|
200411001 DEED OF TRUST
<br />Loan No: 101204510
<br />(Continued) Page 4
<br />nominal party, in such proceeding, but Lender shall be entitled to h nisi,s a is the proceeding and to be represented in the proceeding
<br />by counsel of Lender's own choice, and Trustor will deliver, or cause to be delivered to Lender such instruments as Lentler may
<br />request from lima to time to permit such participation.
<br />Compliance With Laws. Truster warrants that the Property and Trust.,'. use of the Property complies with all existing applicable
<br />laws, ordinances, and regulations of governmental authorities. .
<br />Survival of Representation, and Warranties. All representation warranties, and agreements made by Treanor in this Deed of Trust
<br />shall survive the execution and delivery of this Deed of Trust shall be continuing in nature, and shall remain In full force . and effect
<br />until such time as Borrower's Indebtedness shall be paid in full.
<br />EXISTING INDEBTEDNESS. The fallowing provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lion of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lien. oTr ,der
<br />expressly covenants and agrees to pay, or see to the payment of, the Existing Indebtedness and to prevent any
<br />Indebtedness, any default under The instruments evidencing such indebtedness, or any default under any security documents far such
<br />Indebtetlness.
<br />No Modification. Trustar shall not enter into any agreement with the bolder of any mortgage, daextenderd treat, or other security
<br />agreement which he. priority over this Deed of Trust by which that agreement is modified emended, ewe without
<br />the prior written consent of Lender. Truster shall neither request nor accept any future advances under any such security agreement
<br />without the prior written ..meant of Lander. -
<br />CONDEMNATION. The following provisions relating to condemnation proceedings are a part at this Deed of Trust:
<br />Proceeding.. It any proceeding in condemnation is filed, Treater shall promptly notify Lender in writing, and Tmstor shell promptly
<br />take such steps as may be necessary to defend the action and obtain the award. Treanor may be the nominal party in such
<br />proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own
<br />choice, and Truster will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by
<br />Lender from time to time to permit such panicipation.
<br />Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
<br />purchase in lieu of condemnation, Lander may at its election require that all or any portion of the net proceeds of the award be applied
<br />to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of
<br />all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation.
<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL :AUTHORITIES.- The fallowing programme relating to governmental
<br />taxes, fees and charges are a part of this Dead of Trust:
<br />Currant Texas, - Fees and Charges. Upon request by Lender, Truster shall execute such documents in addition m this Dead of Treat
<br />and take whatever other action is requested by Lander to perfect and. continue Lender's lien on the Real Property., Truster shall
<br />reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed
<br />of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute lease to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon
<br />all or any part of the Indebtedness secured by this Dead of Trust; (2) a specific tax on Borrower which Borrower is authorized or
<br />-ruled to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust
<br />chargeable against the Lander or the M1older of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on
<br />payments of principal and interest made by Borrower.
<br />Subsequent Texas. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall
<br />have the s affect as an Event of Default and Lender may exercise any or all of its available remedies for an Event of Default as
<br />provided below unless Tester either (1) Pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the
<br />Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lander.
<br />SECURITY AGREEMENT; FINANCING 3TATBM.ENi The fallowing Prov:slane (!rating :c trier Decd of Trust as n security agreement are a
<br />part of :bis Deed of Truali
<br />Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and
<br />Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time.
<br />Security Interest. Upon request by Lender, Truster shall take whatever action is requested by Lender to perfect and continue Lender's
<br />security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender
<br />may, at any time and without further authorization from Turner, file executed counterparts, copies or reproductions of this Dead of
<br />Trust as a financing statement. Truator shall reimburse Lender for all expenses incurred in perfecting or continuing this security
<br />interest. Upon default, Truster shall not remove, sayer or detach the Personal Property from the Property. Upon default, Tender shall
<br />assemhle any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Truster and Lander
<br />and make it available to Lender within throe (3) days after receipt of written demand from Lender to the extent permitted by applicable
<br />law.
<br />Addressee. The mailing add .... as of Trustor Idebtor) and Lender featured party) from which information concerning the security
<br />Internet granted by this Dead of Trust may be obtained leach as required by the Uniform Commercial Code) are as stated on the first
<br />page of this Deed of Trust.
<br />FURTHER ASSURANCES; ATTORNEY -IN -FACT. The following provisions relating to further assurances and atrorneNindact are apart of
<br />this Dead of Treat: —
<br />Further Assurances. At any time, and from time to time, upon request of Lentler. Tractor will make, execute and deliver, or will cause
<br />to be read" executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded,
<br />
|