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200304970 Trustor represents, warrants and agrees drat. A. Except as previously disclosed and acknowledged in writing to Beneficiary, no Hazardous Substance is or will be located, stored or released on nr in the Property. This restriction does not apply to small quantities of Hazardous Substances that are generally recognized to be appropriate for the normal use and maintenance of the Property. B. Except as previously disclosed and acknowledged in writing to Beneficiary, Trustor and every tenant have been, are, and shall remain in full compliance with any applicable Environmental Law. C. Truster shall immediately notify Beneficiary if a release or threatened release of a Hazardous Substance occurs on, under or about the Properly or there is a violation of any Environmental Law concerning the Property. In such m event, Trustor shall take all necessary remedial action in accordance with any Environmental Law, D. Truster shall immediately notify Beneficiary in writing as soon as Trustor has reason to believe there is any pending or threatened investigation, claim, or proceeding relating to the release or threatened release of any Hazardous Substance or the violation of any Environmental Law. 12. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Trustor will not be required to pay to Beneficiary funds for taxes and insurance in escrow. 13. JOINT AND INDIVIDUAL LIABILITY; CO- SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Trustor signs this Security Instrument but does not sign an evidence of debt, Truster does so only to mortgage Truster's interest in the Property to secure payment of the Secured Debt and Truster does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Beneficiary and Trustur, Toaster agrees to waive any rights that may prevent Beneficiary from bringing any action or claim against Truster or any party indebted under the obligation. These rights my include, but we not limited lo, any antideticiency or one - action laws. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Truslor and Beneficiary. 14. SEVERABILITY; INTERPRETATION. This Security Instrument is complete and fully integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instmment. 15. SUCCESSOR TRUSTEE. Beneficiary, at Beneficiary's option, may from time to time remove Trustee and appoint a successor trustee without any other formality than the designation in writing. The successor trustee, without conveyance of the Property, shall succeed to all the title, power and duties conferred upon Trustee by this Security Instrument and applicable law. 16. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page I of this Security Instrument, or to any other address designated in writing. Notice to one trustor will be deemed to be notice to all trustors. 17. WAIVERS. Except to the extent prohibited by law, Truster waives all appraisement and homestead exemption rights relating to the Property. 18. LINE OF CREDIT. The Secured Debt includes a revolving lino of credit. Although the Secured Debt may be reduced to a zero balance, this Security Instrument will remain in effect until released. 19. APPLICABLE LAW. This Security Instrument will be governed by applicable federal law and the law of the state of Texas without regard to its rules regarding the conflicts of laws, except for matters regarding the perfection and enforcement of the lien on real property, which will be governed by the law of the state where the Property is located. 20. RIDERS. The covenants grid agreements of each of the riders checked below are incorporated into and supplement and amend the terms of this Security Instrument. [Check all applicable boxes] ❑ Assignment of Leases and Runts ❑ Other ............. _............................................... ............................... 21. ❑ CONSTRUCTION LOAN. This Security Instrument is a construction security interest which secures an obligation incurred for the construction of an improvement on the Property. 22. ❑ ADDITIONAL TERMS. �� leaps a w ni 0 1996 Banker SyelemsInc.. S, C�auO. MN 1—US... tar NE B1713001 � -