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IN RE FORECLOSURE OF A DEED OF TRUST, ETC.

No. 811SC1309.

298 S.E.2d 163 (1982)

In re FORECLOSURE OF A DEED OF TRUST GIVEN BY Bill M. TAYLOR and Wife, Linda B. Taylor to J. Kenyon Wilson, Jr., Trustee Dated June 4, 1976, Recorded in Book 372, Page 186, Pasquotank County Registry, By G. Elvin Small, III, Substitute Trustee.

Court of Appeals of North Carolina.

December 21, 1982.

Attorney(s) appearing for the Case

Wilson & Ellis by M.H. Hood Ellis and David W. Boone, Elizabeth City, for petitioner-appellee.

LeRoy, Wells, Shaw, Hornthal & Riley by Mark M. Maland, Elizabeth City, for respondents-appellants.

Brooks, Pierce, McLendon, Humphrey & Leonard by L.P. McLendon, Jr., Edward C. Winslow, III, and Randall A. Underwood, Greensboro, for North Carolina Sav. and Loan League, amicus curiae.

WHICHARD, Judge.

I.

Where the language of a promissory note and deed of trust clearly bestows such a right, a savings and loan may demand full and present payment of the balance of a loan, secured by a deed of trust upon real property, if the borrowers breach their covenant not to convey the security property without the lender's consent; and if the borrowers fail to comply with the demand for payment, the lender...

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