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200608869
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Last modified
3/4/2012 11:19:50 AM
Creation date
10/3/2006 4:51:21 PM
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DEEDS
Inst Number
200608869
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200608869 <br />notice, cause the default or defaults to be remedied and otherwise exercise any and all of the <br />rights of Trustor therein in the name of and on behalf of Trustor, however, such remedy by the <br />Beneficiary shall not remove the default as between.the Beneficiary and Trustor. Trustor shall, <br />on demand, reimburse Beneficiary for all advances made and expenses incurred by Beneficiary <br />in curing any such default (including, without limitation, reasonable, actual legal fees), together <br />with interest thereon at the rate of interest set forth in Section 2.9(c) of the Credit Agreement <br />from the date that an advance is made or expense is incurred, to and including the date the same <br />is paid. <br />8.08 New Lease to Benefici If the Pioneer Trail Grain Facility Lease is cancelled <br />or terminated, and if Beneficiary or a nominee of Beneficiary shall acquire an interest in any new <br />lease of the Pioneer Trail Grain Facility, Trustor shall have no right, title or interest in or to the <br />new lease or the leasehold estate created by such new lease. <br />8.09 No Assigment in Violation of Pioneer Trail Grain Facility Lease-, Liability of <br />Beneficiary. Notwithstanding anything to the contrary contained herein, this Deed of Trust shall <br />not constitute an assignment of the Pioneer Trail Grain Facility Lease within the meaning of any <br />provisions thereof prohibiting its assignment and Beneficiary shall have no liability or obligation <br />thereunder by reason of its acceptance of this Deed of Trust. Beneficiary shall be liable for the <br />obligations of the tenant arising under the Pioneer Trail Grain Facility Lease for only that period <br />of time which Beneficiary is in possession of the Pioneer Trail Grain Facility or has acquired, by <br />foreclosure or otherwise, and is holding all of Trustor's right, title and interest therein. <br />8.10 Rights of Leasehold Lenders. Notwithstanding anything contained herein to the <br />contrary, and in addition to any rights, privileges and remedies granted to Beneficiary elsewhere <br />in this Deed of Trust, Beneficiary shall have, and Trustor hereby grants to Beneficiary, any and <br />all rights, privileges and remedies of leasehold lenders provided for in the Pioneer Trail Grain <br />Facility Lease (including without limitation, any renewal rights and options to purchase <br />contained in the Pioneer Trail Grain Facility Lease) without the necessity of particularly <br />specifying any or all of such rights, privileges and remedies that are or could be granted to <br />leasehold beneficiaries pursuant to the Pioneer Trail Grain Facility Lease. <br />8.11 Bankru tcy of Landlord. In the event of bankruptcy by the landlord under the <br />Pioneer Trail Grain Facility Lease, the Trustor shall: <br />(a) give the Beneficiary notice of such landlord's bankruptcy as soon as the Trustor <br />becomes aware of such bankruptcy; <br />(b) be prohibited from electing to treat the Pioneer Trail Grain Facility Lease as <br />terminated without the written consent of the Beneficiary; <br />(c) allow the Beneficiary to participate in any bankruptcy litigation involving the <br />Pioneer Trail Grain Facility Lease; and <br />(d) grant the Beneficiary the right to make any other decisions in bankruptcy which <br />would affect the Beneficiary's damages or security under this Deed of Trust. <br />26 <br />
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