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<br /> 12-24—t897 DEED O�Tf3U�T Peg�3 �.f
<br /> ` Loan Mo 614305 tCor�nued} 9�-��d)��o�a� . . :
<br /> � . . , . ,
<br /> to pay.so torr�es Lendsfs interest in tlie Pcoperty Is nat jeapard�md- It a�en arises a is fited as a r�tdt ot nonpayment,Tnutor shaA witldn � _ ` � ..
<br /> ^ fifteen(t5)daYs eRer tl�e Qen arises ar.H a Qen ts fited.wdNn fdteen(75j daYS after Trustor has nctite af the�ng.secur0 the disehar�gs ot th0 . - .°'.��y��,--
<br /> `� - Gen.m it reques�d by LenQer.depcs�'t wdh Lander�st�or a sufEcterrt carporata surery bond or otAer security sa�tadory►ta lender(n an •
<br /> � amounl sufHeie�+t to d'�scharge fhs fcan ptus any cosis and afiameys fess or oth�charges thal cauid aoaua es a�N1 af a toredosure or sata �
<br /> � � � � under tt�Gen. In etty►contest,Trustar sha0 defand Hse11 and Lender and sAaU�+any adve�se judgmenl Detare entorcement agalnst the �• ,��,.
<br /> .• • PropaRy. Twtor shaD rtame Lendar es an alditlonai abUgee under at►y surety bond furtdshed in the corrt�t Proc�ngs. • '` �. . :..
<br /> ' � � , - EviQ2nce ot pByment. Tttstor sttail upon demand furrti�to Lender satlsiadorY evtder�ce a1 payme�U ot ths faxes ar a55essments end shaD ' �.: `. •".
<br /> . � auth�the appropriffi9 govemmet�ffiI ofHdat to deIIver to Lender at any Uma&�n statement o!Ihe taxes and ss5essa�erAS egalnst the ' • - .
<br /> ' ' Property. '
<br /> -��-�; Hotie�oP CarisWetlor►. Tnstor sha0 noUfy Lender at teasl fifteen(15)days befae arry work is eommsnoed.eny seMces are fumbSied�or any __ � ,.
<br /> - - materlats are supplled�o the PropeRy.U any machanic's Gen.matertaimens Qen,ar oU►er Gen coutd Ee assarted an axounl ot the work. - �-
<br /> - — -.- servfoes,at mate�ab. Trwtor wID upon raqu�t of Lender fl�rntsh W Lender edvance assuranoes satisfactory to Lender that Tnista can and wIB :- , � --
<br /> pay the Cost ot SuCh impmvemer►Ls. . '.
<br /> � , ` PROP�RTY DAMAGE IHSUAAHCE.The fauowing pmvistons cetating to inswr(ng the ProPerg►a�a Part ot thts D�ed ot Tnu! . �"' �`�,
<br /> Nlaintenance of lnsuranoe. Trustor shall procure and matritatn paltc�s of fue insurar►ce witt�standard extended coverage endorsemenis on a , - - -
<br /> ' � reptacement ba5is tot ihe tuU i�uraCte value covering aU Improveme�an the Fteal Properiy in an amaurd su�JCieM to awid app�Catton of arry - - .
