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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 expense, 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 neglects 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 require) without 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 Lender acts to manage, protect or preserve the Property, except for losses and damages due to 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 may incur when Lender opts to exercise any of its remedies against any party obligated under
<br /> the Leases.
<br /> 15. CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. If the Property includes a unit in a condominium or a planned unit
<br /> development, Trustor will perform all of Trustor's duties under the covenants, by-laws, or regulations of the
<br /> condominium or planned unit development.
<br /> 16. DEFAULT. Trustor will be in default if any of the following occur:
<br /> A. Any party obligated on the Secured Debt fails to make payment when due;
<br /> B. A breach of any term or covenant in this Deed of Trust, any prior mortgage or any construction loan agreement,
<br /> security agreement or any other document evidencing, guarantying, securing or otherwise relating to the
<br /> Secured Debt;
<br /> C. The making or furnishing of any verbal or written representation, statement or warranty to Beneficiary that is
<br /> false or incorrect in any material respect by Trustor or any person or entity obligated on the Secured Debt;
<br /> D. The death, dissolution, appointment of a receiver for, or application of any debtor relief law to, Trustor or any
<br /> person or entity obligated on the Secured Debt;
<br /> E. A good faith belief by Beneficiary at any time that Beneficiary is insecure with respect to any person or entity
<br /> obligated on the Secured Debt or that the prospect of any payment is impaired or the Property is impaired;
<br /> F. A material adverse change in Trustor's business including ownership, management, and financial conditions,
<br /> which Beneficiary in its opinion believes impairs the value of the Property or repayment of the Secured Debt; or
<br /> G. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly erodible land or to
<br /> the conversion of wetlands to produce an agricultural commodity, as further explained in 7 C.F.R. Part 1940,
<br /> Subpart G, Exhibit M.
<br /> 17. REMEDIES ON DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor with
<br /> notice of the right to cure, mediation notices or other notices and may establish time schedules for foreclosure actions.
<br /> Subject to these limitations, if any, Beneficiary may accelerate the Secured Debt and foreclose this Deed of Trust in a
<br /> manner provided by law if this Trustor is in default.
<br /> At the option of Beneficiary, all or any part of the agreed fees and charges, accrued interest and principal shall become
<br /> immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime
<br /> thereafter. In addition, Beneficiary shall be entitled to all the remedies provided by law, the Evidence of Debt, 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 addition to any other permitted remedy, at the request of the Beneficiary,
<br /> advertise and sell the Property as a whole or in separate parcels at public auction to the highest bidder for cash and
<br /> convey absolute title free and clear of all right, title and interest of Trustor at such time and place as Trustee
<br /> designates. Trustee shall- give notice of sale including the time, terms and place of sale and a description of the
<br /> property to be sold as required by the applicable law in effect at the time of the proposed 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 all moneys advanced for repairs, taxes, insurance, liens, assessments and prior encumbrances and
<br /> interest thereon, and the principal and interest on the Secured Debt, paying the surplus, if any, to Trustor. Beneficiary
<br /> may purchase the Property. The recitals in any deed of conveyance shall be prima facie evidence of the facts set forth
<br /> therein.
<br /> All remedies are distinct, cumulative and not exclusive, and the Beneficiary is entitled to all remedies provided at law
<br /> or equity, whether expressly set forth or not. The acceptance by Beneficiary of any sum in payment or partial payment
<br /> on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not
<br /> constitute a waiver of Beneficiary's right to require full and complete cure of any existing default. 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. EXPENSES; 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 covenant in this Deed of Trust. Trustor will
<br /> also pay on demand all of Beneficiary's expenses incurred in collecting, insuring, preserving or protecting the Property
<br /> or in any inventories, audits, inspections or other examination by Beneficiary in respect to the Property. Trustor agrees
<br /> to pay all costs and expenses incurred by Beneficiary in enforcing or protecting Beneficiary's rights and remedies under
<br /> this Deed of Trust, including, but not limited to, attorneys' fees, court costs, and other legal expenses. Once the
<br /> (page 4 of 8)
<br /> Per M ©1993, 2001 Bankers Systems, Inc., St. Cloud, MN Form AGCO-RESI-NE 1/17/2003 /
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