01-20-11 Regular Meeting and Public Hearing of the La Porte Planning and Zoning Commission

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3. If this is not a first lien, pay all prior liens and abide by all prior lien instruments; 4. Comply at all times with the terms of any restrictive covenants applicable to the Property 5. Provide such [mandaI reports and other documents as Beneficiary may from time to time request in order to assure that the Property is in compliance with this Deed of Trust and the Environmental Agreement. BENEFICIARY'S RIGHTS 1. Beneficiary may appoint in writing a substitute or successor trustee, succeeding to all rights and responsibilities of Trustee. 2. If Grantor fails to perform any obligations, Beneficiary may perform those obligations and be reimbursed by the Grantor on demand at Beneficiary's address for any sums so paid, including attorney's fees, plus interest at 10 percent per annum. The sum to be reimbursed shall be secured by this Deed of Trust. 3. An Event of Default shall occur if Grentar fails to perform any of Grantor's obligations on this Deed of Trust or if Grantor fails to perform any obligation under the Environmental Agreement or if default occurs on a prior lien note or other instrument or any other written agreement between Beneficiary and Grantor. 4. If an Event of Default occurs Beneficiary will before exercising any of its remedies under this Deed of Trust first give notice of such Event of Default to Grantor and Grantor will have thirty (30) days after notice is given to cure the default, provided however if an Event Of Default occurs which Beneficiary determines to constitute a serious immediate threat to the environment or the health and safety of individuals then Beneficiary may take such actions as it determines to be necessary to abate such threat and the reasonable and necessary cost of such remedial actions shall be paid by Grantor to Beneficiary upon demand. Beneficiary may, in its discretion, grant Grantor additional periods of time to cure a non-monetary Event of Default if Beneficiary determines that Grantor has with all reasonable diligence taken action to cure such non-monetary Event of Default within the 30 day period and that an additional period of time is reasonable and necessary. 5. The Notice of Default shall provide a good faith estimate of monetary damages, if any, that Beneficiary may suffer as a result of such default. Monetary damages shall include but not be limited to all reasonable and necessary expenses, attorney's fees, fines, penalties, interest, witness fees, expert fees and other damages incurred or reasonably anticipated to be incurred by Beneficiary as a result of such Event of Default. If Grantor fails to pay such good faith estimate of monetary damages to Beneficiary within 30 days after the Notice of Default is given then Beneficiary may: a. request Trustee to foreclose this lien, in which case Beneficiary or Beneficiary's agent shall give notice of the foreclosure sale as provided by the Texas Property Code as then amended; and b. purchase the Property at any foreclosure sale by offering the highest bid and then have the bid credited on any sums owed Beneficiary. Notice of Default under this Deed of Trust or any other instrument secured by it must be in writing and must be sent by United States certified or registered mail, postage fully prepaid, return receipt requested, or by Federal Express or a similar nationally recognized overnight courier service, or by facsimile with a confmnation copy delivered by a nationally recognized overnight courier service. The Addresses for proper notice under this Deed of Trust are set forth on the first page of this Deed of Trust. Either party may from time to time by written notice designate a different address to the other party; however, such written notice of different address shall not be effective until fifteen (15) days following its receipt. 06RPDO083 laPorte Deed ofTrust 3