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<br />change in ownership of more than 25 percent of the votiny stock of a corparation. However, Beneficiary may not
<br />dertiand payment in the ahove situations if it is prohi6ited 6y law as af thie date of this Deed of Trust.
<br />19. ENTITY WARRANTIES AND R�PRESENTATIONS. If Trustor is ari entity other than a natural person (such as a
<br />corparation or other orc�anization�, Trust:nr rnakes to Beriefici�ry tfie following warranties and representations which
<br />shall be continuing �s lony as ttie Secured Debt remains outstanding:
<br />A. Trustor is an enti[y which is duly or�anized and validly existiny in the Trustor's state of incorporation (or
<br />orc�aniratinn�. lrustor is in good standing in all states in which Tr�istor Cransacts husiness. 'Irustor has the
<br />power �nd authority to own the I'roperty and to carry on its business as now beiny cnnc�ucted and, as
<br />applicable, is qualified to do so in each state in which Trustnr operates.
<br />B. The execution, delivery and performance nf this peed nf Trust by frustor and the obliyation evidenced by ttie
<br />Evidence of Deht are within ihe power of Trustor, fiave been duly authorized, have received all nec�;ssary
<br />governmental apprnv�l, and will not violate any provision of law, or order of court or governmental agency.
<br />C. Other than discinsed in writin� Trustor has not chanyed its name within the last ten years and has not used any
<br />other trade or fir.titious narne. Without Beneficiary's priar written cons�nt, Trustor does not and will not use any
<br />nther narne �nd will preserve its existing name, trade names and franchises un[il rhe Secured I:)eht is 5atisfied.
<br />92. PROPERTY CONDITI�N, ALTERATIONS AND INSP�CTION, Trustor will keep the Property in good condition and rY�ake
<br />all repairs that are reasonably necessary. Tn�stor will c�ive Beneficiary prnmpt notice of any loss or dartiac�e to the
<br />Property. Trustor will keep the Property free of noxious weeds and grasses. Trustor will nnt initiate, join in or consent
<br />to any chanc�e in any private restrictive covenant, zoning ordinance or other pu6lic or private restriction limiting or
<br />defining the uses which may k�e made of the Property or any part of the Property, without Beneficiary's prior written
<br />consent. Tn.�stnr will notify Beneficiary of all demands, praceedings, claims, and ar..tions �gainst Tr��stor nr any other
<br />owner rriade under law or rec�ulatinn reg:�rdiny use, ownership and occupancy of the Property. Trustor will cornply with
<br />all leyal requirements and restrir,tinns, whether public or private, with respect to the use of the Property. Trustor aiso
<br />agrees that the n�t�.ire of the occupancy and use will not chanye without Beneficiary's prinr written consent.
<br />No portion of the Property will be removed, demolished or materially altered without Beneficiary's prior written consent
<br />except that Trustor fias the right to remove items of personal property cnmprisiny a part of the Property that become
<br />worn or obsolete, provided that such personal property is replaced with other personal property at least equal in value
<br />to the replac�d personal prnperty, free frnrn �f�y title retenlion device, security ayreement or other encumbrance. Such
<br />replar.ement oi personal property will be deemed subject to the security interest created by this Deed of Trust. Trustor
<br />shall not partitinn or subdivide tfie Property without Beneficiary's prior written consent. Beneficiary or Beneficiary's
<br />ayents rnay, at Benefiriary's optinn, enter the Property at �ny reasona6le tirrie f�r the purpose of inspectiny the
<br />Property. Any inspection of the Property shall be PlltlfP..IY fOf Beneficiary's benefir �nd Trustc�r will in no w�y rely on
<br />Qeneficiary If1SF7P,CtlOf1.
<br />13. AUTHORITY TO PERFORM. If Trustor fails to perfonn any of Trustor's duties under this Deed nf Trust, or any other
<br />mortgage (�P.PC� of trust, security agreem�nt or other lien doc�unent that has priority nver this peed of Trust,
<br />F�eneficiary rnay, without notice, perfonr� the duties or cause them to be perfnrmed. I'ru5tor appnints �3enefici�ry as
<br />�ttorney iri fact to sign Trustor's name or pay any amo�mt neressary for performanr.e. I( any r.nnstructinn nn r,he
<br />Property is discontinued or not rarried on in a reascmable manner, Beneficiary rYiay do whatever is necessary to protect
<br />Beneticiary's security interrst in the Property. This may inr..lude r..ompleting the cnnstruction.
<br />Beneficiary's ric�ht to perform for Trustor shall not creace an obligarion [o perform, and Beneficiary's fai�ure to perforrn
<br />will not preclude Beneficiary from exercisinc� any of Beneficiary's other rights �inder the law nr this I�PPCj of Trust. Any
<br />amnimts paid by C3eneficiary for insuring, preserving or otherwise protecting the Property and Beneficiary's ser.urity
<br />interest will be due nn demand and will bear interest frorn the date of the payment uritil p�iid in full at the interest rate
<br />in effect from time to time according To the terms of the Fvidence of pebt.
<br />14. A551GNMENT OF LEASES AND RENTS. Grantor irrevocably assigns, grants and COflVeys to I_ender as additional
<br />security all the right, title and interest in the follawing (Propertyi.
<br />A. Existing nr fut�are leases, subleases, licenses, guaranties and any other written or verbal a�reements for the 1.15P.
<br />and occupancy of the Property, inr,luding h�rt nnt limited tn, �ny extensians, reriewals, rnadificatians or
<br />replacements (Leases�,
<br />B. Rents, ISSI.JP,S and profits, including but not limited to, security deposits IllIC111l1U171 rents, percentage rents,
<br />additional rents, cortimon area maintenance charges, parking charges, real estate taxes, other applicable taxes,
<br />insurance premi�.im cantrihutions, liquidated damages following default, cancellation premiums, "loss of rents"
<br />insurance, guest receipts, revenues, royalties, proceeds, bonuses, accounts, cantract riyr,ts, general intangibles,
<br />and ali righis and claims which Grantor may have that in �ny w�y pertain to or are nn accnunt of the use or
<br />occupancy of the whr>le c�r 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 pe
<br />rec�arded as a security agreement.
<br />Grantor will prompt�y provide Lender wiih copies of the LP,c75P.5 and will aertify these Leases are true and correct
<br />copies. The existinc� L.eases will be provided on execution of the Assignment, and all future Leases and any other
<br />information with respect to these l_eases will be provided immediately after they are executed. Grantor may collect,
<br />receive, 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 consent. Upon default, Grantnr will receive any
<br />Rents in trust for Lender and Grantar will not commingls the Rents with any other funds. When Lender so directs,
<br />Grantor will endorse and deliver any payments of Rents from the Praperty to Lender. Amounts collected will be applied
<br />at Lender's discretiori to the 5ecured Debts, the costs of managing, protecting and preserving the Property, and other
<br />necessary expenses. Vrantor agrees that this Security Instrument is immediately effective I7P-iWP.P.f1 Grantnr and Lender
<br />and effective as to third parties on the recording of this Assignrnent.
<br />� ' � :-�
<br />�'� (Page 3 of 8)
<br />�Cr� ��� 7993, 2001 Bankors Syst�ms, Inr.., ;;t. Cloud, MN Form AGCO-RESI�NE 1!17r20p:? `,� ,.,..
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