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shall bear interest at an annual rate equal to the rate in effect <br /> under the Contract, shall attach to and become part of the debt <br /> secured hereby, and shall be payable upon demand therefor, or if <br /> demand is not sooner made, on the maturity date set forth <br /> hereinabove. The failure to make payment on demand of advances <br /> made by Beneficiary pursuant to this Section 3 . 11 shall, at the <br /> option of the Beneficiary, constitute an Event of Default <br /> hereunder, giving rise to all of the remedies herein provided for <br /> an Event of Default . The Beneficiary shall notify the Grantor in <br /> writing of any such advance within 30 days of the date thereof . <br /> 3 . 12 Extension (s) and Releases . The Beneficiary and the <br /> Trustee (with the permission of the Beneficiary) may grant any <br /> extension, forbearance or other indulgence, and may release any <br /> part of the Property from the lien hereof without affecting the <br /> personal liability of any person for payment of the indebtedness <br /> secured hereby or the lien hereof. <br /> Article IV. Miscellaneous . <br /> 4 . 1 The Trustee. The Trustee shall be under no duty to take <br /> any action hereunder except as expressly required, or to perform <br /> any act which would involve it in expense or liability or to <br /> institute or defend any suit in respect hereof, unless properly <br /> indemnified to its satisfaction. All reasonable expenses, charges, <br /> counsel fees and other disbursements incurred by the Trustee in and <br /> about the administration and execution of the trusts hereby <br /> created, and the performance of its duties and powers hereunder, <br /> shall be secured by this Deed of Trust prior to the indebtedness <br /> represented by the Contract, shall bear interest at the same rate <br /> as the Contract, and shall be payable on demand by the Beneficiary. <br /> 4 .2 Heirs , Successors and Assigns. This Deed of Trust shall <br /> be binding upon, inure to the benefit of and be enforceable by the <br /> Trustee and the Beneficiary and their respective heirs, successors <br /> and assigns . <br /> 4 . 3 Amendments and Supplements. This Deed of Trust may be <br /> amended and supplemented only with the written consent of the <br /> Beneficiary. <br /> 4 .4 Applicable Law. This Deed of Trust shall be governed by, <br /> and construed in accordance with, the applicable laws of the State <br /> of North Carolina. <br /> 4 .5 Execution in Counterparts . This Deed of Trust may be <br /> executed in several counterparts, each of which shall be an <br /> original and all of which shall be an original and all of which <br /> shall constitute one and the same instrument. <br /> 4 . 6 Notices . All notices, approvals, consents, requests and <br /> other communications hereunder shall be in writing and shall be <br /> deemed to have been given when delivered or mailed by either (i) <br /> 12 <br />