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10. Events of Default. Any of the following events shall be deemed an event of default hereunder: 2 O U O O J 2 7N
<br />A.Trustor shall have failed to make payment of any installment of interest, principal, or principal and interest or any other sum
<br />secured hereby when due; or
<br />B.There has occurred a breach of or default under any term, covenant, agreement, condition, provisions, representations, or
<br />warranty contained in any of the Loan Instruments.
<br />C.If all or any part of the Property or any interest therein is sold either outright or by land contract or otherwise transferred by
<br />Trustor without Beneficiary's prior written consent excluding (i) the creation of a lien or encumbrance subordinate to this Deed
<br />of Trust, (ii) the creation of a purchase money security interest for household appliances, (iii) a transfer by devise, descent or
<br />by operation of law upon the death of a joint tenant, or (iv) the grant of any leasehold interest of three years or less not
<br />containing an option to purchase.
<br />D. If Trustor defaults in the payment of any installment of principal or if any interest on any prior mortgage note or note secured
<br />by a prior Deed of Trust filed against the Trust Estate, or in the performance of any of the covenants of any prior mortgage or
<br />Deed of Trust filed against the Trust Estate.
<br />11.Acceleration upon Default. Additional Charges. Should an event of default occur, Beneficiary may declare all indebtedness
<br />secured hereby to be due and payable and the same shall thereupon become due and payable without any presentment, demand,
<br />protest or notice of any kind. Thereafter Beneficiary may:
<br />A.Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a Court and
<br />without regard to the adequacy of its security, enter upon and take possession of the Trust Estate, or any part thereof, in its
<br />own name or in the name of Trustee, and do any acts which it deems necessary or desirable to in the name of a nominee,
<br />release powers, hold property anywhere in the United States or abroad, acquire or continue any business, engage advisers or
<br />assistants, act upon their advice, delegate powers, preserve the value, marketability or rentability of the Trust Estate, or part
<br />thereof or interest therein, increase the income therefrom or protect the security hereof and, with or without taking possession
<br />of the Trust Estate, use for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and
<br />apply the same, less costs and expenses of operation and collection including attorneys' fees, upon any indebtedness secured
<br />hereby, all in such order as Beneficiary may determine. The entering upon and taking posession of the Trust Estate, the
<br />collection of such rents, issues, and profits and the application thereof as aforesaid, shall not cure or waive any default or
<br />notice of default hereunder or 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 application of rents, issues, or
<br />profits, Trustee or Beneficiary shall be entitled to exercise every right provided for in any of the Loan Instruments or by law
<br />upon occurrence of any event of default, including the right to exercise the power of sale;
<br />B.Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants hereof;
<br />C.Deliver to Trustee a written declaration of default and demand for sale, and a written notice of default and election to cause
<br />Trustor's interest in the Trust Estate to be sold, which notice Trustee cause to be duly filed for record in the appropriate
<br />Official Records of the county in which the Trust Estate is located.
<br />12.Foreclosure by Power of Sale. Should Beneficiary elect to foreclosure by exercise of the Power of Sale herein contained,
<br />Beneficiary shall notify Trustee and shall 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 />Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded, published, and delivered to Trustor such Notice
<br />of Default and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, without demand on Trustor, after
<br />such time as may then be required by law and after recordation of such Notice of Default and after Notice of Sale having been given
<br />as required by law, sell the Trust Estate at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in
<br />separate lots or parcels or items as 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. Trustee shall deliver to such purchaser or
<br />purchasers thereof its good and sufficient deed or deeds conveying the property so sold, but without any covenants or warranty,
<br />express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
<br />person, including, without limitation, Trustor, Trustee or Beneficiary, may purchase at such sale and Trustor hereby covenants to
<br />warrant and defend the title of such purchaser or purchasers. Trustee may in the manner provided by law, postpone sale of all or
<br />any portion of the Trust Estate.
<br />As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of evidence
<br />of title in connection with sale, Trustee shall apply the proceeds of sale to payment of (i) all sums expended under the terms
<br />hereof, not then repaid, with accrued interest at sixteen percent per annum, (ii) all other sums then secured hereby, (iii) to the
<br />payment of junior trust deeds, mortgages or to other lienholders and (iv) the remainder, if any, to the person or persons legally
<br />entitled thereto. For each election to foreclose by exercise of the Power of Sale herein contained, the Trustee's fee shall not
<br />exceed six percent of gross sale proceeds on loans over $25,000.
<br />13.Remedies not Exclusive. Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of
<br />any indebtedness or obligations secured 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 all of the indebtedness and
<br />obligations secured hereby may now or hereafter be otherwise secured, whether by a mortgage, Deed of Trust, pledge, lien,
<br />assignment or otherwise. Neither the acceptance of this Deed of Trust nor its enforcement whether by Court action or pursuant to
<br />the power of sale or other powers herein contained, shall prejudice or in any matter affect Trustee's or Beneficiary's right to realize
<br />upon or enforce any other security now or hereafter held by Trustee or Beneficiary, it being agreed that Trustee and Beneficiary,
<br />and each of them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter held by Beneficiary or
<br />Trustee in such order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred
<br />upon or reserved to Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law provided or permitted,
<br />but each shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in
<br />equity or by statute. Every power or remedy given by any of the Loan Instruments to Trustee or Beneficiary or to which either of
<br />them may be otherwise entitled, may be exercised, concurrently or independently, from time to time and as often as may be deemed
<br />expedient by Trustee or Beneficiary and either of them may pursue inconsistent remedies. Nothing herein shall be construed as
<br />prohibiting Beneficiary from seeking a deficiency judgment against the Trustor to the extent such action is permitted by law.
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