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stated herein or any address Beneficiary designates by notice to borrower. Any notice provided for in this Deed of Trust <br /> shall be deemed to have been given to Borrower or Beneficiary when given as provided in this section. <br /> 16. ACCELERATION IN CASE OF BORROWER'S INSOLVENCY. If Borrower shall voluntarily file a <br /> petition under the Federal Bankruptcy Act,or under any Federal statute relating to bankruptcy, insolvency,arrangements <br /> or reorganizations,or under any state bankruptcy or insolvency act or otherwise admits insolvency or is adjudged <br /> insolvent or a receiver is appointed for Borrower or the Property,then Beneficiary may,at Beneficiary's option,declare all <br /> of the sums secured by this instrument to be immediately due and payable without prior notice to Borrower. Any <br /> attorney's fees and other expenses incurred by Beneficiary in connection with Borrower's bankruptcy shall be an <br /> additional indebtedness of Borrower secured by this Deed of Trust. <br /> 17. HAZARDOUS MATERIALS. Borrower warrants that: <br /> (i) the Property shall be kept free of Hazardous Materials. <br /> (ii) Borrower shall not permit the installation,generation,transportation,or release of <br /> Hazardous Materials in or on the Property. <br /> (iii) Borrower shall at all times comply with all applicable Environmental Laws affecting the <br /> Property and shall keep the Property free and clear of all liens imposed pursuant to any <br /> Environmental Laws. <br /> (iv) Borrower shall immediately give Beneficiary oral and written notice in the event that <br /> Borrower knows of a violations of these warrants or receives any notice from any <br /> governmental agency or other party with regard to Hazardous Materials affecting the <br /> Property. <br /> Borrower hereby agrees to indemnify Beneficiary and hold Beneficiary harmless from any losses,liabilities, <br /> damages, injuries(including but not limited to attorney's fees)and claims incurred or suffered by or asserted against <br /> Beneficiary,as a direct or indirect result of any warranty or representation made by Borrower in this paragraph <br /> (Hazardous Materials)being false or untrue in any material respect. <br /> For purposes of this Deed of Trust,"Hazardous Material"means petroleum products,any flammable explosives, <br /> radioactive materials,asbestos or any material containing asbestos,and/or any hazardous,toxic or dangerous waste, <br /> defined as such in the Environmental Laws. <br /> For purposes of this Deed of Trust,"Environmental Laws"means the Comprehensive Environmental Response, <br /> Compensation and Liability Act, the Hazardous Materials Transportation Act,the Resource Conservation and Recovery <br /> Act,any"Superfund"or"Superlien"law,or any other federal,state or local law relating to standards of conduct <br /> concerning any petroleum products,any flammable explosives,radioactive materials,asbestos or any material containing <br /> asbestos,and/or hazardous,toxic or dangerous waste. <br /> 18. GOVERNING LAW. This Deed of Trust is to be governed and construed in accordance with the laws of the <br /> State of North Carolina. <br /> 19. SUCCESSORS AND ASSIGNS. The covenants herein contained shall bind,and the benefits and <br /> advantages shall insure to the legal representatives,successors and assigns of the parties hereto. <br /> IN TESTIMONY WHEREOF,Borrower(s)has executed this instrument under seal on the date first above <br /> written. <br /> BORROWER(S): <br /> (Seal) (Seal) <br /> (Typed Name) (Typed Name) <br /> NORTH CAROLINA <br /> COUNTY <br /> 1, ,a Notary Public of said County and State do hereby certify <br /> that personally appeared before me this day and acknowledged the due execution <br /> of the foregoing instrument. <br /> Witness my hand and notarial seal,this the day of , 19 <br /> Notary Public <br /> My Commission Expires: <br /> 3 <br />