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� 99 109685 �
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<br /> 11. �LENDER"S RIGHT TO COUAMENCE OR DEFEND LEGAL ACTIONS. Grantor shall irrrnediatelyprrnride Lender with wriuen notice of any aetual or i
<br /> th�er�ed�tlon,suft,or other procee�ng affecting the Property. Grantor hereby a�oints Lender as its attomey-in-fact to comrnence,irAervene in,and 1
<br /> �f���S,��g,a other legal pro�ed�ngs and to compromise or settle any daim or corrtroversy perlaining thereto. Lender ehall not be liable to ,
<br /> G►�tor}or any action,error,mistake,omission or delay pertaining to the actions described in this paragraph or arry damages rewidng tF�efrom. Nolhin9 �
<br /> �tained herei�wip prevent Lender trom taking the actions desaibed in this paragraph in fls own name.
<br /> 12 WDEIIANIFICATION. Lender shall not assume or be responsible for the perfom�ance of any of Grantor's obligations wfth respect to the Property under �
<br /> any dreumstances. Grantor shell irmiec�ately provide Lender wtlh w�itten notice of and indemnify and hoid Lender and its sharehoklsrs,dire�ton.olflan.
<br /> employees and agents harmless from all daims,darr�ges, Ilabilriies(including attomeys'fees and legal expenses),causes of ac�ion,actior�s,wits and
<br /> ott�legel proceedngs(cumulalNey"Clafms")pertaining to the Properry(induding,but not Umited to,those irnolving Hazardoua Materials). Grantor,upa► �
<br /> q�e roquest of Lender,ahall tdre legal counsel to defend Lender from such Gaims,and pay the attomeys'teea,legal expenaea and other costs Inan►ed in
<br /> �axieqbn therewfth. In the altemative. Lender shall be errtitled to employ its own legal counsel to defend such Claims at C3rantor's aoat. Oranta's
<br /> obNpatbn to kxlemnity Lender under this paragraph shall survive the termination,release or foredosure of this Deed of Trust.
<br /> 13. TAXE8 AND ASSESSMENTS. GraMor shall pay all taxes and assessmerrts relating to Property when due and irm�ediately provide Le�der evidsnoe
<br /> a p�yR�r�t of aa�, Upon the request of Lender.Grantor shall deposit with Lender each mornh one-twelfth (1/12) of ihe estimsted annual inau�ance
<br /> premium,texes and asseasrr�ents pertaining to the Property. So bng as there is no default,these art�ourrts shall be applied to the pa my ent of texas,
<br /> aasessmertta and insuranoe as required on the Properry. In the event of defauft,Lender shall have the right,at its sde optfon,to apply the tunda w heid to
<br /> pay any taxes or apainst the Obligations. My tunds applied may,at Lender's option,be applied in reverse order of the due date thereof.
<br /> 14, INgpECT10N OF PROPERTY,BOOKS,RECORDS AND REPORTS. Grantor shall allow Lender or its ageMs to exaMne and i� nspect the PropeAy
<br /> and ex�ni�e,inspeq and rneke copies of Gramor's books and records pertaining to the Property from time to time. Grantor ahall ovide any asatatanee
<br /> requked by Lende►fa these purposes. All of the signatures and information cornained in Grantor's books and records shall be genuine,true,axurate and
<br /> oomplete in all reapects. Grantw shall note the existence of Lender's beneflcial irrterest in its books and recads pertaining to the Property. AdditioneUy,
<br /> Grantor ahap repoA,in a form satisfactory to Lender,such informatfon as Lender may request regar�ing GraMor's financial condition or the Proparty. The
<br /> infontiation sheq be for such Periods•shal�reflect Grarrior's records at suc��time,and shall be rendered with such trequency as Lender may designele• All
<br /> Intortnatiwi Iumiahed by Grantor to Lender shall be tnie,axurate and complete in all respects,and signed by Grarnor if Lender requests.
<br /> 16. ESTOPPEL CER7IFlCATES. Wilhin ten(10)days after any request by Lender,Gramor shall deliver to Lender,or any irrtended transferee of Le�dera
<br /> rigMs wilh respe�t to the Oblfgations,a signed and admowledged statemern specifyin9(a)the outstan�ng ba�ance on the Ot�ligetions:and(b)wt�slher
<br /> (��ta posseases arhr daims,defenses,set-offs or cournerdaims whh respect to the Obligations and,if so,the nature of such dafma,defenaes,aW-olh ar
<br /> couMerdakns. Grantor will be condusNely bound by any represerrtation that Lender may rt�eke to the imended transferee wfth resped to thsae metlers in
<br /> the event that G►antor fails to provide the requested statemerd in a timely manner.
