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improvements thereon and all repairs thereto and replacements <br /> thereof to be located on the Site (collectively, the <br /> "Improvements") ; <br /> TOGETHER with all rights, appurtenances, easements, <br /> privileges, remainders and reversions appertaining thereto, <br /> including all of the Grantor' s right, title, and interest in and to <br /> any lease or leases now existing or hereafter made for all or any <br /> part of the Site and/or Improvements, together with all rents, <br /> income, profits, revenues, proceeds, and royalties due and becoming <br /> due therefrom (collectively, the "Rents") ; <br /> Unless specifically designated otherwise, the Site, the <br /> Improvements and all rights, appurtenances, easements, privileges, <br /> remainders and reversions appertaining thereto, including the <br /> Rents, are referred to collectively herein as the "Property"; <br /> TO HAVE AND TO HOLD the Property to the Trustee, his <br /> successors and assigns, upon the trusts and for the uses and <br /> purposes hereinafter set out; provided, however, that <br /> THIS CONVEYANCE IS MADE UPON THIS SPECIAL TRUST, that if the <br /> Grantor shall pay the sums due under the Contract secured hereby in <br /> accordance with its terms, and shall comply with all the covenants, <br /> terms and conditions of this Deed of Trust and the Contract, then <br /> this conveyance shall be null and void and may be cancelled of <br /> record at the request and at the cost of the Grantor. <br /> All fixtures that comprise a part of the Property shall, to <br /> the extent permitted by law, be deemed to be affixed to the Site <br /> and conveyed therewith. This Deed of Trust shall also be <br /> considered to be a security agreement which creates a security <br /> interest in such fixtures for the benefit of the Beneficiary. In <br /> that regard, Borrower grants to the Beneficiary all of the rights <br /> and remedies of a secured party under the North Carolina Uniform <br /> Commercial Code. <br /> Article I. General Covenants of Grantor. <br /> Grantor covenants and agrees with the Trustee and Beneficiary, <br /> or any successor in title as holder of the Contract secured hereby, <br /> as follows: <br /> 1.1 The Secured Obligations. This Deed of Trust secures (i) <br /> the payment of any amount due the Beneficiary under the Contract; <br /> (ii) the payment of any and all other amounts which this Deed of <br /> Trust by its terms secures; and (iii) the performance of the <br /> covenants and agreements contained in this Deed of Trust by <br /> Grantor. <br /> It is the intention of the parties hereto that this Deed of <br /> Trust is made and executed to comply with the provisions of <br /> N.C.G.S. § 45-67, et sea. , and shall secure any and all present and <br /> future obligations which Grantor now or may hereafter owe to the <br /> Beneficiary (but in no event incurred more than fifteen (15) years <br /> 2 <br />