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<br /> use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or
<br /> not then due. The thirty(30) day period will begin when the notice is given.
<br /> 5, WASTE. That the Borrower shall not commit or suffer any waste of the property.
<br /> 6. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall
<br /> give Bonower notice at the time of or prior to an inspection specifying reasonable cause for the inspection.
<br /> 7. CONDEMNATION. The proceeds of any award or claim for damages, direct or consequential, in
<br /> connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of
<br /> condemnation, are hereby assigned and shall be paid to Lender.
<br /> 8. BORROWER NOT RELEASED; FOREBEARANCE BY LENDER NOT A WAIVER. Extension
<br /> of the time for payment or modification of amortizarion of the sums secured by this Security Instrument granted
<br /> by Lender to Borrower or any successor in interest of Borrower shall not operate to release the liability of the
<br /> original Bonower or Bonower's successors in interest. Lender shall not be required to commence proceedings
<br /> against any successor in interest or refuse to e�end time for payrnent or otherwise modify amortization of the
<br /> sums secured by this Security Instrument by reason of any demand made by the original Borrower or
<br /> Borrower's successors in interest. Any forebearance by Lender in exercising any right or remedy, shall not be a
<br /> waiver of or preclude the exercise of any right or remedy.
<br /> 9. DEFAULT. That, if the Borrower defaults in any of the covenants or agreements conta.ined herein or
<br /> in performance of the Promissory Note(s) secured hereby, then the Beneficiary may perform the same and that
<br /> all expenditures made by Beneficiary in so doing shall draw interest at the rate provided in the Promissory
<br /> Note(s) and shall be repayable by Borrower to Beneficiary and, together with interest and costs accruing
<br /> thereon, shall be secured by this Deed of Trust.
<br /> lO.ACCELERATION UPON DEFAULT. If the Borrower defaults in the payment of any installment of
<br /> principal or interest due under said Promissory Note(s) or if the Bonower defaults in the perforrnance of any
<br /> other covenant or agreement to be performed under said Promissory Note(s) or this Deed of Trust, or if a
<br /> trustee, receiver or liquidator of the Property or of Borrower shall be appointed, or any of the creditors of
<br /> Bonower shall �le a petition in bankruptcy against Bonower, or for the reorganization of Borrower pursuant to
<br /> the Federal Bankruptcy Code or any similar law, whether federal or state, and if such order or petition shall not
<br /> be discharged or dismissed within thirty (30) days after the date on which such order or petition was filed.
<br /> Bonower shall file a petition pursuant to the Federal Bankruptcy Code or any similar law, federal or sta.te, or if
<br /> Borrower shall be ajudged a bankrupt, or be declared insolvent, or shall make an assignment for the benefit of
<br /> creditors, or shall admit in writing its inability to pay its debts as they become due, or shall cansent to the
<br /> appointment of a receiver of all or any part of the property.
<br /> Upon the occurrence of any of the above described faults, or anytime thereafter, Beneficiary may, at its
<br /> option, declare all the indebtedness secured hereby immediately due and payable and the same shall bear
<br /> interest at the default rate, if any, set forth in the Note, or otherwise at the highest rate permitted by law, and,
<br /> irrespective of whether Beneficiary exercises said option, it may, at its option and in its sole discretion, without
<br /> any further notice or demand to or upon Trustor, do one or more of the following: (a) Beneficiary may enter
<br /> upon, take possession of, manage and operate the Properiy or any part thereof, make repairs and possession, in
<br /> its own name, sue for or otherwise collect and receive rents, issues and prafits, including those past due and
<br /> unpaid, and apply the same, less costs and expenses of operation and collection, including reasonable attorney
<br /> fees and Beneficiary's costs, upon the indebtedness secured hereby and in such order as Beneficiary may
<br /> determine. The entering upon and taking possession of the Property, the collection of any rents, issues and
<br /> profits, and the application thereof as aforesaid, shall not cure or waive any default theretofore or thereafter
<br /> occurring, or affect any notice of default or notice of sale hereunder or invalidate any act done pursuant to any
<br /> such notice. Beneficiary may bring any action in any court of competent jurisdiction to foreclose this Deed of
<br /> Trust or enforce any of the covenants hereof and Beneficiary may elect to cause the Property or any part thereof
<br /> to be sold under the power of sale, and in such event, Beneficiary may elect to cause the Property or any part
<br /> thereof to be sold under the power of sale, and in such event, Bene�ciary or Trustee shall give such notice of
<br /> default and notice of sale as may be then required by law.
<br /> 11. POWER OF SALE. That the Borrower hereby confers upon the Trustee a power to sell the
<br /> property which the Trustee may exercise and under which the property may be sold in the manner provided by
<br /> law. At the option of the beneficiary, this Deed of Trust may be foreclosed in the manner provided by law for
<br /> the foreclosure of mortgage on real property. That, if a sale of the property by the Trustee is exercised under
<br /> this power of sale, the proceeds shall be applied first to the payment of the costs and expenses of exercising the
<br /> power of sale, including the fee of the Trustee in an amount not to exceed two per cent (2%) of the sale price
<br /> then to the payment of the obligation secured by the Deed of Trust and the balance, if any, to the person or
<br /> persons legally entitled thereto.
<br /> 12. ACCELERATION IN THE EVENT OF TRANSFER. In the event the title to the said real estate is
<br /> transferred, or contracted to be transferred, from the undersigned for any reason or by any method whatsoever,
<br /> the entire principal sum and the accrued interest shall at once become due and payable at the election of the
<br /> Beneficiary. Failure to exercise this option because of transfer of title as above sta.ted in one instance shall not
<br /> constitute a waiver of the right to exercise the same in the event of any subsequent transfer.
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