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<br />.. <br /> <br />. <br /> <br />- <br />- <br /> <br />I; <br />t: <br />~ <br />II <br />II <br />\'i <br />~ <br />t-l <br />~ <br />~ <br />~ <br />~] <br />~ <br />.~ <br />~ <br />~ <br />t-f <br />f) <br />~:': <br />i <br />"I <br />Ii <br />.~ <br />II <br />rl <br />r. <br />:--! <br />~] <br />" <br />::, <br />~ <br />~.l <br />~ <br />r <br />~ <br />t.l <br />~ <br />~:i <br />:"i <br />~ <br />t1j <br />:~ <br />~ <br />~l <br />fA <br />~ <br />L:. <br />~i <br />~ <br />fl. <br />'~ <br />l1i <br />r <br />~ <br /> <br />1'1 <br /> <br />.~' ~ <br />r rl <br />!..; <br />~j~,.._ .G, <br />f.! {-j <br />~ 0 <br /> <br />~ ~ <br />~- ~ <br />J ~ <br />-~ ~ <br /> <br />I EXECUTED.... do,.. Februar~ . ,.~. ~}! <br />,f ~ <br />~ :~s ~ . w~E:~E:::ERSON ~ <br />ft ~ <br />.Iu 1.1 <br />.Il <br />1 .' <br />i;i t. <br />L~ .... -~~~~~~:-r.-::::--"=C.:Z -.";.,, '--.;;:r ...... .,-~_-.....::.. '-~7.i""~=-~.L:~S!::':L .....~ ...",-:::T:.-::r:--ero.~..-"!"~.=\..~:f.:~_~::(.:"""Ia'~:.\:-7_~_~...f--"'-~:.__.. <br /> <br />l' <br />" <br />L <br />'. <br />~.I <br />~ <br />I~ <br />~ <br />i <br />I <br />I <br />'I. <br />! <br />~ <br />I~ <br />;to <br />! <br />~ <br />~ <br />~ <br />"~ <br />:~ <br />:f <br /> <br />.~ <br />;~' <br />~ <br />J~ <br />~ <br />i <br />.~ <br />.~ <br />i~ <br />~~ <br />;1 <br /> <br />20, Nothing herein contained shall be so construed Or operate as to require Grantors to pay interest on the Note or Notes, or any other lia- <br />bility or debt now existing or herafter to exist hereunder at a rate greater than that allowed by the Laws of the State of Texas, and If any pro- <br />visions herein contained do, or would, presently or prospectively, operate to make this Deed of Trust or any pan thereof void, voidable or In- <br />effective, then such provisions only shall be held for naught and as though not herein corltalned and shall be without effect upon or prejudice <br />to the remaining provisions, which shall nevenheless remain operative, Any of said contracts for Interest shall be held subject to reduction to <br />the highest amount allowed under the Usury Laws of the State of Texas as now or hereafter construed by couns having Jurisdiction, <br /> <br />21, In the event of the passage after the date of this Instrument of any law, which deducts any lien on the Mongaged Premises from the <br />value of the Mongaged Premises for the purposes of taxation of deeds of trust or debts secured thereby, for state or local purposes, or which <br />law changes the manner of collection of any such taxes so as to affect the Interest of the Noteholder, the whole sum secured by this Instrument <br />with interest thereon, at the opti~n of the Noteholder, shall Immediately become due, payable and collectible without notice to any party. <br /> <br />22, If the lien of this Oeed of Trust Is Invalid or unenforceable as to any part of the debt, or If the lien Is invalid or unenforceable es to any <br />pan of the Mortgaged Premises, the unsecured or partially secured portion of the debt shall be completely paid prior to the payment of the re- <br />maining and secured or panially secured ponlon of the debt, and all payments made on the debt, whether voluntary or under foreclosure or <br />other enforcement action or procedure, shall be considered to have been first paid on and applied to the full payment of that portion of the <br />debt which is not secured or fully secured by the lien of this Deed of Trust, <br /> <br />23, Whenever used the singular number shall Include the plural, the plural the singular, the use of any gender shall Include all genders, The <br />words "Grantors" and "Noteholder" shall Include their heirs, executors, administrators, successors and assigns and the word "Trustee" shall In- <br />cl ude his successors and substitute trustees, <br /> <br />24, Noteholder shall have the right to become the purchaser at all sales to enforce this trust, being the highest bidder, and to have the a. <br />mount for which such propeny is sold credited on the debt then owing, <br /> <br />25, Grantors will pay all reasonable attorney's fees and expenses which may be incurred by the Noteholder or Trustee, in enforcing the <br />terms of, the Note and this Deed of Trust, or In eny suit to which the Noteholder or Trustee may become a pany where the Deed of Trust or <br />the Mongaged Premises are In any manner involved and all expenses Incurred In presenting a claim against the estate of a decedent or a bank- <br />rupt and will also pay any attorney's fees and expenses reasonably incurred In connection with the assignment to Noteholder of any leases <br />subsequently entered Into by Grantors which by the terms hereof are required to be assigned to Noteholder as additional collateral to secure <br />payment of the Indebtedness herein secured as well as any and ell such fees and expenses reasonably Incurred prior to full and final payment <br />of such Indebtedness relating to future advances, transfer of title to the premises and similar matters not otherwise provided for herein, <br /> <br />26, With respect to any personal proparty herein described this Deed of Trust shall constitute a Security Agreement between Grantors and <br />Noteholder, and, cumulative of all other rights of Noteholder hereunder, Noteholder shall have all of the rights conferred upon secured panies <br />by the Uniform Commercial Code, as amended, as to this propeny, Thls,Deed of Trust, as a Financing Statement, covers the following types of <br />propeny: Minerals, crops and goOds that are, or are to become, fixtures as more fully described herein, and releted to the real estate described <br />herein, end it Is intended that as to those goods and the proceeds thereof, this Deed of Trust shall be effective as a Financing Statement flied <br />as a minerai, crop and fixture filing from the date of its filing for record in the Real Estate Records of the County In which the lanells located, <br />Information concerning the security Interest created by this Instrument may be obtained from the holder of the Indebtedness and secured par- <br />ty at the Post Office address as shown In Paragraph numbered 1 of this Deed of Trust, Until the lien of this Deed of Trust Is released or satis- <br />fied of record, Grantors agree, if requested by Noteholder so to do, to execute one or more Financing Stetements covering such personal prop- <br />eny, In the manner end form required by law and to the satisfaction of Noteholder, Grantors agree to pay Noteholder's charge, to the maxi- <br />mum amount permitted by law, for any statement by Noteholder regarding the Obligations secured by this Deed of Trust, requested by Grant- <br />ors or on behalf of Grantors, On demand, Grantors will promptly pay all costs and expenses of filing Financing Statements, continuation <br />statements, panlal releases and termination statements deemed necessary or appropriate by Noteholder to establish and maintain the validi. <br />ty and priority of the security Interest of Noteholder or any modification thereof, and all costs and expenses of any searches reasonably re- <br />quired by Noteholder, Noteholder may exercise any or all of the remedies of a secured pany available to it under the Uniform Commercial <br />Code, as amended, with respect to such personal property, and It Is expressly agreed that If upon default Noteholder should proceed to dispose <br />of the collateral In accordance with the provisions of the Uniform Commercial Code, as amended, ten (101 days notice by Noteholder to <br />Grantors shall be deemed to be reasonable notice under any provision of the Uniform Commercial Code, as amended, requiring such notice; <br />provided, however, that Noteholder may at its option dispose of the collateral In accordance with Noteholder's rights and remedies in respect <br />of the real property pursuant to the provisions of this Deed of Trust, in lieu of proceeding under the Uniform Commercial Code, as amended. <br /> <br />27, Grantors, upon execution and delivery of this Deed of Trust and the Note hereby secured, were Informed that Paragraph 13 hereof <br />grants a power of sale and provides for summary foreclosure procedure at the election of the Noteholder In event of default, As a condition <br />precedent to obtaining the loan represented by the Note hereby secured, Grantors specifically waive the right to procedural due process, I,e, <br />notice and opportunity to be heard in a JUdicial proceeding In a coun having jurisdiction of the panies and the subject matter prior to com- <br />mencement of such proceedings under the power of sale herein granted, <br /> <br />28, In the event Grantors, or any owner of the Mortgaged Premises, without first obtaining approval of Noteholder (which approval shall not <br />be unreasonably wlthheldl, should sell or otherwise dispose of the Mongaged Premises, or any pan thereof, at'any time before this Deed of <br />Trust Is fully released and discharged, Noteholder shall have the OPtion to declare the Indebtedness hereby secured due and payable and If the <br />same Is not paid within ten (101 days after the same is declared due and payable, Noteholder may request the Trustee to commence foreclo- <br />sure proceedings as hereinbefore provided In Paragraph 13, or may commence any other action authorized by this Deed of Trust to enforce <br />the liens herein given, Failure to exercise this option shall not be considered as a waiver of the rights conferred in this Paragraph 28, but seld <br />option may be exercised at any time, <br /> <br />XQ{XKeXl>>KJR{lltXKe>>x-MtoKH~HKJflX~~XXI}{XcK>>~HD{~~!KXMIiX*~~~r}HO{~i)iXH~~:X <br /> <br />The undersigned hereby designate as their homestead , the property <br />located in Harris County, Texas, legally described as: <br /> <br />Lot Five (5), Block Two <br />in Harris County, Texas. <br /> <br />(2) , <br /> <br />OAKHURST ADDITION, <br />