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HomeMy WebLinkAboutDeed of trust I l BILL & RETURN TO: 3 jC i RAZOS 4112 4058 08 10748 262 CiF# Aral 1 LX� DEED OF TRUST SECURITY AGREEMENT FINANCING STATEMENT NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF, THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT 18 FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. Date: June 21, 2012 Grantor: AGGIB SHACKS, LLC a Texas limited liability company Grantor's Mailing Address: 1113 Langford Street College Station, Texas 77840 Brazos County Trustee: PATRICIA B. MERONOPF Trustee's Mailing Address: 4343 Carter Creek Pkwy., Suito 100 Bryan, Texas 77802 Brazos County Beneficiary: EXTRACO BANKS, N.A. Beneficiary's Mailing Address: 2706 South Texas Avenue Bryan, Texas 77802 Brazos County Note(s) Date: Juno 21, 2012 Amount: $148,000.00 Maker: AGGIB SHACKS, LLC, a Texas limited liability company Payee: BXTRACO BANKS, N.A., a National Banking Association Final Maturity Date: Junc 21, 2013 Terms of Payment: As provided therein. Deed of TN* Scarily Agreement MincingSbdmroot • Grantor - 1- Ur,rbgb bryd 4n�/J • Oac Bk dol w I 01124058 OR 10748 263 Property (including any improvements): Being a tract of land contained 0.4580 acre, more or less, tying and being situated in the MOROAN RECTOR LEAGUE, A-46, College Station, Brazos County, Texas. Being the same tract of land as recorded in Volume 133, page 727, Deed Records of Brazos County, Texas, and save and except that tract recorded in Volume 3667, page 175, Official Records of Brazos County, Texas, and being called to be out of the Richards • Addition to the City of College Station, as recorded in Volume 137, page 25, Deed Records of Brazos County, Texas, and being more particularly described as follows: BEGINNING at a 5/8" iron rod found with a yellow faded plastic cap marked "KERR RPLS 4502" for the east comer of this tract, also being the south comer of the Willie A. • Steen mect, as recorded in Volume 825, page 90, Official Records of Brazos County, Texas, and being on the northwest line of the Mancuso Investment, Ltd., CVM Addition, Lot 1, Block 1, as recorded In Volume 5885, page 98, Official Records of Brazos County, Texas; • THENCE South 41° 45' 21" West, a distance o feet along the common line between this tract and said Lot t to a 5/8" iron rod . . with an aluminum cap marked "TXDOT ROW MARKER" for the south comer of this tract, also being the west corner of said Lot 1, also being on the northeast right of way line of Texas Avenue South (measured approximate 130' R.O.W.); THENCE North 49° 28' 28" West, a distance of 88.91 feet along the common line between this tract and said Texas Avenue South to a 1/2" iron rod with a maroon plastic cap marked "RPLS 6132 -ATM SURV" set for a west corner of this tract; THENCE North 4° 25' 10" West, a distance of 21.37 feet along the common line between this tract and said right of way line of Texas Avenue South to a 1/2" iron rod with a maroon plastic cap marked "RPLS 6132 - ATM SURV" set for a west corner of this tract, also being at the intersection of said Texas Avenue South, and the southeast line of Sterling Street (25' R.O.W.); Unt.Oi, bred tn,l s THENCE North 41° 48' 03" East, a distance of 178.48 feet along the common line i between this tract and said right of way lira of Sterling Street to a 1/2 " iron rod with a maroon plastic cap marked "RPLS 6132 - ATM SURV" set for the north corner of this tract, also being the west corner of said Steen tract, from which a 5/8" iron rod found with a yellow plastic cap marked "KERR RPLS 4502" boars N 58° 50' 54" W at a distance of 2.16 feet; THENCE South 48° 17' 03" East, a distance of 104.17 feet along the common line between this tract and said Steen tract to the PLACE OF BEGINNING, containing 0.4580 acres of land, more or less. TOGETHER WITII, all buildings, improvements and fixtures located or subsequently erected on or affixed to the above described real property (the "Real Decd orTiust. Security Agroemoat, ruiwicica Sede"eeed Grantor -2- • • tJr:r��Jis %zt e! "'ill 8k Vol Ps Pi / 01124058 OR 10748 270 • EXECUTED this c J day of Juno, 2012. AGGIE SHACKS, LLC, a Texas limited liability company By: d K. Se el am er THE STATE OF TEXAS § ■ § COUNTY OF BRAZOS § This instrument was acknowledged before