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20180723C constitutes a present assignment of leases and rents, Trustor may collect the Rents and manage the Premises, but only if and so long as a default has not occurred. If a default occurs, the right of Trustor to collect the Rents and to manage the Premises shall thereupon automatically terminate and such right, together with other rights, powers and authorizations contained herein, shall belong exclusively to Beneficiary. This assignment confers upon Beneficiary a power coupled with an interest and cannot be revoked by Trustor. Upon the occurrence of a default, Beneficiary, at its option without notice and without seeking or obtaining the appointment of a receiver or taking actual possession of the Premises may (a) give notice to any tenant(s) that the tenant(s) should begin making payments under their lease agreement(s) directly to Beneficiary or its designee; (b) commence a foreclosure action and file a motion for appointment of a receiver; or (c) give notice to Trustor that Trustor should collect all Rents arising from the Premises and remit them to Beneficiary upon collection and that Trustor should enforce the terms of the lease(s) to ensure prompt payment by tenant(s) under the lease(s). All Rents received by Trustor shall be held in trust by Trustor for Beneficiary. All such payments received by Beneficiary may be applied in any manner as Beneficiary determines to payments required under the Deed of Trust, the Loan Documents and the Obligations. Trustor agrees to hold each tenant harmless from actions relating to tenant's payment of Rents to Beneficiary. 2.13 Fixture Filing. From the date of its recording, the Deed of Trust shall be effective as a financing statement filed as a fixture filing under the Uniform Commercial Code with respect to the Improvements and for this purpose the name and address of the debtor is the name and address of Trustor as set forth in the Deed of Trust and the name and address of the secured party is the name and address of Beneficiary as set forth in the Deed of Trust. The Mortgaged Property includes goods which are or may become so affixed to real property as to become fixtures. 2.14 Compliance with Leases. Trustor will comply with all terms, covenants and conditions of any lease(s) affecting the Premises. Trustor will not accept any prepayment of rent for more than one month in advance, without the prior written consent of Beneficiary. ARTICLE III. RIGHTS AND DUTIES OF BENEFICIARY In addition to all other rights (including setoff) and duties of Beneficiary under the Loan Documents which are expressly incorporated herein as a part of the Deed of Trust, the following provisions will also apply: 3.1 Beneficiary Authorized to Perform for Trustor. If Trustor fails to perform any of Trustor's duties or covenants set forth in the Deed of Trust, Beneficiary may perform the duties or cause them to be performed, including without limitation signing Trustor's name or paying any amount so required, and the cost, with interest at the default rate set forth in the Loan Documents, will immediately be due from Trustor to Beneficiary from the date of expenditure by Beneficiary to date of payment by Trustor, and will be one of the Obligations secured by the Deed of Trust. All acts by Beneficiary are hereby ratified and approved, and Beneficiary will not be liable for any acts of commission or omission, nor for any errors of judgment or mistakes of fact or law. ARTICLE IV. DEFAULTS AND REMEDIES Beneficiary may enforce its rights and remedies under the Deed of Trust upon default. The following shall each constitute a default under the Deed of Trust: (A) Trustor (i) fails to comply with the terms of the Deed of Trust or any other Loan Document to which Trustor is a party, (ii) fails to comply with or defaults on any other mortgage or trust deed affecting the Land or (iii) dies, ceases to exist or becomes the subject of incompetency, bankruptcy or insolvency proceedings; (B) a default occurs under any other Loan Document or under any Obligation; (C) a demand for payment is made under any demand loan secured by the Deed of Trust; or (D) any other obligor fails to comply with the terms of any Loan Documents for which Trustor has given Beneficiary a guaranty or pledge, or if any other default occurs under the Loan Documents. Upon the occurrence of a default, without limitation of Beneficiary's other remedies, Beneficiary may declare the Obligations to be immediately due and payable. 4.1 Remedies. In addition to the remedies for default set forth below and in the other Loan Documents, including acceleration, Beneficiary upon default will have all other rights and remedies for default available by law or equity. Upon a default, Beneficiary may exercise the following remedies: (a) Enforcement of Assignment of Rents and Leases. Beneficiary may: (i) terminate the license granted to Trustor to collect the Rents (regardless of whether Beneficiary or Trustee shall have entered into possession of the Mortgaged Property), collect and sue for the Rents in Beneficiary's own name, give receipts and releases therefor, and after deducting all expenses of collection, including reasonable attorneys' fees, apply the net proceeds thereof to any Obligations as Beneficiary may elect; 04-004 ® us bancorp 2013 (rev. 2.2 - 02/2018) Page 4 312321, vers. 2