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201301627 15. SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fully integrated This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to he used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 16. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law. 17. NOTICE. Unless otherwise required by law. any notice shall be given by delivering it or by mailing it by first class nail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trustors. 'l'rustor and Beneficiary hereby request a copy of any notice of default, and a copy of any notice of sale there under, he mailed to each party at the address for such party set forth on page 1 of this Deed of Trust. IS. WAIVERS. Except to the extent prohibited by law, Trustor waives all appraisement and homestead exemption rights relating to the Property. 19. LINE OF CREDIT. The Secured Debt includes a revolving line of credit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 20. APPLICABLE LAW. This Security Instrument will be governed by applicable federal law and the law of the state of Texas without regard to its rules regarding the conflicts of laws, except for matters regarding the perfection and enforcement of the lien on real property, which will he governed by the law of the state where the Property is located. 21. RIDERS. The covenants and agreements of each of the riders described below are incorporated into and supplement and amend the terms of this Security Instrument: 22. L CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation incurred for the construction of an improvement on the Property. 23. ❑ ADDITIONAL TERMS. _ _ (page 7 of 9) S 1994 Wolters Kluwer financial Services-Bent e,s S?stoms'"' Form US 4AHEOT-NE 61252012