Orange County NC Website
Browse       Search
Rev August 8, 2018 <br />(c) the forbearance or extension of time of payment or performance of any obligation <br />hereunder, whether granted to Grantor or a subsequent owner of the Premises; and <br />(d) the release of all or any part of the premise securing said obligations or the release <br />of any party who assumes payment of the same. <br /> <br />None of the foregoing shall in any way affect the full force and effect of the lien of this Deed of <br />Trust or impair Beneficiary's right to a deficiency judgment (in the event of foreclosure) against <br />Grantor or any party assuming the obligations hereunder. <br /> <br />11. Substitute Trustees. Beneficiary shall have the unqualified right to remove the Trustee <br />and to appoint one or more substitute or successor trustees by instruments filed for registration in <br />the Office of the Register of Deeds where this Deed of Trust is recorded. Any such removal or <br />appointment may be made at any time without notice, without specifying any reason therefore <br />and without any court approval. Any such appointee shall become vested with title to the <br />Premises and with all rights, powers and duties conferred upon the Trustee herein in the same <br />manner and to the same effect as thought he were named herein as the original Trustee. <br /> <br />12. Late Charge. Late charges may be assessed by Beneficiary in accordance with the Note <br />and any Change Order Note. <br /> <br />13. Attorney's Fees. In the event that Grantor shall default in its obligations hereunder and <br />in the opinion of Beneficiary it becomes necessary or proper to employ an attorney to assist in <br />the enforcement of collection of the indebtedness owed to assist in the enforcement of collection <br />of the indebtedness owed by Grantor to Beneficiary or to enforce compliance by Grantor with <br />any of the provisions of the Loan Agreement or those herein contained, or in the event the <br />Beneficiary or the Trustee voluntarily or otherwise shall become a party or parties to any suit or <br />legal proceeding (including a proceeding conducted under the Bankruptcy Act) to protect the <br />Premises herein conveyed, to protect the lien of this Deed of Trust, to enforce collection of the <br />indebtedness owed by Grantor to Beneficiary, or to enforce compliance by Grantor with any of <br />the provisions of the Loan Agreement, the Note and any Change Order Note, or those herein <br />contained, Grantor agrees to pay a reasonable attorney's fee and all of the costs that may <br />reasonably be incurred and; such fees and costs shall be secured by this Deed of Trust and its <br />payment enforced as if it were a part of the original debt. Grantor shall be liable for such <br />reasonable attorney's fees and costs whether or not any suit or proceeding is commend; if suit is <br />instituted by Beneficiary upon default to enforce collection of any unpaid balance of the Note <br />and any Change Order Note. Grantor stipulates and agrees that the attorney fees shall be deemed <br />to be fifteen percent (15%) of the sum of the unpaid principal and all interest due thereon at the <br />time suit is instituted. <br /> <br />14. Anti-Marshalling Provision. The right is hereby given by Grantor to Trustee and <br />Beneficiary to make partial releases or releases of security hereunder (whether or not such <br />releases are required by agreement among the parties) agreeable to Trustee and Beneficiary <br />without notice to, or the consent, approval or agreement of other parties and interest, including <br />junior lienor and purchasers subject to this lien, which partial release of releases shall not impair <br />in any manner the validity of or priority of this Deed of Trust on the Premises remaining <br />hereunder, not secured. Notwithstanding the existence of any other security interest in the <br />DocuSign Envelope ID: 62EC95C2-2AA8-49D7-B576-F94193C9DB65