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200214422 3. MAXIMUM OBLIGATION LIM 11. The Total principal amount secured by this Security Instrument at any one time shall not exceed$ 51 1nn7 This limitation ofinumad does not include interest and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the terns ofthis Security Instrument to protect Beneficiary's security and to perform any of the covenants contained in this Security Instmment 4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows: A. Debt incurred under the terms of all promissory row(s), contr wnso, guaranty(s) or other evidence of debt described below and all their extensions, renewals, modifications or substitutions- (You must specifically identify the debt(s) secured and you should include the firm! maturity date ofsuch debr(sJ J B. All future advances from Beneficiary to Traitor or other future obligations of Trusmr to Beneficiary under any promissory note, contract, guaranty, or other evidence ofdebt executed by Truster in favor of Beneficiary after this Security Instrument whether or not this Security Instrument is specifically referenced. Ifmore than one person signs This Security Instrument, each'Dustor agrees that this Security Instrument will secure all future advances and home obligations that are given to or incurred by any one or more Truster, or any one or more Truster and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced. All future advances and other future obligations are secured as if made on the date ofthis Security Instrument. Nothing in this Security Instrument shall constitute a cantonment to make additional or future loans or advances in any amount Any such commitment must be agreed to in a separate writing. C. All other obligations Torsion owes to Beneficiary, which may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Truster and Beneficiary. D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under the terms of the Security Instrument. In the event that Beneficiary fails to provide any necessary vonce of the right of rescission with respect to any additional indebtedness secured under paragraph B of this Section, Beneficiary waives any subsequent security interest in the Traitor's principal dwelling that is created by this Security Instrument (but does not waive the security interest for the debts referenced in paragraph A ofthis section). S. DEED OF TRUST COVENANTS. Truster agrees that the covenants in this suction are material obligations under the Secured Dert and this Securty Instrument If Truslur breaches any covenant in this section, Beneficiary may refuse to make additional extensions ofcredit and reduce the credit limit. By not exercising either remedy on' 1' mstor 'sbreaeh Beneficiary does not waive Beneficiary's right to later consider the event a breach if it happens again. Payments. Tmstor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terns of the Secured Debt and this Security Instrument. Prior Security Interests. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, truster agrees to make all payments when due and to perform or comply with all covenants. Tmstor also ugrees not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the Ben document without Beneficiary's prior written approval. Claims Against Title. Tmstor will pay all taxes (including any tax assessed to this Deed of 'I rest), asscssmcres, liens encumhrances, (case payments, ground rents, utilities, and other charges relating to the Properly when due. Beneficiary may require Truster to provide to Beneficiary copies of all notices that such amounts arc due and the receipts evidencing'fmstoi s payment. Tmstor will defend title to the Properly against any claims that would impair the lien of this Security Instrument. Traitor agrees to assign to Beneficiary, as requested by Beneficiary any rights, claims or defenses'] roster may have against panics who supply labor or materials to maintain or improve the Property. Property Condition, Alterations and Inspection. Traitor will keep the Property in good condition and make all repairs that are reasonably necessary. Toaster shall not commit or allow any waste, impairment, or deterioration of the Property. truster agrees that the nature ofthe occupancy and use will nut substantially change without Beneficiary's prior written consent. Truster will not permit any change in any license, restrictive covenant or easement without Beneficiary's prier written consent Tmstor will notify Beneficiary ofall demands, proceedings, claims, and actions against Truster, and of any loss or damxgc to the Property. ExpereTM 01994 Bankers Systems, Inc -, St. Cloud, MN Form USBOCP -DT -NE 9/5/2001 (page 2 of 6)