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<br />SUf30RbINA710N OF pEEp OF TRUST
<br />(Gontinuedj Pago 3
<br />Subordination, Lender shall be entitled to recover such sum as the court may. adjudge reasonable as
<br />attnrney~' fees at trial and upon any appeal. Whether or not any court action is.involved, and to the extent
<br />not prohibited by law, all reasonable expanses Lander incurs tYrat in Lender's opinion are necessary at any
<br />time for the protection of its interest or the enforcement of its rights shall become a part of the
<br />Indebtedness payable on demand and 'shall bear interest at the Nota rate from fire date of the expenditure
<br />until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits
<br />under applicable law, Lender's reasonable attorneys' fees and Lender's legal expenses, whether or not
<br />there is a lawsuit, including reasonabia attorneys' fees and expanses for bankruptcy proceedings linciuding
<br />efforts to modify or vacate any automatic stay or injuntitinn), appeals, and any anticipated post-judgment
<br />' cofiection services, the cost of searching records, obtaining title reports (including foreclosure reports},
<br />surveyors' reports, and appraisal lees, title insurance, and leas !or [fie Trustee, to the extent permitted by
<br />applicable taw. Beneficiary also wlil pay any court costs, in addition tv ail other sums provided by law.
<br />Authority. The person who signs this Subordination as or on behalf of Beneficiary represents and warrants
<br />that he or she has authority to execute this Subordination and to subordinate the Subordinated
<br />Indebtedness and the Beneficiary's security interests In Beneficiary's property, if any,
<br />Caption Hoadinga. Caption headings in this Subordination are far convenience purposes only anti are not to
<br />be used to interpret or define the provisions of this Subordination.
<br />Goventing Law. This Subo+dinatian will be governed by federal law applicable to lender and, to the extent
<br />not preempted by federal taw, tl-a laws of fire State of~North Carolina without regard to its conflicts of law
<br />txovlslotta. This Subordfnatlon has been accepted by Lonrler in the State of Nortlt Carolina.
<br />Choice of Venue, If thvro is a lawsuif, Beneficiary agrees upon Lender's request to submit to the
<br />jurisdiction of the courts of Person County, State of North Carolina.
<br />Successors, This Subordina[ion shall extend to and bind the respective heirs, personal representatives,
<br />successors and assigns of the parties to this Subordfnatlon, and the covenpnts of Beneficiary herein in
<br />favor of Lender shall extend to, include, and be enforceable by any transferee or endorsee to whom Lender
<br />may transie+ dny or all of the Superior~tndabtedness.
<br />No Waiver by Lender, Lender sh~~n be deemed to have waived any rights under this Subordination
<br />unless such waiver is given in wr"SE g e sj pd by Lander. No delay or omission on fire part of Lender in
<br />exorcising any right shall operat t}~, er such right yr any other right. A waiver by Lender of a
<br />provision of this Subordination ~a11 n~~ i~e or constitute a waiver of Lender's right otherwise to
<br />demand strict compliance with that prevtsion~or ar ~'i~~ter provision of this Subordination, No prior waiver
<br />by Lander, nor any course of dealing betweer%; a~~eficiary, shall constitute a waiver of any of
<br />lender's rights or of any of~ eeneflcfary's obligation~r, s an ~X lure transactions. Whenever iha consent
<br />of Lender is required under this Subordination, the aka~tf n i'9f au~,~eonsant by Lentler in any fnstanca shall
<br />not constitute Continuing consent to subsequent insta~cas wherQlsuih consent is required end in ell cases
<br />such consent may be granted ar withheld in the sole discretionijt~i Lender.
<br />NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS 7HE PERSON
<br />OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN, A PORTION OF WHICH MAY B£
<br />EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT O>: THE LAND,
<br />EACH PARTY 70 THIS SUBORDINATION ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS
<br />SUBORDINATION, AND £ACH PARTY AGREES 70 ITS TERMS. THIS SUBORDINATION !S DATED OCTOBER
<br />zo. zoos.
<br />THIS SUBORDINATION i3 QIVEN UNDER SEAL AND IT 15 INTENDED THAT THIS SUBORDINATION IS AND
<br />SHALL CONSTITUTE AND HAVE THE Ef-FECT OF A SEALED INSTRUMENT ACCORDING TO LAW.
<br />BORROWER:
<br />THE CHRYSALI3 FOUNDATION FOR MENTAL li£ALTH. INC.
<br />By: _ ISeall
<br />Alan Maltbie, Chair of The Chrysalis Foundation far Mental
<br />Health, inc.
<br />By: _ (seal)
<br />Curtis McLaughlin, Treasurer of The Cltrysalia Foundation for
<br />Mental Health, 1nC•
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