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Home My WebLink AboutLegal DescriptionLegal Description for property to be rezoned for Northside Baptist Church of Wilmington, Inc. Located in Harnett Township, New Hanover County, North Carolina and beginning at a point in the western right of way line of NC Highway No. 132 (200 foot public right of way). Said point has NC Grid Coordinates (NAD 83) of: N = 198,563.961', E _ 2,340,684.695' and is located North 21 degrees 07 minutes 32 seconds West — 316.41 feet from NC Grid Monument "BONNIE" which has NC Grid Coordinates of: N = 198268.8161', E = 2,340,798.7337', CF =1.0000106. Running thence, from the said point of beginning, South 71 degrees 39 minutes 14 seconds West — 200.00 feet to a point; thence, North 18 degrees 20 minutes 46 seconds West — 6.00 feet to a point; thence, South 71 degrees 39 minutes 14 seconds West — 220.00 feet to a point; thence, South 18 degrees 20 minutes 46 seconds East — 7.68 feet to a point in the eastern right of way line of Owls Lane (60 foot public right of way); thence, with a curve to the left having a radius of 55.00 feet and a chord bearing and chord distance of South 39 degrees 50 minutes 52 seconds West — 93.48 feet to a point; thence with a curve to the right having a radius of 35.00 feet and a chord bearing and chord distance of South 50 degrees 08 minutes 53 seconds East — 36.89 feet to a point in the western right of way line of Owls Lane; thence, South 71 degrees 39 minutes 14 seconds West — 150.00 feet to a point; thence, North 18 degrees 20 minutes 46 seconds West — 82.20 feet to a point; thence, South 71 degrees 39 minutes 14 seconds West — 200.00 feet to a point in the eastern right of way line of Red Hawk Road (60 foot public right of way; thence, with the eastern right of way line of Red Hawk Road, North 18 degrees 20 minutes 46 seconds West — 457.44 feet to a point; thence, with a curve to the left having a radius of 55.00 feet and a chord bearing and chord distance of South 39 degrees 50 minutes 52 seconds West — 93.48 feet to a point; thence with a curve to the right having a radius of 35.00 feet and a chord bearing and chord distance of South 50 degrees 09 minutes 08 seconds East — 36.89 feet to a point in the western right of way line of Red Hawk Road; thence, North 60 degrees 11 minutes 15 seconds West —185.52 feet to a point; thence, North 70 degrees 17 minutes 14 seconds West — 62.37 feet to a point; thence, North 04 degrees 41 minutes 50 seconds East — 96.10 feet to a point; thence, North 11 degrees 48 minutes 26 seconds East —170.40 feet to a point; thence, North 03 degrees 54 minutes 09 seconds East —112.25 feet to a point; thence, North 07 degrees 20 minutes 24 seconds East — 203.78 feet to a point; thence, North 13 degrees 28 minutes 43 seconds East —195.18 feet to a point; thence, South 78 degrees 39 minutes 46 seconds East — 501.97 feet to a point; thence, South 18 degrees 20 minutes 46 seconds East — 205.83 feet to a point; thence, North 71 degrees 39 minutes 14 seconds East — 270.00 feet to a point in the western right of way line of NC Highway No. 132; thence, with the western right of way line of NC Highway No. 132, South 18 degrees 20 minutes 46 seconds East — 787.67 feet to the point of beginning, containing 20.99 acres more or less as computed by the coordinate method. ■ --fest—■---■ -ti■ - —■Fril ♦_—��■y1■■ �Iii-pwi r— �-�rfJ �i��1— — i—• 1 ri■� FHt F—F 66�mll 1*.IHI - - 1 �•� i - : ■—■ f t1 _ Iii ■�'' : ■ _ Tmi-■f--I" il.moo—O milli' imm--■m!lm1:- :- '-in-f T- 1 Ai� i �� o F .--.:-1-. do - - - - : �- -a---La W �F iiT ■i• i �■ i—■H =i �_� moi——F—■ m-- �r1■ &-+AFF mmm r% --a ■■■ of sir■ � 'I• -i..- :i■i ■P■--■ ��-■ .■�■.M1■■i� Ar IIII F ir ■■ M"1 ■r `- -. f = - rel F . mit : _ ■-' ' Y- i — - : - ..-� -~ a -1 i71 AfW �w Z-%- — F — mi Im ■ -.111 F • — — — i — m ■ ■ ■i ■■ —■ — ——■ t■ — —i i■ -5� F F ■ — F - 1�IFF '� :!1 F m .—immom FF r tF •— ■ —' � —L=— ■ � — t !� if . im ■ m. --.i.— — t 1 '■ ■ f= — — —-■ ■ �m■ 1.117_ 1•iFr'u —.im '- -i- Z--- - - - �M-.-A y- f -m J Imo': -I: .� A _ -F t- mWomm- - a ■l- -. ice' irn •L= 'f mi -m-- !Mz : -.tit-�- Zi —1 m7 �� i�f Draftsman; DAVID C. BAREFOOT !)AGE ATTORNEY AT LAW Elks Temple Building n n 255 North Front Street 5 2 2 U J P,O. Drawer 1766 Wilmington, North Carolina TAX PARCEL NOS. R03400-001-013-005 803412-005-011-000 803412-005-012-000 R03412.005-018-000 STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER NOREYMSTAM WARRANTY DEED THIS DEED, made and entered into as of the day of October, 1998, by and between JADIE DEMPSEY HOWARD, HENRY WAYNE PHILLIPS, and MICHAEL GLENN ELLINGTON, TRUSTEES of Northside Baptist Church, (originally known as Murrayville Baptist Mission, which then became Murrayvllle Baptist Church, which later changed its name to Murray Memorial Baptist Church, prior to its present change of name to Northside Baptist Church) (hereinafter called "Grantors"), parties of the first part; and NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina non-profit corporation (hereinafter called "Grantee"), party of the second part, whose mailing address is: 2501 North College Road, Wilmington, NC 28405 (whether one or more persons, firms, or corporations). The designation Grantors and Grantee as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. ()00122 WITNESSETH: THAT the said Grantors, in consideration of the sum of TEN ($10,00) DOLLARS, and other good and valuable considerations paid to them, receipt of which is hereby acknowledged, have bargained and sold, and by these presents do hereby grant, bargain, sell and convey unto the said Grantee, the following described lands located in Cape Fear Township, Now Hanover County, North Carolina, and being more particularly described as follows: BEING all of that certain real property described upon Exhibit A hereto attached and incorporated by reference. TO HAVE AND TO HOLD the above granted and described lands and premises, together with all and singular, the rights, privileges, easements, tenements, duties, obligations and appurtenances thereunto belonging, or in anywise appertaining unto the said Grantee, in fee simple, FOREVER. AND said Grantors covenant with the Grantee that the Grantors are seized in fee simple of the above granted and described premises, and have good right to sell and convey the same in fee simple, that the title is marketable and free and clear of all encumbrances, except as herein set forth, and that said Grantors will WARRANT and DEFEND the title to the same against the lawful claims and demands of any and all persons whomsoever. 56851. 5 y 2522 0 19 0 IN TESTIMONY WHEREOF, the parties of the first part have hereunto set their hands and seals all the day and year first above written, '99 FEB 16 PM 12 19 TRUSTEES, NORTHSIDE BAPTIST CHURCH, an uni orporated church RF_^DRDED & VERIFIED IAARY SUE OOTS By. (SEAL) RE^ISTER OF DE'E'DS JADI DEMWARD, TR EE By. �u GG�PL (SEAQ HE WTRUS E By: AL) MICHAEL GLENN ELL[NGTON. US EE STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I• , a Notary Public for the aforesaid County and State, hereby certify that JADIE DEMPSEY HOWARD, HENRY WAYNE PHILLIPS AND MICHAEL GLENN ELLINGTON, TRUSTEES OF NORTHSIDE BAPTIST CHURCH, personally appeared before me this day and acknowledged the due execution of the foregoing instrument for and on behalf of the Church. WITNESS my hand and seal this day of �, 1998. My Commission E otary Public . d f OT RIAL SEAL Netr_rlrMi'. p� STATE OF NORT yr �• ar COUNTY OF NEWV HA O The foregoing certificate(s) of DIA&C -,ii5'X'J` a Notary Public, is/are certified to be correct. This is the _L.(p_ day of I -CA 199p'. y MARY SUE DOTS Register of Deeds -New Hanover County Qepu c:1 W rMdud,lNo�tl W d, by z E=XHIBIT, "A" p�,;E BOO', to Deed from 1 g 1 Trustees, Northside Baptist Church ? 5 2 2 to Northside Baptist Church, Inc. Located in Cape Fear Township, New Hanover County, North Carolina and Beginning at a existing Iron pipe in the eastern right of way line of Owls Lane (80 foot public right of way) as it is recorded in Map Book 34 at Page 66 in the New Hanover County Registry, said existing iron pipe is located North 14 degrees 42 minutes West - 394.38 feet from the point of Intersection of the eastern right of way line of Owls Lane and the northern right of Way line of Bavarian Lane SSR #1322 - 60 foot public right of way). Running thence, from the said point of beginning and with the eastern right of way line of Owis Lane, North 14 degrees 42 minutes West - 268.8 feet to an existing -iron pipe; thence, North 76 degrees 18 minutes East • 124.80 feet to an existing iron pipe; thence, North 14 degrees 42 minutes Weat • 120.40 feet to an existing iron pipe; thence, North 75 degrees 18 minutes East - 25.20 feet to an existing iron pipe; thence, North 14 degrees 42 minutes West - 200.00 feet to an existing iron pipe; thence, North 75 degrees 18 minutes East - 270.00 feet to an existing iron pipe in the western right of way llne of NC Highway #132 (200 foot public right of way); thence, with the western right of way line of NC Highway #132, South 14 degrees 42 minutes East - 596.20 feet to an existing iron pipe; thence, South 75 degrees 18 minutes West - 200.00 feet to an existing iron pipe; thence, North 14 degrees 42 minutes West - 6.00 feet to an existing iron pipe; thence, South 75 degrees 18 minutes West - 220.00 feet to the point of beginning; containing 4,87 acres more or less and being those tracts of land recorded in Book 590 at Page 531, Book 847 at Page 256, Book 802 at Page 341, Book 899 at Page 916, Book 950 at Page 646, Book 1096 at Page 68, and Book 1473 at Page 908 in the Now Hanover County Registry. 3 •n ' v�1 , Kk ---� �L--7-� F i L 7 - 1 T L _ LT ii r Pig= 1 1 � J I I Satt3taiCdon: The debt rteclered by Ws Deed of Tetert Kqtogathar with itis notels) or other ob7lgatkmn secured thereby �wva been i nislied in full. — Y This the day of Signed: NeflonsBank, N. A. '!:■111!! 11�:IY�; S' RECORM h YEf MEd BOOK PAGE 2397 0940 Recording Time, Book and Page Tax Lot No. f " R4f 4rd4prows4o. Verified By r Caatry on the by day of Mail to: NationsBank. N,A. Prepared by: 3acaueline McIver Aran: NC Lien perfe :iiaa Netiens8ank. N.A. P.O. B xr -a3.Ug Chadwt NC 28233-3562 Charlotte, NC 29233-3562 Customer 101,1004034 000006 North Carolina Deed of Trust This Deed of Trust made as of this 12th day of June, 1998, by and between; Jadie Dempseyrafriward, Trustee Henry Wayne Phillips, Trustee Michael Glean Ellington, True: or: Newihsxfe Baptist Church Address: 2501 North College Road Wilmington, Nath Carolina 28405 Trustee T.r M.. Inc Address: P.O. Bax 33562 Charlotte. North Carolina 28233 3562 Beneficiary NationsBank, N.A. a natio of banking associsuon with its principal office in Charlotte, Mecklenbvg County, North Carolina. Address: 200 South College Street Charlotte. North Cwolma 28255 Attention: Jacqueline McIver Mulstop: NCI.014.13-02 Enter in appropriate block for each party: name, address, and if appropriate, character of entity; e.g. corporation or partnership. The designation Grantor, Borrower, Trustee, and Beneficiary as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. Borrower means any person or entity who is a maker or signer of the Obligation (defined below). The designations Grantor and Borrower shall have the same meaning unless Grantor is riot a maker or signer of the Obligation, in which case, Borrower shall mean Northside Bsorisr Church, Witness, That Whereas, Borrower is indebted or otherwise obligated to Beneficiary In the principal sum of Three Hundred Felty Thousand and 00110D Dollars$(35Q 00.0_,f]4), as evidenced by a IXI promissory note, 11 guaranty agreement, Il other III e of indebtedness described as: or even date herewith (or dated June 12, 1998 if otherwise dated), (such indebtedness or obligation and all present or future modifications, extensions, renewals or replacements thereof hereinafter referred to as the 'Obligation') the terms of which are incorporated herein by reference. Now Therefore, for valuable consideration, receipt of which is hereby acknowledged, and as security for the payment of the Obligation, together with interest thereon and any other sums payable in connection therewith, Grantor has bargained, sold, given, granted and conveyed and does by these presents bargain, sell, give, grant and convey to said Trustee, Trustee's heirs, successors, and assigns, the owcells) of land (the 'Land") situated in Township, County of Now Hanover. State of North Carolina, and or particularly described as follows: TRACT 1: 209 f el to the be Innen . For continuation of description see EXHIBIT Together With all improvements (including fixtures) now or hereafter located on the Land and all equipment and property of Grantor now owned or heroalter acquired by Grantor and located in, on or undar the Land or improvements (the Land, improvements, and other property �Mnq referred to as the -Pren%ises-j. To Have And Hold the Premises with all easements, rights, privileges and appurtenances thereunto belonging and the rents, issues and profits thereof, to the smd Trustee, Trusteli s heirs, successors, assigns forever, upon the trusts, terms and conditions, and for the uses heremalter set forth. II 3arrower shad pay or otherwise sanafy the Obligation in accordance with Its terms. together with any Interest, and any other sums oay able In cc nneutrort therew if h, and j Grantor shall perform and comply with all of the Covenarits, terms and conditto ns of this Deed of Trust, ri+en ihrs conveyance shall be null and void and may be cancelled of record at tha request of Grantar. If, however, there shall be any default oily of the Covenants. terms or conditions of the Obilgat Pon. including a fraudul ant or malar i at mi Srepresent a tie n by Bot rower, or failure to inal<e a timely payment as faquifad under iha DtitigaIPon, or any faituro or neglect to comply wilIntha covenants, tenets or Gond:Irons contained err This Dued of bust. including any action or in aci,on by Granum which adversely affects the Premises. then and in any of such events, the Ooligation aha». at IhIt option of Son oficiary, at once become due and payable without noIiee, and it shall be lawful for and Via duty of Trustee, '31r -r---! T t +�. i LTF�]�D TO �,.r� R= 12,10e95 5318QZ upon request Of Benshoisry, either to Cell the Nannies$ at public auction for cash, after hevin first given such notice of hearing as to commencement of foreclosure proceedings and obtained such findings or lam of court an may required by la��}p[ving such notlto and advarlis)np the Jima and place of such sate in eur h manner as may be than provided by law, and upon such sale ait9'�'!11 readne and upon compliance with rhe law Misting to foreclose proceedings under power of este, to cenvef titleZ tYrt sltaaar in f simple; or a Sonefietary's election to foreclosure this Bead of Trust by judicial procaed(ng. J f fJ 4 I The proceeds of the sale shill, after payment of the Trustea's commission, be applied to the cosla of ssia, the amount due an the obligation and otherwise as required by the than existing law relating to fafadoeures. Trustee's Commission shall be five tides cent of the gross proceeds Of the sate for a Completed foreclosura. In the event foreclosure Is commenced, but not Completed, Grantor shall pay all expenses incurred by Trus[ea end a per tisi commission computed on five percent of the outstanding indatitedness, In accordance with the foil owmIF schedule to wit: on*-lourth thereof before Trustee issues a notice a1 hearing on the right to foreclose; one-half thereof alter issuance of said notice; three-fourths thereof after such hearing; and the full Commission after the initial sale. And Grantor does hereby covenant and agree with Trustee and Beneficiary as follows: 1. Future Advances, This Deed of Trust is given wholly or par try to secure all present end luture advances and re -advances, if any, made or to be made Pursuant td the terms of the Obllgarion. The amount of the present advance secured hereby is Oaths IS 1 and the maximum principal amount, 1ncivding present and future advances, which may be secured hereby at any on time is Dollars 11- ). Future advances may be made at any time between the date hereof and the date not more than fifteen ;15) years from the dale hereof. (11 Beneficiary raservas the right to make future advances in excess of the face emountof Via obligation, itis not an ihdicatron.Sanaficiaty intends to make such future advances.) Unless otherwise agreed to by Beneficiary and Borrower, Beneficiary is authorized to make future advances upon the request of any Borrower (when more then one) without The acknowledgement or consent of any other Borrower or the Grantor. 2- Insurance, Grantor shall keep the Premisas now exisuag or haraafter erected, continuously insured fpr the, benefit of Beneficiary against loss by fire, flood. windstorm and other casualties and contingencies az required by Besteficiary, in an "aunt at least equal to the greater of the outstanding Obligation of the lull replacement value of The Premises. Such insurance policies shall be in a form and from companies s86$fectory To Beneficiary and, among other things, shall provide for a minimum thirty (30) days advance notice to Beneficiary of any rnlended cancellation ar non•ronewal of the insurance. Grantor shall purchase such insurance, pay all premiums therefor, and shall deliver to Beneficiary such policies airing with evidence of premium payment as long as the Obligation remains unpaid. It Grantor [alis to purchase such insurance, pay the premiums therefor or deliver said policies along with avidencs of peymant of premiums thereon, then Beneficiary, at its option may purchase such insurance. Bene fieiary may require, In Its sole discretion, that the proceeds of any such insurance, a any part thereof, be applied to the' foduction of the Obtigatl.on or to the reStaratiorl or repair of the damaged Premises as the work pro grass as, 3. Taxes, Assessments, Charges. Grantor shall pay all taxes, assessments and charges as may be lawfully levied against the Premises within thirty (301 days after the same shall becomedua. In the event that Grantor Fails to so pay all taxes, assessments and charges as herein required, then Beneficiary, at its option, may pay the same. 4. CbnCfemnation. Upon the condemnation or taking of the Premises, or any part thereof, by any authority pursuant to the power of eminent d"ain. Beneficiary shall be entitled to receive all or any portion of the amounts awarded or paid for such taking, up to The full amount of the Obligation, which amounts awarded or paid acre hereby assigned to Beneficiary. Beneficiary also may, upon any such taking, elect To declare the Obligation to be immediately due and payable. Beneficiary's right to deceive any award or payment upon any taking, or to doclara the OUIlgalinn due and payable, shall not be affected, restricted or in any way impaired by tha amount or value of any remaining portions of the Premises that may continue to be subject to the terms of this Deed of Trust. 5. Waste. Grantor covenants that will keep the Premises herein conveyed in as good order, repair and conditions as they are now, reasonatrre wear and law excepted. and that it will not commit or permit any waste. 6. Warrsntle5. Grantor Covenants with Trustee and Beneficiary that it is seized of the Premises in fee simple, has The right to convey the sane iti tae simple, that tillers marketable and free and clear of elf encumbrances, and that Grantor will warrant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions, it any, contained in any title insurance policy or report, certificate or opinion of tills to and approved by Beneficiary in connection with this Dowd of Trust. 7. Substitution of Trustee. Beneficiary shall at any time have the irrevocable right to remove Trustee or any successor Trustee without notice or cause and td appoint a successor by an instrument in writing, duty acknowledged, in such form as to entitle such instrument to be recorded in thin same registry whaler this Dead of Trust is recorded. Any successor Trustee So appointed shall be vested in the title to the Prernl$es and shall possess all the powers. duties and obligations herein conferred on Trustee in the same manner and to the same extent as though successor Trustee was originally named harern as Trustee. B. Expenses. Grantor agrees to indemnify and hold Trustee and Beneficiary harmless from and shall pay or reimburse them for all expanses of every kind, Iriclvding without limitation, fines. penalties, damages. attorney's fees. Court costs, taxes, insurance pfamiums, and all costs of all etspechpns appraisals, onvtfonmenlal invesltgatiaris and cleanups incidental to the creation, existence or protection of the OLagalron, The Premises or this Deed of Trust, the collection of the Obligation, or the foreclosure of this Deed of Trust by Sull or otherwise, All such expenses shall be added to the Obligation, shall bear interest at the rale provided in the Obligation for Sums due all et default for al The 'contract rano' if there i5 no `default fair'), and shall be due and payable to 8oneficiary or Trustee upon demand. Grantor's obligations hereunder shall be Continuing and survive satisfaction of the Obligation, or foreclosurr or sale under this Dead of Trust or delivery of a deed Hr lreJ of larerlu5trtc, 9 Environmantal Conditions. Grantor warrants that (0 the Promises and all other real property now owned by Grantor have not been and are net now being used 1n violation of any federal, state or local environmental law, wdrnancs or regulation;'EnVironTnenTat Law"); (ii) no real rruperty Prov+gusly o1vnad by Grantor was used by Grantor ar Grantor's agents. tenants or assigns in violation of any Enwronmenrill lar.; i„rl All uprraIion $ of Gran for are being and 1n the future will be Conducted in cull compliance with all EnvironmOng al Laws: lav} except as previously disclosed to and approved by Benoliriary to writing, the Premises and all other real property owned by Grantor are free of underground star agetanks, out •aI-use transformers, hazardous, radioactive, or toxic wastes, contaminants, oil, asbastos ccnTaintng materials, err other malevals, The production, use, storage, transportation, disposal, discharge. or removal of which is tegulaled, feLtticled. prohibited Of Penal -zed by any federal, stat* or local agency, authority or governmental unit ('Hazardous Substances'); [y) Grantor has not filed nor been reQuvrd to file any loderal, stats, or local reports Of notices of ani nature relating to the discovery, discharge, or disposal of Hazardous Stlbslatices on any real property now w previously owned by Granto(; and (vi) no pi"nedings have been commenced or threatened, or cllrlruns, arderg, at notice$ received, concerning Grantor and the alleged violation of any Environmenia) Laws. ExcopT for Mat erlall it ecu ssery lot the normal routine maintenance at the Premises, which In star lots sfrall be usod to aceordanCC with all E•1vlr onmen Wl L, tvs. Grantor covenants that, sur thoUt prior written cc ns ant of Ban a 11 c, cry, rt will not pormrt any Hat and ass Substances to be hteughi rnlo the Premises 0 any other real property owned or op era led by Grantor, end 11 otherwise brought, found 0 located Iher non. Grantor .v,l- cause lf+r %attic to be;mm achately tamavact. with proper dlspesal, will drlrgontiy undertake inti necessary anvocinmental cleanup procedures, ,anti v,tlr a t t ewe%, so rulry comply w,t11 all krrvt r ommtn tal Laws Grantor covenants that rt will imm eerately not rly Bonal;ciary 1n we PTrnq of any nrrrni•ntt on err aflact-ng the Piemrsr5 involving Haeardous Substances. and will provide Berteltcuvy with copies of alt current or future ••' :+'on-ittltal)v mlaroo perntrrs, 1,11^0$, reports, assessments. audits, nolrues, complaints, and the like relating to Granter or The Premises. GI.Wor furlhot covenants that upon fequcst of Seite(crrary. Gfantof will, at Its sole expense, obtain such environmental asse5sr"nils [of The f•r rrti,i!•[•F and Gfanlor's apelallnns as Benaltpary may dertut- Should Grantor fall to p;rforrn such environmental assessments within thirty d01 +tags of fequesi, geneticist-, =hall [rave the rtgh[. but not the ob)1931r*n, to retain an environmental consultant to porform <,1-tl aY5 eg51r5anls, �rt+orta t U7195 r1Y,nW ,7Qa,9S +.vvtt rA(;L 2397 0942 hm ds«x10. red 000m sr by Bid srsarm* ew*lkia�v �s� bs�w a llorm artltm �cteiry m oissim w hwn sm ooaes. or hs r 4n*--md pm se, y erid ernlfrretDry to eananciary. 11. FYwroW BtatW MM. Orarrtar ahO direr Nod it flutter N ditfram from Renewer. arsnter shag tow" Borrower to ddvwl rmars:isl atwiene ata m nrridery arms 3y. and noon dun ff as ravuomot. AN Mandel stsweerm wim be it the farm saalaeary to BwwVLCWv end shelf ihekRlR w imse appraprI IrldnutMlrahriwi a bWrtoa*ML art brtnrmll IWd at lut eRnllt. a telt fMOw sruoawrL nKonoartion a1 dsggra in aq*y and norm wfth sppwopriste dealeatrre to lerkaie a irmisttero of oarrtlrt at gaUnies. 12. 7aenafor of Marto&" of Prefnlsm tt ep araty Wer[ of the Pnm settar taw itnamt h h 4 sold Isaaard, rnertpagrda o�arwpa traetafrrred rR x C3rartgcr h rot en hVdlrifhHl, and enlr dueiBma h VM erandlenEip. awnttaftMr tx oarasral d Orarkr ooww ilsrwirlw e+rr. in hes ads drotrardon wrA= pronlitA d by tow, segete the Oblito*n irwararfeKsey due ad aaytrl>t+ in refs. 17. Madlllcauontl. GnMor agrees that Ba demo met M*A SkL16dnar or rt)wm adyahcpt udder, or may molly. emtand. rem). ferbow arcalm adtr aaearrnada0sns v ldr reed m go Obingadtn at etprVutwer a rNa noel M Trust ttlateul Orartt ors aarsasn. 14. Othw heal. DNarlt u w ft terms d ary inswnw Swund by m gn an dM Ptwn(aae ddl con.lihm a dalauh har.teder. 15. Ame" Onto Ptann1t atr. Bmrtarrciary la hreuy greased u utaarrwrau to art« erhd to wtthot4a nrhaa to erste upon rhe PramisRx la the purpaaasoT cmduerLrp envlrorrrow+tai arasYsrttarrta ttic7+dirrpr+klrg pftysicai tiarrrlkesi, ITsprrit , sppraaingw taieYng srry other stride daam td nom mry Or deals ods by 8aneW my to protect ha interest In. to Prw*30 . Otantor acfufowi odpM no adeq uvA remedy at law oZah tot a viatati n n 94 Sha saw a. and eprert Str efiday is arbtkd to spec flC Worm once of Its dghw under the rawnetn Th* aasamem " con*Rw until M sums due genNidry under the Obligation and Shia Dead of Trus: here been npeld In lag and Vile Dead of Tnal dsn=W or released atrsooid. 18. Fofbearanea. No delay or fatbwame by Bnalldry In axw doing "or of of its rights hmetander or rights a0tarwiso alferded by law. aftag oprau as a waiver thareel of precluds ter exerdeo thereof during pts aonthutme of arydOoLtur o t sat forth hmraen or it the arrant of wry tubuquant daTauit haroundr. and as auah 4gtda WAO ba our" wivs. In Witness whereof. 61~ has hweamdar fat Its. hand and Leal, or if a twparadpn, lies caused QU rnstiummt to ho:In its ewporata•Mme by Ito duty autherWd offiows end It6 "al to be herrMatraffrxad by avti ry d to Board of o4octors. aha dry aid rear first eb owe wnttrL (corporsty Name) Ch jowl'. r7t�!I iiC a9lIfT= •s r a.. a STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER STATE OF NORTH CAROLINA Nit Hanover County The FnrcaoLng/ Anne rid Csrtilleate(s) or Notary (Notaries) Public is/ aA, catilled to be correct. 7� �7 9fLL This the _LCL_ day of r Mary Sue t?cta, PgilLstiv !I dreda b Otyuey/Arelfvat- 1, ELIZABETH I. MOORE, a Notary Public in and for the aforesaid County and State do hereby certify that .IADIE DEMPSEY HOWARD, HENRY WAYNE PHILLIPS and MICHAEL GLENN ELLINGTON. Trustees of NORTHSIDE BAPTIST CHURCH, personally appeared before me this day and acknowledged that they are the duly elected and presently acting Trustees of Northside Baptist Church and that they executed the foregoing and annexed instrument in their capacities as Trustees forand on behalf of Northside Baptist Church. WITNESS !ny hand and notarial seal, this the �12th day of June, 1998. rar'b�.H `r A tar ublic My Commission Expires: ,•` �.� esti 01%- r otig na3 = u; f0-fAR), (NOTARIAL SEALS :•yes 4 ,err, '•'•.a.•`� �:.rr BOOK PAGE 2397 0943 EXHIBIT "A" Dqsctjqjjqn of ft2aft for Ng"hai Church_ Iformorly I4lurte�l�ern4riel BeatLst Churc jft'mn..rfy MUr'reY1[Me SChun [Continuod) TRACT 2,. BEGINNING at an iron pipe in the Westerly line of the new Monkey Junction - Castle Bayne Highway, said highway having a width of 200 feet, said beginning point being at right angles to a point in the center of said highway being located North 14 degrees 42 minutes West 537.15 feet as measured along the center of said highway from the point of Intersection with the center line of the Murrayvi{le Road, said intersection point befog North 77 degrees 23 minutes East 400 feet from a point in the center line of saia Murrayville Road that is located North 36 degrees 30 minutes East 267 feet from a stone marked 'DLG", said stone being a corner of Alex Trask; running thence from said beginning point South 75 degrees 1 B minutes West 295.2 feet to an iron pipe; thence North 14 degrees 42 minutes West 295.2 feet to an iron pipe; thence North 75 degrees 18 minutes East 295.2 feet to an iron pipe in the Westerly line of said highway; thence South 14 degrees 42 minutes East with the Westerly line of said highway 295.2 feet lathe point of beginning. The same containing 2 acres and being a portion of a tract now owned by Alex Trask and known as the "Motte Tract" and being the same tract of land described in a deed from Alex Trask and wife, Virginia C. Trask, to the Trustees of the Murrayville Baptist Mission, dated February 27. 