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<br />MAXIMUM OBLIGATION LIMIT. The total principal amount of the 5ecured pebt (hereafter defined) secured by ihis
<br />beed of Trust at any one time shall not exceed $ 150,000,00 . This limitatian of amount
<br />does not include interest, loan charges, commitment fees, brnkerage commissions, attorneys' fees and other charges
<br />validly made pursuant to this Deed of Trust and does not apply to advances (or interest accrued on such advances)
<br />made under the terms of this Deed of Trust to protect Beneficiary security and to perform any of the cnvenants
<br />conteined in this Deed of 7rust, Future advances are contemplated and, along with other future obligations, are
<br />secured 6y this Deed of Trust even though all or part may not yet be advanced. Nothing in this Deed of Trust,
<br />hnwever, shall constitute a commitment to make additianal or future loans or advances in any amount. Any such
<br />enmmitment would need to f�e agreed to in a separate writing.
<br />4. SECUFtED DEBT �EFINED. The term "Secured Debt" includes, hut is not limited to, the following:
<br />A. The promissory nnte�s►, contract(s►, guaranty(ies� or other evidence of debt described below and all extensions,
<br />renewals, modifications or su6stitutions (Evidence of pebt►. (When referencinJ the debts below it is suggester�
<br />that you include items such as borrowers' names, note amounts, interest rates, maturity dates, etc.J
<br />Heritage Bank Loan/l 3300802 of Even �ate Herewith
<br />B. All future advances from Beneficiary to Trustor or other future obligations nf Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other evidence of debt existing now or executed after this peed of Trust
<br />whether or not this Deed of Trust is specifically referred to in the evidence of debt.
<br />C. All obligations Trustor owes to Beneficiary, which now exist ar 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 />Trustar and Beneficiary,
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or oth�rwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred hy Beneficiary under
<br />the terms of this peed of Trust, plus interes# at the highest rate in effect, frnm time to time, as provided in the
<br />�vidence of Debt.
<br />E. Trustor's performance under the terms of any instrument evidencing a debt by Trustor to Beneficiary and any
<br />�e�d of Trust securing, guarantying, or atherwise relating to the debt,
<br />If more than one person signs this qeed af Trust as Trustor, each Trustor agrees that this Deed of Trust will secure all
<br />future advances and future obligations described above that are given tn nr incurred by any one or more Trustor, or
<br />any one or rnore Trustor and others. This peed caf Trust will not secure any ather debt if B�neficiary fails, with respert
<br />to such other de6t, 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 ar,cordance with the terms of
<br />the Evidence of Debt or this Deed of Trust.
<br />6. 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 pow�r 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, encumbrances, lease p�yments, ground rents,
<br />utilities, and other charges relating to the Property when due. Beneficiary may require Trustor to provide to Beneficiary
<br />copies of all notices that such amounts are due and the rac�ipts evidencing Trustvr'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 ta assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses which Trustor may have against parties who
<br />supply la6or �r rnaterials tn improve or maintain the Property.
<br />8. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />docurnent 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 perfnrm or comply with ail covenanSs,
<br />B. To 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 note or agreement secured 6y, the nther mortgage, deed of trust nr security agreement unless Beneficiary
<br />consents in writiny.
<br />9. dU� ON SALE OR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance nf the Secured Debt to
<br />be immediately due and payable upon the creation vf any lien, encum6ranca, transfer, or sale, or contract for any of
<br />these on the Property. However, if the Property innludes Trustor's residence, this ser,tion shall be subject to the
<br />restrictions imposed by federal law (12 C,F,R, 591�, as applicable. Fnr the purposes of this section, the terrn
<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. 7RpNSFER OF AN IN7EREST IN TWE GRANTOR, If Trustor is an entity ather than a natural person (such as a
<br />corporation or other organizatian►, Beneficiary may demand immediate payment if (1) a beneficial interest in Trustor is
<br />sold or transferred; (2) there is a change in either the identity or number of inembers a partnership; or (3) there is a
<br />! � I �,� _ A l/�/� lpage Z of 8)
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<br />��� (�) 1993, 2001 8ankars Systems, Inc„ St. Cloud, MN Form AGCO-RE5I-NE 1/17/lOQ3 %/`J
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