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<br />TO HAVE ANO TO rsOEO Ld Prerrtnes wqh all pnvrkgy and aptwrtMances thereumo bebnpng, to sad Trustee, hrs here. wccesbrs..nd asNgns brevet, upon Ue tmus.:erms and conbngns. ann +o..hr ~~,r>
<br />herNr•a(ttr st! forth.
<br />If the C+anbr shat/ pay the Noee secured hereby n KcordarKt wnh rq terms, together wnh interest tfitrtOn, and any renewals or eaensans thereof rn whole or m pan, all other wms srKUrrd hrrrbv and .had ; un, V Ir .. „r
<br />all of the covenants, terms and condNbns of this Deed of Truss, then this conveyance shah be null and vod and may De cancNled of rKOrd a the request and the a:pence of the Cramor. if, nowevrr, there snarl br a.nv
<br />de(auq V) in the payment of any wms dw under the Note. this Geed of Tray or any otMr instrument secunn{ the Note and such defauk is not cured wnhm IM 1101 days from the due date. or ibl .f Uere shall be delaurt n
<br />any of the aher corMrts. terms or caditgnt of the Note second hereby, or any fauun or neyact to comply wyh the CoyMams, terms Or condUlons cbntamed rn thrs Geed Of Trust or any aher +nurument sKynng the
<br />Note and such dNauN a nor cured wnhet fiheM It Sl days aher wmten rotKe. )hen and in any arch evMtt. wNhout further nOlict. N shall be lawful bt and the doh Of tM TNyet. upon mqulsl Or th! BenrIKWN Io >r11
<br />• ~ hereto conveye0 y pubic asresbn for cats. aher hy^^fl ~ gwelg surfs nalce W hearing as to canmarKemem W brecbwn proceadintt and obtaeted such fedjnga or lease a( coon as mar IhM Or required by w.«
<br />~ n Nurtder Kpower d~sak ro ~~ tirM and plKe Of wch uk m such manner as maY then bt provided by law, and upon such area any resales and upon compliance wnh the law then rtlrunltt{ w rurrcto,rre
<br />p vsy Lek M the ptaeehaser rn as (uN and ample manner as the Truyee n empowered. The Trustee shall be awhoruad Io ream an anorney Io repnstm him .n such unx enlrnps
<br />The proceeds of the Sale shag aher the iruyw teaita his commiuion, Ippthtr wnh nalpsUfak allOfnlye feM incYrnd by Iht TNyet M NKh pnKlMfing, be applied b tM cOAS to wk. N+chdmg, but rWl Inn+l.•U hi r u4a
<br />of colkctbn, toots. assusments. costs o/ recordit~ ferrite lees and incdenW exptrditures. the amount dw on the Nae hereby secwed and advancements and aher wins expended by the 8enefKrary aaaurd+ng w Inv
<br />provlsbns hereof and otherwise as raqurred by Ills Illelf e>oslistg law Hying to breebwras. TM Truyee's commission shag be Rve em tStl O) the grow Proceeds of Nf sale or the mmrmwn win of f
<br />c hKOmmrssrm comater, b~ ~ pkted bteclowee. N tM event bnckfsun rs cammertced, bw not cortttsleted, tlN Granbr shag pay all eslsMrs eKUrnd by TruyM, rrtcluding nasonabfe anomeys ices. and a wrtrai
<br />per ten ISy11 d the rtdebtedltea a tla above stead milamum win. whichever is greater, in accordaltce with the sctraduk. Io-we: orte•btrrth 1 MII thelep/ before tree rn„tee
<br />issws a ratite hearing on the right b bnclowre: err l'A1 thereof after iswanee of said mice; thret•buMs 1~1 thereo(aAer wch hearing; and the `reaar o the full commrsron or minimum win anti the +nraal ulr
<br />And the said Granbr does hereby covMam and agree wish the iruyee as foBowc
<br />I .INSURANCE. Grantor shall keep all Nrfproverrsents on sad land, now or henaMr trtKted, conwntly inwnd br dte benefit of the 8enefKiary apNty bu by fire, wvtdyorm and such other cawalttes and crlrtangenc+rs.
<br />.n such manner and in such companies and fpr wch amounts, nq less than thy amount nKelfieY to paY Iht win sKYred by Ihy Deed of TruY, and it may bt Llrsfaclory 10 Inc glnrilrNry. Grantor shall Irurchux• wa h
<br />+nwraMe. pay all pnmwms therefor, and shall deliver to gtntfKra/y firth pohcits along rriM evtderKe of premiwn paymMt as long as the Note secured hereby remains unpad. II Granor ails ro pun:hase wch rnwrarue.
<br />PaY Premiums therefor or deliver ud poitses abng wch errdesKe d payment of premiums thereon, then BMeficiary, y his opton, may purchar such rnwrance. Such amounts pad by 8eneficury shall be added to Inc
<br />pnncrpal o(tnt Noe located by this Geed o(iruy. and shag be diet and payable upon demand d BaneRciary. Aq proceeds from any inwrance b mamnNSed shall at the Option of BMNitlary be applied ro the debt srcurM
<br />hereby and if payaflk rn rnyallmMri. applied in lht invert older M myumy of wch inlagmann or t0 the repair or rKOnyrtxtton of any rmprovemMts Iocattd upon the PropenY.
<br />1. TAXES, ASSESSMENTS, CI IARGCS. C7 /.mlrl! Jt.lq IMy.IN lairs, .IWwM•IIN .Intl 1'hagp•a as may ht• IawbNy IPVNYf .fgamV vNl PN•mIV•\ Wr111p1 Ihlny I NII d.Wa •rnl•I IIN• brrr• .hall 1.~ unw• trot' In rh.~ .~.,~ur +h..r r .+,,nun
<br />IJIIs 10 s0 WY 1II lairs. alK1NllCn/r DINS charges err hrrrrl regYNNd, Ihan gamairK Wry, Jl his u/NrrM, may pay IM f.lnte ant) the aI11YynIS w yrNl sII.III lu addaW IY II1l' prrrx t/wI Ur IIN• NrNr x« Ufa'll hr Ihy Ua~..l .a 1 +,• V .,,..1
<br />shall be Out and payable upon demand of 8enefKisry.
<br />1. ASSIGNMENTS Of RENTS ANO PROFITS. Gramos iN~nf b BerteBNalY, in the erem o(defauR. aq reefs and plWhs from the 4nd and any rmprovemMts thereon, and wtlfOnaM flMdlcury to Mter upon and takr possefsron
<br />of such land and imprOVementi b rent same. at any reasonable qa d rem desemtrrlad by BertefKiary, and aMr dedtr-tvt{ (ram any fuck rents the coo of nleeefg and colkctblt, b appN the rrmaedlr b the Oral secured htRby
<br />•. PARTIAL RELEASE. Grantor shah not M MtNkd b tM partial release of any of the above described property unku a spectfK provisgn provding therefor rs included rn this Oeed of Trust. In the event a oartral rrlrat!
<br />provrslorl is included in ton Oeed of Tray. Granbr must yncW comply wills the terms thereof. Notwtthsssnding astything hereto conumed. Gramor shall rot be Hafted to any retrace n! pmPr rev unlrss Cr.lnrr.r .s +urt .n
<br />dt(auN and is +n full cwn/Nianc¢ wNh aN n( tha• Itm1s and provisjone d the Note, this Oted OI TNy, anA any ahN insrumrnt that may err +rrurine s,fd NtNI•.
