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distinct, notwithstanding the union of such estates in Trustor, Cargill, or in any other person by purchase, operation of law or otherwise. Beneficiary reserves the right, at any time, to release portions of the Trust Property, including, but not limited to, the leasehold estate created by the Pioneer Trail Grain Facility Lease, with or without consideration, at Beneficiary's election, without waiving or affecting any of its rights hereunder or under the Credit Agreement and any such release shall not affect Beneficiary's rights in connection with the portion of the Trust Property not so released. 8.04 Trustor's Ac uisition of Fee Estate. In the event that Trustor, so long as any portion of the Obligations remains unpaid, shall be the owner and holder of the fee title to the Pioneer Trail Grain Facility, the Lien of this Deed of Trust shall be spread to cover Trustor's fee title to the Pioneer Trail Grain Facility and said fee title shall be deemed to be included in the Trust Property. Trustor agrees, at its sole cost and expense, including without limitation, Beneficiary's reasonable attorney's fees, to (i) execute any and all documents or instruments necessary to subject its fee title to the Pioneer Trail Grain Facility to the Lien of this Deed of Trust; and (ii) provide a title insurance policy which shall insure that the Lien of this Deed of Trust is a first priority Lien on Trustor's fee title to the Pioneer Trail Grain Facility. Furthermore, Trustor hereby appoints Beneficiary, to the fullest extent permitted by applicable law, its true and lawful attorney -in -fact to execute and deliver all such instruments and documents in the name and on behalf of Trustor. This power, being coupled with an interest and to the fullest extent permitted by applicable law, shall be irrevocable as long as the Obligations remain unpaid or unperformed, and shall be granted distinctly to Beneficiary. 8.05 Representations and Warranties. (a) A true and correct copy of the Pioneer Trail Grain Facility Lease, together with all amendments and supplements thereto, has heretofore been delivered by Trustor to Beneficiary; (b) the Pioneer Trail Grain Facility Lease is in full force and effect, unmodified by any writing or otherwise; (c) all rent, additional rent and other charges reserved therein have been paid; (d) Trustor enjoys the quiet and peaceful possession of the property demised by the Pioneer Trail Grain Facility Lease; (e) no monetary default has occurred under the Pioneer Trail Grain Facility Lease, and Trustor is not in default under any of the other terms of the Pioneer Trail Grain Facility Lease and there are no circumstances which, with the passage of time or the giving of notice or both, would constitute an event of default under the Pioneer Trail Grain Facility Lease; (f) to the best of Trustor's knowledge, the landlord under the Pioneer Trail Grain Facility Lease is not in default under any of the terms or provisions thereof on the part of the lessor to be observed or performed; and (g) to the best of Trustor's knowledge, there are no encumbrances of the landlord's interest in the Pioneer Trail Grain Facility Lease other than as set forth on the Pioneer Trail Title Insurance Policy. 8.06 Consent Agreement. Trustor shall obtain and deliver to Beneficiary on or prior to the Closing Date, a Consent Agreement from Cargill setting forth the representations and/or agreements that Cargill, as the landlord under the Pioneer Trail Grain Facility Lease, has made in connection with the execution of this Deed of Trust. 8.07 Right to Cure Defaults. In the event of any default by Trustor in the performance of any of its obligations under the Pioneer Trail Grain Facility Lease, including, without limitation, any default in the payment of rent and other charges and impositions made payable by the tenant thereunder, then, in each and every case, Beneficiary may, at its option and without 25