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<br />property of Lender. All abstracts of title, title insurance, tax histories, surveys, and other documents pertaining to
<br />the Indebtedness will remain in Lender's possession until the Indebtedness is paid in full.
<br />IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSURE OF
<br />A SECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS, THE
<br />LENDER SHALL PROVIDE ALL STATUTORILY REQUIRED NOTICES OF SALE AND NOTICES OF
<br />JUDICIAL HEARINGS BEFORE LENDER EXERCISES ANY OF ITS RIGHTS UNDER THIS
<br />INSTRUMENT.
<br />Upon the occurrence of an Event of Default, Lender may, without notice unless required by law, and at its option,
<br />declare the entire Indebtedness due and payable, as it may elect, regardless of the date or dates of maturity thereof
<br />and, if permitted by state law, is authorized and empowered to cause the Property to be sold at public auction, and
<br />to execute and deliver to the purchaser or purchasers at such sale any deeds of conveyance good and sufficient at
<br />law, pursuant to the statute in such case made and provided. The Trustee shall apply the proceeds of the Trustee's
<br />sale, first, to the costs and expenses of exercising the power of sale and of the sale, including the payment of the
<br />Trustee's fees actually incurred; second, to payment of the obligation secured by the trust deed; third, to the
<br />payment of junior trust deeds, mortgages, or other lienholders and the balance, if any, to the person or persons
<br />legally entitled thereto. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the
<br />statements made in it. If Lender chooses to invoke the power of sale, Lender or Trustee will provide notice of sale
<br />pursuant to applicable law. Any such sale or a sale made pursuant to a judgment or a decree for the foreclosure
<br />hereof may, at the option of Lender, be made en masse. The commencement of proceedings to foreclose this
<br />Security Instrument in any manner authorized by law shall be deemed as exercise of the above option.
<br />Upon the occurrence of an Event of Default, Lender shall immediately be entitled to make application for and
<br />obtain the appointment of a receiver for the Property and of the earnings, income, issue and profits of it, with the
<br />powers as the court making the appointments confers. Grantor hereby irrevocably consents to such appointment
<br />and waives notice of any application therefor.
<br />NO WAIVER. No delay or failure of Lender to exercise any right, remedy, power or privilege hereunder shall
<br />affect that right, remedy, power or privilege nor shall any single or partial exercise thereof preclude the exercise
<br />of any right, remedy, power or privilege. No Lender delay or failure to demand strict adherence to the terms of
<br />this Security Instrument shall be deemed to constitute a course of conduct inconsistent with Lender's right at any
<br />time, before or after an event of default, to demand strict adherence to the terms of this Security Instrument and
<br />the Related Documents.
<br />SUBSTITUTE TRUSTEE. Lender, at its option, may from time to time remove Trustee and appoint a successor
<br />trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security
<br />Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title,
<br />power and duties conferred upon Trustee herein and by applicable law.
<br />JOINT AND SEVERAL LIABILITY. If this Security Instrument should be signed by more than one person, all
<br />persons executing this Security Instrument agree that they shall be jointly and severally bound, where permitted
<br />by law.
<br />SURVIVAL. Lender's rights in this Security Instrument will continue in its successors and assigns. This Security
<br />Instrument is binding on all heirs, executors, administrators, assigns and successors of Grantor.
<br />NOTICES AND WAIVER OF NOTICE. Unless otherwise required by applicable law, any notice or demand
<br />given by Lender to any party is considered effective: (i) when it is deposited in the United States Mail with the
<br />appropriate postage; (ii) when it is sent via electronic mail; (iii) when it is sent via facsimile; (iv) when it is
<br />deposited with a nationally recognized overnight courier service; (v) on the day of personal delivery; or (vi) any
<br />other commercially reasonable means. A copy of any notice shall be sent to each party at the address of the party
<br />given at the beginning of this Security Instrument unless an alternative address has been provided to Lender in
<br />writing. To the extent permitted by law, Grantor waives notice of Lender's acceptance of this Security Instrument,
<br />defenses based on suretyship, any defense arising from any election by Lender under the United States
<br />Bankruptcy Code, Uniform Commercial Code, as enacted in the state where Lender is located or other applicable
<br />C 2004 -2013 Compliance Systems, Inc. 26c0947f -c4bl 1 9b0 -
<br />2013L2.0.E1.647
<br />Commercial Real Estate Security Instrument - DL4007 Page 5 of 7 www.compliancesystems.com
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