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DEED OF TRUST 200206631
<br />Loan No: 34422 (Con inued)
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<br />(B) to provitlp any required insurance on the P(oPOdy, or (C) to make repairs le the Property then Lender may do so. If any action
<br />pro or
<br />ceeding is cammenced that would duanally affect Leader's interests in the Property than Lender
<br />, on Trusters halal, may, but is not required
<br />to, Woe any action that Lentler balievers to be appropriate to protect Lender's Interests. All expenses incurred or paid by Lender far such
<br />purposes will then bear interest at the
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<br />rate Charged under the Note tram Oe date incurred or paid by Lender to the date of repayment by Truster.
<br />All such expenses will baoorne a pad of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance
<br />Of the NOW add be appomistad
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<br />among and be payable wile any installment payments to become due during either (1) the term of any
<br />applicable insurance policy or (2) the remaining fern, of the Ned, ar (C) be treated as a balloon
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<br />Payment which will be due and payable at No
<br />Notes maturity. The Dead of Trust aISO will secure payment of these annums. The fights provided for In this paragraph dean be in addition to
<br />any other rights or any ramed!os Is Lender
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<br />which may be entitled on account of any default. Any such action by LenJCr snail not be construed ve
<br />d brq the di so as to bar Lender from any remedy that It otherwise would have had.
<br />WARRANTY; DEFENSE OF TITLE. Tea following provsions relating to ownership of the Pcpeny are a part of this Deed of Trust:
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<br />Title. Trunce Warrants that: (a) Trustor holds good and marketable tits of record to the Prosody in fee simple. free and clear of all ('lens end
<br />en uareance5 other than those set lonh in the Real Property descatlion or In title insurance
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<br />any POLICY. title broad, or Ono, title opinion
<br />issued is favor ol, and accepted by, Lander is connndea, with this Deed of Trust, and (b) Truslor has the full
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<br />rigor, Power, and authority to
<br />execute and tlelivor ;his Deed of Trust to Lender.
<br />Defense of Title. Subject to the exception in the paragraph above, Truslor warrants antl will forever data. the title to Ill. Properly 2gurs,
<br />the lawful calms of all Uarcane. In he event
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<br />any action or proceeding is cammanced that questions Truster's title or the interest of trustee Or
<br />Lender undo, this Deetl of The.l. Truslor ohat defend the action at T usear's expense. Truslor
<br />cry be the nominal xi In such peceedmg,
<br />out Lender shall be entitled to Pahicfpate in the exceeding and to be represented! in the proceefing by counsel of Lender's awn choice, and
<br />Truster deliver,
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<br />will Of cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such
<br />participation,
<br />Compliance With Laws Trustor warrants that the Property and Tmstor'S use of the Property complies with all existing applicable laws,
<br />ordinances and regulations of governmental a i babes.
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<br />Survival of Promises All Promises, agreements, and statements Truslor has made in this Dead of Trust shall survive the execution and
<br />delivery of this Deed Trust
<br />of shall be continuing in nature and shall remain in lull force and efloct until such time as D rm. ors
<br />Indebtedness is paid in lull
<br />CONDEMNATION The auditing provie.n, relaing to condemnation prsenwhr, are a pan of this Deetl of Treat
<br />Proceedings. If any p weeding in condemnation is filed, Truster shall promptly notify Lender in writing, and Toaster shall promptly Wke such
<br />steps s rL be redo ery to defend the i
<br />and obtain the award Truslor may be the nominal parry In such proceeding, but Lender
<br />shall ed entitled to parts pate in the Proceeding and to be represented in the proceeding by counsel of Its own choice, Truslor
<br />and will
<br />doeor or cause to be delivered to Lander such instruments and Potentia lion as may be requested by Lander from lime to (fine lO permit
<br />such participation
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<br />Application of Net Proceeds If all or any part of the Property is condemned by eminanl domain proceedings or by any proceoding or
<br />purchase in lieu of condemnation Lender
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<br />may at its election requ re that all or any port an of the not proceeds of the award be applied t0 ale
<br />Indebtedness or the repo o restoration Of the Property. The net prweres of the award shall mean the award after payment of all
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<br />reasonable costs, te,ur os, antl attorneys' fees incurred by Trustee or Lender n Connection with the condemnation.
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<br />IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following
<br />fees 9 P ovisians relating to govarnnrenWl texas,
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<br />and charges are a pad of this Dead of Trust:
<br />Current Taxes Fees and Charges. Upon request by Lender Teethe shall exec fie such documents in addition to this Dead Trust
<br />of antl
<br />We whatever other actions equestad by Lender to Perfect and continue Lenders lien on the Real Property. Truster shall reimburse Lender
<br />µor all taxes. as described below, together with all expenses bearded in
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<br />,deciding , wdwlibg or Penchi this Deetl of Trust, Including
<br />without limitation all taxes leas documentary stamps, and other charges lOr recording or registering this Deetl of Trust
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<br />Taxes The following shall constitute taxes IO which this section apples. (11 a s0aclic lax upon this type 01 Deed of Trust or upon all or any
<br />Pad OI Indebtedness secured by this of Trust;
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<br />(2) a spec I c lax on Borrower which Borrowers authorized or required to deduct
<br />yon b
<br />UCm payments on irO Ian,
<br />[� ,
<br />red
<br />Net.; an secured Sp this typo n Deed of Trust; (3) a Wx on this type of Dead of Trust chargeable against the
<br />or the hofeer o' Ne Note' and (4) a Specific lax on all or any gamier of file Indapedness
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<br />.do Or on payments of principal and interest
<br />rwtla by Borrower.
