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<br />200801431
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<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this
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<br />Deed of Trust at anyone time shall not exceed $ 110,221.00 . 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 on such advances)
<br />rnade under the terms of this Deed of Trust to protect Beneficiary security and to perform any of the covencmts
<br />contained in this Deed of Trust. Future advances are contemplated and, 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 Deed of Trust,
<br />11owever, shall constitute a commitment to make additional or future loans or advances In any amount. Any such
<br />commitment would need to be agreed to in a separate writing.
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<br />4. SECURED DEBT DEFINED. The term "Secured Debt" Includes, but is not limited to, the following:
<br />A The prollllssory note(s), contractlsl, guarantylles) or other evidence of debt described below and "II exterlslorls,
<br />renewals, modifications or substitutions (evidence of Debt). (When referenCing [/18 debts below il IS suggested
<br />that you include items such as borrowers' names, note amounts, interest rates, maturity dates, ete.)
<br />$110,221.00 PROMISSORY NOTE AGREEMENT #2300 134424 ISSUED BY PINNACLE BANK TO PRW, INCORPORATED, A NEBRASKA
<br />CORPORATION.
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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 existing now or executed after this Deed of Trust
<br />whether or not this Deed of Trust is specifically referred to in the evidence of debt.
<br />e All obligations Trustor owes to Beneficiary, which now exist or may later arise, to the extent not prohibited by
<br />laW, includirlg, but not limited to, liabilities for overdrafts relating to any depOSit account agreement between
<br />Trustor 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 urlder
<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. Trustor's performance under the terms of any instrument evidencing a debt by Trustor to Beneficiary and any
<br />Deed of Trust securing, guarantying, or otherwise relating to the debt.
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<br />If nwre than one person signs this Deed of Trust as Trustor, each Trustor agrees that this Deed of Trust will secure all
<br />future advances and future obligations described above that are given to or incurred by anyone or more Trustor, or
<br />anyone 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 about this Deed of Trust or if Beneficiary fails to give any required
<br />notice of the right of rescission,
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<br />5.
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<br />PAYMENTS. Trustor agrees to make all payments on the Secured Debt when due and in accordance with the terl115 of
<br />the Evidence of Debt or this Deed of Trust.
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<br />6.
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<br />WARRANTY OF TITLE. Trustor covenants that Trustor is lawfully seized of the estate conveyed by this Deed of Trust
<br />and has the right to irrevocably grant, convey and sell to Trustee, in trust, with power of sale, the Property and
<br />warrants that the Property is unencumbered, except for encumbrances of record. I
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<br />utilities. and other charges relat"ing to the F'roperty when due. Beneficiary may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title
<br />to the Property against any claims that would impair the lien of this Deed of Trust. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses which Trustor may have against parties who
<br />supply labor or materials to improve or maintain the Property.
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<br />PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreernent or other 11.011
<br />document that created a prior security interest or encumbrance on the Property and thill may have prrority over thiS
<br />Deed of Trust, Trustor agrees:
<br />A. To make all payments when due and to perform or comply with all covenants.
<br />B To promptly deliver to Beneficiary arlY notices that Trustor receives trom the holder.
<br />e. Not to make or permit any modification or extension of, and not to request or accept any future advances under
<br />any note or agreement secured by, the other mortgage, deed of trust or security agreement unless Beneficiary
<br />consents in writing.
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<br />8.
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<br />9.
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<br />DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance ot the Secured Debt to
<br />be immediately due and payable upon the creation of 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 />restrictions imposed by federal law (12 C. F. R. 591), as applicable. For the purposes of this section, the term
<br />"Property" also includes any interest to all or any part of the Property. This covenant shall run with the Property and
<br />shall remain in effect until the Secured Debt is paid in full and this Deed of Trust is released.
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<br />10.
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<br />TRANSFER OF AN INTEREST IN THE GRANTOR. If Trustor is an entity other than a natural person (such as a
<br />cor pOi otlon or other organization), Beneficiar y may demand immediate payment if (1) a beneficial ir1terest in Trustor is
<br />sold or transferred; (2) there is 0 change in either the identity or number of members of a partnership; or (3) there is a
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<br />(}ll A... J (p_/le 2 of 8)
<br />~, @ 19~3. 2001 San.o" Sy...mo, Inc.. 51. Claud. MN r"'fT1 AGCO-RE>SI NE 1/17/2003 ~ ~__~ ___
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