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201906785 obligations, of Grantor and including any further loans and advancements made by Lender to Grantor. The fact of repayment of all indebtedness, and performance of all other obligations, of Grantor to Lender shall not terminate the lien arising hereunder unless the same be released by Lender at the request of Grantor; but otherwise it shall remain in full force and effect to secure all future advances, indebtedness and other obligations, regardless of any additional security that may be taken as to any past or future indebtedness or other obligations. (d) Any and all renewals, extensions, replacements, rearrangements, substitutions, or modifications of the Indebtedness, or any part of the Indebtedness. 2.2 PAYMENT OF PRINCIPAL AND INTEREST. Grantor shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, any prepayment and late charges provided in the Note, and all other sums secured by this Instrument. 2.3 APPLICATION OF PAYMENTS. Unless applicable law provides otherwise, all payments received by Lender from Grantor under the Note or this Instrument shall be applied by Lender in the following order of priority: (a) amounts payable to Lender by Grantor under this Instrument; (b) sums payable to Lender under the Note, to be applied to principal or interest as Lender may determine in its sole and absolute discretion; and (c) any other sums secured by this Instrument in such order as Lender, at Lender's option, may determine. 2.4 GUARANTOR. The term "Guarantor" shall include any person, company or entity now or hereafter obligated to pay or guaranteeing collection or payment of all or any portion of the Indebtedness, directly or indirectly, including without limitation, Randall Lyne and Randall C. Lyne 5x5 Trust. ARTICLE III SECURITY AGREEMENT 3.1 UNIFORM COMMERCIAL CODE SECURITY AGREEMENT. This Instrument is also intended to be a security agreement between Grantor, as debtor, and Lender, as secured party, pursuant to the Uniform Commercial Code as enacted in the State of Texas (the "Texas UCC") for the Personal Property and any of the other items specified above as part of the Property which, under applicable law, may be subject to a security interest pursuant to the Texas UCC or other applicable law. Trustee and Lender shall have, in addition to all rights and remedies provided herein, all the rights and remedies of a "secured party" under the UCC and other applicable Texas law. BORROWER covenants and agrees that this Deed of Trust constitutes a fixture filing under Sections 9.334, 9.501 and 9.502 of the Texas UCC. 3.2 GRANT OF SECURITY INTEREST. For valuable consideration, and in order to secure the payment and the performance of the Indebtedness and the obligations of Grantor under the Loan Documents, Grantor hereby assigns and transfers to Lender and grants to Lender a security interest in and lien upon the following described collateral now owned by or hereafter acquired by Grantor (the "Collateral") the Personal Property (as defined in Section 1.02 above) and any and all other items of the Property and the rights appurtenant thereto which may be subject to a security interest under the Texas UCC or other applicable law. Grantor expressly agrees that the security interest and liens granted by this Instrument shall extend to and encumber any after-acquired Collateral; provided, however, the security interest shall attach to after-acquired consumer goods only to the extent permitted by the Texas UCC. 3.3 FINANCING STATEMENTS. Grantor agrees that Lender may file this Instrument, or a reproduction thereof, in the real estate records or other appropriate index, as a financing statement for any of the items specified above as part of the Property. Any reproduction of this Instrument or of any other 2932707_3 8