me on the C / day of June, 2012, by Donald K. ' Sewell, Manager of AOOIE SHACKS, LLC, a Texas limited liability company, on behalf of said company. - ealaiL Jn /'<Q). %1allotary COLLEEN it wan c in and for the State of Texas . ar Comma; eP 141 %• 1,11,021,2014 APTER RECORDINO TOs PREPARSD INTHE WWOFPICEOF: BXTRACO .A. DRUCII M GOSS, THORNrON, MERONOFP & HAWTIIORNE, PC ATIN: PAT Y 4343 Carter Oak Parkway, Sate 101 27068os tan Ames Bryn..Texa77002 ' R um 771102 Fik 12 :1302 PEMtmw • ro E ,� s 'p'a : as- I .a, i r " .1 . .1 . if if : i I i e: 1 11: a z i t is NE . �� � u f 4 iA an 8 G i .. FP: Deed of T seeaemt, DaenciaDetena Grante ix 1 ail 4 BILL & RETURN TO: 3RA10$ nt'1Ty T C 0t 12 Doe OR t Vol 262 ! GF# /�Soaa C DEED OF TRUST SECURITY AGREEMENT FINANCING STATEMENT NOTICE ()F CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF, THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT 18 FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER. Date: June 21, 2012 Grantor: AGOIB SHACKS, LLC a Texas limited liability company Grantor's Mailing Address: 1113 Langford Street College Station, Texas 77840 Brazos County Trustee: PATRICIA B. MERONOFF Trustee's Mailing Address: 4343 Carter Creek Pkwy., Suite 100 Bryan, Texas 77802 Brazos County Beneficiary: EXTRACO BANKS, N.A. Beneficiary's Mailing Address: 2706 South Texas Avenue • Bryan, Texas 77802 Brazos County Note(s) Date; June 21, 2012 Amount: $148,000.00 Maker: AUGIB SHACKS, LLC, a Texas limited liability company Payee; EXTRACO BANKS, N.A., a National Banking Association Final Maturity Date: June 21, 2013 Terms of Payment: As provided therein. Decd of Trust. Security Agaana,►. Firanci g Statement • Grantor - 1 - Uurygl.IrryJ LnoZ1 Doc Bk Vol Ps 01124058 OR 10748 263 Property (including any improvements): Being a tract of land contained 0.4580 acre, more or less, Tying and being situated in the MORGAN RECTOR LEAGUE, A-46, College Station, Brazos County, Texas. Being the same tract of land as recorded in Volume 133, page 727, Deed Records of Brazos County, Texas, and save and except that tract recorded in Volume 3667, page 175, Official Records of Brazos County, Texas, and being called to be out of tho Richards Addition to the City of College Station, as recorded in Volume 137, page 25, Deed Records of Brazos County, Texas, and being more particularly described as follows: BEGINNING at a 5/8" iron rod found with a yellow faded plastio cap marked "KERR RPLS 4502" for the east comer of this tract, also being the south comer of the Willie A. Steen tract, as recorded in Volume 825, page 90, Official Records of Brazos County, Texas, and being on the northwest line of tho Mancuso Investment, Ltd., CVM Addition, Lot 1, Block 1, as recorded in Volume 5885, page 98, Official Records of Brazos County, Texas; THENCE South 41° 45' 21" West, a distance of 181.44 feet along the common line between this tract and said Lot 1 to a 5/8" iron rod found with an aluminum cap marked 'TXDOT ROW MARKER" for the south comer of this tract, also being the west comer of said Lot 1, also being on the northeast right of way line of Texas Avenue South (measured approximate 130' R.O.W.); THENCE North 49° 28' 28" West, a distance of 88.91 feet along the common line between this tract and said Texas Avenue South to a 1/2" iron rod with a maroon plastic cap marked "RPLS 6132 -ATM SURV" set for a west corner of this tract; THENCE North 4° 25' 10" West, a distance of 21.37 feet along the common lino between this tract and said right of way line of Texas Avenue South to a 1/2" iron rod with a maroon plastic cap marked "RPLS 6132 - ATM SURV" set for a west corner of this tract, also being at the intersection of said Texas Avenue South, and the southeast lino of Sterling Street (25' R.O.W.); 'J,,re areti THENCE North 41° 48' 03" East, a distance of 178.48 feet along the common line between this tract and said right of way line of Sterling Street to a 1/2" iron rod with a maroon plastic cap marked "RPLS 6132 - ATM SURV" set for tho north corner of this tract, also being the west comer of said Steen tract, from which a 5/8" Iron rod found with a yellow plastic cap marked "KERR RPLS 4502" bears N 58° 50' 54" W at a distance of 2.16 feet; THENCE South 48° 17' 03" East, a distance of 104.17 feet along tho common line between this tract