|
+ ; , ~ ~ ~; ; ~ DEED OF TRUST 2 O 1 O O O 3 O 1
<br />loan No: 10127327 (Continued) Page 4
<br />laws, ordinances, and regulations of governmental authorities.
<br />Survival of Representations and Warranties. All representations, warranties, and agreements made by Trustor 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 fprce and effect
<br />until such time as Trustor's Indebtedness shall be paid in full.
<br />EXISTING INDEBTEDNESS. The following provisions concerning Existing Indebtedness are a part of this Deed of Trust:
<br />Existing Lien. The lien of this Deed of Trust securing the Indebtedness may be secondary and inferior to an existing lien. Trustor
<br />expressly covenants and agrees to pay, ar see to the payment of, the Existing Indebtedness and to prevent any default on such
<br />indebtedness, any default under the instruments evidencing such indebtedness, nr any default under any security documents for such
<br />indebtedness.
<br />No Modification. Trustor shall not enter into any agreement with the holder of any mortgage, deed of trust, or other security
<br />agreement which has priority over this Deed of Trust by which that agreement is modified, amended, extended, pr renewed without
<br />the prior written consent of Lender. Trustor shall neither request nor accept any future advances under any such security agreement
<br />without the prior written consent of Lender.
<br />CONDEMNATION. Tha following provisions relating to condemnation proceedings era a part of this Deed of Trust:
<br />Proceedings. If any proceeding in condemnation is filed, Trustor shall promptly notify Lender in writing, and Trustor shall promptly
<br />take such steps as may be necessary to defend the action and obtain the award. trustor may be the nominal party in such
<br />prpceeding, 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 Trustor 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 participation.
<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, Lender may at its electipn require that all nr any pprtion of the net prpceeds of the award be applied
<br />to the Indebtedness or the repair pr restoration of the Prpperty. The oat prpceeds 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 13Y GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental
<br />taxes, fees and charges are a part of this peed of Trust:
<br />Current Taxes, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of Trust
<br />and take whatever other action is requested by Lender to perfect and continue Lender's lien pn the Real Property. Trustor shall
<br />reimburse Lander for all taxes, as described below, together with all expenses incurred in recording, perfecting nr continuing this Deed
<br />pf Trust, including without limitation a-I taxes, fees, documentary stamps, and ether charges for recording or registering this Deed of
<br />Trust.
<br />Taxes. The following shall constitute taxes to which this section applies: 11) a specific tax upon this type of Deed of Trust or upon
<br />all or any part of the Indebtedness secured by this Deed of Trust; 121 a specific tax on Trustor which Trustor is authorized or
<br />required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; 131 a tax on this type of Deed of Trust
<br />chargeable against the Lender or the holder of the Note; and 141 a specific tax on all or any pprtipn pf the Indebtedness or on
<br />payments of principal and interest made by Trustor.
<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 same effect 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 Trustor either (11 pays the tax before it becomes delinquent, or 12- 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 Lender.
<br />SECURITY AGREEMENT; FINANCING STATEMENTS. The following previsions relating to this Deed of Trust as a security agreement are a
<br />part of this Deed of Trust:
<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, Trustor shall take whatever action is requested by Lender to perfect and continue Lender's
<br />security interest in the Rents and Personal Prpperty. In addition to recording this Deed of Trust in the real property records, Lender
<br />may, at any time and without further authorization from Trustor, file executed counterparts, copies or reproductions of this Deed of
<br />Trust as a financing statement. Trustor shall reimburse Lender far all expenses incurred in perfecting or continuing this security
<br />interest. Upon default, Trustor shall oat rempve, sever or detach the Personal Property frpm the Property. Upon default, Trustor shall
<br />assemble any Personal Prpperty not affixed to the Property in a manner and at a place reasonably convenient to Trustor and Lender
<br />and make it available to Lender within three 131 days after receipt of written demand from Lender to the extent permitted by applicable
<br />law,
<br />Addresses. The mailing addresses of Trustor Idebtorl and Lender (secured party) from which information concerning the security
<br />interest granted by this Deed of Trust may ba obtained leach as required by the Uniform Commercial Cade) 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 attorney-in-fact are a part of
<br />this Deed of Trust:
<br />Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and deliver, or will cause
<br />to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded,
<br />refiled, or rerecorded, as the case may be, at such times and in such pfficea and places as Lender may deem appropriate, any and all
<br />such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of
<br />further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to
<br />effectuate, complete, perfect, continue, or preserve It- Trustor's obligations under the Note, this Deed of Trust, and the Related
<br />
|