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200209092
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this
<br />Deed of Trust at any one time shall not exceed 5 78 000.00 . This limitation of amount
<br />does not include interest, loan charges, commitment fees, brokerage commissions, attorneys' fees and other charges
<br />validly made pursuant to this Deed of Trust and does not apply to advances (or interest accrued an such advances)
<br />made under the terms of this Deed of Trust to protect Beneficiary security and to perform any of the covenants
<br />contained in this Deed of Trust Future advances one contemplated arid, along with other future obligations, are
<br />secured by this Deed of Trust even though all or part may not yet be advanced Nothing in this Decd of Trust,
<br />however, shall aonetltute a aormnilment to make additional or future loans or advances in any amount. Any such
<br />cornmibnent would need to be agreed to in a separate writing.
<br />4. SECURED DEBT DEFINED. The Tenn "Secured Debt" includes, but is not limited to the following.
<br />A. The promissory notate), contractile), guarontynes) or other evidence of debt described below and all extensions,
<br />renewals, modifications or substitutions ( Evidence of Debt). (When referencing the debts below it is suggested
<br />That you include items such as bnvnwers' names, note amounts, interest rates, maturity dates, etc.)
<br />Heritage Bank Loan p 3300543 dated May 7, 2002 in the amount of $78,000.00.
<br />B. All future advances from Beneficiary to Truster or other future obligations of Trustor to Beneficiary under any
<br />Promiesary note, contract, guaranty, or other evidence of debt existing now or executed after this Deed of Trust
<br />whether or not Ili is Deed of Trust is specif[cal by referred to in the evidence of debt.
<br />C. All obligations Truster owes to Beneficiary, which now exist or may later arise, to the extent not prohibited by
<br />law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between
<br />Truster 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
<br />the terms of this Deed of Trust, plus Interest at the highest rate in effect, from time to time, as provided in the
<br />Evidence of Debt,
<br />E. Truster's performance under the terms of any instrument evidencing a debt by Truster to Beneficiary and any
<br />Dead of Trust securing, guarantying, or otherwise relating to the debt.
<br />If more than one person signs this Deed of Trust as Truster, each Truster agrees that this Dead of Trust will sooner all
<br />future advances and future obligations described above that are given to or incurred by any one or more I ru.star, nr
<br />any one or more Trustor and others. This Deed of Trust will not secure any other debt if Beneficiary fails, with respect
<br />to such other debt, to make any required disclosure ahorrt this Dead of Imst or if Beneficiary fails to give any required
<br />notice of the right of rescission.
<br />5. PAYMENTS. Truster agrees to make all payments on the Sacured Light when due and in accordance with the terms of
<br />the Evidence of Debt or this Deed of Trust.
<br />6. WARRANTY OF TITLE. Trustor covenants That I mator is lawfully seized of the estate conveyed by this Dead of Trust
<br />and has the right to irrevorahly grant, convey and sell to Trustee, in trust, with power of sale, the Property and
<br />warrants that the Property is rmencumherad, accept for encumbrances of record.
<br />7. CLAIMS AGAINST TITLE. Truster will pay all taxes, assessments, liens, encumbrances, lease payments, ground runts,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br />copies of all notices that such am oun is are due and the r ace lure evidencing Tru star's payment. Truster w lb defend title
<br />to the Property against any claims that would impair the lien of this Deed of Trust, Truster agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses which Truster may have against parties who
<br />supply labor or materials to improve or maintain the Property.
<br />S. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security inleresl or encumbrance on the Property and that may have priority over this
<br />Deed of Trust, Truster agrees, .
<br />A. To make all payments when due and to perfenn or cmnPly with all covenants. r.
<br />B. To pr onrp lly out ivw to Beneficiary any notices that Tru star receives from the holder.
<br />C. Not to make or permit any modification or extension of, and not to request or accept any future advances under
<br />any nine or agreement secured by, the other mortgage, deed of trust or security agreement unless Beneficiary
<br />consents in writing.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immediately due and payable upon the creation at any lien, encumbrance, transfer, or sale, or contract for any of
<br />These on the Property. However, if the Property includes Trustor's residence, this section shall be subject to the
<br />(says 2 0/ R)
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