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GF#940628-RUSSELL W. AND DOROTHY A. DUKE TO WILLIAM F. PHILLIPS,JR. TRUSTEE FOR THE `- r
BENEFIT OF HOMESTEAD SAVINGS ASSOCIATION UNIFORM COVENANTS Borrower and Lender covenant and agree as follows:
RECORDING PD BY UTC , 1. Payment of Principal and Interest;Prepayment and Late Charges. Borrower shall promptly pay when due
L 553587 the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note.
2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender,Borrower shall pay
9". v to Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum("Funds")equal to
Nr g Pk �'+' one-twelfth of: (a)yearly taxes and assessments which may attain priority over this Security Instrument; (b)yearly
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se leahold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d)yearly
`a^t� L` E`-1 more a e insurance premiums.if an These items are called"escrow items."Lender y
3FAZCS.0 4fY y/M R R P ri may estimate the Funds due on the r
li00-� basis of current data and reasonable estimates of future escrow items.
t L fEXA$ The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or
state agency(including Lender if Lender is such an institution).Lender shall apply CtPUf Y ; g Y g ) PP Y the Funds to pay the escrow items.
Lender may not charge for holding and applying the Funds,analyzing the account or verifying the escrow items,unless
Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and
Lender may agree in writing that interest shall be paid on the Funds.Unless an agreement is made or applicable law
• phi«+AM+a TM\taw Far INCW&M Dab) requires interest to be paid,Lender shall not be required to pay Borrower any interest or earnings on the Funds.Lender
shall give to Borrower,without charge,an annual accounting of the Funds showing credits and debits to the Funds and the
DEED �F TRUST purpose for which each debit to the Funds was made.The Funds are pledged as additional security for the sums secured by
this Security Instrument.
If the amount of the Funds held by Lender,together with the future monthly payments of Funds payable prior to
THIS DEED OF TRUST("Security Instrumeof)is made oD May 17 the due dates of the escrow items,shall exceed the amount required to pay the escrow items when due,the excess shall be,
1994 .The grantor is RUSSELL W. DUKE and wife, DOROTHY A. DUKE at Borrower's option,either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds.If the
("Borrower').The trustee is William F. Phillips, Jr. amount of the Funds held by Lender is not sufficient to pay the escrow items when due,Borrower shall pay to Lender any
,whose address is amount necessary to make up the deficiency in one or more payments as required by Lender.
2553 Texas Ave. S.. College Station, Brazos County, Texas Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Borrower
('Trustee').The beneficiary Is HOMESTEAD SAVINGS ASSOCIATION OF TEXAS any Funds held by Lender.If under paragraph 19 the Property is sold or acquired by Lender,Lender shall apply,no later
which is organized and existing under the laws of the State of Texas than immediately prior to the sale of the Properly or its acquisition by Lender,any Funds held by Lender at the time of
and whose address is 2553 Texas Ave. S., College Station, Brazos County, Texas application as a credit against the sums secured by this Security Instrument.
("Lender-) 3. Application of Payments. Unless applicable law provides otherwise,all payments received by Lender under
Borrower owes Lender the principal stem of SEVENTY-NINE THOUSAND TWO HUNDRED AND NO/100 ------ paragraphs I and 2 shall be applied:first,to late charges due under the Note;second,to prepayment charges due under the
Note•,third,to amounts payable under paragraph 2;fourth,to interest due;and last,to principal due.
Dollars instrument
S 79,200.00 -------). This debt is evidenced by " 4. Charges;Liens. Borrower shall pay all taxes,assessments,charges,fines and impositions attributable to the
Borrower'enotedatedlheaamedateasthisSecuritylnstrumem("Note"),which providesformoathlypayments,withtbefuH Pro ere which may attain priority over this Securit Instrument, and leasehold
Properly Y P Y Y payments or ground rents, if any.
debt,if not paid earlier,due and payable on June 1, 2024 Borrower shall pay these obligations in the manner provided in paragraph 2,or if not paid in that manner,Borrower shall
This Security Instrument secures to Lender:(a)the repayment of the debt evidenced by the Note,with interest,and all renewals. pay them on time directly to the person owed payment.Borrower shall promptly furnish to Lender all notices of amounts
extensions and modifications;(b)the payment of all other sums,with interest,advanced under paragraph 7 to protect the to be paid under this paragraph.If Borrower makes these payments directly.Borrower shall promptly furnish to Lender
security of this Security Instrument:and(e)the performance of Borrower's covenants and agreements under this Security receipts evidencing the payments.
