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200403671
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200403671
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Last modified
10/16/2011 2:51:10 PM
Creation date
10/21/2005 12:39:55 AM
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DEEDS
Inst Number
200403671
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200403671 <br />Section 3.3 Payment and Performance. Grantor shall pay the <br />Indebtedness when due under the Note Documents and shall perform or cause the <br />Borrowers to perform the Obligations in full when they are required to be performed. <br />Section 3.4 Replacement of Fixtures. Grantor shall not, without the <br />prior written consent of Beneficiary, permit any of the Fixtures to be removed at any time <br />from the Land or Improvements, unless the removed item is removed temporarily for <br />maintenance and repair or, if removed permanently, is obsolete and is replaced by an <br />article of equal or better suitability and value, owned by Grantor subject to the liens and <br />security interests of this Deed of Trust and the other Note Documents, and free and clear <br />of any other lien or security interest except such as m ay b e p ermitted under the Loan <br />Agreement or first approved in writing by Beneficiary. <br />Section 3.5 Inspection. Subject to the terms of the Loan Agreement, <br />Grantor shall permit Beneficiary and its agents, representatives and employees to inspect <br />the Trust Property and all books and records of Grantor located thereon, and to conduct <br />such environmental and engineering studies as Beneficiary may require. Provided that no <br />Event of Default exists, all such testing and investigation shall be conducted at reasonable <br />times and upon reasonable prior notice to Grantor. Beneficiary shall restore the Trust <br />Property to the condition it was in immediately prior to such testing and investigation. <br />Section 3.6 Other Covenants. All of the covenants in the Loan <br />Agreement are incorporated herein by reference and, together with covenants in this <br />Article 3, shall, to the extent applicable, be covenants running with the land. <br />Section 3.7 Condemnation Awards and Insurance Proceeds. <br />(a) Condemnation Awards. Grantor, immediately upon <br />obtaining knowledge of the institution of any proceedings for the condemnation of the <br />Trust Property or any portion thereof, w ill notify Beneficiary of the pendency o f such <br />proceedings. Except as set forth in the Loan Agreement, Beneficiary may participate in <br />any such proceedings and Grantor from time to time will deliver to Beneficiary all <br />instruments requested by it to permit such participation. Grantor assigns all awards and <br />compensation to which it is entitled for any condemnation or other taking, or any <br />purchase in lieu thereof, to Beneficiary and authorizes Beneficiary to collect and receive <br />such awards and compensation and to give proper receipts and acquittances therefor, <br />subj ect t o t he t erms o f t he Loan Agreement. G rantor h ereby waives all rights to such <br />awards and compensation described in the foregoing sentence. Grantor, upon request by <br />Beneficiary, shall make, execute and deliver any and all instruments requested for the <br />HALL COUNTY, NE 5 <br />LA 1 570091 v2 <br />
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