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201806838
<br />11. Events of Default. Any of the following events shall be deemed an event of
<br />default hereunder:
<br />(a) Trustor shall have failed to make payment or any installment of interest,
<br />principal or principal and interest or any other sums secured hereby when due;
<br />(b) There has occurred a breach of or default under any term, covenant,
<br />agreement, condition, provision, representation or warranty contained in this Deed of
<br />Trust, the note or any other loan instrument secured hereby;
<br />(c) There has been a default by the Trustor in the payment of any prior or
<br />subsequent lien or encumbrance in respect to all or any part of the Property;
<br />(d) Trustor shall file a voluntary petition in bankruptcy or shall be adjudicated
<br />bankrupt or insolvent, or shall make an assignment for the benefit of creditors in respect
<br />to the Property; or an action to enforce any lien or encumbrance or judgments against the
<br />Property is commenced.
<br />12. Acceleration Upon Default. In the event of any default, Beneficiary may declare
<br />all indebtedness secured hereby to be due and payable, and the same shall thereupon become due
<br />and payable without any presentment, demand, protest or notice of any kind. Thereafter,
<br />Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action or
<br />proceeding, or by receiver appointed by a court and without regard to the
<br />adequacy of any security, enter upon and take possession of the Property, or any
<br />part thereof, in its own name or in the name of the Trustee, and do any acts which
<br />it deems necessary and desirable to preserve the value, marketability or rentability
<br />of the Property, or part thereof or interest therein, increase the income therefrom
<br />or protect the security hereof, and, without taking possession of the Property, sue
<br />for or otherwise collect the rents, issues and profits thereof, including those past
<br />due and unpaid, and apply the same, less costs and expenses of operation and
<br />collection, including attorney fees, upon any indebtedness secured hereby, all in
<br />such order as Beneficiary may determine. The entering upon and taking
<br />possession of the trust estate. the collection of such rents, issues and profits and
<br />application thereof as aforesaid shall not cure or waive any default or notice of
<br />default hereunder or invalidate any act and in response to such default or pursuant
<br />to such notice of default and, notwithstanding the continuance in possession of the
<br />Property or the collection, receipt and application of rents, issues or profits, Trus-
<br />tee or Beneficiary may be entitled to exercise every right provided for in any of
<br />the loan instruments or by law upon occurrence of any event of default, including
<br />the right to exercise the power of sale;
<br />(b) Commence on action to foreclose this Deed of Trust as a mortgage,
<br />appoint a receiver, or specifically enforce any of the covenants hereof;
<br />(c) Deliver to Trustee a written declaration of default and demand for
<br />sale, and a written notice of default and election to cause Trustor's interest in the
<br />Property to be sold, which notice Trustee shall cause to be duly filed for record in
<br />the official records of the county in which the Property is located.
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise
<br />of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with
<br />Trustee this Deed of Trust and the note and such receipts and evidence of expenditures made and
<br />secured hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall file
<br />for record, in the Register of Deeds office in the County where the Property is located, a notice
<br />of default, setting forth the name of the Trustor, the Book and Page or Document No. of this
<br />Deed of Trust as recorded in said Register of Deeds office, the legal description of the above-
<br />described real estate and that a breach of an obligation. for which said real estate was conveyed
<br />as security, has occurred, and setting forth the nature of such breach and the Trustee's election to
<br />sell the real estate to satisfy the obligation; and after the lapse of not less than one (1) month, the
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