Instrument and the Note.For this purpose,Borrower irrevocably grants and conveys to Trustee,intrust,with power ofsale, -
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a)
Brazos Count Texas: agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good
the following described property located in y' faith the lien by,or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to
All of that certain lot or parcel of land, lying within an unplatted portion of prevent the enforcement of the lien or forfeiture of any part of the Property;or(c)secures from the holder of the lien an
agreement satisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that any part of
COLLEGE PARK, an addition to the City of College Station, Brazos County. Texas, the Properly is subject to a lien which may attain priority over this Security Instrument,Lender may give Borrower a
according to the plat recorded in Volume 38, Page 602 and being that same David notice identifying the lien.Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days
B. Hill and wife, Charlotte R. Hill, called Lot 12, Block 2A, recorded in Volume of the giving of notice.
849, Page 602, Official Records of said County, and being further described in S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
EXHIBIT "A", attached hereto and made a part hereof for all purposes. insured against loss by fire,hazards included within the term"extended coverage"and any other hazards for which Lender
requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires.The
insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be
unreasonably withheld.
All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
Lender shall have the right to hold the policies and renewals.If Lender requires,Borrower shall promptly give to Lender
all receipts of paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance
carrier and Lender.Lender may make proof of loss if not made promptly by Borrower.
Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair
of the Property damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the
restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be
applied to the sums secured by this Security Instrument,whether or not then due,with any excess paid to Borrower.If
= Borrower abandons the Property,or does not answer within 30 days a notice from Lender that the insurance carrier has
a offered to settle a claim,then Lender may collect the insurance proceeds.Lender may use the proceeds to repair or restore
Y _ the Property or to pay sums secured by this Security Instrument,whether or not then due.The 30-day period will begin
when the notice is given.
Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or
postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of the payments.If
under paragraph 19 the Property is acquired by Lender,Borrower's right to any insurance policies and proceeds resulting
from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
Instrument immediately prior to the acquisition.
which has the address of 600 Old Jersey College Station 6. Preservation and Maintenance of Property;Leaseholds. Borrower shall not destroy,damage or substantially
IN-41 IcMI p change the Property,allow the Property to deteriorate or commit waste.If this Security Instrument is on a leasehold,
Texas 77840 ("Property Address"); = Borrower shall comply with the provisions of the lease,and if Borrower acquires fee title to the Property,the leasehold and
In►C000I fee Iitle shall not merge unless Lender agrees to the merger in writing.
- 7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the
TooETHER WITH all the improvements now or hereafter erected On the property, and all easements,rights.
appurtenances,rents,royalties,mineral,oil and gas rights and profits,water rights and stock and all fixtures now Of _ covenants and agreements contained in this Security Instrument,or there is a legal proceeding that may significantly affect
Lender's rights in the Property(such as a proceeding in bankruptcy,probate,for condemnation or to enforce laws or
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hereafter part of the property.All replacements and additions shall also be covered by this Security Instrument All ofthe = regulations),then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights
foregoing s referred to in this Security instrument as the"Property." - in the Property. Lender's actions may include paying any sums secured by A lien which has priority over this Security
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant - Instrument,appearing in court,paying reasonable attorneys'fees and entering on the Property to make repairs.Although
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and convey the Property and that the Property is unencumbered,except for encumbrances of record.Borrower warrants Lender may take action under this paragraph 7,Lender does not have to do so.
and will defend generally the title to the Property against all claims and demands,subject to any encumbrances 0!record• Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with - = Security Instrument.Unless Borrower and Lender agree to other terms of payment,these amounts shall bear interest from
limited variations by jurisdiction to constitute a uniform security instrument covering real property. - the date of disbursement at the Note rate and shall be payable,with interest,upon notice from Lender to Borrower
requesting payment.
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