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201003848
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Last modified
1/11/2011 2:31:20 PM
Creation date
6/4/2010 2:54:09 PM
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DEEDS
Inst Number
201003848
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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 tustor will be deemed to be notice to all trustors, <br />28. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Deed of Trust; <br />^ Construction Loan. This Deed of Trust secures an obligation incurred for the construction of an improvement on <br />the Property, <br />~ Fixture Filing. Trustor grants to Beneficiary a security interest in all goads that Trustor owns naw or in the <br />future and that are or will become fixtures related to the Property. <br />~ Craps; 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 />~ 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 />® 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 />29. OTMER TERMS. If checked, the following are applicable to this Deed of Trust: <br />^ Line of Credit. The Secured petit includes a revolving line of credit provision. Although the Secured Debt may be <br />reduced to a zero balance, this peed of Trust will remain in effect until released. <br />~ Agricultural Property. Trustor covenants and warrants that the Property will be used principally far agricultural or <br />farming purposes and that Trustor is an individual or er~if~ all~~f8" i~fi, „+~r. ~~c~u ra '~~nd as specified py law, <br />^ Separate Assignment. The Trustor has executed or will esce¢ut~ ~' ~p,~pAlte ass'g~lmeht of leases and rents. If <br />the separate assignment of leases and rents is properly, execute and r.~Gc~rdr3cf, th'i3n, the separate assignment <br />will supersede this Security Instrument's "Assignment of Leases acrd Rents"° section. <br />^ Additional Terms. <br />P }~ ~ ~ (page 7 of 81 <br />C~J 1993, 7001 bankers Systems, Inc., St. Cloud, MN Form AGCO-RE5I-NE 1!17/2003 ~ U <br />
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