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<br /> " or obsolete, pmvlded that such personal property ia replaced with other persannl property at leust equal ln value to the
<br /> , replaced FerconN property, ftee from aay tItle retendoa device. security oareccnent or other encumbrance. Sucd „ _
<br /> 'j repiscement of persoaal propeny will be deemed subject to the securtry interest creuted by this Decd of Trust.Ttusror ehull
<br /> not partitlon or subdivide the Property wIthout Beneticiary's nrlor written wnsent. Beneftctary or �eneficlAry's uIIent� , �-
<br /> mny, at Heneflcinry's aption. enter the Properry at any reasonable time for tho pucposQ of lnepecting the Property. Any ,
<br /> lnspection oP the Property shall he entirely for Heneficfury's beneflt and Troator wl11 in no wny mly on Beneflciury's
<br /> iaspection. . � .
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<br /> 13,A[ITHORITY TO PERTORM.If Trustor fails to perform any of Tiuswr's dutles under this Aeed of Trust,or r�ry other � �.
<br /> ° �' moctgage,deed of uust,secvrity agrcement ot other Ilen document that bas pdority over this Deed of Trust, Beneticinry � "
<br /> ' may,without notice,perform the duties or cause them to be psrformed.Ttustor appoints Beneticiary as attorney in fact to ,
<br /> �� sign Ttustor's name or pay any amount necessary for perfom�ance. If any constcuctlon on the Property is discontinued or .
<br /> not carried on in a reasonable manner.Beaeficisry taay do whatever ie necessary to protect Beneficiary's security interest :� y
<br /> in the Property.This may iaclude completing the coastruction. �,.��'��
<br /> �� ....._
<br /> Beneficiary's right to perform for Truswr shall aot create an abl3gation to perform, aad Beneticiary's failure to perform • -�"°�`�=-�:
<br /> will not preclude Beaeficiary from exercisiag nny of Beneficiary's other rights under tlie luw or this Deed of Trust. Any . "`'•'`�`��`
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<br /> . amounte paid by Beneficiary for iasuring. pneserving or oth�cwise pmtecttng the Progerty and �eeneficiary's sacutlry +,'�;���`"
<br /> iaterest will be due on demand and will bear intesest from the date of the payment until paid in full at the interest rate in �;-
<br /> , , ;� effert from time to ttme accordiag to tfie terms of the Evidence of Debt. �° --
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<br /> 14,AS3IGIVMEPiT OF 1LEAS�AI+T�LtE1VTS.Trustor irmvocably�rants,conveye and se11s as additlonel cecurlty all the ` ��;r
<br /> '' � rflght.tide sud intemst in and w any and all: � .:�---
<br /> ., A. Existtng or fircure leases,subleases,lnoPnses,guarandes end aay other wrttten or verbul agree��nta for the use and ;,. . i'` '��.
<br /> y occu an of aa portion of the Pro 2 iacludin aa eatenatoas, reaewels, modiftcations or substitutions of r_�•�. ��_
<br /> P �Y Y V 1'�Y• 8 Y 1;1;-�.:..
<br /> such agceements(all referned to as"Lcases"). � ,, -
<br /> B. �@ents.issues and pro8ts(all referred to as"Renta").including but not limited to secudty depaslts,minimum rent. u�:�?3�*
<br /> .'� pecr.entage mat. additIonal rent, common area mainteneuce cha�ges, Parkit►g charges� real estate taxes� oWer ,��:s...:
<br /> . appllcable taaes, insurance premium contributions, liquidated damages followiag 8efault, caaccllatioa premiwns, -
<br /> •� , �� "loss of rents" insurance.revenues.roy�ties.Proceeds.bonuses.and all rights and claims�vhich Trustor may have �"_`:�
<br /> that in aay way pertains to or is on uccoitnt of the use or oocupancy of the whole or any part of the Ptoperty. '�'='"'�`"
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<br /> �'%��� Ttustor will prompdy provlde BeneflcIary with uue and correst copies of all existing amd future Lxase.s. Tniswr may _ _
<br /> _ �,:, _
<br /> _ .;`�1�;;r�{ co3iect.receive.eqloy aud use ihc s�c�xii�ui,Ioug�s Ta�siar is not in Qcfautt.Tasstor w4!!r.�t�_�ll±�t in�uivance aay Rents , -
<br /> ', �. due in future lease periods, unleas T�vstor t3rst obtains Beneficlery's written coaseat. Upon default.Tmstor wiit receive
<br /> . � any Rents in tn�s¢foz 1Beneficiary aud Trustor wi11 not commingle the Rents with any other fi�nds.Aaay amounts coUected --
<br /> ehall be applied at ID�neficiary's diectedon to paymeats on the 5ecured B�ebt ae thenia provided,w�sts of managtng the
<br /> �, �,, Ptoperty� including, but not limited w. aU taxes, assessments�ipsuraace Prenaiums. rePaira� and commissions W rentel
<br /> ,;t �t agenes,and to eny other necessary related expenses iacludin�IIeneRciary's attomeys'fees.paralegal fees end court costs. ��
