THE
STATE OF
TEXAS
§
§ KNOW ALL PERSONS BY
THESE PRESENTS:
COUNTY OF ___________
§
THAT, WHEREAS, _______________ (“Borrower”) became indebted to _______________ (the “Lender”), as evidenced by that certain promissory note (the “Note”) dated _______________, in the original principal sum of _______________ and No/100 Dollars ($____________), executed and delivered by Borrower and payable to the order of the Lender, 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 _______________, Trustee, for the benefit of the Lender, said Deed of Trust being filed for record and recorded in the Official Records of _______________ County, Texas, under Document Number _________ covering the property located in _______________ County, Texas, and more fully described in Exhibit A hereto, together with any and all appurtenances, improvements and fixtures of any kind located thereon or pertaining thereto, leases and rents relating thereto, as and to the extent more fully described therein (the indebtedness evidenced by the Note and all other indebtedness secured by the Deed of Trust being collectively called the “Indebtedness”); and
WHEREAS, default has been made in the payment of the Note and the Indebtedness, and the Note is now matured, unpaid, delinquent and in default; and
WHEREAS, the Lender has given or caused to be given all required notices to Borrower with regard to the matured, defaulted Indebtedness; and
WHEREAS, pursuant to the authority granted in the Deed of Trust, the Lender has legally appointed the undersigned as Substitute Trustee under the Deed of Trust pursuant to a duly authorized and executed appointment document (the “Appointment of Substitute Trustee”); and
WHEREAS, the Lender has requested the undersigned to enforce the liens of the Deed of Trust by sale of the property herein described 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, the undersigned, Substitute Trustee, acting upon the request of the Lender, did, at least twenty-one (21) days preceding the date of the public sale hereinafter described, give notice of the foreclosure of the Deed of Trust and the liens thereof in accordance with the laws of the State of Texas and the terms of the Deed of Trust and the Appointment of Substitute Trustee, (i) by causing to be posted on or before the _____ day of __________ 20___, a written notice of sale of the property herein described, said notice being posted on or before such date on the bulletin board used for such posting and located in the county courthouse in Angleton, _______________ County, Texas, (ii) by also on or before said date filing said notice or a copy thereof in the office of the County Clerk of _______________ County, Texas and (iii) by also on or before said date causing such notice to be transmitted to all parties obligated to pay the Note according to the records of the Lender each such latter notice being deposited in a post office or official depository under the care and custody of the United States Postal Service and being sent by certified mail, postage prepaid and properly addressed to all such parties at each such parties’ most recent address, according to the records of the Lender; and
WHEREAS, on Tuesday, _______________, 20___, said date being the first Tuesday of said month and the date of sale specified in said notices, the undersigned did offer the property herein described for sale at public venue at the location designated or described in said notices, to the highest bidder for cash, between the hours of 10:00 a.m. and 4:00 p.m. on said date, said sale having begun no earlier than the time specified in said notices for the earliest time that the sale would begin (the “Earliest Time of Sale”) and said sale having begun no later than six (6) hours after the Earliest Time of Sale, and the property herein described being struck off and sold between said hours to the Grantee hereinafter named, who was the highest and successful bidder for the property herein described;
NOW, THEREFORE, in consideration of the premises and the payment this date of the sum of the amount bid at such foreclosure sale by or on behalf of the Grantee hereinafter named, the highest bid made for the property herein described, the undersigned Substitute Trustee as aforesaid, by virtue of and pursuant to the authority conferred by the Deed of Trust and the Appointment of Substitute Trustee, has GRANTED, BARGAINED, SOLD and CONVEYED and does hereby GRANT, BARGAIN, SELL and CONVEY unto _______________, a Texas limited liability company (hereinafter called “Grantee”), and the successors, assigns, legal representatives, heirs, executors and administrators of Grantee, that certain real property located in _______________ County, Texas and more fully described in Exhibit A hereto, together with (i) any and all appurtenances belonging and appertaining thereto; (ii) any and all improvements located thereon; (iii) any and all appurtenant easements and rights of way affecting said real property and any of Borrower’s (or Borrower’s successors, assigns, legal representatives, heirs, executors and administrators) rights to use same; (iv) any and all rights of ingress and egress to and from said real property and any of Borrower’s (or Borrower’s successors, assigns, legal representatives, heirs, executors and administrators) rights to use same; (v) any and all of Borrower’s (or Borrower’s successors, assigns, legal representatives, heirs, executors and administrators) rights and interests in and to any and all mineral rights and interests relating to said real property; (vi) any rights and interests of Borrower’s (or Borrower’s successors, assigns, legal representatives, heirs, executors and administrators) in and to all leases, if any, covering all or any portion of said real property; and (vii) all right, title and interest of Borrower’s (or Borrower’s successors, assigns, legal representatives, heirs, executors and administrators), if any, in and to (a) all roads, streets and ways affecting, crossing or bounding said real property, (b) any and all strips, gores or pieces of property abutting, bounding or which are adjacent or contiguous to said real property and (c) any reversionary interests in and to said real property or any part thereof (said real property together with any and all of the related improvements, appurtenances, rights and interests referenced in items (i) through (vii) above are hereinafter collectively referred to as the “Premises”).
TO HAVE AND TO HOLD the Premises, together with all and singular the rights and appurtenances thereto, unto Grantee, and the successors, assigns, legal representatives, heirs, executors and administrators of Grantee forever, and the undersigned in his capacity as Substitute Trustee, by virtue of the authority conferred by the Deed of Trust and the Appointment of Substitute Trustee, does hereby bind and obligate, so far as he is authorized to do so, Borrower and Borrower’s assigns, legal representatives, heirs, executors and administrators, to forever warrant and defend title to the Premises to Grantee, and the heirs, executors, administrators, legal representatives, successors and assigns of Grantee, against every person whomsoever lawfully claiming or to claim the same or any part thereof.
This Deed and conveyance are made subject to all matters of record which are prior to the Deed of Trust and are a superior interest therein to the full extent same affect title to the Premises.
The address for Grantee for all purposes hereunder is ______________________, ___________________________.
EXECUTED this ____ day of _______________, 20______.
_________________________________________
, Substitute Trustee