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<br />existing hereunder. Subject to the License, Beneficiary may notify any person that the Leases have been
<br />assigned to Beneficiary and that all Rents are to be paid directly to Beneficiary, whether or not Beneficiary
<br />has commenced or completed foreclosure of or taken possession of the Property.
<br />Beneficiary may apply all amounts received by it pursuant to this assignment to pay any of the following in
<br />such order and amounts as Beneficiary deems appropriate: (1) Secured Obligations; (2) expenses of
<br />leasing, operating, maintaining and managing the Property, including without limitation, salaries, fees,
<br />commissions and wages of a managing agent and such other employees, agents or independent
<br />contractors as Beneficiary deems necessary or desirable; (3) taxes, charges, claims, assessments, any
<br />other liens, and premiums for insurance relating to the Property that Beneficiary deems necessary or
<br />desirable; and (4) the cost of alterations, renovations, repairs or replacements, and expenses incident to
<br />taking and retaining possession of the Property.
<br />ARTICLE 3 — SECURITY AGREEMENT/FIXTURE FILING
<br />Trustor grants Beneficiary a security interest in and pledges and assigns to Beneficiary all of Trustor's right,
<br />title and interest in all Property that may be characterized as personal property (the "Personalty"). Trustor
<br />authorizes Beneficiary to file any UCC financing statements required by Beneficiary, from time to time, to
<br />perfect Beneficiary's security interest in the Property.
<br />The address adjacent to Trustor's signature below, (a) if Trustor is an individual, is Trustor's principal
<br />residence; (b) if Trustor is other than an individual and has only one place of business, is Trustor's principle
<br />place of business; and (c) if Trustor is anything other than an individual and has more than one place of
<br />business, is Trustor's chief executive office. The address for Beneficiary in Article 7 is its address as
<br />secured party under the Uniform Commercial Code as adopted in the Governing Law State (the "UCC").
<br />This deed of trust constitutes a financing statement filed as a fixture filing under the UCC, covering any
<br />Property which now is or later may become a fixture attached to the Land or any Improvement. For this
<br />purpose, the "debtor" is Trustor, the "secured party" is Beneficiary and the collateral is the Property.
<br />ARTICLE 4 — SECURED OBLIGATIONS
<br />Trustor makes the grant, conveyance, transfer and assignment in Article 1, makes the irrevocable and
<br />absolute assignment in Article 2, and grants the security interest under Article 3 to secure payment and
<br />performance of the following obligations (individually and collectively, the "Secured Obligations"): (1) all
<br />Obligations (as defined in the Note); (2) all obligations of Trustor under this deed of trust; (3) all
<br />modifications, amendments, extensions, and renewals, however evidenced, of any of the Secured
<br />Obligations; and (4) any of the foregoing that arises after the filing of a petition by or against Trustor under
<br />an insolvency or bankruptcy proceeding.
<br />Future Secured Obligations. The Secured Obligations include future advances made by Beneficiary for
<br />any purpose, and all other future Secured Obligations. Those future advances and other future Secured
<br />Obligations, together with interest thereon, are secured by this deed of trust to the same extent as if made
<br />or incurred on the date of the execution of this deed of trust, and have priority as to third persons with or
<br />without actual notice from the time this deed of trust is filed for record as provided by law. The total amount
<br />of indebtedness secured by this deed of trust may decrease or increase from time to time, but the total
<br />unpaid balance so secured at any one time shall not exceed the maximum principal amount of
<br />$1,255,500.00 (the "Maximum Amount Secured"), plus interest and any disbursements made for the
<br />payment of taxes, levies or insurance on the Property, with interest on those disbursements, plus any
<br />increase in the principal balance as the result of negative amortization or deferred interest, or any other
<br />protective or other advances made by Trustee for the purposes of protecting its security hereunder. Trustor
<br />shall not file of record or serve Beneficiary with any notice limiting the maximum amount secured by this
<br />deed of trust to an amount less than the Maximum Amount Secured, as specified in this deed of trust, or if
<br />no such amount is specified, to any amount (a "Maximum Amount Notice"). Nothing in this Section will
<br />constitute a commitment to make additional or future advances in any amount.
<br />Harrenstein
<br />Deed of Trust, Assignment of Rents, Security Agreement, and Fixture Filing
<br />Loan no. 202190
<br />3
<br />Rev. 03.17.2017
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