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<br />200701981
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<br />payment. Grantor will defend title to the Property against any claims that would impair the lien of this Security
<br />Instrument. Grantor agrees to assign to lender, as requested by lender, any rights, claims or defenses Grantor
<br />may have against parties who supply labor or materials to maintain or improve the Property.
<br />8. DUE ON SALE. lender may, at its option, declare the entire balance of the Secured Debt to be immediately
<br />due and payable upon the creation of, or contract for the creation of, any transfer or sale of all or any part of
<br />the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable.
<br />9. WARRANTIES AND REPRESENTATIONS. Grantor has the right and authority to enter into this Security
<br />Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing
<br />Grantor or to which Grantor is a party.
<br />, O. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Grantor will keep the Property in good
<br />condition and make all repairs that are reasonably necessary. Grantor will not commit or allow any waste,
<br />impairment, or deterioration of the Property. Grantor will keep the Property free of noxious weeds and grasses.
<br />Grantor agrees that the nature of the occupancy and use will not substantially change without lender's prior
<br />written consent. Grantor will not permit any change in any license, restrictive covenant or easement without
<br />lender's prior written consent. Grantor will notify lender of all demands, proceedings, claims, and actions
<br />against Grantor, and of any loss or damage to the Property.
<br />lender or lender's agents may, at lender's option, enter the Property at any reasonable time for the purpose of
<br />inspecting the Property. lender will give Grantor notice at the time of or before an inspection specifying a
<br />reasonable purpose for the inspection. Any inspection of the Property will be entirely for lender's benefit and
<br />Grantor will in no way rely on lender's inspection.
<br />, 1. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this
<br />Security Instrument, lender may, without notice, perform or cause them to be performed. Grantor appoints
<br />lender as attorney in fact to sign Grantor's name or pay any amount necessary for performance. lender's right
<br />to perform for Grantor will not create an obligation to perform, and lender's failure to perform will not preclude
<br />lender from exercising any of lender's other rights under the law or this Security Instrument. If any
<br />construction on the Property is discontinued or not carried on in a reasonable manner, lender may take all steps
<br />necessary to protect lender's security interest in the Property, including completion of the construction.
<br />, 2. ASSIGNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants, conveys to lender as
<br />additional security all the right, title and interest in the following (Property): existing or future leases, subleases,
<br />licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property,
<br />including any extensions, renewals, modifications or replacements (leases); and rents, issues and profits
<br />(Rents). In the event any item listed as leases or Rents is determined to be personal property, this Assignment
<br />will also be regarded as a security agreement. Grantor will promptly provide lender with copies of the leases
<br />and will certify these leases are true and correct copies. The existing leases will be provided on execution of
<br />the Assignment, and all future Leases and any other information with respect to these leases will be provided
<br />immediately after they are executed. Grantor may collect, receive, enjoy and use the Rents so long as Grantor
<br />is not in default. Upon default, Grantor will receive any Rents in trust for lender and Grantor will not
<br />commingle the Rents with any other funds. Grantor agrees that this Security Instrument is immediately
<br />effective between Grantor and lender and effective as to third parties on the recording of this Assignment. As
<br />long as this Assignment is in effect, Grantor warrants and represents that no default exists under the leases,
<br />and the parties subject to the leases have not violated any applicable law on leases, licenses and landlords and
<br />tenants.
<br />, 3. DEFAULT. Grantor will be in default if any of the following occur:
<br />A. Payments. Grantor fails to make a payment in full when due.
<br />B. Insolvency or Bankruptcy. The death, dissolution or insolvency of, appointment of a receiver by or on
<br />behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of,
<br />the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any
<br />present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by
<br />or against Grantor, Borrower, or any co-signer, endorser, surety or guarantor of this Security Instrument or
<br />any other obligations Borrower has with lender.
<br />C. Death or Incompetency. Grantor dies or is declared legally incompetent,
<br />D. Failure to Perform. Grantor fails to perform any condition or to keep any promise or covenant of this
<br />Security Instrument.
<br />E. Other Documents. A default occurs under the terms of any other document relating to the Secured
<br />Debts.
<br />F. Other Agreements. Grantor is in default on any other debt or agreement Grantor has with lender.
<br />G. Misrepresentation. Grantor makes any verbal or written statement or provides any financial information
<br />that is untrue, inaccurate, or conceals a material fact at the time it is made or provided.
<br />H. Judgment. Grantor fails to satisfy or appeal any judgment against Grantor.
<br />I. Forfeiture. The Property is used in a manner or for a purpose that threatens confiscation by a legal
<br />authority.
<br />J. Name Change. Grantor changes Grantor's name or assumes an additional name without notifying lender
<br />before making such a change.
<br />K. Property Transfer. Grantor transfers all or a substantial part of Grantor's money or property. This
<br />condition of default, as it relates to the transfer of the Property, is subject to the restrictions contained in the
<br />DUE ON SALE section.
<br />L. Property Value. lender determines in good faith that the value of the Property has declined or is impaired.
<br />M. Insecurity. lender determines in good faith that a material adverse change has occurred in Grantor's
<br />financial condition from the conditions set forth in Grantor's most recent financial statement before the date
<br />of this Security Instrument or that the prospect for payment or performance of the Secured Debts is impaired
<br />for any reason.
<br />14. REMEDIES. On or after default, lender may use any and all remedies lender has under state or federal law
<br />or in any document relating to the Secured Debts, including, without limitation, the power to sell the Property.
<br />Any amounts advanced on Grantor's behalf will be immediately due and may be added to the balance owing
<br />
<br />JASON MEISTER
<br />Nebraska Deed 01 Trust
<br />NE/4XX28424000005900005586023030707Y
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<br />il:>1996 Sankers Systems, Inc., St. Cloud, MN ~
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