§ 45-71 – Satisfaction of the security instrument.
45-71. Satisfaction of the security instrument. Upon payment of all the obligations secured by a security instrument which conforms to the requirements of this Article and upon termination of all obligation to make advances, and upon written demand made by the maker of the security instrument, his successor in interest, or anyone claiming under him, […]
§ 45-72 – Termination of future optional advances.
45-72. Termination of future optional advances. (a) The holder of a security instrument conforming to the provisions of this Article shall, at the request of the maker of the security instrument or his successor in title promptly furnish to him a statement duly executed and acknowledged in such form as to meet the requirements for […]
§ 45-73 – Cancellation of record; presentation of notes described in security instrument sufficient.
45-73. Cancellation of record; presentation of notes described in security instrument sufficient. The provisions of G.S. 45-37 apply to discharge of record of instruments executed under this Article. (1969, c. 736, s. 1; 2011-246, s. 6.)
§ 45-74 – Article not exclusive.
45-74. Article not exclusive. The provisions of this Article shall not be deemed exclusive. Nothing in this Article shall invalidate or overrule any rule of validity or priority applicable to any security instrument failing to comply with the provisions of this Article. (1969, c. 736, s. 1; 2011-312, s. 19.)
§ 45-70 – Priority of security instrument.
45-70. Priority of security instrument. (a) Subject to subsections (a1), (c), and (d) of this section, any security instrument that conforms to the requirements of this Article shall, from the time and date of registration thereof, have the same priority to the extent of all future advances and future obligations secured by it, and all […]
§ 45-67 – Definitions.
45-67. Definitions. The following definitions apply in this Article: (1) Advance. – A disbursement of funds or other action that increases the outstanding principal balance owing on an obligation for the payment of money. (2) Security instrument. – A mortgage, deed of trust, or other instrument relating to real property securing an obligation or obligations […]
§ 45-68 – Requirements.
45-68. Requirements. A security instrument, otherwise valid, shall secure the following so as to give priority as provided in G.S. 45-70: (1) Recodified as subdivision (1b). (1a) Existing obligations that are specifically or generally identified, described, or referenced in the security instrument as being secured thereby, and all advances made at or prior to the […]
§ 45-69 – Fluctuation of obligations within maximum amount.
45-69. Fluctuation of obligations within maximum amount. Unless the security instrument provides to the contrary, if the maximum amount secured by the security instrument has not been advanced or if any obligation secured thereby is paid or is reduced by partial payment, further advances may be made and additional obligations secured by the security instrument […]