THE STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS
COUNTY OF ___________ §
THAT, __________________ was designated Trustee under that certain Deed of Trust (the “Deed of Trust”), dated ____________, ________, by _______________________, an individual, to _______________________, as Trustee, for the benefit of ____________________________ (“Lender”), and filed for record in the Official Records of _____________ County, Texas under Document Number __________, said Deed of Trust covering, among other things, certain real property located in _______________ County, Texas and more fully described in Exhibit A attached hereto; and
WHEREAS, default has been made under the terms of the Deed of Trust and the payment of the indebtedness secured thereby; and
WHEREAS, under the terms of the Deed of Trust, the holder of the indebtedness secured thereby is authorized and empowered to name and appoint a Substitute Trustee;
NOW, THEREFORE, Lender, the owner and holder of the indebtedness secured by the Deed of Trust, (i) has disqualified and hereby removes _______________ as Trustee under the Deed of Trust and (ii) has named, designated and appointed, and does hereby name, designate and appoint, _________________ as Substitute Trustee to act under and pursuant to the terms of the Deed of Trust.
EXECUTED on the date set forth in the acknowledgment below to be effective the _____ day of ______________, 20___.
[LENDER]
By:_______________________________________
Name:____________________________________
Title:_____________________________________
STATE OF TEXAS__________ §
§
COUNTY OF______________ §
This instrument was acknowledged before me on the _____ day of _________, 20___, by [name of signer], as Substitute Trustee.
Notary Public:________________________
Printed Name of Notary________________
My Commission Expires________________
(SEAL)
AFTER RECORDING,
RETURN TO:
Form of Notice of Sale by Substitute Trustee
THE STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF __________ §
THAT, WHEREAS, ____________________ (“Borrower”) became indebted to ____________________ (“Lender”) in the original principal aggregate sum not to exceed ____________________ (______________), as evidenced by that Real Estate Lien Note dated as of ________________ (the “Note”) executed and delivered by Borrower to the order of Lender as payee, bearing interest and being due and payable as therein provided; and
WHEREAS, the indebtedness evidenced by the Note is secured by, among other items, that certain Deed of Trust (the “Deed of Trust”), dated of even date with the Note, executed by ____________________, to ____________________, as Trustee for the benefit of Lender, said Deed of Trust being filed for record and recorded in the Official Records of Brazoria County, Texas, as Document Number _______ (the indebtedness evidenced by the Note and all other indebtedness secured by the Deed of Trust being collectively called the “Indebtedness”), covering real property located in ____________ County, Texas and more fully described in Exhibit A attached hereto, along with any and all appurtenances, improvements, personal property and fixtures of any kind located thereon or pertaining thereto, and any leases and rents relating thereto, which are described therein (all of which is hereinafter referred to as the “Premises”); and
WHEREAS, there may be certain leases, rental agreements, easements and/or other matters (collectively, the “Other Matters”) covering and/or affecting the Premises currently in existence; and
WHEREAS, the liens securing the payment of the Indebtedness may be senior and superior to one or more of the Other Matters and junior and inferior to other of the Other Matters; and
WHEREAS, with respect to the liens securing the payment of the Indebtedness, which are senior to the Other Matters, if any, Lender may subordinate its liens securing the Indebtedness to any one or more of the Other Matters and may not so subordinate such liens to other of the Other Matters; and
WHEREAS, in the event Lender chooses to subordinate its liens securing the Indebtedness to any Other Matters, such decision will be announced at the foreclosure sale; and
WHEREAS, default has been made in the payment of the Note and the Indebtedness, and the Note is now unpaid, delinquent and in default; and
WHEREAS, Lender has given all required notices to Borrower and any and all other necessary parties with regard to the defaulted Indebtedness; and
WHEREAS, pursuant to the authority granted in the Deed of Trust, Lender has appointed the undersigned as Substitute Trustee under the Deed of Trust pursuant to a duly authorized and executed appointment document; and
WHEREAS, Lender has requested the undersigned to enforce the liens of the Deed of Trust by sale of the Premises in the manner set forth under the terms of the Deed of Trust and pursuant to the laws of the State of Texas; and
WHEREAS, pursuant to the Uniform Commercial Code adopted by the State of Texas (the “UCC”), the undersigned Substitute Trustee, acting upon the request of Lender, will foreclose upon all fixtures and personal property covered by the Deed of Trust in accordance with the procedures for the foreclosure of real property; and
WHEREAS, the undersigned, Substitute Trustee, acting upon the request of Lender by these presents is hereby posting, filing and giving notice of the foreclosure of the Deed of Trust and the liens, security interests and assignments thereof in accordance with applicable Texas law and the terms and provisions of the Deed of Trust;
NOW, THEREFORE, I, the undersigned, ____________________, Substitute Trustee as aforesaid, do hereby give notice that after due publication of this notice as required by law and the Deed of Trust, I will sell the Premises at public venue to the highest bidder or bidders, for cash, which sale will begin no earlier than 10:00 A.M. and no later than 4:00 P.M., on the first Tuesday in __________ next, the same being ____________________ at the county courthouse in ____________________, ____________________ County, Texas, in the area where foreclosure sales are to take place as designated by the Commissioner’s Court of said county, said designation having been recorded in the real property records of said county.
EXECUTED this the ____ day of ____________________, 20____.
_________________________________________,
Substitute Trustee
THE STATE OF TEXAS §
§
COUNTY OF ___________ §
This instrument was acknowledged before me on the _____ day of _________, 20___, by [name of signer], as Substitute Trustee.
_________________________________________
Notary Public in and for T E X A S
Printed Name of Notary:
_________________________________________
My Commission Expires: ____________________
AFTER RECORDING,
RETURN TO: