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�a1�.00029
<br />3• MAXIMUM OBLIGATION LIMIT. The total principal amount ot the Secured Debt (hereafter defined) secured by this
<br />Deed of Trust at any one time shall no# exceed $ 128,565.94 . This limitation of amount
<br />does nat include interest, loan charges, commitment fees, brokerage 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 pratect Beneficiary security and to perform 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 not yet be advanced. Nothing in this Deed of Trust,
<br />however, shall constitute a commitment to make additional or future loans or advances in any amount. Any such
<br />commitment would need tn be agreed to in a separate writing.
<br />4. SECURED DE6T DE�INED. The term "5ecured Debt" includes, but is not limited to, the fnllowing:
<br />A. The pramissory note�s►, contract(s►, guaranty(ies) or other evidence of debt described 6elow and all extensions,
<br />renewals, modifications or substitutions (Evidence of Debt). 1When referencing the debts below it is suggested
<br />that you inelude items such as bor�owers' names, note amaunts, interest rates, maturity dates, etc.1
<br />Laan in the amaunt af S 128,565.94 executed by Starostka Rentals, LLC fka p&D Invesments, A Partnership
<br />B. All future advances from Beneficiary tn Trustor or other future obligations of 7rustor to Beneficiary under any
<br />promissory note, eontraci, guaraniy, or other evidence of debt existing now or executed after this Deed of Trust
<br />whether or not this Deed of Trust is specifically referred ta in the evidence of debt.
<br />C. All abligations 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 ar otherwise
<br />protecting the Property and its value and any other sums advanced and expenses incurred by Beneficiary under
<br />the terms of this Deed af Trust, plus interesi at the highest rate in effect, from time to time, as provided in the
<br />Evidence of Debt.
<br />E. 7rustor'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 ane person signs this Deed of Trust as 7rustor, each Trustor sgrees that this Deed of Trust will secure all
<br />future advancas and future abligations described above that are given to or incurred by any one or more Trustor, or
<br />any one or more Trustor and nthers. This Deed of Trust will nat secure any other debt if Beneficiary fails, with respect
<br />to such other debt, to make any required disclasure about this Deed of T'rust or if Beneficiary fails to give any required
<br />notice of the right of rescission.
<br />5. PAYMENI'S. Trustor agrees to make all payments on the Secured Qebt when due and in accordance with the terms nf
<br />the Evidence of Debt or this Deed of Trust.
<br />6. WARRANTY OF TITLE. Trustor covenants that Trustor is lawfully seizad of the estate conveyed by this Deed of Trust
<br />and has the right tn irrevocably grant, Convey and sell to 7rustee, in trust, with power of sale, the Property and
<br />warrants that the Property is unencumbered, except for encumbrances of record,
<br />7. CLAIMS AGAIN5T TITLE. 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 to provide to Beneficiary
<br />copies of all nntices that such amounts are due and the receipts evidencing Trustor's payment. Trustor will defend title
<br />-- to t�te Woper#y against any claims that would +mpair the lien af this Deed o€-Trust,- Trustor agrees to assign to
<br />Benefici8ry, as requested by Beneficiary, any rights, claims or defenses which Trustor may have against parties who
<br />supply labor or materials to improve or maintain the Property.
<br />$. PRI�R 5ECURITY INTERESTS. With regard tn any other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest ar encumbrance on the Property and that may have priority over this
<br />Deed of Trust, Trustor agrees:
<br />A. Ta make al! payments when due and to perform or 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 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. DUE ON SALE QR ENCUMBRANCE. Beneficiary may, at its option, declare the entire balance of the Secured 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 Praperty includes Trustor's residence, this section shall be subject ta the
<br />restrictions imposed by federal law (12 C,F.R, b91►, as applicable, For the purposes nf this section, the term
<br />"Property" also includes any interest to all ar any part of the Property. This covenant shall run with the Praperty and
<br />shall remain in effect until the Secured Debt is paid in full and this Deed nf Trust is released.
<br />70. 7RANSFER OF AN INTEREST IN THE GRANTOR. If Trustor is an entity other than a natural persan (such as a
<br />carporation 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 humber of inembers of a partnership; or (3) there is a
<br />Ipege 7 of 81
<br />�j- , C�J 1993, 2001 Bankers Systams, Inc„ 5t. Cloud, MN Form AGCO-RE5I-NE 1l17/2003
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