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20000908 immediately due and payable by delivery to Trustee of a written declaration of default. If Beneficiary desires said property be sold, it shall deposit with Trustee this Deed of Trust and all Promissory Notes and documents evidencing expenditures secured hereby, and shall deliver to Trustee a written Notice of Default and election to cause said property to be sold in the form required by law, which shall be duly filed for record by the Trustee. Sale and distribution procedure shall be as follows: (1) After the lapse of such time as may be required by law following the recordation of said Notice of Default, and Notice of Sale having been given as required by law, Trustee, without demand on Trustor, shall sell said property on the date and at the time and place designated in said Notice of Sale, at public auction to the highest bidder, the purchase price to be payable in lawful money of the United States at the time of sale. The person conducting the sale may, for any cause he deems expedient, postpone the sale from time to time until it shall be completed, and in every case, notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the sale; provided, if the sale is postponed for longer than one day beyond the day designated in the Notice of Sale, notice thereof shall be given in the same manner as the original Notice of Sale. Trustee shall execute and deliver to the purchaser its deed conveying said property so sold, but without any covenant or warranty, express or implied. The recitals in the deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including the Beneficiary, may purchase at the sale. (2) When Trustee sells pursuant to the powers herein, Trustee shall apply the proceeds of sale to the payment of costs and expenses of exercising the power of sale and of the sale, including payment of Trustee's fees actually incurred, which Trustee's fees shall not in the aggregate exceed the following amounts based upon the amount secured hereby and remaining unpaid: 5 percentum on the first $1,000.00 thereof, .05 percentum on the balance thereof; and then to the items in subparagraph (3) in the order there stated. (3) After paying the items specified in subparagraph (2) if the sale is by Trustee or the proper court, and other costs of foreclosure and sale if sale is pursuant to judicial foreclosure, the proceeds of sale shall be applied in the order stated to the payment of- (a) Cost of any evidence of title procured in connection with any conveyance. (b) All sums then secured hereby. (c) The remainder, if any, to the person or persons legally entitled thereto. (4) At any time within three months after a sale of property under this Deed of Trust as hereinabove provided, an action may be commenced to recover any balance due upon the obligation as provided in Section 76- Page 3 of 6