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<br /> �S, fvents o-!OefouR. foch ol tAe 1c/low;ng occurrences s.':a/!eon;fitute an event cf defau/1 hcreunder, fhere:'v�aRer an 'Evenr o1 Delau��'J:
<br /> (�1 Any a��oun��sayabie under the CD/i,qations secuied by M�s Deed of Trusf is not pak'when due,alter giring eflecr to�r.y aF,lwablei
<br /> � grace pa.riod t.`.erein,
<br /> !bl Trus:or is otherx•iso in delav/t r.nde�tte lerms ot the O6Jigations,
<br /> !cl Tiustor lailz:o otrserve ar perlarm any o/N.�e covenants,agmrmenn,or condirions in this Deed ol Trt+st,
<br /> ldl Any rep•esen!etior.or warrenty incfuding,D-✓t na!lrmited to,+any wai►anty o/trtle made by Troata�in tAis Oted of Trtrst is(arlse or
<br /> , � meler.'a/!y m�:s:cading,c� t,
<br /> t'j leJ Trosto�se,7s o�cflnveys 1he Tivs!P,roperry,or any part therso!or any intesest rhercin,oi%s dives.ed nl its:it/c,or eny"�terest • �
<br /> �-} rhere:n,in any manner or wa y, whe'hsi voluntan7y oi inrohr�tsrily, withevt the prio�written censent of B�ne/ici�ry. �
<br /> 26. F+cce/en+t/on ol DeDt;Fonrc%sure.Upw�t'm xcwrence of any fve:�r o/Default,or eny r.me rhereal�er untJ such E�r.nr o7 pe%u/t is
<br /> , cured�o the satislarriRn of Be,ne�ciary,6en�frciary may,at its qvtion,deeFare ap Od'igatia�s srcured h.ere.hy rmmedi,yvtely due and payabJa
<br /> „ ar,d the same sha!/bear inte�est at the d�lault rate,i/eny,set lo�t3�in tde No�a nr tlre delaalt rote,rI any,ser forth�r.t�e mast recent
<br /> obli9arion eovered Dy the Gua:anry,or ofherwise et the Aighesr rare permenty by Prw;and,irrespecrive of wAather gene,ciary exerc;ses
<br /> seid aptrw�,it may,ot irs r�tron and in its sole discmaon, wi[wut any lurfhar notice a�drmand to a upon Tnutor,do one c+r mora of
<br /> thC folf6wiag;
<br /> (aJ Bene/iciary m.ay enre�:rppn, take posstssron�;manag�and operote Me Trust Prop.!rfy oi eny part Mereo%make repain and
<br /> alte�ations end do any a-.ts which Beneficiery a�eems propar ro profect the stcuriry lherosl,and cither with or witAout taking �
<br /> posression.in i[s own name,sue Far or orherwise cot�ecr and receive rcnts,issues snd pro3ts,inchrdmg tAose past due and unpaid,snd
<br /> apply the sarne,less costs an�espansns ol operation tnd coRC•ction,;ncn,c�n9 rr�sona6re anomeys'Iees snd Beneficinry's costs,upan
<br /> thr. Oblipe7ions sccured hereby a»d in suth arJer as BeneFrcis�a�sy determrne. Upon�eque3t ol Beneliceary, Trusro�shall assemble and �
<br /> shaf!mnke avaiiable ro Benrl"rcirry any ol•Me Trvst P,o/xrty w�ic.h has been re.�nove0. Fhe antertng ayon en�!tskinc�possession ol th.e
<br /> � Trust Moperty, the collffcfion ol any�ent�,issues anr!prolits,enc'tl,a app!ica:ion rhereof as alorcsa%d,shafl not curo o�waive arty
<br /> delsult thererafore or theres/ter occurrin�„w aflect arry rorite ol dcl�vlt or notice a!sal±hereundei or inva/idete any ac�C�e p�rsuant
<br /> �o any such notice./YOtwi�hsrending Benefrciary's tontinuence in�nssession.or recript snd app4catron ol rrnts,issues e��rolits.
<br /> Bene/iciary shall be en(iUec'ro exercise evary nyAt provrded lor in chis Oeed o/Trust oi by Isw upon oi afte:tha accurrence o�an Fvent
<br /> � ol dalaulr,incluCing the right fo ezer_'ise tt,e power ol tek.Any ol the actians rele.�rot!fo in thrs Section rnay bs taken by Bene;ir,iary at
<br /> � such rime es 8eneticisry rnay detsrmine witAour�egard ro fhe adepuacy of any secu.ify fo:fhe ODligations sec�red Aereb�•.
