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201104�92
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount of the Secured Debt (hereafter defined) secured by this
<br />Deed of Trust at any one time shall not exceed 8 35,200.00 . This limitation of amount
<br />does not include interest, loan aharges, 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 protect Beneficiary security end to perform any of the covenants
<br />cantained 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 />howeyer, shafL constitute .a commitment to make additional or future loens or advances in any amaunt. Any such
<br />commiiment would need to be agreed to in a separate writing.
<br />4. SECURED DEBT DEFINED. The term "Secured Debt" includes, but is nat limited to, the following:
<br />A. The promissory noteis�, contracttsl, guaranty(ies) or other evidence of debt described below and all extensions,
<br />renewals, modifications or substitutions {Evidence of Debt). fWhen referencing the debrs be%w it is suggested
<br />that you include items such as boriowers' names, nate amounrs, interest rates, meturity dates, etc.)
<br />BOD LOARI #6598 ANQ ANY EXTENSIONS. MDDIFlCATIONS OR RENEWAIS THEREOF
<br />8. All future advances from Beneficiary to Trustor or other future obligetions of Trustor to Beneficiary under any
<br />promissory note, contract, guaranty, or other avidenc� of �lebt existing now or executed after this Daed of Trust
<br />whether or not this Deed of Trust is specifically referred to in the evidence of debt.
<br />C. All obligetions Trustor owes to Beneficiary, which now exist or may la#er arise, to the extent not prohibited by
<br />law, including, but not limhed 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 or 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 of Trust, plus interest at the highest rate in effect, from time to time, as provided in the
<br />Evidence of Debt.
<br />E. Trustor's performance under the terms of any instrument evidencing a debt by Trustor to Beneficisry and any
<br />Deed of Trust securing, guarantying, or otharwise 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 seaure all
<br />future advances end future obligations described above that are given to or incurred by any one or more Trustor, or
<br />any one or more Trustor and others, This Deed of Trust will not secure any other debt if Beneficiary fails, with respect
<br />to such other debt, to make any required disclosure about this Deed af Trust ar if Benefiaiary fails to give any required
<br />notice of the right of rescission.
<br />5. PAYMENTS. Trustor egrees to make al! payments on the Secured Debt when due and in accordance with the terms of
<br />the Evidence of Debt or this Deed of Trust.
<br />6. WARRANTY OF TITLE. Trustor covenants that Truslor is lawfully seized of the estate conveyed by this Deed of Trust
<br />end 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 encumbrences of record.
<br />7. CLAIMS AGAINST 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 mey 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, clsims or defertses which Trustor may have against parties who
<br />supply labor or materials to improve or maintam the Property.
<br />8. PRIOR SECURlTY INTERESTS. With regard io any other mongage, deed of trust, security agreement or other lien
<br />document that created a prior security interest or encumbrance on the Property and that may have priority over this
<br />Deed of Trust, Trustor agrees:
<br />A. To make all payments when due and to pertorm 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 OR ENCUMBRANCE. Beneticiary mey, 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 Property includes Trustor's residence, this section shall be subject to the
<br />restrictions imposed by federal law i12 C.F.R. b911, as applicable. For the purposes of this section, the term
<br />"Property" also includes any interest to all or any part of the Property. This covenant sha(t run with the Property and
<br />sF�all remein in effect unti! the Secured Debt is paid in fult and this Deed of Trust is released.
<br />10. TRANSFER OF AN INTERES7 IN THE GRAIYTOR. if 7rustor is en entity other than a natural person (such as a
<br />corporation or other organization), Beneficiary may d�mand immediate payment if (1} a beneficial interest in Trustor is
<br />sold or transferred; (21 there is a change in either the identity or number of inembers of a partnership; or {3) there is a
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<br />� m 1893, 2001 Bankers Systems, Inc.. St Cla�d. MN Form AGCO-RESI-NE 1117/2003
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