|
<br />200902870
<br />
<br />B. Authority. The execution, delivery and performance of this Security Instrument and the obligation
<br />evidenced by this Security Instrument are within Grantor's powers, have been duly authorized, have
<br />received all necessary governmental approval, will not violate any provision of law, or order of court or
<br />governmental agency, and will not violate any agreement to which Grantor is a party or to which Grantor is
<br />or any of Grantor's property is subject.
<br />
<br />C. Name and Place of Business. Other than previously disclosed in writing to lender, Grantor has not
<br />changed Grantor's name or principal place of business within the last 10 years and has not used any other
<br />trade or fictitious name. Without lender's prior written consent, Grantor does not and will not use any
<br />other name and will preserve Grantor's existing name, trade names and franchises.
<br />
<br />10. 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 />
<br />No portion of the Property will be removed, demolished or materially altered without lender's prior written
<br />consent except that Grantor has the right to remove items of personal property comprising a part of the
<br />Property that become worn or obsolete, provided that such personal property is replaced with other personal
<br />property at least equal in value to the replaced personal property, free from any title retention device, security
<br />agreement or other encumbrance. Such replacement of personal property will be deemed subject to the
<br />security interest created by this Security Instrument. Grantor will not partition or subdivide the Property
<br />without lender's prior written consent.
<br />
<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 />
<br />11. 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
<br />right to perform for Grantor will not create an obligation to perform, and lender's failure to perform will not
<br />preclude 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
<br />steps necessary to protect lender's security interest in the Property, including completion of the construction.
<br />
<br />12. 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).
<br />
<br />A. Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for
<br />the use and occupancy of the Property, including but not limited to any extensions, renewals, modifications
<br />or replacements (leases).
<br />
<br />B. Rents, issues and profits, including but not limited to security deposits, minimum rents, percentage rents,
<br />additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable
<br />taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss
<br />of rents" insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights,
<br />general intangibles, and all rights and claims which Grantor may have that in any way pertain to or are on
<br />account of the use or occupancy of the whole or any part of the Property (Rents).
<br />
<br />In the event any item listed as leases or Rents is determined to be personal property, this Assignment will also
<br />be regarded as a security agreement. Grantor will promptly provide lender with copies of the leases and will
<br />certify these leases are true and correct copies. The existing leases will be provided on execution of the
<br />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. Grantor will not collect in advance any Rents due in future lease periods, unless Grantor first
<br />obtains lender's written consent. Upon default, Grantor will receive any Rents in trust for lender and Grantor
<br />will not commingle the Rents with any other funds. When lender so directs, Grantor will endorse and deliver
<br />any payments of Rents from the Property to lender. Amounts collected will be applied at lender's discretion
<br />to the Secured Debts, the costs of managing, protecting and preserving the Property, and other necessary
<br />expenses. Grantor agrees that this Security Instrument is immediately effective between Grantor and lender
<br />and effective as to third parties on the recording of this Assignment. As long as this Assignment is in effect,
<br />Grantor warrants and represents that no default exists under the leases, and the parties subject to the leases
<br />have not violated any applicable law on leases, licenses and landlords and tenants. Grantor, at its sole cost
<br />and expense, will keep, observe and perform, and require all other parties to the leases to comply with the
<br />leases and any applicable law. If Grantor or any party to the lease defaults or fails to observe any applicable
<br />law, Grantor will promptly notify lender. If Grantor neglects or refuses to enforce compliance with the terms
<br />of the leases, then lender may, at lender's option, enforce compliance. Grantor will not sublet, modify,
<br />extend, cancel, or otherwise alter the leases, or accept the surrender of the Property covered by the leases
<br />(unless the leases so require) without lender's consent. Grantor will not assign, compromise, subordinate or
<br />encumber the leases and Rents without lender's prior written consent. lender does not assume or become
<br />liable for the Property's maintenance, depreciation, or other losses or damages when lender acts to manage,
<br />protect or preserve the Property, except for losses and damages due to lender's gross negligence or intentional
<br />torts. Otherwise, Grantor will indemnify lender and hold lender harmless for all liability, loss or damage that
<br />
<br />C & I CATTLE COMPANY
<br />Nebraska Deed Of Trust
<br />
<br />NE/4AMOSEMAN00000000000111047041409N
<br />
<br /><1>1996 Bankers Systems, Inc" St. Cloud, MN ~
<br />
<br />g-
<br />
<br />Page 3
<br />
<br />,i ~ Ii
<br />
|