NCC190494_NOT Supporting Documents_20191107

BKO17629PGO2136
NORTH CAROLINA DEED OF TRUST
SATISFACTION: The debt secured by the within Deed of Trust
together with the note(s) secured thereby has been satisfied in full.
This the day of 20
Signed:
Parcel Identifier N
By:
Verified by
Mail/Box to: Stancil Vineyards, LLC, 466 Stancil Road, Angier, NC 27501
WAKE COUNTY, NC
CHARLES P. GILLIAM
REGISTER OF DEEDS
PRESENTED & RECORDED ON
10-29-2019 AT 12:00:01
BOOK: 017629 PAGE: 02136 - 02139
County on the day of
This instrument was prepared by: Pope & Pope, Attorneys at Law, P.A.. PO Box 790, Angier NC 27501
Brief description for the Index: Tr. 1. 36.356 ac. +/-, BM 2019-1419
THIS DEED of TRUST made this 29' day of October, 2019, by and between:
GRANTOR
Ponderosa Group, LLC
A North Carolina Limited Liability
Company
4820 Boulder Creek Lane
Raleigh, NC 27613
MM31111:3 1
Currie Tee Howell
728 N. Raleigh St.
Suite B-1
Angier, NC 27501
BENEFICIARY
Stancil Vineyards, LLC
20_
A North Carolina Limited Liability
Company
466 Stancil Road
Angier, NC 27501
Enter in appropriate block for each party: name, address, and, if appropriate, character of entity, e.g. corporation or partnership.
The designation Grantor, 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.
WITNESSETH, That whereas the Grantor is indebted to the Beneficiary in the principal sum of One Million One Hundred Twenty -
One Thousand Seventy -Nine and 30/100 Dollars ($1,121,079.30), as evidenced by a Promissory Note of even date herewith, the
NC Bar Association Form No. 5 Q 1976, Revised © September 1985, 2002
Printed by Agreement with the NC Bar Association - 1981
submitted electronically by "Pope & Pope, Attorneys at Law, P.A."
in compliance with North Carolina statutes governing recordable documents
and the terms of the submitter agreement with the wake county Register of Deeds.

BKO17629PGO2137
terms of which are incorporated herein by reference. The final due date for payments of said Promissory Note, if not sooner paid, is
ON DEMAND.
NOW, THEREFORE, as security for said indebtedness, advancements and other sums expended by Beneficiary pursuant to this
Deed of Trust and costs of collection (including attorneys fees as provided in the Promissory Note) and other valuable consideration,
the receipt of which is hereby acknowledged, the Grantor has bargained, sold, given and conveyed and does by these presents bargain,
sell, give, grant and convey to said Trustee, his heirs, or successors, and assigns, the parcel(s) of land situated in the City of
, Middle Creek Township, Wake County, North Carolina, (the "Premises") and more particularly
described as follows:
REID 0469512
BEING all of Tract 1, containing 36.356 acres, more or less, as shown on that map entitled, "Exempt Subdivision Plat for
Ponderosa Group, LLC" and as recorded in Book of Maps 2019-1419, Wake County Registry.
TO HAVE AND TO HOLD said Premises with all privileges and appurtenances thereunto belonging, to said Trustee, his heirs,
successors, and assigns forever, upon the trusts, terms and conditions, and for the uses hereinafter set forth.
If the Grantor shall pay the Note secured hereby in accordance with its terms, together with interest thereon, and any renewals or
extensions thereof in whole or in part, all other sums secured hereby and shall comply with all of the covenants, terms and
conditions of this Deed of Trust, then this conveyance shall be null and void and may be canceled of record at the request and the
expense of the Grantor.
If, however, there shall be any default (a) in the payment of any sums due under the Note, this Deed of Trust or any other
instrument securing the Note and such default is not cured within ten (10) days from the due date, or (b) if there shall be default in
any of the other covenants, terms or conditions of the Note secured hereby, or any failure or neglect to comply with the covenants,
terms or conditions contained in this Deed of Trust or any other instrument securing the Note and such default is not cured within
fifteen (15) days after written notice, then and in any of such events, without further notice, it shall be lawful for and the duty of the
Trustee, upon request of the Beneficiary, to sell the land herein conveyed at public auction for cash, after having first giving such
notice of hearing as to commencement of foreclosure proceedings and obtained such findings or leave of court as may then be
required by law and giving such notice and advertising the time and place of such sale in such manner as may then be provided by
law, and upon such and any resales and upon compliance with the law then relating to foreclosure proceedings under power of sale
to convey title to the purchaser in as full and ample manner as the Trustee is empowered. The Trustee shall be authorized to retain
an attorney to represent him in such proceedings.
