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<br />t::: EXECUTED this day of February ,19~. ~
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<br />20. Nothing herein contained shall be so construed Or operate as to require Grantors to pay I~ on the Note or Notes, or any other lia-
<br />bility or debt now existing or herafter to exist heraunder at a rate greater than that allowed by the Laws of the State of Texas, and if eny pro.
<br />visions herein contained do, or would, prasantly or prospectively, operate to make this Deed of Trust or eny part thareof 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 nevertheless 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 cOurts 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 Mortgaged Premises from the
<br />value of the Mortgaged 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 option of the Noteholder, shall Immediately become due, payable and collectible without notice to any party.
<br />
<br />22. If the lien of this Deed of Trust Is Invalid or unenforceable as to any part of the debt, or If the lien Is Invalid or unenforceable as to any
<br />part 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 partially secured portion 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 property 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 Trustea, In enforcing the
<br />terms of the Note and this Deed of Trust, or In any suit to which the Noteholder or Trustee may become a party where the Deed of Trust or
<br />the Mortgaged 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 expensas 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 all 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 property herein described this Daed of Trust shall constitute a Security Agreement between Grantors and
<br />Noteholder, and, cumulative of all other rights of Noteholder hereunder, Noteholder shall hava all of the rights conferred upon secured parties
<br />by the Uniform Commarclal Code, as amended, as to this property. This Deed of Trust, as a Financing Statement, covers the following types of
<br />property: Minerals, crops and gOOds that ere, or are to become, fixtures as mOre fully described herein, and related to the real estate described
<br />herein, and It Is intended that as to those gOOds and the proceeds thereof, this Deed of Trust shall be effective as a Financing Statement filed
<br />as a mineral, crop and fixture filing from the date of its filing for record in the Real Estate Records of the County In which the land is 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 es 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 />erty, In the manner and form required by law end 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 />o,s or on behalf of Grantors. On demand, Grantors will promptly pay all costs and expenses of filing Financing Statements, continuation
<br />statements, partial 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 mey exercise any or all of the ,emedies of a secured party 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, tan (10) 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 court having jurisdiction of the parties and the subject maner 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 withheld), should sell or otherwise dispose of the Mortgaged Premises, or any part 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 (10) 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 said
<br />option may be exercised at any time.
<br />
<br />>>g~~*~XU~iXiX~~X*~~~~~~~~iKiXt1GX*~~.x.x
<br />
<br />undersigned hereby designate
<br />in Harris County, Texas,
<br />
<br />as their homestead, the property
<br />legally described as:
<br />
<br />The
<br />located
<br />
<br />Lots Twenty (20) and
<br />TOWN OF LA PORTE, in Harris
<br />
<br />Seventy-Six
<br />
<br />Twenty-One (2l), Block
<br />County, Texas.
<br />
<br />(76) ,
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