|
<br />200703166
<br />
<br />27. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail
<br />to the appropriate party's ilddress on page 1 of this Deed of Trust, or to any other address designated in writing.
<br />Notice to one trustor will be deemed to be notice to all trustors.
<br />
<br />28. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Deed of Tnlst:
<br />
<br />o Construction Loan. This Deed of Trust secures an obligation incurred for the construction of an improvement on
<br />the Property.
<br />
<br />o Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Trustor owns now or in the
<br />future and that are or will become fixtures related to the Property.
<br />
<br />o Crops; Timber; Minerals; Rents, Issues and Profits. Trustor grants to Beneficiary a security interest in all crops,
<br />timber, ilnd minerals located on the Property as well as all rents, issues, and profits of them including, but not
<br />limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK) payments and simililr
<br />governmental programs (all of which shall also be included in the term "Property").
<br />
<br />~ Personal Property. Trustor grants to Beneficiilry a security interest in all personal property located on or
<br />connected with the Property. This security interest includes all farm products, inventory, equipment, accounts,
<br />documents, instnlments, chattel paper, general intangibles, and all other items of personal property Trustor
<br />owns now or in the future and that are used or llseful in the construction, ownership, operation, management,
<br />or maintenance of the Property. The term "personal property" specifically excludes that property described as
<br />"household goods" secured in connection with a "consumer" loan as those terms are defined in applicable
<br />federal regulations governing unfair and deceptive credit practices.
<br />
<br />o Filing As Financing Statement. Trustor agrees and acknowledges that this Deed of Trust illso suffices as a
<br />financing statement and as such, may be filed of record as a financing statement of purposes of Article 9 of the
<br />Uniform commercial Code. A carbon, photographic, image or other reproduction of this Deed of Trust is
<br />sufficient as a financing statement.
<br />
<br />29. OTHER TERMS. If checked, the following are applicable to this Deed of Trust:
<br />
<br />o Line of Credit. The Secured Debt includes il revolving line of credit provision. Although the Secured Debt may be
<br />reduced to a zero billance, this Deed of Trust will remain in effect until released.
<br />
<br />[XI Agricultural Property. Trustor covenants and warrants that the Property will be used principally for agricultural or
<br />farming purposes and that Trustor is An individual or entity allowed to own agricultural land as specified by law.
<br />
<br />D Separate Assignment. The Trustor has executed or will execute a separate assignment of leases and rents. If
<br />the separate assignment of leases and rents is properly executed and recorded, then the separate assignment
<br />will supersede this Security Instrument's "Assignment of Leases and Rents" section.
<br />
<br />D Additional Terms.
<br />
<br />. ..'wf'.',_,.....".'~""":...',P<l'<lo~,.)j,'"y. ,.,' .',<,."_ ~
<br />
<br />.;'~,::~~~o \i'G1J.VR4TC,~ .iAA~Ja ;~.. t
<br />'uoII..O:) ,aAOH=~d " I
<br />~~~l.~:t..~.M~:~,~..~~.,.:l :"':J
<br />
<br />Ex;5~ @1993. 2001 Bankers 5ystems, Inc., St. Cloud, MN Form AGCQ.RESI-NE 1117/2003
<br />
<br />i:?
<br />
<br />:!J
<br />
<br />(page 7 of 8)
<br />
|