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OCT-05-2010 12:53 WESTERN NATIONAL BANK 785 244 6256 F.004�049
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<br />As long as this Assignment is in effect, Grantor warrants and represents thet no default exists under the Leases, and
<br />the parties subject to tha Leases have not violated any applica�le lew nn leases, licenses and landlords and tenants.
<br />Grantor, at its sole cost and expense, will keep, ohserve and perform, and require all other perties to the Leases to
<br />comply with the Leases and any applicable law.
<br />If Grantnr or any party to the Lease defaults or fails tn nbserve any applicabls law, Grantor will promptly notify Lender.
<br />If Grantor neglects or refuses to enforce com�liance with the terms of the Leases, then Lender may, at Lender's
<br />option, enforce compliance. Grantnr will not sublst, modify, extend, cancel, nr ntherwise 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 withaut Lender's prior wri`tten cnnsent.
<br />Lender does not assume or become liable for the Property's maintenance, depreciation, or other losses or damages
<br />when Lender acYs to manage, protect or preserve the Property, except for Insses and damages due to Lender's gross
<br />negligence or intentional torts. Otherwise, Grantor will indemnify Lender end hold Lender harmless for all liability, loss
<br />or damege that �.ender may incur when Lender opts tn exercise any of its remedies against any party obligated under
<br />the Leases.
<br />15. CONaaMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Property includes a unit in e condominium or a plenned unit
<br />development, Trustor will perfnrm all of Trustor's dutiss under the covenants, by-laws, nr regulations af the
<br />condominium or planned unit development.
<br />1B. DEFAULT. 7rustor will be in defiault ifi any ofi the following occur:
<br />A. Any party obligated an the Secured Debt fails to make payment when dus;
<br />B. A breach of eny term or covenant in this Deed of Trust, any prior mortgege or eny construction loan a�reement,
<br />security agreement or any nther document evidencing, guarantying, securing nr ntherwise relating to the
<br />5ecured Debt;
<br />C. 7he making ar furnishing of any verbal or written representation, statement ar warranty to Beneficiary that is
<br />false or incorrect in eny materiel respect by Trustor ar any person or entity obligated on the Secured Debt;
<br />D. The death, dissolution, appointment af a receiver for, or application ni any debtor relief law to, 7rustor or any
<br />person or entity obligated on the 5ecured Debt;
<br />E. A good faith belief by Beneficiary at any time that Benefiiciary is insecure with respect tn any persnn nr entity
<br />obligated on the Secured �eb2 or that the prospect of eny peyment is impaired or the Property is impaired;
<br />F. A material adverse change in Trustor's business including awnership, management, and financial conditions,
<br />which Beneficiary in its opinion believes impairs the value of the Property or repayment of the Secured �ebt; or
<br />G, Any loan proceeds are used for a putpose that will contribute tn excessive erosian of highly erodible land or to
<br />the conversion of wetlands to produce an agricultural commodity, es further explained in 7 C.F.R. Part 1940,
<br />Subpsrt G, Exhibit M.
<br />17. R�M��IES ON p�FAUL7. In some instances, federal and stata law will require Beneficiary tn prnvide Trustnr with
<br />notice of the right to cure, mediation notices or other notices and may establish time schedules for foreclosure actions.
<br />Subject ta thesa limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Deed ot Trust in a
<br />manner provided by law if this 7rustor is in default.
<br />At the option of Beneficiary, all or any part of the egreed fees end charges, accrued interest and principal shall become
<br />immediately due and payable, after giving natice if required by law, upon the occurrence nf a default nr anytime
<br />thereafter. In addition, Beneficiary shall 6e entitled to all the remedies provicisd by law, the Evidence of Qebt, other
<br />evidences of debt, this Deed of Trust and any related documents including without limitation, the power to sell the
<br />Property.
<br />If there is a default, Trustee shall, in eddition to any other permitted remedy, at the request of the Beneficiary,
<br />advertise and sell the I�rnperty as a whals or in separate parcels at public auctinn tn the highest bidder fnr cash and
<br />convey absplute title free and clear of all right, title and interest of Trustor at such time and place as Trustee
<br />designates, Trustee shsll give nntice of sale including the time, te�ms and place of sale end a descriptinn nf the
<br />property to be solc! as required by the applicable lew in effect at the time of the propased sale.
<br />Upon sale of the Property and to the extent not prohibited by law, Trustee shall maka anc! deliver a deed to the
<br />I'roperty sold which canveys absolute title to the purchaser, and after iirst paying all fees, chargas and costs, shall pay
<br />to Beneficiary all moneys edvanced for repairs, taxes, insurance, liens, assessments and prinr encumbrenees and
<br />interest therenn, and the principal and interest on the Secured Debt, paying the surplus, if any, ta 7rustor. Beneficiary
<br />may purchase the Prpperty. The recitals in any deed of eonveyance shall be prima facie evidence of the facts set forth
<br />therein.
<br />All remediss are distinct, cumulative and not exclusive, and the Beneficiery is entitlad to all remedies provided at law
<br />or equity, whether expressly set forth or not. The acceptance by Beneficiary ofi any sum in peyment or pertial payment
<br />on the 5ecured �ebt after the balance is due ar is accelerated or after fnreclnsure prnceedings are filed shall not
<br />constitute a waiver pf Beneficiary's right to require full end eomplete cure of any existing default. By not exercising
<br />any remedy on Trustor's default, Beneficiary does not waiva Beneficiary's right to later cnnsider the event a default if
<br />it continues or happens again.
<br />16. EXPENSES; ADVANCES aN COVENANTS; ATT�RNEYS' FEES; COLLECTIDN COSTS. Except when prohibitec! by law,
<br />T'rustor agrees to pay all of Beneficiary's expenses if Trustor breaches any covenant in this 17esd of Trust. Trustor will
<br />also pey on demand all of Beneficiary's expenses incurrec! in collecting, insuring, preserving or protecting the Property
<br />nr in any inventaries, audits, inspections or othe� examination by Beneficiary in respect ta the I'raperty. 7rustor agrees
<br />to pay all costs and expenses incurred by Beneficiary in enfiorcing or protecting Beneficiary's rights and remedies under
<br />this �eed nf Trust, including, but nnt limited to, attarneys' fees, court costs, and nther legal expenses. qnce the
<br />(pyge 4 of 8)
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