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Pk Vol Ps <br />830025567 OPR 3470 304 <br />5. If any portion of the Note cannot be lawfully secured by this deed of trust, payments will <br />be applied first to discharge that portion. <br />6. Grantor assigns to Lender all amounts payable to or received by Borrower from <br />condemnation of all or part of the Property, from private sale in lieu of condemnation, and from <br />damages caused by public works or construction on or near the Property. After deducting any <br />expenses incurred, including attorney's fees and court and other costs, Lender will either release <br />any remaining amounts to Grantor or apply such amounts to reduce the Note. Lender will not be <br />liable for failure to collect or to exercise diligence in collecting any such amounts. Grantor will <br />immediately give Lender notice of any actual or threatened proceedings for condemnation of all <br />or part of the Property. <br />7. Grantor assigns to bender absolutely, not only as collateral, all present and future rent and <br />other income and receipts from the Property. Grantor warrants the validity and enforceability of <br />the assignment. Grantor may as Lender's licensee collect rent and other income and receipts as <br />long as Grantor is not in default under the Note or this deed of trust. Grantor will apply all rent <br />and other income and receipts to payment of the Note and performance of this deed of trust, but <br />if the rent and other income and receipts exceed the amount due under the Note and deed of trust, <br />Grantor may retain the excess. If Grantor defaults in payment of the Note or performance of this <br />deed of trust, Lender may terminate Grantor's license to collect rent and other income and then as <br />Grantor's agent may rent the Property and collect all rent and, other income and receipts. Lender <br />neither has nor assumes any obligations as lessor or landlord with respect to any occupant of the <br />Property. Lender may exercise Lender's rights and remedies under this paragraph without taking <br />possession of the Property. Lender will apply all rent and other income and receipts collected <br />under this paragraph first to expenses incurred in exercising Lender's rights and remedies and <br />then to Grantor's obligations under the Note and this deed of trust in the order determined by <br />Lender. Lender is not required to act under this paragraph, and acting under this paragraph does <br />not waive any of Lender's other rights or remedies. If Grantor becomes a voluntary or involuntary <br />debtor in bankruptcy, Lender's filing a proof of claim in bankruptcy will be deemed equivalent to <br />the appointment of a receiver under Texas law. <br />8. Interest on the debt secured by this deed of trust will not exceed the maximum amount of <br />nonusurious interest that may be contracted for, taken, reserved, charged, or received under law. <br />Any interest in excess of that maximum amount will be credited on the principal of the debt or, if <br />that has been paid, refunded. On any acceleration or required or permitted prepayment, any such <br />excess will be canceled automatically as of the acceleration or prepayment or, if already paid, <br />credited on the principal of the debt or, if the principal of the debt has been paid, refunded. This <br />provision overrides any conflicting provisions in this and all other instruments concerning the <br />debt. <br />9. In no event may this deed of trust secure payment of any debt subject to chapters 342, <br />343, 345, or 346 of the Texas Finance Code or create a lien otherwise prohibited by law. <br />10. When the context requires, singular nouns and pronouns include the plural.