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201806811
<br />Trust Estate, Beneficiary' may at its option declare the Indebtedness secured hereby immediately due and payable without any
<br />presentment, demand, protest or notice of any kind, whether or not any default exists. Beneficiary shall consent to a transfer of
<br />the Trust Estate tr a third party to the extent such third party meets the requirements contained in, and assumes the obligations set
<br />forth in the First Deed of Trust. The covenants contained herein shall run with the Property and shall remain in full force and
<br />effect until the Indebtedness is paid in full.
<br />due; or
<br />Events of Default. Any of the following events shall be deemed an event of default hereunder:
<br />(a) default shall he made in the payment of the Indebtedness or any other sum secured hereby when
<br />(h) Trustor shall perform any act in bankruptcy, or
<br />tc1 a court of competent jurisdiction shall enter an order. judgment or decree approving a petition tiled
<br />against Trustor seeking any reorganization, dissolution or similar relief under any present or future federal, state or
<br />other statute, law or regulation relanng to bankruptcy, insolvency or other relief for debtors. and such order, Judgment
<br />or decree shall remain unvacate.d and unstayed for an aggregate of sixty (60) days 1whether or not consecutive) from
<br />the first date of entry thereof; or any trustee, receiver or liquidator or Trustor or of all or any part of the Trust Estate, or
<br />of any or all of the royalties. revenues. rents, issues or profits thereof. shall he appointed without the consent or
<br />acquiescence of Trustor and such appointment shall remain unvacated and unstaged for an aggregate of sixty (60) days
<br />(whether or not consecutive); or
<br />(d) a writ of execution or attachment of any similar process shall be entered against Trustor which shall
<br />become a lien on the Trust Estate or any portion thereof or interest therein and such execution, attachment or similar
<br />process Of judgment is not released, bonded, satisfied, vacated or stayed within sixty (60) days after its entry or levy; or
<br />(e) there has occurred a breach of or default under any terns, covenant, agreement, condition,
<br />provision. representation or warranty contained in the First Deed of Trust or any prior deed of trust or mortgage
<br />affecting the Trust Estate.
<br />10. Acceleration upon Default; ,4dditional Remedies. if an event of default occurs. Beneficiary may declare the
<br />Indebtedness secured hereby to he due and payable and the same shall thereupon become due and payable without any
<br />presentment, demand, 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
<br />appointed by a court and without regard to the adequacy of its security. enter upon and take possession of the Trust
<br />Estate, or any part thereof. in its own name or in the name of Trustee, and do any acts which it deems necessary or
<br />desirable to preserve the value, marketability or rentability of the Trust Estate, or part thereof or interest therein,
<br />increase the income therefrom or protect the security hereof and, with or without taking possession of the Trust Estate,
<br />sue for or otherwise eolleet the rents, issues and profits thereof, including those past due and unpaid, and apply the
<br />same. less costs and expenses of operation and collection including attorneys. lees, upon any indebtedness secured
<br />hereby. all in such order as Beneficiary may determine. The entering upon and taking possession of the Trust Estate,
<br />the collection of such rents. issues and profits and the application thereof as aforesaid shall 001 cure or waive any
<br />default or notie.e of default hereunder or invalidate any act done in response to such default or pursuant to such notice
<br />of default and, notwithstanding the continuance in possession of the Trust Estate or the collection, receipt and
<br />application of rents, issues or profits. Trustee or Beneficiary shall been entitled to exercise every right provided for in
<br />any of the Loan Instruments or by law upon occurrence of any event of default. including the right to exercise the
<br />power of sale.
<br />(b) commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or
<br />specifically enforce any of the covenants hereof;
<br />(c) deliver to Trustee a written declaration of default and demand for sale and a written notice of
<br />default and election to cause Trustors interest in the Trust Estate to be sold, which notice Trustee shall cause to be duly
<br />filed fix record in the appropriate offices of the County in which the Trust Estate is located; or
<br />(d) exercise such other rights or remedies at law or in equity.
<br />11. Foreclosure by Power of Sale. If Beneficiary, elects to foreclose by exercise of the Power of Sale herein
<br />contained, Beneficiary shall notify Trustee and shall deposit with Trustee this Second Deed of Trust and any note evidencing the
<br />Indebtedness and such receipts and evidence of expenditures made and secured hereby as Trustee may require.
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<br />.W.6-5279-35712
<br />NIFA HBA Loan/Form H
<br />(10/2015)
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