1957, and recorded in Bonk 590, Page 531, New Hanover County Registry 1`14H R"). TRACT 3. BEGINNING at an iron pipe in The Western right of way line of NC Highway 132 (200 -foot RIW), said pipe being North 14 degrees 42 minutes West 403-49 feet from a point where said western line of said NC Highway 132 is intersected by the Northern line of the Murrayville Road (60 -foot RlWI: said pipe also being South 14 degrees 42 minutes East 100,0 feet from an iron pipe in said western line of said highway at the Southeastern corner of the Tract conveyed to the Trustees of Murrayville Baptist Mission by deed recorded in Book 590 at Page 531 of the New Hanover County Registry; running thenCe South 75 degrees 18 minutes West 200.0 feet to an iron pipe; thence North 14 degrees 42 minutes West 100.0 feet to an iron pipe in the Southern line of said church tract; thence North 75 degrees 18 minutes East along said church tract line 200.0 feet to an iron in the said western line of said NC Highway 132; thence South 14 degrees 42 minutes East with and along the Western line of NC highway 132 100.0 feet to the point of beginning; the same containing 0.46 acres and being a portion of the Alex M. Trask land; and being in all respects the same tract described in the deed to the Trustees of Murrayville Baptist Church by deed recorded in Book 802 at Page 341 of said Registry. TRACT 4. BEGINNING at the Southwestern (i.e. Southernmost) corner of that tract conveyed to the Trustees of the Murrayville Baptist Mission by deed recorded in the New Hanover County Registry in Book 590 at Page 531; running thence North 75 degrees 18 nrinutes East along the Southern line of said tract. 95.2 feet To the Northwestern Il.e. Westernmost) corner of that tract conveyed to the Trustees of the Murrayville Baptist Church by deed recorded in said Registry in Book 802 at Page 341; thence South 14 degrees 42 minutes East along the Western line of the last-mentioned tract. 94.0 feet, thence South 75 degrees 18 minutes West 95.2 feet; thence North 14 degrees 42 minutes West 94.0 feet to the BEGINNING; containing 0.2 it acres, and being the same property conveyed to the Trustees of the Murray Memorial Baptist Church by deed dated 12/30/70 and recorded in Book 899 at Page 915. NHCR. TRACT 5, BEGINNING at a point in the Eastern right of way line of Owls Lane (60 foot right of way), said point being located North 14 degrees 42 minutes West 394-38 feet from the intersection of the Eastern right of way line of Owls Lane, with the northern right of way line of Secondary Road #1322; said point also being the Northwest corner of a tract of land described in Book 880 at Page 97 of the New Hanover County Registry ("NHCR"); running thence from said begrnnrng point North 75 degrees 18 minutes East 124.8 feel to the Northwest Corner of the Murrayville Baptist Church lot; running thence with the western line of Murravvllle Baptist Church lot, North 14 degrees 42 minutes West 28.6 feet to a point in said line; thence South 75 degrees 18 rnmutes West 124.8 feet to a pint in the Eastern right of way line o1 awls Lane; running thence with the Eastern right of way line of Owls Lane South 14 degrees 42 minutes East 28.6 feet to the paint of beginning; and being in all respects the same property conveyed to the Truszoes, Murrayville Memorial Baptist Church by deed dated 9119172 and recorded in Book 950 at Page 646, NH CR, BOOK PAGE 2397 0945 7HW , •. ry a r� ..re �r�..• .hr:. �r T— CT e- ❑ 7_ L3 L L B LA" -GINNING et a paint in the Eastern right of way fine of Owis Lane I60 foot right of way), said point being located North 14 degrees 42 minutes West 422.98 feet from the intersection of the Eastern right of way line of Owls Lane with the Northern right-of- way line of Bavarian Lane ;SR No. 13223 ISO -foot right of way1, said intersection paint is located South 77 degrees 23 minutes West 420.28 feet from the intersection of the Northern right of way line of Bavarian Lane with the Western right of way line of NC Highway 132 f200 -foot right of way), running thence with the Eastern right of way line of Owls Lane as above located, North 14 degrees 42 minutes West 120.2 feet to a point in said right of way; thence North 75 degrees 18 minutes East 124.8 feet to a point; thence South 14 degrees 42 minutes East 120.2 feet to a point; thence South 75 degrees 18 minutes West 124.8 feet to the point of Beginning; Lotw!5 L ne . BEGINNING at a point in the Eastern right of way line of Owls Lane (60 - foot right of way), said point being located North 14 degrees 42 minutes West 543.18 feet from the intersection of the Eastern tight of way line of Owls Lane with the Northern right-of- way line of Bavarian Lane (SR No. T 322) (60 -foot right of way), said intersection point is located South 77 degrees 23 minutes West 420.28 feet from the intersection of the Northern right of way line of Bavarian Lane with the Western right of way line of NC Highway 132 (240 -foot right of way), running thence with the Eastern right of way line of Owls Lane as above located, North 14 degrees 42 minutes West 120.2 feet to a point in said right of way; thence North 75 degrees IS minutes East 124.8 feet to a point; thence South 14 degrees 42 minutes East 120.2 feet to a point; thence South 75 degrees 18 minutes West 124-8 feet to the point of Beginning; The last two tracts comprising Tract S are in all respects the some property conveyed to Murray Memorial Baptist Church by deed recorded in Book 1473 at Page 0906, NHCR, together with a fie foot right of way over Owls Lane for ingress and egress to and from said Lots 7 and 8 as described in said deed. ■ I fM H t - ■ -41-11 ME F II - _F 1 Ir - N 1 ■ - - - ME - - - ■ F i ■ 1 r - 1 ■ ■ 1 - - 7 - i - 1 1114"N1101I11IIN1111NI 2007e451ie FOR REGISTRATION REGISTER OF DEEDS REBECCR P. SMITH NEW HANOVER COUNTY, NC 2007 SEP 10 02:32:00 PN BK:5229 PG:2509-2511 FEEV7,00 NC REV STRNP:$290,00 INSTRUMENT # 2001045110 Prepared By: Attorney Robbie B. Parker, Webb & Graves, P.L.L.C. Instrument prepared without examination as to title Return to: Webb and Graves, PLLC Revenue Stamps:$ 91c10,00 eap Parcel ID: R03412-006-012-000 NORTH CAROLINA GENERAL WARRANTY DEED NEW HANOVER COUNTY THIS DEED made and entered into this 10"day of September, 2007, by and between .toe G. Phillips, married hereinafter called "Grantor," and Northside Baptist Church of Wilmington, Inc., A North Carolina Non -Profit Corporation, hereinafter called "Grantee," whose mailing address is: 2501 N. College Road, Wilmington, NC 28405. The designation Grantor andGrantee as used herein shall include saidparties, their heirs, successors, and assigns, and shall include the singular, plural, masculine, feminine, or neuter as required by context. WITNESSETII: That the Grantor, for a valuable consideration paid by the Grantee, the receipt of which is hereby acknowledged, has and by these presents does grant, bargain, sell and convey unto the Grantee in fee simple, all that certain lot or parcel of land situated inNew Hanover County, North Carolina, and more particularly described as follows: Being all of Lot IA as shown on that map of Lucille S. Batson Division, Division of Lot 1, the same being recorded in Map Book 34, Page 132, of the New Hanover County Registry, reference to which is hereby made for a more particular description. TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging to the Grantee in fee simple. And the Grantor covenants with the Grantee, that Grantor is seized of the premises in fee simple, has the right to convey the same in fee simple; that title is marketable and free and clear of all encumbrances, and that Grantor will warrant and defend the title against the lawful claims of all persons whomsoever except for the exceptions hereinafter stated, if any. Title to the property hereinabove described is subject to the following exceptions a. County and/or Municipal Zoning Ordinances, Rules and Regulations, b. Restrictive Covenants, Easements and Rights of way of record. C. Ad valorem taxes for the year 2007 and thereafter, IN WITNESS WHEREOF, the Grantors have hereunto set their hands and seals, the day and year first above written. -,e)2 {SEAL} Phillips (SEAL} Delina D�Phfffip. STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I, Magdalena M. Parker, a Notary Public for New Hanover County, State of North Carolina, do hereby certify Joe G. Phillips and wife, Delina D. Phillips personally appeared before me this day acknowledging to me that they voluntarily signed the foregoing instrument for the purpose stated therein and in the capacity indicated. Witness my hand and official seal, this 10' day of September, 2007. MapNot" a Parlor Notary Public New Hanover County North Carotins Notary Public My commission expires: j C7 l ov)NTY. Q > w •FSr9Ri 1.4`,iti� �� REBECCA P. SMITH REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 ..r..aax..+..rww..r+..rr.x...a.......aY..+.r...wwe:.....r...Ke.►...r...a.xrr.....aa.....m...r.er..a-r.n.►.►r.emrr.. Filed For Registration: 09110/2007 02:32:00 PM Book: RE 5229 Page: 2509-2511 Document No.: 2007045110 DEED 3 PGS $17.00 NC REAL ESTATE EXCISE TAX: $290.00 Recorder: CRESWELL, ANDREA State of North Carolina, County of New Hanover YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2007045110* 2007045110 -i ;r-nr 16 - E --M-%t7-mr■ ii! E-�tF •fit I. �#DC�kJ�* _mi _ ,dam at V.- FOR REO STRR�TqION RFCrS?SR OF aEE65 r�'4'" E71RC0V�j�jyx nc 2906 MR 02 92:40:12 PIS Bu986 PG.-M-W FEf124.00 NC RV STwSm,ee 16i '912MO1691 Revenue Stamps: ID ac) -00 Recording time, book and page Parcel Identifier No. Pt of R03400-001-013-000 No certification or opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opinion. Prepared by: W. Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L,L.P. P. O. Drawer 2178 Wilmington, NC 28402 Grantee mailing address: 2501 N. College Road, Wilmington NC 28405 Returned to: W. Talmage Jones, 101 S. 3'd Street, Wilmington, NC 28401 - - STATE OF NORTH CAROLINA WARRANTY DEET] COUNTY OF NEW HANOVER KNOW ALL MEN BY THESE PRESENTS that STANLEY D. HOLLINGSWORTH and wife, VIRGINIA T. HOLLINGSWORTH, "GRANTOR;" in consideration of TEN THOUSAND AND NO/100 ($10,000.00) DOLLARS in cash paid to GRANTOR by GRANTEE and the acknowledgment by GRANTEE of a gift of property from GRANTOR worth FIFTEEN THOUSAND AND N0/100 ($15,000.00), do, by these presents, give, grant, bargain, sell and convey unto NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC. "GRANTEE", and GRANTEE'S, successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows: A one-half ('/) undivided interest in and to that property described in Exhibit A attached hereto and incorporated herein as tfset out in full TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple; and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions herein stated. Title to the property is subject to the following exceptions: The provisions of all applicable zoning and land use ordinances, statutes and regulations; current year ad valorem taxes; and all applicable restrictive covenants and utility easements of record. The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context, IN WITNESS WHEREOF, the GRANTOR has hereunto set his hand, or if corporate, has "i�se� this instrument to be signed in its corporate name by its duly authorized officer, this the „ day of AL _> 2006. ST D. HO INGSWO VIR IA T. HOLLINGS RTH STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I, a Notary Public in and for the State of North Carolina and County of New Hanover, do hereby certify that STANLEY D. HOLLINGSWORTH and wife, VIRGINIA T, HOLLINGSWORTH, personally appeared before me this day and acknowledged the due execu- tion of the foregoing instrument. Witness my hand and notarial seal, this rl day of _ 2006. Notary P c My Commission Expires: 4<—U9 (OFFICIAL SEAL) T:\DeedpecLeapsUiollleg,wenh Nim"de.2.wpd EXHIBIT A TRACT 1 Located in Harnett Township, New Hanover County, North Carolina and beginning at an existing iron pipe at the northwest corner of Tract H as shown on a composite map of various existing parcels for Northside Baptist Church and recorded in Map Bonk 46 at Page 286, New Hanover County Registry. Running thence, from the said point of beginning and with the western line of Tract H. Tract I, and Tract J, South 04 degrees 35 minutes 14 seconds West — 789.58 feet to an iron rod set in the center of a targe ditch; thence, North 70 degrees 17 minutes 14 seconds West — 62.37 feet to an iron rod set; thence, North 04 degrees 41 minutes 50 seconds East — 96.10 feet to an iron rod set; thence, North 11 degrees 48 minutes 26 seconds East — 170.40 feet to an iron rod set; thence, North 03 degrees 54 minutes 09 seconds East — 112.25 feet to an iron rod set; thence, North 07 degrees 20 minutes 24 seconds East — 203.78 feet to an iron rod set; thence, North 13 degrees 29 minutes 32 seconds East — 194.72 feet to the point of beginning, containing 0.667 acres more or less as computed by the coordinate method and being a part of that property conveyed to Virginia T. Hollingsworth in Deed Book 1735, Page 117, New Hanover County Registry. All bearing are in angular relation to NC Grid North (NAD 83) and all distances are horizontarfteld measurements. TRACT 2 Located in Harnett Township, New Hanover County, North Carolina and beginning at an iron rod at the southeast comer of Tract J as shown on a composite map of various existing parcels for Northside Baptist Church and recorded in Map Book 46 at Page 286, New Hanover County Registry. Running thence, from the said point of beginning and with the western right of way line of Red Hawk Road (SR No. 2617, 60 foot public right of way), South 18 degrees 20 minutes 46 seconds East — 45.75 feet to a point in the centerline of a large ditch extended; thence, to and with the centerline of said ditch, North 60 degrees 11 minutes 15 seconds West — 98.86 feet to a point in the southern line of Tract J; thence, with the southern line of Tract J, South 85 degrees 24 minutes 46 seconds East — 71.61 feet to the point of beginning, containing 1508 square feet as computed by the coordinate method and being a part of that property conveyed to Virginia Hollingsworth in Deed Book 1735 at Page 117, New Hanover County Registry. All bearings are in angular relation to NC Grid North (NAD 83) and all distances are horizontal field measurements. REBECCA P. SMITH REGISTER OF DEEDS, NEW HANOVER 218 NORTH SECOND STREET WILMINGTON, NC 28401 Filed For Registration: 03102/200602:40:12 PM Book: RF 4986 Page: 2386.2588 Document No.: 2006011681 DEED 4 PGS $20.00 NC REAL ESTATE EXCISE TAX: $20.00 Recorder: PHELPS, MICAH State of North Carolina, County of New Hanover YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2006011681* 2006011681 G��,y111 �� 1 2ft111 FOR REGISTRATION REGIs7ER OF DEEDS REaECCA P. SMITH NEW HPNOVER GOLWTIF arG 20D6 MpR 02 42:484 PM BK:06 PG:2502-2585 FROM HC REV 5TWS20.00 I1RU 1206 IS Revenue Stamps: UI -0- C—ND Recording time, book and page Parcel Identifier No, Part of R03400-001-013-000 No certification or opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opinion. Prepared by: W. Talmage Jones Hogue, Hill, Jones, Nash & Lynch, I.,L,P. P. O. Drawer 2178 Wilmington, NC 28402 Grantee mailing address: 2501 N. College Rd. Wilmington, NC 28405 Returned to: W. Talmage Jones._ 101 S. 3rd Street, Wilmington, NC 28401 STATE OF NORTH CAROLINA WARRANTY DEED COUNTY OF NEW HANOVER KNOW ALL MEN BY THESE PRESENTS that WILLIAM K, TRASK and wife, FRANKIE C. TRASK, "GRANTOR;" in consideration of TEN THOUSAND AND NO/100 ($10,000.00) DOLLARS in cash Paid to GRANTOR by GRANTEE and the acknowledgment by GRANTEE of a gift of property from GRANTOR worth FIFTEEN THOUSAND AND NO/100 ($15,000.00),do, by these presents, give, grant, bargain, sell and convey unto NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC. "GRANTEE", and GRANTEE'S, successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows: A one-half CIS) undivided interest in and to that property described in Exhibit A attached hereto and incorporated herein as if set out in full TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple; and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions herein stated. Title to the property is subject to the following exceptions; The provisions of all applicable zoning and land use ordinances, statutes and regulations; current year ad valorem taxes; and all applicable restrictive covenants and utility easements of record. The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. IN WITNESS WHEREOF, the GRANTOR has hereunto set his hand and seal, or if corporate, has caused this instrument to be signed in its corporate name by its duly authorized officer, this the c—�- day of 2006. WILLIAM K. TRAS N TRASK STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER 1, a Notary Public in and for the State of North Carolina and County of New Hanover, do hereby certify that WILLIAM K, TRASK and wife, FRANKIE C. TRAM personally appeared before me this day and acknowledged the due execution of the foregoing instrument. Witness my hand and notarial seal, this 0- day of �Cs�` , 2006. My Commission Expires: (OFFICIAL SEAL) TADadP-dWcs\Trmk_NoNuide 2 wpd Notary Pu is ..utlrkrL... EXHIBIT A TRACT 1 Located in Harnett Township, New Hanover County, North Carolina and beginning at an existing iron pipe at the northwest corner of Tract H as shown on a composite reap of various existing parcels for Northside Baptist Church and recorded in Map Book 46 at Page 286, New Hanover County Registry. Running thence, from the said point of beginning and with the western line of Tract H, Tract I, and Tract J, South 04 degrees 35 minutes 14 seconds West — 789.58 feet to an iron rod set in the center of a large ditch; thence, North 70 degrees 17 minutes 14 seconds West — 62.37 feet to an iron rod set; thence, North 04 degrees 41 minutes 50 seconds East — 96.10 feet to an iron rod set; thence, North 11 degrees 48 minutes 26 seconds East — 170.40 feat to an iron rod set; thence, North 03 degrees 54 minutes 09 seconds East — 112.25 feet to an iron rod set; thence, North 07 degrees 20 minutes 24 seconds East — 203.78 Feet to an iron rod set; thence, North 13 degrees 29 minutes 32 seconds East — 194.72 feet to the point of beginning, containing 4.667 acres more or less as computed by the coordinate method and being a part of that property conveyed to Virginia T. Hollingsworth in Deed Book 1735, Page 117, New Hanover County Registry. All -bearing are in angular relation to NC Grid North (NAD 83) and all distances are horizontaNeld measurements. TRACT 2 Located in Harnett Township, New Hanover County, North Carolina and beginning at an iron rod at the southeast comer of Tract J as shown on a composite map of various existing parcels for Northside Baptist Church and recorded in Map Book 46 at Page 286, New Hanover County Registry. Running thence, from the said point of beginning and with the western right of way line of Red Hawk Road (SR No. 2617, fio foot public right of way), South 18 degrees 20 minutes 46 seconds Fast — 45,75 feet to a point in the centeriine of a large ditch extended; thence, to and with the centerline of said ditch, North fio degrees 11 minutes 15 seconds West — 9$.86 feet to a point in the southern fine of Tract J; thence, with the southern line of Tract J, South 85 degrees 24 minutes 46 seconds East — 71.61 feet to the point of beginning, containing 1508 square feet as computed by the coordinate method and being a part of that property conveyed to Virginia Hollingsworth in Deed Book 1735 at Page 117, New Hanover County Registry. All bearings are in angular relation to NC Grid North (NAD 83) and alt distances are horizontal field measurements. REBECCA P. SMITH REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 •+- w�AawawewtA • vrwAevvvv- A.+fvvvvwiaa v++�iAMaA Ai+-v.�.vivy.vwvy w avww.�+vraaa+aw-a+iwev w+.�ti►vwa-..rwmvAv« Filed For Registration: 03/0212008 02:40:12 PM Book: RE 4988 Page: 2382-2585 Document No.: 2008011880 DEED 4 PGS $20.00 NC REAL ESTATE EXCISE TAX: $20.00 Recorder. PHELPS, MICAH State of North Carolina, County of New Hanover YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2006011680* 2006011680 Revenue Stamps: 41, (=, ICS 02) 11011111111111111 2004063381 FOR REISTRgTiOk REGISTER OF DEME GOR E COHRI YYLi7H �9B4 C 01 BKA561 W921-0 FEE317-M NC REQ STAMP: i,6i0-* Recording time, book and page Parcel [dentifierNo, R03412-006-002-000 R03412-005-005.000 R03412-005-004-000 803412-005-0034000 R03412-005-002-000 No certification or opinion on title is expressed by the preparer ofthis deed except as may appear from the preparer's signed certificate or opinion. Prepared by: W, Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L.L.P. P. O. Drawer 2178 Wilmington, NC 28402 Grantee mailing address: 2501 North College Road, Wilmington, NC 28405 Returned to: W. Talmage Jones, 101 S. 3' Street, Wilmington, NC 28401 STATE OF NORTH CAROLINA WARRANTY DEED COUNTY OF NEW HANOVER KNOW ALL MEN BY THESE PRESENTS that WALOWIN, INC., a North Carolina corporation, "GRANTOR;" in consideration of TEN AND N01100 ($10.00) DOLLARS and other good and valuable consideration, paid to GRANTOR by NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina Corporation, "GRANTEE," the receipt of which is hereby acknowledged, by these presents, does give, grant, bargain, sell and convey unto the said GRANTEE, and GRANTEE'S heirs, successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows: BEING all of Tracts "B" and "G" as shown on plat entitled "Composite Map of Various Existing Parcels for the Northside Baptist Church"recorded in Map Book 46, Page 286 of the New Hanover County Registry. TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple; and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions herein stated. Title to the property is subject to the following exceptions: The provisions of all applicable zoning and land use ordinances, statutes and regulations; current year ad valorem taxes; and all applicable restrictive covenants and utility easements of record. The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. IN WITNESS WHEREOF, the GRANTOR has hereunto set his hand, or if corporate, has caused this instrument to be signed in its corporate name by its duly authorized officer, this the 3,0_ day of �.9c�cre �.►,(o�n , 2004, WALOWIN, INC. a North Carolina corporation BY: 0, W Walter O. Winter, President STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER 1, a Notary Public in and for the State of North Carolina and County of New Hanover, do hereby certify that Walter 0. Winter came before me this day and acknowledged that he is President of WALOWIN, INC., a North Carolina corporation, and that he, as President, being authorized to do so, executed the foregoing on behalf of the corporation. Witness my hand and notarial seal, this iia day of tJoc =4*J6w/L_ ,2c)g(, No blit My Commission Expires: S (OFFICIAL SEAL) *0TA FO' � t'ili3l.1G T:1DwdP&&aga,l W allowm_NuMeideBG.wpd REBECCA T. CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 Filed For Registration: 1210112004 02:11;57 PM Book: RE 4587 Page: 920-922 Document No.: 2004063381 DEED 3 PGS $17.00 NC REAL ESTATE EXCISE TAX: $1,610.00 Recorder: MARVIS ANN STORER State of North Carolina, County of New Hanover The foregoing certificate of KELLY REPKO Notary Is certified to be correct. This 1 ST of December 2004 REBECCA T. CHRISTIAN, REGISTER OF DEEDS DeputylAssletzmt Register of Deeds YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2004063381* 2004063381 .= MIN W4O Galp- 0 .-PI = ■ ■ — ti Alm. i Z -i --"v:U - ■F. 1 r :: �. — Mi IF :1101 . mm[—FI r1— ■ — — _ rT- —' H -MEN 1-- ■ — 1 -. :�m r---mLm- -■+ - ICEmm- A■r` IMEMMIN ■ -IM iMlH ■ FIN --- 1—mj� Qom ■\. Mi &+ — �i ■ 3 - - �Lr �� ■-ter ■ ®`'a �-7 2004053380 FOR R Ct STRgT1DH[}Rp��4r5i R OF DME HEY 1:M70VFR COl STT!AN NC M4 DEC of 62:11:5? PH BKA587 K917419 FfE:$17.66 X REV STPF:s2n.00 Revenue Stamps: v a6O- c.7t7 Recording time, book and page Parcel Identifier No. R03412-005-006-000 No certification or opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opinion. Prepared by: W. Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L.L.P. P. O, Drawer 2178 Wilmington, NC 28402 Grantee mailing address: 2501 North College Road, Wilmington, NC 28405 Returned to: W. Talmage Jones, 101 S. 31 Street, Wilmington, NC 28401 STATE OF NORTH CAROLINA WARRANTY PEED COUNTY OF NEW HANOVER KNOW ALL MEN BY THESE PRESENTS that WALTER O, WINTER and wife, IRIS L. WINTER, "GRANTOR;" in consideration of TEN AND NO/100 ($10.00) DOLLARS and other good and valuable consideration, paid to GRANTOR by NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina Corporation, "GRANTEE," the receipt of which is hereby acknowledged, by these presents, does give, grant, bargain, sell and convey unto the said GRANTEE, and GRANTEE'S heirs, successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows: BEING all of Tract "F" as shown on plat entitled "Composite Map of Various Existing Parcels for the Northside Baptist Church"recorded in Map Book 46, Page 286 of the New Hanover County Registry. TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple; and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions herein stated. Title to the property is subject to the following exceptions: The provisions of all applicable zoning and land use ordinances, statutes and regulations; current year ad valorem taxes; and all applicable restrictive covenants and utility easements of record. The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. IN WITNESS WHEREOF, the GRANTOR has hereunto set his hand, or if corporate, has caused this instrument to be signed in its corporate name by its duly authorized officer, this the 2aday of 2004. OI W WA RATER NTER I STATEOF NORTH CAROLINA COUNTY OF NEW HANOVER 1, a Notary Public in and for the State of North Carolina and County of New Hanover, do hereby certify that WALTER O. WINTER and wife, IRIS L. WINTER, personally appeared before me this day and acknowledged the due execution of the foregoing instrument. Witness my hand and notarial seal, this _:�Q day of Ili-0Ue dA Notary 9blic My Commission Expires:� ` tied�+.�.tLL�Y,�nr�r!'�i4+ (OFFICIAL SEAL) : `,�.P' +.+ �kOTARr y y r �tLlG i• .` ��IIII{111551{1 'r:\DccdP&cky{a\Wimp NorthlideF wpd REBECCA T. CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 Filed For Registration: 12101/2004 02:11:57 PM Book: RE 4587 Page: 917-919 Document No.: 2004083380 DEED 3 PGS $17.00 NC REAL ESTATE EXCISE TAX: $230.00 Recorder: MARVIS ANN STORER State of North Carolina, County of New Hanover The foregoing certificate of KELLY REPKO Notary Is certified to be correct. This 1 ST of December 2004 REBECCA T. CHRISTIAN, REGISTER OF DEEDS By: YhA�tm— Atftmo DeputylAsslatm tRagister of Deeds YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2004063380* 2004063380 = f -Fr= ■ P. I�m ■ - F�� 1 t ■ 7 - H H F7 ■ FHS �� ■--fes -■� E&iL-E-A -F NEED-=- mmm!m= �f --- i-- �■6- r ■ rFi f Ff f ww!nmLM�mm TmE■rOMW -mm9m -- - 06� 4 a' 2004003379 FOR RE416TRf7T7710N REG_LSTER OF DEEDS HEyFgHpVER COIJHTONYt 1.�1 N HC 2004 0EC 6i 02: i BK:4587 PG:914-916 FE: $17,00 HC REV STRPIMA0 1161M # 209 E179 Revenue Stamps: c_k> Recording time, book and page Parcel Identifier No. R03412-007-004-000 No certification or opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opinion. Prepared by: W. Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L.L.P. P. O. Drawer 2178 Wilmington, NC 28402 Grantee mailing address: 2501 North College Road, Wilmington, NC 28405 Returned to: W. Talmage Jones. 101 S. 3rd Street. Wilminbnon. NC 28401 STATE OF NORTH CAROLINA WARRANTY PUD COUNTY OF NEW HANOVER KNOW ALL MEN BY THESE PRESENTS that STANLEY D. HOLLINGSWORTH and wife, VIRGINIA T. HOLLINGSWORTH, "GRANTOR;" in consideration of TEN AND N01100 ($10.00) DOLLARS and other good and valuable consideration, paid to GRANTOR by NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina Corporation, "GRANTEE," the receipt of which is hereby acknowledged, by these presents, does give, grant, bargain, sell and convey unto the said GRANTEE, and GRANTEE'S heirs, successors, and as- signs, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows: BEING all of Tract J as shown on plat entitled "Composite Map of Various Existing Parcels for the Northside Baptist Church"recorded in Map Book 46, Page 286 of the New Hanover County Registry. TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple; and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions herein stated. Title to the property is subject to the following exceptions: The provisions of all applicable zoning and land use ordinances, statutes and regulations; current year ad valorem taxes; and all applicable restrictive covenants and utility easements of record. The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. IN WITNESS WHEREOF, the GRANTOR has hereunto set his hand, or if corporate, has caused this instrument to be signed in its corporate name by its duly authorized officer, this the day of —ppc ern , �2004. STAN D. HOLL GSWOR UL 1 1) , VIRG IA T. HOLLINGSW TH STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER 1, a Notary Public in and for the State of North Carolina and County of New Hanover, do hereby certify that STANLEY D. HOLLINGSWORTH and wife, VIRGINIA T. HOLLINGSWORTH, personally appeared before me this day and acknowledged the due execu- tion of the foregoing instrument. Witness my hand and notarial seal, this �_ day of , Notary is My Commission Expires: - J "tc)b (OFFICIAL SEAL) T;\DeedPeckagvMoUingaworib Northside wpd REBECCA T. CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 Filed For Registration: 12/01/2004 02:11:57 PM Book: RE 4587 Page: 914-916 Document No.: 2004063379 DEED 3 PGS $17.00 NC REAL ESTATE EXCISE TAX: $230.00 Recorder. MARVIS ANN STORER State of North Carolina, County of New Hanover The foregoing certificate of KELLY REPKO Notary Is certified to be correct. This 1 ST of December 2004 REBECCA T. CHRISTIAN, REGISTER OF DEEDS Deputy/AsslstaniReglster of Deeds YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2004063379* 2004063379 3'1 RU ■��i�-� ■-i ir- %-L FEW - t ■--Ff t - FF i ■--�F - - r i i iL- F ♦ i--� -m --m - imo - 9r =1 f t� � ri--�F ff ■ - - � ��iM" t:MPF e-% :r WENAa � Revenue Stamps: r 1?1?0- imilloomillif 2064t3fi8379 FOR RE815TRRTIprJ REGIsTFA OF DEEDS RE9ECCR r. CHRISTI RN NTLI HAApp4ER C YY. NC 2064 EC 0102:11:67 M 8K:4587 9:911-913 FEE -417D NC REY STAPPI , Das Recording time, book and page Parcel Identifier No. R03412-006-003-000, R03412-006-004-000, R03412-006~005-000, R03412-0064)06000, R03412-006010-000, R03412-006-009-000, R03412-006008-000, R03412-006-007-000, R03412-007-001-000, R03412-005-001-000, R03412-007-003-000, R03412-007.002-000 No certification or opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opinion, Prepared by: W. Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L.L.P, P. O. Drawer 2178 Wilmington, NC 28402 Grantee mailing address: 2501 North College Road, Wilmington, NC 28405 Returned to: W. Talmaee Jones. 101 S. 3rd Street, Wilmiogran, NC 28401 STATE OF NORTH CAROLINA WARRANTY DEED COUNTY OF NEW HANOVER KNOW ALL MEN BY THESE PRESENTS that WILLIAM K. TRASK and wife, FRANKIE C. TRASK, "GRANTOR;" in consideration of TEN AND NO/ 100 ($10.00) DOLLARS and other good and valuable consideration, paid to GRANTOR by NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina Corporation, "GRANTEE," the receipt of which is hereby acknowledged, by these presents, does give, grant, bargain, sell and convey unto the said GRANTEE, and GRANTEE'S heirs, successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows: Being all of Tracts E, H & I as shown on plat entitled "Composite Map of Various Existing Parcels for the Northside Baptist Church" recorded in Map Book 46, Page 286 of the New Hanover County Registry. TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple; and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions herein stated. Title to the property is subject to the following exceptions: The provisions of all applicable zoning and land use ordinances, statutes and regulations; current year ad valorem taxes; and all applicable restrictive covenants and utility easements of record. The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. IN WITNESS WHEREOF, the GRANTOR has hereunto set his hand and seal, or if corporate, has caused this instrument to be signed in its corporate name by its duly authorized officer, this the _�_ day of "c 2004. WILLIAM K. TRASK STATE OF NORTH CAROLINA FC. TRASK COUNTY OF NEW HANOVER I, a Notary Public in and for the State of North Carolina and County of New Hanover, do hereby certify that WILLIAM K. TRASK and We, FRANKIE C. TRASK, personally appeared before me this day and acknowledged the due execution of the foregoing instrument. Witness my hand and notarial seal, this : day of �.r. >P�, 2004. Notary Pjlir, My Commission Expires:�5 do o? (OFFICIAL SEAL) NOTAgr ftar- TIP-cr '�c6-ve-\reek Nmthaidempd REBECCA T. CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 Flied For Registration: 12/0112004 02:11:57 PM Book: RE 4587 Page: 911.913 Document No.: 2004083378 DEED 3 PGS $17.00 NC REAL ESTATE EXCISE TAX: $2,990.00 Recorder. MARVIS ANN STORER State of North Carolina, County of New Hanover The foregoing certificate of KELLY REPKO Notary Is certified to be correct. This 1 ST of December 2004 REBECCA T. CHRISTIAN, REGISTER OF DEEDS By: Deputy/Assistant Register of Deeds YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2004063378* 2004063378 I 100 ;1 11 Is. A13 .101 64AA SIYAA�- VtRA lc-. wn Cn: S-,Orvc:Iads 1: y `i C, e ;�Lkl JA f i V a! 7.13 H Z 3'T- W�-' .1 .IY 0 110 --4 �5 I,- _;I ibo E 'f U,—jl ) Cl —'A k P C) kV W ' I I? 1, 7 :3 a 8� 4 J, i 00 DF DEED' pEG15tE� r,FON R�F��tVER c'u`-1 �rS� t� Excise Tax Recording time, book and page Parcel Identifier No R03412-006-003-000 No certification or opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opinion Prepared by W Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L L P P O Drawer 2178 Wilmington, NC 28402 Grantee marling address 2501 North College Road, Wilmington, NC 28405 Returned to W Talmage Jones, 101 S 3rd Street. W'rlrir[ngton, NC 28401 STATE OF NORTH CAROLINA WARRANTY DEED COUNTY OF NEW HANOVER KNOW ALL MEN BY THESE PRESENTS that WILLIAM K. TRASK and wife, FRANKIE C TRASK, "GRANTOR," in consideration of TEN AND N01100 ($10 00) DOLLARS and other good and valuable consideration, paid to GRANTOR by NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC, "GRANTEE," the receipt of which is hereby acknowledged, by these presents, does give, grant, bargain, sell and corivey unto the said GRANTEE, and GRANTEE'S heirs, successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows See attached Exhibit "A" and "A-1" incorporated herein as if set out in full. TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple, and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple; and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee supple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will wan -ant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions herein stated Title to the property is subject to the following exceptions. The provisions of all applicable zoning and land use ordinances, statutes and regulations, current year ad valorem taxes, and all applicable restrictive covenants and utility easements of record. The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context IN WITNESS WHEREOF, the GRANTOR has caused this instrument to be signed this thea day of 2004 (SEAL) WILLIAM ZQ r{SEA STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER 1, a Notary Public to and for the State of North Carolina and County of New Hanover, do hereby certify that WILLIAM K. TRASK and wife, FRANKIE C TRASK, personally appeared before me this day and acknowledged the due execution of the foregoing mstr invent Witness my hand and notarial seal, this 3 day of r r , 2004 �j Notaryhe �►►►►i►►sinpy • My Commission Expires s a �7 ti•' •' (OFFICIAL SEAL) ��•'`+ie�� U:.:f J rli ■ T 1DeedPeckegu\Trask NonhsidedeplislChurch wpd •'i•��, �+�. _�� MUM "Al' Legal Description for Northside Baptist Church of Wilmington, Inc Part of Parcel No R03412 006 003 000 Located in Cape Fear Township, New Hanover County, North Carolina and beginning at an existing iron pipe in the western line of Owls Lane (60 foot public right of way as shown on a trap recorded in Map Book 34 at Page 66) that leads earthward from Bavarian Lane (60 foot public right of way) and at the southeast corner of that property conveyed to William K Trask in Deed Book 906 at Page 684 and recorded in the New Hanover County Registry, Said iron pipe is also located North 14 degrees 42 minutes 00 seconds West - 603 84 feet from a point in the northern right of quay line of Bavarian Lane where it is intersected by the western right of way brie of Olvls Lane Running thence, from the said point of beginning and with the southern line of the William K Trask property, South 75 degrees 18 minutes 00 seconds West -150.00 feet to a iron rod set at the southeast comer of Lot No 31 as shown on an unrecorded map of Quail Ridge Subdivision surveyed by Jack O Stocks in September 1971, thence, with the eastern line of Lot No 31 and the western line of the William K Trask propeMty, North 14 degrees 42 minutes 00 seconds West - 100,00 feet to an existing iron pipe atl the northeast corner of Lot No 31, thence, a row line, North 75 degrees 18 minutes 00 Iseconds East - 150 00 feat to an iron rod ad in the western right of way line of Owls Late, thence, with the western right of way line of Owls Lane, South 14 degrees 42 minutes 00 seconds East -• 100 00 feet to the point of beginning, containing 15,000 square feet as computed by the coordinate method and being a part of that property conveyed to William K Teak in Deed Book 906 at Page 684 and recorded in the New Hanover County Registry The above property is subject to an easement for access to and maintenance of a well serving the adjacent properties owned by Mr William K Trask to the north Said easement is described as follows Beginning at a point in the northern line of the above described property that is located North 14 degrees 42 minutas 00 seconds West - 703 84 feet and South 75 degrees 18 minutes 00 seconds West - 7 00 feet from a point in the northern right of way line of Bavarian Lane where it is intersected by the western right of waylline of Owls Lane Running thence, from the said point of beginning and parallel with the western line of Owls Lane, South 14 degrees 42 minutes 00 seconds East - 16 50 feet to a point; thence, parallel with the northern line of the above described property, South 75 degrees 18 minutes 00 seconds West - 10 00 feet to a point, thence. North 31 degree$ 33 minutes 31 seconds West - 17 24 feet to a point in the northern line of the above described property, thence, with the northern line of the above described property, North 75 degrees l8 minutes 00 seconds East -15 00 feet to the point of beginning All bearings are in angular relation to magnetic north (DB 906, Pig 684) and all distances are horizontal field measurements This property was surveyed, trapped, and described by Robert H Goslee & Associates, PA during January 2004 ........ Manley D. Carr, PLS Robert H Godee & Associates, PA - P 0 Box 133 - 2° ..B' Lwow T RW 00 m TO WUm X MASK DOES NOT Lri MTHN IA 100 MW FL000 r�q Cot# Ij''FL00i7 (A6't1RINCE RAW MAP. f1(APRfLwil%•r1966J �,LOADZONE C ryAS -N81ET1 ON A4W Af�ChtE1lC'�4�j� (OB 906 2 s61J WE HR�'ZCWTALr'F1Et.0iwe COM AIFAS{1RF;tE7fT$7 i' QUADRIDGE SL UNRECORDED A" LOT 33 LOT 31 i 0 o• ,aa„ �r w m twav Nav�ov��,r�st J am traxrA� otakwn ■ +mss CAM MaVAdo r • OM rpmffm mw&l a►� sm + n� ur w�"la ewe seri • roe {E*M4 oro Atto PNarner 1NE WICWW MAP (Mr.) N — — — N0+-wncM ue ustaoarLAC I .33'31 N 14'42'00'W 100 00' LANE sD' PLIBCIC R 94P WOK 34 AT PAGE 66 MAP OF SURVEY FOR 3 31INSERT Mgr LL f F.ISEMEN ^ oSE y L- 1--20' S 14W E e. f. a LOT 29 <-„o 2 v PART OF TRACT TO �= WILLIAM K. TRASK 0o 06 906, PG 664 rqS S RCN oy y C NQ,pFy pG' sB* NORTHSIDE BAPTIST CHURCH OF Wffm7NGTON, mc. A PART OF THE WI.U" K. TRASK PROPERTY QUAIL RIDGE SU901VSION CAPE FEAR TOWNSHIP — NEW HANOVE'R COUNTY — NORTH CAROLINA SCALE.I.," = 50' JANUARY 19, 2004 `.y�,ryrrrrtrtittrr. 1, Mentay D. CUMPL$ Cartify that thiq Plot ,ros druwn undar my supervis on Irvrn rm `10. �rl�p/,. octual fiaW surety modN under my ser rsan f, n informea+mn as noted haman; that `` t1M hoyndpnes rwt surnryed ami Char fndicetad ers dashed 1ina.7• that the mw �Q Of PrEC490e ar eekulatad fa 1:10,oD0+ and u Correct to the bast of my knawtEdge a and befW.. lnsaa rt+y ;Signature. Lieerrsa Number and $eat SEAL W1 day of AD, 2004. F L-2MO p S UR 1C {t NC Ucana NO.' L -25M F ROBERT H. COSLE �ITES, PA 50 0 50 1 100 � 150 7 LAND —t -- �v I AACE NOMH G4RO 7 A 28466 GRAPHIC f' SCAB ' — FEETI ' F2E No. NH 22 I � AREA - 15000 SF v� BY COORDINATE METHOD 1 p5{7�Yp�@pR�ICK M DAAL4GE"f] BY FIRE 7L li lib' 70 BE REMOYM VC� a SEE INSERT FOR WELL IAIEMEN—�r•c N 14'42'001V6d3.B4� C F, S 14'4 2 00 100.00 LANE sD' PLIBCIC R 94P WOK 34 AT PAGE 66 MAP OF SURVEY FOR 3 31INSERT Mgr LL f F.ISEMEN ^ oSE y L- 1--20' S 14W E e. f. a LOT 29 <-„o 2 v PART OF TRACT TO �= WILLIAM K. TRASK 0o 06 906, PG 664 rqS S RCN oy y C NQ,pFy pG' sB* NORTHSIDE BAPTIST CHURCH OF Wffm7NGTON, mc. A PART OF THE WI.U" K. TRASK PROPERTY QUAIL RIDGE SU901VSION CAPE FEAR TOWNSHIP — NEW HANOVE'R COUNTY — NORTH CAROLINA SCALE.I.," = 50' JANUARY 19, 2004 `.y�,ryrrrrtrtittrr. 1, Mentay D. CUMPL$ Cartify that thiq Plot ,ros druwn undar my supervis on Irvrn rm `10. �rl�p/,. octual fiaW surety modN under my ser rsan f, n informea+mn as noted haman; that `` t1M hoyndpnes rwt surnryed ami Char fndicetad ers dashed 1ina.7• that the mw �Q Of PrEC490e ar eekulatad fa 1:10,oD0+ and u Correct to the bast of my knawtEdge a and befW.. lnsaa rt+y ;Signature. Lieerrsa Number and $eat SEAL W1 day of AD, 2004. F L-2MO p S UR 1C {t NC Ucana NO.' L -25M F ROBERT H. COSLE �ITES, PA 50 0 50 1 100 � 150 7 LAND —t -- �v I AACE NOMH G4RO 7 A 28466 GRAPHIC f' SCAB ' — FEETI ' F2E No. NH 22 I � REBECCA T. CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 H.. ff �R}R}.}fffM •}}iffef R HRMRtiMRf f fffNiiR}ff • •}}ffH}Mf}ff fARRffffff}ff RRRiffM}tMiRf flfff fffff.H...Rwff f fffff Filed For Registration: 02/03/2004 04:05:40 PM Book: RE 4182 Page: 718-722 Document No.: 2004008451 DEED 5 PGS $23.00 NC REAL ESTATE EXCISE TAX: $100.00 Recorder- ANDREA FULFORD H. H R • f}.M. f}}.f.ff}A}}f • M fRf}.HRH • H. • • H}f.. �.ffr.f.....f}fH •.HR.ff Rf1fi • M fffkifi... ff}f1i....... f f}fH State of North Carolina, County of New Hanover The foregoing certificate of KELLY REPKO Notary Is certified to be correct. This 3 RD of February 2004 REBECCA T. CHRISTIAN, REGISTER OF DEEDS Register of Meds YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORD90 DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2004005451* 2004005451 f m FLK - =F t �F � ■11 ■�F i ■rte � ■ y - �■r �i1 IH t tF ■ F f NNNN ■ F - ■ f- 1 F — H fNNNN — 1 - - F f 1 ti _ 1 ■ - - - Mill- -FI■1-- - JrL r --m EA-MELE tiFM 1 1■1No iiiiiii mom 106=0 1 lop FOR REGI5TRiiT[ON REGISTER OF DEEDS NE NC COWNTYIQNC 2003 DEC 19 03 1108 PM BK-4137 P022-124 FEE.$17 00 NC REV STPMP • $33 00 INFUM M # MEN Draftsman: DAVID C. BAREFOOT PARCEL NO R03412-006-011-000 STATE OF NORTH CAROLINA WARRANTY DEED COUNTY OF NEW HANOVER THIS DEED, made and entered this -day of December, 2003, by and between JOHN G. STEWART and wife, DARLENE S. STEWART (hereinafter called "Grantor"), and NORTHSIDE BAPTIST CHURCH OF WILMINGTON, Inc. (hereinafter called "Grantee"), whose mailing address is 2501 North College Road, Wilmington, NC 28405 (whether one or more persons, firms, or corporations) The designation Grantor and Grantee as used herem shall include said parties, their helm, successors and assigns, and shall include singular, plural, masculine, feminine or neuter a required by context WITNESSETH THAT the said Grantor, in consideration of the sum of TEN ($10 00) DOLLARS, and other good and valuable considerations paid to it, receipt of which is hereby acknowledged, has bargained and sold, and by these presents does hereby grant, bargain, sell and convey unto the said Grantee the following described lands located in the City of Wilmington, County of New Hanover, State of North Carolina, and being more particularly described as follows BEING all of Lot IB, as shown on that Map of Lucille S Batson Division, of Lot 1, the same being recorded in Map Book 34 at Page 132, New Hanover County Registry, reference to which map is hereby made for a more particular description TO HAVE AND TO HOLD the above granted and described lands and premises, together with all and singular, the rights, privileges, easements, tenements, duties, obligations and appurtenances thereunto belonging, or in anywise appertaining unto the said Grantees, in fee simple, FOREVER (jA"rvn-t0• -ba6' d C • & e --fu* AND said Grantor covenants with Grantee that the Grantor is seized in fee simple of the above granted and described premises, and has good right to sell and convey the same in fee simple, that the title is marketable and free and clear of all encumbrances, except as herein set forth, and except for 2003 ad valorem taxes, and usual utility easements and rights of way of record, and that said Grantor will WARRANT AND DEFEND the title to the same against the lawful claims and demands of any and all persons whomsoever IN TESTIMONY WHEREOF, the parties of the first part have hereunto set their hands and seals all the day and year first above written (SEAL} J G STEWART I STATE OF KA.N(� S a rIC COUNTY OF I, ,lbn �`� d� a Notary Public in and for the aforesaid County and State do hereby certify that JOAN G. STEWART and wife, DARLENE S. STEWART personally appeared before me this day and acknowledged the due execution of the foregoing instrument WITNESS my hand and notarial seal, this the I day of Decem , 2003 Notary Pu t My Commiss Expires a•3. (NOTARIAL SEAL) JON C. MOFFITI' Notary Public- State of Kangas MY Appt Exp g -&-O REBECCA T CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 *iRSAA#AA#*!!Ai#!*A*#f*wi!*A#ARARA*iAAR##A#A#***#A!*RA#A**A*#A#AA#Ai**AAAAA***AARARR#!!!*#*R!#fA#A#N#AA*#A#A#!##*fAAAfR# Filed For Registration: 12119/2003 03:11:08 PM Book: RE 4137 Page: 122-124 Document No.: 2003080234 DEED 3 PGS $17.00 NC REAL ESTATE EXCISE TAX: $33.00 Recorder: LIESEL WARD A***R**A*pe RR*RRAA*R*RA***R##*#k**R*#fat**R*R*A****R***RAAAAR*R*R*AA*R*R ARl4AR••**BARK*A**A***p**R*R#*RR**R*RR RA**Reta #* State of North Carolina, County of New Hanover The foregoing certificate of JON C MOFFITT Notary is certified to be correct. This 19TH of December 2003 REBECCA T. CHRISTIAN, REGISTER OF DEEDS DeputyfAftts%at Register of Deeds YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2003080234* 2003080234 ■ L di Fi U" � I -.m Fa-- ll�- I �_ NMI ■ _ _ ■ _ ■ _ `_ `y _ _ ■ �..■yyF _ iF■ --m f MMMM. ME ■■■rte NIFENUMM -- --im - f - t - ■ - - ■ - - 1 ----m - --iW- t - �� ■ — RLP p — —%1 ■ m ri ■ Li I ■ 1 P— = 1 VO Ili i616-91`4 �m— : i — TA -ii Iia:■ ♦ -I W:5Mi7-■ J&JlCp&i_ mS_ i -. - j& : =:L%l 2003039658 FOp RECI6TRRr[41ip� F53Eq 9F DEEDS REBECCA 7 CHRisT [::! NT-OF 25 03.09Y11�P�1 BK•3857 PG 339342 FEE.320 00 RC REV STPMF $476A I57*9 OW39669 Excise Tax Recording time, book and page Parcel Identifier No R03412-005-008-000 and R03412-005-007-000 No cemfiratian or opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opmlon Prepared by W Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L L P P O Drawer 2178 Wilmington, NC 28402 Grantee mailing address 2501 North College Road, Wilmington, NC 28405 Returned to W Talmaae Jon4as, 1018 31 Strtra. Wil=irton, NC 28401 STATE OF NORTH CAROLINA ARR COUNTY OF NEW HANOVER _WAN-TY-DM KNOW ALL MEN BY THESE PRESENTS that RACHEL TRASK GONSALVES and husband, STEPHEN A GONSALVES, "GRANTOR," in consideration of TEN AND NO/100 ($10 00) DOLLARS and other good and valuable consideration, paid to GRANTOR by NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC, a North Carolina Non -Profit Corporation, "GRANTEE," the receipt of which is hereby acknowledged, by these presents, does give, grant, bargain, sell and convey unto the said GRANTEE, and GRANTEE'S successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows: Lot 11 BEGINNING at a point in the Eastern nght-of-way line of Owl's Lane (60 foot right-of- way), said point being located North 140 42' West 883 58 feet from the intersection of the Eastern right-of-way line of Owl's Lane with the Northern right-of-way line of Bavarian Lane (SR #1322) said intersection point is located South 77° 23' West 420 28 feet from intersection of Northern nght-of-way line of Bavarian Lane (60 foot right -o F way) with the Western right -o£ way hne of N. C Highway #132 (200 foot right-of-way), iummmg thence with the Eastern right - of --way line of Owl's Lane as above located North 140 42' West 100.0 feat to a point in said right- of-way, thence North 750 18' East 150 0 feet to a point; thence South 14° 42' East 100 0 feet, to a point, thence. South 75° 18' West 150.0 feet to the point of BEGINNING, together with a 60 foot nght-of-way (Owl's Lazne) for ingress and egress to and from said property The Eastern right-of- way of Owl's Larne is located South 77° 23' West 420.28 feet from the intersection of Northern right-of-way hne of Bavarian Lane (SR #I322) and the Western right-of-way line of N C. Highway #132 (200 foot nght-of-way) and said Eastern line of OwI's Lane runs North 14'42' West beyond the above described lot Lot 12 BEGINNING at a point in the Eastern nght-of--way line of Owl's Lane (50 foot right-of- way), said point being located North I40 42' West 983.58 feet from the intersection of the Eastern Tight -of -way line of Owl's Lane with the Northern right-ef-way 11ne of Bavanan Lane (SR #1322) said intersection point is located South 77° 23' West 420 28 feet from said mtersectton of Northern nght-of-way Iine of BIvan an Lane (60 foot nght-of-way) with the Western nght-of way i i n e of N C. Highway 4 132 (2 00 fopI nght-of-way) running thence with Eastern right-of-way Iine of owl's Lane as above located North 14° 42' West 100 o feet to a point in said right-of-way; thence North 750 18' East 154 0 feet to a point, thence South 14° 42' East 100.0 feet to a point, thence South 75° 18' West 150 0 feet to the point of beginning, together with a 60 foot nght-of-way (Owl's Lane) for ingress and egress to and from said property, the Eastern right of way of said Owi's Lane I located South 77° 23' West 42 0.2 8 feet from intersection of Northern right-of-way line of Bavarian Lane (SR # 1322) and the Western right-of-way line of N. C highway # 132 (200 foot right-of-way), and said Eastern ]Inc of Owl's Lane runs North 14° 42' West beyond the above described lot This is the very same property conveyed to Rachel Trask from Atcx M Trask, Sr and wife, Virginia C Trask by deed dated February 29, 1972 and recorded 3n Book 930 at Pages 649- 651 of the New Hanover County register of Deeds Office TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's successors, and assigns, forever, in fee simple; and the GRANTOR, for themselves, their heirs, successors and assigns, does covenant with the said GRANTEE and said GRANTEE's successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the Tight to convey the same m the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful Claims of all persons whomsoever, except for the exceptions herein stated Title to the property is subject to the following exceptions: The provisions of all applicable zoning and land use ordinances, statutes and regulations, current year ad valorem taxes, and all applicable restrictive covenants and utility easements of record The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context, IN WITNESS WHEREOF, the GRANTOR has signed this deed this the, day of June, 2003 g(A (SEAL) RACHELTRASK GONSALVES (SEAL) STEPHEN A. GONSALVES STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I, a Notary Public in and for the State of North Carolina and County of New Hanover, do hereby certsfy that RACHEL TRASK GONSALVES and husband, STEPHEN A GONSALVES, personally appeared before me this day and acknowledged the due execution of the foregoing instrument Witness my hand and notarial seal, this day of June, 2003 1 Iii IVa Abhc My Commission Expires (OFFICIAL SEAL) a` ? 0TARY T 1Dee&wkagn\Gomlvea_NoMsideBgbstClurb wpd REBECCA T CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 26401 RH •}►RwwfRRH H Y►►YYYHHf Y H •f•H!! HH ....... R RR! • RR.......... RR R\\R} RRRfRRRM i RR►R►f RRHRH lHf►RR R►R H!R Filed For Registration: Book: Document No.: NC REAL ESTATE EXCISE TAX: Recorder: 08/25/2003 03:09:11 PM RE 3857 Page: 33942 2003039658 DEED 4 PGS $20.00 $476.00 JACQUELINE NELSON HHR}HRHRH}.RH}....*fH►RwHH\RRfARifRRR...HiHRRRYR\RIH\•RRHRRRRRf}!HRR Rf\RR/R\fffwfR►!►R \►w♦►w RR. R•R! State of North Carolina, County of New Hanover The foregoing certificate of AMY R THOMPSON Notary Is certified to be correct. This 26TH of June 2003 REBECCA T. CH4ISTI-I I PWGISTER OF DEEDS By: Of Deeds YELLOW PRORATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE !RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2003039658* 2003039658 gEG 47<- ay iS�P t�qWZ1gg5 1�Ero,p1F BEDS F ,� yq ypviR 3 a3�a FEE Excise Tax Recording time, book and page Parcel Identifier No R03412-005-010-000 and R03412-005-009-000 No ccr4fmcanon or -opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opinion Prepared by W Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L L P P O Drawer 2178 Wilmington, NC 28402 Grantee mailmg address 2501 North College Road, Wilmington, NC 28405 Returned to W Tahna a Jones, 101 S Third Street. Wi Irrungion, NC 28401 STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER WAR&A.NTY DEED KNOW ALL MEN BY THESE PRESENTS that VIRGINIA TRASK HOLLINGSWORTH and husband, STANLEY D HOLLINGSWORTH, "GRANTOR;" in consideration of TEN AND NO/100 ($10.00) DOLLARS and other good and valuable consideration, paid to GRANTOR by NORTHSIDE BAPTIST CHURCH OF WILMINGTON INC, a North Carolina Non -Profit Corporation, "GRANTEE," the receipt of which is hereby acknowledged, by these presents, does give, grant, bargain, sell and convey unto the said GRANTEE, and GRANTEE'S successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows LOT 9• BEGIN 4ING at a point in the Eastern nght-of-way line of Owl's Lane (60 foot nght-of- way), said point being located North 140 42' West 663 38 feet from the intersection of the Eastern ngbt-of-way )me of Owl's Lane with the Northern right-of-way line of Bavarian Lane (SR #1322) said intersection point is located South 77° 23' West 420 28 feet from intersection of Northern right-of-way line of Bavarian Lane (60 foot right-of-way) with the Western right -of. way line of N.0 Highway # 132 (200 foot right-of-way), running thence with Eastern right-of- way line of Owl's Lane as above located North 140 42' West 120 2 feet to a point in said right-of- way; thence North 75° 18' East 124 8 feet to a point, thence South 14° 42' East 120,2 feet to a point, thence South 750 18' West 124 8 feet to the point of beginning Together with a 60 foot right-of-way (Owl's Lane) for ingress and egress to and from said property; the Eastern nght-of way of'said Owl's Lane is located South 77° 23' West 420.28 feet from intersection of Northern right-of-way line of Bavarian Lane (SR # 1322) and the Western right-of-way line ofN C Highway # 132 (200 foot nght-of-way), and sand Eastern Brie of Owl's Lane rims North 14° 42' West beyond the above described lot LOT 10. BEGINNING at a point in the Eastern light -of --way Ime of owl's Lane 00 foot nght-of- way), said point being located North 14° 42' West 783 58 feet from the intersect) an of the EasLem right of way line of Owi's Lane with the Northern right-of-way ime of Bavanart Lane (5R 9 1322) said intersection point is located South 77° 23' West 420 28 feat From said intersection of Northern right-of-way line of Bavanait Lane (60 foot nght-of-way) wait the Western right-of-way line ofN.0 Highway 4132 (200 foot nght-of--way), running thence with Eastcm nght-of-way of Owl's Lane as above located 140 42' West 100.00 feet to a point in said right-of-way; thence North 75° 18' East 154 0 feet to a point, thence South 14° 42' East 100 o feet to a point, thence South 75' 18' West I50 0 feet to the point of BEGWNING, together with a 60 foot right-of-way (Owl's Lane) for ingress and egress to and from said property, the Eastem right -of way of satd Owl's Lane is located South 77° 23' West 420 28 feet from Intersection of Northern right-of-way of Bavarian Lane (5R #1322) and the Western nght-of-way line of N C. Highway # 132 (200 foot right-of-way), and said Eastern line of Owl's Lane runs North 14° 42' West beyond the above described Jot This is the very samc property conveyed to Virginia C. Trask from Alex M- Trask, Sr and wife, Virginia C. Trask by deed dated February 29, 1972 and recorded to Book 930, Pages 646-648 of the New Hanover County Register of Deeds Office TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's successors, and assigns, forever, in fee simple; and the GRANTOR, for themselves, their heirs, successors and assigns, does covenant with the said GRANTEE and said GRANTEE's successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of all persons whomsoever, except for the exceptions herein stated Title to the property is subject to the following exceptions• The provisions of all applicable zoning and land use ordinances, statutes and regulations, current year ad valorem taxes; and all applicable restrictive covenants and utility easements of record The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context IN WITNESS WHEREOF, the GRANTOR has signed this deed this thcq day of June, 2003 rLEY eRTH VIRTRASK H�fST HOLL STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I, a Notary Public in and for the State of North Carolina and County of New Hanover, do hereby certify that VIRGINIA TRASK HOLLINGSWORTH and husband, STANLEY D HOLLINGSWORTH, personally appeared before me this day and acknowledged the due execu- tion of the foregoing instrument, Witness my hand and notarial seal, this '�&day of June, 2003 Notary he My Commission Expires (OFFICIAL SEAL) 7\DeedPaclm8n\Hollmpwonh_NoNuideBWUtChmoh wpd REBECCA T. CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 •►w..•►.....•..►+►....►•w•....•..... era►►.••m►..•►►...v►........ ae.m.... ...•►ua.. rAr..•...►r.•merw...►►.•a...•• Filed For Registration: Book: Document No.: NC REAL ESTATE EXCISE TAX: Recorder: 06/26!2003 03:09:11 PM RE 3857 Page: 336-338 2003039657 DEED 4 PGS $20.00 $476.00 JACQUELINE NELSON ..w.•.•aur►.u..•.e•••.•.••..•.w4r..•...... ...r.►. ... w•..'.••..