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<br />MAXIMUM OBLIGATION LIMIT. The total principal smount of the Secured Debt (hereafter defined) secured by this
<br />Deed af Trust at any one time shall not exceed S 100 000.00 . This limitation of amount
<br />daes not include interest, loan charges, cammitment fees, brokerage commissions, attorneys' fees and other charges
<br />vatidly made pursuant to this Deed of Trust and does not apply to advances (ar interest accrued on such advances)
<br />made under the terms of this Deed of Trust to protect Beneficiary security and to perfarm any of the covenants
<br />contained in this Deed 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 nat yet be advanced. Nothing in this Desd of Trust,
<br />however, shall constitute a commitment to make additional ar 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 following:
<br />A, The promissory notelsl, contractlsl, guaranty�ies) or other evidence of debt described below and all �xtensions,
<br />renewals, modifications or substitutions IEvidence of Debt►. (When �eferencing the debts belaw it is suggested
<br />that you include items such as borrowers' names, note amounts, interesi rates, maturity dates, etc.l
<br />TRUSTORS' NOTE D� EVEN QATE IN THE AMOUNT OF S80,OA0 WITH INTEREST [a15.75%,
<br />B. All future advances fram Beneficiary to Trustor or other future abligations of Trustor to Beneficiary under any
<br />promissory note, cantract, guaranty, or other evidence af debt existing naw ar 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 or 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 />Trustor and Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving vr otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by �eneficiary under
<br />the terms of this Deed of Trust, plus interest at the highest rate in effect, from time to time, as provided in the
<br />Evidence of De6t.
<br />E. Trustor's performance und�r the terms of any instrument evidencing a debt by Trustor to Beneficiary and any
<br />Deed of Trust securing, guarantying, or atherwise 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 mare 7rustor and others, This �eed af Trust will not secure any other debt if Beneficiary fails, with respect
<br />to such other debt, ta make any required disclosure about this D�ed of Trust or if Beneficiary fails to give any required
<br />natice of the right of rescissian.
<br />5. PAYMENTS. Trustor agrees to make all payments on the Secured Debt when due and in accordance with the terms of
<br />the Evidence of Debt or this peed of Trust.
<br />6. WARRANTY OF TI7LE. 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 power of sale, the Property and
<br />warrants that the Property is unencumbered, except for encumbrances nf record.
<br />7. CL.AIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease payments, graund 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 receipts evidencing Trustor'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 to assign to
<br />Beneficiary, as requested by Beneficiary, any rights, claims nr defenses which Trustor may have against parties wha
<br />supply labor or materials to improve or maintain the Property.
<br />8. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed af trust, security agresment or other lien
<br />dacument that created a prior security interest or encumbrance nn the Property and that may have priority nver this
<br />Deed of Trust, Trustar 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 ar permit any modification ar 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. DU� ON SALE OR ENCUMBRANGE. Beneficiary may, at its optipn, declare the entire balance of the Secured psbt 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 be subject to the
<br />restrictions imposed by federal law (12 C.F,R. 591►, as applicable. For the purposes of this section, the term
<br />"Property" also includes any interest to all ar 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. 7RANSFER OF AN INTER�57 IN THE GRANTQR. If 7rustor 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 Trustor is
<br />sold or transferred; (2) there is a change in either the identity or number af inembers of a partnership; or (3) there is a
<br />� ,., I lpage 2 of 81
<br />�j�"" � 1993, 2001 Bankers Syxtems, Inc., St. Cloud, MN Form AGCO-RESI-NE 1/17l2003 ����
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