|
202000344
<br />B. The obligations secured by the Deed of Trust have been modified, or certain additional
<br />obligations have been or are to be incurred which are to be secured by the Deed of Trust, or other
<br />modifications to the Deed of Trust have become necessary, and Trustor and Beneficiary have agreed to
<br />modify the Deed of Trust to accurately reflect the obligations as secured thereby or such other
<br />modifications.
<br />NOW, THEREFORE, the parties hereto agree as follows:
<br />1. The Deed of Trust is hereby modified to include within the indebtedness and obligations
<br />secured by the Deed of Trust, the payment to Beneficiary of all indebtedness and performance of all
<br />obligations evidenced by and arising under that promissory note, loan or credit agreement, confirmation
<br />letter and disclosure, or other evidence of debt, dated as of December 5, 2019, evidencing indebtedness
<br />of Brad L Bockmann and Shawndra D Bockmann to Beneficiary in the principal amount of $217,550.60
<br />(which represents the refinancing of that certain promissory note, loan or credit agreement, confirmation
<br />letter and disclosure, or other evidence of debt dated as of November 1, 2012, and secured by the Deed
<br />of Trust), together with interest thereon, and any such indebtedness or other obligations incurred under or
<br />in connection with the credit accommodation evidenced, even if not specifically referenced therein.
<br />2. As referenced and provided in the Deed of Trust, the maturity date stated for that certain
<br />promissory note loan or credit agreement, confirmation and disclosure or other evidence of debt, dated as
<br />of November 1, 2012, in the original principal amount of $340,000.00, is hereby removed and deleted.
<br />3. Deed of Trust Supplemental Provisions. The Deed of Trust is hereby amended and
<br />modified by adding the following Supplemental Provisions:
<br />Supplemental Provisions Regarding Secured Obligations, Cross -Collateralization, and
<br />Personal Property Collateral. Notwithstanding anything to the contrary in the Deed of Trust,
<br />any cross -collateralization provision and any other provisions contained therein expanding the
<br />scope of the secured obligations beyond the Note, any related "swap agreements" (as defined in
<br />11 U.S.C. Section 101), and obligations to protect and preserve collateral, shall have no force or
<br />effect.
<br />Additionally, notwithstanding anything to the contrary in the Deed of Trust, if at any time the Deed
<br />of Trust grants liens or security interests upon collateral consisting of a building or mobile home
<br />as defined in the National Flood Insurance Act (as amended) and its implementing regulations
<br />(collectively, the "Act") located in an area designated by the Administrator of the Federal
<br />Emergency Management Agency as a special flood hazard area which requires flood insurance
<br />pursuant to the terms of the Act (a "Covered Structure"), then while it is subject to such
<br />designation, any lien or security interest granted in the Deed of Trust upon personal property shall
<br />not include any items of personal property located in such Covered Structure unless all applicable
<br />requirements of the Act, if any, have been satisfied with respect to such items of personal
<br />property.
<br />4. The real property and the whole thereof described in the Deed of Trust shall remain
<br />subject to the lien, charge or encumbrance of the Deed of Trust and nothing herein contained or done
<br />pursuant hereto shall affect or be construed to affect the liens, charges or encumbrances of the Deed of
<br />Trust, or the priority thereof over other liens, charges or encumbrances, or to release or affect the liability
<br />of any party or parties who may now or hereafter be liable under or on account of said promissory notes,
<br />2
<br />
|