Clauses Extending Existing Liens
Extension of Existing Deed-of-Trust Lien
The Note renews and extends the balance of [amount] DOLLARS ($[amount]) that Grantor owes on a prior note in the original principal amount of [amount] DOLLARS ($[amount]), which is dated [date], executed by [name], and payable to the order of [name]. The prior note is more fully described in and secured by a deed of trust on the Property, which is dated [date] and recorded in [recording data] of the real property records of [county] County, Texas. [Include if applicable: The prior note and the lien securing it have been transferred to Lender.] Grantor acknowledges that the lien securing the prior note is valid, that it subsists against the Property, and that by this deed of trust it is renewed and extended in full force to secure payment of the Note.
Extension of Existing Deed-of-Trust Lien and Security for Cash Advanced
The Note renews and extends the balance of [amount] DOLLARS ($[amount]) that Grantor owes on a prior note in the original principal amount of [amount] DOLLARS ($[amount]), which is dated [date], executed by [name], and payable to the order of [name]. The prior note is secured by a deed of trust on the Property from [name] to [name], Trustee, dated [date] and recorded in [recording data] of the real property records of [county] County, Texas. [Include if applicable: The prior note and the lien securing it have been transferred to Lender.] The Note also represents [amount] DOLLARS ($[amount]) in cash that Lender advanced to Grantor on [date] at Grantor’s request. Grantor acknowledges receipt of the amount advanced. Grantor acknowledges that the lien securing the prior note is valid, that it subsists against the Property, and that by this deed of trust it is renewed and extended in full force until the Note secured by this deed of trust is paid.
Extension of Existing Vendor’s Lien and Deed of Trust
The Note renews and extends the balance of [amount] DOLLARS ($[amount]) that Grantor owes on a prior note in the original principal amount of [amount] DOLLARS ($[amount]), which is dated [date], executed by [name], and payable to the order of [name]. The prior note is secured by two instruments, both of which create liens against the Property: a deed retaining a vendor’s lien from [name] to [name], dated [date] and recorded in [recording data] of the real property records of [county] County, Texas; and a deed of trust from [name] to [name], Trustee, dated [date] and recorded in [recording data] of the real property records of [county] County, Texas. [Include if applicable: The prior note and the liens securing it have been transferred to Lender.] Grantor acknowledges that the liens securing the prior note are valid, that they subsist against the Property, and that by this deed of trust they are renewed and extended in full force until the Note is paid.
Extension of Mechanic’s Lien Contract
The Note renews and extends the balance of [amount] DOLLARS ($[amount]) that Grantor owes on a prior note in the original principal amount of [amount] DOLLARS ($[amount]), which is dated [date], executed by [name], and payable to the order of [name]. The prior note is secured by a mechanic’s lien contract creating a lien on the Property, dated [date] and recorded in [recording data] of the real property records of [county] County, Texas. [Include if applicable: The prior note and the lien securing it have been transferred to Lender.] Grantor acknowledges that the lien securing the prior note is valid, that it subsists against the Property, and that by this deed of trust it is renewed and extended in full force until the Note is paid.
Alternative Renewal and Extension Language
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If clause 8-4-5 is used, its language should replace the last sentence in one of the preceding clauses, which begins “Grantor acknowledges that the lien(s) securing the prior |
Grantor acknowledges and agrees that this extension and renewal will not be considered a novation of account or a new contract but that all rights, titles, powers, liens, security interests, and estates created by the prior note and deed of trust securing it constitute a valid and subsisting lien against the Property. Grantor also acknowledges that by this deed of trust Lender and Lender’s heirs, successors, and assigns are subrogated to all rights, titles, powers, security interests, and liens that accrued to the original holder and owner of the prior note.
Extension of Prior Lien to Be Released, Not Assigned
The Note represents the amount of [amount] DOLLARS ($[amount]) in cash that Lender advanced to Grantor and that Grantor used [include if applicable: in part] to discharge a prior note in the original principal amount of [amount] DOLLARS ($[amount]), which is dated [date], executed by [name], and payable to the order of [name]. The prior note is secured by a deed of trust on the Property from [name] to [name], Trustee, dated [date] and recorded in [recording data] of the real property records of [county] County, Texas. Grantor acknowledges that the lien securing the prior note is valid, that it subsists against the Property, and that by this deed of trust it is renewed and extended in full force until the Note is paid, even though the prior lien is released and not assigned to Lender.
Extension of Lien to Only Part of Property
The Note represents the amount of [amount] DOLLARS ($[amount]) in cash that Lender advanced to Grantor and that Grantor used [include if applicable: in part] to discharge a prior note in the original principal amount of [amount] DOLLARS ($[amount]), which is dated [date], executed by [name], and payable to the order of [name]. The prior note is secured by two instruments, both of which create liens against real estate that includes the Property: a deed retaining a vendor’s lien executed by [name] to [name], dated [date] and recorded in [recording data] of the real property records of [county] County, Texas; and a deed of trust from [name] to [name], Trustee, dated [date] and recorded in [recording data] of the real property records of [county] County, Texas. Grantor acknowledges that, to the extent they cover the Property, the liens securing the prior note are valid, that they subsist against the Property as well as the other real estate, and that by this deed of trust they are renewed and extended in full force until the Note is paid.