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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 defiaults or fails to observe any applicable law, Grantor will promptlX notify. Lender.
<br />• Ifi Gran4or neglects . or tefuses. to enforce. compliance. with xhe terms of the Leases, �_then �.ender;, tnay,., a#; l,ender's
<br />-- �'option; en#orce compliance: Grantor will not sublst; mqdify, exte,nd,' canc�l;, or otfiecWise ,alter the Leaseg�;oc accept
<br />�` the surrender of the Property cover.ed by ih� Leases (unlsss the �eases s.o: require) ;with.out L�nder's;consEnx:.�
<br />� Will not assign; compromise; subordinate or encumbec; the ;Leases and :Rents.;w.i#hout� Lender':s.;p[ior:varitten; consent.
<br />Lender does not assume. or: become .liable foc #he Property's .maintenance ather: IQs,ses or, damages
<br />- when Lender acts to manage, protect or preserve the Property; except for losses and dam�ges 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 UN1T 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 a�raem�nt ar sny o#h2c document avic#encir�, guarar.tving secUr)r!g or otherwise relating ta� the
<br />Secured Debt;
<br />C. The making or fiurnishing 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 entitjr obligated an 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 agriculfural .comynodity, as further explained in 7 C.F.R. Part 1940,
<br />Subpart G, Exhibit M.
<br />17. REMEDIES ON DEFACJLT. In'some instances federal:and state. law .w
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<br />ill ,r:equire :Beneficiary to provide Trustor with
<br />notice of tfie tight #o cure; mediation notices or other- notices and.may esta6lish time schedules: for fioreclosure actions.
<br />Subject'to these 4imitations;-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 inierest 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 7rustee
<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 Trusto�'s default; Beneficiary does not waive Beneficiary's right to later<consider the event a defiault if
<br />it continues or happens' again: - - • � . .. , , . ,..
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<br />18. EXPENSES; ADVANCES ON COVENANTS; ATTORNEYS' FEES; COLLECTIQN COSTS. Except when prohibited by law,
<br />Trustor agrees to pay all of Beneficiary's expenses i� Trusto� breaches. any covenan# in this _Deed of Trust: -Tru�tor=vvill
<br />- also pay on derciand aIl of Beneficiary's expenses incurred in coflecting,'insuring, preserving or prot�cting the Property
<br />or in any inventories; audits, inspections or other examination by Beneficiary in r,espect-to the Propertyr 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
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<br />� � 1993, 2001 Bankera Systems, lnc., St. Cloud, MN Form AGCO-RESI-NE 1/17/2003 �vr/
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