<br /> � � !bJ Beneliciary shall, w;thout rryard to rhe adc�uacy ol any secunry lo�fhe C1W;gations secured heie!�y,be entifled to the appcmfn:ent
<br /> of e receiver by any coun having jeur'sdatron, v+n�hour norice,ta rs�e possession ol,prptr.ct,s,�d mer.aya::� ,-nis�°roperry an,�f operate
<br /> � Ihe same e.;C colJect tht rents,-:ssuee an�orotipe tAemlrom.
<br /> � tcl Bc�rolitrary maN bring any ncrron r.o any cavrt vl competenr jurr'sdiction to lorotlose this Detd ol Trv.tf oi en/orce eny ol th�
<br /> � cnvenanrs hereoL
<br /> (d! Benehcisry may etecr to cause rhe Trusr Psopehty o�nny part th.ereot(o be sold unde�the power ol sale,end in such evenr,
<br /> Beneliciary or Trus�ee sha!/givs.such notice cl delavlt and nofrce ol ssl^ro eoch pany to this Deed ol Trust by meil at the eddress set
<br /> Iorth hernn and 3ny othcr.rotice wh;r.h mry be then reQv:red by iew. 7hereaffer,upon the expirstion oI such time and the giviny o(
<br /> such notice ol saie as may then be re�v;rM by:aw, Trusree,at rhe time and place sprcifie�by the nofice ol sale,shaU sell such Trusr
<br /> Properry,or uny parf the�eol specified by Be�eliciery et publx eucdi�n to the hr'ghest b�dder lor cash in lawful money ol the Unired
<br /> States of.arierrce. Upo.v receipt ol paymenr e/rhe twd yvice, Trusree shap a�pfy tha procecds in tAe lo/iowing o.Mer. (il ta the cost end
<br /> expen:es of exarcising the poa��o/seJe and ol t7e sa;e,rncludmq(ivf not!+�»iied fo, trustee's Ites ol not more tAan 5500,00 p/us
<br /> onc-ha//nl onc percenr o/the gross sMt price,avb re,-�spnaDlc�ttw,ey,'/eet,Iti!tc 7Ae ObGgMions,and(rir!the excess,il arty, to rhe
<br /> perrson or persons/egelly entiNed tJrereto.
<br /> All casts and expenses inc�rred by Beneliciary rin enlarcing eny right under this Deed of Tn�st,including wrfhout nmiletion,abstracl or ti�/e
<br /> .ees,appra;sal{ees,premiur.rs Jor t;tM insurence,atrorr.eys'/res urd covrr cosrs,sA+9 Ge and consrlrure OWigst;ons secured he�eby.
<br /> 27. Dutrer o/Trvstse. Trusto�agrees thar:
<br /> !sJ The durres and obligatrons ol Trusfee shel!be dettrmined solely by the express prov:sions ol this Deed ol Trust and 1 rusfce shall no�
<br /> Ge liabJr except lo;rAe prrformaxe o/ss,ch dutr'rs a;�d oWgauons as arc s1xcili�al"ry�ef loirh hr�ein,and no implied covr.nonts or
<br /> obliga�rons sAall be imppsed upon �rustee.
<br /> ib1 No prvvision ol trhis Deed ol Tiust ShaB repuire Trusree to eapmd oi nsk its�wn�,x�ds,or otherw;sa in�ur+rny linanciel obligalien in
<br /> tAa performance of eny ol its dutres hN,+unOe�,01 i/1 fhB Cx�IC1St O(2My OI ifS rilJA(S 0I POCYCfS,
<br /> (cl Tn�stee mry cvnsu�t with counse!oF its own cAoosing end the edvice ol su-:h counsel sha/J be full and tomp/ete authorizetion and
<br /> p�otecrion in rhe rospect o/eny ect�on tsken o�sulleved by ir hettwndri in goo0/sith and retiance lhereon,and
<br /> (dl Trus:ee shaG»or�f�aWe lor any�ction roken by i:in good/erth snd roasonaWy L+eGeveO by it to be authonzed or witr.in ias
<br /> disc+erion or riyhts oi powers confemrd upon i�Dy Mis Deed of Trvst.
