Clauses Acknowledging Cash Advanced
To Individuals
The Note represents [amount] DOLLARS ($[amount]) in cash that Lender advanced to Grantor on this day at Grantor’s request and that Grantor acknowledges receiving.
To a Corporation
The Note represents [amount] DOLLARS ($[amount]) in cash that Lender advanced to Grantor on this day at its request and that it will use under its charter powers to discharge corporate debts. Grantor represents to Lender that its board of directors has authorized its legally elected, qualified, and acting officers to execute the Note and this deed of trust.
To Pay Ad Valorem Taxes
The Note represents [amount] DOLLARS ($[amount]) in cash that, at Grantor’s request, Lender advanced to pay the following taxes [include if applicable: , including penalties, interest, and collection expenses,] assessed and owed on the Property, which Grantor now owns: [amount] DOLLARS ($[amount]) to [county] County in payment of taxes for the years [specify]; and [amount] DOLLARS ($[amount]) to the city of [city] in payment of taxes for the years [specify].
Grantor agrees that Lender is subrogated to the rights, liens, and equities of the tax authorities paid, and the same are renewed and extended by this deed of trust until the Note is paid.
To Pay Income Taxes
The Note includes [amount] DOLLARS ($[amount]) that, at Grantor’s request, Lender advanced to the United States Internal Revenue Service to discharge federal tax lien number [number], which is recorded in [recording data] of the federal tax lien records of [county] County, Texas. Grantor agrees that Lender is subrogated to all rights, titles, and liens held by the tax authority under this federal tax lien, which Grantor acknowledges to be valid and subsisting, and the same are renewed and extended by this deed of trust until the Note is fully paid.