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Security Instrument - Commercial /Agricultural -NE
<br />VMP® Bankers SystemsTM
<br />Wolters Kluwer Financial Services ©1993, 2011
<br />20140477o
<br />27. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first
<br />class mail to the appropriate party's address on page 1 of this Deed of Trust, or to any other address
<br />designated in writing. Notice to one trustor will be deemed to be notice to all trustors. Trustor and
<br />Beneficiary hereby request a copy of any notice of default, and a copy of any notice of sale thereunder, be
<br />mailed to each party at the address for such party set forth on page 1 of this Deed of Trust.
<br />28. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Deed of Trust:
<br />❑ Construction Loan. This Deed of Trust secures an obligation incurred for the construction of an
<br />improvement on the Property.
<br />❑ Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Trustor owns now or
<br />in the future and that are or will become fixtures related to the Property.
<br />❑ Crops; Timber; Minerals; Rents, Issues and Profits. Trustor grants to Beneficiary a security interest in
<br />all crops, timber and minerals located on the Property as well as all rents, issues and profits of them
<br />including, but not limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK)
<br />payments and similar governmental programs (all of which shall also be included in the term
<br />"Property ").
<br />❑ Personal Property. Trustor grants to Beneficiary a security interest in all personal property located on
<br />or connected with the Property. This security interest includes all farm products, inventory,
<br />equipment, accounts, documents, instruments, chattel paper, general intangibles, and all other items
<br />of personal property Trustor owns now or in the future and that are used or useful in the
<br />construction, ownership, operation, management, or maintenance of the Property. The term
<br />"personal property" specifically excludes that property described as "household goods" secured in
<br />connection with a "consumer" loan as those terms are defined in applicable federal regulations
<br />governing unfair and deceptive credit practices.
<br />❑ Filing As Financing Statement. Trustor agrees and acknowledges that this Deed of Trust also suffices
<br />as a financing statement and as such, may be filed of record as a financing statement of purposes of
<br />Article 9 of the Uniform Commercial Code. A carbon, photographic, image or other reproduction of
<br />this Deed of Trust is sufficient as a financing statement.
<br />29. OTHER TERMS. If checked, the following are applicable to this Deed of Trust:
<br />❑ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although` the Secured
<br />Debt may be reduced to a zero balance, this Deed of Trust will remain in effect until released.
<br />® Agricultural Property. Trustor covenants and warrants that the Property will be lised principally for
<br />agricultural or farming purposes and that Trustor is an individual or entity allowed to own agricultural
<br />land as specified by law.
<br />❑ Separate Assignment. The Trustor has executed or will execute a separate assignment of leases and
<br />rents. If the separate assignment of leases and rents is properly executed and recorded, then the
<br />separate assignment will supersede this Security Instrument's "Assignment of Leases and Rents"
<br />section.
<br />L Additional Terms. All water and water rights, (whether riparian, appropriative or otherwise, and whether or not appurtenant to
<br />the above described real property) wells, well permits, ditches, ditch rights, reservoir rights, storage rights,
<br />risk of abandonment of such water rights. and water stock (hereinafter referred to collectively as "water rights ") that may now, or at any time in
<br />the future, be used in connection with the above described real property.
<br />Trustor is prohibited from selling, assigning, or otherwise conveying its interest in water rights that may now, or at any time in the future, be
<br />used in connection with the real property without receiving prior written consent from the Beneficiary.
<br />Beneficiary covenants to fully utilize all water rights that may now, or at any time in the future, be used in connection with the real property
<br />while the deed of trust/mortgage is in effect in order to minimize the
<br />rick of abandonment of such water rights.
<br />AGCO - RESI -NE 7/1/2011
<br />VMP- C595(NE) (11071.00
<br />Page 9 of 10
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