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<br /> 9�-,�,��a ���� �� ����� . ��4 ��.�f��� �a�a� �. --
<br /> L�an �!o �07ti5 (Contlnued) ' ' -
<br /> coinsurunco alauso,end wllh a stanAard mo�tgagoe clausc►In favor of Lendor. Grnntor si�n�l also procure and melntaln comprohonslvo panernl � I
<br /> Ilnbuity Insuranco In suCh Coverage amounts as Londer mpy request wllh trustee nnd Londor bofnp nnm3d es addHlonal Insurods in euch Ilnbl,ty ���,`
<br /> Insurnnco potiClos. Additionaliy, Ornntor shnll mnlntain such othpr Insurnnc�,Including but rtof Iimliad to hnzerd,businoss Intarruptton, and
<br /> holler insurenco,es Lendar may reasonabiy requlre. Pol�les shs�1 be wrliten In lorm,amounts,coverupos nnd basis ressonnbly nccopfabla to ��'�
<br /> Lender and issuad by e company or companles reasonebiy acceptable to Londer. Trustor,upon reqttsst af Lertdor,will deliver to Lc�nder ham i• "
<br /> Hme to time the poiicloe or certlficetes of Insuranco In torm sadsiactory to lendor,Indudinp stlpuiptlons that covoraptts witl npl�o cnncoilod or 3 �
<br /> diminished without rst least fen(10)days'pdor wrifl9n noUce to Lender. EaCh Insursnce poticy al;o shau inctudo an ondorsemant provfding lha7 --
<br /> i coverage In favor of Lendor will not be Impalred In any way by any act,omisston or detaull o!Orantor or eny olher peraon. Should the Rcal
<br /> Property at uny timo become locnted In an nrea designated by the Dlroctor of the Fedoral Emorgency Manapement Aponcy�s e speclal Hood '�c
<br /> h4�ard erea, Trustor ugraes to obtaln and mfllnteln Fedorai Flood Insurence to the extent such Insuronce Is roqulrsd by Lendor and I�or
<br /> becomes nvallable, for fhe term of the loan and lor the t�dl unpafd princlpal belance of the loan,or ihe mnximum Iimil of Coverage that Is �
<br /> � flVBlable,whtChevor Is Isss.
<br /> Rppllcdtlon ot proceeda. Trustor shau promptly n�Hty Lender ot any loss or damage to the Property It the ostimatod Cost of repalr ar � _
<br /> replecemenl exce�ds S7,000.00. Lender muy make proof ot loss ft Trustor lails to do so vritNn 5ftesn(16)days o}the casualty. Whether or not �'� .i�. __
<br /> Lender's secudry is Impalred,Lendsr may,at Its electlon,recelve and retsin Ihe proceeds of any Insurnnce and appiy the proceods to Ihe �
<br /> reductiori of the Indebtedness,payment o1 any Ilen eNecting the Propsrly,or tho restoraHon and repalr ol the Property. If Lender elects to appiy `
<br /> tha proceeds to restoratlon and repalr,Trustor shall repalr or roplace the damaged or destroyed Improvements in e manner seti,factory to
<br /> Lender. Lender shall,upon satisfactory proof of such expenditure,pay or relmburse Trustor hom tho proceads for the rensonable cost of repalr
<br /> � or rastoration if Trustur Is not in defauit undor thls Deed of Trus:. Any proceeds which have not 6een dlsbursed wilhln 180 day9 attor thatr
<br /> recelp4 nnd wh�h Lender has not commllled to tho repalr or restorntlon of the PropeAy shall be used flrst to pay eny amount owing to Lande� •�-• 10
<br /> under this Deed ot Trust,lhen to pay ticcrued Interest,and the romninder,It any,shall be applied to Ihe princ�pul balance of the Indebladness. � .
<br /> It Lender holds eny proceeds after payment In tull ot the Indebtedness,such p�acoeds shall be peld to Trustor as Trustor's Interests may . ':�
<br /> appear. „ ,
<br /> U�expi�ed Insurence et Sale. P,ny unexpired Insurance shall Inure to the benelit of,end pess to,tha purohflser of the Properly couered by Ihls
<br /> Deed o4 Trust at nny frustee's ssle or other sale held under the provislons of this Deed of Trust,or at c�ny(�reclosure sflle of;:uch Property. •- •-
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<br /> Trunor's Report on Insurance. Upon request of Lender,howevsr not mora than once a year,Trustor shall furnlsh to Lender a report on eflch ;,-
<br /> exis6ng pWicy ot insurance showing: (a)ihe nar�ia of iha Insursr, (b)tha rtst:s Insurcd; (c)tha amount a!tha po!lay; (d)ths proprrty Insured, • •-�.
