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<br />89:-401081
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<br />9. EVENTS OF DEFAULT. Any of the following events shall be deemed an
<br />event of default hereunder:
<br />(a) Trustor shall have failed to make payment of any installment of
<br />interest, principal, or principal and interest or any other sum secured hereby
<br />when due; or,
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<br />(b) There has occurred a breach of default under any term, covenant,
<br />agreement, condition, provision, representation, or warranty contained in this
<br />Deed of Trust or any of the Loan Instruments.
<br />Ia. ACCGEhERATION UPON DEFAULT, ADDITIONAL - REMEDIES. Should an event of
<br />default occur„ Beneficiary may declare all indebtedness secured hereby to be due
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<br />and payable, and the same shall thereupon become due and payable without any
<br />presentment, demand, protest, or notice of any kind. Thereafter the Beneficiary
<br />may:
<br />(a) Pinter in person or by agent, with or without bringi#4 any action or
<br />proceeding,. by a receiver appointed by a court and without sgard to the
<br />ad64uaoy, of, fheir security, enter upon and take possession of :,..Trust Estate,
<br />or 'an7, part.:thereof, in their own name or in the name of Trustees,.. and do any
<br />acts whicb,; they deem necessary or desirable to preserve the va c marketability
<br />or rentab li#y of the Trust: Estate, or part thereof or interest..:i herein,
<br />increase the. income therefrom or protect the security hexeaf, #A ,with with or,.
<br />without taking possession of the Trust Estate, sue for or oth4z# lse coll the
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<br />rents, ivk,�:ryt.'and profits thereof, including those past due and:uiip id,
<br />apply tie.. same, less costs and expenses of operation and collection.; including.
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<br />attc i_y"'s lees, upon any indebtedness secured hereby, all in siidh order as
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<br />Beneficiary may determine. The entering upon and taking possession of the Trust
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<br />Est4te, the collection of such rents, issues and profits and the application
<br />thereof as aforesaid, shall not cure or waive any default or notice of default
<br />hereunder or invalidate any act done in response to such default or pursuant to
<br />such notice of default and, notwithstanding the continuance in possession. of the
<br />Trust Estate or the collection, receipt and application..: of rents, issues or
<br />profits, TLvztee or Beneficiary shall be entitled to exe41'cise every ri h.t
<br />provided fc� . fa any of the Loan Instruments or by law upon occ =... ee .of:
<br />event of 4dult, including the right_ to exercise the power of ffale;
<br />(1), �'� Cbnmence an action to foreclose this Deed of Trust as a mortgage,
<br />appnine 5$, . .rectaiver, or specifically enforce any of the covenants hereof;
<br />(c) Deliver to Trustee a written declaration of default and demand for
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<br />sale, and a written notice of default and election to cause Trustor's iiitt erest
<br />in the Trust Estate to be sold, which notice Trustee shall cause to be duly
<br />filed for record in the appropriate Official Records of the County in t1-.e
<br />Trust Estate is located.
<br />31. FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to foreclose
<br />by exercise of the Power of Sale herein contained, Beneficiary shall votify
<br />Trustee and shall deposit with Trustee this need of Trust and the Note and such
<br />receipts and evidence of expenditures made and secured hereby as Trustee may
<br />require.
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to
<br />be recorded, published and delivered to Trustor such Notice -of Default and
<br />Notice of Sale as then required by law and by this Deed of Trust. Trustee
<br />shall, without demand on Trustor, after such time as may then be required by law
<br />and after recordation of such Notice of Default and after Notice of Sale having
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<br />been given as required by law, sell the Trust Estate at the time and place of
<br />sale fixed by it in such Notice of Sale, either as a whole, or in separate lots
<br />or parcels or items as Trustee shall deem expedient, and in such order as it may
<br />determine, at public auction to the highest bidder for cash, if, lawful r�ney of
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<br />the United States, payable at the time of sale. Trustee shall deliver to such
<br />purchaser or purchasers thereof, its good and sufficient deed or deeds,
<br />Lconveying
<br />the property so sold, but without any covenant or warranty, express or
<br />implied. The recitals in such deed of any matters or facts shall be conclusive
<br />proof of the truthfulness thereof. Any person, including, without limitation,
<br />Trustor, Trustee, and Beneficiary, may purchase at such sale, and Trustor hereby
<br />covenants to warrant and defend the title cif. such purchaser or purchasers.
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