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<br />the same and for the purpose of performing any ofthe acts it is authorized to perform under the terms
<br />of any of the Loan Instruments.
<br />I. EVENTS OF DEFAULT. Any of the following events shall be deemed an event of default
<br />hereunder:
<br />(1) Trustor shall have failed to make payment of any installment of interest, principal,
<br />or principal and interest or any sum secured hereby within fifteen (15) days of when due; or
<br />(2) There has occurred any other breach of or default under any term, covenant,
<br />agreement, condition, provision, representation or warranty contained in any ofthe Loan Instruments
<br />which has not been cured within fifteen (15) days after mailing of written notice identifying such
<br />default.
<br />J. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should an event of
<br />default occur, Beneficiary may declare all indebtedness secured hereby to be due and payable and the
<br />same shall thereupon become due and payable without any presentment, demand, protest or notice
<br />of any kind. Thereafter, Beneficiary may do any one or more of the following:
<br />(1) Either in person or by agent, with or without bringing any action or proceeding,
<br />or by a receiver appointed by a court and without regard to the adequacy of its security, enter upon
<br />and take possession of the Trust Estate, or any part thereof, in its own name or in the name of
<br />Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketability
<br />or rentability of the Trust Estate, or part thereof or interest therein, increase the income therefrom
<br />or protect the security hereof and, with or without taking possession of the Trust estate, sue for or
<br />otherwise collect the rents, issues and profits thereof including those past due and unpaid, and apply
<br />the same, less costs and expenses of operation and collection including attorneys' fees, upon any
<br />indebtedness secured hereby, all in such order as Beneficiary may determine. The entering upon and
<br />taking possession of the Trust Estate, the collection of such rents, issues and profits and the
<br />application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or
<br />invalidate any act done in response to such default or pursuant to such notice of default and,
<br />notwithstanding the continuance in possession of the Trust Estate or the collection, receipt and
<br />application of rents, issues or profits, Trustee or Beneficiary shall be entitled to exercise every right
<br />provided for in any of the Loan Instruments or by law upon occurrence of any event of default,
<br />including the right to exercise the power of sale.
<br />(2) 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 />(3) Deliver to Trustee a written declaration of default and demand for sale, and a
<br />written 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 ofthe County
<br />in which the Trust Estate is located.
<br />K. FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to foreclose by
<br />exercise of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with
<br />Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and
<br />secured hereby as Trustee may require.
<br />(1) 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 by law
<br />and by this Deed of Trust. Trustee shall, without demand on Trustor, after such time as may then be
<br />required by law and after recordation of such Notice of Default and after Notice of Sale having been
<br />given as required by law, sell the Trust Estate at the time and place of sale fixed by it in such Notice
<br />of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and
<br />in such order as it may determine, at public auction to the highest bidder for cash in lawful money of
<br />the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers
<br />thereof its good and sufficient deed or deeds conveying the property so sold, but without any
<br />covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof Any person, including, without limitation Trustor,
<br />Trustee or Beneficiary, may purchase at such sale and Trustor hereby covenants to warrant and
<br />defend the title of such purchaser or purchasers.
<br />(2) As may be permitted by law, after deducting all costs and expenses of Trustee and
<br />of this Trust in exercising the power of sale and of the sale, including, but not limited to, the payment
<br />of a reasonable trustee's fee not to exceed 1 /2 of 1% of the gross sale price, reasonable attorney's fees,
<br />and costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale to
<br />payment of (I) the obligation secured herein and all sums expended under the terms hereof, not then
<br />repaid, with accrued interest at the default rate provided in the Note, (ii) all other sums then secured
<br />hereby, (iii) junior trust deeds, mortgages, or other lienholders, and (iv) the remainder, if any, to the
<br />person or persons legally entitled thereto.
<br />(3) Trustee may in the manner provided by law, postpone sale of all or any portion
<br />of the Trust Estate.
<br />L. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of them, shall be
<br />entitled to enforce payment and performance of any indebtedness or obligations secured hereby and
<br />to exercise all rights and powers under this Deed of Trust or under any loan instrument or other
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