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7-1
GRANTS, BARGAINS, SELLS and CONVEYS the Mortgaged Property to Trustee,
TO HAVE AND TO HOLD IN
(subject, however, to the Permitted Encumbrances),
TRUST, WITii POWER OF SALE, and Grantor does hereby bind itself, its successors
DEFEND the title to the Mortgaged
and assigns to WARRANT AND FOREVER
property unto Trustee.
ARTICLE 3
— conrcct�f[a TIONS A D COVEl°IANTS
WAE
Grantor warrants, represents and covenants to Beneficiary as follows:
Section 3.1 The to R90 iM&d Pr61[GLfl�y'-
jUtl7lmtM Grantor owns the mortgaged Property free and clear of any liens, claims
This Deed of Trust
au�valid,
or interests, except the Permitted Encumbrances.
enforceable first priority hens and security' interests against the Mortgag perry'
for agricultural or farming
J? The Land and Improvements are not used principally
purposes.
t7
Ott Section3.2 ¢uaf.IirIlSU3Yi• (a ) Grantor shall preserve and protect
interest status of this Deed of Trust and the other tarn
the first lien and security
X, Documents. If any ties or security interest other than the Permeia snd nunc �eces !s
the Mortgaged property, Grantor shall PromP y'its
asserted against
uch lien or security interest including
(a) give Beneficiary a detailed written noncethesunderlying claim in full or take such
origin, amount and other terms), and (b) pay
to cause it to be released or contest the same is compliance with the
- $
other action so as
requirements of the Loan Agreement (including the requirement of providing 3 bond or
the Senior Note and the
other securitysatisfactory to Beneficimy). (b) If the holders of
shall not be in agreement on the exercise of
Junior Note are different persons and
approval rights, or on enforcement of the Loan Agreement (exclusive of enforcement
is solely in favor of the
of any deed of taut or assignment of rents nod leases which
holders of the Senior Note and the Junior Note), or on sa isfacnon of
respective
conditions to advances, the determination of the holder of the Senior Note shall
control.
Section 3.3 EtyIDtBLIDfiP4f�' Grantor shall pay the
Indebtedness when due under the L. >= Documents and shall perform the Obhgations
in full when they are required to be performed.
Section 3.4 Rmiacemms of ttllres and Pg�4gNN1IY• Grantor shall
not without the Prior written consent of Beneficiary, permrt any of the Fixtures or
Land or lmprovements, unless the
Personalty to be removed at any time from the
item is removed temporarily for maintenance and repair or, if removed
removed