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2Q�20�264 12. EVENTS OF DEFAULT. Any of the following events shall be deemed an event of default hexeunder: (a) Trustox shall have failed to make payment of any insta,llment of interest, principal, or principal and intexest or any other sum secured hexeby when due; or nonpayment of real esta.te taxes and insurance (if appropriate) when due, (b) Thexe has occurYed a breach of oY default under any term, covenant, agreement, condition, provision, representa.tion ox warranty contained in any of the Loan Instru.ments. 13. ACCELERATION; REMEDIES. Beneficiary shall give notice of default to TrustoY prior to acceleration following Trustox's breach of an� covenant or agYeement in this Deed of Trust. The notice shall specify: (a) the default; (b) the action xequired to cure the default; (c) a date, not less than 30 days from the date the notice is given to Trustox, bp which the default must be cuxed; and (d) that failure to cuxe the default on or before the date specified in the notice may result in acceleration of the sums se�ured by this Security Instrument and sale of the Pxoperty. The notice shall fizrther inform Trustor of the right to reinsta.te after acceleration and the right to bring a court action to assert the non-existence of a default oY any other defense of Trustox to acceleration and sale. If the default is not cured on or before the date specified in the notice, Beneficiary at its option ma.y requite immediate payment in full of all sums secured by this Security Instrument Trustor shall be entided to collect all expenses incurred in putsuing the xemedies pxovided in this paragraph 13, including, but not limited to, reasona.ble attorney's fees and cost of title evidence. If powex of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall ma.il copies of such notice in the form required by applicable law. Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Trustor, shall sell the Property at public auction to the highest bidder at the time and pla.ce and under the texms designated in the notice of sale in one or more paxcels and in any order Trustee determines. Trustee map postpone sale of all or any pa.tcel of Property by public announcement at the time and place of any previously scheduled sale. Beneficiary or its designee ma.y purchase the Property at any sa1e. Upon receipt of payment of the price bid, Tnzstee shall delivex to the� purchaser Trustee's deed conveying the PYOperty. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following ordex: (a) to all expenses of the sale, including, but not limited to, Trustee's fees as permitted by applicable la.w and xeasonable attorney's fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the person ox persons legally entitled to it. 14. BENEFICIARY IN POSSESSION. Upon acceleration under paragraph 13 or abandonment of the Property, Beneficiary (in pexson, by agent or by judicially appointed xeceivex) shall be entided to entier upon, take possession of and manage the Property and to collect the rents of the Property including those past due. Any rents collected by Beneficiaxy or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited� to, xeceivex's ,fees, premiums on xeceivex's bonds and Yeasona.ble attorney's fees, and then to the sunis secuxed by this Secuxity Insmxment. 15. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of them, shall be entided to enforce payment and performance of any indebtedness or obligations secured hereby and ��