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<br />past due and unpaid, and apply the same, less costs and expenses of operation and collection
<br />including attorneys' fees, upon any indebtedness secured hereby, all in such order as
<br />Beneficiary may determine. The entering upon and taking possession of the Trust Estate, the
<br />collection of such rents, issues and profits and the application thereof as aforesaid, shall not
<br />cure or waive any default or notice of default hereunder or invalidate any act done in response
<br />to such default or pursuant to such notice of default and, notwithstanding the continuance in
<br />possession of the Trust Estate or the collection, receipt and application of rents, issues or
<br />profits, Trustee or Beneficiary shall be entitled to exercise every right provided for in any of the
<br />Loan Instruments or by law upon occurrence of any event of default, including the right to
<br />exercise the power of sale;
<br />(ii) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a
<br />receiver, or specifically enforce any of the covenants hereof;
<br />(iii) Deliver to Trustee a written declaration of default and demand for sale, and a written
<br />notice of default and election to cause Trustor's interest in the Trust Estate to be sold, which
<br />notice Trustee shall cause to be duly filed for record in the appropriate Official Records of the
<br />County in which the Trust Estate is located.
<br />12. FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to foreclosure
<br />by exercise of the Power of Sale herein contained, Beneficiary shall notify Trustee and shall
<br />deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of
<br />expenditures made and secured hereby as Trustee may require.
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded,
<br />published and delivered to Trustor such Notice of Default and Notice of Sale as then required
<br />by law and by this Deed of Trust. Trustee shall, without demand on Trustor, after such time as
<br />may then be required by law and after recordation of such Notice of Default and after Notice
<br />of Sale having been given as required by law, sell the Trust Estate at the time and place of sale
<br />fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as
<br />Trustee shall deem expedient, and in such order as it may determine, at public auction to the
<br />highest bidder for cash in lawful money of the United States payable at the time of sale.
<br />Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed of
<br />deeds conveying the property so sold, but without any covenant or warranty, express or implied.
<br />The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness
<br />thereof. Any person, including, without limitation, Trustor, Trustee or Beneficiary, may purchase
<br />at such sale and Trustor hereby covenants to warrant and defend the title of such purchaser
<br />or purchasers.
<br />(b) As may be permitted by law, after deducting all costs and expenses of exercising
<br />the power of sale and of the sale, including the payment of trustees fees of $2,000.00, and
<br />including costs of evidence of or insurance of title, in connection with sale, Trustee shall apply
<br />the proceeds of sale to payment of (i) all sums expended under the terms hereof, not then
<br />repaid, with accrued interest at sixteen percent (16 %) per annum, and all other sums then
<br />secured hereby, and (ii) the remainder, if any to the payment of junior trust deeds, mortgages
<br />or other lienholders, and (iii) the balance, if any, to the person or persons legally entitled
<br />thereto.
<br />(c) Trustee may in the manner provided by law, postpone sale of all or any portion
<br />of the Trust Estate.
<br />13. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of them, shall
<br />be entitled to enforce payment and performance of any indebtedness or obligations secured
<br />hereby and to exercise all rights and powers under this Deed of Trust or under any Loan
<br />Instrument or other agreement or any laws now or hereafter in force, notwithstanding some or
<br />all of the such indebtedness and obligations secured hereby may now or hereafter be otherwise
<br />secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither
<br />the acceptance of this Deed of Trust nor its enforcement whether by court action or pursuant
<br />to the power of sale or other powers herein contained, shall prejudice or in any manner affect
<br />Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereafter
<br />held by Trustee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of them,
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