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DocuSign Envelope ID:758215CF-OA18-45F8-8807-AB90F35D5BA2
<br /> This Deed of Trust secures to Lender: (a) The repayment of the debt evidenced by the
<br /> Note, with interest as provided in the Note, and all renewals, extensions and
<br /> modifications of the Note; (b) the payment of all other sums with interest as provided in
<br /> the Note, advanced to protect the security of this Deed of Trust; and (c) performance of
<br /> Borrower's covenants and agreements under the Loan Documents.
<br /> NOW, THEREFORE, in consideration of the Loan, and other valuable consideration, the
<br /> receipt of which is hereby acknowledged. Borrower hereby grants and conveys to Trustee his
<br /> successors and assigns all buildings, improvements, the equipment and all other real and
<br /> personal property, of every kind and nature now or hereafter attached to or used in connection
<br /> with the premises situated on real property located in Orange County, North Carolina, said real
<br /> property being more particularly described in Attachment "A", attached hereto and made a part
<br /> hereof by this reference, including by way of example and not limitation, all plumbing, heating,
<br /> lighting and air conditioning fixtures, refrigerators, ranges, hot water heaters, draperies and
<br /> carpets (hereinafter collectively referred to as the "Premises").
<br /> TO HAVE AND TO HOLD said Premises with all privileges and appurtenances
<br /> there-unto belonging to Trustee, his successors and assigns, upon the trusts, terms and conditions
<br /> and for the purposes hereinafter set out. Borrower covenants with Trustee that Borrower is seized
<br /> of and has the right to convey the Premises, in fee simple; that the Premises are free and clear of
<br /> all encumbrances, except as described on Attachment "B" attached hereto and made a part hereof
<br /> by this reference; and that Borrower will warrant and defend title to the Premises against the
<br /> lawful claims of all persons whomsoever.
<br /> Upon payment in full of all sums secured by this Deed of Trust, Lender shall cancel this
<br /> Deed of Trust, of record at the request and cost of Borrower.
<br /> If, however, there shall be a default in any of the terms, covenants or conditions of the
<br /> Loan Documents or any advance secured hereby, and such default is not made good within any
<br /> cure period specifically granted in the Loan Documents, if any, all sums owing to Lender under
<br /> the Loan Documents shall immediately become due and payable, without notice, at the option of
<br /> Lender; and, on request of Lender, Trustee shall foreclose this Deed of Trust by judicial
<br /> proceedings or, at Lender's election, Trustee shall sell (and is hereby empowered to sell) the
<br /> Premises at public sale to the last and highest bidder for cash (free of any equity of redemption,
<br /> homestead, dower, curtesy or other exemption, all of which are expressly waived by Borrower)
<br /> after compliance with applicable North Carolina laws relating to foreclosure sales under power
<br /> of sale and shall execute a conveyance in fee simple to the successful purchaser at said sale. The
<br /> proceeds of any such sale shall be applied in the manner and in the order prescribed by
<br /> applicable North Carolina laws. The Trustee's commission shall be five percent (5%) of the gross
<br /> sales price for completed sale for all services performed by him hereunder. Lender may bid and
<br /> become the purchaser at any sale under this Deed of Trust. At any such sale, Trustee may at its
<br /> election require the successful bidder to immediately deposit with Trustee cash or certified check
<br /> in an amount equal to all or any part of the successful bid and notice of such requirement need
<br /> not be included in the advertisement of the notice of such sale.
<br /> Borrower covenants with Trustee and Lender(and their respective heirs, successors and
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