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<br />201600847
<br />Instruments that has remained uncured after passage of any applicable period by which
<br />such default may be cured as provided in the Trust Instruments; or
<br />b. Trustor shall file a voluntary petition in bankruptcy or shall be adjudicated
<br />as bankrupt or insolvent, or shall file any petition or answer seeking or acquiescing in
<br />any reorganization, arrangement, composition, readjustment, liquidation, dissolution or
<br />similar relief for itself under any present or future bankruptcy, insolvency or other relief
<br />for debtors; or shall seek or consent to or acquiesce in the appointment of any trustee,
<br />receiver or liquidator of the Trustor or of all or any part of the Trust Estate, or of any or all
<br />of the royalties, revenues, rents, issues or profits thereof, or shall make any general
<br />assignment for the benefit of creditors, or shall admit in writing its inability to pay its
<br />debts generally as they become due; or
<br />c. A court of competent jurisdiction shall enter an order, judgment or decree
<br />approving a petition filed against Trustor seeking any reorganization, dissolution or
<br />similar relief under any present or future federal, state or other statute, law or regulation
<br />relating to bankruptcy, insolvency or other relief for debtors, and such order, judgment or
<br />decree shall remain unvacated and unstayed for an aggregate of sixty (60) days
<br />(whether or not consecutive) from the first date of entry thereof; or any trustee, receiver
<br />or liquidator of Trustor of all or any part of the Trust Estate, or of any or all of the
<br />royalties, revenues, rents, issues or profits thereof, shall be appointed without the
<br />consent or acquiescence of Trustor and such appointment shall remain unvacated or
<br />unstayed for an aggregate of sixty (60) days (whether or not consecutive); or
<br />d. A writ of execution or attachment or any similar process shall be entered
<br />against Trustor which shall become a lien on the Trust Estate, or any portion thereof or
<br />interest therein, and such execution, attachment or similar process of judgment is not
<br />released, bonded, satisfied, vacated or stayed within ninety (90) days after its entry or
<br />levy.
<br />9. ACCELERATION; REMEDIES; POWER OF SALE. Upon an Event of Default by
<br />Trustor, as defined herein, Beneficiary may declare all sums secured hereby immediately due
<br />and payable by delivering to Trustee a written declaration of default. If the Event of Default
<br />remains uncured for a period of fifteen (15) days after such delivery, THE TRUSTEE SHALL
<br />HAVE THE POWER OF SALE OF THE TRUST ESTATE and if Beneficiary desires the Trust
<br />Estate to be sold, it shall deposit with Trustee this Deed of Trust and any other agreements and
<br />documents evidencing obligations secured hereby, and shall deliver to Trustee a written notice
<br />of default and election to cause the Property to be sold, and the Trustee in turn shall prepare a
<br />similar notice in the form required by law, which shall be duly filed of record by Trustee.
<br />a. After the lapse of such time as may be required by law following the
<br />recordation of said notice of default, and notice of default and notice of sale having been
<br />given as required by law, Trustee, without demand on Trustor, shall sell the Trust Estate
<br />on the date and at the time and place designated in said notice of sale, at public auction
<br />to the highest bidder, the purchase price payable in lawful money of the United States at
<br />the time of sale. The person conducting the sale may, for any cause he deems
<br />expedient, postpone the sale from time to time until it shall be completed and, in every
<br />such case, notice of postponement shall be given by public declaration thereof by such
<br />person at the time and place last appointed for the sale; provided, if the sale is
<br />postponed for longer than one (1) day beyond the day designated in the notice of sale,
<br />notice of postponement shall be given in the same manner as the original notice of sale.
<br />Trustee shall execute and deliver to the purchaser a deed conveying the Trust Estate
<br />sold, but without any covenant or warranty, express or implied. The recitals in such
<br />deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
<br />person, including Beneficiary, may purchase at the sale.
<br />b. When Trustee sells pursuant to the powers herein, the Trustee shall apply
<br />the proceeds of the sale to payment of the costs and expenses of exercising the power
<br />of sale and of the sale, including, but not limited to, the payment of the Trustee's fees
<br />actually incurred, and then to the items in subparagraph (c) in the order there stated.
<br />c. After paying the items specified in subparagraph (b) if the sale is by
<br />Trustee, or after payment of proper court costs if the sale is pursuant to judicial
<br />foreclosure, the proceeds of sale shall be applied in the order stated below: (i) cost of
<br />any evidence of title procured in connection with such sale and of any revenue stamps;
<br />(ii) attorney fees and costs of collection; (iii) all sums then secured by this Deed of Trust;
<br />(iv) junior trust deeds, mortgages, or other Iienholders; and (v) the remainder, if any, to
<br />the person legally entitled thereto.
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