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<br />discretion to the Secured Debts, the costs of managing, protecting and preserving the Property, and other
<br />necessary expenses. Trustor agrees that th s Security Instrument is immediately effective between Trustor
<br />and Beneficiary and effective as to third par ies on the recording of this Assignment.
<br />As fong as this Assignment is in effect, Trustor warrants and represents that no default exists under the
<br />Leases, and the parties subject to the Leas s have not violated any applicable law on leases, ticenses and
<br />landlords and tenants. Trustor; at its sole c st and expense, will keep, observe and perform, and require all
<br />other parties to tfie Leases to comply with t e Leases and any appficable law.
<br />If Trustor or any party to ,the Lease defa�
<br />notify Beneficiary..lf Trustor neglects. or re
<br />Beneficiary may, at Beneficiary's option,
<br />cancel, or otherwise alter the Leases, or ac
<br />the Leases so require) without Be�eficiary
<br />encumber the Leases and Rents without BE
<br />become liable for the Property's maintena
<br />acts to manage, protect or preserve the Pr�
<br />negligence or intentional torts. Otherwise,
<br />for a11 liability, loss or damage that Bene
<br />remedies against any party obligated under
<br />15. CONDOMINlUMS; PLANNED UN{T QEVEL
<br />planned unit development Trustor will p
<br />regulations of the condominium or planned
<br />or fails to observe any applicable law, Trustor will promptly
<br />ses to enforce compliance with the terms of the Leases, then
<br />�force compliance. Trustor will not sublet, modify, extend,
<br />pt the surrender of the Property covered by the Leases (unless
<br />consent. Trustor will not assign, comprom�se, subordinate or
<br />ficiary's prior written consent. Beneficiary does not assume or
<br />;, depreciation, or other losses or damages when Beneficiary
<br />;rty, except for losses and damages dus to Beneficiary's gross
<br />astor will indemnify Beneficiary and hold Beneficiary harmless
<br />ary may incur when Beneficiary opts to exercise any of its
<br />; Leases.
<br />ENTS. If the Property includes a unit in a condominium or a
<br />m aIJ of Trustor's duties under . the covenants, by-laws, or
<br />development.
<br />16. DEFAULT. Trustor will be in default if any oi
<br />A. Any party obligated on the Secured D�
<br />B. A breach of any term or covenant in
<br />agreement, secunty agreement ar any
<br />relating to the Secured Debt;
<br />C. The making or furnishing of any
<br />Beneficiary that is false or incorrec�
<br />obligated on the Secured Debt;
<br />D. The death, dissolution, appointment
<br />Trustor or any person or entity obligat
<br />E. A good faith belief by Beneficiary at �
<br />or entity obligated on the Secured I
<br />Property is impaired;
<br />F. A material adverse change in Trust�
<br />conditions, which Beneficiary in its o�
<br />the Secured Debt; or
<br />G. Any loan proceeds are used for a pur
<br />land or to the conversion of wetlands
<br />C.F.R. Part 1940, Subpart G, Exhibit I
<br />the follawing occur:
<br />bt fails to make payment when due;
<br />his Deed of Trust, any prior mortgage or any construction loan
<br />other document evidencmg, guarantying, securing or otherwise
<br />erbal or written representation, statement or warranty to
<br />in any material respect by Trustor or any person or entity
<br />�f a receiver for, or application of any debtor relief law to,
<br />�d on the Secured Debt;
<br />�y time that Beneficiary is insecure with respectto any person
<br />ebt or that the prospect of any payment is impaired or the
<br />�'s business including ownership, management, and financia{
<br />nion believes impairs the value of the Property or repayment of
<br />�ose that will contribute to excessive erosion ofi highly erodible
<br />to produce an agricultural commodity, as further explamed in 7
<br />17. REMEDIES ON DEFAULT. In some instanc s, federal and state law will require Beneficiary to provide
<br />Trustor with notice of the right to cure, medi tion notices or other natices and may establish tirne schedules
<br />for foreclosure actions. Subject to these li itations, if any, Beneficiary may accelerate the Secured Debt
<br />and foreclose this Deed of Trust in a manner rovided 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
<br />shall become immediately due and payable, fter giving notice if required by law, upon the occurrence of a
<br />default or anytime thereafter. In addition, B neficiary shall be entitled to all the remedies provided by law,
<br />the Evid�nce of Debt, other evidences of debt, this Deed of Trust and any related documeMs including
<br />without Iimitatibn, the po�nrer to setl the Prop rty.
<br />ff there is a default, Trustee shall, in add tion to any other permitied remedy, at the request of the
<br />Beneficiary, advertise and sell the Property a a whole or m separate parcels at pubHc auction to the highest
<br />bidder for cash and convey absolute title fre and clear of all right, title and interest of Trustor at such time
<br />and place as Trustee designates. Trustee sha 1 give notice of sale mcluding the time, terms and place of sale
<br />and a description of the property to be sold as required by the applicable !aw in effect at the time ot the
<br />proposed sale.
<br />Security Instrumerrt-CommerciaVAgricuttural-NE
<br />VMP� Bankers SystemsTM
<br />Wokers Kluwer Finencial Sarvices 0 2011
<br />AGCO-AESI-NE 7/1/2011
<br />VMP-0595(NE) (1107).00
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