Laserfiche WebLink
6. Grantor assigns to Beneficiary all sums payable to or received by Grantor from condemnation Of <br />all or part of the property, ftorn private sale *in lieu of condemnation, and from damages caused by public <br />works or construction on or near the property. After deducting any expenses incurred, including attorney's <br />(ees, Beneficiary may release any remaining sums to Grantor or apply such sums to reduce the Note. <br />[1-zirieficiary shall not be liable for failure to collect or to exercise diligence in collecting any suo sums. <br />7, Grantor assigns to Beneficiary absolutely, not only as collateral, all present and future rent and <br />other income and receipts from the property. Leases are not assigned. Grantor warrants the validity and <br />enforceability of the assigmnent. Grantor may, as Beneficiary's licensee, collect rent and other income and <br />receipts as long as Grantor is not in default under the Note or this Deed of Trust. Grantor will apply all rent <br />I FUR <br />we <br />nelictary-s rignis anu remeates <br />the order determined by Beneficiary, Beneficiary is not required to act under this paragraph, and acting <br />under this paragraph does not waive any of Beneficiary's other rights or remedies. If Grantor becomes a <br />voluntary or involuntary bankrupt, Beneficiarys filing a proof of claim in bankruptcy will be tantamount to <br />the appointment of a receiver under Texas law. <br />S. Interest on the debt secured by this Deed of Trust shall not exceed the maximum amount of <br />)re cta IMUM mbUW-,,mxr rtctMV.-1-Undar--1a-W--AQN interest <br />in excess of that maximum amount shall be credited on the principal of the debt or, if that has been paid, <br />refunded, On any acceleration or required or permitted prepayment; any such excess shall be canceled <br />automatically as of the acceleration or prepayment or, if already paid, credited on the principal of the debt <br />or, if the principal of the debt has been paid, refunded, This provision overrides other provisions in this and <br />all other instruments conceming the debt. <br />11. This Deed of Trust shall bind, inure to the benefit of, and be exercised by successors in interest <br />of all parties. <br />Mr,M,FT,J-WIIIIIIIIIIrIII1!I III 111111111 121 �' �.� <br />13. In the event of any sale, either judicial or voluntary, of the property above described or any part <br />thereof, the Beneficiary shall have the right, at Beneary's option, to declare the entire indebtedness <br />hereby secured due and payable immediately. In the alternative, Beneficiary may allow the purchasers to <br />assume and become personally liable for the payment of the indebtedness secured by this Deed of Trust. <br />Deed of TruBt <br />Page 5 <br />