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<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at any onetime shall not
<br />exceed $...52,450 ................... ........................... This limitation of amount dues not include interest and other fees and charges
<br />validly trade pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the tarns of this
<br />Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this Security Instrument.
<br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Dent" is defined as follows'.
<br />A. Debt incurred under the terms ofall promissory note(s), contract($), guaranty(s) or other evidence ufdcbt described below and all
<br />their extensions, renewals, modifications or substitutions. (When referencing the debts below it is suggested ohni3au include items
<br />such as harrowers' names, nose amounts, in /erest rates, maturity dates, elc.)
<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trmtor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence ofdebt executed by'I'rustor in favor ufBeneficiary executed after this Security
<br />Instrument whether or not this Security Instrument is specifically referenced. Iforme than one person signs this Security Instrument,
<br />each Trustor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by
<br />any one or more Trustor, or any one or more Trustor and others. All future advances and other future obligations are secured by this
<br />Security Instrument even though all or part may not yet be advanced. All future advances and other future obligations are secured as if
<br />made on the date offhis Security Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or
<br />future bans or advances in any amount. Any such commitment must be agreed to in a separate writing.
<br />C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by law,
<br />including, but not limited le, liabilities for overdrafts relating to any deposit account agreement between Trustor
<br />and Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the
<br />terms of this Security Instrument.
<br />This Security Instrument will not secure uny other debt if Beneficiary fails to give any required notice of the right of rescission.
<br />5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms
<br />of the Secured Debt and this Security Instrument.
<br />6 WARRANTY OF TITLE. Truster warrants that Trustor is or will be lawfully seized of the estate conveyed by this Security Instrument
<br />and has the right to it grant, convey, and sell the Property to Trustee, in trust, with power of sale. Trustor also warrants that the
<br />Property is unencumbered, except for encumbrances ofrecord.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed oftms4, security agreement or other lien document
<br />that created a prior security interest or encumbrance on the Property, Trustor agrees'
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />13.'1'o promptly deliver to Beneficiary any notices that 'I mstor receives from the holder.
<br />C. Not to al low any modification or extension of, nor to request any future advances under any note or agreement secured by the lien
<br />document without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges refuting to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies ofall
<br />notices that such amounts arc due and the receipts evidencing Tmstor's payment 'I 'roster will defend title to the Property against any
<br />claims that would impair the lien ofthis Security Instrument, Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any
<br />rights, claims or defenses Trustor may have against parties who supply labor or materials to maintain or improve the Property.
<br />9. DUE ON SALE OR ENCUMBERANCE. Beneficiary may, at its option, declare the entire balance ofthe Secured Debt to be
<br />immediately doc and payable upon the creation of, or contract for the creation of, or any lien, encumbrance, transfer or sale of
<br />the Property. ']'his right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. This covenant shal I run
<br />with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument is released.
<br />Px,xav— V 1994 Bankers Systems, the St Cloud, MN Perm USB- REDT -NE 9/4/2001
<br />(page 2 of 6)
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