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201407883
<br />Together with all rights, easements, 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, fixtures,
<br />and replacements that may now, or at any time in the future, be part of the real estate described above (all
<br />referred to as "Property").
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at
<br />any one time shall not exceed $ 48,000.00 . This limitation of amount does not include interest
<br />and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not
<br />apply to advances made under the terms of this Security Instrument to protect Beneficiary's security and to
<br />perform 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 under the terms of all promissory note(s), contract(s), guaranty(ies) or other evidence
<br />of debt described below and all their extensions, renewals, modifications or substitutions. (You
<br />must specifically identify the debt(s) secured and you should include the final maturity date of
<br />such debt(s).)
<br />A Promissory Note dated December 10, 2014 in the
<br />amount of $48,000.00 with a balloon due on
<br />December 10, 2020 for borrowers Rojean Feldman
<br />and Bryce Feldman.
<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 in
<br />favor of Beneficiary after this Security Instrument whether or not this Security Instrument is
<br />specifically referenced. If more than one person signs this Security Instrument, each Trustor agrees
<br />that this Security Instrument will secure all future advances and future obligations that are given to
<br />or incurred by any one or more Trustor, or any one or more Trustor and others. All future advances
<br />and other future obligations are secured by this Security Instrument even though all or part may not
<br />yet be advanced. All future advances and other future obligations are secured as if made on the date
<br />of this Security Instrument. Nothing in this Security Instrument shall constitute a commitment to
<br />make additional or future loans or advances in any amount. Any such commitment must be agreed
<br />to in a separate writing.
<br />C. All other obligations Trustor owes to Beneficiary, which may later arise, to the extent not
<br />prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit
<br />account 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 />In the event that Beneficiary fails to provide any required notice of the right of rescission, Beneficiary
<br />waives any subsequent security interest in the Trustor's principal dwelling that is created by this Security
<br />Instrument.
<br />5. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material
<br />obligations under the Secured Debt and this Security Instrument. If Trustor breaches any covenant in this
<br />section, Beneficiary may refuse to make additional extensions of credit and reduce the credit limit. By not
<br />exercising either remedy on Trustor's breach, Beneficiary does not waive Beneficiary's right to later
<br />consider the event a breach if it happens again.
<br />Payments. 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 />Prior Security Interests. W ith regard to any other mortgage, deed of trust, security agreement or other
<br />lien document that created a prior security interest or encumbrance on the Property, Trustor agrees to make
<br />all payments when due and to perform or comply with all covenants. Trustor also agrees not to allow any
<br />modification or extension of, nor to request any future advances under any note or agreement secured by
<br />the lien document without Beneficiary's prior written approval.
<br />Claims Against Title. Trustor will pay all taxes (including any tax assessed to this Deed of Trust),
<br />assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the
<br />Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of all notices that
<br />such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title to the
<br />Property against any claims that would impair the lien of this Security Instrument. Trustor agrees to assign
<br />to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor may have against parties
<br />who supply labor or materials to maintain or improve the Property.
<br />Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and
<br />make all repairs that are reasonably necessary. Trustor shall not commit or allow any waste, impairment,
<br />or deterioration of the Property. Trustor agrees that the nature of the occupancy and use will not
<br />substantially change without Beneficiary's prior written consent. Trustor will not permit any change in any
<br />Security Instrument•Open- End - Consumer -NE
<br />VMP ® Bankers Systems TPA
<br />Wolters Kluwer Financial Services ® 1994, 2011
<br />xx•xx- xxx017
<br />VMPC455(NE) (1107)
<br />OCP- REDT -NE 7/1/2011
<br />Page 2 of 5
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