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<br />20.., Nothing herein contained shall be so construed or operate es to require Grantors to pay Interest on the Note or Notes/or anY.i>>ther lIa-
<br />,bllttV1ir debt now existing or herafter to exist hereunder at a rate greater than that allowed by the Lews of the State of Texa;,-:and if?any Pr:o-
<br />'''''""visions ,herein contained do, or would, presently or prospectively, operate to make this Deed of Trust or any part thereof vold~voidable or),il-
<br />effective, then such provisions only shall be held for naught and as'though not herein cor\tained and shall be without effect up...9n.:or~PrejuC\l?e
<br />to the remaining provisions, which shall nevertheless remain operative. Any of said contracts for interest shall be held Subjec;t_~~!redyc,lon:to
<br />the highest amount ellowed under the Usury Laws of the State of TeXaS as now or hereafter construed by courts having jurlsdictiori~ ~ (-) ~;
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<br />21. In the event of the passage after the date of this Instrument of any lew, which deducts 'any lien on the Mortgaged P~~~f;om the
<br />value of the Mortgaged Premises for the purposes of taxation of deeds of trust or debts secured thereby, for state or local pu!.po.~iis~Qr which
<br />law changes the manner of collection of any such texes so as to affect the Interest of the Notet\older, the whole s4m secured b,!-$h~l~strument
<br />with interest thereon, at the option of the Noteholder, shall immediately become due, payable and collectible without notice t~,~ny~,~r.ty.
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<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,es to any
<br />part of the Mortgaged PremiseS, the unsecured or partially secured portion of the debt shall be complately 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 thlit p,ortlon of ttie
<br />debt which Is not secured or fully secured by the lien of this Deed of Trust. '~, .'
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<br />23. Whenever used the singular number shall Include the plural. the pl~r~1 the singular, the use of any gender shall include'all ~~nders. 'T-I:!e
<br />words "Grantors" and "Noteholder" shall include their heirs, executors, administrators, successors and assigns and the word "Trustee" shall in-
<br />clude his successors and substitute trustees. ' . _ " .
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<br />24. Noteholder shall have the right to become the purchaser at all sai.ri 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 tl)en owing. , '
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<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 any suit to which the Noteholder or Trustee may become a party where the Deed of Trust or
<br />the Mortgaged Premises are in eny manner Involved and all. expenses incurred In presenting a claim against the estate of a decedent or e 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 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 end similar matters not otherwise provided for herein.
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<br />26. With respect to any personal property herein described this Deed of Trust shall constitute a Security Agreement batween Grantors and
<br />Noteholder, and, cumulative of all other rights of Noteholder hereunder, Noteholder shall have all of the rights conferred upon secured parties
<br />by the Uniform Commercial COdli;-as-amended, as to this property. This'Oeed of Trust;as a-Financing Statement; covers the following types of
<br />property: Minerals. crops and goods that are, 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 end the proceeds thereof, this Deed of Trust shall be'effectlve as a Financing Statement flied
<br />as a minerai, crop and fixture filing from the dete 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 I)older 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 I Grantors agree, if requested by Noteholder so to do, to execute one or more Financing Statements covering such personal prop-
<br />erty, in the manner and 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, partla' releases and termination statements deemed necessary or appropriate by Noteholder to establish and maintain the validi-
<br />ty and priority of the security Interest o,f 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 remedies 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, ten (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,
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<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 matter prior to com-
<br />mencement of such proceedings under the power of sale herein granted.
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<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 dye 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.
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<br />1m!!f........'I'ifiYi&I.,.,..,-.....".~. .!.u.,..-lFl'T'lRlIWlII' a..u WM.fililc:J.. uu. ~1i'lR'li'iiGFItYiTII... u' "rI'III. l!I!f\.IiIi'I"llWJilftii!l,~J uw_, ,3i8' d~ ,u..u..~:
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<br />o tbe__Rr.QVisJQns Qfg.ar,ag,r,ClRh _5Cc,Lher.eof, _Noteholder
<br />all taxes due on pr ,- ' 'rein be i
<br />every year and that Grantor furn'
<br />January 31 of ery succeeding year thereafter until
<br />o urther force or effect.
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<br />
<br />real]; r""" M.At. _~ J.~
<br />5 of each' and {.i" '~
<br />. ts of same by
<br />this De
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<br />'ibis Deed of Trust shall also be security for any other indebtedness which
<br />Grantor may now or may hereinafter owe to Noteholder, and shall also be security
<br />for any notes, drafts, accounts or debts of whatsoever kind, by purchase as an
<br />assignee thereof, or otherwise, and for all future advances during the life of
<br />this Trust.
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<br />FILED FOR RECORD
<br />8:30 A.M.
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<br />APR 2 8 1989
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<br />'- - -- County-Clerk; 'Hlms-CouQty,JeXas ~- --
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<br />EXECUTED this lOth day of
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<br />1\pril
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<br />,19--8..9...-.
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<br />BY: ~...,~
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