<br /> the then current ropiacemont vaiue of such property,and Ihe manner ol determlNng thet value;and (4)the explration dete of the policy. �_
<br /> Truslor shall,upon request of Lender,have an Independent appralser saUsfactory to Lender determine lhe cash value replacement Cost of Ihe � :__
<br /> Property.
<br /> E7tPEN�ITURES BY LENOER. It Trustor fails to comply with any provislon ot this Deed of Trust,or ft any action or procoeding is commenced that ;',.''� 4
<br /> would materiully aNect Lenders interests in the Property, Londer on Trustors bohalt may,but shall not ba requlred to,teke any sCtion that LendOr `t��-
<br /> doems&DProprlate.Any amount that Lender expends in so doing will bear Interest at the rate ch8rged under the Note hom the d8te Incurred or ptld ''� • -�
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<br /> by Lender to the date of repayment by Trustor. All such expenses,nt Lender's optlon,will (a)be payable on demand, (b)bo added to lhe batance
<br /> of the Nole and be apportloned among and be payable wtth any instellment payments to become due during oither (f)the term of any appllcebto •.�
<br /> �__...'_-'....u....... �u�a�...«......�.a....�........t��...1.1..1.. n. /w\1...frnelnrl eo o tiannnn�gvm�r�1 whir_.h will ha duw and DeVHbl9 91(hB NOl9'fl(IIflfI1�iN. � __-•+r�._. _.._
<br /> uwu�ma.o Mv�ti�v� ����w�o�ou.a�..�..y.w...........�.v...�... �..�..........�,..........«....... . .
<br /> This Deed oi Trust alSO will SeCUre payment of these amounts. The dghts provided for In this paragraph shap ba In addition to any other Rghb or Yny c*. ' .'�-�
<br /> remedies to whlch Lender may be entitled on account of the defnult. Any such flctfon by Lender shall not be construed as curin�the defautt so as to �►
<br /> bar Lender irom any remedy that it otherwise would have had. �`S ,.
<br /> WARRANTY;DE�ENSE OF TI7L.E. The tollowing prowsions rel8ting to ownership of the Properly are a part of thls Deed of Trust.
<br /> Tltio. Trustor warr�nts thar (a)Trustor holds good and marketable titte of record to the Property In tee slmple,free and ciear ot ell Ilans end '���
<br /> encumbrencea other than those set torth In the Real PropeAy description or in sny title Insurnnce policy,tiHs report,or finel tiUe opinlon issuod In ,,.%�;,,
<br /> fava o},and accopted by,Lender in connection with this Deed oF Trust,and (b)Trustor has the fuli�ight,power,end authority to execute end f�•�"•j` �
<br /> delrier thls Oeed of Yrust to Lender. ���t`'��
<br /> Deiense o}Yltlo. SubJect to the exception In the parflgraph Etbove,Trustor warrants and wili forever dafend tho tiBe to the Property agalnst Ihe �'� �"
<br /> Inwfui clnims ol a11 persons. In the event any action or proceoding Is commenced that questlons TNStors Htle ar the Interest of Trustee or � ��. � �
<br /> Lender under thls Doed ot Trust,Trustor shall defend the ec►lon at Trustor's e�onsc�.Trustor may be the nominal pflrty In such proceoding,but ,•�=•'!
<br /> Lender shatl be entitled to paRiclpate In the procaeding and to be represented In the proceeding by counsel of Lsnder's own Cho�e,and �'
<br /> Trusior will detiver,or cause to be delivered,to Lender such Inshuments es Lender may requnst from timA to Ilma to permil such psrt�ipation.
