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<br />chanfle in ownership of more than 25 percent of the voting stock af a r.orparation. However, Beneficiary may not
<br />demand payment in the above situations if it is prohibited by law as of the date of this Deed of Trust.
<br />91. ENTITY WARRANTI�S AND REPRESEN7p71QNS. If Trustor is an entity other than a natural person (such as a
<br />corporation or nther organization), Trustor makes to Beneficiary the following warranties and representativns which
<br />shall he cantinuing as long as the Secured pebt remains outstanding:
<br />A. 7rustor is an entity which is duly organized and validly existing in the Trustor's state of incarpnratican (or
<br />organization►. Trustor is in good standing in all states in which Trustor transacts business. Trustor has the
<br />power and authoriry ta own the Property and to carry on its I�usiness as now being conducted and, as
<br />applicable, is qualified to do so in each state in which Trustor operates.
<br />B, The exec�rtion, delivery and performance of this peed of Trust by Trustor and the obligation evidenced 6y the
<br />Evidence of Debt are within the power of Trustor, have been duly authorized, have received all ner,essary
<br />governmental approval, and will not violate any provision of law, or order of court or governmental agency,
<br />C. Other tPian discl�sed in writing 7rustor has not changed its name within tMe last ten years and has not used any
<br />other trade or fictitious narrie. Without Beneficiary's prior written consent, Trustor does not and will not use any
<br />other name and will preserve its existing name, trade names and franchises until the 5ecured Debt is satisfied.
<br />12. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. 7rustor will kesp the Praperty in good conditi�n and make
<br />all repairs that are reasvnably necessary. Trustor will give Beneficiary prompt notice of any loss or damage to the
<br />Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor will not initiate, join in or consent
<br />to any chanc�e in any private restrictive covenant, zoning ordinance or other public or private restriction limiting or
<br />definin� the uses which may be made of the Property ar any part of the Property, without Beneficiary's prior written
<br />consent. Trustor will notify Beneficiary of all demands, proceedings, claims, and actions against Trustor or any other
<br />own�r made under law or regulation regarding use, ownPrship and occupancy of the Property, Trustor will camply with
<br />all legai requirements �nd restrictions, whether pu6lic ar private, with respect to th� use of the Property. Trustnr also
<br />agrees that the nature of the occupancy and use will not change without Beneficiary's prior written consent.
<br />Na portion of the Property will be remaved, demolished or materially altered without Beneficiery's prior written consent
<br />except that Trustor has thP right to remove i�[ems of personal property comprising a part of the Prnperty that hecame
<br />worn or obsolete, provided that such personal property is replaced with other personal property at least eq��al in value
<br />to the replaced personal property, free from any title retention device, security agreement or other encumbrance. Such
<br />replacement of personal property will be deemed subject to the security interest created by this Deed of Trust. Trustor
<br />shall noT partition or subdivide the Property without Beneficiary's prior written consent, Beneficiary or Beneficiary's
<br />agents may, at Beneficiary's option, enter the Property at any reasonable time for the purpase of inspecting the
<br />Property. Any inspection of the Property shall 6e entirely for Beneficiary's taenefit and Trustor will in no way rely on
<br />Beneficiary's inspection.
<br />13. AUTWORITY TO P�RFORM. If Trustor fails to perform any of Trustor's duties under this Deed of 7rust, or any other
<br />mortga�e, deed of trust, security agreement or other lien document that has priority over this Deed nf Tr��st,
<br />Beneficiary rY�ay, without notice, perform the duties or cause them ta be performed. Trustor appoints Beneficiary as
<br />attorney in fect to sign Trustor's name or pay any amount necessary fnr perfarmanr.e. If any construction on the
<br />Property is discontinued or not carried on in a reasanable manner, Beneficiary may do whatever is necessary to protect
<br />Beneficiary's security interest in the Property, This may include completinq the canstruction.
<br />Beneficiary's right to perform for Trustar shall not create an obligation to perform, and Beneficiary's feilure to perform
<br />will not preclude Beneficiary from exercising any of Beneficiary's other rights under the law or this Deed of Trust. Any
<br />amaunts p�id by Beneficiary for insuring, preserving or otherwise protecting the Property and Beneficiary's security
<br />interest will be due on demand and will bear interest from the date of the payment until paid in full at the interest rate
<br />in effect from time to time according to the terms of the �vidence of Debt.
<br />94. AS5IGNMENT OF LEA5E5 AND RENTS. Grantor irrevocably assigns, grants and c�nveys to Lender as additinnal
<br />securiiy all the right, title and interest in the following (Prvperty),
<br />A. Existing or future leases, subleases, licenses, guaranties and any ather written ar verbal agreements for the use
<br />and occupancy of the Property, including but not limited to, any extensians, renawals, modifications or
<br />replr_iuements (Leases►.
<br />B. Rents, issues and profits, including but not limited to, security deposits, minimum rents, percentage rents,
<br />additianal rents, comman area maintenance charges, parking charges, real estate taxes, other applicable taxes,
<br />insur�nce premium r,ontributions, liquidated damages following default, cancellation premiums, "loss of rents"
<br />insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles,
<br />and all ric�hts and claims which Grantar may have that in any way pertain to or are on account of the use or
<br />occupancy of the whole or any part of the Property (Rents�,
<br />In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be
<br />regarded as a security agresmant.
<br />Grantor will promptly provide Lender with copies of the Leases and will certify these Leas�s are true and correct
<br />copies. 7he existing L�ases will 6e provided on execution of the Assignment, and all future Leases and any other
<br />information with respect to these Leases will be provided immediately after they are executed. Grantor may collect,
<br />rcceive, enjoy and use the Rents so long as Grantor is not in default. Grantor will not collect in advance any Rents due
<br />in future lease periods, unless Grantor first obtains Lender's written cons�nt. Upon d�fault, Grantor will receive any
<br />Rents iri trust for Lender and Grantor will not commingle the Rents with any other funds. When Lender so directs,
<br />Grantor will endorse and deliver any payments of Rents from the Property to Lender. Amounts collected will be applied
<br />at Lender's discretion to the Secured Debts, the costs of managing, protecting and preserving the Property, and ather
<br />necessary expenses. Grantor agrees that this Security Instrument is immediately effective between Grantnr and Lender
<br />and effer.tive as ta third parties on the recording af this Assignment,
<br />� lpaqe 3 of 8)
<br />e�-�.t3„ (c) 1993, 2001 6ankare Systems, Inc., St, Clvud, MN Form AGCO-RESI-NE 1/17/2003
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