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~:~ r, ,,,, ~ ~ DEED OF TRUST Loan No: 939~~$ ~ (Continued) 2 O 1 O O 2 8~~ Page s Trustpr's Report on Insurance. Upon request of Lender, however not more than once a year, Trwstoi shall furnish to Lender a report on each. existing policy of insurance showing: (1 F xhe narhe of the insurer; 121 the• risks insured; 13) ihe`amourit of the policy; 14- -the property insured, the then current replacement value bf such property, and-the manner of determining that value( and 151 the expiration date of the policy. Trustor shall, upon request of Lender, have an independent appraiser satisfactory to Lender 'determine the cash- value replacement cost of the Property. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Trustor fails tv comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Trustor's failure to discharge or pay when due any amounts Trustor is required to discharge ar pay under this Deed of Trust or any Related Documents, Lender on Trustor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs far insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Trustor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportipned among and be payable with any installment payments to become due during either 11- the term of any applicable insurance policy; or 121 the remaining term of the Note; or ICI be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and .remedies to which Lender may be entitled upon ,Default. WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust Title. Trustor warrants that: la- Trustor holds good and marketable title of reGOrd to the Property in fee simple, free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and Ib- Trustor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception in the paragraph above, Trustor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the interest of Trustee or Lender under this Deed of Trust, Trustor shall defend the action at Trustor's expense. Trustor may 6e the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by Gounsel of Lender's own choice, and Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation. Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable laws, ordinances, and regulations o.f governmental authorities. - ~ . Survival of Representations and Warranties. All representations,' warranties, and agreements made by Trustor iri this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect until such time as Trustor's Indebtedness shall be paid in full. CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: Proceedings. If any proceeding in condemnation is filed, Trustor shall. promptly notify Lender in writing, and Trustor shall promptly take such steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding 6y counsel of its own choice, and Trustor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation. Applioatian of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender may at its election require that all ar any portion pf the net proceeds of the award be applied • iv r!ta~ Incietitedness. or the repair or restoration of the Property, T lle net proceeds of the award shall mean ti7e award af.vr payment of all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation. IMPOSITION pF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes, fees and charges ors a part of this Deed of Trust: Current Texas, Fees and Charges. Upon request by Lender, Trustor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested 6y Lander tp perfect and continue Lender's lien on the Real Property, Trustor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of. Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust. Taxes. The following shall cohstitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust ar upon all or any part of the Indebtedness secured by this Deed of Trust; 12) a specific tax on Trustor which Trustor is authorized or .required to deduct from payments cn the Indebtedness secured by this type of Deed of Trust;:, (3) s tax on this. type of Deed of Trust chargeable against the Lender or the- holder of the Note; and 141 a specific tax on all or. any portion of the. Indebtedness or on payments of principal and interest made by Trustor. Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall 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 provided below unless Trustor either 11) pays the tax before it becomes delinquent, or 121 contests the tax as provided above in the Taxes and Lions section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The• following provisions relating to this Deed of Trust as a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shall cpnstitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender, Trustor shall take whatever action is requested by Lander to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may; at any time and without further authorixa~ion,trom Trustar,~ file-.executed catanterparts, ..copies nr reproductions of this Deed of Trust as a finanding statement. Trustor shall reimburse Lender for'all expenses incurred in perfecting or continuing this security interest. Upon default, Trustor shall not remove, sever or detach the Personal Property from the Property. Upon default, Trustor shall assemble any Personal Property not affixed tv the Property in a manner and at a place reasonably convenient to Trustor and Lender and make it available to Lender within three 13- days after receipt of written demand from Lender to the extent permitted by applicable law. Addresses. The mailing addresses of Trustor (debtor) and Lender (secured party) from which information concerning the security interest granted by this Deed of Trust may be obtained leach as required 6y the Uniform Commercial Code) are as stated on the first page of this Deed of Trust. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this Peed of Trust: Further Assurances. At any time, and from time to time, upon request of Lender, Trustor will make, execute and deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, grid when requested by Lrrrider, cause to be filed, regarded, r`efiled, or rerecorded, as the case may be, at such times and in such offices and places as'hendet may deem .appropriate; any and all „ g g such mort a es, deeds of trust, security deeds, security agreements, financing statements, Gpritiriuativn statements, instruments of fu~fher assurance, certificates, and other documents as may, in the sole op"itiion of Lender; be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Trustor's obligatidns under the Note, this Deed' of Trust, ahd the Related Documents, and 12) the liens and security interests created by this Deed of Trust on the Property, whether now owned pr hereafter acquired by Trustor. Unless prohibited by law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph.