Orange County NC Website
Browse       Search
Registry. The Property is further identified as Orange <br />County P.I.N. 9844 -91 -1497 and has an Orange County tax map <br />reference of 3.45..14. <br />TO HAVE AND TO HOLD said Premises with all privileges and <br />appurtenances thereunto belonging to said Trustee, his heirs, <br />successors, and assigns forever, upon the trusts, terms and <br />conditions, and for the uses hereinafter set forth. <br />If the Grantor shall pay the Note secured hereby in accordance <br />with its terms, together with interest thereon, and any renewals or <br />extensions.thereof in whole or in part, all other sums secured hereby <br />and shall comply with all of the covenants, terms and conditions of <br />this Deed of Trust, then this conveyance shall be null and void and <br />may be cancelled of record at the request and the expense of the <br />Grantor. If, however, there shall be (a) any default in the payment <br />of any sums due under the Note or this Deed of Trust and such default <br />is not cured within 10 days from the due date, or (b) any default in <br />any of the other covenants, terms or conditions of the Note secured <br />hereby, or any failure or neglect to comply with the covenants, terms <br />or conditions contained in this Deed of Trust or any other instrument <br />securing the Note and such default is not cured within 20 days after <br />written notice, or (c) the occurrence of a Nonappropriation as <br />described in the Note, then and in any of such events, without <br />further notice, it shall be lawful for and the duty of the Trustee, <br />upon request of the Beneficiary, to sell the land herein conveyed at <br />public auction for cash, after having first given such notice of <br />hearing as to commencement of foreclosure proceedings and obtained <br />such findings or leave of court as may then be required by law and <br />after having first given such notice and having first advertised the <br />time and place of such sale in such manner as may then be provided by <br />law, and upon such and any resales and upon compliance with the law <br />then relating to foreclosure proceedings under power of sale to <br />convey title to the purchaser in as full and ample manner as the <br />Trustee is empowered. The Trustee shall be authorized to retain an <br />attorney to represent him in such proceedings. Notice under the Note <br />and this Deed of Trust shall be effective upon deposit in the United <br />States mail, postage prepaid, addressed to the appropriate party or <br />upon actual delivery. <br />The proceeds of the Sale shall after the Trustee retains his <br />commission, together with reasonable attorneys' fees incurred by the <br />Trustee in such proceeding, be applied to the costs of sale, <br />including, but not limited to, costs of collection, taxes, <br />assessments, costs of recording, service fees and incidental <br />expenditures, the amount due on the Note hereby secured and <br />advancements and other sums expended by the Beneficiary according to <br />the provisions hereof and otherwise as required by the then existing <br />law relating to foreclosures. The Trustee's commission shall be five <br />percent (5%) of the gross proceeds of the sale or the minimum sum of <br />$300 whichever is greater, for a completed foreclosure. In the event <br />foreclosure is commenced, but not completed, the Grantor shall pay <br />all expenses incurred by Trustee, including reasonably attorneys' <br />fees, and a partial commission computed on five percent (5%) of the <br />