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<br />200609870
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<br />As lang as this Assignment is in effect, Grantar warrants and represents that no. default exists under the Leases, and
<br />the parties subject to. the Leases have nat vialated any applicable law an leases, licenses and landlords and tenants.
<br />Grantar, at its sale cast and expense, will keep, abserve and perfarm, and require all ather parties to. the Leases to.
<br />camply with the Leases and any applicable law.
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<br />If Grantar ar any party to. the Lease defaults ar fails to. abserve any applicable law, Grantar will pramptly natify Lender.
<br />If Grantor neglects ar refuses to. enfarce campliance with the terms af the Leases, then Lender may, at Lender's
<br />aptian, enfarce campliance. Grantar will nat sublet, madify, extend, cancel, ar atherwise alter the Leases, ar accept
<br />the surrender af the Praperty cavered by the Leases (unless the Leases sa require) with aut Lender's can sent. Grantar
<br />will nat assign, campramise, subardinate ar encumber the Leases and Rents withaut Lender's priar written cansent.
<br />Lender daes nat assume ar became liable far the Praperty's maintenance, depreciatian, ar ather lasses ar damages
<br />when Lender acts to. manage, pratect ar preserve the Praperty, except far lasses and damages due to. Lender's grass
<br />negligence ar intentianal tarts. Otherwise, Grantar will indemnify Lender and hald Lender harmless far all liability, lass
<br />ar damage that Lender may incur when Lender apts to. exercise any af its remedies against any party abligated under
<br />the Leases.
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<br />15. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Praperty includes a unit in a candaminium ar a planned unit
<br />develapment, Trustar will perfarm all af Trustar's duties under the caven ants, by-laws, ar regulatians af the
<br />candaminium ar planned unit develapment.
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<br />16. DEFAULT. Trustar will be in default if any af the fallawing accur:
<br />A. Any party abligated an the Secured Debt fails to. make payment when due;
<br />B. A breach of any term Dr oavenant in this Deed af Trust, any prior martgage or any Canstructinnloan aQJ:_~ement,
<br />security agreement ar any ather dacument evidencing, guarantying, securing ar atherwise relating to. the
<br />Secured Debt;
<br />C. The making ar furnishing af any verbal ar written representatian, statement ar warranty to. Beneficiary that is
<br />false ar incarrect in any material respect by Trustar ar any persan ar entity abligated an the Secured Debt;
<br />D. The death, dissalutian, appaintment af a receiver far, ar applicatian af any debtar relief law to., Trustar ar any
<br />persan ar entity abligated an the Secured Debt;
<br />E. A gaad faith belief by Beneficiary at any time that Beneficiary is insecure with respect to. any persan ar entity
<br />abligated an the Secured Debt ar that the praspect af any payment is impaired ar the Praperty is impaired;
<br />F. A material adverse change in Trustar's business including awnership, management, and financial canditians,
<br />which Beneficiary in its apinian believes impairs the value af the Praperty ar repayment af the Secured Debt; ar
<br />G. Any laan praceeds are used for a purpase that will cantribute to. excessive erasian af highly eradible land ar to.
<br />the canversian af wetlands to. praduce an agricultural cammadity, as further explained in 7 C.F.R. Part 1940,
<br />Subpart G, Exhibit M.
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<br />17. REMEDIES ON DEFAULT. In same instances, federal and state law will require Beneficiary to. pravide Trustar with
<br />natice af the right to. cure, mediatian natices or ather natices and may establish time schedules far fareclasure actians.
<br />Subject to. these limitatians, if any, Beneficiary may accelerate the Secured Debt and fareclase this Deed af Trust in a
<br />manner pravided by law if this Trustar is in default.
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<br />At the aptian af Beneficiary, all ar any part af the agreed fees and charges, accrued interest and principal shall became
<br />immediately due and payable, after giving natice if required by law, upan the accurrence af a default ar anytime
<br />thereafter. In additian, Beneficiary shall be entitled to. all the remedies pravided by law, the Evidence af Debt, ather
<br />evidences af debt, this Deed af Trust and any related dacuments including withaut limitatian, the pawer to. sell the
<br />Praperty.
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<br />If there is a default, Trustee shall, in additian to. any ather permitted remedy, at the request af the Beneficiary,
<br />advertise and sell the Praperty as a whale ar in separate parcels at public auctian to. the highest bidder far cash and
<br />canvey absalute title free and clear af all right, title and interest af Trustar at such time and place as Trustee
<br />designates. Trustee shall give natice af sale including the time, terms and place af sale and a descriptian af the
<br />plOperty to be said as required by the applicable law in ()ffect at the time of the pmpased sale.
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<br />Upan sale af the Praperty and to the extent nat prahibited by law, Trustee shall make and deliver a deed to. the
<br />Praperty said which conveys absalute title to. the purchaser, and after first paying all fees, charges and casts, shall pay
<br />to. Beneficiary all maneys advanced far repairs, taxes, insurance, liens, assessments and priar encumbrances and
<br />interest therean, and the principal and interest an the Secured Debt, paying the surplus, if any, to. Trustar. Beneficiary
<br />may purchase the Praperty. The recitals in any deed af canveyance shall be prima facie evidence af the facts set farth
<br />therein.
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<br />All remedies are distinct, cumulative and nat exclusive, and the Beneficiary is entitled to. all remedies pravided at law
<br />or equity, whether expressly set farth ar nat. The acceptance by Beneficiary af any sum in payment ar partial payment
<br />an the Secured Debt after the balance is due ar is accelerated ar after fareclasure praceedings are filed shall nat
<br />canstitute a waiver af Beneficiary's right to require full and camplete cure af any existing default. By nat exercising
<br />any remedy an Trustar's default, Beneficiary daes nat waive Beneficiary's right to. later consider the event a default if
<br />it cantinues ar happens again.
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<br />18. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prahibited by law,
<br />Trustar agrees to. pay all af Beneficiary's expenses if Trustor breaches any caven ant in this Deed af Trust. Trustar will
<br />also. pay an demand all af Beneficiary's expenses incurred in collecting, insuring, preserving ar pratecting the Praperty
<br />ar in any inventaries, audits, inspectians ar ather examinatian by Beneficiary in respect to. the Praperty. Trustor agrees
<br />to. pay all casts and expenses incurred by Beneficiary in enfarcing ar pratecting Beneficiary's rights and remedies under
<br />this Deed af Trust, including, but nat limited to., attarneys' fees, caurt casts, and other legal expenses. Once the
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<br />~M @1993, 2001 Bankers Systoms, In"" St, Cloud, MN Form AGCG RESI-NE 1/17/2003
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<br />(page 4 of 81
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