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8k Vol Pq <br />80025567 OPR 71470 7105 <br />11. The term Note includes all extensions and renewals of the Note and all amounts secured <br />by this deed of trust. <br />12. This deed of trust binds, benefits, and may be enforced by the successors in interest of all <br />parties. <br />13. If Grantor and Borrower are not the same person, the term Grantor includes Borrower. <br />14. Grantor and each surety, endorser, and guarantor of the Note waive all demand for <br />payment, presentation for payment, notice of intention to accelerate maturity, notice of <br />acceleration of maturity, protest, and notice of protest, to the extent permitted by law. <br />15. Grantor agrees to pay reasonable attorney's fees, trustee's fees, and court and other costs <br />of enforcing Lender's rights under this deed of trust if this deed of trust is placed in the hands of <br />an attorney for enforcement. <br />16. If any provision of this deed of trust is determined to be invalid or unenforceable, the <br />validity or enforceability of any other provision will not be affected. <br />17. Grantor represents that this deed of trust and the Note are given for the following <br />purposes: to secure Grantor's obligations under that certain Chapter 380 Economic Development <br />Agreement of even date herewith, pursuant to which Grantor has agreed to complete certain <br />Infrastructure Improvements and a New School as those terms are defined and under terms and <br />conditions therein. In consideration of Grantor's obligations under said Chapter 380 Economic <br />Development Agreement, Lender has agreed to loan an amount not to exceed $345,000.00 to <br />finance said Infrastructure Improvements, said loan being evidenced by the Note and secured by <br />this deed of trust. <br />18. Grantor agrees to comply with all terms and conditions of the Chapter 380 Economic <br />Development Agreement referred to in paragraph 17, above. In case of breach by Grantor of the <br />covenants and conditions of said Chapter 380 Economic Development Agreement, Lender, at its <br />option, with or without entry on the Property, may (a) invoke any of the rights or remedies provided <br />therein, (b) accelerate the amounts secured by this deed of trust and invoke the remedies provided <br />in this deed of trust, or (c) do both. <br />GRANTOR: <br />The Master's School of San Marcos, Inc. <br />By: <br />_?Az <br />David McCall, President