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201204019
<br />Together wiLh all rights, easenicrtts, appurtenances, royalties, mineral rights, Oil and gas rights, all water
<br />and riparian rights, ditches, and water stock and all existing and future improvements, structures,
<br />fixtures, and replacements that may now, or at any time in the suture, be part of the real estate described
<br />above (all referred to as "Property" ).
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount sect rcd by this Security Instrument at
<br />any one time shall not exceed $ _7,919.00 _ _ _. This limitation of amount does not include
<br />interest and other fees and charges validly made pursuant to this Security Instrument. Also, this
<br />limitation does not apply to advances trade under the terms of this Security instrument to protect
<br />Beneficiary's security and to perforin any of the covenants contained in this Security Instrument_
<br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A_ Debt incurred Linder the terms of all promissory notc(s), contract(s), guaranty(ies) or other LMLICncC
<br />of dc -ht described hr'.low and all their cxl'ensions, renewnls, modifications or substitutions. (THien
<br />referencirsg the debts helow if that you include items such as horroivers' nanses, note
<br />anioi as, interest rates, martlrity dates, etc.)
<br />Promissory Note # 515664 dated 05/10/2012 in the amount of $7,919.00 maturing on
<br />05/22/2017
<br />B- All Future advances f}our Beneficiary to Trustor or other future obligations of -Trustor to Beneficiary
<br />under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in
<br />favor of Beneficiary executed after this Security Instrument whether or not this Security Ins#rtnnaenl.
<br />is specifically referenced. If more than one person signs this Security Instrument, each 'Trustor
<br />agrees that this Security InStrt ITiC11L will SCC:UrC all future advances and future obligations that are
<br />given to or incurred by any one or more Trustor, or any one or more Truster and others. All future
<br />advances and other Nature obligations Lire secured by Lhis Scctn-ity Instrument even though all or part
<br />may not yet be advanced- All fintttre advances and other Nam- oblig;alions are secured as if made on.
<br />the date of this Security InStrtnrieint- Nothing in this Security Instrument shall constitute a
<br />commitment to make additional or future loans or advances in any amount. Any such commitment
<br />must be agreed to in a separate writing.
<br />C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by
<br />law, including, but not limited to, liabilities for overdrafts relating to any deposit account
<br />agrecmcnt between Trustor and Beneficiary.
<br />D. All additional stuns advanced and expenses incurred by Beneficiary for insuring, preserving Or
<br />otherwise protecting the Property and its value and any other sums advanced and expenses incurred
<br />by Beneficiary under the teuils of this Security Instrument.
<br />This Security Instrument will not secure any other debt if Berterciary l:ai€s to give any required notice of
<br />the right Of rescission.
<br />5, PAYMENTS. TrUSLOF agrees that all payn-tents under the Secured Debt will ]bc paid when clue and in
<br />accordance with the teens 01-1111C Secured Debt and this Security Instrument_
<br />6. WARRANTY OF TITLE. Trustor wirrnnt.s thni Trustor is or will be lawfully seizes( of the estate
<br />conveyed by this Security InArunnent and has the right to itevoCbty grant, convey, and sell the Property
<br />to 'Trustee, in trust, with power of sale_ TrnStor also warrants that the Property is uncncunnbered, except
<br />for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, decd of trust, security
<br />agFCCrrlent OF Other llCrl dOeunTCrit that created a prior security interest or encuinbrance on the Property,
<br />Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to allow anv modification or extension of, nor to request any future advances uridcc ally note or
<br />agrccrrtcrtt scCured by the lien docunnent without Beneficiary's prior wFitteln consent.
<br />S. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessnncnts, liens, cncull-lbrances, lease
<br />payments, ground rents, utilities, and other- charges relating to the Property when due. Benetieiary Indy
<br />rCcluire Trustor to provide to Dencliciary copies of all notices that such amounts are due and the receipts
<br />evidencing Trustor's payment. Trustor will defend title to the Property against any claims that would
<br />impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by
<br />Beneficiary, any rights, claims or defenses Trustor may have against parties who supply labor or
<br />materials to maintain or improve the Property.
<br />5'5664
<br />3ecu city €n ci rem gni-f:nnsnmar-NF RE -Gr -NE 713
<br />tf RRP @. k3ankcr� Sy�t—,— VMPC 1651NEa ('. 107)
<br />1No{ters Y,l er Fl nancial Services ©i 994 2011 Page 2 of 6
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