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U 74 <br />(a) declare the entire amount of the principal component of the Installment Payments and <br />the accrued and unpaid interest component to the date of declaration to be immediately due and <br />payable; <br />(b) exercise all remedies available at law or in equity or under the Deed of Trust, <br />including sale of the Mortgaged Property, and apply the proceeds of any such sale or other <br />disposition, after deducting all costs and expenses, including court costs and reasonable <br />attorneys' fees incurred with the recovery, repair, storage and other sale or other disposition <br />costs, toward the principal component and accrued and unpaid interest of the balance of <br />Installment Payments due; and <br />(c) subject to the Enforcement Limitation, proceed by appropriate court action to enforce <br />performance by the Purchaser of the applicable covenants of this Agreement or to recover for the <br />breach thereof. <br />NOTWITHSTANDING ANY OTHER PROVISIONS HEREIN, IT IS THE <br />INTENT OF THE PARTIES HERETO TO COMPLY WITH SECTION 160A -20 OF THE <br />GENERAL STATUTES OF NORTH CAROLINA, AS AMENDED. NO DEFICIENCY <br />JUDGMENT MAY BE ENTERED AGAINST THE PURCHASER IN FAVOR OF THE <br />SELLER OR ANY OTHER PERSON IN VIOLATION OF SAID SECTION 160A -20, <br />INCLUDING, WITHOUT LIMITATION, ANY DEFICIENCY JUDGMENT FOR <br />AMOUNTS THAT MAY BE OWED HEREUNDER WHEN THE SALE OF ALL OR <br />ANY PORTION OF THE MORTGAGED PROPERTY IS INSUFFICIENT TO <br />PRODUCE ENOUGH MONEYS TO PAY IN FULL ALL REMAINING OBLIGATIONS <br />HEREUNDER. <br />SECTION 9.3. No Remedv Exclusive No remedy conferred herein upon or reserved <br />to the Seller is intended to be exclusive, and every such remedy shall be cumulative and shall be <br />in addition to every other remedy given hereunder or now or hereafter existing at law or in <br />equity. To the extent permitted by law, any delay or omission to exercise any right or power <br />accruing upon any default shall not impair any such right or power nor shall be construed to be a <br />waiver thereof, but any such right and power may be exercised from time to time and as often as <br />may be deemed expedient. In order to entitle the Seller to exercise any remedy reserved to it in <br />this Article, it shall not be necessary to give any notice other than such notice as may be required <br />in this Article or by law. <br />SECTION 9.4. Agreement to Pay Attornevs' Fees and Expenses In the event the <br />Purchaser should default under any of the provisions hereof and the Seller should employ <br />attorneys or incur other expenses for the collection of moneys or the enforcement of performance <br />or observance of any obligation or agreement on the part of the Purchaser contained herein, the <br />Purchaser agrees that it will pay on demand to the Seller, subject to the limitations and <br />provisions of Section 6 -21.2 of the General Statutes of North Carolina, as amended, the <br />reasonable fees of such attorneys and such other expenses so incurred by the Seller. For <br />purposes of this Section, the reasonable fees of attorneys shall mean attorneys' fees actually <br />incurred at such attorneys' standard hourly rate for such services and shall not be based on any <br />percentage of the outstanding amount due; provided, however that such attorneys' fees shall not <br />exceed the maximum amount permitted by law. <br />17 <br />