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200313158
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200313158
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Last modified
10/16/2011 7:23:07 AM
Creation date
10/28/2005 3:43:15 PM
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DEEDS
Inst Number
200313158
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200313158 <br />ANY OTHER PARTY THAT THE PROVISIONS OF THIS PARAGRAPH WILL NOT BE <br />FULLY ENFORCED IN ALL INSTANCES. <br />SECTION 10.19 Minimum Requirement. <br />Trustor recognizes that the requirements imposed upon Trustor hereunder, including, <br />without limitation, insurance requirements, are minimum requirements as determined by <br />Beneficiary and do not constitute a representation that the requirements are complete or <br />adequate. Trustor understands that it is Trustor's duty and responsibility to act prudently and <br />responsibly at all times for Trustor's protection and for the protection of the Premises. <br />SECTION 10.20 Cross Default. <br />In addition to being secured by this Deed of Trust, the loan evidenced by the Note is <br />secured by Deeds of Trust and Security Agreement and Fixture Financing Statement with <br />Assignment of Leases and Rents dated of even date herewith from Chief Industries, Inc. and <br />Eagle Crest Homes, Inc. for the benefit of Beneficiary for Hall County, Nebraska property ( "Hall <br />County Deeds of Trust "); a Deed of Trust and Security Agreement and Fixture Financing <br />Statement with Assignment of Leases and Rents dated of even date herewith from Chief <br />Transportation Products, Inc. for the benefit of Beneficiary for Douglas County, Nebraska <br />property ( "Douglas County Deed of Trust "); a Deed of Trust and Security Agreement and <br />Fixture Financing Statement with Assignment of Leases and Rents dated of even date herewith <br />from Chief Ethanol Fuels, Inc. for the benefit of Beneficiary for Adams County, Nebraska <br />property ( "Adams County Deed of Trust "); and a Mortgage and Security Agreement and Fixture <br />Financing Statement with Assignment of Leases and Rents dated of even date herewith from <br />Chief Industries, Inc. to Beneficiary for Indiana property ( "Indiana Mortgage "). Eagle Crest <br />Homes, Inc., Chief Transportation Products, Inc. and Chief Ethanol Fuels, Inc. shall be <br />collectively referred to as "Other Borrowers." Trustor agrees that should an Event of Default <br />exist under the terms of the Hall County Deeds of Trust, the Douglas County Deed of Trust, the <br />Adams County Deed of Trust or the Indiana Mortgage, such Event of Default shall constitute an <br />Event of Default hereunder entitling Beneficiary to declare the entire unpaid principal amount <br />together with accrued interest to be immediately due and payable and to exercise the remedies <br />available under the Note, this Deed of Trust, the Hall County Deeds of Trust, the Douglas <br />County Deed of Trust and the Indiana Mortgage. It is understood that the Beneficiary is not <br />required to exercise any of the remedies available under the Hall County Deeds of Trust, the <br />Douglas County Deed of Trust, the Adams County Deed of Trust or the Indiana Mortgage prior <br />to, simultaneously with or after exercising its remedies hereunder and may exercise its remedies <br />collectively or individually, at its sole option. It is specifically covenanted and agreed the <br />Beneficiary may proceed, at the same time or different times, to foreclose this Deed of Trust, the <br />Indiana Mortgage, the Douglas County Deed of Trust, the Adams County Deed of Trust or the <br />Hall County Deeds of Trust, by any appropriate proceedings and that no event of enforcement <br />pursuant to such instruments, including without limiting the generality of the foregoing, any <br />pending foreclosure, judgment or decree of foreclosure, foreclosure sale, rents received, <br />possession taken, deficiency judgment or decree or judgment taken on any note, shall in any way <br />stay, preclude or bar enforcement of the other remedies contained in this Deed of Trust, the Hall <br />County Deeds of Trust, the Douglas County Deed of Trust, the Adams County Deed of Trust or <br />the Indiana Mortgage, and Beneficiary may pursue any or all of its remedies to the maximum <br />15311/53;09/30/03 -31- <br />
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