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201501277
<br />of the Beneficiary or assigns, regardless of maturity, and the Beneficiary or assigns may enter upon said property
<br />and collect the rents and profits thereof. Upon such default in payment or performance, and before or after such
<br />entry, the Trustee, acting in the execution of this Trust after the notice of default has been recorded, shall mail a
<br />copy of the default to each person who is a party to this instrument, at the address set out in this instrument, as well
<br />as to any person who has requested any notice of default and notice sale by recording said request for notice with the
<br />register of deeds in the county in which this instrument is recorded, and after the lapse of time which is required by
<br />law after mailing the notice, the Trustee shall have the power to sell said property, and it shall be the Trustee's duty
<br />to sell said property in case of any default of any purchaser, to resell at public auction, to the highest bidder. The
<br />Trustee shall first give five weeks' notice of the time, terms, and place of such sale, by advertisement not less than
<br />once during each of said five weeks in a newspaper published or distributed in the country or political subdivision in
<br />which said property is situated and written notice of sale shall be mailed to each person who is a party to this
<br />instrument at the address set forth herein (and the Beneficiary or any person on behalf of the Beneficiary may bid
<br />and purchase at such sale). Such sale will be held at a suitable place to be selected by the Beneficiary within said
<br />county or political subdivision. The Trustee is hereby authorized to execute and deliver to the purchaser at such sale
<br />a sufficient conveyance of said property, which conveyance shall contain recitals as to the happening of default upon
<br />which the execution of the power of sale herein granted depends; and the said Trustor hereby constitutes and
<br />appoints the Trustee as his agent and attorney in fact to make such recitals and to execute said conveyance and
<br />hereby covenants and agrees that the recitals so made shall be binding and conclusive upon the Trustor, and said
<br />conveyance shall be effectual to bar all equity or right of redemption, homestead, dower, right of appraisement, and
<br />all other rights and exemptions of the Trustor all of which are hereby expressly waived and conveyed to the Trustee.
<br />In the event of a sale as hereinabove provided, the Trustor or any person in possession under the Trustor, shall then
<br />become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be
<br />summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over. The power
<br />and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, and are granted as
<br />cumulative to all other remedies for the collection of said indebtedness. The Beneficiary or Assigns may take any
<br />other appropriate action pursuant to state of federal statute either in state or federal court or otherwise for the
<br />disposition of property.
<br />5. In the event of a sale as provided in paragraph 4, the Trustee shall be paid a fee by the Beneficiary
<br />in an amount not in excess of one percent of the gross amount of said sale or sales, provided, however, that the
<br />amount of such fee shall be reasonable and shall be approved by the Beneficiary as to reasonableness. Said fee shall
<br />be in addition to the costs and expenses incurred by the Trustee in conducting such sale. The amount of such costs
<br />and expenses shall be deducted and paid from the sale's proceeds. It is further agreed that if said property shall be
<br />advertised for sale as herein provided and not sold, the Trustee shall be entitled to a reasonable fee, in an amount
<br />acceptable to the Beneficiary for the services rendered. The Trustee shall also be reimbursed by the Beneficiary for
<br />all costs and expenses incurred in connection with the advertising of said property for sale is the sale is not
<br />consummated.
<br />6. The proceeds of any sale of said property in accordance with paragraph 4 shall be applied first to
<br />payments of fees, costs, and expenses of said sale, the expenses incurred by the Beneficiary for the purpose of
<br />protecting or maintaining said property and reasonable attorneys' fees; secondly, to payment of the indebtedness
<br />secured hereby; and thirdly, to pay any surplus or excess to the person or persons legally entitled thereto.
<br />7. In the event said property is sold pursuant to the authorization contained in this instrument or at a
<br />judicial foreclosure sale and the proceeds are not sufficient to pay the total indebtedness secured by this instrument
<br />and evidenced by said promissory note, the Beneficiary will be entitled to a deficiency judgment for the amount of
<br />the deficiency without regard to appraisement, the Trustor having waived and assigned all rights of appraisement to
<br />the Trustee.
<br />8. The Trustor covenants and agrees as follows:
<br />a. He will promptly pay the indebtedness evidenced by said promissory note at the times and in the
<br />manner therein provided.
<br />b. He will pay all taxes, assessments, water rates, and other governmental or municipal charges, fines
<br />or impositions, for which provision has not been made hereinbefore, and will promptly deliver the official
<br />receipts therefore to the Beneficiary.
<br />c. He will pay such expenses and fees as may be incurred in the protection and maintenance of said
<br />property, including the fees of any attorney employed by the Beneficiary for the collection of any or all of
<br />the indebtedness hereby secured, of such expenses and fees as may be incurred in any foreclosure sale by
<br />the Trustee, or court proceedings or in any other litigation or proceeding affecting said property, and
<br />attorney's fees reasonably incurred in any other way.
<br />d. The rights created by this conveyance shall remain in full force and effect during any
<br />postponement or extension of the time of the payment of the indebtedness evidenced by said note or any
<br />part thereof secured hereby.
<br />e. He will continuously maintain hazard insurance of such type or types and in such amounts as the
<br />Beneficiary may from time to time require, on the improvements now or hereafter on said property, and
<br />will pay promptly when due any premiums therefore. All insurance shall be carried in companies
<br />acceptable to Beneficiary and the policies and renewals thereof shall be held by Beneficiary and have
<br />attached thereto loss payable clauses in favor of and in form acceptable to the Beneficiary. In the event of
<br />loss, Trustor will give immediate notice in writing to Beneficiary and Beneficiary may make proof of loss
<br />if not made promptly by Trustor, and each insurance company concerned is hereby authorized and directed
<br />to make parent for such loss directly to Beneficiary instead of to Trustor and Beneficiary jointly, and the
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