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<br />As long as this Assignment is in effect, Grantor warrants and represents that no default exists under the Leases, and
<br />the parties subject to the Leases have not violated any applicable law on leases, licenses and landlords and tenants.
<br />Grantor, at its sole cost and expens�, will keep, observe and perform, and require all other parties to the Leases to
<br />comply with the Leases and any applicable law.
<br />If Grantor or any party to the Lease defaults or fails to observe any applicable law, Grantor will promptly notify Lender,
<br />If Grantor nec�lects or refuses to enforce compliance with the terms of the Leases, then Lender may, at Lender's
<br />option, enforce compliance. Grantor will not sublet, modify, extend, cancel, or otherwise alter the Leases, or accept
<br />the surrender of the Property covered by the Leases (unless the Leases so requir'e) wi?hnut Lender's consent. Grantor
<br />will not assign, compromise, subordinate or encumber the Leases and Rents without Lender's prior written consent.
<br />Lender does not assume or become liable for the Property's maintenance, depreciation, or other losses or damages
<br />when L.ender acts to manage, prntect or preserve the Property, except for losses and damages due tn Lender's gross
<br />negligence or intentional torts. Otherwise, Grantor will indemnify Lender and hold Lender harmless for all liability, loss
<br />or damage that Lender rY�ay incur when Lender opts to exercise any of its rerr7edies against any party obligated under
<br />the Leases.
<br />95. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Property includes a unit in a condominium or a planned unii
<br />development, Trustor will perfarm all af Yrustor's duties �mder the covenants, by-laws, or regulations of the
<br />condominium or planned unit development.
<br />96. DEFAULT. Trustor will he in defa�ilt if any of the followinc� orcur:
<br />A. Any party obligated on the Secured Debt fails to rnake payrrient when due;
<br />B. A breach of any term or covenant in this Deed qf T��st, any prior rnortyaye or any constr�icTinn loan a�reement,
<br />security agreement or any other document evidencing, guarantying, securing or otherwise relating to the
<br />Secured Det�t;
<br />C. The makinc� or f�.�rnishing of any verbai or written representation, statement or warranty tn Benefir,iary that is
<br />false or incorrect in any materiai respect by Trustor or any person or entity obligated on the Secured Deht;
<br />D. The death, dissolution, appointment of a receiver for, or application of any debior relief I�w to, Trusttir or any
<br />person or entity o6ligated on the 5ecured Debt;
<br />F. A good faith belief by Qeneficiary at any time that Qeneficiary is insecure with respect tn .:�ny person or entity
<br />Ob�IC��iF.'L� Ofl trlP SP,CI,JfP,(� DP,�t Of tllc'7t tllP, F7(OSF]PCt of any payment IS IfT1�7..91fP.[� ()f trlP. �f(7F]F'.fl�/ 15 If1lFlflIfP.Cj;
<br />F. A material adverse chanye in Trustor's business including ownership, rnariagerrient, and firiancial conditions,
<br />which Qeneficiary in its opiriian believes irripairs the value of the Property or repayment of the Secured Uebt; or
<br />C�. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly erodi6le land or to
<br />the conversion of wetlands to produce an ayricult�ual comi7�odity, as further explained in 7(:.�.R. Part 1940,
<br />Subparr C�, Exhihit M.
<br />17. REMEOIES ON DEFAUL7. In sorne instances, federal and state law will reyuire Ber'ieficiary io provide Trustor with
<br />notice c�f thP ric�ht. to c��re, mediation notices or other notires and may establish time sr,hedules (or �nrer,lns��re �clions.
<br />Subject to these limitations, if any, Beneficiary rYiay dccelerate tlie Secured Debt and foreclose this Ueed of Trust in a
<br />manner provided by law if this Trustnr is in default.
<br />At the option of Benefir,iary, all or any part of the agreed fees and charges, accr�.ied interest and prinr,ipal shall becnme
<br />immediaiely due arid payable, after giviny notice if required hy law, upon the occurrence of a de(ault or anytime
<br />thereafter. In addition, Beneficiary shall be entitled to all the remedies provided by law, the Evidence of Uebt, other
<br />evidences of debt, this Deed of Trust and any related documents including without limitation, the power to sell the
<br />F'roperty.
<br />If Zhere is a default, Trustee shall, in addition to any ather permitted remedy, at ihe request of the Beneficiary,
<br />advertise and sell the Property as a whole or in separate parcels at public auction to the highest bicicler for cash and
<br />convey absolute title free and clear af all riyht, title and interest of Trustor at such time and place as Trustee
<br />designates. Trustee shall give noYice of sale including the time, terms and place o( sale and a description of the
<br />property to be sold as requi�ed t�y tt�e applicable law in e((er.t a1. the tin�e nf ihe propnsed sale.
<br />Upon sale of the Property and to the extent not prohibited by law, Trustee shall make and deliver a deed to the
<br />Property sold which conveys absolute title to the purchaser, and after first paying all fees, charges and costs, shall pay
<br />to Beneficiary alf moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbranr,es and
<br />interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to I rustor. Beneficiary
<br />may purchase ihe Property. The recitals in any deed of conveyance shall be prirna facie evidence af the fdcts set forth
<br />therein.
<br />All rernedies �re distinct, cumulative and not excl�.�sive, and the Beneficiary is entitled to all remedies provided at law
<br />or equity, whether express�y set forth or not. The acceptance 6y Beneficiary of any sum in payment or partial payment
<br />on the Secured pet�t attPr the balance is dGie c�r is acc:elerated nr afiter fc�rer,IpSure proceedinys are filed shall not
<br />constitute a waiver of Beneficiary's right to require full and complete cure of any existing defa��lt. By not exercising
<br />any remedy on Trustor's default, Beneficiary does not waive Beneficiary's right to later consider the event a default if
<br />it continues or happens again.
<br />18. EXP�NSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law,
<br />Trustor agrees to pay all of Beneficiary's expenses if Trustor breaches any r.ovenant in this DP.P.CI of Trust. Trustor will
<br />also pay ori demand all of Beneficiary's expenses incurred in collectinp, insuring, preserving or protecting the Prnperty
<br />or in any inventories, audits, inspections or olher examination by Beneficiary in respect to the Property. Trustor ayr�es
<br />to pay all costs and expenses incurr�d hy Beneficiary in enforcing or protectiny Beneficiary's righTs �nd rerrie�lies under
<br />this f]eed af Trust, including, but not limited to, attorneys' t�es, court costs, and other le�al expenses. Onre the
<br />`rv � (�a.qe 4 of 8J
<br />�� C�i 1993, 2001 Rankers Systems, Inc„ St. Cloud, MN Form AGCO�HE51-NE 1/17/2003 �� ���.� ,.,_.�
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