and said Steen tract to the PLACE OF BEGINNING, containing 0.4580 acres of land, more or less. TOGETHER WITH, all buildings, Improvements and fixtures located or subsequently erected on or affixed to the above described real property (the "Real Deed of Ttuet, &a+ky Agreement, rtmctns Statement Creator -2- Doc Bk Vol 1' I 011 4058 OR 10748 264 Property"); all easements, rights of' way, licenses, rights of ingress and egress, remainders, reversions, and reversionary rights or Interests, appurtenances, and signage rights used in connection with, pertaining to, or benefiting the Real Property; any strips or gores between or among the Real Property and abutting or adjacent tracts; all water and water rights, and ail certificates, permits and adjudications relating thereto applicable to the Real Property; all timber, crops, mineral interests and surface materials in, on, or pertaining to the Real Property; all fumiture, equipment, components, materials and goods, now owned or hereafter acquired, and used in or usefill to the development, use, occupancy or • operation of the Real Property and the improvements thereon, and all substitutions, replacements, and additions thereof; all of Grantor's rights (but not the obligations under) In and to any permits, deposits, contract rights, governmental program benefits, general intangibles, and insurance policies pertaining to the Real Property, its use and the improvements thereon; and all proceeds and products of any of the foregoing properties, rights, or interests, specifically including, but not limited to, all insurance proceeds and refunds, and all condemnation and damage awards. All of the foregoing assets, rights, and interests, together with the Real Property, are herein called the "Property". Prior Liens: None Other Exceptions to Conveyance and Warranty: This conveyance is made subject to the easements and restrictions affecting the Property of record in Brazos County, Texas, if any, but only to the extent they are in effect on this date. For value received and to secure payment of the note, Grantor conveys the Property to Trustee In trust. Grantor warrants and agrees to defend the title to the Property. If Grantor performs all the covenants and pays the note according to its terms, this deed of trust shall have no further effect, and Beneficiary shall release it at Grantor's expense. Grantor's Obligations Grantor agrees to: 1, keep the Property In good repair and condition, and in compliance with all laws, ordinances, and regulations; 2. pay all taxes and assessments on the Property when due; i ' 3. preserve the lien's priority as it is established in this deed of trust; ot,ru ji,tryd ims 4. maintain, in a form acceptable to Beneficiary, an insurance policy that: a. covers all improvements for their full insurable value as determined when the policy is issued and renewed, unless Beneficiary approves a smaller amount in writing; b. contains an 80% co- insurance clause; c. provides fire and extended coverage, including windstorm coverage; d. protects Beneficiary with a standard mortgage clause; e. provides flood insurance at any time the property is in a flood hazard area; and f. contains such other coverage as Beneficiary may reasonably require; 5. comply at all times with the requirements of the 80% co- insurance clause; Deed of Trust. Security Arroanent, Financing 5Waoat Grarlor - 3- I 01124058 OR 10 26 6. deliver the insurance policy to Beneficiary and deliver renewals to Beneficiary at least ten days before expiration; 7, keep any buildings occupied as required by the insurance policy; and 8, if this is not a first lien, pay all prior Hen notes that Grantor is personally liable to pay and abide by all prior lien instruments. Beneficiary's Rights 1. Beneficiary may appoint in writing a substitute or successor trustee, succeeding to all rights and responsibilities of Trustee. 2. If the proceeds of the note aro used to pay any debt secured by prior liens, Beneficiary is subrogated to all of the rights and liens of the holders of any debt so paid. 3. Beneficiary may apply any proceeds received under the insurance policy either to reduce the note or to repair or replace damaged or destroyed Improvements covered by the policy. 