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<br />200701932
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<br />As long as this Assignment is in effect, Grantor wammts and represents that no default exists undor tho Lossos, and
<br />the parties subject to the Leases have not violated any applicable law on leases, licenses and landlords and tenants.
<br />Grantor, at its sole cost and axpense, will keep, observe and perform, and require all other parties to the Leases to
<br />comply with the Leases and anyapplicabl$ law. . .
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<br />If Grantor or any party to the Lease dafaults or fails to observe any applicable law, Grantor will promptly notify Lender.
<br />If Grantor neglects or refuses to enforce compliance with the terms of the Leases, then Lender may, at Lender's
<br />option, enforce compliance. Grantor will not sublet, modify, extend, cancel, or otherwise alter the Leases, or accept
<br />the surrender of the Property covered by the leases (unless the Leases so. require) without Lender's consent. Grantor
<br />will not assign, compromise, subordinate or encumber the Leases and Rents without Lender's prior written consent.
<br />Lender does not assume or become liable for the Property's maintenance, depreciation, or other losses or damages
<br />when Lender acts to manage, protect or preserve the Property, except for losses and damages due to L$nder's gross
<br />negligence or intentional torts. Otherwise, Grantor will indemnify Lender and hold Lender harmless for all liability, loss
<br />or damage that Lender may incur when lender opts to exarcise any of its remadiesagainst any party obligated under
<br />the Leases.
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<br />16. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Property includes a unit in a condominium or a planned unit
<br />development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
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<br />16. DEFAULT. Trustor 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 construction loan agreement,
<br />security agreement or any other document evidencing, guarantying, securing or otherwise relating to the
<br />Secured Debt; .'. . .
<br />C. The making or furnishing of any verbal or written representation, statement or warranty to Beneficiary that is
<br />false or incorrect in any materiel respect by Trustor or any person or entity obligated on the Secured Debt;
<br />D. The death, dissolution, appointment of a receiver for, or application of any debtor reliaf law to, Trustor or any
<br />person or entity obligated .on the.Sacured Debt;
<br />E. A good faith belief by Beneficiary at any tima tl1at Beneficiary is insecure with respect to any person or entity'
<br />obligated on the Secured Debt or that the prospect ohny payment is impaired or the Property. is impaired;
<br />F. A material adverse change in Trustor's business including ownership, management, and. financial conditions,
<br />which Beneficiary in its opinion believes impairs the value of the Property or repayment of the Secmed Debt; or '
<br />G. Any loen proceeds are Ul~ed for a purposeth,at will contribute to excessive erOSI~n of highlyer,odible land or to "
<br />the conversion of wetlands to produce ar:l agricultural commodity, . 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 some instances,.federal and state .Iaw will requireBeneficlary.tl5prcivldeTrustor with
<br />notice of the right to cure, mediation notices or other notices .and may establish tima schedules for forMlosure aotions.
<br />Subject to these limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Deed of Trust in a
<br />manner provided by law if this Trustorisin default~
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<br />At the option of Beneficiary; all or any part of thsagreed fees and charges, accrued interest and 'principal shall become
<br />immediately due. and payable, after giving notice if required by law, upon the occurrence of. a' defwlt or anytime
<br />th~reafter. In addition! Beneficiary shall be entitled to all the reme~ies p~ovide? by la:-",. th~ Evidence of Debt, other
<br />eVidences of debt, this Deed of Trust and any related documents Including Without hmltatlon,..the power to .sall tha
<br />Property.
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<br />If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Beneficiary,
<br />advllrtise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and
<br />convey absolute title free and clear of all right, title and interest of Trustor at such time and place as Trustee
<br />designatas. Trustee shall give notice of sale including the time, terms and place of sale and a description of the
<br />property to be sold as required by the applicable law in effect at the time of the proposed sale.
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<br />Upon sale of the Property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the
<br />Property sold which conveys absolute title to the purchasar, and after first paying all fees, charges and costs, shall pay
<br />to Beneficiary all moneys advancad for repairs, taxes, insurance, liens, assessments and prior encumbrances and
<br />interast thereon, and the principal and interest on the Secured Debt, paying the surplus. if any, to Trustor. Beneficiary
<br />may purchase the PropertY. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth
<br />therein.
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<br />All remedies are distinct, cumulative and not exclusive, and the Beneficiery is entitled to all remedies provided at law
<br />or equity, whether expressly set forth or not. The acceptance by Beneficiary of any sum in payment or partial payment
<br />on the Secured Debt after the balance is due or is lmcelerated or after foreclosure proceedings are filed shall not
<br />constitute II waiver of Beneficiary's right to require full and complete cure of any existing default. By not exercising
<br />any remedy on Trustor's default, Beneficiary does not waive Benaficiary's right to later COnsider the event a default if
<br />it continul'ls or happens again.
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<br />18. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law,
<br />Trustor agrees to pay all. of Beneficiary's expenses if Trustor breaches any covenant in this Deed of Trust. Trustor will
<br />also pay on demand all of Beneficiary's expenses incurred in collecting, insuring, preserving or protecting the Property
<br />or in any inventories, audits, inspections or other examination by Beneficiery in respect to the Property. Trustor agrees
<br />to.pay all costs and expenses incurred by Benafichlry in enforcing or protecting Beneficiary's rights and remedies under
<br />this Deed of Trust, including, but not limited to, attorneys' fees, court costs, and other legal expenses. Once the
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<br />(pege 4 of 8)
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<br />~ C 1993. 2001 B.n~.ro Syolomo.lno" St, Cloud. MN Form AGCO.RESI.NE 111712003
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