<br /> . ' coiasfuance dause,and vrith a standard mortgegee ctause in tavor of Lender. Tnutm shaD eiso procure and maintaln campreher�sive genetel - 'C `.�
<br /> � . . GabiGty insuranoe in such cavenage amou�s as Lender may re4ussl with trustee and Lender Oeing narned es addr�onallnsureds In such�abiGiyt . . :"'�_-,-�-
<br /> " Insutanee poltdes. /idd6anaUy.Tttutor shaD malydain sttch other fisurance.tndudtng bul aot Umited to lismrQ btainess ir�ruaflo0.and ��. ..•t•=:t�_�-'"
<br /> bottar Insurance.as Lender may reasonabty wQuUe. PoIIci�sha0 be wr�ten in tartn.amou�s.eoverages and basb reasonably eooeylabte t0 :�,.� �`-. -
<br /> � Lender and issued by a compa�ry or compaNes reasonabty aooeptebie to Lender. Trusto,upon request ot Lend�wID deli+rer to l,ender fram . __
<br /> 6me to tlme tke po�or oartificates af insurance in farm satisfactory to Lender.inctudmg sdp�daUons that eove►ag�w1D no!be�ed or � -"`�--
<br /> ' � dlmWshed wfthoul at least ten(t0)day�priar written nodce to Lender. Eect�insuranoe po0cy etso shaA inc[ud9 en endorsemer�t provlding thai ����*r'
<br /> . - cover�qe in tavor of Lender w�1t nat be Impalred in arry way by arry act,omission or detautt of Tnistor or arry other person. ShoWd Uie Real -. . ' '::_
<br /> • � - Property at er►y time become tocated tn an area C�fBnated by the DLrector of the FedeTal Eme�gency Managemerrt Agency ss a specisl ftood -
<br /> hazard erea.TnsWr agress to oblaJn and matntah�fFederal Raod Ins�tor the tuD ur�aid pdndpal halance of tAe(oan,uA to the m�dmum -� :
<br /> , tah
<br /> poGcyr tfmits sst under the NaUanal Flood Insunance Program,or as othenvlss required by Lender.and to mair�in such t�uurance 1or the term of � .
<br /> ,: ;
<br /> � - thB to8n. , . _--
<br /> • - �- AppAeatton of ProxeQs. Frt�stw shali PromAflY notiry Lender ot arry toss ar dart�ags to the Praperty. Lender maY�e Proot at lass lt Tnator �, ,.__.,`�----=
<br /> fads to do so withln fiftesn(t�days of the casuafly. Whether or not Lenders security b irt+paired,Lender may,at its eledton,recehrs and retain � ��.
<br /> tha proeeeds of any insmance and apply the proceeds to the reduction of the indebtedness,payment ol any Qen atfecUng tha Propertfb or the ��,
<br /> , � ' ,. . restoration and�epafr ot the Property. If Lender etects to aDPM the praceeds to restoratlon and repair, TntsWr shaD repair or repfaoa the -���--1--
<br /> � �� damage0 or destroyed Impmvemerds in a mannar satisfactory b Lender. Lendet shali,upon satisfaGory proot of such e�en�ture.pay or • .t^fc.;s';,�,,;i'-:
<br /> ° � reimbuiss TnLStor irom Me proceeds for the reasonabte cost of repetr or restoraUan U Tn�stor is not in Qefault under this Oeed of Trust AnJI ;.• .;:,,�;;
<br /> . `�.h.° proa�whicA have not been d�bwsed within 180 Qays aftet 1heU receipt and wNCh lender has no!commltt9d to the repahr or r�tora6arn of :, ��"sc�.::.,�.;,,
<br /> { the Propertyr sha11�a used first to pay any amount owfng to lertder unQer tNs Oeed of Tn�st,then to pay accrued inter�t,and the remadider.U �� :.:':���
<br /> . � any,shaD be aDpCed to the pdnctpal batance of the IndebteQness. If Lender ho(ds an)I proceeQs after paymeM in fuU of the Mdabtedness,such r �,;. ,..