4. If Grantor fails to perform any of Grantor's obligations, Beneficiary may perform those obligations and be reimbursed by Grantor on demand at the place where the note is payable for any sums so paid, including attorney's fees, plus interest on those sums from the dates of payment at the rate stated in the note for matured, unpaid amounts. The sum to be reimbursed shall be secured by this deed of trust. 5. If Grantor defaults on the note or fails to perform any of Grantor's obligations or if default occurs on a prior lien note or other instrument, Beneficiary may; a. declare the unpaid principal balance and earned interest on the note immediately due; b. request Trustee to foreclose this lien, in which ease Beneficiary or Beneficiary's agent shall give notice of the foreclosure sale as provided by the Texas Property Code as then amended; and c. purchase the Property at any foreclosure sale by offering the highest bid and then have the bid credited on the note. Trustee's Duties If requested by Beneficiary to foreclose this lien, Trustee shall: 1. either personally or by agent give notice of the foreclosure sale as required by the Texas Property Code as then amended; 2. self and convey all or part of the Property to the highest bidder for cash with a general warranty binding Grantor, subject to prior liens and to oiViti 'e'>7 ifl4 W 5 to • conveyance and warranty; and 3. from the proceeds of the sale, pay, in this order: a. expenses of foreclosure, including a commission to Trustee of five percent of the bid; b. to Beneficiary, the fill amount of principal, interest, attorney's fees, and other charges due and unpaid; o. any amounts required by law to be paid before payment to Grantor; and d. to Grantor, any balance. Compliance with Environmental Law "Environmental Laws" means applicable federal, state, and local laws relating to protection of the public health, welfare, and the environment, including without limitation, those laws relating Deed °MTn st, Scarily Aptemrnt, Mincing Sulanenl Grantor -4- 01124058 OR 10748 266 to the storage, handling and use of chemicals and other hazardous materials, those relating to the generation, processing, treatment, storage, transport, disposal, or other management of waste materials of any kind, and those relating to the protection of environmentally sensitive areas. "Hazardous Material" means "hazardous substance ", "pollutant or contaminate ", and "petroleum" and "natural gas liquids ", as those terms are defined or used in Section 101 of the Comprehensive Environmental Response and Compensation and Liability Act ( "CERCLA"), as amended by the Supertlmd Amendment and Reauthorization Act. "Release" means any depositing, spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping, leaching, dumping, or disposing. Grantor agrees to comply with all applicable Environmental Laws. Grantor agrees to cause all its employees, agents, contractors, tenants, and any other persons occupying or present on the Property ( "Occupants") to comply with all • applicable Environmental Laws. There shall be no Release of any Hazardous Materials on, onto, or from the Property which will result in violation of any Environmental Law. Grantor agrees not to handle, use, or otherwise manage, and to cause all occupants of the Property not to manage, any Hazardous Material in violation of any Environmental Laws, or in any but a reasonable and prudent manner so as to prevent the Release or threat of Release of any Hazardous Material on, onto, or (tom the Property. In the event Grantor is in breach of any of its I agreements as set forth above, Grantor, at its sole expense, shall take all action required, including environmental cleanup of the Property, to comply with the covenants hereof or applicable legal requirements and, in any event, shall take all action deemed necessary under all applicable Environmental Laws, Grantor agrees to indemnify and hold Beneficiary, its employees, agents, attorneys, heirs and successors, harmless from and against any and all claims, losses, damages, liabilities, fines, penalties, charges, Judgments, administrative orders, remediation requirements, enforcement actions of any kind, and all costa and expenses incurred In connection therewith (including all costs and attorney's fees incurred by Beneficiary in enforcing this indemnity) arising directly or indirectly, in whole or in part, out of any breach of this agreement. Grantor's agreements and indemnities contained herein shall survive the termination of this deed of trust. General Provisions 1. If any of the Property is sold under this deed of trust, Grantor shall immediately surrender possession to the purchaser. If Grantor fails to do so, Grantor shall become a tenant at sufferance of the purchaser, subject to an action for forcible detainer. 