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20110311�
<br />3. MAXIMUM OBLIGATION LIMIT. The total principa,
<br />amount of the Secured Debt
<br />Deed of Trust at any one time shall not exceed 5 70 000.00
<br />does not include interest, loan charges, commitme t fees, brokerage commissions,
<br />validly made pursuant to this Deed of Trust and d es not apply to advances (or i
<br />made under the terms of this Deed of Trust to rotect Beneficiary security and
<br />contained in this Deed of Trust. Future advance are contemplated and, along
<br />secured by this Deed of Trust even though all o part may not yet be advance
<br />however, shall constitute a commitment to make additional or future loans or a�
<br />commitment would need to be agreed to in a separa e writing.
<br />4. SECURED DEBT DEFINED. The term "Secured Debt' includes, but is not limited to,
<br />A. The promissory notels►, contractlsl, guaran (ies) or other evidence of debt �
<br />renewals, modifications or substitutions (Evi ence of Debt). (When referenci
<br />that you include items such as borrowers' na es, note amounis, interest rate,
<br />Sheila R. Hulme as borrower in the amount of S70,OOU. N
<br />B.
<br />C.
<br />D.
<br />E.
<br />All future advances from Beneficiary fio Tru:
<br />promissory note, contract, guaranty, or other
<br />whether or not this Deed of Trust is specifica
<br />All obligations Trustor owes to Beneficiary, �
<br />law, including, but not limited to, liabilities �
<br />Trustor and Beneficiary.
<br />All additional sums advanced and expensE
<br />protecting the Property and its value and an�
<br />the terms of this Deed of Trust, plus interesl
<br />Evidence of Debt.
<br />Trustor's performance under the terms of ar
<br />Deed of Trust securing, guarantying, or other�
<br />date of 5-Ot-2018.
<br />r or other future obligatron� �
<br />�idence of debt existing now �
<br />referred to in the evidence of
<br />ich now exist or may later ai
<br />overdrafts relating to any d�
<br />s incurred by Beneficiary for
<br />other sums advanced and exp
<br />at the highest rate in effect, fi
<br />instrument evidencing a debt
<br />�e relating to the debt.
<br />�eafter defined) secured by this
<br />. This limitation of amount
<br />torneys'fees and other charges
<br />est accrued on such advances)
<br />perForm any of the covenants
<br />:h other future obligations, are
<br />Nothing in this Deed of Trust,
<br />�ces in any amount. Any such
<br />following:
<br />cribed below and all extensions,
<br />the debts be%w it is suggested
<br />�aturity dates, eic.1
<br />to Benefioiary" under any
<br />i after this Deed of Trust
<br />to the extent not prohibited by
<br />it account agreement between
<br />uring, preserving or otherwise
<br />:s incurred by Beneficiary under
<br />time to time, as provided in the
<br />Trustor to Beneficiary and any
<br />If more than one person signs this Deed of Trust as Trustor, each Trustor agrees tha this Deed of Trust will secure all
<br />future advances and future obligations described a ove that are given to or incurre by any one or more Trustor, or
<br />any one or more Trustor and others. This Deed of T ust will not secure any other de t if Beneficiary fails, with respect
<br />to such other debt, to make any required disclosure about this Deed of Trust or if Be eficiary fails to give any required
<br />notice of the right of rescission.
<br />5. PAYMENTS. Trustor agrees to make all payments n the Secured Debt when due an in accordance with the terms of
<br />the Evidence of Debt or this Deed of Trust.
<br />6. WARRANTY OF TITLE. Trustor covenants that Tru�tor is lawfully seized of the esta�� conveyed by this Deed of Trust
<br />and has the right to irrevocably grant, convey ankl sell to Trustee, in trust, with power of sale, the Property and
<br />warrants that the Property is unencumbered, except�for encumbrances of record.
<br />7. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbranc s, lease payments, ground rents,
<br />utilities, and other charges relating to the Property hen due. Beneficiary may requir 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 i pair the lien of this Deed of T st. Trustor agrees to assign to
<br />Beneficiary, as requested by Beneficiary, any righi , claims or defenses which Trus r may have against parti�es who
<br />supply labor or materials to improve or maintain the roperty.
<br />S. PRIOR SECURITY INTERESTS. With regard to an other mortgage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or ncumbrance on the Property an that may have priority over this
<br />Deed of Trust, Trustor agrees:
<br />A. To make all payments when due and to perfo m or comply with all covenants.
<br />B. To promptly deliver to Beneficiary any notice that Trustor receives from the h der.
<br />C. Not to make or permit any modification or ex ension of, and not to request or ccept any future advances under
<br />any note or agreement secured by, the othe mortgage, deed of trust or sec ity agreement unless Benefaciary
<br />consents in writing.
<br />9. DUE ON SALE OR ENCUMBRANCE. Beneficiary m y, at its option, declare the enti balance of the Secured Debt to
<br />be immediately due and payable upon the creation of any lien, encumbrance, transf r, or sale, or contract for any of
<br />these on the Property. However, if the Property ncludes Trustor's residence, thi section shall be subject to the
<br />restrictions imposed by federal law (12 C.F.R. 911, as applicable. For the pu oses of this section, the term
<br />"Property" also includes any interest to all or any art of the Property. This cqvena t shall run with the Properry and
<br />shall remain in effect until the Secured Debt is paid n full and this Deed of Trust is re ased.
<br />10. TRANSFER OF AN INTEREST IN THE GRANTOR If Trustor is an entity other t an a natural person (such as a
<br />corporation or other organizationl, Beneficiary may emand immediate payment if (1 a beneficial interest in Trustor is
<br />sold or transferred; (2) there is a change in either t e identity or number of inember of a partnership; or (3) there is a
<br />� � fpage 2 of 81
<br />�"" OO 1993, 2001 Bankars Systems, lnc., St. Cloud, MN Form A CO-RESI-NE 1/77/2003
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