16, 17 & 18 Disannexation - Laserfiche WebLink

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e 1-: V 4---j i F• ~g i:jrl0 1. 12 3 7 0 F; :L 4'?Ci 265 to foreclose this Deed of Trust, either on any mature portion of the debt or for the whole debt, shali never be considered an election so as to preciude foreclosure under the power of sale after a dismissai of the suit; nor shall the filing of the necessary notices for foreclosure, as provided in this Deed of Trust, preclude the prosecution of a later suit thereon. 19. Any sale ofthe Mortgaged Premises under this Deed of Trust shall, without further notice, create the relation of landlord and tenant at sufferance between the purchaser and Grantors or any person holding possession of the Mortgages Premises through Grantors, and upon failure of Grantors or such person to surrender possession thereof immediately, Grantors or such person may be removed by a writ of possession of the purchaser, either in the Justice Court having venue or in any other Court hereafter having venue. 20. Nothing herein contained shall be so construed or operate as to require Grantors to pay interest on the Note or Notes, or any other liability or debt now existing or hereafter to exist hereunder at a rate greater than that allowed by the Laws of the State of Texas, and if any provisions herein contained do, or would, presently or prospectively, operate to make this Deed of Trust or any part thereof void, voidable or ineffective, then such provisions only shall be held for naught and as though not herein contained and shall be without effect upon or prejudice to the remaining provisions, which shall nevertheless remain operative. Any of said contract for interest shall be held subject to reduction to the highest amount allowed under the Usury Laws of the State of Texas as now or hereafter construed by courts having jurisdiction. 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 value of the Mortgaged Premises for the purposes of taxation of deeds of trust or debts secured thereby, for state or locai purposes, or which 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 with interest thereon, at the option of the Noteholder, shall immediately become due, payable and collectible without notice to any party. 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 part of the Mortgaged Premises, the unsecured or partially secured portion of the debt shatl be completely paid prior to the payment of the remaining and secured or partially secured portion of the debt, and all payments made on the debt, whether voluntary or under foreclosure or 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 debt which is not secured or fully secured by the lien of this Deed of Trust. 23. Whenever used the singular number shall include the plural, the plural the singular, the use of any gender shall include all genders. The words "Grantors" and "Noteholder" shall include their heirs, executors, administrators, successors and assigns and the word "Trustee" shall include his successors and substitute trustees. 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 amount for which such property is sold credited on the debt then owing. 25. Grantors will pay all reasonable attomey's fees and expenses which may be incurred by the Noteholder or Trustee, in enforcing the 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 the Mortgaged Premises are in any manner involved and all expenses incurred in presenting a claim against the estate of a decedent or a bankrupt and wil) also pay any attorney's fees and expenses reasonably incurred in connection with the assignment to Noteholder of any leases subsequently entered into by Grantors which by the terms hereof are required to be assigned to Noteholder as additional collateral to secure payment of the indebtedness herein secured as well as any and all such fees and expenses reasonably incurred prior to full and final payment of such indebtedness relating to fu►.ure advances, transfer of title to the premises and similar matters not otherwise provided for herein. 26. With respect to any personal property herein described this Deed of Trust shall constitute a Security Agreement between Grantors and Noteholder, and, cumulative ofall other rights ofNoteholder hereunder, Noteholder shall have all of the rights conferred upon secured parties by the Uniform Commercial Code, as amended, as to this property. This Deed of Trust, as a Financing Statement covers the following types of property: Minerals, crops and goods that are, or are to become, fixtures as more fully described herein, and related to the real estate described 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 as mineral, crop and fixture filing from the date of its filing for it is intended that as to those goods and proceeds thereof, this Deed of Trust shall be effective as a Financing Statement filed as a mineral, crop and fixture filing from the date of its filing for record in the Reai Estate Records ofthe County in which the land is located. Information concerning the security interest created by this instrument may be obtained from the holder ofthe indebtedness and secured party 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 satisfied of record, Grantors agree, if requested by Noteholder so to do, to execute one or more Financing Statements 6 ~ u«U1.1~~