In Re Foreclosure of a Deed of Trust Given by Taylor

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 may institute foreclosure proceedings upon the security property. In re Foreclosure of Bonder, 306 N.C. 451, 293 S.E. 2d 798 (1982) (residential property); Crockett v. Savings & Loan…