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<br />covering such personal property, in the manner and form required by law and to the satisfaction of Noteholder. Grantors
<br />agree to pay Noteholder's charge, to the maximum amount permitted by law, for any statement by Noteholder regarding
<br />the obligations secured by this Deed of Trust, requested by Grantors or on behalf of Grantors. On demand, Grantors will
<br />promptly pay all costs and expenses of filing Financing Statements, continuation statements, partial releases and
<br />termination statements deemed necessary or appropriate by Noteholder to establish and maintain the validity and priority
<br />of the security interest of Noteholder or any modification thereof, and all costs and expenses of any searches reasonably
<br />required by Noteholder may exercise any or all of the remedies of a secured party available to it under the Uniform
<br />Commercial Code, as amended, with respect to such personal property, and it is expressly agreed that if upon default
<br />Noteholder should proceed to dispose ofthe collateral in accordance with the provisions ofthe Uniform Commercial Code,
<br />as amended, ten (10) days notice by Noteholder to Grantors shall be deemed to be reasonable notice under any provision
<br />ofthe Uniform Commercial Code, as amended, requiring such notice; provided, however, that Noteholder may at its option
<br />dispose of the collateral in accordance with Noteholder's rights and remedies in respect of the real property pursuant to
<br />the provisions of this Deed of Trust, in lieu of proceeding under the Uniform Commercial Code, as amended.
<br />27. Grantors, upon the execution and delivery of this Deed of Trust and the Note hereby secured, were informed
<br />that Paragraph 13 hereof grants a power of sale and provided for summary foreclosure procedure at the election of the
<br />Noteholder in event of default. As a condition precedent to obtaining the loan represented by the Note hereby secured,
<br />Grantors specifically waive the right to procedural due process, i.e. notice and opportunity to be heard in a judicial
<br />proceeding in a court having j urisdiction of the parties and the subject matter prior to commencement of such proceedings
<br />under the power of sale herein granted.
<br />28. In the event Grantors, or any owner ofthe Mortgage Premises, without first obtaining approval ofNoteholder
<br />(which approval shall not be unreasonably withheld), should sell or otherwise dispose of the Mortgaged Premises, or any
<br />part thereof, at any time before this Deed of Trust is fully released and discharged, Noteholder shall have the option to
<br />declare the indebtedness hereby secured due and payable and if the same is not paid w ithin ten (10) days after the same
<br />is declared due and payable, Noteholder may request the Trustee to commence foreclosure proceedings as hereinbefore
<br />provided in Paragraph 13, or may commence any other action authorized by this Deed of Trust to enforce the liens herein
<br />given. Failure to exercise this option shall not be considered as a waiver of the rights conferred in this Paragraph 28, but
<br />said option may be exercised at any time.
<br />29. The indebtedness, the payment of which is hereby secured, is in part payment of the purchase price of the
<br />property herein described, and is also secured by a vendor's lien retained in deed of even date herewith to the undersigned,
<br />and this deed of trust is given as additional security for the payment of said indebtedness.
<br />30. T'he lien created by this deed of trust is subordinate to the lien securing the unpaid balance of a prior
<br />promissory note as follows:
<br />(1) One note in the original principal amount of FIFTY THOUSAND AND 00/100DOLLARS ($50,000.00),
<br />dated February 22, 1995, and executed by Charles W. Keys, described in and secured by a Deed of Trust
<br />recorded at Volume 506, Page 305, Real Property Records of Lamar County, Texas; and (2) one note in the
<br />original principal amount ofTHIRT'Y-EIGHT THOUSAND SEVEN HUNDRED ONE AND 68/100 DOLLARS
<br />($38,701.68), dated August 10, 1999, and executed by Charles W. Keys, described in and secured by a Deed of
<br />Trust recorded at Volume 901, Page 316 of the Real Property Records of Lamar County, Texas.
<br />Grantor in this Deed of Trust has not assumed payment of the prior note, but Beneficiary is obligated to pay it according
<br />to its terms. The Warranty Deed with Vendor's Lien referred to above provides that in the of event default in payment of
<br />the prior note, Grantor shall have the right to cure any such default as long as Grantor is not in default in payment of the
<br />wraparound lien note in the original principal sum of $145,000.00 secured in part by this instrument or in default in
<br />performance of the covenants of this instrument. If Grantor cures a default in payment of the prior note, Grantor may
<br />receive credit on the wraparound lien note secured in part by this instrument for all amounts so paid as of the date of the
<br />payment, in the manner that Grantor directs.
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