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20100912i
<br />�. MAXIMUM OBI�IGATION LIMI7. The total prineipal amount af the Secured �ebt (hereafter defined) secured by this
<br />peed of Trust at any one time shall not exceed S 165 000.00 . This limitation of amaunt
<br />does not include interest, loan charges, commitment fees, brokerage commissions, attorneys' fees and other charges
<br />validly made pursuant to this beed of Trust and does not apply to advances (or intarest accrued on such advances)
<br />made under the terms of this Deed of Trust to pratect Beneficiary security and to perform any of the cavenants
<br />contained in this Qeed of Trust. Future advances are contemplated and, along with other future obtigations, are
<br />secured by this Deed of Trust even though all or part may not yet be advanced. Nothing in this Deed of Trust,
<br />however, shall constitute a commitment to make additional nr 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 fnllowing:
<br />A. The promissory note�s►, contract�s►, guaranty(ies) or other evidence of debt described below and all extensions,
<br />renewals, modificstions or substitutions (Evidence nf Deht�. (When refe�encing the debts be%w it is suggested
<br />that you include items such as borrowers' names, note amaunts, interest rates, maturity dates, etc.l
<br />Loan dated 1113012010
<br />B. All future advances from Beneficiary to 7rustor ar other future obligations of 7rustor 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 Deed of 7rust is specifically referred to in the evidence of debt.
<br />C. All obligations Trustor owes to Beneficiary, which naw exist or may later arise, to the extent not prahibited by
<br />law, including, but not limited to, liabilities far overdrafts relating to any deposit account agreement between
<br />Trustor and Beneficiary.
<br />p. All additional sums advanced and expenses incurred by Beneficiary for insu�ing, 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 beed of Trust, p�us interest at the highest rate in effect, frnm time to time, as provided in the
<br />Evidence of Debt.
<br />E, l"rustor's performance under the terms of any instrument evidencing s 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 this Deed 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 �eed of Trust 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 1�rust or if Beneficiery fails to give any required
<br />notice of the right of rescission.
<br />b. PAYMENTS. Trustor agrees to make all payments on the 5ecured Debt when due and in accordance with the terms of
<br />the Evidence af Deht or this Deed of Trust.
<br />6. WARRANTY OF TITLE. Trustor covenants that Trustor is lawfully seized of the estate conveyed by this Qeed of Trust
<br />and has the right to irrevocably grant, convey and sell to 7rustee, in trust, with power of sale, the Property and
<br />warrants that ths Property is unencumbered, except for encum6rances of record.
<br />7. CLAIMS AGAINST TI7LE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents,
<br />utilities, and other charges relating to the Property when due, Beneficiary may require Trustor ta provide to Beneficiary
<br />copies of all notioes that such amaunts 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 beed af Trust. Trustor agrees to assign tn
<br />Beneficiary, as requested by Beneficiary, any rights, claims or defenses which Trustnr may have against parties who
<br />supply labor or materials ta improve or maintain the Property.
<br />8. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed af 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 cnmply 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 modification 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, pUE ON SALE QR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the 5ecured Debt to
<br />be immediately 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 6e subject ta the
<br />restrictions imposed by federal law (12 C.�.R. 5911, as applicable. For the purposes of this section, the term
<br />"Property" alsn includes any interest to all or any part of the Property. This cnvenant 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 QF AN IN7EREST IN 7HE ORANTQR. If Trustor is an entity ather than a natural person (such as a
<br />corporatian or other organization►, Beneficiary may demand immediate payment if (1) a heneficial interest in Trustor 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 />n( Ivege 2 oi a�
<br />� 01333, �001 8ankern Sysioma, Ina.,�St. Cloud, MN Form ,aGGQ-!1G31�tiE 1l1772003 _�� _ �
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