<br /> proceeQS shall be paid to 4rustor as Tnistors irtleresis may BpDear• � ��' � `���
<br /> ' • Une�tre0(agurtnap at Sate.My une�ired insuranw shalt inure to the beneft!of,and pass to.the P��e►of the ProDeRY covered by thts .;• �,�1;2:�,�
<br /> � Oeed of Trust at any trustee's sa18 or other sete deld under the pravtsions of ttiis Geed of Tnut,or at any tarectosure sa(e of sucA PropeAY. �,,�'- '`���=�
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<br /> TrustoPa RepoA on Insutanee. Upon request of Lender,howaver noi more than once a year,Trustor shall tumisb to Lendar a repoA on each •y;_:
<br /> . � � . , e�dsUrtg po�cy ot insuranCe SAowing: (a)the name ot the insurer, (b)ihe risks insuced; (c)th0 8mount of the paGey; (d)the property insured, ,, . —�_
<br /> the then curtent replacemeni value of suCh property,and the manner of Qetermining that vaiue;8nd (e)the e�trafion dafe of the poQcy. , , _ _ ''�;;-
<br /> � Tiustor shail,upon request of Lender,tia+re an tnQepende�R apAralser satls(�ctory to Lender determine the cast�vaiue teAtacement cmi ot ths • �::�
<br /> • . ' � Property. . � -
<br /> • � � =�.`: ptP�tpITURES BY L,@IDER. H Trustor fNls to comp{y witA any proNSton o!th(s Deed ot Tnut.or H arry actlon or proceeding(s commen�ed tkat `'� �,
<br /> ' ' would matertatly aftect Lenders interests in the Property,Lender on Trustors behal}may,but shall nat be�equfred to,�ke any aetion thet Lender a�,�
<br /> deems appropdate. My amount thai Lender expenQs In so doing wfil bear Interest at the rat�provided tar in the Note f�om the date incurred a pa10 ��--
<br /> ' by Lender to the date ol repayment by Tn�stor. AU such expenses,at Lender's optlon,w�l (a)ba payabte on demand. (b)be addad b tt►s b8iance .- :y�_'
<br /> ' � ' 01 the Note and be apDOrtlaned among and be payrabte witb any instaltmant payments to bec�ne due during either p)the term o!8rry epD9cabie : .-.��..�,.
<br /> �% �� insuranee poticy or (U)the remaining term ot the Note.or (o)be treated as a bal(oon paymen!whtch wm be due and payable at tRe Not9's matur(ty. . •�..';�,�;�_
<br /> � Thls Deed ot Trust atso w(ll sacure payment of ih�e amounts.TAe Aghta provided for in this paragrapA sha11681�addUon to 8ny ather Aghb or arry � _°_•
<br /> , , remedles to which Lender may be entitled on account ot the default My such actlon by Lender shetl not be construed as curing the default so es to .,:,��;_'
<br /> bar Lender(rom any remedy that it otherwise woufd have had. �� ,r.:�...:.,�"
<br /> ' , WARRANTV;OEFFJ7SE OF TtilE.The totfowing provtsfons relatlng to ownership of the Properly are a parl o�thls Deed of Trusb . . . � ."�:
<br /> � Tltte. Trustor wartants that (a)Trustor hotds good and maAcetabte Utte of record to the Property in fee slmpte,fcee and dear of ail tlens anC , , � �'°
<br /> � �, j� encumbrano�oiher than those set fortA in the Real Prcperly descdpttan or in arry Utte insurance policy.GOe repoA.or fisal titb oplNon issued in ��'
<br /> tavor of,and acoepied by.Lender In connecNOn wfth this Oeed ot Trust,end (b)Trustor has Ihe full dght,power,and authodty to euecute and •=��•-���•:
<br /> � deliver this Deed of Trust to Lender. • �
<br /> � � Defense of Tqte. SubJect to ihe exception in the paragrapA above,Ttustor warrants and wtU torever detend ihe UUe to the PropeRy ageinsl the . � . � . ,
<br /> ' � . • tewtut dalms ol all persons. In the event any action or prcceeding is commenced thaf quesdons Ttustors title or the Interest of Tiusiee ar ,
<br /> Lender under thts Deed of Tnut,Trustor shall defend the aoUon at Trustofs expense. Trustar may be the nominai party tn such Droceeding,bul ;::_,.:.. .. �
<br /> Lender shalf ba entitted to paAicipate in the proceeding and to ba represented in the��oceefing by counsel of Lendefs own cAoioe,and :' •
