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<br />3. MAXIMUM OBI.IGA710N LIMIT. The total principal amvunt of the Secured bebt (hereafter defined� secured by this
<br />Deed of Trust at any one time shall not exceed S 10,000.00 _. This limitation of amount
<br />does not include inte�est, loan charges, commitment fees, brokerage commissions, attorneys' fees and nther charges
<br />validly made pursuant to this Deed of Trust and does not apply ta advances (or interest accrued on such advancas)
<br />made under the terms of this Deed of Trust to protect Beneficiary security and to perform any of the covenants
<br />contained in this Desd of Trust. Future advances are contemplated and, along with other future obligations, are
<br />secured by this Deed of Trust even though all or part may not yet 6e advanced. Nothing in this Deed of Trust,
<br />however, shall constitute a commitment to make additional ar future loans or advances in any amount. Any such
<br />commitment wauld need to be agreed to in a separate writing.
<br />�L. SECURED D�BT DEFINED. The term "Secured Debt" includes, but is not limited to, the following:
<br />A. The promissory nate�s►, contract�s►, guaranty(ies) nr other evidence of debt described below and all extensions,
<br />renewals, modifications or substitutions (�vidence of Debt�. fWhen referencing the debts be%w it is suggested
<br />that you include items such as borrawers' names, note amounfs, interest rates, maturiiy dates, etc.J
<br />Loan in the amount of S 10,000 in the names of Jay and Julie Hehnke
<br />B. All future advsnces from Beneficiary to Trustor or other future obligations of Trustar to Beneficiary under any
<br />promissory nate, contract, guaranty, or other evidence af debt existing now or executed after this Deed af Trust
<br />whether or not this Deed of Trust is specifically referred to in the evidence of debt.
<br />C. All obligations 7rustor owes to Beneficiary, which now exist or may later arise, to the extent not prohibited by
<br />Iaw, including, but not limited to, liabilitiss for overdrafts relating to any deposit account agreement between
<br />Trustor and Baneficiary.
<br />p. All additional sums advsnced and expenses incurred by Beneficiary for insuring, preserving ar otherwise
<br />protecting the Praperty and its value and any other sums advanced and expenses incurred by Beneficiary under
<br />the terms of this Deed nf 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 persnn signs this Deed of 7rust as Trustor, each T'rustor agrees that this Qeed of Trust will secure all
<br />future advances and future obligations described above that are given to or incurred by any one or more Trustor, or
<br />any one or more Trustor and others. This Deed of 7rust will not secure any other debt 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 rescissian.
<br />b. PAYMENTS. Trustor agrees to make all payments on the 5ecured bebt when due and in accordance 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 irrevacably grant, convey and sell to Trustee, in trust, with power of sale, the Property and
<br />warrants that the Property is unencumbered, except far encumbrances of recnrd.
<br />7. CLAIMS A(3AIN5T TITLE. 7rustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Praperty when due. Beneficiary may require Trustor to provide to Beneficiary
<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 I�esd of Trust. Trustor agree,� to assign to
<br />Beneficiary, as requested 6y Beneficiary, any rights, claims or defenses which Trustor may have against parties who
<br />supply labor or materials to improve or mamtain the Property.
<br />8. PRIOR SECURI7Y INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Praperty and that may have priority over this
<br />Deed of Trust, Trustor agrees:
<br />A. To make all payments when due and to perform ar comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C, Not to make or permit any madification or extension of, and not to request or accept any future advances under
<br />any note or agreement secured by, the other mortgage, deed of trust or security agreement unless Beneficiary
<br />consents in writing.
<br />9. DUE ON SALE OR ENCUMBRAMCE. Beneficiary may, at its option, declare the entire balance of the Secured Debt to
<br />be immadiately due and payable upon the creation of any lien, encumbrance, transfer, or sale, or 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 impnsed by federal law (12 C.F.R. 591►, as applicable. For the purposes of this section, the term
<br />"Property" alsa includes any interest to all or any part of the Property. 1"his covenant shall run with the Property and
<br />shall remain m effect until the Secured Debt is paid m full and this beed of Trust is released.
<br />10. TRANSFER OF AN INTEREST IN 7HE GRANTQR. If Trustor is an entity other than a natural person (such as a
<br />corporation or other organization►, Beneficiary may demand immediate payment if (1 � a beneficial interest in 7rustor is
<br />sold or transferred; (2) there is a change in either the identity or number of inembers of a partnership; or (3) there is a
<br />��) /pege2of8)
<br />��"" � 1993, 2001 8ankers Systema, Inc., St. Cloud, MN Form AGCD-RESI-NE 1/17l2003 �
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