Laserfiche WebLink
� � r <br />201102503 <br />27. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail <br />to the appropriate party's address on page 1 of this Deed of Trust, or to any other address designated in writing. <br />Notice to one trustor will be deemed to be notice to all trustors. <br />28. U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Deed of Trust; <br />� Construction Loan. This Deed of Trust secures an obligation incurred for the construction of an improvement on <br />the Property. <br />� Fixture Filing. Trustor grants to Beneficiary a security interest in all goods that Trustor owns now or in the <br />future and that are or will become fixtures related to the Property. <br />O Crops; Timber; Minerals; Rents, Issues and Profits. Trustor grants to Beneficiary a security interest in all crops, <br />timber, and minerals located on the Property as well as all rents, issues, and profits of them including, but not <br />limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK) payments and similar <br />governmental programs (all of which shall also be included in the term "Property"1. <br />0 Personal Property. Trustor grants to Beneficiary a security interest in all personal property located on or <br />connected with the Property. This security interest includes all farm products, inventory, equipment, accounts, <br />documents, instruments, chattel paper, general intangibles, and all other items of personal property Trustor <br />owns now or in the future and that are used or useful in the construction, ownership, operation, management, <br />or r�aintenance of the Property, .The term "personal property" specifically excludes that property described as <br />"household` goods" secured in connection with a"consumer" loan as those term§ are defined in applicable <br />federal regulations governing unfair and deceptive credit practices. <br />❑ Filing As Financing Statement. Trustor agrees and acknowledges that this Deed of Trust also s�ffices as a <br />financing statement and as such, may be filed of record as a financing statement of purposes of Article 9 of the <br />Uniform commercial Code. A carbon, photographic, image or other reproduction of this Deed of Trust is <br />sufficient as a financing statement. <br />29. OTHER TERMS. If checked, the following are applicable to this Deed of Trust: <br />[�I Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may be <br />reduced to a zero balance, this Deed of Trust will remain in effect until releas�d,�,� <br />O Agricultural Property. Trustor covenants and warra `� t�,�t�the Pr�ppert�i'vf►111'�e used;principally for agricultural or <br />farming purposes and that Trustor is an individual r e�tiT�y ��IbW�d t� '��nr a.gricultural land as specified by law. <br />, �� <br />❑ Separate Assignment. The Trustor has executed e a sepa`�e assignr'nent of leases and rents. If <br />the separate assignment of leases and rents is properly executed and recorded, then the separate assignment <br />will supersede this Security Instrument's "Assignment of Leases and Rents" section. <br />� Additional Terms. <br />�page 7 of 81 <br />�°° � 1993, 2001 Bankere Systeme, Inc., St. Cloud, MN Form AGCO-RESI-NE 1/17/2003 <br />