CONDITIONS. THE
LOAN DOCUMENTS ARE INTENDED TO BE PERFORMED IN ACCORDANCE WITH, AND ONLY TO THE
EXTENT PERMITTED BY, ALL APPLICABLE LEGAL REQUIREMENTS. IF ANY PROVISION OF ANY
OF THE LOAN DOCUMENTS OR THE APPLICATION THEREOF TO ANY PERSON OR CIRCUMSTANCE
SHALL, FOR ANY REASON AND TO ANY EXTENT, BE INVALID OR UNENFORCEABLE, THEN
NEITHER THE REMAINDER OF THE INSTRUMENT IN WHICH SUCH PROVISION IS CONTAINED NOR
THE APPLICATION OF SUCH PROVISION TO OTHER PERSONS OR CIRCUMSTANCES NOR THE
OTHER
29
INSTRUMENTS REFERRED TO HEREIN SHALL BE AFFECTED THEREBY, BUT RATHER SHALL BE
ENFORCED TO THE GREATEST EXTENT PERMITTED BY LAW.
12.9
COUNTERPARTS. TO FACILITATE EXECUTION, THIS DEED OF TRUST MAY BE
EXECUTED IN AS MANY COUNTERPARTS AS MAY BE CONVENIENT OR REQUIRED. IT SHALL NOT
BE NECESSARY THAT THE SIGNATURE AND ACKNOWLEDGMENT OF, OR ON BEHALF OF, EACH
PARTY, OR THAT THE SIGNATURE AND ACKNOWLEDGMENT OF ALL PERSONS REQUIRED TO BIND
ANY PARTY, APPEAR ON EACH COUNTERPART. ALL COUNTERPARTS SHALL COLLECTIVELY
CONSTITUTE A SINGLE INSTRUMENT. IT SHALL NOT BE NECESSARY IN MAKING PROOF OF
THIS DEED OF TRUST TO PRODUCE OR ACCOUNT FOR MORE THAN A SINGLE COUNTERPART
CONTAINING THE RESPECTIVE SIGNATURES AND ACKNOWLEDGMENT OF, OR ON BEHALF OF,
EACH OF THE PARTIES HERETO. ANY SIGNATURE AND ACKNOWLEDGMENT PAGE TO ANY
COUNTERPART MAY BE DETACHED FROM SUCH COUNTERPART WITHOUT IMPAIRING THE LEGAL
EFFECT OF THE SIGNATURES AND ACKNOWLEDGMENTS THEREON AND THEREAFTER ATTACHED TO
ANOTHER COUNTERPART IDENTICAL THERETO EXCEPT HAVING ATTACHED TO IT ADDITIONAL
SIGNATURE AND ACKNOWLEDGMENT PAGES.
12.10
GOVERNING LAW. THIS DEED OF TRUST IS EXECUTED AND DELIVERED AS AN
INCIDENT TO A LENDING TRANSACTION NEGOTIATED AND CONSUMMATED IN DALLAS COUNTY,
TEXAS, AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF TEXAS.
12.11
CONTROLLING AGREEMENT. IN THE EVENT OF ANY CONFLICT BETWEEN THE
PROVISIONS OF THIS DEED OF TRUST AND ANY OF THE OTHER LOAN DOCUMENTS, IT IS THE
INTENT OF THE PARTIES HERETO THAT THE PROVISIONS OF THIS DEED OF TRUST SHALL
CONTROL. THE PARTIES HERETO ACKNOWLEDGE THAT THEY WERE REPRESENTED BY COMPETENT
COUNSEL IN CONNECTION WITH THE NEGOTIATION, DRAFTING AND EXECUTION OF THE LOAN
DOCUMENTS AND THAT SUCH LOAN DOCUMENTS SHALL NOT BE SUBJECT TO THE PRINCIPLE OF
CONSTRUING THEIR MEANING AGAINST THE PARTY WHICH DRAFTED SAME.
12.12
SUBROGATION. IF ANY OR ALL OF THE PROCEEDS OF THE NOTE HAVE BEEN
USED TO EXTINGUISH, EXTEND OR RENEW ANY INDEBTEDNESS HERETOFORE EXISTING AGAINST
THE MORTGAGED PROPERTY, THEN, TO THE EXTENT OF SUCH FUNDS SO USED, BENEFICIARY
SHALL BE SUBROGATED TO ALL OF THE RIGHTS, CLAIMS, LIENS, TITLES, AND INTERESTS
EXISTING AGAINST THE MORTGAGED PROPERTY HERETOFORE HELD BY, OR IN FAVOR OF, THE
HOLDER OF SUCH INDEBTEDNESS AND SUCH FORMER RIGHTS, CLAIMS, LIENS, TITLES, AND
INTERESTS, IF ANY, ARE NOT WAIVED BUT RATHER ARE CONTINUED IN FULL FORCE AND
EFFECT IN FAVOR OF BENEFICIARY AND ARE MERGED WITH THE LIEN AND SECURITY
INTEREST CREATED HEREIN AS CUMULATIVE SECURITY FOR THE REPAYMENT OF THE
INDEBTEDNESS AND THE PERFORMANCE AND DISCHARGE OF THE