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14 <br />right to convey the same in fee simple, that title is marketable and <br />free and clear of all encumbrances, and that it will warrant and <br />defend the title against the lawful claims of all persons <br />whomsoever, except for the exceptions hereinafter stated. <br />5. SUBORDINATION TO CONSERVATION EASEMENT. This Deed of Trust <br />is and shall be subject and subordinate at all times to the <br />Declaration of Covenants and Restrictions and Conservation Easement <br />by and between Grantor and the State of North Carolina which <br />Declaration and Conservation Easement create a conservation easement <br />insomuch of the Premises as is identified as "Subject to <br />Conservation Easement Agreement between Orange County, North <br />Carolina and the State of North Carolina" on the recorded plat <br />depicting the Premises referred to in the description of the <br />Premises herein, without the necessity of the execution and delivery <br />of any further instruments on the part of Grantor or others to <br />effectuate such subordination. <br />Beneficiary and Trustee., upon request of any party in interest, <br />shall execute and deliver to Grantor promptly such instruments or <br />certificates to carry out the intent of this section as shall be <br />requested by Grantor. If twenty (20) days after the date of a <br />written request by Grantor to execute and deliver such instruments, <br />Beneficiary and/or Trustee shall not have done the same, Grantor <br />may; at its option, institute an action for the specific performance <br />of this obligation on the part of Beneficiary and Trustee. In the <br />event Grantor institutes an action for specific performance as <br />provided here, Beneficiary shall also be liable to Grantor far the <br />reasonable attorneys' fees and expenses incurred by Grantor in <br />prosecuting such action and the costs of such action. <br />6. SUBSTITUTION OF TRUSTEE. Grantor and Trustee, covenant and <br />agree to and with Beneficiary that in case the Trustee, or any <br />successor trustee, shall die, become incapable of acting, renounce <br />his trust, or for any reason the holder of the Note desires to <br />replace said Trustee, then the holder may appoint, in writing, a <br />trustee to take the place of the Trustee; and upon the probate and <br />registration of the same, the trustee-thus appointed shall succeed <br />to all rights, powers and duties of the Trustee. <br />7. ADVANCEMENTS. If Grantor shall fail to perform any of the <br />covenants or obligations contained herein or in any ,other instrument <br />given as additional security for the Note secured hereby, the <br />Beneficiary may, but without obligation, make advances to perform <br />such covenants or obligations, and all such sums so advanced shall <br />be added to the principal sum, shall bear interest at the rate <br />