2. Recitals in any Trustee's deed conveying the property will be presumed to be true. 3. 'Proceeding under this deed of trust, filing suit for foreclosure, or pursuing any other remedy will not constitute an election of remedies. 4. This Tien shall remain superior to liens later created even if the time of payment of all or part of the note is extended or part of the property is released. 5. It shall be an Event of Default of this Deed of Trust if Grantor fails to timely pay Unle=istarud hf,ytl all taxes and/or assessments on the Property. Such default shall continue and is not cured by Grantor in the event a third party lender pays taxes on behalf of the Grantor, causing a tax lien in favor of said third party. Without the prior, express written consent of Beneficiary, Grantor Is strictly prohibited from entering into a loan agreement with a third party lender resulting in the transfer of a tax Tien as described in Chapter 32 of the Texas Tax Code, unless said loan agreement also results in or is concurrent with the complete payment of the remaining balance on Mod orltwt, sous* Agreement, Merck* Statement Grantor -5~ Doc Bk Vol Ps 01124058 OR 10748 267 the Note by said third party lender, and Beneficiary's release of Grantor's obligations under said Note and Deed of Trust. For the purposes of this section, "third party lender" means any natural person or entity, other than Beneficiary, whom Grantor solicits or by whom Grantor is solicited with respect to securing the payment of taxes on the Property. 6. if any portion of the note cannot be lawftdly secured by this deed of trust, payments shall be applied first to discharge that portion. 7. Grantor assigns to Beneficiary all sums payable to or received by Grantor from condemnation of all or part of the property, from private sale in lieu of condemna- tion, and from damages caused by public works or construction on or near the Property. After deducting any expenses incurred, including attorney's fees, Beneficiary may release any remaining sums to Grantor or apply such sums to reduce the note. Beneficiary shall not be liable for failure to collect or to exercise diligence in collecting any such sums. 8. interest on the debt secured by this deed of trust shall not exceed the maximum amount of nonusurious interest that may be contracted for, taken, reserved, charged, or received under law; any interest in excess of that maximum amount shall be credited on the principal of the debt or, if that has been paid, refbnded. On any acceleration or required or permitted prepayment, any such excess shall be canceled automatically as of tha acceleration or prepayment or, if already paid, 'Jrntstwya Wrei3ited on the principal of the debt or if the principal of the debt has been paid, reftrnded. This provision overrides other provisions in this and all other instruments concerning the debt. 9. When the context requires, singular nouns and pronouns include the plural. 10. The term "note" Includes all sums secured by this decd of trust. 11. This deed of trust shall bind, inure to rho benefit of, and be exercised by successors in interest of all parties, 12. if Grantor and Maker are not the same person, the term "Grantor" shall include Maker. 13. As a part of the consideration herein, it is further agreed that In the event Grantor or any other owner of the above described property should sell or otherwise dispose of the Property, or any part thereof, securing the above described note at any time before this decd of trust is ftilly released and discharged, (or If Grantor is not a natural person, and 50% or more of the ownership Interest In Grantor is sold or transferred) Beneficiary shall have the option to declare all of said note, including principal, interest and prepayment charges, due and payable; and if said note is not paid within ten (10) days after the same is declared due and payable, all of the other terms and provisions of' this deed of trust shalt apply, and the Beneficiary may, at its option, proceed with foreclosure proceedings hereunder. The failure to exercise this option shall not be construed as a waiver of such rights, and said option may be exercised at any time. A sale or other disposition includes an installment sate contract, a lease - option contract, a lease with a term of greater than three (3) years, or any other method of conveyance of an interest in real property. 