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<br />Subscribed, Taxes. It any tax to when this section applies Is enacted subsequent to the date of this Deed of Trust, this event shall have the
<br />attest as An Event of Default, and Lender
<br />sums may exercise any or all of its available remedies for an Event el Default as provided below
<br />less TIUSIOf 6,VIe! (1) Pays Iha Idx bel0le if baCCTBS dellOgW at, or (2) contests 16 tax as care ided awe In the Taxes and Liebe
<br />section and deposits with Lender cash or a sufflcfent corporate such, teen or other security satisfactory to Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following
<br />of !his Deed of Trust: 9 Provisions relating to Ceed of Trust as a security agreement are a pad
<br />Security Agreement. This instrument shat consulate a Security Agreement to the extent any of the Property constitutes fixtures, and Lentler
<br />Shall have all of No rights Of o secured
<br />Party unite, the Uniform Cannot tint Cade as amended from time to fine.
<br />Securty Interest Upon request by Lerida! Truslor shall execute financing statements and lake whatever other action is requested by
<br />Lender to Perfect and continue Landers security interest Los Parsmal
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<br />in Property. In addition to recording INS Deed of Trust in No real
<br />Property records. Lender may, at any Lima and without funhor authorization Porn Trusts, file executed counterparts, copies Or reproductions
<br />Of this DOW of Trust as a financing statement Truster Sir all is A..rse 1 ender for all expenses incurred in perfecting or Patients g this
<br />,.duty ,ores Upon default Truslor shall Pat remove saver or deuch file Persoml
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<br />Property from the Property. Upon default. Truslor
<br />shall arse ble any Personal Property not affixed to the Property In a manner and at a place reasonably convenient to Truster
<br />and Lender
<br />and make it available to Lender within three (3) days after rwPi o of written de rat d from Lander to the extant permitted by applicable law.
<br />Addresses. The mailing addresses of Truster (debtor) and Lander (seared pally) h.,m which iof erei concerning the security interest
<br />granted by this DOW of Trust may be oblaxtad (each ae required by the Uniform Cost In it Cpfo)
<br />Deed of To.,,. are as staled on the first page of this
<br />D Bd FURTHER ASSURANCES; ATTORNEYJN -IN T. The following provisions hiring to further Ss"u rtes and attorney are O part of iM1is
<br />Further Assurances. Al any time and from time to time, upon mquesl of Lender, Trutitor will mado, exeocV and deliver. Or will Cause 10 be
<br />n ode. executed or dialuled to Lentler b
<br />, or 10 Lender's desepton, And when rdquasted by Lender, so, .1 fo be filed recorded, reflled,
<br />droccoAd, as the Coeo may tea, at such limes and In Such efforts and Places as Lander may doubt approprats,
<br />any and all such mar gage,,
<br />Phase of trust, security deeds, security agreements, fuchudfng statements BBn reason nuloments, instruments Of further assurance,
<br />Brlilic,loa and Other documents as may in the Sets Opinion of LBni be
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<br />necessary or desirable, ,p order to effectuate, complete, pellact
<br />crtnlume, or preserve (1) Borrower s and Trust-' s Lain, re III has Note, the Deal of Trust, and the Hotel. Document., and
<br />(2)
<br />IOe and and security 'ntv'rests Cleated by and Deed Of Trust PS fast and prior Ilene art the Properly, whether how OWOed Or he...fie,
<br />acquired by Teaser. UPIOSS Prohibited by law, or Lender agrees to the in
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<br />convary writing, Trustor shall reimburse Lender for all costs and
<br />oxponses incurred In connoclian with the matters referred to In this paragraph.
<br />AlksrneybmFad. It Truslor fails to do any of the things efeded preceding lO In the prec Paragraph, Lender any he so for antl m the name of
<br />Truslor antl at Tmslorn expense. For such purposes, Trusto, hereby irrevocably aGwinls Londor as Trusters
<br />p
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<br />attonmy,imfact for the
<br />pueoaa of Lurking, Preening, rejoining, rlheg, adds nlg, and all all Oaher thing$ as hi be necessary or desirable. in Lender's
<br />sole
<br />OPimon, to accomplish me matters inferred to in the preceding Paragraph.
<br />FULL PERFORMANCE. If Borrower Pays all the Indebtedness, including wr
<br />wihout limit. all ,stare advances, when duo, and oherwise forms
<br />au mO Obligations reported old Truslor under this
<br />g w pa Deetl Trust
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<br />i
<br />of , a
<br />Lentler shell execute end tleliver to Tluspa a request for lull rxonveyanc. and
<br />Shall execute and deliver to Truster suiudo s'alpmenla of terminaliOn Ol env fnan:inn<mmr..e..r.... tin....... --------- ._.__._ .. ..
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