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200100519
<br />corporation or partnership, as the case may be, shall be transferred or conveyed,.whether
<br />voluntarily or involuntarily, without the written consent of Lender being first had and
<br />obtained.
<br />SECTION TWENTY
<br />ACCELERATION OF DEBT; FORECLOSURE
<br />Upon the occurrence of any Event of Default, or any time thereafter, Lender may, at its
<br />option, declare all the indebtedness secured hereby immediately due and payable and the same
<br />shall bear interest at the default rate, if any, set forth in the Note, or otherwise at the
<br />highest rate permitted by law, and, irrespective of whether Lender exercises said option, it
<br />may, at its option and in its sole discretion, without any further notice or demand to or
<br />upon Borrower, do one or more of the following: (a) Lender may enter upon, take possession
<br />of, manage and operate the Property or any part thereof; make repairs and possession, in its
<br />own name, sue for or otherwise collect and receive rents, issues and profits, including those
<br />past due and unpaid, and apply the same, less costs and expenses of operation and collection,
<br />including reasonable attorney fees and Lender's costs, upon the indebtedness secured hereby
<br />and in such order as Lender may determine. Upon request of Lender, Borrower shall assemble
<br />and shall make available to Lender any of the Property which has been removed. The entering
<br />upon and taking possession of the Property, the collection of any rents, issues and profits,
<br />and the application thereof as aforesaid, shall not cure or waive any default theretofore or
<br />thereafter occurring, or affect any notice of default or notice of sale hereunder or
<br />invalidate any act done pursuant to any such notice. Notwithstanding Lender's continuance in
<br />possession or receipt and upon or after the occurrence of an Event of Default, including the
<br />right to exercise the power of sale. Any of the actions referred to in this paragraph may be
<br />taken by Lender at such time as Lender may determine without regard to the adequacy of any
<br />security for the indebtedness secured hereby; (b) Lender shall, without regard to the
<br />adequacy of any security for the indebtedness secured hereby, be entitled to the appointment
<br />of a receiver by any court having jurisdiction, without notice, to take possession of,
<br />protect, and manage the Property and operate the same and collect the rents, issues and
<br />profits therefrom; (c) Lender may bring any action in any court of competent jurisdiction to
<br />foreclose this Deed of Trust or enforce any of the covenants hereof; and (d) Lender may
<br />elect to cause the Property or any part thereof to be sold under the power of sale, and in
<br />such event, Lender or Trustee shall give such notice of default and notice of sale as may be
<br />then required by law. Thereafter, upon the expiration of such time and the giving of such
<br />notice as may then be required by law, Trustee, at the time and place specified by the notice
<br />of sale, shall sell such Property, or any part thereof specified by Lender, at public auction
<br />to the highest bidder for cash in lawful money of the Unites State of America. Upon receipt
<br />of payment of the price bid, Trustee shall apply the proceeds in the following order: (i)
<br />to the cost and expenses of exercising the power of sale and of the sale, including but not
<br />limited to, trustee's fees of not more than $500.00 plus one -half of one percent of the gross
<br />sale price, and reasonable attorney fees, (ii) to the indebtedness, and (.iii) the excess,
<br />if any, to the person or person legally entitled thereto.
<br />All costs and expenses incurred by Lender in enforcing any right under this Deed of
<br />Trust, including without limitation, abstract or title fees, appraisal fees, premiums for
<br />title insurance, attorney fees and court costs, shall be and constitute indebtedness secured
<br />hereby.
<br />SECTION TWENTY -ONE
<br />DUTIES OF TRUSTEE
<br />Borrower agrees that: (a) Duties and obligations of Trustee shall be determined
<br />solely by the express provisions of this Deed of Trust and Trustee shall not be liable except
<br />for the performance of such duties and obligations as are specifically set forth herein, and
<br />no implied covenants or obligations shall be imposed upon Trustee; (b) No provision of this
<br />Deed of Trust shall require Trustee to expend or risk its own funds, or otherwise incur any
<br />financial obligation in the performance of any of its duties hereunder, or in the exercise of
<br />any of its rights or powers; (c) Trustee may consult with counsel of its own choosing and
<br />the advise of such counsel shall be full and complete authorization and protection in the
<br />respect of any action taken or suffered by it hereunder in good faith and reliance thereon;
<br />and (d) Trustee shall not be liable for any action taken by it in good faith and reasonably
<br />believed by it to be authorized or within its discretion or rights or powers conferred upon
<br />it by this Deed of Trust.
<br />SECTION TWENTY -TWO
<br />REGULATION Z WAIVER
<br />The Borrower agrees this transaction is not a transaction between a borrower_ and a
<br />commercial lender rind waives any three (3) day right to rescind it may have, together with
<br />any rights to disclosures and notices in addition to those made herein, if any, under federal
<br />and state Truth in Lending and Consumer Protection legislation.
<br />SECTION TWENTY- FHR.EE
<br />RECONVEYANCE
<br />Upon payment of all sums secured by this Security Instrument:, Lender shall request
<br />Trustee to reconvey the Property and shall surrender this Security Instrument and all notes
<br />evidencing debt secured by this Security instrument to Trustee. Trustee shall reconvey the
<br />Property without warranty and without charge to the person of persons legally entitled to it.
<br />Such person or persons shall pay any recordation costs.
<br />SECTION TWENTY -FOUR
<br />SUBSTITUTE TRUSTEE
<br />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
<br />this Security Instrument is recorded. Without conveyance of the Property, the successor
<br />trustee shall succeed to all the title, power, and duties conferred upon Trustee herein and
<br />by applicable law.
<br />SECTION TWENTY -FIVE
<br />REQUEST FOR NOTICES
<br />Borrower request that copies of the notices of default and sale be sent to Borrower's
<br />address which is the Property Address.
<br />By signing below, Borrower accepts and agrees to the terms and covenants contained in
<br />this Security Instr tent.
<br />DATED this day of �` 2001.
<br />I - &,�Xt
<br />S � )
<br />Bridget A. fjrrington
<br />TRUSTOR
<br />
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