14. To the extent permitted by law, this deed of trust shall secure, in addition to the above indebtedness, any and all other indebtedness of the undersigned to Beneficiary now owing or which may hereafter become owing, whether Deed ofl , Security Agreement, Arlene init Statement Grantor -6- 0112 Oek R 1075 2 evidenced by note, open account, endorsement, surety, guaranty, overdraft or otherwise, and it is expressly agreed that any default in the payment of such other indebtedness or the failure to observe and perform any obligation under the terms of any document securing or relating to such other indebtedness shall also be a default under this deed of trust. 15. In addition to the principal and interest payment due on the hereinabove described note, Beneficiary may if it so elects require Grantor to pay to Beneficiary, a monthly deposit in an amount sufficient to pay the ad valorem taxes and insurance premiums, which monthly deposits for taxes and insurance shall be held and accumulated by Beneficiary for the payment of such taxes and insurance premiums when the same shall fhll due and the amount of such monthly deposit shall be the amount estimated by the Beneficiary of such note to be necessary for the payment of such taxes and insurance premiums applicable to the Property. 16. The note hereby secured is not assumable. 17. It is understood and agreed that by this instrument, Grantor, in addition to fixing and creating a Deed of Trust lien upon and against the Real Property herein described, inclusive of all goods which are or are to become fixtures thereon, has also created and granted to the Beneficiary pursuant to the Uniform Commercial Code as adopted in Texas (the "Code") a security interest in all goods, accounts, equipment, general Intangibles, documents, chattel paper, investment property, deposit accounts, and instruments described herein. In the event of a foreclosure sale, whether made by the Trustee or Substitute Trustee, under the terms of this Deed of Trust, or under judgment of a Court, all Property herein described may, at option of the Beneficiary, be sold as a whole and that it shall not be necessary to have present at the place of sale the Property or any part thereof. A carbon, photographic or other reproduction of this agreement or a financing statement may be filed by Beneficiary as a financing statement with the Texas Secretary of State, any county clerk in the State of Texas, or any other filing officer authorized to accept such filings under the Code or in any other state or territory in the United States. Grantor further authorizes Beneficiary to file, without the signature of Grantor, any financing statement deemed by Beneficiary to bo necessary to perfect the security interests herein described, Cumulative of all rights of Beneficiary hereunder, Beneficiary shall have all of the rights conferred upon secured parties by the Code. Grantor will execute and deliver to Beneficiary all documents and financing statements that may from time -to -time be required by Beneficiary to establish and maintain the validity and priority of the security interest of Beneficiary. Beneficiary may exercise any and all of the remedies of a secured party available to it under the Code with respect to the nonreal property herein described, and it is expressly agreed that if upon default Beneficiary should proceed to dispose of such property in accordance with the provisions of the Code, ten (10) days' notice by Beneficiary to Grantor shall be deemed to be reasonable noti isfAmife'i imp provisions of the Code requiring such notice. Beneficiary may at its option dispose of the Property in accordance with Beneficiary's rights and remedies pursuant to the provisions of this Decd of Trust in lieu of proceeding under the Code. Some