s under �he
<br /> Leases, and �he par�ies sub�ect to the Leases ha�e not �iolated any app�i�ab�e �aw an leases, licenses and
<br /> landlords and tenantss Trus�or, at its sole cost and expense, wi�l keep, ❑bser�e and perfvrm, and require ai�
<br /> o�he� parties to the Leases ta comply with the Leases and any applicable �aw.
<br /> If Trustor or any party to the Lease defaults or fails to ohser�e any app�icable �aw, Trustor will promp�ly
<br /> notify Benefic�ary. �f Trustor ne�lects or refuses to enforce c�mpliance wi�th the terms �� the Leases, then
<br /> genef�ciary may, at Benef�ciary s option, enfvrce c�mpliance, Trus�or will not sublet, modify, extend,
<br /> can�el, or o�h�rwise alter �he Leases, or accept th� surrender of the Prope�ty co�er�d by �he Leases �unless
<br /> the L�ases so require� wi�hou� Bene�iciary's cons�nt. Trus�or will nat assign, compromise, subord�nate or
<br /> encumber the Leases and Rents withau� Benef�ciary's prior written �onsent. Beneficiary does no� assume or
<br /> b�came liab�e for the Property's ma�ntenance, depreciation, vr other losses or damages wh�n Beneficiary
<br /> acts ta manage, pratec� or preser�e the Property, except fa� Insses and damages due ta Benefi�iary's gross
<br /> neg�igence ar intentional tarts. �therwise, Trus�or will indemnify Benefi�iary and hold Benef�ciary harmless
<br /> far all liability, I�ss or damage �ha� Beneficiary may incur when Beneficiary Qpts �o exercise any a� i�s
<br /> remed�es against any party vbligated under the Leases.
<br /> 'i 5. �C3ND�MiN1U1VIS; PLA�[NED UN1T DEVEL�PMENTS. lf the Pr�perty inc�udes a unit in a condvminium or a
<br /> planned uni� deWel�pment, Trustar will perform all of Trusto�'s duties unde� the co�enants, by-laws, or
<br /> regulations of the condominium or planned unit de�elopment.
<br /> 'i�. DEFAULT. Trustor will be in default if any �f�he fallowing occur:
<br /> A. Any party o�ligated on the Secured ❑eb�fails tv mak� paymen� when due;
<br /> B, A b��ach of any term or co�enan� in �h�s Deed of Trus�, any prior mortgage or any �onstruction �aan
<br /> ag�eemen�, secur�ty agreemenfi or any other document e�idencing, guaran�y�ng, securing or otherrrvise
<br /> relating to the Secured Deb�;
<br /> C, The making or furnish�ng of any �erba� or written representation, statement or warranty to
<br /> Beneficiary that is fa�se or incorrec� in any material respect by Trustor or any person or entity
<br /> ab�igated an th� 5ecured ❑eb�;
<br /> D. The death, dissolutivn, appoinfiment of a recei�er for, ar applica�ion ❑f any debtor reiief law �o,
<br /> Trustor or any person or en�ity obligated on the Secured Debt;
<br /> E, A good faith belief by Bene#�ciary at any time that Ben�ficiary is insecure with respec� to any pet�snn
<br /> or entity obl�gated an the 5ecured Debt or that the prospect a� any paymen� is impa�red or the
<br /> Property is �mpaired; .
<br /> F, A rnateriai ad�erse change in Trus�or's business including ownership, management, and f�nancial
<br /> c�ndi�ions, which Beneficiary in ��s opinion helie�es impairs the �alue o# �he Praper�y or r�payment af
<br /> the Secured ❑e��; or
<br /> G. Any loan proceeds are used f�r a purpose �hat will contribute to excessi�e erosion �f highly ervd�ble
<br /> land or to the conversion o� wetlands to produce an agricu�fiUral cnmmodity, as further explained in 7
<br /> C,F,R. Part �94�, Subpart G, Exhibi� M.
<br /> '17. REMED[ES �N DEFAULT, In som� instances, federa� and state �aw wil� �equire Beneficiary to pro�ide
<br /> Trustor w�th notice af the right to cure, mediation notices vr other nofiices and may estab��sh time schedules
<br /> far foreclosure actions, SUbject to these limita�ions, if any, Beneficiary may accelerate the 5ecured ❑ebt
<br /> and foreclose this Deed of Trust in a manner pra�ided by law if fhis Trus�or is in default,
<br /> At �he op�i�n of geneficiary, a1l or any part of the agreed fees and charges, accrued in�erest and principai
<br /> shall becvme immediately due and payable� aft�r gi�ing natic� if requ�red by l�enr, upon the acc�!rr�nce vf a
<br /> default ar anytim� thereafter, �n add��ion, Ben�ficiary shall be en�it��d to a�� �he remedies pro�ided by law,
<br /> the E�idence of Deb�, other e�idences of d�bt, �his De�d �f Trust and any related dacumen�s inGluding
<br /> withou� lim��ation, �he power to sel��he Proper�y.
<br /> If there is a defaulf, Trus�ee shali, in addition to any othe� permi�ted remedy, at the request of the
<br /> Benefic�ary, ad�ertise and sell the P�operty as a whole or in sepa�ate parcels at public aU�tifln to the highest
<br /> bi�de�for cash and con�ey absolute title free and clear of ail right, title and inter�st af Trustor at such time
<br /> and place as Trustes desi�nates, T�ust�e shall g��e no�ice of sale including the t�m�, terms and place of sale
<br /> and a descrip�ivn o� the property �o be sold as required by the appiicable la� in effect a� the time ofi the
<br /> propased sale.
<br /> Security lnstrument-CvmmerciallAgriaultural-N� AGCD-R�51-N� 7I11247�
<br /> VMPC�Bankers SystemsT� VMP-0595tN�� �11D7j.QQ
<br /> Waltsrs Kluwer�inancial 5er�ices 0�993,2011 Page 5❑f j D
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