••..r►•..a•.w•a.•••.r.•r......•w••• r a..• A.. . State of North Carolina, County of New Hanover The foregoing certificate of AMY R THOMPSON Notary Is certified to be correct. This 26Tw .,f i.+ne 2003 YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2003039657* 2003039657 Draftsman: DAVID C. BAREFOOT )�r, ATTORNEY AT LAW Elks Temple Building 1 9 255 North Front Street i 5 2 Z P.O. Drawer 1766 Wilmington, North Carolina TAX PARCEL NOS. R03400-001-013-006 803412-005-011-000 803412.005-012-000 R03412-005-018-000 STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER NOREVE 1111KAMPS WARRANTY DEED THIS DEED, made and entered inm as of the ^ day of October, 1988, by and between JADIE 05MPSEY HOWARD, HENRY WAYN£ PHILLIPS, and MICHAEL GLENN ELLINGTON, TRUSTEES of Northside Baptist Church, (originally known as Murrayville Baptist Mission, which then became Murrayville Baptist Church, which later changed its name to Murray Memorial Baptist Church, prior to its present change of name to Northside Baptist Church) (hereinafter called "Grantors"), parties of the first part; and NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina non-profit corporation (hereinafter called "Grantee"), party of the second part, whose mailing address -is: 2501 North College Road, Wilmington, NC 28405 (whether one or more persons, firms, or corporations). The designation Grantors and Grantee as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. 000izz WITNESSETH: THAT the said Grantors, in consideration of the sum of TEN (510.00) DOLLARS, and other good and valuable Considerations paid to them, receipt of which is hereby acknowledged, have bargained and sold. and by these presents do hereby grant, bargain, sell and convey unto the said Grantee, the following described lands located in Cape Fear Township, New Hanover County. North Carolina, and being more particularly described as follows: BEING all of that certain real property described upon Exhibit A hereto attached and incorporated by reference. TO HAVE AND TO HOLD the above granted and described lands and premises, together with all and singular, the rights, privileges, easements, tenements, duties, obligations and appurtenances thereunto belonging, or in anywise appertaining unto the said Grantee, in fee simple, FOREVER. AND said Grantors covenant with the Grantee that the Grantors are seized in fee simple of the above granted and described premises, and have good right to sell and convey the same in fee simple, that the title is marketable and free and clear of all encumbrances, except as herein set forth, and that said Grantors will WARRANT and DEFEND the title to the same against the lawful claims and demands of any and all persons whomsoever. 56850 2522 0 19 0 IN TESTIMONY WHEREOF, the parties of the first part have hereunto set their hands and seals all the day and year first above written. X99 FEB 16 Pfd 12 19 TRUSTEES, NORTHSIDE BAPTIST CHURCH, an uni orporated church RE74RDED & VERIFIED IAARY SUE OOTS By. {SEAL) R"^.ISTER OF LEEDS JADI DEM WARD, TR EE I: 0','E F, ?0. IIC Gi- 8y: (SEAL) HE W NE PHILL PS, TRUSTEE By: ALi MICHAEL GLENN ELLINGTON, US EE STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER 1, a Notary Public for the aforesaid County and State, hereby certify that JADIE DEMPSEY HOWARD, HENRY WAYNE PHILLIPS AND MICHAEL GLENN ELLINGTON. TRUSTEES OF NORTHSIDE BAPTIST CHURCH, personally appeared before nae this day and acknowledged the due execution of the foregoing instrument for and on behalf of the Church. WITNESS my hand and seal this day of �i t 1998. My Commission E ❑tary Public .G - ,20 URAL Hqr { OTARIAL SEAL STATE OF NORT NA >ar �7r-loant COUNTY OF NEVA FIA O EE The foregoing certificate(s) of-7'YE�,]` a Notary Public, is/are certified to be correct . This is the J(P day of . ECA , 1 99 .. y .:w,.. %d$-&%NWdwd.b.o MARY SUE OOTS Register of Oeeds-New Hanover County BY: Depu EXHIBIT "A" ee0to Deed from g 1 Trustees, Northside Baptist Church 9 to Northside Baptist Church, Inc. Located in Cape Fear Township, New Hanover County, North Carolina and Beginning at a existing Iron pipe in the eastern right of way line of Owls Lane (60 foot public right of way) as it is recorded in Map Book 34 at Page 66 in the Now Hanover County Registry, said existing iron pipe is located North 14 degrees 42 minutes West - 394.38 feet from the point of Intersection of the eastern right of way line of Owls Lana and the northern right of Way line of Bavarian Lane (SR #1322 - 60 foot public right of way). Running thence, from tate said paint of beginning and with the eastern right of way line of Owls Lane, North 14 degrees 42 minutes West - 268,8 feat to an existing iron pipe; thence, North 76 degrees 18 minutes East - 724,80 foot to an existing iron pipe; thence, North 14 degrees 42 minutes West - 120.40 feet to an existing Iron pipe; thence, North 75 degrees 18 minutes East - 25.20 fest to an existing iron pipe; thence, North 14 degrees 42 minutes West - 200.00 feet to an existing iron pipe; thence. North 75 degrees 18 minutes East - 270.40 feet to an existing iron pipe in the western right of way line of NC Highway #132 (200 foot public right of way); thence, with the western right of way line of HC Highway #132, South 14 degrees 42 minutes East • 655.20 feet to an existing iron pipe; thence, South 75 degrees 18 minutes West - 200.00 feet to an existing iron pipe; thence, North 14 degrees 42 minutes West - 6.00 feet to an existing iron pipe; thence, South 75 degrees 18 minutes West - 220,00 feet to the point of beginning; containing 4.67 acres more or less and being those tracts of land recorded in Book 590 at Page 531, Book 847 at Page 256, Book 802 at Page 341, Book 899 at Page 915, Book 950 at Page 646, Book 1096 at Page 68, and Book 1473 at Page 908 in the New Hanover County Registry. a mmEFf■i JFK—E N m7m mimi ■mm—m mmWom7m I ri malr� � maim —mm fmir Mal OW _N_ F ■ r -m- F- -1-' M -n-- i f F -----W-- ., ■-- f f= F- F L --m" —FE MErom W--�Mm—m MM! -Em --m � mi*-000MI f■ f Em— es.�f■= i — ■FNEEZ :�lFiin— — f-Ff�■�_ - i --t i -7 '-iom■-- ■f- - - 1 H f■ f FF F fF ■ 61M BOOK PACE 2810 0072 X"onk couRrr ac 09,251,w J, Met¢. $600.00 2000 SEP 25 AH 10. 24 QLIlIA tx tl h�;•' Reel>a•atc 6ECOrtOt.pJ�•i![3 e'RI� Ii:D A l; 1 ExUsr Tex M11111 11Z11C 1u Y $ P.E600: Ci" r i:ED3 1� 7, Iic 1116 All., n„ Prtp". t 11- —tr ei.:.�. .. ... N r t 6rudti r AID nuaen6OM u t6 IN ,report, itch tne•Aae voters the am M OM If Iw WITIM ase eltaal Ulnen la Excise Tax Recording Time. Boot and Pace Tax Lot No. 201V 400 � � • Parcel Identifier No .............................................. Verified by .................:........... .. ..... ............... County on the .. day of .......................... ....... »............... , �.. by. .... .... ........». .... ................. ....................._...._................. ............... .... »........ .._............, ....,,.«_.... Mailafter recording to ...»............ ..... ........:...._.:...::.......:......... ....... .................. ---- .............. ....... .......................... ......._..._........................................................................r.....::...:...... ..::.., ............... I.......... ........................................................... .......... This instrument was prepared by William 0. J. Lynch, attornex," P.O. brewer 2178, Wilrn. , _NC Brief description for the Index 28402 2.465 ac. pt. of Slack Swaim Tr- NORTH CAROLINA GENERAL WARRANTY DEED THIS DEED made this day of ....„.September 2000 by and between GRANTOR GRANTEE VIRGINIA T. HOLLINGSWORTH and husband, STANLEY D. HOLLINGSWORTH and WILLIAM K. TRASK and wife, FRANKIE C. TRASK 000021 NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC. 2501 N. College Road Wilmington, NC 28405 Enter In appropriate blocs far each party: name, address, and, it appreprisla, character N !betty, e ti ewpomilon m partnership. The designation Grantor and Grantee ss used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. WITNESSETH, that the Grantor, for ■ valuable consideration paid by the Grantee, the receipt of which is hereby acknowledged, has and by these presents does grant, bargain, sell and convey unto the Grantee In fee simple, all that certain lot or parcel of land situated in the City of .............................. . Township, New Hanover County, North Carolina and more particularly described as follows: See Exhibit A attached hereto and made a part hereof. There is reserved to Grantor, Grantor's heirs, successors and asst ns, an indefeasible and perpetual utility easement as described in Sank at Page DIM -of the New Hanover County Registry. ':�jmgdTo N C. ae, A— Fww N6 J 01976. Itniad 0 1977 - a,., rr. • u, �, a,..i,, rrr..r, w e !leas r•—ftoo`—• —kCM4.,e-fgo. BOOK PACE 2810 0073 The property hereinabove described was acquired by Grantor by instrument recorded in ....................................................... A map showing the above described property is recorded In Plat Book . ... .... ... ... page TO I[AVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging to the Grantee In fee simple. And the Grantor covenants with the Grantee, that Grantor Is seized of the premises in fee simple, has the right to convey the name in fee simple, that title is marketable and free and clear of all encumbrances, and that Grantor will warrant and defend the title against Ilse lawful claims of all persona whomsoever except for the exceptions hereinafter stated. Title to the property hereinabove deseribed Is xlsbject to the following exvcptions: The provisions of all applicable zoning and land use ordinances, statutes and regulations; the current year's ad valorem taxes; and all applicable restrictive covenants and utility easements. IN WITNESS WHaltaor, the Greater has hereanle art titl hand and .101. or It Corporate, hes lawdd thl Inrleumf.t to be el/nad )A Lt. ear montr samm y lea dalY aatkrrlsed •fflcrrs and Its 2921 to at heleante elf a by ..-,lty or Its refs of Ph IttN6 111, day .n4 Isar first ekere r.lte.s, ---------- it ..:.. ............ (SEAL) (COrfwrate Name) y VIR A LLING ❑ 0 ------------------------- P2eddenl STANL D. IiOLL SirOR ATTEST: " (SEA W ......................... '� 7iLLIAN TRASK ................ Italy (Corporate semi) u J.61...-._..� :•/rf•-._...•• -.[RBA L) !r KII; C. TRASK S"L•17Ael NORTH CAROLINA, Natal_jianOizer-------------- Cim.ty. . 1, . N.ury Paalle or the clarity and state aforesaid, ce.lify that -VIRGINIA, T•,•_HOLLIN $W¢RTH and husband—STANLEY D. HOLLiNGSWORTII -----. Greater, at_________________.-_____ -_------ ____________--- _----- ..._......... ___.__________._...-_-... apsrsesally mvp,aTed Ispe m6 in, chi, dal and aekn..irdrfd 49 eaeedll.a er Iha (.aem.lnp IA.trml IRI, Wltasas my 1__ day er _-._WA p kaM sad. afnrlal asame u riga. this _.�/] �._} .... ..._____.__.I ' sty C"MI'll.n fuplralc •.,r,`., Q-• Q+' •---...... .. .: ! ( iS- •�{__. ...... N.Iaty Paine SEAL -STAMP STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER C, S2 personally appeared before me,_ y- M. SNgchan _ �, a Notary Public, WILLIAM K. TRASK and wife. r FRANKIE C. TRASK, who acknowledged the due execution of the foregoing instrument for the uses and r a purposes therein expressed. WITNESS my hand and notarial seal, this 6 �/ day of 2000. yy� My commission expires4'•bid -.206fA / r 1• NClary Public The ---_---__ljd0lar.V.Jr_WM_!e!!.......................... 111118r.rllllee mrreeL This ta2tramn ent and Iiia eerplleate aduly rglatered ■1 the date and firs■ end Ib the eoea tad 7216 al.... int the furl as It serer. Marr S 0 11 New Hanover coulrrT .._. ... _. ._._.. .. 1teGIsTIeR or DaEDS rOR_,1.______-.___. _____ ______________ a7_ ...........................atyJ Mats_. �ee4ter el Floods N. C. an Atwr. Forty No ] ®1976. RtrilM O 1977-w.....wnf.,+s. a..In. rw..r r e lase C M Ams - IMI 960K PACE Zaio oozy EXHIBIT A Legal Description far Northside Baptist Church of Wilmington, Inc. from Virginia Hollingsworth and Wi Li2m K. Trask, Sr. Located in Cape Fear Township, New Hanover County, North Carolina and beginning at an existing iron pipe in the wcmem tight of way dime of N.C. Highway No. 132 (200 foot public right of way) which is located Non 14 degrees 42 minutes West - 998.69 feet from the point where the western right of way line of N.C. Highway No, 132 is intersected by the northern night of way line of Bavarian Lase (SR No. 1322, 60 ` public right of way) and also at the nottheast comer of the pmperty conveyed to Northside Baptist Church of Wilmington, Inc. and recorded in Deed Book 2522 at Page 189 in the New Hanover. Running thence, from the said point ofbegiruting and with the northern Line of the Northside Baptist Church of Wilmington, Inc property, South 75 degrees 18. minutes West - 269.56 feet to an existing iron pipe at the northeast comer of Lot No. 12 , Quail Ridge as shown on a unrecorded Wrap of Quail Ridge. thence, with the western line of Quail Ridge, North 14 degrms 42 minutes West - 3 98.3 0 feet (passing through existing iron pipes at 100.00 feet and at 263.30 feet) to an existing iron pipe in the northern bank of a ditch; thence, North 75 degrees 18 minutes East - 269.56 feet to an iron rod set in the western tight of way lire of N.C. Highway No. 132; thence, with the western right of way Sne of N.C. Highway No. 132,South 14 degrees 42 minutes East • 398.30 feet to the point of begfiming, containing 2.465acre mom or kis as computed by the coordinate method and being a part of the properly conveyed to Virginia T. HoIngTworth and ti rdhm 14. Trask, Sr. and recorded in Deed Book 1735 at Page 117 in the New Hanover County Registry. Ai] bearings are in angular relation the Magnetic North (Deed Book 2522 at Page 189) and ail distances are horizoma] Sell measurements. The above descn'bed property is subject to 30 foot wide utility easement which is north of and parallel to the southern tine of the above descnbed property and extends from the western right of way Line of N.C. Highway No. 132 to the eastern line ofQrail Ridge, which easement is more particularly described in the inatr+meat recorded eiwultaaeausly with and mediately following WE; deed, in EookZOW at page 00L of the Wev Hanmret Cmmty Registry- T, egistry- A RF. I I• -i DIN 1 ■ 1!!!:e �r ■--. ■1■ --m t� mommommi mommi �� + --E-ffi�1 It 1 ■■FF7 -J --1 t-1;pMEN i mmmmmmm:� mom mom ■�--F■ ■ 1 ■ Emom- - - - mom F- ■ t - 1 -- ~ HI 11 = 1 - ■■ i—F11111111-■� m III J F -1 ■ NIS - - ■ i NIS f — — i i i A -!-- - qt=- ■ mom- Nip m - m 1yF—: mom(F - mim--mm ` mli.—■ H _ 0 JIM- E—IfF ;J*- H J • _ , - - ■ ■ r INA - H ■ i f _11111 - H ■ ■ - ■ y H ■ - t - ■ 1 rl Hom ii :imm mm M ■ mom.mmomm FF ■ 1 m - - F NINE - r - -_ • - • -1 y —ANNIE ■ EMm ■ mom H■ - 1 F H W mommi - i f ■ -IF J 11— — H- - 7--t- F 1 -9 r E - ■ •=--m TF_ I F f -imp ■ r !m mommommi . H. --mmm mom J f■ ■ -mml4r� - ir—momi-11 — - - - � N H mim--mom - • - ME I ;P" =11-- =11-- 0moi0■1�1 -MIF--- -NIS NIS __M _�IllF■ 1 --+ _ + ■ _;P -i ■- I jjr7 — NIS — - F ■ - H- -- 1M�-IN- 1 - ■1 M--F-llE -1 --- I— Fes■ -MF ■ ` Fmmmm ■ - i 1 i - - iF — NIS 1 F --- � r - ti - ■- ■ � - 1 � 1 - F _ 1 - ■ F 1 1 - 0"1 • ' _ 0 1 N 7 FOR RESISTRRTEON REGIsrER of DEEDS NEb1NNZIEERCCAEASL E Y 2W DEC 2103 438 f0 Pcm 8K 5699 PC 9$-103 FEE $26 00 NC REV ST" $f,264 00 INUR101 # 2K44 R NORTH CAROLINA GENERAL WARRANTY DEED Excise Tax $ 1,200 00 Parcel Identifier No Portion of R03400-001-013-005 Verified by New Hanover County on the _ day of December, 2012 By Mail/Box to jret LFrw This instrument was prepared WITHOUT TITLE EXAMINATION by Lee Law Firm, PLLC Brief description for the Index Tract 127 acres THIS DEED is made this day of December, 2012, by and between GRANTOR GRANTEE NORTHSIDE BAPTIST CHURCH OF MCDONALD'S REAL ESTATE COMPANY, WILMINGTON, INC. a Delaware Corporation a North Carolina non-profit corporation One McDonald's Plaza 2501 N. College Road Oak Brook, IL 60523 Wilmington, NC 28405 The designations Grantor and Grantee as used herein shall include the parties, and their successors and assigns WITNESSETH Grantor, for valuable consideration paid by Grantee, the receipt of which is hereby acknowledged, has and by these presents does grant, bargain, sell and convey unto Grantee in fee simple al l those certain lots or parcels of land situated in New Hanover County, North Carolina and more particularly described as follows See Attached Exhibit "A" Legal Description All ora portion of the property herein conveyed( ) includes or( X ) does not include the primary residence of Grantor TO HAVE AND TO HOLD the above described property and all privileges and appurtenances thereto belonging to Grantee in fee simple And Grantor covenants with Grantee, that Grantor is seized ofthe premises in fee simple, has the right to convey the same in fee simple, that title is marketable and free and clear of all encumbrances, and that Grantor will warrant and defend the title against the lawful claims of all persons whomsoever except for the exceptions stated, if any See Attached Exhibit "B" Permitted Exceptions [SIGNATURE APPEARS ON FOLLOWING PAGE] IN WITNESS WHEREOF, Grantor has duly executed the foregoing as of the day and year first above written NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC 13y.. - 1496.e y- ��,01 _ Clement E Goodson, President STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I certify that the following person personally appeared before me this day, acknowledging to me that he voluntarily signed the foregoing document for the purpose stated therein and in the capacity indicated. Clement E Goodson Robbie B Parker Notary Public Brunswick Couniy North catollno My Commisslon Expires 1012612()13 Seal) 17Kk-�yo.-- Notary Public Official Signature Print or Type Name ULIi 6. Pwk My Commission Expires- 10124JU13 EXHIBIT A Leeai Description ALL THAT PORTION OFA PIECE OR PARCEL OF LAND LYING AND BEING SITUATED IN THE CITY OF WILMINGTON, COUNTY OF NEW HANOVER AND STATE OF NORTH CAROLINA AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS BEGINNING AT AN EXISITING REBAR ON THE WESTERN MARGIN OF N,C HIGHWAY 132, A K.A. NORTH COLLEGEROAD, A 200'PUSLIC RIGHT OF WAY, AT THE NORTHEAST CORNER OF A PARCEL NOW OR FORMERLY GOWNED BY NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., KNOWN ASA PORTION OF TRACT 'A' RECORDED IN DEED BOOK 2810, PAGE 72, NEW HANOVER COUNTY REGISTRY, SAID POINT ALSO BEING THE SOUTHEAST CORNER OFA PARCEL NOW OR FORMERLY OWNED BY TRASK FARMS OF NEW HANOVER, LLC, RECORDED IN DEED BOOK 5397, PAGE 82, NEW HANOVER COUNTY REGISTRY, AND SAID POINT ALSO BEING N 18022'50" W398 45 FEET FROM THE SOUTHWEAST CORNER OF SAID BOOK 2810, PAGE 72, THENCE, LEAVING SAID TRASK AND WITH SAID MARGIN OF RIGHT OF WAYS 18°22'50"E 205 83 FEET TOA NEW POINT, THENCE, LEAVING SAID MARGIN OF RIGHT OF WAYAND WITH SAID NORTHSIDE BAPTIST CHURCH S 71037110"W269 56 FEET TO A NEW POINT ON THE WESTERN LINE OF SAID BOOK 2810, PAGE 72 AND THE NOW OR FORMERLYEASTERN LINE OF SAID NORTHSIDE BAPTIST CHURCH, THENCE WITH SAID LINE N 18°22'50" W 205 83 FEET TO A POINT, SAID POINT BEING THE NORTHWEST CORNER OF SAID BOOK 2810, PAGE 72, AND THE NORTHEAST CORNER OF SAID NORTHSIDE BAPTIST CHURCH, AND ALSO A COMMON POINT ON THE SOUTH LINE OF PREVIOUSLY SAID TRASK, THENCE, LEAVING SAID NORTHSIDE AND WITH SAID TRASK N 7103 7'101, E 269 56 FEET TO THE POINT AND PLACE OF BEGINNING CONTAINING 127 ACRES, MORE OR LESS BEING A PORTION OF THE PIECE OR PARCEL OF THE SAME PROPERTY AS DESCRIBED IN DEED BOOK 2810, PAGE 72 OF THE NEW HANOVER COUNTY REGISTRY EXHIBIT B Permitted Encumbrances 1. Taxes or assessments for the year 2013, and subsequent years, not yet due or payable. 2. Any right, easement, setback, interest, claim, encroachment, encumbrance, violation, variation, or other adverse circumstance affecting the Title regarding the following matters disclosed by survey entitled "McDonald's" by Lawrence F. Lee, P.L.S., Commercial Site Design, dated April 30, 2012, last revised June 5, 2012: a) service utilities; b) 10' and 30' CPL easements (DB 5228 Pg 836), c) 10' and 30' drainage and utility easements (MB 52, Pg 173); d) portion of property located within special flood hazard zone AE; e) TBM fire hydrant; f) building setback line(s), g) landscape setback line(s); i) encroachment of underground gas line passing through the southern side of proposed lot in an east -west direction by approximately 65' without the benefilt of an easement. 3. Any right, easement, setback, interest, claim, encroachment, encumbrance, violation, variation, or other adverse circumstance affecting the Title disclosed by plat(s) recorded in MAP BOOK 46, PAGE 286, MAP BOOK 51, PAGE 173, and MAP BOOK 54, PAGE 387 and MAP BOOK 57, PAGE 155, NEW HANOVER COUNTY REGISTRY. 4 Easement(s) to CAROLINA POWER & LIGHT COMPANY D/B/A PROGRESS ENERGY CAROLINAS, INC recorded in Book 5228, Page 836. 5 Rights of others in and to the continuous and uninterrupted flow of the waters bounding or crossing the Land and riparian and/or littoral rights incident to the Land. 6. Easement(s) to CAROLINA POWER & LIGHT COMPANY recorded in Book 801, Page 570 4�}NTY.AV < p w 0 ��StlP TAMMY THEUSCH BEASLEY REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 fkf#i!i##likfli**k#kkRf*RRRffff**!*f*l/f i*k*RR**A*64A!lRRf•ir/irR**#RRiIR#x**AR*R**x!x*k*•ffi!*f#i*!!!Rlkiklf!#�# Filed For Registration: 12121/2012 03:06:10 PM Book: RE 5699 Page, 98-103 Document No.: 2012044650 6 PGS $26.00 NC REAL ESTATE EXCISE TAX: $1,20000 Recorder- CRESWELL, ANDREA State of North Carolina, County of New Hanover PLEASE RETAIN YELLOW TRAILER PAGE WITH ORIGINAL DOCUMENT. *2012044650* 2012044650 I" �v xaeaaaasss "17 REG15Ti7AT1pk if EO [S TER OF AEWF, AEaECWt P 5rliTH MANOVER rouniiY N 2 C 4E� 45 49;42:�v4 PA B iIV 41770-2777 FEE:J32.06 1%119T # Ms NORTH CAROLINA DEED OF TRUST AND SECURITY AGREEMENT (Collateral Includes Fixtures) SATISFACTION: The debt secured by this Deed of Trust, as evidenced by the note or other document secured thereby, has been satisfied in full. This the day of f Signed: Mail after recording to: This instrument was prepared by: J- IZtTa4tr -T0 Wphh R Qraupn f PT.T.r Book and Brief description for index: F. Tracts A,B,C,D,E,F,G,H. Part of J, Man Book 46, Page 286 THIS DEED OF TRUST AND SECURITY AGREEMENT ("Deed of Trust") is made as of this day of.DecetrtQAr, 7Df1fi , by and among: TRUSTEE BB&T Collateral Service Corporation 14th GRANTOR (Include Address) NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC. 2501 N COLLEGE RD WILMINGTON, NC 28405-0000 4567 MAIN ST SHALLOTTE, NC 284704447 BENEFICIARY BRANCH BANKING AND TRUST COMPANY,a North Carolina banking corporation 4567 MAIL: ST SHALLOTTE, NC 28470.4447 X❑ IF BOX CHECKED, TH15 DEED OF TRUST SECURES AN OBLIGATION INCURRED FOR THE CONSTRUCTION OF AN IMPROVEMENT ON LAND, THE FOLLOWING INFORMATION APPLIES TO THIS DEED OF TRUST; 1. The maximum principal amount of the Debt (defined below), including present and future advances, secured by this Deed of Trust is NINE MILLION TWO HUNDRED THOUSAND DOLLARS & 00/100 (5 9,200,000 -OD ) Dollars. 2. The Debt, on the date hereof, is evidenced by a Note or other Document described by name, parties, dollar amount and date as follows: (i) that Promissory Note dated • December 14, 200fi 2006 in the amount of S 9,200,0D0.00 executed by NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC. (the "Borrower" if not the Grantor) and may be evidenced by and shall be at all times deemed to include any other Note or other Document now or hereafter evidencing any debt whatsoever incurred by Grantor and/or Borrower and payable to Beneficiary, the terms of which are incorporated herein by reference; and (ii) all indebtedness and obligations of the Grantor or Borrower to Beneficiary (or an affiliate of Beneficiary) under any interest rate swap transactions, interest rate cap and/or floor transactions, interest rate collar transactions, swap agreements (as defined in 11 U.S.C. 5 101) or other similar transactions or agreements, including without limitation any ISDA Master Agreement executed by the Grantor or Borrower and all Schedules and Confirmations entered into in connection therewith, hereinafter collectively referred to as a "Hedge Agreement", the terms of which are incorporated herein by reference, 1764MC i0e041 P.P 1 u1 e I A 3. Pursuant to the provisions of Sections 45.67 et seq., of the North Carolina General Statutes, this Deed of Trust secures the payment of the Debt, including present and Future advances, 4. The current principal amount of the Debt advanced on the date hereof (including any outstanding amounts advanced previously) by Beneficiary is S Mone (if none, so state). 5, No. exeeu[ion of a written instrument or notation shall be necessary to evidence or scrure any future advances made hereunder. The period within which future advances are to be made shall be the Fifteen year period begfnning on the date of this Deed ot-Trust. d. The real pproppeertttyy which is the subject of chis Deed of Trust is located in or near the City of WILMINGTON , in the Township of m t e ounty o , in the tate o ort aro ins, and the legal dtacript on and the chpin of title re emnce of the real property am set arth as follows: SEE ATTCHED EXHIBIT A STATEMENT OF PURPOSE: In this Deed of Trust reference shall be made simply to the "Note or other Document", and such a reference is deemed to apply to all of the instrumms which evidence or describe the Debt, or whicb secure its payment, and to all renewals, extensions and modifications thereof, whether heretofore or hereafter executed, and includes without lirrti[afioa all writings described generally and specifically on the first page of this Deed of Trust in numbered paragraph 2 above, This Deed of Trust shall secure the performance of all obligations of Grantor and of Borrower to Beneficiary which are described in this Deed of Trust, in the Note or other Document, and such performance includes the payment of the Debt. In this Deed of Trust the definition of "Debt" includes: (i) the principal; (ii) all accrued interest including possible fluctuations of the interest rate if so provided in the Note or other Document; (iii) all renewals, extensions and modifications of any obligation under the Note or other Document (even if such renewals or extensions are evidenced by new notes or other documents); (iv) all indebtedness and obligations under a Hedge Agreement; (v) W other obligations of Grantor to Beneficiary which are described in this Deed of Trust, or in the Note or other Documeat (for example, payment of the attorneys fees of the Beneficiary, insurance premiums,ad valorem taxes, environmental reports and appraisals): and (vi) all future advances to Grantor or Borrower, whether direct or indirect, including without Limitation any advances to pay drawings on any irrevocable standby or commercial letter of credit issued on the account of Grantor or Borrower pursuant to an application therefor. NOW, THEREFORF, for the purposes and under the conditions described in this Deed of Trust and in consideration of the Debt and the mutual promises of Grantor and Beneficiary, Grantor hereby conveys to Trustee, in trust, with power of sale, the real property described in this Deed of Trust, together with any improvements, equipment and fixtures existing or hereafter placed on or attached to this real property, all proceeds thereof and all other appurtenant rights and privileges. The term "the Property" shall include this real property, any such improvements, fixtures, and also all appurtenant rights and privdc&m. TO HAVE AND TO HOLD the Property, to Trustee, its successors and assigns, but upon the trust, and under the terms and conditions of this Deed of Trust, to which Grantor, Trustee and Beneficiary hereby agree: 1. PERFORMANCE BY GRANTOR. Grantor shall fulfill all of Grantor's obligations set forth in this Deed of Trust and the Note or other Document. 2. TAXES, DEEDS OF TRUST, OTHER ENCUMBRANCES. Grantor shall make timely payment of all ad valorem taxes, assessments or other charges or encumbrances which may constitute a lien upon the Property. Grantor shall timely pay and perform any obligation, covenant or warranty contained in any other deed of trust or writing (herein Other Deed of Trust) which gives rise to any or which may constitute a lien upon any of the Property. Grantor shall upon request of Beneficiary promptly furnish satisfactory evidence of such paymcat or performance. Grantor shall not enter into, terminate, cancel or amend any lease affecting the Property or any part thereof without the prior writtcn consent of Beneficiary. Grantor shall timely pay and perform all terms of any lease or sublease of the Property or any part thereof. 3. INSURANCE. Grantor shall keep insured all improvements which are now existing and which might hereafter become part of the Property, against loss by fire and other hazards, casualties and contingencies in such amounts and for such periods as may be required from time to time by Beneficiary; and Grantor shall pay promptly, when due, any premiums on the insurance. All insurance shalt be carried with wrnpanies approved by Beneficiary, and Grantor shall cause all policies and renewals thereof to be delivered to Beneficiary; and the policies shall contain loss payable clauses in favor of and in form acceptable to Beneficiary. In the even[ of loss, Grantor shall give immodiare notice to Beneficiary, and Beneficiary may [Hake proof of loss if such is not made promptly by Grantor. Any insurer is hereby expressly authorized and directed to make payment for the loss directly and solely to Beneficiary. Further, Beneficiary may apply the insurance proceeds, or any part thereof, in its sole discretion and at its option, either to the reduction of the Debt or to the restoration or repair of any portion of the Property damaged. 