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2018-674-E Housing - Habitat HOME Agreement 2017-18
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2018-674-E Housing - Habitat HOME Agreement 2017-18
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Last modified
10/10/2018 2:02:15 PM
Creation date
10/10/2018 12:24:48 PM
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Contract
Date
6/1/2018
Contract Starting Date
6/1/2018
Contract Ending Date
5/31/2117
Contract Document Type
Agreement
Agenda Item
6/6/17
Amount
$211,830.00
Document Relationships
Agenda - 06-06-2017 - 5-a - Orange County Consolidated Plan – Annual Action Plan Update
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2010's\2017\Agenda - 06-06-2017 - Regular Mtg.
R 2018-674 Housing - Habitat HOME Agreement 2017-18
(Attachment)
Path:
\Board of County Commissioners\Contracts and Agreements\Contract Routing Sheets\Routing Sheets\2018
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and tear excepted) and will not commit or permit any waste or other loss whereby the value of <br />the Premises might be impaired. <br />5.Compliance with Laws. Borrower shall promptly comply with any applicable legal <br />requirements of the State of North Carolina or other governmental entity, agency or <br />instrumentality relating to the use or condition of the Premises. <br />6.Advancements by Lender. If Borrower shall be in default in the timely payment or <br />performance of any obligation under the Loan Documents, Lender, at its option, may pay the <br />sums for which Borrower is obligated. Further, Lender, at its option, may advance, pay or <br />expend such sums as may be proper and necessary for the protection of the Premises and the <br />maintenance of this trust, including but not limited to sums to satisfy taxes or other levies, and <br />assessments and/or liens, to maintain insurance (including title insurance) and to make repairs. <br />Any amounts so advanced, paid or expended shall be deemed principaladvances secured by this <br />Deed of Trust (even though when added to other advances the sum thereof may exceed the face <br />amount of the Note), shall bear interest from the time advanced, paid or expended at the rate of <br />ten percent per year or such higher rate as may be prescribed in the Note, and be secured by this <br />Deed of Trust and its payment enforced as if it were a part of the original debt. Any sum <br />expended, paid or advanced under this paragraph shall be at Lender's sole option, shall be due <br />and payable ondemand and shall not constitute a waiver of any default or right arising from the <br />breach by. Borrower or any covenant or agreement contained in the Loan Documents. <br />7.Attorney's Fees.If Borrower shall default in its obligations under the Loan <br />Documents and in the opinion of Lender it becomes necessary or proper to employ an attorney to <br />assist in the enforcement or collection of the indebtedness owed by Borrower to Lender, or to <br />enforce compliance by Borrower with any of the provisions of the Loan Documents, or in the <br />event Lender or 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), then in order to <br />protect the Premises herein conveyed, to protect the lien of this Deed of Trust, to enforce <br />collection of the indebtedness owed by. Borrower to Lender, or to enforce compliance by <br />Borrower with any of the provisions of the Loan Documents, Borrower agrees to pay reasonable <br />attorney's fees and all the costs that may reasonably be incurred, and such fees and costs, shall be <br />secured by this Deed of Trust and its payment enforced as if it were a part of the original debt, <br />Borrower shall be liable for such reasonable attorney's fees and costs whether or not any suit or <br />proceeding is commenced. Reasonable attorney's fees shall be limited to fees for expenses <br />actually incurred and time actually spent at standard hourly rates. <br />8.Substitute Trustees. Lender shall have the unqualified right to remove Trustee and to <br />appoint one or more substitute or successor trustees by instruments filed for registration in the <br />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 though he were named herein as the original Trustee. <br />9.Anti-Marshalling Provision. The right is hereby given by Borrower to Trustee and <br />DocuSign Envelope ID: 12C19140-2C02-498E-AD84-772B4830D31B
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