The proceeds of the Sale shall after the Trustee retains his commission, together with reasonable attorneys fees incurred by the
Trustee in such proceedings, be applied to the costs of sale, including, but not limited to, costs of collection, taxes, assessments,
costs of recording, service fees and incidental expenditures, the amount due on the Note hereby secured and advancements and other
sums expended by the Beneficiary according to the provisions hereof and otherwise as required by the then existing law relating to
foreclosures. The Trustee's commission shall be five percent (5%) of the gross proceeds of the sale or the minimum sum of
$1500.00, whichever is greater, for a completed foreclosure. In the event foreclosure is commenced, but not completed, the Grantor
shall pay all expenses incurred by Trustee, including reasonable attorneys fees, and a partial commission computed on five per cent
(5%) of the outstanding indebtedness or the above stated minimum sum, whichever is greater, in accordance with the following
schedule, to -wit: one-fourth ('/4) thereof before the Trustee issues a notice of hearing on the right to foreclosure; one-half ('h) thereof
after issuance of said notice, three -fourths (1/4) thereof after such hearing; and the greater of the full commission or minimum sum
after the initial sale.
And the said Grantor does hereby covenant and agree with the Trustee as follows:
1. INSURANCE. Grantor shall keep all improvements on said land, now or hereafter erected, constantly insured for the benefit
of the Beneficiary against loss by fire, windstorm and such other casualties and contingencies, in such manner and in such
companies and for such amounts, not less than that amount necessary to pay the sum secured by this Deed of Trust, and as may be
satisfactory to the Beneficiary. Grantor shall purchase such insurance, pay all premiums therefor, and shall deliver to Beneficiary
such policies along with evidence of premium payments as long as the Note secured hereby remains unpaid. If Grantor fails to
purchase such insurance, pay premiums therefor or deliver said policies along with evidence of payment of premiums thereon, then
Beneficiary, at his option, may purchase such insurance. Such amounts paid by Beneficiary shall be added to the principal of the
Note secured by this Deed of Trust, and shall be due and payable upon demand of Beneficiary. All proceeds from any insurance so
maintained shall at the option of Beneficiary be applied to the debt secured hereby and if payable in installments, applied in the
inverse order of maturity of such installments or to the repair or reconstruction of any improvements located upon the Property.
2. TAXES, ASSESSMENTS, CHARGES. Grantor shall pay all taxes, assessments and charges as may be lawfully levied
against said Premises within thirty (30) days after the same shall become due. In the event that Grantor fails to so pay all taxes,
assessments and charges as herein required, then Beneficiary, at his option, may pay the same and the amounts so paid shall be
added to the principal of the Note secured by this Deed of Trust, and shall be due and payable upon demand of Beneficiary.
3. ASSIGNMENTS OF RENTS AND PROFITS. Grantor assigns to Beneficiary, in the event of default, all rents and profits
from the land and any improvements thereon, and authorizes Beneficiary to enter upon and take possession of such land and
improvements, to rent same, at any reasonable rate of rent determined by Beneficiary, and after deducting from any such rents the
cost of reletting and collection, to apply the remainder to the debt secured hereby.
NC Bar Association Form No. 5 © 1976, Revised Q September 1985, 2002
Printed by Agreement with the NC Bar Association - 1981

BKO17629PGO2138
4. PARTIAL RELEASE. Grantor shall not be entitled to the partial release of any of the above described property unless a
specific provision providing therefor is included in this Deed of Trust. In the event a partial release provision is included in this
Deed of Trust, Grantor must strictly comply with the terms thereof. Notwithstanding anything herein contained, Grantor shall not be
entitled to any release of property unless Grantor is not in default and is in full compliance with all of the terms and provisions of the
Note, this Deed of Trust, and any other instrument that may be securing said Note.
5. WASTE. The Grantor covenants that he will keep the Premises herein conveyed in as good order, repair and condition as they
are now, reasonable wear and tear excepted, and will comply with all governmental requirements respecting the Premises or their
use, and that he will not commit or permit any waste.
6. CONDEMNATION. In the event that any or all of the Premises shall be condemned and taken under the power of eminent
domain, Grantor shall give immediate written notice to Beneficiary and Beneficiary shall have the right to receive and collect all
damages awarded by reason of such taking, and the right to such damages hereby is assigned to Beneficiary who shall have the
discretion to apply the amount so received, or any part thereof, to the indebtedness due hereunder and if payable in installments,
applied in the inverse order of maturity of such installments, or to any alteration, repair or restoration of the Premises by Grantor.
7. WARRANTIES. Grantor covenants with Trustee and Beneficiary that he 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 he will warrant and defend
the title against the lawful claims of all persons whomsoever, except for the exceptions hereinafter stated. Title to the property
hereinabove described is subject to the following exceptions:
8. SUBSTITUTION OF TRUSTEE. Grantor and Trustee covenant and agree to and with Beneficiary that in case the said
Trustee, or any successor trustee, shall die, become incapable of acting, renounce his trust, or for any reason the holder of the Note
desires to replace said Trustee, then the holder may appoint, in writing, a trustee to take the place of the Trustee; and upon the
robate and registration of the same, the trustee thus appointed shall succeed to all rights, powers and duties of the Trustee.
X THE FOLLOWING PARAGRAPH, 9. SALE OF PREMISES, SHALL NOT APPLY UNLESS THE BLOCK
TO THE LEFT MARGIN OF THIS SENTENCE IS MARKED AND/OR INITIALED.