4. ESCROW DEPOSITS. Upon dernand of Beneficiary, Grantor shall deposit with or add to each payment required under the Now or other Document the amount estimated by Beneficiary to be sufficient to enable Beneficiary to pay as they become due all taxes, charges, assessments, and insurance premiums which Grantor is required to pay. Further, any deficiency occasioned by an insufficiency of such additional payments shall be deposited by Grantor with Bencficniry upon demand. 1764NC ioeoai Paan 2 m 6 5. PRESERVATION AND �+tAINTENAj+ICE OF THE PROPERTY, Grantor shall kce the Proper[ in as good order and repair as it now is (reasana te, wear $ne tear c= ttdj and shall neither maut 1% T. permii any waste or any ,other cecurneuce or use winch might impair Ile value of i Property. Grantor shaiirnot initiate or acquiesce_in a change ul the zo= classiiiea(ion of the Praperty or make or perrrdt any structusai alteratiion thereof without Beneficiary's prior written Co L 6. COMPLIANCE WITH LAWS. Gr to shall re¢ulazly and pror[3pa comply with any applic2,le legal, requirements of the Ugited [ the State of North Caroi�na or of er govemtnbntal en ny, a ency or instrument ity relisting to the use or condition v [he >iroperty. 7. CONDEMN TION AWARD. Any award for the taking of, or damages to all or any p of the Pra rt or any irtter�hsc therein upon the lawful exercise of the power of eminent domain shall be payable solely to Beneficiary, ic�t may appiiy sums so received to payment of the Debt. 8. PAYMENTS BY BENEFICIARY, If Grantor or Borrower shall be in default in the timely payment or per€❑ratance of any, of Grantor's or Borrower's obli ations, the Note or other Docup1pat, under this Dead of Trust ar Other= of Trust, Beneficiary may,, but t'I is pat obi Mod to expend for the account of Grantor anv suras, ex eases and fees which $eneficiary believes app ropriate for znc protc tion of the Property and the maintenance and WC11 is�n of this trust. Any amounts so ex pendgd shall be dee princ ipal advan full see urjd b this Decd f Trust, shall bear interest from the III= expended until paid at the rate o interest accruing on t c Deybt, an sha�I be due an� payable on dematn , AND PROFITS, Grantor hereby mins to Bengiiciary all future rents, and profits from the Prope as eudty for the a merit of the Debt an min the perrtformaace of all obligations secured by this D'd of l ivat. b a paints I3nc�Ficiarl as Grantor's atiornc-in•fact to collect any rents and praFt w}tIt or without suit, and sayrr[ep'fes, gxpenses of cuileCison, to the Aebtyar to tiny obiigattons secured try this Recd uF Trust in any manner may des re, Sueh a poin[rnem of Beneficiary shall be a pawlC cvu led orifi an in[crest and s ail remain in rycffeet as ons as an rtion 4f the T)ebt remains outstanding• rises cr, until deFautt tinder rhe ate or other under this [7eed oT 1 rust, Grantor may eontlnue to collect and retain the rents sad grunts without any y to Bene %ciazy Oenefiisary 's election to p true t}le call tion of the rents or rofs[s shall tie in addition ro aIl )es which Bene>ietttry msghC have and mays put Into effect independea[iy oar concurrcat3y orifi any other 10. SECURITY Trtist shall deemed to ed�a beta theSecurity agree e[ Khichv, 9A the fures; and equimitt ecr�d ere th$A es a securityale es 6ua�l to x arcs oraz thin-14C111 s Onafd of Bene es I� that ro and, Grantor pants to Beneficiary all of [he rs his and Lemedies of a securccpartyS it the f ossh Carotini}-flD, itom3 ConSmercial Code. Grantor aRRrets to wtecute and deliver to Beneficiary concumntiy wttn the execution of ,his romt[[na to time hereafter, ail f�nanciflR statements and other dovumhtangasrernatns unpaid) [stakes constitutes and appoints T3eneficiary as the rose and lawful attorney of Borrower to a the name of Granttor on >tny flnanCtng [linen[, contsnuati❑n of fin itsg statement or similar document re aired to per�cct or catltspuc such unity interests. however ta,the extent allgwedy Faw, Skis Deed of Truss shalt be a:nancing s[aternent sufficient to pert sod mern[atn any security interest created hereby in the ropeny and its Proceeds. I I.GIRANTOR'S CO1s1jTiNUiNG QBLIQATION This �ieecl of Trust ball retrain as securs'ty for full ew of theDebt and ter performance o any obligation evidenced by the rvare or other Document, nolwilbst ding any bf[ha, allowin : (a} the sale or release of all or any grt of the Proeerty; (b) ]he assumption by another Earty of Grantor's obli atsot�s under this Deed of Trost the No;c ar v er Document, (c the (forbearance or extension ❑ time for payment o the ON or tar Performance of any obligations under this Deed of Trust, the Note or other Document, whether granted to Grantor or to a su uent owner of the Pra rt of (d the release of any pert who has assumed pa mens of The Debt or who assutried anV 9qthef [shit auan,t antler tf s Iyeed of Trust, the Note or otherYDpcumear i5fpne of ih loin clog shall +n anY,way, sftffccet the full {orae Ind 111 U of the hen of this Deed of 'frust or impair Beneficiary s right to a de Icicncy jud men[ sn rbcaevent of ftsreclosure agai f of or any party woo lTd assumed payrnent of the l7cbt yr who assumed any y r abliga[ions the performance of whic is secured by this urea a nus[. 2.SL'BSTITUfON OF TfRUSTEE. 8c cftciarhall have the unqualified r'sgils to remove the irTrdividual designated as rustle an the trot page 0t'3 Dced 4f gust w �ppvm or mores 6 orate or suetscssor rustles b instruments led for regsstra ion stl thr County Re sstry where this [Teed a� st is recon ed� Any such rerrtovai or sgpwn men[ may be rrat y tiandavaiAn , stealrred up n tric s tviduai origy were [named herein as the original Yf rustre. 13. INDEMNIFICATION IN' EVENT OF ADVERSE CLAIMS. In Fite even[ that Beneficia pr Trustee voluntarily or atliem.ise sh�tl become parties Iv I;%suit or IFgal prroccedin invoivin�g the f'ro en , they shatlf e sav harmless end shall be rc+mbursrd y Grantor for any ounts patq, inc. A costs, ctTar ds an� at�omey s fees mcurr In any such suit or proceeding, and the same shall bC secured by this Det d afgftvst and payali a upon demand. 14. INSPECTION. Beneficiary�riay at gay re nable time and from time to time, mpke or cause to be made reasonable entries upon, invest[ ations, and 1juspviceons of the Property, tncludinf without Ijrrutattort agy inspections 4r investigations such as sampling attAesting which relay be necessary or desirable to reV"sew compliance oral[ Eaviroantental Lsws. IS. WARRANTIES. Grantor covenants with Trustee and Beneficiary that Gr r is of the Pro rt to fee simple. has the ngy�[ to convey the same m fee simple, etniile ro the Prot�e�ty is markc[e and fraud clear o all ettyumbrances, and that ranter will warrant and defend the l[tle against the lawful elaitsts ort i persons -whomsoever, suis�yycccct only to any declgra[}ons, easements, restrictions or encumbrances fisted in [he title oppinion ar title tnsurancc polity w7lteh Beneficiary obtained in the transaction in which Beneficiary obtained this Deed of Truss. 16. ATTORNEYS' FEES. In the event that Grantor or Borrower shall default in its abligations under this Deed of Trust the Note r ate Document, and Se ttoiary em la s an at me to assist to t e co ection of [ht I]eht or to enforce cam lance o ran wnIt y of the,pp- visigasyvf this D�edyaf Truss, the ate or other I?ocumenrs or n the event Begtciary yr Trustee shamug ome ostitis [v any Butt or legal propeeding {including any pracecding conduetec before an9 VptIedg Fes Bankruptcy ) cancernm Ilse ProAerty, eantxmtng�d- lila of toss Deed of3t, cons esrtin callecon of the Des or concerning tpli ee Ity ran ith any of the lanaa thhod 0 ,ite Na orv erDvcurnettt, Gran[ar shall pay Bene eciary'lcat[omrys s of the cthat [nay rnurred, such Feesdcostssksch besecuby this ced o Trustanditspay it atpfaas if it were a part of the Deht. Grazttor shall he liable far such attorneys' fees an casts w ether or not any suit or proceeding is commenced. 17, ANTJ-MARSHAt,LLING PROVISIONS. Trustee and Beneficiary may grant releases at any time and from[ time to time of III or any portion o the Property whether or not such releases are required try agr n=t among the pames} agreeabl _ to Trustee,aniS Beneficiary wit Out notice to or the consent, approval or a reernent of oilier arties and interests. inclu IT junior lienors and purchasers subject t�s�fse lien of this need of Truss, an§ such TeAes shat not impaivn any manner the validity of or priority of this Deed o nus[ an That pa� iaR of the apperty remaininrt su lee [o this eecj of Trust, oar I Grantor troin ppersonal liabiiisy far the Debt. AiatwtthstandinIt the existence apt any over security interests to the Pro riy held by I3eneTici or by any �hreparty, Beneficiary shall ilayetheht to de[erenine th order in which an ar n shallubyccfed to e reinedv lie [efic$tnefictary shall rtherhave the right to yrtrder h ally ar all rtians of the l eht are satisfied from the proceeds realiacd upon ate exercige of aay ss baa. Grantor, oranyconsenis to this or any parry olio has actual or constructive notice em , ht7cby waives arip and all rights [o rg c marshalling of assets to canntxuon with the exercise of any o the Termrxedditcs pt mttits d by appiicabSe law or pr vtdederem. 1764NC 10604) Page 3 0 6 ENVIRONMENTAL ISSUES. Grantor For itself, its successors at ran[❑r nor any Other person has used or installed any Hazardous Mai Py notice from any governmental entity or other,g�rson with roperty: (b) ne'then Grantor ar an�er person has violated any, relating to or WOW the Property; (c) the Property are pmently if Cgtrcunistanou present YYY existing upon or under �lte Property, or reli Pnvirotunerttal Laws, and there is not now pending, Ar threat cd any relating lc rhe Properiy or agartist any other party relating to the Ara�p� the Egrvironmentaall Laws; (dj the Property shaft be kept free_pf Ri to a enc , Coil , of any other party with fegaril t¢ Hazardous Matetia4s on, from or affecting the Pr mp ete all invesh ations, s lin , arfd togttm�q and i rernedial, removal, ano other action; remove all Haxardot s Materials n From or affec I them erty in accordance with all a❑plicab Grantor hereby rev's to, inder»nif' the Qenefici and hols the g ef[ciary hatpiless frim d Iiabilsaes, dasYi as es us}ustca (tnelu ing,,ws out #u.t[suon, atrosneys' fees) and clatries of any an U or suf red by, or asae against. fCtctnry for, wi respect to, qqr as a ircei or indir on, or and or the Hca sptllaRc,err�ison or rerrease from th Prop�rtof an Hazardous Matt not causedy or within the c Trol of fan r. (b) t viggEattdn of any gq im tai Laws Pr fly, whether or A prausy ar tvitn rhe contra} of tnantor. (c) the failure by Grantor to sn Xrovts#ops of this a graph, or (d) arty warranty or rept Cation riiade by Cdrantar in tilts pat in arty matenal re;�ect. f or purposes of this Deed o Trust, . ar rdou�55 l arcrlal means an meta fiatrunable explosr es, radioactive materials, asbestos or any material containing asbestos, ands dangerous wasje, sub5tanee or material defined as such in (or for the purpose oft e Fnvironmenu and artes that (a) nein n the mpesty r mcen on, Som pr acting 's (as hCreln ter d8t-usi neentalp ws; there= =racead)agagainy sCical ht or remey ,lder arny gbe used to genera en rause nor Venni 1 to clean up and [ental Law . The p and all �osses, Whatsoever pard, (a) the pr� nee ar of ffwe�htelherthr y wtlh [he errrts g false or untrue 1m roducts, any as d us, toxic 11 of Lh n aI d' , ry l jen- law, or any 00tr federal, state, or local law, re ulation qqr decree regulati.st� relating1a ort it 'liab uy or or ds a[ coa�uct conoetrtutg an elm cum raducts an flatnrriaale ex los[ves, ra8inactive material asb�sias or all matertai containm�asbes[os, andlai hhza ous, xic or donggI'MU waste, su4§tanCe or malerisl, as [nay now Or at anyy time hbreafier be in effect. �t qb]s�µtions and ffiabil'Ifes of cantor Lndgr thispa Rraph shall survive. the foreclosure of the I]eed of Trust, Je delivery of deed -in lieu of farx�asure, ge cancellation of he a c; or if otherwise expressly permitted in writing by the Bank, the sale or alienation of any part of the Property. 19. EVENTS OFF DEFAULT. sGirrantoorrtsshtall be in vdefault under this Deed of Trust upon the occurrence of any of the following; ( 0[e iuosliert co�ulYne[iifor [p ana oIIi M pqfien4f ra°t o1�3etirt. of any v 1ea fic -or non this Deed t rtweenTLYraiianana scary; or in any contract tu�ec n any Ihsrd pasty and �ene [awry a for t c st Oyer ntor; or (b) An� warroy ze�resentation or stareoieat free err futltished ta 13gr�eficitu� b or vn 6ehadlf at Qirantor or Borrower in cone tion wit this ransacuon proving [a clave en alse in any mater respe t ween made or utnfs ed or (e} loos$, ,[heft, subs[ shin( �$ma e, delructiotl to s r of tht Projierry, or the assertion or making of any levy, seizure, mee ante a or mater[ marts len r attiac1�menctt }crrseoo or thereon; Cars po tttsat f (dn)Iaert of tassiuniittnitfar t�eieefit of crt❑iiars blv orythe ins$t1F ot�ay c�etits in [stet ord]n cati se orfilYsi�ie s ofe r to or Bono er or any co- or, endorser, guamtor or surety etc r; or (e Failuurtk f cod rpmole Grantor, Borrower or co -maker, endorser, guarantor or surety for Grantor to maintain its corporate g g: or (fht(iSsuanrhet oat[ wntyot neisntr[ep[$oraliacirnenlspstt of tinctg[ oft�y tax�ien agauiat Gtt�r or Soawer; or u�on y Earn g y p p rty o ebis ue or rights ai Grantor or orrower; o ( The sale (includin sale b and oonlrae! u�on deliVry of pogession). tra of or encumbrance of all or t ert of the pen or y theyrg n, .or an c 4e tote owners [p or ntro o any corporate or partners t rancor or tt %r, R6u['We f icIe&'s prior written eahsent; ar (1 if f aeticiiv shnujd ptheryvise deem itself, #is security inige,sts,�se Pm ere , or the pebt unsafe or insecure; or should ere tctttry O rwtse lseve at the prosect! o payment or at er pe Orman e i impaire 24. 1>:EMVCp1E5 OF BENEnciRY UPON DPWST. Upon the oceurrelsce of any event oqf ¢ertl1, Beneficiary map, at its opption, .wi out prior notice to Grantor, declare ebt to be immediat y due and pa a¢le to fia11; and, on appl#ehtsvn a crteftciary. Trustee shall fpreclose this Deed of Trost in Any er p�rmttted yy No arolina 1 w, includ#pg sellm�ttie rmperty or arty part t�tereot at public sale w the Ipst I htghest�er for cash Erre of soy equity o�redartption, home ad, dower, can y or atner Slate or federal a Goa, 1 0l which are ex ressi waiva3 by Grantor, after eqm fiance whit 'Filapplicable tomb Carolina laws ref atrlli! m >ore ilasnre es der wer Off sale; and Trustee shall execu(e asitt elves to the 9�rcha�cr a rustee's dee conveying 15F Property sa s6 wi jput. qty covenant or w ty, Nxpged or implt '71ie rect[als e "lnastee's deed shad be pprima facet evidence aF a [runt of the statcmetus tns�cretn. "[he proceeds of asst' such sale Shall. be applied t' the manner And iq the order preset# by plicable Ngrih Cuolitta Saw, it cirW recd th t the expenKs of any such sale shall include a Commission of rfv0 per cunt of the ytross sale rsm to Trustee for lSlo In . sec sale and for a1i services performed by him hereunder excluding ixpenses intact in mak ji sale, In the event a foreclosure snit or special �roceeding is commenced, and no sale igg� he,d, then tete Grants 518!1 payy to [be Trustee; i alt experise$ ineurr b Trustee and ) a partial commis inn rnmppused on Hv �er cent of tine ba�ante dF the unpaid Deht. eretfteiary [nay pi an becoV the Purchaser at any sa a under jjtss Deed Of Trust. At any such sale Trustee may at his election require the success }fisIT tdder [rrunediatcly to depo 'r wide ``yusteeashfi at< amount equal to ski aft an par�of she slr0cessful hid, and notice ofI any such requtiroment need noise included 's�s r vertssctnent of t e not'tcc n sue safe. erici rna re� µest the ointment of a ecerve( for the Freperty and Iht C;rantor htreby cooserns the��eet❑. if Foreclosure pracetdm s grey instituted un�r this Deed of LR at , gccmed or to accrue: or Trustee eascd ❑ d the g relain ,€ter ent ofthe order of the couprptfor a bene& orf�Berie iciary,ing, final d#spasiti❑n of the oreclosurc pro Ingsand urn an MOO allaowed b o1 t' tsleraale ai thr Pmpeddnits shy orocfosure salt or[]rrtxl iq such p idtsrees; and rust act [rtesI. ad0qu�y or #nadeyuacy to secure or discharge the intirhtedness then Owen$. 2l. RELEASE AND CANCELLATION. U n fulfilirncnt of all of ahfigatians, the per ormatsce of which is reared !?y this Deed of Trust, d n pa pt of tfic De i�t, this Iced pf Frust std the Note or other bocttmen[ shall be anar.1ed "Satisfied" aao renamed [a rano or arta conveyance shall be nulS and void and may be cancelled of record at the request and cost of ranior, and title to the property shall revest as provided by law. 22, M15C1rLLANEOUS. The captions � headin s of the para"r�s o this Deed pf Trust are for jogvenience only and shall not be urea to i terpret or define any provisit s. l rcnsedies prodded herein are distinct and cumulative to any other rif�ht or remedy, uunttder ss Deed of Trust qr afford b law 0r etlu and ma be exer�{ Cgneurrently and en�cnell ❑r successively. f+<ll,covcaains contain herein �al� Mind, apd the�cneFirs arldyadvanta�es shalt mare ta, tine rens CtLvs heirs, executors, mirsistr'ptors, successors or assigns Q the parties to thls Diad of Trust, an the designations "Grant fruslee and Bene rci ineluda the �atltes, their hejrs 11tPr�, administrators, suvrgssorS r ass's tu. The dasi¢aauons o rate . " orparaa��ion" and partnership Tc ucd OU0�d liabilit o0 atties and limit li Siiit anile shi s. whenever used the sin jar atirribe sits]] include the plural and t e plural the singular, and the use ❑1 a gerid steals �epa�i�ii0abie to ail endt:ra. lits eif?rust sh 1 br governod'�� d co t�rruued under Nprih Carolina aw, Rn fonc�aranct h 8tne(�ei in tx,xrLt9I? syy tt age remedy ereur3Qer.p r otherwise a ❑rdcd by applicahlekaw, sten l rat bey, waiver of ❑= prCclude retie exercise of ap sac n ht ar remcdY [tic rncuremen[ o insurance of the a tine t a t+ or tither lens or attar�es _nc�rtoiary snot be a waiverif SeneFictaFy`s rights accelerate the maturity afnthe f}ept, Tjrrre rs of the ssence [n d tit ot7t ornlaftec of any o rhe ohfigauorts, oro any covenant or warranty centarnen m utas t�etd ofrust ar let thhheee te, aro r cuinent. 1704NC 100041 Pelle 4.f 8 IN TESTIMONY WHEREOF, the above corporate Grantor has caused this instrument to be executed under seal in its corporate name by its duly authorized with this sealed instrument being delivered on the date first above written. IN TESTIMONY WHEREOF, each individual Grantor has hereunto set his hand and adopted as his seal the word "SEAL' appearing beside or near his signature, this sealed instrument being executed and delivered on the date fust above written. Grantor: (SEAL) Nrsrthside Rapt isi_ C'itefr�pL0 tui_I a,ingtorprantor: tS AL) (CORPORATE NAM E) Inc. By: �s (SEAL) Grantor: (SEAL) Clement E. Goodson Title: — __ _ _President Grantor: (SEAL) By: IN TESTIMONY WHEREOF, the above partnership Grantor, Limited Liability Company, Limited Liability Partnership or Limited Liability Limited Partnership has caused this instrument to be executed in the appropriate company or partnership name by its duly authorized general partner(s), manager(s) or managing member(s), and has adopted as its seal the word "SEAL" appearing beside its name, this sealed instrument being executed and delivered on the date first above written. (SEAL) NAME OF PARTNERSHIP, LLC, LLP OR LLLP Title: By: (SEAL) BY— Title; Title: For Individual: STATE OF NORTH CAROLINA, COUNTY OF (SEAL) I a Notary Public, do hereby certify that an individual, Grantor, personally appeared before me this day and acknowledged that (s)he voluntarily signed this Deed of Trust for the purposes stated therein. Witness my hand and official stamp or notarial seal, this _ day of , 20_ [SEAL] Notary Public My Commission Expires: (SEAL) For Individual: STATE OF NORTH CAROLINA, COUNTY OF I, ,a Notary Public, do hereby certify that , an individual, Grantor, personally appeared before me this day and acknowledged that (s)he voluntarily signed this Deed of Trust for the purposes stated therein. Witness my hand and official stamp or notarial seal, this _____ day of , 20^ [SEAL] (SEAL) Notary Public Y My Commission Expires:_ Y 1764NC toeoa P.0 5 w 6 For a Corporation: STATE OF NORTH CAROLINA, COUNTY OF NAw Hannypr I, Robbie B. Parker a Notary Public, do hereby certify that rl ettrenj"P. ;nntis.tir�personally came before me this day and acknowledged that (s)he is the Prgsidgnt ofChurch* a corporation, Grantor, and that (s)he in such representative capacity voluntarily Sigtted [hits Deed o rust or the purposes stated therein. * of Wilmington, Inc. Witness my hand and official stamp or notarial seal this AV day of ..16rt, .200Q. �Sp :11 YF'+ HaRltt7rralrr Notary Public My Commission Expires:ce 4011 raft I For a Partnership/LLC/LLP; STATE OF NORTH CAROLINA, COUNTY OF I acknowledged that Whe is the a Notary Public, do hereby certify that personally carne before me this day and (indicate whether general partner, manager or managing member) of a , Grantor, ( A ex and that (s)he in such representative capacity voluntarily signed this Deedof Trust for ttthe purposes stated therein. Witness my hand and official stamp or notarial seal this _ day of , 20— [SEAL) (SEAL) Notary Public My Commission Expires: The foregoing or annexed certificate(s) of , Notary(ies) Public, has(have) been verified to have the signature, commission expiration date, and official seal, if required. This instrument and this certificate are duly registered at the date and time and in the Book and Page shown on the first page hereof. REGISTER OF DEEDS FOR COUNTY By:_.--_ 1764NC (00041 Page 6 0 6 Deputy/Assistant - Register of Deeds. Exhibit A Legal Description Tract One Being all of Tract A, B, C, D, E, F, G, H, and I as shown on a map entitled, "Composite Map for Various Existing Parcels of Northside Baptist Church" as the same is recorded in Map Book 46 at page 286 in the New Hanover County Registry, reference to which is hereby made for a more particular description. Tract Two Being all of Tract J as shown on a map entitled, "Composite Map for Various Existing Parcels of Northside Bapstist Church" as the same is recorded in Map Book 46 at page 286 in the New Hanover County Registry, reference to which is hereby made for a more particular description. Less and Excepting that portion of Tract J containing 1448 square feet conveyed by Northside Baptist Church of Wilmington, Inc. to William K. Trask and wife, Frankie C. Trask and Stanley D. Hollingsworth and wife, Virginia T. Hollingsworth as the same is shown in Deed Book 4986 at Page 2590 of the said Registry, Tract Three Located in Harnett Township, New Hanover County, North Carolina and beginning at an existing iron pipe at the northwest comer of Tract H as shown on a composite map of various existing parcels for Northside Baptist Church and recorded in Map Book 46 at Page 286, New Hanover County Registry. Running thence, from said point of beginning and with the western line of Tract H, Tract I, and Tract J, South 04 degrees 35 minutes 14 seconds West 789.58 feet to an iron rod set in the center of a large ditch; thence North 70 degrees 17 minutes 14 seconds West 62.37 feet to an iron rod set; thence North 04 degrees 41 minutes 50 seconds East 96.10 feet to an iron rod set; thence North 11 degrees 48 minutes 26 seconds East 170.40 feet to an iron rod set; thence North 03 degrees 54 minutes 09 seconds East 112.25 feet to an iron rod set; thence North 07 degrees 20 minutes 24 seconds East 203.78 feet to an iron set; thence North 13 degrees 29 minutes 32 seconds East 194.72 feet to the point of beginning, containing 0,667 acres more or less as computed by coordinate method and being a part of that property conveyed to Northside Baptist Church of Wilmington, Inc. in Deed Book4986, Page 2582 and Deed Book 4986, Page 2586, New Hanover County Registry, All bearings are in angular relation to NC Grid North (NAD 83) and all distances are horizontal field measurements. Tract Four Located in Harnett Township, New Hanover County, North Carolina and beginning at an iron rod at the southeast corner of Tract J as shown on a composite map of various existing parcels for Northside Baptist Church and recorded in Map Book 46 at Page 286, New Hanover County Registry. Running thence, from said point of beginning and with the western right of way line of Red Hawk Road (S.R. No. 2617, 60 foot public right of way), South 18 degrees 20 minutes 46 seconds East 45.75 feet to a point in the centerline of a large ditch extended; thence, to and with the centerline of said ditch, North 60 degrees 11 minutes 15 seconds West 98.86 feet to a point in the southern line of Tract J; thence , with the Southern line of Tract J, South 85 degrees 24 minutes 46 seconds East 71.61 feet to the point of beginning, containing 1508 square feet as computed by coordinate method and being apart of the property conveyed to Northside Baptist Church of Wilmington, Inc. in Deed Book4986, Page 2582 and Deed Book 4986, Page 2586, New Hanover County Registry. All bearings are in angular relation to NC Grid North (NAD 83) and all distances are horizontal field measurements. REBECCA P. SMITH REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 wss.r.m.+...............w•.+..rr.r.e...r...rrr..r..r....wrr.r.......r.r..vera++►r++.r...