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� 201104192
<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 cast 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 obsarve any applicable law, Grantor will promptly notify Lender.
<br />ff Grantor neg(ects or refuses to enforce complisnce 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 iiable for the Property's maintenance, depreciation, or other losses or damages
<br />when Lender acts to manage, protect' or preserve tf�e Property, except for iosses and damages due to Lender's gross
<br />negligence or inten'tiona! torts. Oiherwise, Grantor will indemnify Lender and hold Lender harmless for all liabil'rry, 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-lews, or regulatians 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 agreemertt or arty other documeni evidencing, guarantying, securing or otherwise releting 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 materia! respect by Trustor or any person or entity obligated on the Secured Debt;
<br />D. Tha 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 e purpose that will contribute to excessive erosion of highly erodibte fand 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 OW DEFAULT. In some instances, federal and state law will require Beneficiary to provide Trustor with
<br />notice of the right to cure, madiation 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 Qart of the agreed fees and charges, accrued interest and principal shall become
<br />immediately due and payable, after groing 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 documertts including without limitation, the pov✓er to sel! the
<br />Property.
<br />If there is a default, Trustee shall, in addition to any other permitted remedy, at the request of the Beneticiary,
<br />advertise and sell the Property as a wrhole or in separate parcels at public auction to the highest bidder for cash end
<br />convey absolute title free and clear of all right, title and interest of Trustor at such time and place as Trustee
<br />designetes. Trustee shall give notice af 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 io the extent not prohibited by law, Trustee shall make �nd deliver s deed to the
<br />Property sold which conveys absolute title to tha purchaser, and after first paying all fees, charges and costs, shall pay
<br />to Beneficiary a(I moneys advanced for repairs, taxes. insurance, iiens, 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 equiry, whether expressly set farth or not. The acceptance by Beneficiary of any sum in payment or partial peyment
<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 defauft. By not exercising
<br />any remedy on Trustor's default, Beneficiary does not weive Beneficiary's right to later consider the event a default if
<br />it continues or happens again.
<br />18. EXPENSES; ADVANGES ON GOVENANTS; ATTORNEYS' FEES; COLLEC710N COSTS. Except when. prohibited by law,
<br />Trustor agrees to pay all of. Beneficiary's expenses if Trustor breaahes any covenant in this Deed of Trust, Trustor will
<br />also pay on demand a(I of Beneficiary's expenses incurred in coUecting, insuring, preserving ar protacting the Property
<br />or in any inventories, audits, inspections or other examination by Beneficiary in respect to the Ptoperty. 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, inciuding, but not limited to, attorneys' fees, court costs, and other legal expenses. Once the
<br />fpage 4 of 81
<br />�'" O 1993, 2001 Bartkers Syatems. Ine.. St. Cloud. MN Form AGCO-RES�-NE 1l17/2003
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