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<br />Together with all rights, easements, appurtenarrces, 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 novo, or at any time in Lite future, be part of the real estate described
<br />above (all referred to as "Property")_
<br />3. MAXIMUM OBLIGATION LIMIT. 'I he total principal amount secured by this Security Instrument at
<br />any one time shall not exceed $ 50,219.00 _ _ _ _ This limitation of arnount 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 made under the terms of this Security instrument to protect
<br />Beneficiary's security and to perform any ofthe covenants contained in this Security Instrument.
<br />4. SECURED DEBTAND FUTURE ADVANCES. The terra "Secured Debt" is def€ncd as follows:
<br />A. Deht incurred under the terms ofall prorissory note(s), contract(s), guaranty(ies) or other evidence
<br />of debt described below and all their extensions, renewals, modifications or substitutions. (Vi/hen
<br />referencing the debts below it is suggested that you incline items such as borrowers' narnes, mote
<br />aniorints, interest rates, maturity dates, etc.)
<br />Promissory Note # 513846 dated 05/16/2012 in the amount of $50,219.00 maturing on
<br />04/25/2019
<br />B. All future advances from 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 ill
<br />favor of Beneficiary executed after this Security Instrument whether or not this Security Instrument
<br />is specifically referenced. If more than one person signs this Security histrument, each Trustor
<br />agrees that this Security Instrument will secure all future advances and future obligations that are
<br />given to or incurred by any one or more Trustor, or any one or more Trustor and others_ All future
<br />advances and other future nbligations are secured by this Security Instrument even though all or part
<br />may not yet be advanced. All future advances and other future ohligations are secured as if made on
<br />the date of this Security Instrument. 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 separaLe Writing.
<br />C. All obligations 'l rustor 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 />agreement between Trustor and Beneficiary.
<br />D. All additional sums 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 terms of this Security Instrument.
<br />This Security Instrument will not secure any other debt if Beneficiary fails to give ar€v required notice of
<br />the right of rescission.
<br />5. PAYMEN'T'S. Trustor agrees that all payments under the Secured Debt will be paid when due and in
<br />accordance with the terms of the Secured Debt and this Security Instrument_
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate
<br />conveyed by this Security Instrument and has the right to irrevocably grant, convey. and sell the Property
<br />to Trustee, in trust, with pov;er of sale. "Trustor also warrants that the Property is unencurnbered, except
<br />for encumbrances ol' record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed oftrust, security
<br />agreement or other lien document that created a prior security interest or encumbrance on the Property,
<br />Trustor agrees:
<br />A. To make all payments vvhen 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 any modification or extension of, nor to request any future advances under any note or
<br />agreement secured by the lien document without Beneficiary's prior written consent.
<br />R. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease
<br />payments, ground rents, utilities, and other charges relating to the Property when duc. Beneficiary may
<br />require Trustor to provide to Beneficiary 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 />513848
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<br />Wolters K1,�w er Financial Services <D1994, 2611 Page 2 ., 6
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