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<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 address 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,
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<br />28. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit. this Deed of Trust:
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<br />[X Construction Loan. This Deed of Trust secures an obligation incurred for the construction of an improvement on
<br />the Property.
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<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.
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<br />o Crops; Timber; Minerals; Rents, Issues and Profits. Trustor grants to Beneficiary a security interest in all crops,
<br />timber, and 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 (PIKI payments and similar
<br />governmental programs (all of which shall also be included in the term "Property").
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<br />o Personal Property. Trustor grants to Beneficiary 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, instruments, chattel paper, general intangibles, and all other items of personal property Trustor
<br />owns now or in the future and that are used or useful 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,
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<br />o Filing As Financing Statement. Trustor agrees and acknowledges that this Deed of Trust also 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.
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<br />29. OTHER TERMS. If checked, the following are applicable to this Deed of Trust:
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<br />o Line of Credit. The Secured Debt includes a revolving line of credit provision, Although the Secured Debt may be
<br />reduced to a zero balance, this Deed of Trust will remain in effect until released,
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<br />o 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.
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<br />o 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.
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<br />o Additional Terms.
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<br />Ex{5e"?i;J;: @1993, 2001 Bonkers Systems, Inc., St. Cloud, MN Form AGCQ.RESI.NE 1/17/2003 / l,.vl:;
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<br />(p8gV 7 of 8)
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