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200407276 Loan ID # 34204118NH Borrower will not create, assume, or suffer to exist in respect of the subject Property, or any part thereof, any security instrument held by a party other than the Lender unless the Borrower, prior to the time such security instrument becomes a lien on the Property or any part thereof, shall have delivered to Lender an executed copy of such security instrument which shall provide that such security instrument is junior in lien and subordinate to the lien of the Security Instrument for the full amount of the Note and any other sums secured hereby. Borrower, for itself and for all future owners of the subject Property, agrees that the Security Instrument and this Construction Rider to Security Instrument may be modified, varied, extended, renewed or reinstated at any time by agreement between the holder of the Security Instrument and the Borrower or its successor in interest on the subject Property, without notice to, or the consent of, any subordinate lienor, and any such modification, variance, extension, renewal or reinstatement shall be binding upon such subordinate lienor with the same force and effect as if said subordinate lienor had affirmatively consented thereto. This clause shall be self - operative, and no further instrument of subordination shall be required from any subordinate lienor. If the Borrower fails to make any payment or to do any act as and in the manner provided for in the Security Instrument, the Note, or the Construction Loan Agreement, the Lender, in its sole discretion, without obligation to do so and without notice to or demand upon Borrower and without releasing Borrower from any obligation, may make or do the same in such manner and to such extent as the Lender may deem necessary to protect the security hereof. Borrower agrees to pay upon demand all expenses incurred or paid by the Lender (including, but not limited to, attorneys' fees and court costs) incurred in the exercise of any of the aforesaid rights or privileges or on account of any litigation which may arise in connection with this Security Instrument or the Note on or account of any attempt, without litigation, to enforce the terms of the Security Instrument, the Note or the other Loan documents. In the event the Property or any part thereof shall be advertised for foreclosure sale and same is not sold, Borrower shall pay all costs in connection therewith. In the event that the Lender is called upon to pay any sums of money to protect the Security Instrument and the Note secured thereby, all monies advanced or due thereunder shall become immediately due and payable, together with interest at the rate stated in the Note or Construction Rider to Note executed on even date herewith, and as extended, amended and renewed from time to time, computed from the date of such advance to the date of the actual receipt of payment by the Lender. Borrower hereby grants to Lender a security interest in the Personal Property located on or at the Property, including without limitation any and all property of similar type or kind hereafter located on or at the Property for the purpose of securing all obligations of Borrower set forth in the Security Instrument. If the lien of the Security Instrument is invalid or unenforceable as to any part of the debt, or if the lien is invalid or unenforceable as to any part of the subject Property, the unsecured portion of the debt shall be completely paid prior to the payment of the secured debt, and all payments made on the debt, whether voluntary or otherwise, shall be considered to have been first paid on and applied to the full payment of that portion of the debt which is not secured or fully secured by the lien of the Security Instrument. By signing below, Borrower accepts and agrees to the terms and provisions contained in this Construction Rider to Security Instrument. Witnesses: (Seal) LORA M. FINDLEY - Borrower (Seal) - Borrower (Seal) - Borrower 1 (Seal) J�" D . FINDLFY - Borrower � 1:��' 0, � , c (Seal) SHARON J DFWFFSF - Borrower (Seal) - Borrower AAM2 - 08142001 Page 2 of 3 www.MortgageBankingSystems.com