<br /> Comptiance Wlth Lawa. Trustor warrants that the Property nnd Trustors uso of the Property corr,plios wlth ail exlsting appucable laws, • ' .� .a
<br /> or�inances,gnd regulations of governmental authodfles. ""�' Y��
<br /> CONDEMNATION.The toliowing provislons relating to condemnntion proceedings ure e part of this Deed olTrust. •%"` ��
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<br /> Appilcatlon af Het Proceeds. If all or any purl of the Property Is condomned by eminent domnin prooeedings or by any procee�ing or
<br /> purChflse In Ileu of condamnatlon,Lender may at Its elecllon requlre that ail or any portlon of the net proceeds of the award be epplled to the �
<br /> Indebtedness or the repair or restoratlon of the Property. The net proCeeds of the eward shail mean the award etter payment of all reasonabie • ,
<br /> cosls,expenses,and atlorneys'fees Incurred by Trustee or Lender in connocdon wHh Ihe condemnalion. -
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<br /> P�aCeedlnQs. It any proceeding In condemnation Is filed,Trustor shall promptly notily Lender In writing,end Trustor shall promptly take su�h " �
<br /> steps as may be necessary to detend the aCtion end obtaln the award. Trustor may be the no:ninal perty in such proceeding,but Lender shall � " ;�c
<br /> � be entitted to pnrNcipato In the proceoding and to be represented In the proceacling by counsel ot ifs own cholce,and Trustor wul deliver or � .�
<br /> i cause to be de4vered to!onder such instruments as may be requested by it trom time ta tlme to permitsuch particlpation. � , _
<br /> � IMPOSITIbiV OF TAXES,FEES AND CHARGES BY GOVERNMENTAL AUTNOAITIES. The following provlslons reiating to governmontei texes, •
<br /> I fees and charges are a purt of this Dasd of Trust:
<br /> Current Texas,Fees and Charqes. Upon request by Londer,Trustor she�l execute such dxuments N additlon to this Dsed of Trust and lake
<br /> I whatever other pction Is requostod by Londor to perfect and conttnuo Londer's Ilen on thd Real Proporty. Trustor shall reimburso Lender fa all
<br /> � taxes, aS described boiow,togethor with all expenses inCUrtod in reCOrding,pertecdng or contlnuing thls Deed ot Trust,Including without
<br /> IlmiUttfon all tiuces,foes,doCUmentary stumps,and other charges tor reCOrtling or registering this Deed of Trust. _
<br /> Tt�ces. The fotlowing shall constitute t[ixas to wh�h this 5ection epplies: (a)a specitic tax upon lhis type of Deed of Trust or upon all or any
<br /> pad of Iho Indebtednoss secured by this Deod of Trust; (b)a specltic tex on Trustor whlch Trustor Is uuthorized or requtred to dBduCt Irom
<br /> paymont�on fho Indr,bfedness socured by ihi5 type of Deed of Trust; (c)a tax on Ihis typo o}Deed of Trust chergeable agalnst the Lender or
<br /> tho hofder of Ihe Note;and (d)e specific tax on all or any po.tion of the Indebledness or on payments oi principal and interest made by -
<br /> Trustor.
<br /> Subseqtcee�t Toxe3. If nnv tox to which this sechon appllos Is onuctod subsoquont to the date of thls Dead o(Trust,this evont shnll have tne
<br /> same eHect as an Evenl of uefault(as dalined below),and Lender may exercise flny or all of Its available remedles for an Event uf Defaull as
<br /> ' provided below uniess Trusttir either (a)pays the tax batoro it becomss deifnquent,or (b)Contests the tax as provided above in the Texes and
<br /> ' Liens sectlon and deposits with Lender cash or n suffic�ont corpomte suroty bond or other security satistactory to Lender.
<br /> SECUNITY AGREEMENT;FINANCING STATEMENTS. Tho follo�ving provisions relating lo this D66d o1 Trust u�a security agreement are a pnrt ot `
<br /> . thls Deed of Trust.
<br /> Security Apreement. This Instrument shall constitute e sc3curity agreament to the extent any of ihe Proporty constitutos fixtures or alher
<br /> ' ; parsonai proporty,ond Lender shell have all of Ihe rights ot e socurod party under 4he Uniform Commorcial Code as amended hom time to
<br /> . time.
<br /> Security Interest. Upon roquest by Lender,Trustar shall execute finnncing statemonts nnd tako whalover othor ecdon is requesled by Lendor
<br /> to Dertect and Continue Lendor's security intorpst f�thp Rents flnd Personal Proporty. In addiflon to recording this Doed of Trust in ihe ree�
<br /> �. prop�rty reCOrds,londer moy,et nny time end without fudher puthoriz3tlon from Trustor,fde oxeculed cOUnterperts,coples or reproductions o� -
<br /> � thls Deod oT Tn:st as a tinnnc�ng stntement. Trustor shnll reimburso Lender 1or all expenses Incurcvd I�perfecting or conflnuing this secunty
<br /> � �ntorest. Upon defnuu,Tr►�slor shnll nssamble tho Persone!Proporry In�rngnn�r flnd ot e p�ace r0asonably Convonipnt to Trustor and Lender
<br /> wnd mnkn ft avaiiublo ta Lendor within fhree(3�dnys nfter recelpl of writton dom¢nd Irom L�3nder.
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<br /> • I QddreBSls. The ma�ling nddrpssos ot Trustor(debtor)end Lendor(,ecurod party), from which Inforrnphon conctarrnng the secunty inlBrESI
<br /> • I grentod by this Deed of Trust mny bp obtelned(each es rpquired by thp Unitorm Commerciaf Code), are es stnted on tho first page of th�s Ceed
<br /> ol Trust.
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