+s...a+..r....r-..a...,i.w..... Filed For Registration: 1211512006 09:42:54 AM Book: RE 5117 Page: 2770-2777 Document No.: 2008068659 DIT 8 PGS $32.00 Recorder: CRESWELL, ANDREA State of North Carolina, County of New Hanover YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2006068659* 2006068659 FOR REG SrRAffON AE[+iSrEF CF bEEOS NEG NAHOV RACWN7TH NC 6K ARS M59442.42593 FEE:S�, 4p laxoIM Revenue Stamps: ❑ • U[ 7 Recording time, book and page Parcel Identifier No. Part of R03412-007-004-000 No certification or opinion on title is expressed by the preparer of this deed except as may appear from the preparer's signed certificate or opinion, Prepared by: W. Talmage Jones Hogue, Hill, Jones, Nash & Lynch, L.L.P. P. O. Drawer 2178 Wilmington, NC 28402 Grantee mailing address: 2725 Old Wrightsboro Rd. Suite 6—A, Wilmington, NC 28405 Returned to: W. Talmage Jones, 101 S. 3'4 Sweet Wilmin ton, NC 28401 STATE OF NORTH CAROLINA WARRANTY DEED COUNTY OF NEW HANOVER KNOW ALL MEN BY THESE PRESENTS that NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina Corporation, "GRANTOR;" in consideration of TEN AND NO/100 ($10.00) DOLLARS and other good and valuable consideration, paid to GRANTOR by WILLIAM K. TRASK and wife, FRANKIE C. TRASK, and STANLEY D. HOLLINGSWORTH, and wife, VIRGINIA T. HOLLINGSWORTH, "GRANTEE," the receipt of which is hereby acknowledged, by these presents, does give, grant, bargain, sell and convey unto the said GRANTEE, and GRANTEE'S heirs, successors, and assigns, forever, in fee simple, all that certain lot or parcel of land located in the County of New Hanover, State of North Carolina, and more particularly described as follows: See Exhibit A attached hereto and incorporated herein as if set out in fulb TO HAVE AND TO HOLD the aforesaid lot or parcel of land and all privileges and appurtenances thereto belonging, to the said GRANTEE and said GRANTEE's heirs, successors, and assigns, forever, in fee simple; and the GRANTOR, for itself, its successors and assigns, does covenant with the said GRANTEE and said GRANTEE's heirs, successors and assigns, that GRANTOR is seised of the premises in fee simple, and has the right to convey the same in the estate aforesaid, that title is marketable and free and clear of all encumbrances, except as herein stated, and that GRANTOR hereby will warrant and defend the title against the lawful claims of i i -mg -ml 99 J all persons whomsoever, except for the exceptions herein stated. Title to the property is subject to the following exceptions: The provisions of all applicable zoning and land use ordinances, statutes and regulations; current year ad valorem taxes; and all applicable restrictive covenants and utility easements of record. The designation GRANTOR and GRANTEE as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. IN WITNESS WHEREOF, the GRANTOR has hereunto set his hand and seal, or if corporate, has caused this instrument to be signed in its corporate name by its duly authorized officer, this the NON PRORT c4RkRA'IM 4'i STATE OF NORTH CAROLINA COUNTY OF , 2006. NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina Corporation By:_ (SEAL) President I, a Notary Public, certify that the following person(s) personally appeared before me this day, and 0 I have personal knowledge of the identity of the principal(s) B-- I have seen satisfactory evidence of the principal's identity, by a current state or federal identification with the principal's photograph in the form of a ' rsa A credible witness has swom to the identity of the principal(s); each acknowledging to me that he or she voluntarily signed the foregoing document for the purpose stated therein and in the capacity indicated: On behalf of and as the act of the following entity: NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC., a North Carolina Corporation. Notary Public `(prin( name) My commission expires: Hi 1b, LIQ .r' &f k•I Ie.pH xN ..Tal EXHIBIT A Located in Harnett Township, New Hanover County, North Carolina and beginning at an iron rod at the southwest corner of Tract J as shown on a composite map of various existing parcels for Northside Baptist Church and recorded in Map Book 46 at Page 286, New Hanover County Registry. Running thence, from the said point of beginning and with the western line of Tract J, North 04 degrees 35 minutes 14 seconds East — 36.93 feet to a point in the centerline of a large ditch; thence, with the centerline of said large ditch, South 60 degrees 11 minutes 15 seconds East — 86.65 feet to an point in the southern line of Tract J; thence, with the southern line of Tract J, North 85 degrees 24 minutes 46 seconds West — 78.39 feet to the point of beginning, containing 1448 square feet as computed by the coordinate method and being a part of Tract J as shown on the above referenced map. All bearings are in angular relation to NC Grid North (NAD 83) and all distances are horizontal field measurements. REBECCA P. SMITH REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 Filed For Registration: 03/0212008 02:40:12 PM Book: RE 4988 Page: 2590.2593 Document No.: 2008011882 DEED 4 PCIS $20.00 Recorder: PHELPS, MICAH State of North Carolina, County of New Hanover YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2006011682* 2006011682 DEED OF TRUST WHEN RECORDED MAIL TO: Bank of America, N.A. NCI -014-13-07 P.O. Box 30120 Charlotte, NC 28254-3693 2604047421 FOR REG35TRATlON REGISTER 6F DEEDS R, ZCCR T CHRISTIAN �e "40VER COUNTY . NC 2g SEP 01 t 3 ; 63 :31 PN BK; 77 PUN -N6 FEE $69.40 INSIRNP t NAP 421 This Deed of Trust prepared by: X_ Kimberly Borders 01-1004034, Document Administrator III MAXIMUM LIEN. The maximum principal amount secured by this Deed of Trust shall not exceed at any one time $4,780,000.00. THIS DEED OF TRUST is dated September 1, 2004, among Northside Baptist Church of Wilmington, Inc, whose address is 2501 N. College Road, Wilmington, NC 28405 ("Grantor"): Bank of America, N.A., whose address is CCS -Small Business/Premier, NC1-014-13-07, 200 South College Street, 13th Floor, Charlotte, NC 28255 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and PRLAP, Inc., whose address is PRLAP, Inc. c/o 1400 Best Plaza Drive, Richmond, VA 23227 (referred to below as "Trustee"). CONVEYANCE AND GRANT. NOW, THEREFORE, as security for the Indebtedness, advancements and other sums expended by the Beneficiary pursuant to this Deed of Trust and costs of collection (including attorneys' fees as provided in the Note) and other valuable consideration, the receipt of which is hereby acknowledged, Grantor has bargained, sold, given, granted and conveyed and does by these presents bargain, sell, give, grant and convey to Trustee, and Trustee's heirs or successors and assigns, for the benefit of Lender as Beneficiary, all of Grantor's right, title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rights); RETURNED TO �� DEED OF TRUST Loan No: 01.1004034 KSB !Continued) Page 2 and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in New Hanover County, State of North Carolina: See Exhibit "A", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully set forth herein. The Real Property or Its address is commonly known as 2501 & 2597 N. College Road, Lots 124-126,128-130,136-138 Owls Lane & Units 111/113, 1151117, 1191121, 127/129, 129/131, 131/133, 1351137, 139/141, 140/142, 143-145, 144/146, 148/150, 152/154, 202/204, 206/208 Owls Lane & 122/124, 126/128, 130/132, 134/136, 133/135, 137/139, 141/143 Red Hawk Lane, Wilmington, NC 28405. To have and to hold said Real Property with all privileges and appurtenances thereunto belonging, to the Trustee, his heirs, successors and assigns forever, upon the trusts, terms and conditions and for the uses hereinafter set forth. Grantor presently assigns to Lender (also known as Beneficiary in this Deed of Trust) all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents from the Property. In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rents. THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Grantor shall pay to Lender all amounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Grantor's obligations under the Note, this Deed of Trust, and the Related Documents. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the following provisions: Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property; (2) use, operate or manage the Property; and (3) collect the Rents from the Property. Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value. Compliance With Environmental Laws. Grantor represents and warrants to Lender that: (1) During the period of Grantor's ownership of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance by any person on, under, about or from the Property; (2) Grantor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and acknowledged by Lender in writing, (a) any breach or violation of any Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property; and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local taws, regulations and ordinances, including without limitation all Environmental Laws. Grantor authorizes Lender and its agents to enter upon the Property to make such inspections and tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the Property with this section of the Deed of Trust. Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Grantor or to any other person. The representations and warranties contained herein are based on Grantor's due DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Page 3 diligence in investigating the Property for Hazardous Substances. Grantor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any such laws; and (2) agrees to indemnify and hold harmless Lender against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release occurring prior to Grantor's ownership or interest in the Property, whether or not the same was or should have been known to Grantor. The provisions of this section of the Deed of Trust, including the obligation to indemnify, shall survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise. Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent. Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal value. Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at all reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Deed of Trust. Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in effect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans With Disabilities Act. Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any proceeding, including appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest. Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property. DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real Property. A "sale or transfer" means the conveyance of Real Property or any right, title or interest in the Real Property; whether legal, beneficial or equitable; whether voluntary or involuntary; whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a term greater than three (3) years, lease -option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real Property. If any Grantor is a corporation, partnership or limited liability company, transfer also includes any change in ownership of more than twenty-five percent (25%) of the voting stock, partnership interests or limited liability company interests, as the case may be, of such Grantor. However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by North Carolina law. TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust: Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, DEED Of TRUST Loan No: 01-1004034 KSB (Continued) Page 4 assessments, charges (including water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for services rendered or material furnished to the Property. Grantor shall maintain the Property free of all liens having priority over or equal to the interest of Lender under this Deed of Trust, except for the lien of taxes and assessments not due and except as otherwise provided in this Deed of Trust. Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to pay, so long as Lender's interest in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment, Grantor shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient to discharge the lien plus any costs and attorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under the lien. In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings. Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any time a written statement of the taxes and assessments against the Property. Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work, services, or materials. Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pay the cost of such improvements. PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust. Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender. Grantor shall also procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability insurance policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender. Grantor, upon request of Lender, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least thirty (30) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other person. Should the Real Property be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is located in a special flood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan. Application of Proceeds. Grantor shall promptly notify Lender of any loss or damage to the Property. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's election, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Page 5 and repair, Grantor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default under this Deed of Trust. Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued Interest, and the remainder, if any, shall be applied to the principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear. Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report on each existing policy of insurance showing: (1) the name of the insurer; (2) the risks insured; (3) the amount of the policy; (4) the property insured, the then current replacement value of such property, and the manner of determining that value; and (5) the expiration date of the policy. Grantor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property. LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's interest in the Property or if Grantor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note's maturity. The Deed of Trust also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust: Title. Grantor warrants that: (a) Grantor holds good and marketable title of record to the Property in fee simple, free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connection with this Deed of Trust, and (b) Grantor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding is commenced that questions Grantor's title or the interest of Trustee or lender under this Deed of Trust, Grantor shall defend the action at Grantor's expense. Grantor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such participation. Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities. Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor in this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing in nature, and shall remain in full force and effect until such time as Grantor's Indebtedness shall be paid in full. DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Page 6 CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal party in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation. Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation. IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to governmental taxes, fees and charges are a pert of this Deed of Trust: Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust. Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon all or any part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Grantor which Grantor is authorized or required to deduct from payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Grantor. Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust, this event shall have the same effect as an Event of Default, and Lender may exercise any or ail of its available remedies for an Event of Default as provided below unless Grantor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender. SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a part of this Deed of Trust: Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to time. Security Interest. Upon request by Lender, Grantor shall execute financing statements and take whatever other action is requested by Lender to perfect and continue Lender's security interest in the Rents and Personal Property. In addition to recording this Deed of Trust in the real property records, Lender may, at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement. Grantor shall reimburse Lender for all expenses incurred in perfecting or continuing this security interest. Upon default, Grantor shall not remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it available to Lender within three (3) days after receipt of written demand from DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Lender to the extent permitted by applicable law. Page 7 Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information concerning the security interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this Deed of Trust. FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this Deed of Trust: Further Assurances. At any time, and from time to time, upon request of Lender, Grantor will make, execute and deliver, or will cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such times and in such offices and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Grantor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and security interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by Grantor. The lien of this Deed of Trust and the security interest granted hereby will automatically attach, without further act, to all after-acquired property attached to and or used in the operation of the Property or any part thereof. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph. Attorney -in -Fact. If Grantor fails to do any of the things referred to in the preceding paragraph, Lender may do so For and in the name of Grantor and at Grantor's expense. For such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for the purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole opinion, to accomplish the matters referred to in the preceding paragraph. FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Grantor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any reconveyance fee required by law shall be paid by Grantor, if permitted by applicable law. DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust: Payment Default. Grantor fails to make any payment when due under the Indebtedness. Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien. Other Defaults. Grantor fails to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and Grantor. Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in any of the Related Documents. If such a failure is curable and if Grantor has not been given a notice of a breach of the same provision of this Deed of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice demanding cure of such failure: (a) cures the failure within fifteen (15) days; or (b) if the cure requires more than fifteen (15) days, immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. DEED OF TRUST Loan No: 01-1004034 KSB {Continued) Page 8 Default in Favor of Third Parties. Should Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Grantor's property or Grantor's ability to repay the Indebtedness or perform their respective obligations under this Deed of Trust or any of the Related Documents. False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes 'False or misleading at any time thereafter. Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Insolvency. The dissolution or termination of Grantor's existence as a going business, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Grantor. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Grantor or by any governmental agency against any property securing the Indebtedness. This includes a garnishment of any of Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute. Breach of Other Agreement. Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is not remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Grantor to Lender, whether existing now or later. Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness is impaired. Insecurity. Lender in good faith believes itself insecure. RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may exercise any one or more of the following rights and remedies: Election of Remedies. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Grantor under this Deed of Trust, after Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies. Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable, including any prepayment penalty which Grantor would be required to pay. Express Power of Sale Provision. Upon the application or request of Lender, it shall be lawful for and the duty of the Trustee, and the Trustee is hereby authorized and empowered, to expose to sale and to sell the Property at public auction for cash, after having first complied with all applicable requirements of North Carolina law with respect to the exercise of powers of sale contained in deeds of trust or such other sales DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Page 9 appropriate under the circumstances; and upon any such sale, the Trustee shall convey title to the purchaser in fee simple. In the event of any sale under this Deed of Trust by virtue of the exercise of the powers granted in this Deed of Trust, or pursuant to any order and any judicial proceeding or otherwise, the Property may be sold as an entirety or in separate parcels and in such manner or order as Lender in its sole discretion may elect. Trustee shall be authorized to hold a sale pursuant to North Carolina General Statute Chapter 45. If Trustee so elects, Trustee may sell the Property covered by this Deed of Trust at one or more separate sales in any manner permitted by applicable North Carolina law, and any exercise of the powers granted in this Deed of Trust shall not extinguish or exhaust such powers, until the entire Property is sold or the Indebtedness is paid in full. If such Indebtedness is now or hereafter further secured by any chattel mortgages, pledges, contracts of guaranty, assignments of lease or other security instruments, Lender may at its option exercise the remedies granted under any of the security agreements either concurrently or independently and in such order as Lender may determine. Foreclosure. With respect to all or any part of the Real Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law. UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Uniform Commercial Code. Collect Rents. Lender shall have the right, without notice to Grantor to take possession of and manage the Property and collect the Rents, including amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed, Lender may exercise its rights under this subparagraph either in person, by agent, or through a receiver, Appoint Receiver. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost of the receivership, against the Indebtedness. The receiver may serve without bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver. Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender's option, either (1) pay a reasonable rental for the use of the Property, or (2) vacate the Property immediately upon the demand of Lender. Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or by law. Notice of Sale. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at least ten (10) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction with any sale of the Real Property. Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all rights to have the Property marshalled. In exercising its rirlhts and remedies, the Trustee or Lender shall be free to sell all or any part of the Property together or separately, in one sale or by separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the Property. DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Page 10 Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the terms of this Deed of Trust, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the Indebtedness payable on demand and shall bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses, whether or not there is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post -judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law. Grantor also will pay any court costs, in addition to all other sums provided by law. Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section. POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this Deed of Trust: Powers of Trustee. In addition to all powers. of Trustee arising as a matter of law, Trustee shall have the power to take the following actions with resect to the Property upon the written request of Lender and Grantor: (a) join in preparing and filing a map or plat of the Real Property, including the dedication of streets or other rights to the public; (b) join in granting any easement or creating any restriction on the Real Property; and (c) join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust. Trustee. Trustee shall meet all qualifications required for Trustee under applicable law. In addition to the rights and remedies set forth above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law. Trustee's Fees. The Trustee's commission shall be five percent (5%) of the gross proceeds of the sale for a completed foreclosure. In the event foreclosure is commenced, but not completed, Grantor shall pay all expenses incurred by Trustee and partial commission computed on five percent (5%) of the outstanding Indebtedness, according to the following schedule: one-fourth of the commission before Trustee issues a notice of hearing on the right to foreclosure; one-half of the commission after issuance of notice of hearing; three-fourths of the commission after a hearing; and the full commission after the initial sale. Express Power to Substitute a Trustee. Lender shall have the irrevocable right to remove at any time and from time to time without limit the Trustee named in this Deed of Trust without notice or cause and to appoint a successor by an instrument in writing, duty acknowledged, in such a form as to entitle such written instrument to be recorded in the State of North Carolina; and, in the event of the death or resignation of the Trustee named in this Deed of Trust, Lender shall have the right to appoint a successor by such written instrument, and any Trustee so appointed shall be vested with the title to the Property, and shall possess all the powers, duties and obligations herein conferred on the Trustee in the same manner and to the same extent as though the successor trustee were named in this Deed of Trust as Trustee. NOTICES. Any notice required to be given under this Deed of Trust, including without limitation any notice of default and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise ,equired by law), when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Deed of Trust. Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties, specifying that the purpose of the notice is to change the party's address, For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Page 11 notice given to all Grantors. ARBITRATION. (a) This paragraph concerns the resolution of any controversies or claims between the parties, whether arising in contract, tort or by statute, including but not limited to controversies or claims that arise out of or relate to: (i) this agreement (including any renewals, extensions or modifications); or (ii) any document related to this agreement (collectively a "Claim"). For the purposes of this arbitration provision only, the term "parties" shall include any parent corporation, subsidiary or affiliate of the Bank involved in the servicing, management or administration of any obligation described or evidenced by this agreement. (b) At the request of any party to this agreement, any Claim shall be resolved by binding arbitration in accordance with the Federal Arbitration Act (Title 9, U. S. Code) (the "Act"). The Act will apply even though this agreement provides that it is governed by the law of a specified state. (c) Arbitration proceedings will be determined in accordance with the Act, the applicable rules and procedures for the arbitration of disputes of JAMS or any successor thereof ("JAMS"), and the terms of this paragraph. In the event of any inconsistency, the terms of this paragraph shall control. (d) The arbitration shall be administered by JAMS and conducted, unless otherwise required by law, in any U. S. state where real or tangible personal property collateral for this credit is located or if there is no such collateral, in the state specified in the governing law section of this agreement. All Claims shall be determined by one arbitrator; however, if Claims exceed $5,000,000, upon the request of any party, the Claims shall be decided by three arbitrators. All arbitration hearings shall commence within 90 days of the demand for arbitration and close within 90 days of commencement and the award of the arbitrator(s) shall be issued within 30 days of the close of the hearing. However, the arbitrator(s), upon a showing of good cause, may extend the commencement of the hearing for up to an additional 60 days. The arbitrator(s) shall provide a concise written statement of reasons for the award. The arbitration award may be submitted to any court having jurisdiction to be confirmed and enforced. (e) The arbitrator(s) will have the authority to decide whether any Claim is barred by the statute of limitations and, if so, to dismiss the arbitration on that basis. For purposes of the application of the statute of limitations, the service on JAMS under applicable JAMS rules of a notice of Claim is the equivalent of the filing of a lawsuit. Any dispute concerning this arbitration provision or whether a Claim is arbitratable shall be determined by the arbitrator(s). The arbitrator(s) shall have the power to award legal fees pursuant to the terms of this agreement. (f) This paragraph does not limit the right of any party to: (i) exercise self-help remedies, such as but not limited to, setoff; (ii) initiate judicial or nonjudicial foreclosure against any real or personal property collateral; (iii) exercise any judicial or power of sale rights, or (iv) act in a court of law to obtain an interim remedy, such as but not limited to, injunctive relief, writ of possession or appointment of a receiver, or additional or supplementary remedies. (g) The filing of a court action is not intended to constitute a waiver of the right of any party, including the suing party, thereafter to require submittal of the Claim to arbitration. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. FINAL AGREEMENT. BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS DOCUMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, (B) THIS DOCUMENT SUPERSEDES ANY COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS RELATING TO THE SUBJECT MATTER HEREOF, UNLESS SUCH COMMITMENT LETTER, TERM SHEET OR OTHER WRITTEN OUTLINE OF TERMS AND CONDITIONS EXPRESSLY PROVIDES TO THE CONTRARY, (C) THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES, AND (D) THIS DOCUMENT MAY NOT BE CONTRADICTED BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE DEED OF TRUST Loan No: 01-1004034 KSB (Continued) PARTIES. Page 12 ADDRESS FOR NOTICES. Notwithstanding anything to the contrary herein, all notices and communications to the Lender shall be directed to the following address: Bank of America, N.A. Charlotte CCS, Attn: Notice Desk 200 South College, 13th Floor Charlotte, NC 28255. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this Deed of Trust. No alteration of or amendment to this Deed of Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. Annual Reports. If the Property is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request, a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Lender shall require. "Net operating income" shall mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the Property. Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the provisions of this Deed of Trust. Merger. There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent of Lander. Governing Law. This Deed of Trust will be governed by, construed and enforced in accordance with federal law and the laws of the State of North Carolina. This Deed of Trust has been accepted by Lender in the State of North Carolina. Choice of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of any County, State of North Carolina. No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Deed of Trust. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. Severability. If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If Feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. if the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by law, the illegality, invalidity, or unenforceability of any provision of this Deed of Trust shall not affect the legality, validity or enforceability of any other provision of this Deed of Trust, Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantor's interest, this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Page 13 notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust or liability under the Indebtedness. Time is of the Essence. Time is of the essence in the performance of this Deed of Trust. DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform Commercial Code: Beneficiary. The word "Beneficiary" means Bank of America, N.A., and its successors and assigns. Borrower. The word "Borrower" means Northside Baptist Church of Wilmington, Inc and includes all co-signers and co -makers signing the Note. Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Grantor, Lender, and Trustee, and includes without limitation all assignment and security interest provisions relating to the Personal Property and Rents. Default. The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default". Environmental Laws. The words "Environmental Laws" mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the Superfund Amendments and Reauthorization Act of 1966, Pub. L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, at seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the default section of this Deed of Trust. Grantor. The word "Grantor" means Northside Baptist Church of Wilmington, Inc. Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without limitation a guaranty of all or part of the Note. Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words "Hazardous Substances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the Environmental Laws. The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by-products or any fraction thereof and asbestos. Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property, Indebtedness. The word "Indebtedness" means the indebtedness evidenced by the Note or Related Documents, including all principal and interest together with all other indebtedness and costs and expenses for which Borrower or Grantor or any other borrower, guarantor, pledgor, obligor or accommodation party is responsible under this Agreement or under any of the Related Documents, including any swap, option or forward obligations. Lender. The word "Lender" means Bank of America, N.A., Its successors and assigns DEED OF TRUST Loan No: 0 1-1 004034 KSB (Continued) Page 14 Note. The word "Note" means the promissory note dated September 1, 2004, in the original principal amount of $4,780,000.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property, Property. The word "Property" means collectively the Real Property and the Personal Property. Real Property. The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust. Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness. Rents. The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property. Trustee. The word "Trustee" means PRLAP, Inc., whose address is PRLAP, Inc, c/o 1400 Best Plaza Drive, Richmond, VA 23227 and any substitute or successor trustees. GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND GRANTOR AGREES TO ITS TERMS. IN WITNESS WHEREOF GRANTOR HAS CAUSED THIS DEED OF TRUST TO BE SIGNED IN GRANTOR'S CORPORATE NAME BY GRANTOR'S DULY AUTHORIZED OFFICERS AND HAS CAUSED GRANTOR'S SEAL TO BE AFFIXED TO THIS DEED OF TRUST BY THE AUTHORITY OF GRANTOR'S BOARD OF DIRECTORS ON THE DATE SHOWN AT THE BEGINNNING OF THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS DEED OF TRUST IS AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. GRANTOR: NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC By: —Avulk_ (Seal) s ; Clement E. Goodson, President of Northside Baptist Church of Wilmington, Inc? ATTEST: Secretary or�ssistarnSeciretary — — (Corporate 5e ' DEED OF TRUST Loan No: 01-1004034 KSB (Continued) Page 15 CORPORATE ACKNOWLEDGMENT STATE OF North Carolina ) SS • • \,a, • c l..11' a Notary Public for said County and State, certify that I . personally came before me this day and acknowledged that he or she is _- _. Secretary of Northside Baptist Church of Wilmington, Inc, a corporation and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its name by its President of Northside Baptist Church of Wilmington, Inc, sealed with its corporate seal, and attested by himself or herself as its _ _ Secretary. Witness my hand and Notarial Seal this the.---- _ 1 _ day of September , 20DA_ �I ��t��rlt�rrt�grr Mary Public My Commission Expires: ( Affix Notarial Seal Here 1 it Z fit 11%,ft A$1}1! �mrtn*- vM In F— ea—. •- X90. 20" RY wry, R„rw, W i SIL, EXHIBIT "A" ATTACHMENT Being all of Tracts A, B and C as the same are shown on a Composite Map of proposed and existing parcels of Northside Baptist Church by Arnold W. Carson PLS, PC dated August 13, 2004, recorded In Map Book 46, Page 286, New Hanover County Reigstry, reference to which is hereby made for a more complete description. NORTHSIDEBAPT0804 2501 Cvitage Road North, Wilmington, NC 28405 REBECCA T. CHRISTIAN REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 Filed For Registration: 08/0112004 03:53:31 PM Book: RE 4477 Page: 270.286 Document No.: 2004047421 DR 17 PGS $59.00 Recorder. NANCY A SCOTT *#**Ft!##-RAtRi Fo}#w�1r*#*#*11f#pfi#►*I*#*a k##!***�*****R***i******#*### #f Y*****Yli***kff****AY**1t#11 *i***'k*!********!i4*!**f* State of North Carolina, County of New Hanover The foregoing certificate of KELLY REPKO Notary is certified to be correct. This 1 ST of September 2004 REBECQA T. CHRISTIAN, REGISTER OF DEEDS DeputyAk8swumt YELLOW PROBATE SHEET IS A VITAL PART OF YOUR RECORDED DOCUMENT. PLEASE RETAIN WITH ORIGINAL DOCUMENT AND SUBMIT FOR RE-RECORDING. *2004047421 * 2004047421 � 1 '� � � � �Fi' `ti � � r• i t�'-' r_= f■ Jr. y 1 - -i r - 1a' ' r m,■ - i?, �-I♦rr 1jmum ■�•��♦� mm-mr 0— f 6 -m -- m" -Aw.- L & -i qw :: -avor-- + QCMAI 11 ��6�r� t"11IT'..11 11111 2003039639 FOR RRG3SIRQ7TON159�E_ NER OF DEEDS u YWNOVER COIA7YY, NC 2003 JUN 25 03 69 - 11 PM BK -3857 PG -343-360 FEE $62 00 151 010 # NINE DEED OF TRUST WHEN RECORDED MAIL TO: Bank of America, N.A. NCI -014-13-07 P.O. Box 30120 Charlotte, NC 28254-3693 This Deed of Trust prepared by X Rosalind N. Crawford, Document Administrator MAXIMUM LIEN. The maximum principal amount secured by this Deed of Trust shall not exceed at any one time $407,084 00. THIS DEED OF TRUST is dated June 24, 2003, among Northslde Baptist Church of Wilmington, Inc , whose eddreas is 2501 N College Road, Wilmington, NC 28405.8809 ("Grantor"); Bank of America, N.A., whose address Is CCS -Small Business/Premier, NC1-014-13-07, 200 South College Street, 13th Floor, Charlotte, NC 28255 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"), and PRLAP, Inc, whose address is PRLAP, Inc. c/o 1400 Beet Plaza Drive, Richmond, VA 23227 (referred to below as "Trustee") CONVEYANCE AND GRANT. NOW, THEREFORE, as security for the Indebtedness, advancements and other sums expended by the Beneficiary pursuant to this Deed of Trust and costs of collection (including attorneys' fees as provided In the Note) and other valuable consideration, the receipt of which is hereby acknowledged, Grantor has bargained, sold, given, granted and conveyed and does by these presents bargain, sell, give, grant end convey to Trustee, and Trustee's heirs or successors and assigns, for the benefit of Lender as Beneficiary, all of Grantor's right, title, and interest in and to the following described real property, together with all existing or subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances, all water, water rights and ditch rights (including stock in utilities with ditch or irrigation rights); RETURNED TO )- t �.J Loan No: 01-1004034-RNC DEED OF TRUST(Continued) Page 2 and all other rights, royalties, and profits relating to the real property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located In New Hanover County, state of North Carolina: Sae Exhibit "A", which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully set forth heraIn. The Reel Property or Its address is commonly known as 2501, 2697 N College Road and four duplexes- 124-126, 128-130, 136.138 Owls Lane, Wilmington, NC 28405. To have and to hold said Real Property with all privileges and appurtenances thereunto belonging, to the Trustee, his helrs, successors and assigns forever, upon the trusts, terms and conditions and for the uses hereinafter set forth. Grantor presently assigns to Lender lalso known as Beneficiary in this Dead of Trust) all of Grantor's right, title, and interest in and to all present and future leases of the Property and all Rents from the Property In addition, Grantor grants to Lender a Uniform Commercial Code security interest in the Personal Property and Rants THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (8) PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THE NOTE, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS; PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust. Grantor shall pay to Lender all arnounts secured by this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Grantor's obligations under the Nota, this Heed of Trust, and the Related Documents, POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the following provisions Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control of the Property, (2) use, operate or manage the Property, and (3) collect the Rents from the Property Duty to Maintain. Grantor shall maintain the Property in tenantable condition and promptly perform all repairs, replacements, and maintenance necessary to preserve its value Compliance Wlth Environmental laws, Grantor represents and warrants to Lender that ii) During the period of Grantor's ownership of the Property, there has been no use, generation, manufacture. storage, treatment, disposal, release or threatened release of any Hazardous Substance by any person on, under, about ar from the Property, (21 Grantor has no knowledge of, or reason to believe that there has been, except as previously disclosed to and acknowledged by Lender in writing, is) any breach or violation of any Environmental Laws, ib) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, of (e) any actual or threatened litigation or claims of any kind by any person relating to such matters: and (3) Except as previously disclosed to and acknowledged by Lender in writing, (a) neither Grantor nor any tenant, contractor, agent or other authorized user of the Property shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about Or from the Property; and (bi any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and ordinances, including without limitation all Environmental Laws Grantor authorizes Lender and its agents to enter upon the Property to make such inspections and tests, at Grantor's expanse, as Lender may deem appropriate to determine compliance of this Property with this section of the Dead of Trust Any inspections or tests made by Lender shall be for Lender's purposes only and shall not be construed to create any responsibility or liability on the part of Lender to Granter or to any other person The representations and warranties contained herein are based on Grantor's due diligence in investigating the Property for Hazardous Substances. Grantor hereby i l) releases and waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any such laws, and (2) agrees to indemnify and hold harmless Lender DEED OF TRUST Loan No: 01 -1004034 -RNC (Continued) Page 3 against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender may directly or indirectly sustain or suffer resulting from a breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or threatened release occurring prior to Grantor's ownership or Interest in the Property, whether or not the same was or should have been known to Grantor The provisions of this section of the Doed of Trust, including the obligation to indemnify, shall survive the payment of the indebtedness and the satisfaction and reconveyance of the Igen of this Deed of Trust and shall not be affected by Lender's acquisition of any interest in the Property, whether by foreclosure or otherwise Nuisance, Waste Grantor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on or to the Property or any portion of the Property Without limiting the generality of the foregoing, Grantor will not remove, or grant to any other party the right to remove, any timber, minerals {including oil and gas), coal, clay, scoria, soil, gravel or rock products without Lender's prior written consent Removal of Improvements. Grantor shall not demolish or remove any Improvements from the Real Property without Lender's prior written consent. As a condition to the removal of any Improvements, Lender may require Grantor to make arrangements satisfactory to Lender to replace such Improvements with Improvements of at least equal value Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon the Real Property at ail reasonable times to attend to Lender's interests and to inspect the Real Property for purposes of Grantor's compliance with the terms and conditions of this Deed of Trust Compliance with Governmental Requirements. Grantor shall promptly comply with all laws, ordinances, and regulations, now or hereafter in affect, of all governmental authorities applicable to the use or occupancy of the Property, including without limitation, the Americans With Disabilities Act Grantor may contest in good faith any such law, ordinance, or regulation and withhold compliance during any proceeding, inciuding appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized. Lender may require Grantor to post adequate security or a surety bond, reasonably satisfactory to Lender, to protect Lender's interest. Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property. Grantor shall do all other acts, in addition to those acts set forth above in this section, which from the character and use of the Property are reasonably necessary to protect and preserve the Property DUE ON SALE - CONSENT BY LENDER. Lender may, at Lender's option, declare immediately due and payable all sums secured by this Deed of Trust upon the sale or transfer, without Lender's prior written consent, of all or any part of the Real Property, or any interest in the Real Property A "sale or transfer" means the conveyance of Real Property or any right, title or interest In the Real Property, whether legal, beneficial or equitable, whether voluntary or involuntary, whether by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest with a term greater than three (3) years, lease -option contract, or by sale, assignment, or transfer of any beneficial interest in or to any land trust holding title to the Real Property, or by any other method of conveyance of an interest in the Real Property if any Grantor is a corporation, partnership or limited liability company, transfer also includes any change In ownership of more then twenty-five percent (26%) of the voting stock, partnership interests or limited liability company interests, as the case may be, of such Grantor However, this option shall not be exercised by Lender if such exercise is prohibited by federal law or by North Carolina law TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are part of this Deed of Trust Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes, special taxes, assessments, charges (including water and sewer), fines and impositions levied against or on account of the Property, and shall pay when due all claims for work done on or for services rendered or material furnished to the Property Grantor shall maintain the Property free of all liens having priority over or equal DEED OF TRUST Loan No: 01 -1004034 -RNC (Continued) Page 4 to the interest of Lender under this Deed of Trust, except for the Iron of taxes and assessments not due and except as otherwise provided in this Dead of Trust Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in connection with a good faith dispute over the obligation to pay, so long as Lender's interest rn the Property is not jeopardized If a Iran arises or is filed as a result of nonpayment, Grantor shall within fifteen (15) days after the Iron arises or, if a Iron is filed, within fifteen (15) days after Grantor has notice of the filing, secure the discharge of the lien, or if requested by Lender, deposit with Lender cash or .a sufficient corporate surety bond or other security satisfactory to Lender in an amount sufficient to discharge the lien plus any casts and attorneys' fees, or other charges that could accrue as a result of a foreclosure or sale under the lien In any contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before enforcement against the Property. Grantor shall name Lender as an additional obliges under any surety bond furnished in the contest proceedings. Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence of payment of the taxes or assessments and shall authorize the appropriate governmental official to deliver to Lender at any tirrm a written statement of the taxes and assessments against the Property Notice of Construction Grantor shall notify Lender at least fifteen (15) days before any work is commenced, any services are furnished, or any materials are supplied to the Property, if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the work, services, or materials Grantor will upon request of Lender furnish to Lender advance assurances satisfactory to Lender that Grantor can and will pay the cost of such improvements PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the Property are a part of this Deed of Trust Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance with standard extended coverage endorsements on a replacement basis for the full insurable value covering all Improvements on the Real Property in an amount sufficient to avoid application of any coinsurance clause, and with a standard mortgagee clause in favor of Lender Grantor shall also procure and maintain comprehensive general liability insurance in such coverage amounts as Lender may request with Trustee and Lender being named as additional insureds in such liability insurance policies. Additionally, Grantor shall maintain such other insurance, including but not limited to hazard, business interruption, and boiler insurance, as Lender may reasonably require. Policies shall be written in form, amounts, coverages and basis reasonably acceptable to Lender and issued by a company or companies reasonably acceptable to Lender Grentor, upon request of Lender, will deliver to Lender from time to time the policies or certificates Of insurance In farm satisfactory to Lender, including stipulations that coverages will not be cancelled or diminished without at least thirty (301 days prior written notice to Lender Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Grantor or any other person Should the Rea( Property be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Grantor agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by Lender that the Property is located in a special flood hazard area, for the full unpaid principal balance of the loan and any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise required by Lender, and to maintain such insurance for the term of the loan. Application of Proceeds Grantor shall promptly notify Lender of any loss or damage to the Property Lender may make proof of loss if Grantor fads to do so within fifteen (15) days of the casualty, Whether or not Lender's security is impaired, Lender may, at Lender's electron, receive and retain the proceeds of any insurance and apply the proceeds to the reduction of the Indebtedness, payment of any hen affecting the Property, or the restoration and repair of the Property. If Lender elects to apply the proceeds to restoration and repair. Grantor shall repair or replace the damaged or destroyed Improvements in a manner satisfactory to Lender Lender shell, upon satisfactory proof of such expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if Grantor is not in default under this Dead of DEED OF TRUST Loan No. 01 -1004034 -RNC (Continued) Page 5 Trust Any proceeds which have not been disbursed within 180 days after their receipt and which Lender has not committed to the repair or restoration of the Property shall be used first to pay any amount owing to Lender under this Deed of Trust, then to pay accrued interest, and the remainder, sf any, shall be applied to the principal balance of the Indebtedness If Lender holds any proceeds after payment in full of the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear Grantor's Report on Insurance. Upon request of Lender, however not more than once a year, Grantor shall furnish to Lender a report on each existing policy of insurance showing. (1) the name of the insurer, (2) the risks insured, (3) the amount of the policy, (4) the property insured, the then current replacement value of such property, and the manner of determining that value, and (6) the expiration date of the policy Grantor shall, upon request of Lender, have an independent appraiser satisfactory to Lender determine the cash value replacement cost of the Property LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender's Interest In the Property or if Grantor fails to comply with any provision of this Deed of Trust or any Related Documents, including but not limited to Grantor's failure to discharge or pay when due any amounts Grantor is required to discharge or pay under this Deed of Trust or any Related Documents, Lender on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, Including but not limited to discharging or paying all taxes, (lens, security Interests, encumbrances and other claims, at any time levied or placed on the Property and paying all costs for Insuring, maintaining and preserving the Property All such expenditures Incurred or paid by Lender fpr such purposes will then bear Interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by Grantor All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand, (8) be added to the balance of the Note and be apportioned among and be payable with any Instalment payments to become due during either (1) the term of any applicable Insurance policy; or (2) the remaining term of the Nota; or (C) be treated as a balloon payment which will be duo and payable at the Note's maturity The Deed of Trust also will secure payment of these amounts Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust Title. Grantor warrants that. (a) Grantor holds good and marketable title of record to the Property In fee simple, free and clear of all liens and encumbrances other then those set forth In the Real Property description or In any title Insurance policy, title report, or final title opinion Issued In favor of, and accepted by, Lender In connection with this Deed of Trust, and (b) Grantor has the full right, power, and authority to execute and deliver this Deed of Trust to Lender. Defense of Title. Subject to the exception In the paragraph above, Grantor warrants and will forever defend the title to the Property against the lawful claims of all persons. In the event any action or proceeding Is commenced that questions Grantor's title or the Interest of Trustee or Lender under this Deed of Trust, Grantor shall defend the action at Grantor's expense Grantor may be the nominal party In such proceeding, but Lender shall be entitled to participate In the proceeding and to be represented In the proceeding by counsel of Lender's own choice, and Grantor will deliver, or cause to be delivered, to Lender such Instruments as Lender may request from time to time to permit such participation Compliance With Laws. Grantor warrants that the Property and Grantor's use of the Property complies with all existing applicable laws, ordinances, and regulations of governmental authorities Survival of Representations and Warranties. All representations, warranties, and agreements made by Grantor In this Deed of Trust shall survive the execution and delivery of this Deed of Trust, shall be continuing In nature, and shall remain In full force and effect until such time as Grantor's Indebtedness shall be paid in full CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust DEED OF TRUST Loan No- 01-1004034-RNC (Continued) Page B Proceedings If any proceeding In condemnation is filed, Grantor shall promptly notify Lender in writing, and Grantor shall promptly take such steps as may be necessary to defend the action and obtain the award. Grantor may be the nominal parry in such proceeding, but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Grantor will deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit such participation Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender may at its election require that all or any portion of the net proceeds of the award be applied to the Indebtedness or the repair or restoration of the Property The net proceeds of the award shall mean ilia award after payment of all reasonable costs, expenses, and attorneys' fees incurred by Trustee or Lender in connection with the condemnation IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES The following provisions relaiing to governmental taxes, fees and charges are a part of this Dead of Trust Current Taxes, Fees and Charges Upon request by Lender, Grantor shall execute such documents in addition to this Deed of Trust and take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property Grantor shall reimburse Lender for all taxes, as dascrcbed below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including without limitation all taxes, fees, documentary stamps, and other charges for recording or registering this Deed of Trust Taxes. The following shall constitute taxes to which this section applies f 1) a specific tax upon this type of Dead of Trust or upon all or any pert of the Indebtedness secured by this Dead of Trust; (2) a specific tax an Grantor which Grantor is authorized or required to deduct from payments on the Indebtedness secured by this type of Daed of Trust, (3) a tax on this type of Deed of Trust chargeable against the Lender or the holder of the Note; and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by Grantor Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Dead of Trust, this event shall have the same effect as an Event of Default, and Lender may exercise any or all of its available remedies for art Event of Default as provided below unless Grantor either (1} pays the tax before it becomes delinquent, or (2) contests Ute tax as provided above in the Taxes and Liens section and deposits with Lander cash or a sufficient corporate surety bond or other security satisfactory to Lender SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of Trust as a security agreement are a pert of this Deed of Trust Security Agreement, This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures, and Lender shall have all of the rights of a secured party under the Uniform Commercial Cotta as amended from time to time Security Interest. Upon request by Lender, Grantor shall execute financing statements and take whatever other action is requested by Lender to perfect and continue Lender's security interest in the Rants and Personal Property In addition to recording this Deed of Trust in the real property records, Lander may, at any time and without further authorization from Grantor, file executed counterparts, copies or reproductions of this Deed of Trust as a financing statement Grantor shall reimburse Lender for all expenses incurred in perfecting at continuing this security interest Upon default, Grantor shall not remove, sever or detach the Personal Property from the Property. Upon default, Grantor shall assemble any Personal Property not affixed to the Property in a manner and at a place reasonably convenient to Grantor and Lender and make it Available to Lender within three (3) days after receipt of written demand from Lender to the extent permitted by applicable law Addresses. The mailing addresses of Grantor (debtor) and Lender (secured party) from which information DEED OF TRUST Loan No- 01 -1004034 -RNC (Continued) Page 7 concerning the security interest granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code? are as stated on the first page of this Deed of Trust FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attorney-in-fact are a part of this Deed of Trust Further Assurances. At any time, and from time to time, upon request of Lender, Grantor will make, execute and deliver, or vrdl cause to be made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or rerecorded, as the case may be, at such Limas and In such offices and places as Lender may deem appropriate, any and all such mortgages, deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance, certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate, complete, perfect, continue, or preserve (1) Grantor'% obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and seccrny interests created by this Deed of Trust as first and prior liens on the Property, whether now owned or hereafter acquired by Grantor The lien of this Dead of Trust and the security interest granted hereby will automatically attach, without further act, to all after-acquired property attached to and or used in the operation of the Property or any part thereof. Unless prohibited by law or Lender agrees to the contrary in writing, Grantor shall reimburse Lender for all costs and expenses incurred in connection with the matters referred to in this paragraph Attorney -In -Fact. It