of the items of the Property described herein are goods that are or are to become fixtures related to the Real Property described herein, and it is intended that, as to those goods, this Deed of Trust is to Dead of Dual, Smarty Agreement, Flr000ing Statement Grantor - Doc 8k Vol Pe Q1124058 OR 19748 269 be filed and shall be effective as a financing statement filed as a fixture filing from the date of Its filing for record in the Real Estate Records of the county in which the Property is situated. information concerning the security interest created by this instrument may bo obtained from Beneficiary, as Secured Party, at the address of the Beneficiary stated above. The mailing address of the Grantor, as Debtor, Is also stated above. Grantor Is tho record owner of the Property. 18. me indebtedness, payment of which is hereby secured, Is In part payment of the purchase price of said property, and is also secured by a vendor's lien thereon retained in the deed convoying said property to the undersigned, and this deed of trust is given as additional security for the payment thereof. This Deed of Trust does not waive the vendor's lien and the two liens and the rights treated by this Instrument shall be cumulative. Beneficiary may elect to foreclose under either of the liens without waving the other or may foreclose under both. The deed is incorporated into this Deed of Trust. 19. The undersigned agree that all disputes, claims and controversies between Grantor and Beneficiary whether individual, joint, or class in nature, arising front this agreement or otherwise, including without limitation contract and tort disputes, shall be arbitrated pursuant to the Rules of the American Arbitration Association in effect at the time the claim is filed, upon request of either party. No act to take or dispose of any collateral shall constitute a waiver of this arbitration agreement or be prohibited by this arbitration agreement. This includes without limitation, obtaining injunctive relief or a temporary restraining order; invoking a power of sale under any deed of trust or mortgage; obtaining a writ of attachment or Imposition or exercising any rights relating to personal property, including taking or disposing of such property with or without judicial process pursuant to Article 9 of the Uniform Commercial Code. Any disputes, claims, or controversies concerning the lawfulness or reasonableness of any act, or exercise of any right, concerning any collateral including any claim to rescind, reform, or otherwise modify any agreement relating to the collateral shall also be arbitrated, provided however that no arbitrator shall have the right or the power to enjoin or restrain any act of any party. Judgment upon any award rendered by any arbitrator may be entered in any court having jurisdiction. Nothing in this agreement shall preclude any party from seeking equitable relief from a court of competent jurisdiction. The statute of limitations, estoppel, waiver, Inches, and similar doctrines which would otherwise be applicable in an action brought by a party shall be applicable in any arbitration proceeding, and the commencement of an arbitration proceeding, shall be deemed the commencement of an action for these purposes. The Federal Arbitration Act shall apply to the construction, interpretation, and enforcement of this arbitration provision. peed of Tnnt, Security Agroetnent, Fi ram hag Stat mm Grantor -8- I Unr�;�is %�z J irri j/! DoC Bk Vol Po Pi 01124058 OR 1074B 270 • EXECUTED this o` i day of Juno, 2012. AGGIE SHACKS, LLC, a Texas limited liability company By: D d K. Se el ant er THE STATE OF TEXAS § COUNTY OF BRAZOS § This instrument was acknowledged before me on the C / day of June, 2012, by Donald K. Sewell, Manager of AO01E SHACKS, LLC, a Texas limited liability company, on behalf of said company. eaa-tet v ,� /9 LZ Og. COLLEEN 11 WAILER e in and for the State of Texas coakusicv EXPIRES Eo0621,2014 AFI R RECORDING TOs PREPARED IN THE LAW OFFICE OFi EXTRACO R .A. RRUCAE7., GOSS, TIIORNTON, MERONOFF & HAWTHORNE, PC ATMs PAT LEY 4343 Carter Crook Parkway, Smite t00 1706 Sou ma Anzio Rook Two 77801 eiu 77802 Pik 12:1302- PEM /rni a 9, xx q N k O a PP 11 F t t I " 2i o m �Q[ N 4Eg A]y 2.6 tY Deed of DUI greement, FinenciliStetemM , Grantor k IT 4 T R Mg"'