<br />5. WASTE. The Gramor corMants that hr wdl krtp the Premise herein conveyed in as good order, rrpau sod condabn as they an now, nawnablr veto and war rxceysrd. and wdl aunylly wch .ru ~r~„•r+.r.+,~,+r,I
<br />regwnmens rttspectrng the Premises or )heir use, and )hat he wtq not tomme Or peftml MY wage,
<br />6. CONDEMNATION. In the event that any Ot aN O( dt! Irerrtisee dtaq bt Condemned old 4ken under the poster M eminent domain, Granbr shall give rmnttdjaa wntlen notKt 10 B!nlfKrary and BMefKUN shall havr
<br />Iht right ro recnve and collect all damages awarded by reason al such talung, and the ngM to such damages hereW n-assigned b 8elteeiciary who shag have the discretion to spply th! amount b rKerved. or any Dart
<br />thereof, b the indebtedness due herweder and it payable in insallmena, applied in the inverse order of mawnry of wch insulletents, or b any agentbn, repair or royoruton O do Pnmlrs by Granbr.
<br />7 wARRANTIfS. Granror covenants with Trustee and Beneficiary that he is sejatd olthe Pamirs in lee simple, has tM right to convey the same rn fee simple. that tNk is markeubk and fret and ctrar of aN encumbrances.
<br />and that ht wig warraett and tfetend die tick against the lawful t:tsims o(aq penbns whomsoever, tacep br Ott tfKepions heretnafke gated. Title b tltt property htreirtabove described is wbtect to the btlOwmg exceptwns
<br />Easements and restrictions of record.
<br />B. SUBSTITUTION Of TRUSTEE. Granbr and Trusee covenant and apse Io and with BeeteAekey that in car the sad Trvyee, or arty succeaor trustee, shag die, tfeeonte incapable o(atung, rMOUnce his truN, or for am
<br />reason tfie holder d die Nose desires b replace said Trustee. dtui dfe holder may appoey, n writing, a wfpe b eke dr place of the Trustee: and upon die pgbate old regiywtton of the faint. the trustee Thus appo.med
<br />shall succeed to sq righa, power and dunes d flit Truyee.
<br />r THE FOLLOWING -ARAGRA-H, !• SALE Of -REMISESr SHALL NOT A-KY UNLESS iME gIOCK TO THE IEfT MARGIN OF THIS SENTENtF Is
<br />l MARKED AND/OR tNIT1AlED.
<br />S. .E Of PREMISES. Grantor agrees that N the Premises or arty past thereof a iltterefs therein is sold, afaf'syd, tnnsaretd, conveyed p ghMwise agerwed by Grasyw, wlNlher rolumanly or mvoluntanly or br
<br />operation of 4w (other than: 1j1 the creation of a acre or other Mcunib/alKe wbstdfeuse b Otis Deed d Tngt which does nor telex b a transfer of righs o(accupalfcy rn die Pasnises; list the cnatton of a pu rchase mover
<br />secumy imerey (or household appliances: lull a tramfer by detrir. ttesceltt. or operyion al laev pre 1M deeds d a loistl serum or ttnaett tW the enieety; fM the pasty of a leasehold interey o(three 171 yeah or less nor conlarn
<br />n`` an option to pun:har: NI a transler b a relative nwkittg from the deylt of a Grantor: tvjl a tranflerwhere the ssppoorut or children o(tM Granor becoetie the ownero/ tltt Pnmisn: (rat a transkr rewhmg rrom a der tee of
<br />a dissalutbn of manage, legal sepuatbn agreemeln, w ban sn ineidargal sealentettt apaeritwft, a whiclirthe spouse o(the Graleor becornes an owner of the Premises; Iviiil a transfer vino an inter v+vos vast .n
<br />whkh the Granbr Is and remains a berkficury and which dyes not orate a a t of rialtts o(xcutwteY in the -remi~, wlthous the prat wrnan consent d Bertericiasy genefKiary, at Ns own Option. may dKlare the
<br />Nae secured hereby and aN aher obigatbes hereunder b bt forthwith dw and payable Any change wf the kpl or equeable utk of the Premises a in Ihf keneficial owntrshp of the Premsses. including the sale.
<br />conveyance or dispoylion of a mapnry many in tM Gryttor d a corporation Or paroteMip, whatlier or not d retold and whNher or rqt br conslderatbn, shag bt deemed b be the tnnskr of an urteny m the Premyes.
