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201600404
<br />Federal Bankruptcy Code or any other similar statute as is now or hereafter in effect, or if the
<br />frustor shall be adjudicated bankrupt or insolvent or any of Trustor's property shall have been
<br />sequestered and such decree shall have continued undischarged and unstayed for 90 days after the
<br />entry thereof, then the whole of the Note and indebtedness hereby secured shall, without notice, at
<br />the option of the Beneficiary, become due and payable.
<br />FIFTH. Upon default by Trustor in the payment of or performance of the terms and
<br />conditions of the Note, or any renewals, modifications or executions thereof, the payment of any
<br />other indebtedness secured hereby or in the performance of any agreement, covenant or warranty
<br />herein contained or set forth in any agreement or instrument executed by Trustor in connection with
<br />the indebtedness hereby secured, Beneficiary may declare all sums secured hereby immediately due
<br />and payable and the same shall thereupon become due and payable without presentment, demand,
<br />protest or notice of any kind. Thereafter, Beneficiary may deliver to Trustee a written declaration of
<br />default and demand for sale. Trustee shall have the power of sale of the Property and if Beneficiary
<br />decides the Property is to be sold, it shall deposit with Trustee this Deed of Trust and the Note or
<br />notes and any other documents evidencing expenditures secured hereby, and shall deliver to Trustee
<br />a written notice of default and election to cause the Property to be sold, and Trustee, in turn, shall
<br />prepare a similar notice in the form required by law, which shall be duly filed for record by Trustee.
<br />(a) After the lapse of such time as may be required by law following the recordation of Notice
<br />of Default, and notice of Default and Notice of Sale having been given as required by law,
<br />Trustee, without demand on Trustor, shall sell the Property hereinbefore described, and any
<br />and every part thereof, in separate parcels or en masse as the Trustee may elect and in such
<br />order as Trustee may determine on the date and at the time and place designated in said
<br />Notice of Sale, at public auction to the highest bidder, the purchase price payable in cash in
<br />lawful money of the United States at the time of sale. The person conducting the sale may,
<br />for any cause he or she deems expedient, postpone the sale from time to time until it shall
<br />be completed and, in every such case, notice of postponement shall be given by public
<br />declaration thereof by such person at the time and place last appointed for the sale;
<br />provided, if the sale is postponed for longer than one (1) day beyond the day designated in
<br />the Notice of Sale, notice thereof shall be given in the same manner as the original Notice of
<br />sale. Trustee shall execute and deliver to the purchaser its Deed conveying the property so
<br />sold, but without any covenant or warranty, express or implied. The recitals in the Deed of
<br />any matters or facts shall be conclusive proof of the truthfulness thereof. Any person,
<br />including without limitation, Beneficiary or Trustee may purchase at the sale. Said sale
<br />shall be conducted at the real estate forming a part of the Property or at the court house in
<br />the county in which the Property to be sold, or some part thereof, is situated.
<br />(b) When Trustee sells pursuant to the powers herein, Trustee shall apply the proceeds of the
<br />sale to payment of the costs and expenses of exercising the power of sale and of the sale,
<br />including, without limitation, the payment of Trustee's fees incurred, which Trustee's fees
<br />shall not in the aggregate exceed the surn of Five Hundred and no /100th Dollars ($500.00)
<br />plus 1/2 of I% of the amount secured hereby and remaining unpaid and then to the items set
<br />forth in subparagraph (c) of this paragraph FIFTH in the order therein stated.
<br />(c) After paying the items specified in subparagraph (b) of this paragraph FIFTH, if the sale is
<br />by Trustee, or the proper court and other costs of foreclosure and sale if sale is pursuant to
<br />judicial foreclosure, the proceeds of sale shall be applied in the order stated below to the
<br />payment:
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