<br /> ?F. Sxu�tY Agroement�r.d Frturo f,iVng, fipm tAe date o/its recpi�ng,this D�res ol T�vst sh�!!consbtute a secunty agreemon�nnd
<br /> Iixture filing mxie�fha provrsions rl the NcDraska Unilonn Con!mertbl Coc�e with respect fo th�so l;xrwes descnbed in rhr preambles he�eol
<br /> Ss cortstitufrng a part o/Me Trust Ptope/ty, tc�gether witA sll other property ol?'iuste.•,eithei slmilrW o�dlss�r,i/rr to U�o seme,nuw o�
<br /> Aereaffe�locete�f et or on the Trusf Proparty.for this purpose,rhe lal�aw,iig inlormation is ser Iorth: ,
<br /> fel Name and Addross ol Debtod7rustcu: fbJ IYame end Addir�s ol Se�cuied Pa�ty/BAneficiery:
<br /> Ste �I, Inc.
<br /> —P___ _ r7orwest Bank North llakota, National
<br /> _ A�sociati.on
<br /> _Obl 6th Street SE., Sui�e S Main Str°et and 2nd Avenue SW
<br /> �tir.ot, h'D 587��1 Minot, ND �8?O1
<br /> !c1 DeGtor's SociaJSecuriry,Number,Federa/TaxpayrerLD.�r�•rr;he�450427407 �
<br /> ldJ Tdr's d�icumen!cnvers qooc+s which are o�are ro�ecome frxturec. ,_
<br /> � !e! The name oJ the record owner of the Trtnr P.vnerfy;s the Debtar/Trostor descnbed above. ��
<br /> � �
<br /> 24. Fvtura Advances. BerzeFiciary,at BerFCciary's pption,prior to!u!/reconveya:rce ef the Trust Property t y Trusfe<to Tiustor,may make
<br /> Juturs advaixes fo Trustor.Such fut�re advar.;es, with inte�est therron,shaU be secured by t/us Deed of Trvst-A(no!ime sha//7he principa/
<br /> v-
<br /> amour.t of the Obligations so-cured Ay�hrs Or.M ol Trust,not vectuding sums advsnced to prater,t Nx security,exceed(he to[e/sam o!
<br /> s_23�,.4Ilfi�4�
<br /> Nothmg herem contained shatl impty any obl.�ge:ion on the part ol th.e 8enef•ciary to mzke any such edditiona�sCvances.
<br /> Rdrances o'd/sburaemer,ts made by Bene!iciary to protect the secunty,under the term.s her�of, whi!e discretionary,shal,'ro�De deemed to
<br /> be optional aAvances.
<br /> 30. Recanveyence. Upon payment ol aU GbJi�a!rons secured by Pnis Deed e/Tiust,Bene fciary sh�ll request Trusrer ro reconvey�ho TfU57
<br /> Propsrty and sha.�f surrender Shis Deed af Tnrsr and a?1 notES evidertcing Obligatiore sec�rec!by this Ueed of Trust to Trustee. Trus.'ee shal/
<br /> recon�ry the T.-usr Property voitln�ut warrrnty and wirhout charc�e to the person or penons legal/y entitled therero. Such yerson pr persons
<br /> shall pty aI1 custs c/recordation,iI any.
<br /> 31. J'ubstitute Tnnrae.Benel,�ciary,ac irs option,may ficm time to eime remove Trustee anAsppoint a Successor Trustee to any Tnrteo
<br /> appointed here�ndar by a.n msUUment recorded in the counry in wf�ich lhrs Dez�f ol Trusr rs recorded �thout ca�veyan^e of the Trosr
<br /> i'roperry, tfie Succrssor Trvstee shal/succeed to a:l tit�e,power and dvt.'es conferred upon TrtnFee hereir:end by applicsble law.
<br /> :.'?. IIG.c�eBenecwa Rights ol Bene,ridary. Senefic;ary may et any�ime end lram time to rime, �ti�hout nofice,consent to Phe meking n!any
<br /> plat of nc�Trusr Prooerty o:the cieat;on ol any essement theieon or eny c�ve�ants resrricting ssc or occupancy t�tiereo�or agree to alie�or
<br /> amNnd tlie temrc af tAis Deed o1 rivst.riny persona/properTy ranai�/n�upon�hn Tiust Proper.y after rhe Trust P�operty has been possessed
<br /> o�ccce�p�cd by Btrseliciery,rzs egenr o�any purchaser Jo/lowing Tivstee's sale o:forec%sure,or under any deed in[ieu o/Tnrstee's sa/e or
<br /> Icrecrosuie,she�bs conclusiveiy nresumrd 10 have been a6andarted by Tius;or.
<br /> 33. Trus;or hereby repuests that s copy o/any no(ice o/delau/f rnd nutice o/sa/e made or execused b�T.•usree pur,uanr to rhe orovisions
<br /> irereol be sent to Trus!or at its mtiling aNdress se�foiUr abave.
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