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<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200810076
<br />
<br />Page 9
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<br />the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and
<br />enforceable.
<br />
<br />If South Dakota law governs the Dispute. the following provision is included;
<br />Real Property Collateral. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to arbitration if the Dispute
<br />concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (H the holder of the mortgage, lien or
<br />security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or benefits
<br />that might accrue to them by virtue of the single action rule statute of South Dakota, thereby agreeing that all indebtedness and obligations
<br />of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and
<br />enforceable.
<br />
<br />If Utah lew lIoverns the Dispute, the following provision is included:
<br />Real Property Collateral; Judicial Reference. Notwithstanding anything herein to the contrary, no Dispute shall be submitted to
<br />arbitration if the Dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (j) the holder
<br />of the mortgage, lien or security interest specifically elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration
<br />waive any rights or benefits that might accrue to them by virtue of the single action rule statute of Utah, thereby agreeing that all
<br />indebtedness and obligations of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations,
<br />shall remain fully valid and enforceable. If any such Dispute is not submitted to arbitration, the Dispute shall be referred to a master in
<br />accordance with Utah Rule of Civil Procedure 53, and this general reference agreement is intended to be specifically enforceable. A master
<br />with the qualifications required herein for arbitrators shall be selected pursuant to the AAA's selection procedures. Judgment upon the
<br />decision rendered by a master shall be entered in the court in which such proceeding was commenced in accordance with Utah Rule of
<br />Civil Procedure 53(e).
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<br />DEFINITION OF INDEBTEDNESS. The definition of "Indebtedness" herein includes, without limitation, all liability of Borrower or other party
<br />having its obligations to lender secured by this Deed of Trust, whether liquidated or unliquidated, defined, contingent, conditional or of any
<br />other nature whatsoever, and performance of all other obligations, arising under any swap, derivative, foreign exchange or hedge
<br />transaction or arrangement (or other similar transaction or arrangement howsoever described or defined) at any time entered into with
<br />lender in connection with the Note.
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<br />ENCUMBRANCES. Grantor/MortgagorfTrustor shall not, without lender's consent, mortgage, assign, grant a lien upon or security interest
<br />in, or otherwise encumber the Property or any interest in the Property, or allow such a lien or security interest to exist or arise, whether
<br />voluntarily, involuntarily or by operation of law, except for liens and security interests in favor of lender, or property taxes attributable to
<br />the Property which are not past due.
<br />
<br />lEASES AND RENTS. Grantor!Trustor/Mortgagor's present assignment to lender hereunder of all present and future leases includes all
<br />leases, licenses, rental agreements and other agreements of any kind relating to the use or occupancy of any of the Property, together with
<br />all guarantees of and security for any tenant's performance, and all extensions, renewals and modifications thereto (as used in this
<br />paragraph, each, a "lease" and collectively, the "leases"), together with any and all Rents from the Property. This assignment shall not
<br />impose upon lender any duty to produce Rents, nor cause lender to be a "mortgagee in possession," or responsible for performing any of
<br />the obligations of the lessor under any lease. lender confers upon Grantor/Trustor/Mortgagor a license to collect and retain the Rents as
<br />they come due, until the occurrence of any Event of Default, at which time the license shall be automatically revoked, and lender, or its
<br />designated agent may, at its option and without notice, make, cancel, enforce or modify any lease or Rents, collect Rents and do any acts
<br />which lender deems proper to protect the security hereof or exercise any other right or remedy hereunder. Grantor!Trustor/Mortgagor
<br />represents and warrants that there exists no material default under present leases and that those leases are in full force and effect.
<br />lender, at its option and without notice, may notify any tenant of this assignment of the leases and Rents. Grantor/Trustor/Mortgagor
<br />agrees, at its expense, (j) to comply with and enforce all the terms and conditions under each lease, and defend in any action in
<br />connection with any lease; (ij) not to modify any lease in any material respect, nor accept surrender under or terminate the term of any
<br />Lease, nor waive or release any tenant under any lease; (iii) not to anticipate the Rents under any lease; and (iv) to give prompt notice to
<br />lender of any default by any tenant under any lease, and of any notice of default on the part of Grantor!Trustor/Mortgagor under any
<br />lease received from a tenant. Should Grantor!Trustor/Mortgagor fail to do any act required to be done by Grantor!Trustor/Mortgagor
<br />hereunder, then lender, at its option and without notice, may make or do the same in such manner and to such extent as Lender deems
<br />necessary to protect the security hereof. Grantor!Trustor/Mortgagor agrees to pay to lender immediately upon demand all sums expended
<br />under the authority hereof, including reasonable attorneys' fees, together with Interest thereon at the highest rate per annum payable under
<br />any Indebtedness, and the same, at lender's option, may be added to the Indebtedness and secured hereby.
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<br />ASSOCIATION OF UNIT OWNERS. The following provisions apply if the Real Property has been submitted to unit ownership law or similar
<br />law for the establishment of condominiums or cooperative ownership of the Real Property:
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<br />A. Power of Attorney. Trustor grants an irrevocable power of attorney to lender to vote in lender's discretion on any matter that may
<br />come before the association of unit owners. Lender shall have the right to exercise this power of attorney only after Trustor's default;
<br />however, Lender may decline to exercise this power as Lender sees fit.
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<br />B. Insurance. The insurance as required herein may be carried by the association of unit owners on Trustor's behalf, and the proceeds of
<br />such insurance may be paid to the association of unit owners for the purpose of repairing or reconstructing the Property. If not so used by
<br />the association, such proceeds shall be paid to Lender.
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<br />C. Default. Trustor's failure to perform any of the obligations imposed on Trustor by the declaration submitting the Real Property to unit
<br />ownership, by the bylaws of the association of unit owners, or by any rules or regulations thereunder, shall be an event of default under
<br />this Deed of Trust. If Trustor's interest in the Real Property is a leasehold interest and such property has been submitted to unit ownership,
<br />any failure by Trustor to perform any of the obligations imposed on Trustor by the lease of the Real Property from its owner, any default
<br />under such lease which might result in termination of the lease as it pertains to the Real Property, or any failure of Trustor as a member of
<br />an association of unit owners to take any reasonable action within Trustor's power to prevent a default under such lease by the association
<br />of unit owners or by any member of the association shall be an Event of Default under this Deed of Trust.
<br />
<br />MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust:
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