<br /> 1d. DEFAULT. (3raMMor shall be in defaufl under this Deed of Trust and the Trustee's power shall become operative in the event that(3ramor,Borrower or
<br /> any guerantor of the Obligationa:
<br /> (a► faGs to pey any Obligatlon to Lender when due;
<br /> (b) faila to perfom�any Obligation or breaches ar►Y Warran�Y a covenant to Lender cornained in this Deed of Tn�st or arry other present or tWure
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<br /> (c) destroya,bses or darr�ages the Property in any material respect or subjects the Property to seizure,conflscation,or condertnaUon;
<br /> (d) seeka to revoke,tem�inate or otherwise Ifmit ils liability under any guaranty to Lender;
<br /> (e) dfes,becwr�es Iegaily(ncompeterrt,is dissolved or terminated,becomes insoiverd,makes an assig�merrt for the benefll of cre�tors,faila to pay
<br /> de6rts as they become due,flles a petiUon under the federal bankruptcy Iaws,has an irnoluntary petition in bankruptcy filed in which Grantor,BoRawer
<br /> a any guararnor Is�amed,or has property taken under any writ or process of court;
<br /> (� albwa goods to be used,transported or stored on the Property,the possession,transportation,or use of whlch,is illegal;
<br /> (g) aqows arry perty other than Grarrtor or Borrower to assume or undertake any Obligation without the writlen�nsern of Lender,a
<br /> (that the�proaped of ipa�m�ern or perfortr�ence is itmpaire�d i���ine in the value of the Property;or if Lsnder,in good fafth,for any reason,believes
<br /> 17. RIGHTS OF LENDEFi ON DEFAULT. If there is a defauft under this Deed of Trust,Lender shail be errtitled to exerofae one or mo►e of ths fdbwing
<br /> remediea without notk;e or demand(except as required by Iaw):
<br /> (a) to dedare the Ob�gations imnediately due and payable in full;
<br /> (b) to copect ihe outatanding Obligatbns with or without resorting to judicial process;
<br /> (c) to require C3raMor to deliver and make availat�e to Lender any personal properry or Chattels constitutinp the Property at a place roasonably
<br /> oorn�erient to Ci�anta and Lender:
<br /> (� to errter upon and take possession of the Property without applying for or obtaining the appointment of a recefver and, at lender'a optlon,to
<br /> appoirrt a reosiver wilhout bond, without fl�st bringing suit on the Obligations and without otherwise meeQng any statutory condtlons regerding
<br /> reoeNera,fl being h�terMed that Lender shall have this eontractual�igM to appant a receiver,
<br /> (e) to employ a menaging agent of the Property and let the same,efther in Trustee's own name,in the name of Lender or in the name of Grarrtor,and
<br /> reoeive the rents,h�comea,issues and profits of the Properry and apply the sarne,afier paymerrt of all necessary charges and expenaes,on accourrt of
<br /> the Oblfgetions;
<br /> (� to pey any surns M arry fom�or manner deemed expediem by Lender to protect the security of this Deed of Tn�st or to cure arry default other than
<br /> paymetrt of hiterest or principal on the Obligations;
<br /> (g) to foredose this Deed of Trust ju�dally or nonjudidally and to direct the sale of the propeny through exerdse of the power of sale as referenoed in
<br /> peragraph 20 hereof in acawrdance wlth applicable law;
<br /> (h) to set-oif Cirantor's Obligatio�s against any amounts owed Grantw by Lender induding, but not limited to, monies, instruments, and depoail
<br /> a000uMs meirrtained with Lender or any currerttly existing or future affiliate of Lender;and
<br /> (f)b exerciae aq other rights available to Lender under any other wririen agreemerri or applicable law.
<br /> Lender'a ri�ta e►e cumulattve and may be exerdsed together, separately, and in any order. In the evern that Lender inatitutes en adbn aeeWng the
<br /> reoovery oT any of the Property by way of a prejudgment remedy in an action against Grantor, Grantor waives the posting of any bond which
<br /> otheryvlae be required. lender or Le�der's designee may purchase ihe Property at any sale. Proceeds of any Trustee's se�e hereunder aheN bo
<br /> first,to the oosts and expenses of exerdsing the power of sale and of the sele,induding the paymarrt of the Trustee's fees aduaUy incurred and not to
<br /> exceed the amourd whkh may be provfded for in this Deed of Trust,second,to paymerri of the Obligatfons secured hereby,third,to the peyment of junior
<br /> t�ust deeds,mortgages,or othet lienholders,and the balance,if any,to the person or persons legally eMitled ihereto. The propeAy or any parl thereof rrey
<br /> be sold fn orre parcsl,or in such percels,manner or order as Lender in its sole discretion may elect,and one or more exerciaes oi the power herein graMed
<br /> shap not extinguish or exhaust the power unless the errtire property is sold or the obligations are paid in fulL
<br /> 18. TRUSTEE'S EXERCI8E OF POWER OF SALE ON DEFAULT: If Lender e�ects to sell Grarnor's iMerest in the Property by exerd:e of ttw power of
<br /> sale herein contakied,Lender shall notiy Trustee in the manner then rec�uired by law.
<br /> Upon receipt of such notice of Lender and at the�rection of Lender,T►ustee shalt cause to be recorded,published and delivered auch notices of default
<br /> and notioes of sale as may then be required by law and by ihis Deed of Trust. Trustee shall,only at ihe direction of Lender end without demend on GraMor,
<br /> ailer auch tfine as may then be required by law and after recordatbn of such notice of default and atter notice of sale having been given as requirod by lew.
<br /> sell the p�ope�1y at ihe time and place of sale Hxed by it in such notice of sale,either as whole or in separate lots or parcels or items as Lender shaaN desm
<br /> expeden,and In such order as it mey determine,at public auction to the highest bidder for cash in lawful money of the United Statea peyable at ihe time of
<br /> sa ,ie a tas ctherwise may then be required by law. Tn�stee shall deliver to such purchaser or purchasers thereof Ns good and suf�Cfent deed or daed:
<br /> �ying ihe property so sold, but without any covenarn or warranry, express or i m p l i e d. Th e r e c l t a ls in such deed of a r ry matters or fads ahaU be
<br /> conckiaNe proof of the Mithfulnesa lF�ereof. Any person,induding,without Iimitation,Gra�tor,Trustee or Lender,may purchase at such salo. Trustee may
<br /> i�the menner provided by Iaw postpone sale of all or any portion of the Property.
<br /> 19. REOUEST FOR NOTICES: Grantor requests that a copy of any notice of defauN and a copy of any notice of sale hereunder be mailed to�ch peraon
<br /> who is a perty hereto at the address of such person set forth herefn at the same time and in the same manner required as though a aeperate�equest thereof
<br /> had been flled by each such petson.
<br /> ucmm a.��� Pap�9d8
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