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201005559
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201005559
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Last modified
8/9/2010 3:02:23 PM
Creation date
8/9/2010 3:02:22 PM
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DEEDS
Inst Number
201005559
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201005559 <br />rate equal at all times to ~% per annum above the Beneficiary's "CoBank Base Rate.." I'or <br />purposes hereof, the CoBank Base. Rate shall mean the rate of interest established by the. <br />Beneficiary from time to time as its CoBank Base Rate, which rate is intended by the Beneficiary <br />to be a reference rate and not its lowest rate. All such advances and accrued interest shall be <br />secured by this Deed of Trust. <br />Section 3.10. Further Assurances. Upon the request of the Beneficiary, the Grantor <br />shall promptly do all acts and things, including the execution, acknowledgment and delivery of <br />such amendments thereto and other instruments and documents as the Beneficiary may request, <br />to enable the Beneficiary to perfect and maintain the lJien of this Deed of Trust and/or the <br />Beneficiary's rights and remedies hereunder. The Grantor shall notify the Beneficiary promptly <br />upon the acquisition of any fee or leasehold estate in real property and, to the extent required. <br />under the Credit Agreement; shall execute and record such amendments or supplements to this <br />Deed of Trust ar other documents or instruments as are necessary or appropriate to subject such <br />real property to the Lien of this Deed of Trust and shall deliver such executed and recorded <br />amendments or supplements or other documents or instruments to the Beneficiary. In the event <br />the.Grantor fails to take any action required under this Section 3.10, the,Bcncficiary may take any <br />such action and make, execute and record any such instruments and documents for and in the <br />name of the Grantor, and the Grantor hereby irrevocably appoints the Beneficiary as its attorney- <br />in-fact to take such actions, which appointment is coupled with an interest and irrevocable. <br />Section 3.11. Condemnation, Etc. <br />(A) "1'he Grantor hereby irrevocably assigns to the Beneficiary any award or payment <br />which becomes payable to the Grantor by reason of any taking of the "Trust Estate, or any part <br />thereof, whether directly or indirectly or temporarily or permanently, in or by condemnation or <br />other eminent domain proceedings (hereinafter called a "Taking"). Forthwith upon receipt by the <br />Grantor of notice of the institution of any proceeding or negotiations for a Taking, the Grantor <br />shall give notice thereof to the Beneficiary. The Bericficiary may appear in any such proceedings <br />and participate in any such negotiations and may be represented by counsel. "The Grantor, <br />notwithstanding that tk~e Beneficiary may not be a party to any such proceeding, shall promptly <br />give to the Beneficiary copies of all notices, pleadings, judgments, determinations and other <br />papers received by the Grantor therein. The Grantor shall not enter into any agreement permitting <br />or consenting to the taking of the Trust Estate, or any part thereof, or providing for the <br />conveyance thereof in lieu of condemnation, with anyone authorized to acquire the same in <br />condemnation or by eminent domain unless the Beneficiary shall first have consented thereto in <br />writing. . <br />(B) All Taking awards shall be paid to the Beneficiary, which rrtay, at its option, apply <br />them, after first deducting the Beneficiary's expenses incurred in the collection thereof, to the <br />payment of the Obligations, whether or not due and in such order of application as the Beneficiary <br />may determine; or to the repair ar restoration of the Trust Estate, in such manner as the <br />Beneficiary may determine. <br />10 <br />
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