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<br />Initials
<br />201400564
<br />surveys. The amounts paid for any such purposes will be added to the Indebtedness and will bear interest
<br />at the rate of interest otherwise accruing on the Indebtedness until paid. In the event of foreclosure, the
<br />abstracts of title or title insurance shall become the property of Lender. All abstracts of title, title insurance,
<br />tax histories, surveys, and other documents pertaining to the Indebtedness will remain in Lender's
<br />possession until the Indebtedness is paid in full.
<br />IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR
<br />FORECLOSURE OF A SECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY
<br />APPLICABLE LAW, OR IN THE EVENT LENDER EXERCISES ITS RIGHTS UNDER THE
<br />ASSIGNMENT OF LEASES AND RENTS, THE LENDER SHALL PROVIDE ALL STATUTORILY
<br />REQUIRED NOTICES OF SALE AND NOTICES OF JUDICIAL HEARINGS BEFORE LENDER
<br />EXERCISES ANY OF ITS RIGHTS UNDER THIS INSTRUMENT.
<br />Upon the occurrence of an Event of Default, Lender may, without notice unless required by law, and at its
<br />option, declare the entire Indebtedness due and payable, as it may elect, regardless of the date or dates of
<br />maturity thereof and, if permitted by state law, is authorized and empowered to cause the Property to be
<br />sold at public auction, and to execute and deliver to the purchaser or purchasers at such sale any deeds of
<br />conveyance good and sufficient at law, pursuant to the statue in such case made and provided. The Trustee
<br />shall apply the proceeds of the Trustee's sale, first, to the costs and expenses of exercising the power of sale
<br />and of the sale, including the payment of the Trustee's fees actually incurred; second, to payment of the
<br />obligation secured by the trust deed; third, to the payment of junior trust deeds, mortgages, or other
<br />lienholders and the balance, if any, to the person or persons legally entitled thereto. The recitals in the
<br />Trustee's deed shall be prima facie evidence of the truth of the statements made in it. If Lender chooses to
<br />invoke the power of sale, Lender or Trustee will provide notice of sale pursuant to applicable law. Any
<br />such sale or a sale made pursuant to a judgment or a decree for the foreclosure hereof may, at the option of
<br />Lender, be made en masse. The commencement of proceedings to foreclose this Security Instrument in any
<br />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
<br />and obtain the appointment of a receiver for the Property and of the earnings, income, issue and profits of
<br />it, with the powers as the court making the appointments confers. Grantor hereby irrevocably consents to
<br />such appointment and waives notice of any application therefore.
<br />NO WAIVER. No delay or failure of Lender to exercise any right, remedy, power or privilege hereunder
<br />shall affect that right, remedy, power or privilege nor shall any single or partial exercise thereof preclude
<br />the exercise of any right, remedy, power or privilege. No Lender delay or failure to demand strict
<br />adherence to the terms of this Security Instrument shall be deemed to constitute a course of conduct
<br />inconsistent with Lender's right at any time, before or after an event of default, to demand strict adherence
<br />to the terms of this Security Instrument and the Related Documents.
<br />SUBSTITUTE TRUSTEE. Lender, at its option, may from time to time remove Trustee and appoint a
<br />successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this
<br />Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to
<br />all the title, 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
<br />person, all persons executing this Security Instrument agree that they shall be jointly and severally bound,
<br />where permitted by law.
<br />SURVIVAL. Lender's rights in this Security Instrument will continue in its successors and assigns. This
<br />Security 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
<br />demand given by lender to any party is considered effective: (i) when it is deposited in the United States
<br />Mail with the appropriate postage; (ii) when it is sent via electronic mail; (iii) when it is sent via facsimile;
<br />(iv) when it is deposited with a nationally recognized overnight courier service; (v) on the day of personal
<br />deliver; or (vi) any other commercially reasonable means. A copy of any notice shall be sent to each party
<br />at the address of the party given at the beginning of this Security Instrument unless an alternative address
<br />has been provided to Lender in writing. To the extent permitted by law, Grantor waives notice of Lender's
<br />acceptance of this Security Instrument, defenses based on suretyship, any defense arising from any election
<br />by Lender under the United States Bankruptcy Code, Uniform Commercial Code, as enacted in the state
<br />where Lender is located or other applicable law or in equity, demand, notice of acceleration, notice of
<br />nonpayment, presentment, protest, notice of dishonor and any other notice.
<br />REQUEST FOR NOTICES: Grantor request that copies of the notice of default and notice of sale be
<br />sent to the address of each party given at the beginning of the Security Instrument.
<br />TO THE EXTENT PERMITTED BY LAW, GRANTOR WAIVES ANY RIGHT TO NOTICE,
<br />OTHER THAN THE NOTICE PROVIDED ABOVE, AND WAIVES ANY RIGHT TO ANY
<br />HEARING, JUDICIAL OR OTHERWISE, PRIOR TO LENDER EXERCISING ITS RIGHTS
<br />UNDER THIS SECURITY INSTRUMENT.
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