|
Login No 101286246
<br />20/304704
<br />DEED OF TRUST
<br />(Continued) Page 8
<br />participation.
<br />Application of Net Proceeds. It all or any part of the Property is condemned by eminent domain proceedings or by
<br />any proceeding or purchase in lieu of condemnation, Lender may at Its election require that all or any portion of the
<br />net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net
<br />proceeds of the award shell mean the award after payment of all reasonable costs, expenses, and attorneys' fees
<br />incurred by Trustee or Lender In connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating
<br />to governmental taxes, fees and charges are a pert of this Deed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents In addition to
<br />this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's Hen on
<br />the Real Property. Trustor shell reimburse Lender for all taxes, as described below, together with all expenses
<br />incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees,
<br />documentary stamps, and other charges for recording or registering this Deed of Trust.
<br />Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of
<br />Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax en
<br />Trustor which Trustor le authorized or required to deduct from payments on the Indebtedness secured by this type
<br />at Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note;
<br />and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal end interest made by
<br />Trustor.
<br />Subsequent Texas. If any tax to which this section applies le enacted subsequent to the date of this Deed of
<br />Trust, this event shall have the same effect as an Event of Default, and Lender may enroisa any or ail of its
<br />available remedies for an Event of Default es provided below unless Truster either (1) pays the tax before It
<br />becomes delinquent, or (2) contests the tax as provided above In the Taxes and Liens section and deposits with
<br />Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust se a
<br />security agreement are a part of this Peed of Trust;
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property
<br />constitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Cods
<br />as amended from time to time.
<br />Security Interest. Upon request by Lender, Trustor shall take whatever action Is requested by Lender to perfect
<br />and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Dead of
<br />Trust in the reel property records, Lender may, at eny time and without further authorization from Trustor, file
<br />executed counterparts, copies or reproductions of this Deed at Trust as a financing statement. Trustor shell
<br />reimburse Lender for all expenses Incurred in perfecting or oontinuing this security interest. Upon default, Trustor
<br />shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble
<br />any Personal Property not affixed to the Property In a manner and et e plane reasonably convenient to Trustor and
<br />Lender and make It available to Lender within three (3) days after receipt of written demand from Lender to the
<br />extent permitted by epplioable law.
<br />Addresses, The mailing addressee of Trustor (debtor) and Lender (secured party) from which information
<br />concerning the security interest granted by this Deed of Trust may be obtained (each as required by the Uniform
<br />Commercial Code) ers as •tat.d on the first page of this Deed of Trust,
<br />FURTHER ASSURANCES; ATTORNEY - -FACT. The following provisions relating to further assurances and
<br />attorney- intfaot ere a pert 01 this Deed of Trust:
<br />Further Assurances, At any time, and from time to time, upon request of Lender, Trustor will make, execute and
<br />deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, end when requested by
<br />Lender, cause to be filed, recorded, reified, or rerecorded, is the case may be, at such times and in such offices
<br />and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
<br />agreements, financing statements, continuation statements, instruments of further assurance, certificates, and
<br />other documents es may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete,
<br />perfect, continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />Documents, and (2) the Ilene and security interests created by this Deed of Trust as first and prior (lens on the
<br />Property, whether now owned or hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the
<br />contrary In writing, Trustor shall reimburse Lender for all costs and expenses Incurred in connection with the
<br />matters referred to In this paragraph.
<br />Attorney -In -Fact. If Trustor fails to do any of the things referred to In the preceding paragraph, Lander may do so
<br />for end in the name of Trustor and at Trustor's expense. For such purposes, Trustor hereby Irrevocably appoints
<br />Lender se Trustor's attorney -in -fact for the purpose of making, executing, delivering, filing, recording, and doing all
<br />other things es may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in
<br />the preceding paragraph.
<br />FULL PERFORMANCE. It Trustor pays all the Indebtedness, Including without limitation ell future advances, when due,
<br />
|