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<br />2ooso~sss
<br />~• MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this
<br />peed of Trust at any one time shall not exceed S 75D DDD.DD .. This limitation of amount
<br />dnes not. include interest,. loan charges, commitment fees, brokerage commissions, attorneyg' fees and other charges
<br />validly made pursuant to this Deed of Trust and,does 'not apply tv advances (or interest accrued an such advances)
<br />made .under the terms of this Deed of; TrrfSt to protect Benefie.iary security .and to perform any of the covenants
<br />contained, in this Deed of Trust.. Future 'advances. are contemplated grad, along. with other future. obligations, are
<br />secured by this Deed of Trust even though all or part may ~aot yet be advanced. Nothing in this peed of Trust,
<br />however, shall constitute a commitment t0 m'-eke add$tional pj' future loans or advances in 'any amount. Any such
<br />commitment would need to be agreed to, in a separate Writing.
<br />4. SECURED DEBT DEFINED. The term "secured Debt" includes, but is not limited to, the following:
<br />A. The promissory note(s), contract(s), guaranty(ies) or other evidence of debt described below and all extensions,
<br />renewals, modifications or substitutions (Evidence of Debt, (When referencing the debts be/ow it is suggested
<br />that you ine/ude items such as borrowers' names, note amounts, interest rates, maturity dates, etc.l
<br />PROMISSORY NOTE EXECUTED 2.11.09 BY KEVIN ANO LDRI RAINFORTH AND ALL OTHER PROMISSORY NOTES EXECUTED BY BORROWER TD
<br />LENDER
<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 peed of Trust is specifically referred to in the evidence of debt.
<br />C. All obligations Trustor owes to Beneficiary, which now exist or may later arise, to the extent not prohibited by
<br />law, including, 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 under
<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,'
<br />If more than one person signs this Deed of Trust as Trustor, each Trustor agrees that thjs Deed of Trust will secure. all
<br />future advances and future obligations described above that a"re. given to or incurred by, any one or more Trustor, or
<br />any one nr more Trustor and others, This peed of Trust vvill not secure any other,debf 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.
<br />5. PAYMENTS. Trustor agrees to make all payments on the Secured Debt when due and in accordance with the terms of
<br />the Evidence of Debt or this peed of Trust.
<br />B. 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.
<br />7. CLAIMS AGAINST TITLE. Trustor, will pay all taxes,. ,assessments, .liens,.encumhrances,. i~as,e,Payrpen ~~„grourt~l regts,
<br />utilities, and other charges relating to the Property'vuhen due. Beneficiary 'may require Trustor to pravi~e to 613heficiary
<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.
<br />8. PRIOR SECURITY INTERE5T5. With regard to any nther mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Property and that may have priority 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. Tn promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to make or permit any modification or extension of, and not to request or accept any future advances under
<br />any nnte or agreement secured by, the other mnrtgage, deed of trust or security agreement unless Beneficiary
<br />consents in writing,
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immediately due and payable upon the creation of any lien, encumbrance, transfer, or sale, yr 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.
<br />10. TRAN5FER OF AN INTEREST IN THE GRANTOR. If Trustor is an entity other than a natural person (such as a
<br />corporation or nther organization, Beneficiary may demand immediate payment if 11) a beneficial interest in Trustor is
<br />sold ar transferred; 121 there is a change in either the identity or number of members of a partnership; or (3) there is a
<br />(page 2 of SJ
<br />.EXp I'C~eM 01893.2001 f3anlcersSvstems, hc.,Sx, C'.ini~~1, MN Form .0.~COnrglai~ 1/17i2G03--
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