, LexisNexis(R) Forms FORM 727-72A.210

Summary

1. This subordinated deed of trust is made this day of [date], between [name of property owner or other person incurring lien] (Trustor), of [specify street, city, state, zip], [name of lienholder] (Beneficiary), of [specify street, city, state, zip], and [name of trustee] (Trustee), [if trustee is an individual, of (specify street, city, state, zip) or if trustee is a corporation, a Texas corporation].

2. The Trustor grants, transfers, and assigns to the Trustee and the Trustee’s substitutes or successors, in trust and with power of sale, the certain property located in the City of , County, Texas, and described below, together with the rents, issues, and profits from that property. This conveyance is subject, however, to the right, power, and authority given to and conferred on the Beneficiary by Paragraph [specify paragraph number of recorded long form of trust deed] of the provisions, which are incorporated in this Deed of Trust by reference, to collect and apply the rents, issues, and profits. The legal description of the property that is subject to this Deed of Trust is as follows: [set forth metes and bounds legal description].

3. This conveyance is made in trust for the purpose of securing each of the following:

(a) Performance of each agreement of Trustor incorporated by reference or contained within this Deed of Trust.

(b) Payment of the indebtedness, and of any extension or renewal of the indebtedness, evidenced by the promissory note in the principal sum of $ executed on the same date as this Deed of Trust by the Trustor in favor of the Beneficiary or payable to the order of [name of payee] [add if the trust deed is a purchase money encumbrance, and that is given as a part of the purchase price of the property described in Paragraph 2].

(c) Payment of any sums that the then record owner of the described property may subsequently borrow from the Beneficiary when evidenced by another note or notes reciting that the later indebtedness is secured by this Deed of Trust.

4. To protect the security of this Deed of Trust, the Trustor agrees that by the execution and delivery of this Deed of Trust and the note that it secures, [give definite identification of provisions in master form of trust deed incorporated by reference, e.g., Paragraphs through inclusive or each Article except Articles and ] of the master deed of trust recorded on [date], in volume , beginning at page , of the [specify title of official records, e.g., Deed] Records for County, Texas, are adopted and incorporated in this Deed of Trust, and the specified provisions are made a part of this Deed of Trust as fully as though set forth at length within it. The Trustor further agrees that the references to property, obligations, and parties in the specified provisions shall be construed to refer to the property, obligations, and parties set forth in this Deed of Trust.

5. The Trustor acknowledges that [he or she] has received a full copy of the master deed of trust, including the provisions specified in Paragraph 3 of this Deed of Trust. The Trustor additionally acknowledges that [he or she] understands the specified provisions and agrees to observe and perform them.

6. This Deed of Trust shall, provided that no notice of default under its terms appears of record, be subject to one or more [specify types of encumbrances, e.g., deeds of trust] to be subsequently executed by the Trustor, or the Trustor’s successor in interest, and to be secured by the property described in Paragraph 2. This subsequent encumbrance shall be incurred to secure construction loans for the purpose of constructing improvements on all or a portion of the described property, provided:

(a) The total amount of all the construction loans shall not exceed $.

(b) Any funds derived from any construction loan placed on any portion of the described property shall be used only for the construction of improvements on the portion of the described property that the construction loan encumbers.

(c) No construction loan placed on any portion of the described property shall exceed percent of the anticipated value of the portion of the described property after completion of the improvements that the construction loan was obtained to finance.

(d) No portion of any construction loan shall be used to pay loan fees, interest, or other charges not directly connected with the construction of improvements on the portion of the described property encumbered by the construction loan.

(e) No construction loan shall bear interest, exclusive of late charges, penalties, or fees payable in case of default, greater than percent each year.

(f) Each construction loan shall be payable over a period of time of not less than months or more than years.

(g) The total payments due on all construction loans shall not exceed $ each month.

(h) Each construction loan shall be made by a bank, life insurance company, correspondent of a life insurance company, building and loan association, savings and loan association, or other institutional lender.

7. The Trustee shall mail a written copy of any Notice of Default and of any Notice of Sale under this Deed of Trust to the Trustor at the address stated in Paragraph 1 or at the most recent address provided in writing to the Beneficiary by the Trustor after execution of this Deed of Trust.

8. If all or any part of, or any interest in, the property described in Paragraph 2 is sold, agreed to be sold, conveyed, or alienated by the Trustor by operation of law or otherwise without the prior written consent of the Beneficiary, all sums secured by the described property under this Deed of Trust shall immediately become due and payable at the option of the Beneficiary. Consent to one of these transactions shall not be deemed to be a waiver of the right to require prior consent to future or successive transactions.

Dated: