|
<br />. ,
<br />
<br />o. '.... '~ " I'.) I' q'
<br />r, ,,< '" v J ~ \I ~) .;.
<br />
<br />200809508
<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 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,
<br />
<br />28. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Deed of Trust:
<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, 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 (PIK) payments and similar
<br />governmental programs (all of which shall also be included in the term "Property"),
<br />
<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,
<br />
<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,
<br />
<br />29. OTHER TERMS. If checked, the following are applicable to this Deed of Trust:
<br />
<br />I]] Une 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.
<br />
<br />[X] Agricultural Property. Trustor covenants and warrants that tl1~.Property will be used principally for agricultural or
<br />farming purposes and that Trustor is an individual QJ.eR'titY'allo)/Ved.to own agricultural land as specified by law,
<br />'."'~'''''~,'~.:' -i \~', ;.~' ,:
<br />o Separate Assignment, The Trustor hasexeclhed QrVvill eXecute a. separate assignment of leases and rents, If
<br />the separate assignment of leasesarld re!lt$'f$~prq'pedt el(ecuted and recorded, then the separate assignment
<br />will supersede this Security Instrumern's '\Assigmnent ofL:eases and Rents" section.
<br />)' '. ,",
<br />
<br />o Additional Terms.
<br />
<br />d
<br />
<br />~ @1993, 2001 Bankers Systems, Inc" St. Cloud, MN Form AGCO-RESI-NE 1/17/2003
<br />
<br />J r-A.
<br />
<br />'"
<br />
<br />/1 C "t
<br />/
<br />
<br />ltiJc(P~
<br />
|