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39'104332
<br />(b) There has occurred a breach of or default under any
<br />term, covenant, agreement, condition, provision, representation
<br />or warranty contained in this Deed of 'trust, the note or any
<br />other loan instrument secured hereby;
<br />(c) There has been a default by the Trustor in the payment
<br />of any prior or subsequent line or encumbrance in respect to
<br />all or any part of the property;
<br />(c) Trustor shall file a voluntary petition in bankruptcy
<br />or shall make an assignment for the bene`it of .creditors in re-
<br />spect to the property; or an action to enforce any lien or encum-
<br />brance or judgments against the propertry is commenced.
<br />ll.,. Acceleration Upon Default. In the event of any default, Beneficiary may
<br />declare all indebtedness secured hereby to be due and payable, and the same shall
<br />thereupon become due and, payable without any presentment, demand,protest or notice
<br />of any kind. Thereafter, Beneficiary may:
<br />(a) eithet in person or by. agent, with or without bringing
<br />any action or proceeding, or by receiver appointed by a court
<br />and without regard to the adequacy of any security, enter upon
<br />and take possession of the property, or any part thereof, in
<br />its own name or in the name of the Trustee, and do anj acts which
<br />it deems necessary and desirable to preserve the value, market -
<br />ability or rentability .of the property, or part thereof or inter-
<br />est therein, increase tt-,e income therefrom or protect the security
<br />hereof and, without t,*ing possession" of the property,. sue for
<br />or otherwise. collect the rents, issues and profits thereof, in-
<br />cluding those.0ast due and unpaid, and apply the .same, less costs
<br />and expenseo 'Of operation uvllectiui„ 3n:ludin att ^Tn ° -;�.
<br />fees, upon any indebtedness secured hereby, all in such order
<br />as Beneficiary, may determine. Tha• entering upon and taking pos-
<br />session of the trust estate, the collection of such rents, issues
<br />and profits and application thereof as aforesaid shall not cure
<br />or waiue any default or notice of default hereunder or invalidate
<br />any act and in response.'to such default o"r pursuant to such notice
<br />of default and, notwithstanding the continuance in possession
<br />of the property or the collection, receipt and application of
<br />rents, issues or profits, Trustee or Beneficiary may be entitled
<br />to exercise every, right provided for in any of'the loan instru-
<br />ments or by law upon occurence of any event of default, including
<br />the right to exercise the power of sale;
<br />(b) commence an
<br />Is ..a mortgage, appoint
<br />of the covenants hereof;
<br />action to foreclose this Deed of Trust
<br />a receiver, or specifically enforce any
<br />(c). deliver to, Trustee a written declaration of default
<br />and de: and for sale,,:. and a written notice of default and election
<br />to carsse Truster's interest in the property to be sold, which
<br />notice Trustee shall cause td- be duly filed for record in the
<br />official records of the county in which the property is located.
<br />12. Fareclosure by Power of Sale. Shcu,lq Beneficiary elett to foreclose by,
<br />exercise of'.•.the power of sale herein contained, Beneficiary shall notify Trustee:
<br />and shall deposit with Trustee this Deed of Trust and. the note and such receipts,
<br />and evidence of expenditures made and secured hereby. :.as: Trustee may require, and!
<br />upon '• request.. of the Beneficiary, the Trustee shall Me for record, in the County
<br />wh6re the pidperty is located, a notice of deF ult, setting forth the name of the
<br />Trustor, the Book and Page or Document No. of this Deed of Trust as recorded in the
<br />Country, the legal description of the above - described real estate and that a breach
<br />cif an obligation, for which said real estate !.as conveyed as security, has occurred,
<br />and setting (forth the nature. ruff such breach aitd: the Trustee's election to sell the
<br />-real estate :..p satisfy the obligation and shall`.,mail: copies of such notice in the
<br />manner presr�Ibed by applicably law to Trustor-'and 'try such other persons prescribed
<br />by applicable law. After the lapse of such time as. mraj be required by applicable
<br />laia' the Trustee shall give written notice of the ti S.,.h.nd place of sale to the per -
<br />svr+s and in the manner presc ibed by applicab.1a.- lawi describing the property to be
<br />sold by its legal description, said notice ajila to be published in a newspaper of
<br />rjerivrai circulation in the County wherein such. property is located, at the times
<br />and in the fashion required by applicable law; and tt,e Trustee shall then sell said
<br />rrr :rr>atf at the tirr;E� •irr't pinr.v designated in the notice, ir' tt;cs manner c)iovidnd by
<br />:,i f ect Fit i ` ;' tlf' rrf f it inrt said notice, at p ,J 11! :iur.i `u'1 ti, t"
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