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200701932 3. MAXIMUM OBLIGATION LIMIT, The total principal amount of the Secured Debt (hereafter defined) secured by this Deed of Trust at eny one time shall not exceed $ 78,650.00 .. This limitation of amount does not include interest, loen chergell, commitment fees, brokerage commissions, attorneys' fees end other charges validly made pursuent to this Deed of Trust and does not apply to advances (or interest accrued on such advances) made under the terms of this Deed of Trust to protect Beneficiary security and to. perform any of the covenants contained In this Deed of Trust. Future advances are contemplated and, along with other future obligations, ere secured by this Deed of Trust even though all or part may not yet be advanced. Nothing in this Deed of Trust, however, shell constitute a commitmant to make additional or future loaris or advances in any amount, Any such commitment would need to be agreed to in a separate writing, 4. SECURED DEBT DERNED. The term "Secured Debt" Includes, but is not limited to, the following: A. The promissory note(s), contract(s), guaranty(ies) or other evidence of debt described below and all extensions, renewals, modifications or substitutions (Evidence of Debt). (When referencing the debts below It is suggested that you include items such as borrowers' names, note amounts,interest rates, maturity dates, etc.) Heritage Bank loan in the amount of $78,650 matures 02/1012012 in the name of LC Investment Properties LLC B. All future advances from Beneficiary to Trustor or other future obligetions of Trustor to Beneficiery under,any promissory note, contraot, guaranty, or other evidence of dabt existing now or executed atter this Deed of Trust whether or not this Deed of Trust is specifically referred to in the evidllnce of debt, C. All obligations Trustor owes to Benefidary, which now exist or may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit eccourit agreement between Trustor and Beneficiary. D, All edditional 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 Benefiolary unde~ the terms of this Deed of Trust, plus intarest at the highest rate in effect, from tima to time, as provided in the Evidence of Debt. E. Trustor's performance under tha terms of any instrument evidencing a debt by Trustor to Benefidary, end eny Deed of Trust securing, guarantying, or otherwise relating to the debt. If more than one person signs this Deed of Trust as Trustor, each Trustor agrees that this Deed of Trust willsecureeH:' future advances and future obligations described above that are given to or incurred by anyone or more Trustor ,or eny ona or more Trustor and others. This Deed of Trust will not ;;;acura any other debt if Benefioiary fails, with respect to such other debt, to make any required disclosure about this Deed of Trust or if Beneficiary fails to give any required notice of the right of rescission. 6. PAYMENTS. Trustor agrees to make all payments on the Securad Debt when due and in accordance with the terms of the Evidence of Debt or this Deed of Trust, 6. WARRANTY OF TITLE. Trustor covenants that Trustor is lawfully seizad of the estate conveyed by this Deed of Trust and has the right to irrevocably grant, convey and sell to Trustee, in trust, with power of 'sale,. the Property and warrants that the Property is unenoumbered, except for encumbrances of record. 7. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will dafend title to the Property against any claims that would impair the lien of this Deed of Trust. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses which Trustor may have against perties who supply labor or materials to Improve or maintain the Property. 8. PRIOR SECURITY INTERESTS. With regard to any other mongage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property and that may heve priority over this Deed of Trust, Trustor agrees: A. To make all payments when due and to perform or comply with all covenents. B, To promptly deliver to Beneficiary any notices that Trustor receives from the holder, C, Not to make or permit any modification or extension of, and not to request or accept any futura advances under any note or agreement secured by, the other mortgage, deed of trust or security agreement unless Beneficiary consents in writing. 9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, et its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of any lien, encumbrance, transfer, or sale, or contract for eny of thesa on the Property. However, if the Property includes Trustor's residence, this section shall be subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. For tha purposes of this section, the term .Property" elso includes any interest to all or any part of the Property. This covenant shall run with the Property and shall remein in effect until the Secured Debt is paid in full and this Deed of Trust is released. 10. TRANSFER OF AN INTEREST IN THE GRANTOR. If Trustor is an entity other than a natural person (such as II corporation or other organization), Beneficiary may demand immediate payment if (1 J a beneficiel interest in Trustor is sold or transferred; (2) thara is a change in either the identity or number of membars of a partnership; or (3) there is a . (p8(18 2 of 8/ ~ ICi 1993, 2001 S.nko,. Sy~om', Inc.. St, Cloud. MN Farm AGCO.I\ESI-NE 1117/2003