|
<br />(? (I i ~~ (, t U 0 t
<br />
<br />200802809
<br />
<br />27. NOTICE. Unless otherwise required bylaw,.nynotice.shall be Qiven by delivering it or by mailing it. by first.class.r:nail
<br />to the appropriate party's address on page 1 of this Oeed 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, thisOeed of Trust:
<br />
<br />o Construction Loan. ThisOeed of Trust .ecureslilnobliglltion incurred fort!1e construction of IiIn improvement on
<br />h~~. . ..
<br />
<br />CXI Fixtur. Filing. Trustor grants to. Ben,ficiary,.securltylnterElst 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; Mlnerels; Rent., 1..1.1.. and Profits. Trustor grants to Beneficiary a security interest in. all crops,
<br />timber, and minerals located on the Property a8 well as all rents, issues, and profits of them including, but not
<br />limited to, all Conservation Reserve Program ICRP) and Payment in .Kind IPIK) paymel')ts and similar
<br />governmental programs lall of which .hall also be included in the term "Property")..,
<br />
<br />
<br />. ..
<br />CXI Personal Property. Trustor grants to Beneficiary a security interest in all personal property locafed on or
<br />connected with the Property. This security int,rest includes all farm products, inventory, equipment, accounts,
<br />documents, instruments, chattel paper, general intangibles, and all other items of personal property Trustor
<br />owns now or in the. futur-e andthatliilr. Ullled or useful in the construotilm. ownership, operation, management,
<br />or maintenance of the Property. The term "personal property" specificallY excludes that property described as
<br />"househqld goods" secured in cOnTllilction with 8 "consumer" losn as those terms arEt defined in applicable
<br />federal r!gulations governing unfair snd dec::eptive credit practices. '.. . '.
<br />
<br />o Filing As Financing Statement. Trustor agrees and acknowledges that this Deed of Trust also suffices as a
<br />financing statement and a. such, may be flied of record as a financing statement of purposes of Article 9 of the
<br />Unif.o~m comm~rcial. Cqde. A ca~PQn, phQ,ographic, im~ge or other reprpduction of this Deed of Trust is
<br />suffiCient as a flna,nclng, liltatlilmtnt." '.' ,
<br />
<br />OTHER TERMS. If checked,' the following are apJjlicableto this p~Elc;l of Trust:
<br />. , ,". ' l ~.
<br />o Line of Credit. The Secured Debtincludes a revolving line of credit ,provision. Although the Securec;l Debt may be
<br />reduced tpaz13ro b~lance, tl:1i8 i:)ef.'d of Trust will remain in effect until released.
<br />
<br />o Agricultural Property. Trustor covenants and warrants that the Property will be used principallyi\<>r agricultural or
<br />farming purposes and that Trustori. anindivil:h-lllll or entity ElUo~ed to own agriculturall,ncj,fs sJ\Elcified by law.
<br />
<br />o Separate As.lgnment. The Trustor has executed or will execute . separatealilslgn",ent.~t7_.es and rents. If
<br />the sep. arat. e. ass. Ig. nm.. e. nt of lea. ses an. d. ren. t. ,s.. is pro.. per.IY... .ex.e.. cuted an.d reo corde. d, then the'sl$1trate assignment
<br />will supersede this Security Instrumlmt's "Assignment of Le,"'ll1 anlj Rents" section.
<br />
<br />o Additional Term..
<br />
<br />29.
<br />
<br />~ @1993. 2001 Bankars Systams, Ine.. St. Cloud, MN . FormAGCO'R~SI'NI;.,111712003
<br />
<br />.-.--~T----T";."
<br />I
<br />I
<br />I
<br />
<br />H. (p.g. 7~
<br />
<br />
|