2007-IDA-131 Clark Freight Lines Inc

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WARRANTY DEED WITH VENDOR'S LIEN IN FAVOR OF MORTGAGEE NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. THE STATE OF TEXAS COUNTY -OF HARRIS THAT THE UNDERSIGNED, THOMAS C. BEDFORD, a married man, not joined herein by his spouse as the property described herein constitutes no part of their business or residential homestead, (herein called "Grantor"), for and in consideration of the sum of $10.00 cash and other good and valuable consideration to Grantor in hand paid by CLARK FREIGHT LINES, INC., a Texas corporation (herein called "Grantee"), whose address is 5129 PINE AVENUE; PASADENA, TEXAS 77503-3730, the receipt of which is hereby acknowledged, and of further consideration of the execution and delivery by Grantee of that one certain Promissory Note of even date herewith, in the principal sum of THREE HUNDRED TWENTY THOUSAND AND NO/100 ($320,000.00) DOLLARS (herein called the "Note"), payable to the order of CAPITAL BANK (herein called "Mortgagee"), bearing interest from date at the rate specified, and containing provisions for attorney's fees, Mortgagee, at the special instance and request of the Grantee, advanced the sum of said Note as part purchase price for The Land herein conveyed, the receipt of which is hereby acknowledged, Mortgagee is hereby subrogated to all of the rights of Grantor herein; the Vendor's Lien and superior title is hereby expressly transferred to and retained in favor of Mortgagee to secure the payment of the Note, the same as if Mortgagee was the Grantor herein; the Note is further and additionally secured by a Deed of Trust of even date herewith from Grantee to PAUL E. MAAZ, TRUSTEE, containing provisions for foreclosure under power of sale, to which reference is here made for all purposes; " HAVE GRANTED, SOLD AND CONVEYED, and by these presents do GRANT, SELL AND CONVEY unto Grantee all that certain tract or parcel of land and all improvements located thereon (herein called "The Land"), more Particularly described as follows: L9170 ACRES OF LAND (CALLED 1.9217); BEING OUT OF THAT MRS. J. W. COPELAND 6.2404 ACRE TRACT IN THE ENOCH BRINSON LEAGUE, A-5, HARRIS COUNTY, TEXAS; SAID 1.9170 ACRES OF LAND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS ON EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. The conveyance is made and accepted subject to the following matters, but only to the extent they are in effect at this time and only to the extent that they relate to The Land: The lien for current ad valorem taxes and maintenance assessments (if any) not in default, land use restrictions, deed restrictions, covenants, easements, outstanding mineral reservations, rights and royalties, if any, shown of record in the above mentioned county and state, and to all zoning laws, regulations and ordinances of municipal and/or other governmental authorities, if any, to which The Land is subject. To have and to hold The Land together with all rights and appurtenances thereto in anywise belonging, subject to the foregoing terms, unto Grantee their heirs, executors, administrators, personal and legal representatives, successors and assigns forever,.and Grantor does hereby bind themselves, their heirs, executors, administrators, personal and legal representatives,`successors and assigns to warrant and forever defend The Land, subject to the foregoing terms, unto Grantee; their- heirs, executors, administrators, personal and legal representatives, successors and assigns, against every person and entity whomsoever lawfully claiming or to claim the same or any part thereof. I3UT IT IS EXPRESSLY AGREED AND STIPULATED that the VENDOR'S LIEN, including the SUPERIOR TITLE, is retained against The Land in favor of Mortgagee, its successors and assigns, until the Note and all accrued interest thereon, and all renewals and/or extensions thereof, together with all interest thereon, is fully paid according to its face and tenor, effect and reading, and together with all additional sums which may become due and payable by the terms of said Note and/or by the terms of the aforesaid Deed of Trust, when this Deed shaii become absolute, and Grantor herein transfers unto said Mortgagee, its successors and assigns, the Vendor's Lien and Superior Title to The Land, in the same manner and to the same extent as if the Note had been payable to the order of Grantor and by said Grantor assigned to said Mortgagee without recourse. Whenever used in this document, unless the context clearly indicates a contrary intent or unless otherwise specifically provided herein, the pronouns of any gender shall include the other genders, including the neuter, and either Vie singular or plural shall include the other.