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200011176
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Last modified
10/13/2011 11:00:59 PM
Creation date
10/20/2005 10:48:03 PM
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DEEDS
Inst Number
200011176
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(a) Name of Borrower (Debtor) <br />Address of Borrower: <br />(b) Name of Lender (Secured Party) <br />Address of Lender: <br />(c) Record Owner of Real Estate <br />Described on Exhibit A hereto: <br />200011179 <br />PROFFUTT LIMITED PARTNERSHIP <br />1600 Radisson Tower <br />201 Fifth Street North <br />Fargo, North Dakota 58102 <br />GENERAL ELECTRIC CAPITAL <br />BUSINESS ASSET FUNDING <br />CORPORATION <br />10900 Northeast Fourth Street, Suite 500 <br />Bellevue, Washington 98004 <br />Attention: Real Estate Department <br />:•..ST <br />15. LEASES OF THE PROPERTY. As used in this Section 15, the word <br />"Lease" shall include subleases if this Instrument is on a leasehold. Borrower shall comply with <br />and observe Borrower's obligations as landlord under all Leases of the Property or any part <br />thereof. All Leases now or hereafter entered into will be in form and substance subject to the <br />approval of Lender. Borrower shall pay all attorneys' fees incurred by Lender in reviewing any <br />Lease or proposed Lease. All Leases of the Property shall specifically provide that such Leases <br />are subordinate to this Instrument; that the tenant attorns to Lender, such attornment to be <br />effective upon Lender's acquisition of title to the Property; that the tenant agrees to execute such <br />further evidences of attornment as Lender may from time to time request; that the attornment of <br />the tenant shall not be terminated by foreclosure; and that Lender may, at Lender's option, accept <br />or reject such attornments (except as to third -party credit tenants unrelated to Borrower, as to <br />which Lender shall grant a non - disturbance provision). Borrower shall not, without Lender's <br />written consent, request or consent to the subordination of any Lease of all or any part of the <br />Property to any lien subordinate to this Instrument. If Borrower becomes aware that any tenant <br />proposes to do, or is doing, any act or thing which may give rise to any right of set -off against <br />rent, Borrower shall (i) take such steps as shall be reasonably calculated to prevent the accrual of <br />any right to a set -off against rent, (ii) immediately notify Lender thereof in writing and of the <br />amount of said set -offs, and (iii) within ten (10) days after such accrual, reimburse the tenant <br />who shall have acquired such right to set -off or take such other steps as shall effectively <br />discharge such setoff and as shall assure that Rents thereafter due shall continue to be payable <br />without set -off or deduction. Upon Lender's receipt of notice of the occurrence of any default or <br />violation by Borrower of any of its obligations under the Leases, Lender shall have the <br />immediate right, but not the duty or obligation, without prior written notice to Borrower or to any <br />third party, to enter upon the Property and to take such actions as Lender may deem necessary to <br />cure the default or violation by Borrower under the Leases. The costs incurred by Lender in <br />13 <br />01- 288814.04 <br />Grand Island, NE <br />
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