201806177 - Laserfiche WebLink

Browse

Agricultural /Commercial Real Estate Security Instrument -NE Bankers Systems TM VMP OO Wolters Kluwer Financial Services © 1993, 2011 201806177 ❑ Crops; Timber; Minerals; Rents, Issues and Profits. Trustor grants to Beneficiary a security interest in all crops, timber and minerals located on the Property as well as all rents, issues and profits of them including, but not limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK) payments and similar governmental programs (all of which shall also be included in the term "Property "). ❑ Personal Property. Trustor grants to Beneficiary a security interest in all personal property located on or connected with the Property, This security interest includes all farm products, inventory, equipment, accounts, documents, instruments, chattel paper, general intangibles, and all other items of personal property Trustor owns now or in the future and that are used or useful in the construction, ownership, operation, management, or maintenance of the Property. The term "personal property" specifically excludes that property described as "household goods" secured in connection with a "consumer" loan as those terms are defined in applicable federal regulations governing unfair and deceptive credit practices. ❑ Filing As Financing Statement. Trustor agrees and acknowledges that this Deed of Trust also suffices as a financing statement and as such, may be filed of record as a financing statement of purposes of Article 9 of the Uniform Commercial Code. A carbon, photographic, image or other reproduction of this Deed of Trust is sufficient as a financing statement. 30. OTHER TERMS. If checked, the following are applicable to this Deed of Trust: ® Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be reduced to a zero balance, this Deed of Trust will remain in effect until released. ❑ Agricultural Property. Trustor covenants and warrants that the Property will be used principally for agricultural or farming purposes and that Trustor is an individual or entity allowed to own agricultural land as specified by law. ❑ Separate Assignment. The Trustor has executed or will execute a separate assignment of leases and rents. If the separate assignment of leases and rents is properly executed and recorded, then the separate assignment will supersede this Security Instrument's "Assignment of Leases and Rents" section, ❑ Additional Terms. DESIGNATION OF HOMESTEAD Pursuant to the Farm Homestead Protection Act, designation of homestead ❑ is attached to this Deed of Trust and made a part hereof ❑ has been disclaimed; the disclaimer is attached to this Deed of Trust and made a part hereof. VMPC5951NE) (1701 ).00 AGCO - RESI -NE 1/1/2017 Page 11 of 13