Grantor falls to do any of tha things referred to in Lha preceding paragraph, Lender may do so for end in the name of Grantor and at Grantor's expense For such purposes, Grantor hereby (irrevocably appoints Lender as Grantor's attorney -In -fact for the purpose of making, executing, delivering, Ming, recording, and doing all other things as may be necessary or desirable, to Lender's sole opinion, to accomplish the matters referred to in the preceding paragraph FULL PERFORMANCE. If Grantor pays all the Indebtedness when due, and otherwise performs all the obligations imposed upon Grantor under this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Grantor suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property Any reconveyance fee required by law shall be paid by Grantor, if permitted by applicable law DEFAULT. Each of the following, at Lender's option, shall constitute an Event of Default under this Deed of Trust Payment Default. Grantor falls to make any payment when due under the Indebtedness Default on Other Payments. Failure of Grantor within the time required by this Deed of Trust to make any payment for taxes or insurance, or any other payment necessary to prevent filing of or to effect discharge of any lien Other Defaults, Grantor fads to comply with or to perform any other term, obligation, covenant or condition contained in this Deed of Trust or in any of the Related Documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and Grantor Compliance Default. Failure to comply with any other term, obligation, covenant or condition contained in this Deed of Trust, the Note or in any of the Related Documents If such a failure is curable and if Grantor has not been given a notice of a breach of the some provision of this Deed of Trust within the preceding twelve (12) months, it may be cured (and no Event of Default will have occurred) if Grantor, after Lender sends written notice demanding cure of such failure (a) cures the failure within fifteen (15) days, or (b) if the cure requires more then fifteen (15) days, immediately initiates steps sufficient to cure the failure and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. Default In Favor of Third Parties. Should Grantor default under any loan, extension of credit, security agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person DEED OF TRUST Loan No: 01-1004034-RNC (Continued) Page 8 that may materially affect any of Grantor's property or Grantor's ability to repay the indebtedness or Perform their respective obligations under this Deed of Trust or any of the Related Documents, False Statements. Any warranty, representation or statement made or furnished to Lender by Grantor or on Grantor's behalf under this Deed of Trust or the Related Documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter Defective Collateralization. This Deed of Trust or any of the Related Documents ceases to be in full force and effect (including failure of any collateral document to create a valid and perfected security interest or lien) at any time and for any reason. Insolvency, The dissolution ❑r termination of Grantor's existence as a going business, the insolvency of Grantor, the appointment of a receiver for any part of Grantor's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insnivancy laws by or against Grantor Creditor or Forfeiture Proceedings. Gemmencement of foreclosure or forfeiture preceadings, whether by judicial proceeding, self-help, repossession or any other method, by any creditor of Grantor or by any governmental agency against any property seeunng the )ndebtedness. This includes a garnishment of any Of Grantor's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a goad faith dispute by Grantor as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Grantor gives Lender written nonce of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture Proceeding, in an amount determined by lender, in its sole discretion, as bung an adequate reserve or bond for the dispute Breach of Other Agreement Any breach by Grantor under the terms of any other agreement between Grantor and Lender that is net remedied within any grace period provided therein, including without limitation any agreement concerning any indebtedness or other obligation of Grantor to Lender, whether existing now or later. Events Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser, surety, or accommodation party of any of the Indebtedness or any guarantor, endorser, surety, or accommodation party dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any Guaranty of the Indebtedness. Adverse Change. A material adverse change occurs in Grantor's financial condition, or Lender believes the prospect of payment or performance of the Indebtedness is impaired Insecurity, Lender in good faith believes itself insecure RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under this Deed of Trust, at any time thereafter, Trustee or Lender may exercise any one or more of the following rights and remedies Election of Remedies. Election by Lander to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Grantor under this Deed of Trust, after Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor to declare the entire Indebtedness immediately due and payable, including any prepayment penalty which Grantor would be required to pay Express Power of Sale Provision, Upon the application or request of Lender, it shall be lawful for and the duty of the Trustee, and the Trustee is hereby authorized and empowered, to expose to sale and to sell the Property at public auction for cash, after having first complied with all applicable requirements of North Carolina law with respect to the exercise of powers of sale contained in deeds of trust or such other sates appropriate under the circumstances: and upon any such sale, the Trustee shall convey title to the purchaser in fee simple In the event of any sale under this Dead of Trust by virtue of the exercise of the DEED OF TRUST Loan No. 01 -1004034 -RNC (Continued) Page 9 powers granted in this Dead of Trust, or pursuant to any order and any judicial proceeding or otherwise, the Property may be sold as an entirety or in separate parcels and in such manner or Order as Lender in its sale discretion may elect Trustee shall be authorized to hold a sale pursuant to North Carolina General Statute Chapter 45, If Trustee so elects, Trustee may sell the Property covered by this Dead of Trust at one or more separate sales in any manner permitted by applicable North Carolina law, and any axsrcise of the powers granted in this Dead of Trust shall not extinguish or exhaust such powers, until the entire Property is sold or the Indebtedness is paid in full If such Indebtedness Is now or hereafter further secured by any chattel mortgages, pledges, contracts of guaranty, assignments of lease or other security instruments, Lender may at its option exercise the remedies granted under any of the security agreements either concurrently or independently and in such order as Lender may determine Foraclasure. With respect to all or any part of the Real Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable faw UCC Remedies. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Uniform Commercial Cada Collect Renta. Lender shs)l have the right, without notice to Grantor to take possession of and manage the Property and collect the Rents, including amounts past due and unpasd, and apply the net proceeds, over and above Lender's costs, against the Indebtedness In furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender It the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed Lender may exercise its rights under this subparagraph either in person, by agent, or through a receiver. Appoint Receiver. Lander shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the power to protect and preserve the Property, to operate the Property preceding foreclosure or sale, and to coltect the Rents from the Property and apply the proceeds. over and above the cost of the receivership, against the Indebtedness The receiver may serve without bond if permitted by law Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount Employment by Lender shall not disqualify a person from serving as a receiver, Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lander or the purchaser of the Property and shall, at Lender's option, either 11) pay a reasonable rental for the use of the Property, or (2) vacate the Property immediately upon the demand of Lender Other Remedies. Trustee or Lender shall have any other right or remedy provided in this Deed of Trust or the Note or by law Notice of Sole. Lender shall give Grantor reasonable notice of the time and place of any public sale of the Personal Property or of the time after which any private sale or other intended disposition of the Personal Property is to be made. Reasonable notice shall mean notice given at least ten (10) days before the time of the sale or disposition. Any sale of the Personal Property may be made in conjunction with any sale of the Real Property Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all rights to have the Property marshalled In exercising its rights and remedies, the Trustee or Lender shall be free to sell all or any part of the Property together or separately, in one sale or by separate sales Lender shall be entitled to bid at any public sale on all or any portion of the Property. Attorneys' Fees; Expenses If Lender institutes any suit or action to enforce any of the terms of this Deed DEED OF TRUST Loan No. 01-1004034-RNC (Continued) Page 10 of Trust, Lender shall be entitled to recover such sum as the court may adjudge reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is involved, and to the extent not prohibited by law, all reasonable expenses Lenderincurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement of its rights shall become a part of the indebtedness payable on demand and shat[ bear interest at the Note rate from the data of the expenditure until repaid Expenses covered by this paragraph include, without limitevon, however subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses, whether or not theca is a lawsuit, including attorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction!, appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports), surveyors' reports, and appraisal fees, title insurance, and fees for the Trustee, to the extent permitted by applicable law Grantor also will pay any court costs, in addition to all other sums provided by law Rights of Trustee. Trustee shall have all of the rights and duties of Lender as set forth in this section POWERS AND OBLIGATIONS OF TRUSTEE. The following provisions relating to the powers and obligations of Trustee are part of this. Deec of Trust Powers of Trustee. in addition to all powers of Trustee arising as a matter of law, Trustee shall have the Power to take the folf0wmg actions with respect to the Property upon the written request of Lender and Grantor (a) join in preparing and filing a map or plat of the heal Property, including the dedication of streets or other rights to the public; {b) join in granting any easement or creating any restriction on the Real Property, and (c) join in any subordination or other agreement affecting this Deed of Trust or the interest of Lender under this Deed of Trust. Trustee Trustee shall meet all qualifications required for Trustee under applicable law in addition to the rights and remedies set forth above, with respect to all or any part of the Property, the Trustee shall have the right to foreclose by notice and sale, and Lender shall have the right to foreclose by judicial foreclosure, in either case in accordance with and to the full extent provided by applicable law Trustee's Fees. The Trustee's commission shall be five percent (5%) of the gross proceeds of the sale for a completed foreclosure In the event foreclosure I commenced, but not completed, Grantor shall pay all expenses incurred by Trustee and partial commission computed on five percent (5%) of the outstanding Indebtedness, according to the following schedule ane-fourth of the commission before Trustee issues a notice of hearing on the right to foreclosure; one-half of the commission after issuance of notice of hearing, three-fourths of the commission after a hearing, and the full commission atter the initial sale Express Power to Substitute a Trustee Tender shall have the irrevocable right to remove at any time and From time to time without limit the Trustee named in this Deed of Trust without notice or cause and to appoint a successor by an instrument in writing, duly acknowledged, in such a form as to entitle such written instrument to be recorded in the State of North Carolina, and, in the event of the death or resignation of the Trustee named in this Deed of Trust, Lender shall have the right to appoint a successor by such written instrument, and any Trustee so appointed shall be vested with the title t0 the Property, and shall possess all the powers, duties and obligations herein conferred on the Trustee in the same manner and to the same extent as though the successor trustee were named in this Deed of Trust as Trustee NOTICES. Any notice required to be given under this Deed of Trust, including wuhout limitation Any notice of default and any notice of sale shall be given in writing, and shall be effective when actually delivered, when actually received by telefacsimile (unless otherwise required by lawy, when deposited with a nationally recognized overnight courier, or, if mailed, when deposited in the United States mail, as first class, certified or registered mail postage prepaid, directed to the addresses shown near the beginning of this Dead of Trust Any party may change its address for notices under this Deed of Trust by giving formal written notice to the other parties, specifying that the purpose of the notice is to change .he party's address For notice purposes, Grantor agrees to keep Lender informed at all times of Grantor's current address. Unless otherwise provided or required by law, if there is more than one Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors DEED OF TRUST Loan No., 01 -1004034 -RNC (Continued) Page 11 ARBITRATION. (a) This paragraph concerns the resolution of any controversies or claims between the parties, whether arising in contract, tort or by statute, including but not limited to controversies or claims that arise out of or relate to: (i) this agreement (including any renewals, extensions or modifications); or (ii) any document related to this agreement (collectively a "Claim") For the purposes of this arbitration provision only, the term "parties" shall include any parent corporation, subsidiary or affiliate of the Bank involved in the servicing, management or administration of any obligation described or evidenced by this agreement IN At the request of any party to this agreement, any Claim shall be resolved by binding arbitration in accordance with the Federal Arbitration Act (Title 9, U S Code) (the "Act") The Act will apply even though this agreement provides that it is governed by the law of a specified state. (c) Arbitration proceedings will be determined in accordance with the Act, the applicable rules and procedures for the arbitration of disputes of JAMS or any successor thereof ("JAMS"), and the terms of this paragraph In the event of any inconsistency, the terms of this paragraph shall control (d) The arbitration shall be administered by JAMS and conducted, unless otherwise required by law, in any U S state where rest or tangible personal property collateral for this credit is located or if there is no such collateral, in the state specified in the governing law section of this agreement All Claims shall be determined by one arbitrator; however, if Claims exceed 96,000,000, upon the request of any party, the Claims shall be decided by three arbitrators All arbitration hearings shall commence within 80 days of the demand for arbitration and close Within 90 days of commencement and the award Of the arbitrator(s) shall be issued within 30 days of the close of the hearing However, the arbitrator(s), upon a showing of goad Cause, may extend the commencement of the hearing for up to an additional BO days The arbitrators) shall provide a Concise written statement of reasons for the award The arWratron award may be submitted to any court having jurisdiction to be confirmed and enforced (e) The arbitrator(s) will have the authority to decide whether any Claim is barred by the statute of limitations and, if so, to dismiss the arbitration on that basis, For purposes of the application of the statute of limitations, the service on JAMS under applicable JAMS rules of a notice of Claim is the equivalent of the filing of a lawsuit Any dispute concerning this arbitration provision or whether a Claim is arbitratable shall be determined by the arbAratoris). The arbitrator(s) shall have the power to award legal fees pursuant to the terms of this agreement (f) Tors paragraph dues not limit the right of any party to (i) exercise self-help remedies, such as but not limited to, setoff; (u) initiate judicial or nonjudmial foreclosure against any real or personal property collateral, (lit) exercise any judicial or power of sale rights, or (iv) act in a court of law to obtain an interim remedy, such as but not limited to, injunctive relief, writ of Possession or appointment of a receiver, or additional or supplementary remedies (g) The filing of a court action is not intended to constitute a waiver of the right of any party, including the suing party, thereafter to require submittal of the Claim to arbitration COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Deed of Trust - Amendments. This Deed of Trust, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to the matters set forth in this Deed of Trust No alteration Of or amendment to this Dead of Trust shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment Annual Reports. If the Property is used for purposes other than Grantor's residence, Grantor shall furnish to Lender, upon request, a certified statement of net operating income received from the Property during Grantor's previous fiscal year in such form and detail as Lender shall require "Net operating income" shall DEED OF TRUST Loan No- 01-1004034-RNC (Continued) Page 12 mean all cash receipts from the Property less all cash expenditures made in connection with the operation of the Property Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or define the provisions of this Deed of Trust, Merger There shall be no merger of the interest or estate created by this Deed of Trust with any other interest or estate in the Property at any time held by or for the benefit of Lender in any capacity, without the written consent of Lender Governing Law, This Deed of Trust will be governed by, construed and enforced in accordance with federal law end the laws of the State of North Carolina. This Dead of Trust has been accepted by Lender In the State of North Carolina. Chace of Venue. If there is a lawsuit, Grantor agrees upon Lender's request to submit to the jurisdiction of the courts of any County, State of North Carolina No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in writing and signed by Lender No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right A waiver by Lender of a provision of this Dead of Trust shall not prejudice or Constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Dead of Trust, No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions Whenever the consent of Lender is required under this Deed of Trust, the granting of such consent by Lender in any instanca shall not constitute continuing consent to subsequent instances where such Consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender, Severability If a court of competent jurisdiction finds any provision of this Deed of Trust to be illegal, invalid, or unenforceable as to any circumstance, that finding shall not make the offending provision illegal, invalid, or unenforceable as to any other circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable If the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust, Unless otherwise required by law, the ellegality, invalidity, or unenforceebrlity of any provision of this Dead of Trust shall not affect the legality, validity or enforceability of any other provision of this deed of Trust. Successors and Assigns. Subject to any limitations stated in this Deed of Trust on transfer of Grantor's interest, this Deed of Trust shall be binding upon and inure to the benefit of the parties, their successors and assigns. If ownership of the Property becomes vested in a person other than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with reference to this Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Grantor from the obligations of this Deed of Trust at Lability under the Indebtedness Time is of the Essence. Time is of the essence in the performance of this Deed of Trust DEFINITIONS. The foflowrng capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require Words and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the uniform Commercial Code, Beneficiary. The word "Beneficiary" means Bank of America, N A , and its successors and assigns Borrower. The word "Borrower" means Northside Baptist Church of Wilmington, Inc , and all other persons and entities signing the Note in whatever capacity Dead of Trust The words "Dead of Trust" mean this Deed of Trust among Grantor, Lender, and Trustea, and includes without limitation all assignment and security interest provisions relating to the Personal Properly and Rents DEED OF TRUST Loan No: 01 -1004034 -RNC (Continued) Page 13 Default The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default" Environmental Laws. The words "Environmental Laws" mean any and all state, faderal and local statutes, regulations and ordinances relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U S.C. SBCLOn 9$01, at seq. CCERCLA" ), the Superfund Amendments and Reauthorization Act of 1986, Pub, L. No 99.499 ("SARA"), the Hazardous Materials Transportation Act, 49 U S.0 Section 1801, at seq„ the Resource Conservation and Recovery Act, 42 U S C. Section 6901, at seg , or other applicsble state or federal laws, rules, or regulations adopted pursuant therato Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of trust in the default section of this Deed of Trust Grantor. The word "Grantor" means Northside Baptist Church of Wilmington, Inc Guaranty The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without limitation a guaranty of all or part of the Note Hazardous Substances. The words "Hazardous Substances" mean materials that, because of their quantity, concentration or physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human health or the environment when Improperly used, treated, Stored, disposed of, generated, manufactured, transported or otherwise handfed The words "Hazardous Substances" are used in their very broadest sense and include without limitation any and all hazardous or toxic substances, materials or waste as defined by or listed under the Environmental Laws The term "Hazardous Substances" also includes, without limitation, petroleum and petroleum by-products or any fraction thereof and asbestos Improvements. The word "Improvements" means all existing and future improvements, buildings, structures, mobile homes affixed on the Real Property, facilities, additions, replacements and other construction on the Real Property. Indebtedness. The word "Indebtedness" means the indebtedness evidenced by the Note or Related Documents, including all principal and interest together with all other indebtedness and costs and expenses for which Borrower or Grantor or any other borrower, guarantor, pledgor, obligor or accommodation party is responsible under this Agreement or under any of the Related Documents, including any swap, option or forward obligations Lender The word "Lender" means Bank of America, N A., its successors and assigns Note. The word "Nate" means the promissory note dated June 24, 2403, in the original principal amount of $447,084.00 from Grantor to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement, Personal Property The words "Personal Property" mean all equipment, fixtures. and other articles of personal property now or hereafter owned by Grantor, and now or hereafter attached or affixed to the Real Property, together with all accessions, parts, and additions to, all replacements of, and all substitutions for, any of such property, and together with all proceeds lincluding without limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property, Property. The word "Property" means collectively the Real Property and the Personal Property Reel Property The words "Real Property" mean the real property, interests and rights, as further described in this Deed of Trust. Related Documents. The words "Related Documents" mean all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and all other instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness, DEED OF TRUST Loan No. 01.1004034 -RNC (Continued) Page 14 Rents The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived from the Property Truatee. The word "Trustee" means PRLAP, Inc , whose address Is PRLAP, Inc c/o 1400 Best Plaza Drive, Richmond, VA 23227 and any substitute or successor trustees GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS DEED OF TRUST, AND GRANTOR AGREES TD ITS TERMS. IN WITNESS WHEREOF GRANTOR HAS CAUSED THIS DEED OF TRYST TO BE SIGNED IN GRANTOR'S CORPORATE NAME BY GRANTOR'S DULY AUTHORIZED OFFICERS AND HAS CAUSED GRANTOR'S SEAL TO BE AFFIXED TO THIS DEED OF TRUST BY T14E AUTHORITY OF GRANTOR'S BOARD OF DIRECTORS ON THE DATE SHOWN AT THE BEGINNNING OF THIS DEED OF TRUST. THIS DEED OF TRUST IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS DEED OF TRUST IS AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. GRANTOR: NORTHSIDE BAPTIST CHURCH OF WILMINGTON, INC. Clement E. Goodson, President of Northalde Baptist Church of �f ' 4 Q Wilmington, Inc. BY —ZjAj" A Seel) Diann F. otters, Sscrotary[Traesursr olt Northside Baptist Church of Wilmington, Inc. ATTEST: _ y S�scr�et�ar or Assistant Secretary I Corporate Seal 1 DEED OF TRUST Loan No. 01 -1004034 -RNC (Continued) Pepe 15 STATE OF Dlor.'th Carolina COUNTY OF Uew Hanover CORPORATE ACKNOWLEDGMENT 1 ) SS 1 cea Notary Public for said County and State, crtify that _ � f, C, — personally came before me this day and acknowledged that he or she is _ Secretary of Northside Baptist Church of Wilmington, Inc., a corporation and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its name by its President; Secretary/Treasurer of Northside Baptist Church of Wilmington, Inc., respectively sealed with its corporate seal, and attested by himself or herself as its Secretary Witness my hand and Notarial Seal this the 24 day of June _ , 2003 ry Public My Commission Expires.'t*3 Affix Notarial Seal Here) �' EXHIBIT "e" to Deed of Trust from Northside Baptist Church of Wilmington, Inc, to PRLAP, Inc., Trustee for Bank of America, KA First Tri BEING ALL of that certain tract or parcel of land containing 2 465 acres, more or less and being more particularly described in the Deed to Northside Baptist Church of Wilmington, Inc recorded in Book 2810 at Page 0072 of the New Hanover County Registry, reference to which is hereby made for a more Particular description 5acond TrTract Located in Cape Fear Township, New Hanover County, North Carolina and Beginning at a exfstmg iron pipe in the eastern right of way line of Owls lane (60 foot public right of way) as rt is recorded in Map Book 34 at Page 66 in orth 14 degrees 42 minutes West - 394 38 feet from the point of intersection of the the New Hanover County Registry, said existing iron pipe is located N eastern right of way line of Owls Lana and the northern right of Way line of Bavarian Lane (SR #1322 - 60 foot public right of way) Running thence, from the said point of beginning and with the eastern right of way line of Owls Lane, North 14 degrees 42 minutes West - 268,8 feet to an existing iron pipe, thanoe, North 75 degrees 18 Minutes East - T24.80 teat to an existing iron Pipe, thence, North 14 degrees 42 minutes West - 120 40 feet to an existing iron pipe: thence, North 75 degrees 18 minutes East - 25 20 feet to an existing iron pipe, thence, North 14 degrees 42 minutes West - 200 00 feet to an existing iron pipe; thence, North 76 degrees 18 minutes East - 270 00 feet to an existing iron pipe in the western right of way line of NC highway #132 (200 foot public right of ways, thence, with the western right of way line of NC Highway #132, South 14 degrees 42 minutes East - 595 20 feet to an existing Iron Pipe; thence, South 75 degrees 18 minutes West - 200 00 feet to an existing iron pipe, thence, North 14 degrees 42 minutes West • 6 00 feet to an existing iron Plpe, thence, South 75 degrees 1$ minutes West - 220 00 feet to the point of begrnnmg, containing 4,67 acres more or less and being those tracts of land recorded in Book 590 at page 531, gook 847 at Page 256, Book 802 at Page 341, Book 899 at Page 915, gook 950 at Page 646, Book 1095 at Page 68, and Rook 1473 at Page 908 in the New Hanover County Registry The First and Second Tracts are subfact to a right-of-way and easement for certain utilities recorded in Book 2810 at Page 0082 of the New Hanover County Registry,