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201100�54 3• MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this Deed of Trust at any one time shall not exceed $ 219,620.38 __. ____. This limitation of amount does not include interest, loan charges, commitment fees, brokerage commissions, attorneys' fees and other charges validly made pursuant ta this Deed of Trust and does not apply to advances (or interest accrued vn such advarices) made under the terms of this Deed of 7rust to proiect Beneficiary security and to perform any of the covenants contained in this Deed of Trust. Future advances are contemplated �nd, along with other future obligations, are secured by this �eed of Trust even though all or part may not yet be advanred. Nothing in this Deed of Trust, however, shall r,onstit�.ite a commitment ta make additional or future loans or advances in any amount. Any such cnmmitment wo��ld need to be agreed to in a separata writing. 4. SECURED DEBT DEFINED. The term "5ecured Debt" includes, but is not limited to, the following: A. The promissory note�s►, contract(s►, guaranty(ies) nr other evidence of debt descri6ed below and all extensions, renewals, modifications or substitutions (Evidence nf Dek�t�. (When �eferencrny the clebts below it rs suc�gested that you include items such as bdrrawers' narnes, note amounts, interest rates, maturity dates, etc.) PROMISSDRY NDTE IN TH� AMDUNT OF $219824.38 TO BARR NQNE, LLC AT 5.25% dUE 6•28•2020 B. All future advances from Beneficiary to Trustor or other fuCure obligatians of Trustor to Beneficiary under any promissory nnte, contract, guaranty, or other evidence of de6t existing now or exeruted after this Deed of Trust whether or not this Deed of Trust is specifically referred to in the evidence of deht. C. All obligations Trustor owes to Beneficiary, whir..h nnw exist or mdy later arise, to the extent not prohihited t�y law, including, but not limited to, liabilities fnr overdrafts relating to any deposit acco�.mt a�reement 6etween Trustor arid Beneficiary. U. All additional sums advanced and expenses iricurred by E3eneficiary fnr insuring, preserving or otherwise protecting the Property and its value and any other surns advanced and expenses inrurred by Benefici�ry urider the tenns of this Deed of Trust, plus interest at the highest r�te in effect, froi7� tir��e to time, as provided in the Fvidence nf' []ebt. E. Tn.istor's performance �mder the terms of �ny instrurrient evidenciny a debt by Trustnr t.n �3enefici�ry and any Ueed of Trust securing, guarantying, or otherwise relating to the debt. If more than one person signs this Deed of Trust as Trustnr, each Trustor agrees tf�at this Deed of Trust will secure all f�rture �dvances and future obligations described above that are given to or incurred by any one or more Trustor, or any one or more Tn.�stor and others. This beed ol l rust will not secure any other debt if BeneYici�ry f�ils, with respect tn such nther debt, tn make any required disclosure about this Ueed of Trust or if [3enefir,iary fails tn yive ariy required notice of the riyht of rescission. 5. PAYMENTS. Trustor agrees to make all payments on the 5er.ured f)eht wheri due and in arrordance with the terrtis of the [vidence of Debt or this Deed of Trust. 6. WARRANTY OF TITLE. Trustor covenants that Trustor is I�wfully seized of the estate conveyed by this Deed of Trust and has the right to irrevocably grant, convey and sell to Trustee, in trust, with pnwer of sale, the Property and warrants [hat the Property is unencumbered, exeept for encurn6rances of record. 7. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encurribrances, lease payments, ground rents, utilities, and other charqes relating to the Property when due. E3eneficiary may require f rustor to provide to Benefir,iary copies of all notices that such amounts are due and the receipts evidencinc� Trustnr's payrtient. Trustor will defend title to the Nroperiy ayainst any claims that would irnpair the lien of this Deed of Trust. Trustor ayrees to assign to Beneficiary, as requested by Beneficiary, any rights, claims or defenses which Trustor may have against parties who supply labor or materials to improve or maintain the Prnperty. 8. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust:, security agreement or other lien docurnent that created a prior security interest or encumbrance on the Property and that rY�ay have priority over this Deed of Trust, Trustor agrees: A. To make all payments when due and to perform nr cnmply with all coveriants. B. To prntr�ptly deliver in F3eneficiary any notices that Trustor receives from the holder. C. Not tn make or permit any modificatinn or extension af, arid not to request or accept any future advarices under any note or agr�ement secured by, the other mortgage, deed of trust or security ayreement unless Beneficiary consents in writing. 9. bU� ON SALE OR ENCUMBRANCE. Beneficiary may, at its opiion, declare the entire 6alance nf the Secured Debt to be immediately due and paya6le upon the creation of any lien, encumbrance, tr�nsfer, or sale, or contract for any of these on the Property. However, if the Property includes Trustor's residence, this sectiori shall t�e subject to the restrictions imposed by federal law (12 C.F.R. 591�, as applicahle. Fnr Ihe purposes of this s�ction, the terrri "Property" also includes any interest to all or any part of the Property. This coveriant shall run with the Property and shall remain in effer,t until the Secured Debt is paid in full and this Deed of Trust is released. 10. TRANSFER OF AN INTEREST IN THE GRANTOR. If Trustor is ara entity other than a n�tural persnn fsuch as a corporation or other organization�, Beneficiary may derYiand irnmediate payment if (1 � a benefirial interest in 1'rustor is :�old or transferred; (2) there is a change in either the identity or n��mher ot rtierrit�ers of a partnership; or (3) there is � � (Yage 2 of 8) / ��. ... �j�� OO 1993, "L001 Rankers Systems, Inr„ St, Cloud, MN Form AGCp-RE31-NE 1117/2003 .�� mm .