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�f.
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<br />89-= 103304
<br />(b) There has occurred a bre.7ch of or default under any
<br />term, covenant, agreement, condition, provision, repreycntation
<br />�• or warranty contained in this Deed of 'Trust, the note or any
<br />other loan instrument secured hereby;
<br />(o) 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 benefit of creditors in re-
<br />spect to the property; or an action to enforce any lien or encum-
<br />brance or judgments against the property is commneed.
<br />11. 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,protesi or notice
<br />of any kind. Thereafter, Beneficiary may.
<br />(a) either 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 toIthe 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 any acts which
<br />it .-deems necessary ans desirable to preserve the value, market
<br />-
<br />abi.lity or rentability of the property,, or part thereof or inter -
<br />est therein, increase the income therefrom or protect the security.
<br />heribof and, without taking possession of the property, sue for
<br />or 'otherwise collect the rents, issues and profits thereof, in-
<br />cluding those past due and unpaid, and apply the same, less costs
<br />_- and - expanses. of operation -and collection, including, attorney
<br />fees, upon any indebtedness secured hereby, all in such: order
<br />as ,Oeneficiary may determine. The entering upon and'taking.pos-
<br />se6sion of the trust estate, the collection of such rents, issues
<br />and profits and application thereof as aforesaid shall not cure
<br />or waive a4ny, default or notice . of default hereunder or invalidate
<br />any act and-An response to such default or 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, Trusts %e cr 1.6enefioiary may be entitled
<br />to exercise- "every right provided for in any of the loan instru-
<br />ments or tz law upon occurence of any event of default, including
<br />the .right ta•exercise the power of sale;
<br />(b) commence .-an action to foreclose. this Deed of Trust
<br />as a mortgage, appoint a receiver, or specifically enforce any
<br />of..the covenants hereof;
<br />(c) deliver to Trustee a written declaration of default
<br />and demand. "for sale, and a written notice of default and elect.icn
<br />to. cause ?rustor's interest in the property"to be sold, which
<br />notice Trustee shakil. cause to be duly filed 'for record in the
<br />official records -f the county in which the property is' Located.
<br />12. Foreclosure by Pbwer of Sale. Should Bendf"iclary elect: to forecTQSe,- by
<br />exercise of the power of sale herein contained, Ber%ifl�i.ary'. shall notify T,r�atee
<br />and shall deposit with Trustee this Deed of Trust and the Jlote 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 file for record, in the County
<br />where the property is located, a notice of default, 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 />County, the legal description of the above- described real estate and that a breach
<br />of an obligation, for which said real estate was conveyed as security, has occurred,
<br />and setting forth the nature of such breach and the Trustee's election to sell the
<br />real estate to satisfy the obligation and shall mail copies of such notice in the
<br />manner prescribed by appli.catii� raw tc, T rust ar and to nuch other ,: orson� pre =ribed
<br />Lby applicable law. Af ter the lapse of such time as may be required by applicable
<br />law, the Trustee shall give written notice of the time and place of sale to the per-
<br />sons and in the manner prescribed by appl i.r.ahle lam, descri.birng the of r,pl,rty to he
<br />sold by its legal r1PF-d'ript.inn, said r,ntice to be Gubli,,hcd in i twspaper of
<br />general circulation in the County wr.eruin Jrh r,I'•i)Prty loc"O!'d, ii the ti-,111-1
<br />and in the f;ishion reo•iirF,d by arjrilir.,jW 1,--); .r i" ; •� tr..r t.,,il �' f 11 +i +t
<br />prccor rty at the time find pJaci.'
<br />law in 0 fu�f_t at t l,r `.in:,' of f i J
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