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200005275
<br />Environmental Laws. The term "Hazardous Substances" also includes, without
<br />limitation, petroleum and petroleum by- products or any fraction thereof and asbestos.
<br />Improvements. The word "Improvements" means all existing and future improvements,
<br />buildings, structures, mobile homes affixed on the Real Property, facilities, additions,
<br />replacements and other construction on the Real Property.
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other
<br />amounts, costs and expenses payable under the Note or Related Documents, together
<br />with all renewals of, extension of, modifications of, consolidations of and substitutions
<br />for the Notes or Related Documents and any amounts expended or advanced by Lender
<br />to discharge Trustor's obligations or expenses incurred by Trustee or Lender to enforce
<br />Trustor's obligations under this Deed of Trust, together with interest on such amounts
<br />as provided in this Deed of Trust.
<br />Lender. The word "Lender" means Bremer Bank, N.A., its successors and assigns.
<br />Note. The word "Note" means the promissory note dated June 23rd, 2000, in the
<br />original principal amount of $624,000.00 from Trustor to Lender, together with all
<br />renewals of, extensions of, modifications of, refinancings of, consolidations of, and
<br />substitutions for the promissory note or agreement.
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and
<br />other articles of personal property now or hereafter owned by Trustor, and now or
<br />hereafter attached or affixed to the Real Property; together with all accessions, parts,
<br />and additions to, all replacements of, and all substitutions for, any of such property;
<br />and together with all proceeds (including without limitation all insurance proceeds and
<br />refunds of premiums) from any sale or other disposition of Property.
<br />Property. The word "Property" means collectively the Real Property and the Personal
<br />Property.
<br />Real Property. The words "Real Property" mean the real property, interests and rights,
<br />as further described in this Deed of Trust.
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit
<br />agreements, loan agreements, environmental agreements, guaranties, security
<br />agreements, mortgages, deeds of trust, security deeds, collateral, mortgages, and all
<br />other instruments, agreements and documents, whether now or hereafter existing,
<br />executed in connection with the indebtedness.
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues,
<br />royalties, profits, and other benefits derived from the Property.
<br />Trustee. The word "Trustee" means Kevin A. Brostrom, Attorney at Law, 231 S.
<br />Locust, P.O. Box 400, Grand Island, Nebraska 68802, and any substitute or successor
<br />trustees.
<br />Trustor. The word " Trustor" means IRET Properties ", a North Dakota Limited
<br />Partnership.
<br />Riders to This Security Agreement. The Riders to this Security Agreement executed by the Borrower
<br />and recorded together with this Security Instrument, certain covenants and agreements which shall be
<br />incorporated into and shall amend and supplement the covenants and agreements of this Security
<br />Instrument as if the Riders were a part of this Security Instrument.
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