<br />10. ADVANCEMENTS. M Gramor shah lad b peefortnyry d the covenyes or obigyiom contained herein a in ether myrumem gtren as addirosul securey for the Nose secured hereby, the BarsefKUry mar. but .. snout
<br />obliylron, make advances b peebnn such covenants or Obllpdpnf, yid aY 1trtli wms fo advasKed shag be added b fht prirKyal win. shah hear NfaN! at die raa pOVdtl in the nba fecund hereby for awns due aver tlruu h
<br />,red shall be dw from Gramor on demand of tfle Beneiciasyr. Np atiwrKelftam a anNhing ComaMMd in this pyapaph shay ctNweua a waiver by Belteiciary a prevem such Eason b perform from comtewing an awrm ur drrauN
<br />I INDEMNITY. II any wn nr nnaceeninR he Aaau ~ againa Me Trvyer nr MsrRnary nr it any vent nr pnxcrdine Ifc bmufsM which may aKrs fht rake or IM4 n(the Premnra, Granwr Jsall rk•knd. +mh•mn+rr ..r+.t hr+l.f
<br />hrrmlra aMl un Jtvnard rrNnburx• TNyel• W KKtry from any kifa. awl. damage W ex/irnr amt any slrrM ex/MYNINI liy Truslaw W g1YNylC Wry shag Iirar rnwny as p/YVtdt•II rn Iht• rVrNr xa urad hrn•hr ~••, •..++...I...•
<br />aher defauk and shall he Our rod /say.hk on rkmarwl.
<br />12. WAIVERS. Gramor wanes rN rlgfNS to require maMaNing e(aseess by the iruyat a Barn~icifry. No drlay a oretasiun of fir irusert• W gcrN•ficury in the r:rrcne e(any ngM, t~nn•r ur n•rm•t!y arnrng un.i.•r +h.~ v.,+.~
<br />or this Geed of Troy shall be deemed a waiver O( any de(aYh Or KRyieeCMte lhinin W fhaY rttpijr Or want tftt exeKhe of such rrgh4 yuwer or rMteOy fry TNwe or Ilefwficwry at any other hint.
<br />11. CIVIL ACTION. In the event shy the Trustee K named ri a party b arty cirq aaion as Troyee in this Decd of TryA. Iht Tnsyee shall be emitted 1o empty an aaomey y kw. including himself +I he ~s a I+crnae0
<br />anomeY, t0 represent him in said action and the reasonab4 ybntey's lee tIl tM Tnnae in wch anion shah be paid by the BMefKisry and added b ttte pmcipal of the Nor second by this Oced of T ray and bear .n Ir.e,I a r
<br />the raft provNled m the Nar foe wms Aue ahrr defauk.
<br />sa. PxIE}R lsENf, lhlauh antler IM trmis ur any mvtrwltani srrunrl by a IN•n b which this Ikav1 fd Tray n wllunlrlah• Jsa11 arNS.tuuN• Ih•(ruN M•n•wNkr.
<br />IS. UTHER TERMS.
<br />N wITNE55 WHEREOF, the Gramor has hentmts sw his hand and seN. or i(caporaa, has cwsed this inyrument ro tk Ngned in Ns corporan name by its duly aulhenzed olRcers old its seal ro De nrreunw an.. eJ b~
<br />suthonry of its Board of DilMOn, the day and Year fast shore wmten.
<br />(Corporate Name) ~„
<br />ORANGE COUNTY. NORTH CAROLINA O sEA~t
<br />BY c
<br />!SEAL:
<br />President ~
<br />ATTEST: ~
<br />m ~S E.~ l I
<br />Secretary (Corporate Seal) ~ , y E ~ ~ I
<br />SEAL•STAMP NORTH CAROLINA, County.
<br />1, a Notary Public of the County and state aforesaid, certify that
<br />Grantor
<br />~ personally appeared before me this day and acknowledged the execution of the foregoing instrument. witness my nand and
<br />~ official stamp or seal, this day of 19
<br />My Commission expires: vr,t,Ir, i',ai~ic
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