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OCT-�6-201� 12:53 W�STERN NATIQNAL BANK 785 244 6256 P.002�009
<br />2oioo�5s�
<br />�- MAXIMUM aBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this
<br />Deed of Trust at any one time shall not exceed $ 160,000.00 . This limitation of amount
<br />does not include interest, Inan cherges, commitment fees, brokerage commissinns, attorneys' fees and other charges
<br />validly m ede pursuent to this �eed ofi Trust and does not apply to edvances (orinterest accrued on such edvances)
<br />made under the terrns of this Deed of Trust to prntect Beneficiary security and ta perform any of the cnvenants
<br />contained in this Deed of Trust. Future advances are contemplated and, along with nther future obligations, are
<br />secured by this peed nf Trust even though all or part may not yet be advanced. Nothing in this Daed of Trust,
<br />however, shell constitute a commitment to make edditionel or future loans or advances in any amount. Any such
<br />commitment wauld need to be agreed to in a separate writing.
<br />4. SECURED DEB7' C7EFWED. The term "5ecured Debt'" includes, but is not limited to, the following:
<br />A. 7he promissory note�s►, contract�s►, guerantylies) or other evidence of de6t descrihed below end all extensions,
<br />renewals, modifications or substitucians (Evidence of Debt), (When referencrng rhe debts bebw rt is suqqested
<br />that you include items such as borrowers' names, note amounts, interest rates, maturrty dates, etc.1
<br />A PRAMISSQRY NDTE DATEU 10(01 J2010 IN THE AMOUNT OF S 160,000.00 El(ECUTEQ BY PANOWICZ CATTLE COMPANY LLC; MICHAEL A.
<br />PANOWICZ, OWNER & INDIVIDUALI.Y; JOHN A PANOWICZ, OWNER AND INDIVOUALLY; ROBERT M. PANOWICZ, QWNER & INDIYIDUALLY;
<br />B. All future advances fram Beneficiary to Trustor or other future nbligations of Trustar to �eneficiary under any
<br />promi5sory note, contract, guaranty, or other evidence of debt existing now or executed after this Deed of Trust
<br />whether or not this Deed of 7rust is specifically referred to in the evidence of debt.
<br />C. All obligetions Trustor owes to Beneficiary, which now exist or may later arise, to the extent not prohibited by
<br />law, including, but not limited tn, liebilities for overdrafts relating to any deposit account agreement batween
<br />Trustor and Beneficiary.
<br />D. All additinnal sums advanced and expenses incurred by Beneiiciary for insuring, preserving or otherwise
<br />protecting the Property and its value and eny other sums edvanced and expenses incurred by Beneficiary under
<br />the terms of this Deed nf Trust, plus interast at the highest rate in effect, frnm time tn time, as provided in cha
<br />Evidence of Deht.
<br />�, Trustor's perfarmance under the terms of any instrument evidencing a debt by Trustor to eeneficiary and any
<br />peed of Trust securing, guarentying, or otherwise relating to the debt.
<br />If more than vne person signs this Deed of Trust as 7rustor, each Trustor agrees that this Deed of Trust will s�cure all
<br />future advances and future obligatians described ahove that are given to nr incurred by any one or more Trustor, or
<br />any one or more Trustor and others. This Deed of Trust will not secure any other debt ifi Beneficiary fails, with respect
<br />to such other debt, to meke any required disclosure about this peed of Trust nr if Beneficiery fails to give any required
<br />notice of the right of re5cission.
<br />5. PAYMENTS. Trustor agrees to meke all payments on the 5ecured Debt when due and in accordance with the terms of
<br />the Evidence af Debt or this �eed af Trust.
<br />6. WARRANTY OF TITLE. Trustnr cnvenants that 7rustor is lawfully seized of the estate cnnveyed �y this qeed af Trust
<br />end h�s the right to irrevocably grant, convey and sell to Trustee, in trust, with power vf sale, the Property and
<br />warrants that che Property is unencumbered, except for encumbrances af record,
<br />7. CLANMS AGANNS7 TITLE Trustor will pay sll tsxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when clue. Beneficiary may require Trustor to provide to Benefieiary
<br />anpies nf all nntices that such amounts are due and the reoeipts evidencing Trustor's payment. Trustor will defend title
<br />to the Property against any claims that would impair the lien of this Desd of Trust. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses which 7rustor mey have against parties who
<br />supply labor or materials to improve or maintain the Property.
<br />8. PRIOR SECURITY INT�RESTS. With reqard to any other mortgage, deed of trust, security agreement or other lien
<br />document that created a priar security interest or encumbrance nn the f'roparty and #hat may have priority over this
<br />peed of Trust, Trustor agrees:
<br />A. Tn make all payments when dus and to pe�form or comply with all cnvenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C, Not to make or permit any mndificatian or extension af, and not to request nr accept any future advances under
<br />eny note or agreement secured py, the other mortgage, deed of trust or security agreement unless Benefiiciary
<br />cansents in writing.
<br />9. DU� ON Sf�1LE OR �NCUMBRANC�. Beneficiary may, at its optinn, declare the entire balance af the Secured pebt to
<br />be immediately due and payable upon the creation of any lien, encumbrance, transfier, or sale, or contract for eny of
<br />these on the Property. Hnwever, if the C'raparty includes Trustor's residence, this sectinn shall be subject to the
<br />restrictions imposed by federal law (12 C.F.R. 691►, as applicable. For the purposes of this section, the term
<br />"Property" also includes any interest to all or any part af 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. TRANSFER �F AN INTEREST IN THE GRANTaR. If Trustor is an entity other than e netural person (such as a
<br />corpnration ar ather organization►, Beneficiary may demand immediate payment if (1! a beneficial inte�est in Trustor is
<br />sold pr transferred; (7) there is a change in either the identity or num6er of inembers of e partnership; or (3► there is a
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