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<br />restrictions imposed by federal law (12 CAR. 5911, as applicable. For the purposes at this section, the term
<br />'.Property' also includes any interest to all or any part of the Property. This covenant shall run with the Property and
<br />shall remain in effect until the Secured Debt is paid in full and this Deed of Trust is released.
<br />10. TRANSFER OF AN INTEREST IN THE GRANTOR. If Truster is an entity other than a natural person (such as a
<br />corporation or other organization), Beneficiary may demand immediate payment if (1) a beneficial interest in Trustor is
<br />sold or transferred; (2) there is a change in either the identity or number of members of a partnership; or (3) there is a
<br />change in ownership of more than 25 percent of the voting stack of a corporation. I lowever, Beneficiary may not
<br />demand payment in the above situations if it is prohibited by law as of the date of this Deed of Trust.
<br />11. ENTITY WARRANTIES AND REPRESENTATIONS. It Truster is an entity other than a natural person (such as a
<br />corporation or other organization), Truster makes to Beneficiary the following warranties and representations which
<br />shall be continuing as long as the Secured Debt remains outstanding:
<br />A. Truster is an entity which is duly organized and validly existing in the Truster's slate of incorporation (or
<br />armanization). Truster is in good standing in all stales in which Trustor transacts business. Truster has the
<br />power and authority to awn the Property and to carry on its business as now being conducted and, as
<br />applicable, is qualified to do so in see[) state in which Truster operates.
<br />B. The execution, delivery and performance of this Deed of Trust by Truster and the obligation ovidonecd by the
<br />Evidence of Debt are within the power of Truster, have been duly authorized, have received all necessary
<br />governmental approval, and will not violate any provision of law, or order of court or governmental agency.
<br />C. Other than disclosed in writing Truster has nm changed its name within the last ten years and has not used any
<br />other trade or fictitious name. Without Beneficiary's prior written consent, Truster does not and will not use any
<br />other name and will preserve its existing name, trade names and franchises until the Secured Debt is satisfied.
<br />12. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Truster will keep the Property in good condition and make
<br />all repairs that are reasonably necessary. Truster will give Beneficiary prompt notice of any loss or damage to the
<br />Property. Truster will keep the Property free of noxious weeds and grasses. Truster will not initiate, join in or consent
<br />To any change in any private restrictive covenant, zoning ordinance or other public or private restriction limiting or
<br />defining the uses which may be made of the Property or any part of the Property, without Beneficiary's prior written
<br />consent. Truster will notify Beneficiary of all demands, proceedings, claims, and actions against Truster or any other
<br />owner made under law or regulation regarding use, ownership and occupancy of the Property. Trustor will comply with
<br />all legal requirements and restrictions, whether public or private, with respect to the use of the Property. Truster also
<br />agrees that the nature of the occupancy and use will not change without Beneficiary's prior written consent.
<br />No portion of the Property will be removed, demolished or materially altered without Beneficiary's prior written consent
<br />except that Truster hes the right to remove items of personal property comprising a part of the Property that become
<br />worn or obsolete, provided that such personal property is replaced with other personal property at least equal in value
<br />To the replaced personal property, free from any title retention device, security agreement or other encumbrance. Such
<br />replacement of personal property will be deemed subject to the security interest created by this Deed of Trust. Truster
<br />shall not partition or subdivide the Properly without Beneficiary's prior written consent. Beneficiary or Beneficiary's
<br />agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpose of inspecting the
<br />Property. Any inspection of the Property shall be entirely for Beneficiary's benefit and Trustor will in no way rely on
<br />Beneficiary's inspection.
<br />13. AUTHORITY TO PERFORM. If Truster fails to perform any of Tre acs's druse under this Dead of Truce, or any other
<br />mortgage, deed of trust. security agreement er mher lion document that has priority over this Deed of Trust,
<br />Beneficiary may, without notice, perform the duties or cause them to be performed. Truster appoints Beneficiary as
<br />attorney in fact to sign truster's name or pay any amount necessary for performance. If any construction on the
<br />Property is discontinued or not carried on in a reasonable manner, Beneficiary may do whatever is necessary to protect
<br />Beneficiary's security interest in the Properly. This may include completing the construction.
<br />Beneficiary's right to perform for Trustor shall not create an obligation to perform, and Beneficiary's failure to perform
<br />will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law cr this Dead of Trust. Any
<br />amounts paid by Beneficiary for insuring. preserving or otherwise protecting the Property and Beneficiary's security
<br />interest will be due on demand and will bear interest from the date of the payment until paid in full at the interest rate
<br />in effect from time to time according to the terms nt the Evidence of Debt.
<br />14. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. It the Property includes a unit in a condominium or a planned unit
<br />development, Truster will perform all of Trustor's duties under the euvenanis, by -laws, or regulations of the
<br />condominium or planned unit development.
<br />15. DEFAULT. Truster will be in default if any of the following occur:
<br />A. Any party obligated on the Secured Debt fails to make payment when due;
<br />B. A breach of any term or covenant in this Deed of Trust, any prior mortgage or any ronstruction can agreement,
<br />security agreement or any other document evidencing, guarantying, securing or otherwise relating to the
<br />Secured Debt;
<br />( lyy, /1N. 4f. f,e9e3o/81
<br />�� 6L 1993, 3001 Bankem 6yaeems, Inr, 5t CIeW, MN Fmm AGLL eE81 NE ]i110;e] 9tr f \ 0V
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