<br /> � Trustor wiii delWer,or cause to be defrvered,to Lender such Insiruments as LenQer may rsquesf from Ume to time to permN such paNelpaUon • ,
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<br /> Compllnnee With Lawa Trustor wanants that the VropeAy and TrustoPS use ot the PropeAy compiles with all eodsfing appllcab►e Iaws, ,',
<br /> . ordlnances,and regulaUons of govemmental authodUes. � � � . � �
<br /> • • : � CONDEMNATION. The(opowing provlsions retating to condemnation proceedings are a paA of this OeeC ot Trust. �
<br /> Applleatlon ot Net Proceeds. If ail or any paA of the PtopeAy Is condemned by eminent Qomain proceetlings ar Ey any procee�ng or
<br /> � � ` purChese in lieu of conQemneUOn,Lender may at its efectlon require that 811 or eny portion ol fhe net proceeds of the award be epptled to ihe „
<br /> InQek'e��ess or the repair or restoraflon ot the Property. The net proceeds ot the awerd sheil mean the award after payment of ell�oa4onabte
<br /> costs,e�snses,and attorneys'tees Incurted by Trustee or Lender in connecflon wlth the condemnatlon. • . _
<br /> , � � Praceedings. If any prxeeding In condemnaUOn is fited,Trustor sAat promptly noUry Lender in wn::ig,and Trustor shall promptry take such
<br /> steps as may be neeessary to defend the action and obtatn the award. Trustor may be ihe nominal party in such prooeeding,bN Lender shail
<br /> ;�', # be enLUed to pBrtiCipa'a in the proceeding and to be represented In the proCeeding by counsel 01 its own choice,and Trustat vrlll deUver or
<br /> � cause to be de�ivered to Lender such Instruments as m2y bs requested by il from flme to llme to permit such partic�oatlon.
<br /> . � IMPOSITIOM OF TAXES,FEES AND CMARtiES @Y(i�VERNMEtJTAL AUTHORITIES. The to0owing provlstons retaUng to govemmentel texas, t '� �
<br /> ' . � tees and Cherges ere a par!of ihis Oeed o1 Trust: . • .
<br /> -• Curren4 Tmcos,Fess end Charge9. Upon requesf by Lsnder,Tiustor shell executv such documents in addiUOn to thls Oeed ot Trust snd take .
<br /> � whatever other actlon is�equestad by Lender to peAect and contlnue Lenders lien on the Real Properly. Trustor shall reimDutsO Lender fot eD � •
<br /> taxes.as descri6ed betow,together wit�alt expanses Incurted In�ecotding,pertecdng or conUnuing this�eed at Trusl,tnduding�vithoN . �
<br /> ' . Ilmitatlon all taxes,fees,documentary stamps,and other charges tor recording or regtstering this Deed ol Trusl
<br /> . � �nxea The toAOwing shall constitute taxes to whlch this sectlOn applies: (a)e Speciflo tax upon thls type of 0eed o1 Trusf or upon all or eny •
<br /> � pert of tno Indebtednass secured by this Deed of Trush, (b)a speciflc tax on TtustOr whlCh Trustor is authorized or requtred to deduct trom
<br /> paymeni�on the Indebtedness secured by this type of 0eed of Trush, (C)a tex on this typa o}Deed of Trust chargeabte flgainsl the LAnde�a ,
<br /> . � � the halder ol the Note:and (d)a specific tax on atl or any portion of the InOeDtedaess or on payments of pdnclpal and interest made by � . . .
<br /> Trustor. ' •
<br /> � Subsequent Tmcea. If any tax ro wh�ch Ih�s secUOn appties�s enacied subsequent to the date of thts Deed ol Trust.this evant shall hava the � . .'
<br />. � same eHect as an Event ot Defauit Ias defined betow),and Lender may�cercl5e any or ail o}its avadable remedies for an Event of Dei3ult fls [ __ . .
<br /> ' ' provtded beiow untess Trustor edher (a)pays the tax before A bEtomes de6nquent,or(b)cantesis the ta�c as provided above In ihe Taxes and i
<br /> - _ :aen5 SQCtion and depos�s w�th Le�de►cash er A s�dficaAm comoraie surery bond or athsr secunty saUslactory to Lender. _ ___ _..
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