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<br />200710694
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<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount sccured by this Security Instrument at any onc time shall
<br />not cxcecd $ J.Q,~Q.o,o.Q..................................... . This limitation of amount does not include interest and other fees
<br />and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under
<br />the tenus of this Security Instrumcnt to protect Beneficiary's security and to perform any of the covenants contained in this
<br />Sccurity Instrumcnt.
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<br />4. SECURED DEBT AND FUTURE ADVANCES. The tenu "Secured Debt" is defined as follows:
<br />A. Debt incurred under the terms of all promissory note(s), contract(s), guaranty(s) or other evidence of debt described
<br />below and all their extensions, renewals, modifications or substitutions. (You must specifically identify the debt(s)
<br />secured and you should include the final maturity date of such debt(s).)
<br />All amounts payable to Lender at any time under a U.S. BANK EQUILlNE AGREEMENT dated 12/26/07, signed
<br />by FRANCIS G SPARKS. The length of the repayment period and the maturity date will depend on the amounts
<br />owed at the beginning of the repayment period, but it will end no later than the maturity date of 12/26/32.
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<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt executed by Trustor in favor of Beneficiary after this
<br />Security Instrument whether or not this Security Instrument is spccifically referenced. If more than one person signs
<br />this Security Instrument, each Trustor agrees that this Security Instrument will secure all future advances and future
<br />obligations that are given to or incurred by anyone or more Trustor, or anyone or more Trustor and others. All
<br />futurc advances and othcr futurc obligations are secured by this Security Instrument even though all or part may not
<br />yet be advanced. All future advances and other future obligations are secured as if made on thc datc of this Security
<br />Instrument. Nothing in this Security Instrument shall constitute a commitment to make additional or future loans or
<br />advances in any amount. Any such commitment must bc agreed to in a separate writing.
<br />C. All other obligations Trustor owcs to Beneficiary, which may later arise, to thc extent not prohibited by law,
<br />including, but not limited to, liabilities for overdrafts rclating to any deposit account agreement betwccn Trustor and
<br />Beneficiary _
<br />D. All additional sums advanced and cxpcnses incurred by Beneficiary for insuring, prcscrving or otherwise protecting
<br />the Property and its value and any other sums advanced and expenses incurred by Beneficiary under thc tenus of this
<br />Security Instrument.
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<br />In the event that Beneficiary fails to provide any neccssary notice of the right of rescission with respcct to any additional
<br />indebtedncss secured under paragraph B of this Section, Beneficiary waives any subsequent security interest in the
<br />Trustor's principal dwelling that is created by this Security Instrument (but docs not waive the security interest for the
<br />debts referenced in paragraph A of this Section).
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<br />S. DEED OF TRUST COVENANTS. Trustor agrees that the covenants in this section are material obligations under the
<br />Secured Debt and this Security Instrument. If Trustor breaches any covenant in this section, Beneficiary may refuse to
<br />make additional extensions of credit and reduce the credit limit. By not exercising either remedy on Trustor's breach,
<br />Beneficiary docs not waive Beneficiary's right to later consider the event a breach if it happens again.
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<br />Payments. Trustor agrees that all payments under the Secured Debt will bc paid when due and in accordance with the
<br />tenus of the Secured Debt and this Security Instrument.
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<br />Prior Security Interests. With rcgard to any other mortgage, deed of trust, security agrcement or other lien document that
<br />created a prior security interest or encumbrance on the Property, Trustor agrees to make all paymcnts when due and to
<br />perform or comply with all covenants. Trustor also agrees not to allow any modification or extension of, nor to request
<br />any future advances under any notc or agreement secured by the lien document without Benef1ciary's prior written
<br />approvaL
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<br />Claims Against Title. Trustor will pay all taxes (including any tax assessed to this Deed of Trust), assessments, liens,
<br />encumbrances, lease payments, ground rents, utilities, and other charges rclating to the Property when due. Beneficiary
<br />may require Trustor to provide to Beneficiary copies of all notices that such amounts arc due and the receipts evidencing
<br />Trustor's payment. Trustor will defend title to the Property against any claims that would impair the lien of this Security
<br />Instrument. Trustor agrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses Trustor
<br />may have against parties who supply labor or materials to maintain or improve the Property.
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<br />Property Condition, Alterations and Inspection. Trustor will keep the Property in good condition and make all rcpairs
<br />that are reasonably nccessary. Trustor shall not commit or allow any wastc, impairment, or deterioration of the Property_
<br />Trustor agrees that the naturc of thc occupancy and use will not substantially ehangc without Beneficiary's prior writtcn
<br />consent. Trustor will not permit any changc in any license, restrictive covenant or casement without Beneficiary's prior
<br />written consent. Trustor will notify Bcneficiary of all demands, proceedings, claims, and actions against Trustor, and of
<br />any loss or damage to the Property.
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<br />~pag8 2 ~':~
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<br />Ex:j5er-'d.M @1994 Bankors Systems, Inc" St. Cloud, MN Form USBOCP-OT-N~ 9/5/2001
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