<br /> .. •�ii'����: ��,
<br /> . ,� Tcustor acknowledgas that tmis assignment is patfe�ted upoa the recording of thfs Dced of Truat an�l that BeaeficlFUy is �:,;-��
<br /> °�a,., endtled to nodfy any of Truator's tenants t� make paymeat of rents due or to become due to 13c^`z�¢faciary. However. �;,__�-
<br /> � Benefioiary agrees that oNy on default wlll �eneflciary aodfy Trustor and Tcustor's tenanta And nru�ce demand that all Q:w�_---"
<br /> � future Rents be patd dIrectly to Beneftciery. On receiviag the aottce of defauIt, 1':ustor will endorse and deliver to =_
<br /> Beneticlary r�ny payucents of Reat in Tn�stor's possession. �
<br />_ Tn�swr covenants thut no defsult eaista under the Leases or any applicable landlord law.Tnutor Wso covenants and agrees
<br /> . .t, eo mainta{a� aad to require the tenanta to comply wlth,the Leases aad anY apPlis�ble law.Ttustor witl prampdy notify
<br /> •. . �� 9eneficiary of any ns�ncompliance. If Trustor aeglects or refl�ses to enforce compRance wtth the teraas of the Leases.thea
<br /> .. Benofictary may, at Bene�iciary's opti9n, enforce compliance. Tiustor wi11 obta:n Beneficiary's written authorizatioa _---___
<br /> befare Trustor ooasente to sublat. raodify.cancel,or otherwise alter the Leases.to accr�t the sumender of the Property __
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<br /> cover�d by such Leases(unless the Leases sa require)�or tm assign.comPromise or e�cumber the Leases or any fl�ture
<br /> Rents. Tn�stor wil hold Beneficiary harmless and indemntf3► Benefiiciery for any end all ltability. loss or demnge that :
<br /> _ . Beneficlery may iac��r as a consequence of the assigninent under this secflon. ��t:��=-
<br /> r.,�—
<br /> , �� iS.CONDOMIIVIUMS; PLANNED UN1T DE�ELOPllSENTS. If the Property► includes a uait in a condominium or a "- ---
<br />� "'�'``��� planrted unit developmeat�Ttustor w311 perform all of Trustor's dutles under the coveaants.by-lawa.or regulations of the
<br /> ' �, a�sr;.,, �`.----
<br />- _ cmzdaminium or planaed unit developmeat. °_ _
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<br />� .' „ 16.DEFAUL'i'.Trwator wilt be in de�fault if aay af'the following occur: --=`_`=='
<br /> ;', y �. �Y P�obligated on the Secured Debt fatis to mnke payuient when due: !'`�_----
<br /> "' . 1�. A breaeh of aay term or covenant in this Deed of Trust,any pdor mortgege or any constntetion loan agceement, ,r.��;
<br /> �y, �a secautng or otherwise relatlang to the Secured ��+��
<br /> .,�_Y ' securi t or any other documeat evidenciag. guaraatyin�. � .��:T�ti.*;,
<br /> ;'s.:; . Debt;
<br /> „ C. 'Ihe mn�sing or fum�shing of any verbal or written representacioa,statement or warranry to Heneficiary that is felse '.;,r�
<br /> �' • or iacorP�ct im any material respect by 1'rustor or any person or enti2y obligated on the Secumd Debt; ::`^'
<br /> D. The deut9�,dissolution, appoinuaent of a receiver for.or appli�;t►cion of any debtor celief la�v to. Trustor or any • -`_.
<br /> - �;;:;':;�, � person or enttty oblfBated on the Secured Debt; � ''.�`
<br /> . ,r.•;'.� IE. A good faith bel#ef 6y IBeneflcIury nt any dme c�±;rt BeaeRciary is iasecu� e�mn�s cesgect to any person or endty► ,,--Y:
<br /> obligated on the Secu�A�ebt or that the prospect of any payinent ia impait�fl mr the Property ia itnpuired; �
<br /> F. A materaal adverse c6ange in Trustor's busiaesa including oa�ae1s2;3p,maasgement.and tinancinl condittons�which
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<br /> • ` � Beaefici�y in its opininn bCtieves impai�s the value of the PrapPCty or r�paymeet of the Secumd Deht;or � _,
<br /> ___---- - — - . . .. . ... --•-"---'-'-—W.I..�..�...t....nC Minlila amliltlP 1anA AT tA tltC _. ,
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<br /> t�. nny toan proc.eeas are usea mr a pu�pose mai wu�wuuwu«���,..�,......o...........o—� ---------- -- -- --- - ...
<br /> � convereion of wedauds to produce an agricultural commodity.as fiuther eapiained ia 7 C.F.R.Part 1940.Stibpart
<br /> " G.Bxhibit M. "
<br /> � 17. REM�DIES ON DEI�'AULT. In some instnnces, federal ead state law vvi11 require Heneflciary to pmvtde Tn�seor with
<br /> notice of the right to cure. mediatioa autices or other notices and may establis6 time schedules for foroclosure ac�lons. �
<br /> Subject to these limitattons. if aay, Heaeficiary may eccelerate the Secured Debt and foreclose this Deed of Trust in a �,
<br /> •• manner provtded by law if thia Truator is in default. •° .
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