9. SALE OF PREMISES. Grantor agrees that if the Premises or any part thereof or interest therein is sold, assigned, transferred,
conveyed or otherwise alienated by Grantor, whether voluntarily or involuntarily or by operation of law [other than: (i) the creation
of a lien or other encumbrance subordinate to this Deed of Trust which does not relate to a transfer of rights of occupancy in the
Premises; (ii) the creation of a purchase money security interest for household appliances; (iii) a transfer by devise, descent, or
operation of law on the death of a joint tenant or tenant by the entirety; (iv) the grant of a leasehold interest of three (3) years or less
not containing an option to purchase; (v) a transfer to a relative resulting from the death of a Grantor; (vi) a transfer where the
spouse or children of the Grantor become the owner of the Premises; (vii) a transfer resulting from a decree of a dissolution of
marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the Grantor
becomes an owner of the Premises; (viii) a transfer into an inter vivos trust in which the Grantor is and remains a beneficiary and
which does not relate to a transfer of rights of occupancy in the Premises], without the prior written consent of Beneficiary,
Beneficiary, at its own option, may declare the Note secured hereby and all other obligations hereunder to be forthwith due and
payable. Any change in the legal or equitable title of the Premises or in the beneficial ownership of the Premises, including the sale,
conveyance or disposition of a majority interest in the Grantor if a corporation or partnership, whether or not of record and whether
or not for consideration, shall be deemed to be the transfer of an interest in the Premises.
10. ADVANCEMENTS. If Grantor shall fail to perform any of the covenants or obligations contained herein or in any other
instrument given as additional security for the Note secured hereby, the Beneficiary may, but without obligation, make advances to
perform such covenants or obligations, and all such sums so advanced shall be added to the principal sum, shall bear interest at the
rate provided in the Note secured hereby for sums due after default and shall be due from Grantor on demand of the Beneficiary. No
advancement or anything contained in this paragraph shall constitute a waiver by Beneficiary or prevent such failure to perform
from constituting an event of default.
11. INDEMNITY. If any suit or proceeding be brought against the Trustee or Beneficiary or if any suit or proceeding be brought
which may affect the value or title of the Premises, Grantor shall defend, indemnify and hold harmless and on demand reimburse
Trustee or Beneficiary from any loss, cost, damage or expense and any sums expended by Trustee or Beneficiary shall bear interest
as provided in the Note secured hereby for sums due after default and shall be due and payable on demand.
12. WAIVERS. Grantor waives all rights to require marshaling of assets by the Trustee or Beneficiary. No delay or omission of
the Trustee or Beneficiary in the exercise of any right, power or remedy arising under the Note or this Deed of Trust shall be deemed
a waiver of any default or acquiescence therein or shall impair or waive the exercise of such right, power or remedy by Trustee or
Beneficiary at any other time.
13. CIVIL ACTION. In the event that the Trustee is named as a parry to any civil action as Trustee in this Deed of Trust, the
Trustee shall be entitled to employ an attorney at law, including himself if he is a licensed attorney, to represent him in said action
and the reasonable attorney's fee of the Trustee in such action shall be paid by the Beneficiary and added to the principal of the Note
secured by this Deed of Trust and bear interest at the rate provided in the Note for sums due after default.
14. PRIOR LIENS. Default under the terms of any instrument secured by a lien to which this Deed of Trust is subordinate shall
constitute default hereunder.
15.OTHER TERMS. THIS IS A PURCHASE MONEYDEED OF TRUST.
NC Bar Association Form No. 5 © 1976, Revised © September 1985, 2002
Printed by Agreement with the NC Bar Association - 1981

BKO17629PGO2139
IN WITNESS WHEREOF, the Grantor has duly executed the foregoing as of the day and year first above written.
Ponderosa Group,
LLC
�A )J/-
(Entity Name)
A-
By:
Will'PuWderbur ,
ember/Manager
By:
Robert Jackson, M m er/Manager
By:
Title:
State of North Carolina - County of
I, the undersigned Notary Public of the County and State aforesaid, certify that
personally appeared
acknowledged the due execution of the foregoing instrument for the purposes therein expressed
stamp or seal this day of 20 .
My Commission Expires:
Notary Public
State of North Carolina - County of Harnett
(SEAL)
(SEAL)
SEAL)
before me this day and
Witness my hand and Notarial
I, the undersigned Notary Public of the County and State aforesaid, certify that Will Funderburk and Robert Jackson
personally came before me this day and acknowledged that they are the Member/Managers of Ponderosa Group, LLC a North
Carolina limited liability company, and that by authority duly given and as the act of such entity, they signed the foregoing
instrument in its name on its behalf as its act and deed. Witness my hand and Notarial stamp or seal, this 291 day of October,
2019.
My Commission Expires: - Z —20
Nctio Public -North C,aroll" Nota�y Public
County of Harnett l
State of North Carolina - County of
I, the undersigned Notary Public of the County and State aforesaid, certify that
Witness my hand and Notarial stamp or seal, this day of
My Commission Expires:
20_
Notary Public
The foregoing Certificate(s) of
is/are certified to be correct. 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
By
NC Bar Association Form No. 5 © 1976, Revised © September 1985, 2002
Printed by Agreement with the NC Bar Association - 1981
County
Deputy/Assistant - Register of Deeds