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<br />Loan No: 93534801
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200602576
<br />
<br />Page 5
<br />
<br />Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any
<br />time held by or for the benefit of Lender in any capacity, without the written consent of Lender.
<br />
<br />Governing Law. This Deed of Trust will be governed by federal law applicable to Lender and, to the extent not preempted by federal law,
<br />the laws of the State of Texas without regard to Its conflicts of law provisions. This Deed of Trust has been accepted by Lender In the
<br />State of Texas.
<br />
<br />Choice of Venue. If there is a lawsuit, and if the transaction evidenced by this Deed of Trust occurred in McLennan County, Grantor agrees upon
<br />Lender's request to submit to the jurisdiction of the courts of McLennan County, State of Texas.
<br />
<br />No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing and
<br />signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A
<br />waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict
<br />compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender
<br />and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the
<br />consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance shall not constitute continuing
<br />consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion
<br />of Lender.
<br />
<br />Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any
<br />circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible, the
<br />offending provision shall be considered modified so that it becomes legal, valid and enforceable. If the offending provision cannot be so modified,
<br />it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any
<br />provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust.
<br />
<br />Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantor's interest, this Deed of Trust shall be
<br />binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other
<br />than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the Indebtedness by
<br />way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust or liability under the Indebtedness.
<br />
<br />Time Is of the Essence. Time is of the essence in the performance of this Deed of Trust.
<br />
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specifically
<br />stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in
<br />the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this
<br />Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code:
<br />
<br />Beneficiary. The word "Beneficiary" means American Bank N.A., and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means South Central Industrial Properties X, LP and includes all co-signers and co-makers signing the Note and
<br />all their successors and assigns.
<br />
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Grantor, Lender, and Trustee, and includes without limitation all
<br />assignment and security interest provisions relating to the Personal Property and Rents. '".
<br />
<br />Default. The word "Default" means the Default set forth in this Deed of Trust in the section:title~'''[}efa!Jlt''.
<br />
<br />Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to
<br />the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and
<br />Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986, Pub.
<br />L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq., the Resource Conservation and Recovery
<br />Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto.
<br />
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of default section of
<br />this Deed of Trust.
<br />
<br />Grantor. The word "Grantor" means South Central Industrial Properties X, LP.
<br />
<br />Guarantor. The word "Guarantor" means any guarantor, surety, or accommodation party of any or all of the Indebtedness.
<br />
<br />Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, Including without limitation a guaranty of all or part of the Note.
<br />
<br />Hazardous Substances. The words "Hazardous Substances" mean materialS that, because of their quantity, concentration or physical, chemical
<br />or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated,
<br />stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very
<br />broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the
<br />Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by-products or any fraction
<br />thereof and asbestos.
<br />
<br />Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the Real
<br />Property, facilities, additions, replacements and other construction on the Real Property.
<br />
<br />Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related
<br />Documents, together with all renewals of, extensions of, modifications of, consolidations of and substitutions for the Note or Related Documents
<br />and any amounts expended or advanced by Lender to discharge Grantor's obligations or expenses incurred by Trustee or Lender to enforce
<br />Grantor's obligations under this Deed of Trust, together with interest on such amounts as provided in this Deed of Trust.
<br />
<br />Lender. The word "Lender" means American Bank N.A., its successors and assigns.
<br />
<br />Note. The word "Note" means the promissory note dated March 17, 2006, in the original principal amount of $280,000.00 from
<br />Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the
<br />promissory note or agreement.
<br />
<br />Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned
<br />by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements of,
<br />and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of
<br />premiums) from any sale or other disposition of the Property.
<br />
<br />Property. The word "Property" means collectively the Real Property and the Personal Property.
<br />
<br />Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust.
<br />
<br />Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments,
<br />agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness.
<br />
<br />Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the
<br />Property .
<br />
<br />Trustee. The word "Trustee" means Willard J. Still, whose address is P. Q. Box 2507, Waco, TX 76702-2507 and any substitute or successor
<br />trustees.
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