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200008501
<br />7. INSPECTIONS_ Beneficiary, or their agents, representatives or workmen, are
<br />authorized to enter at any reasonable time upon or in any part of the Trust Estate for the
<br />purpose of inspecting the same and for the purpose of performing any of the acts it is
<br />authorized to perform under the terms of any of the Loan Instruments.
<br />8. 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 of any installment of interest,
<br />principal, or principal and interest or any other sum secured hereby when due; or,
<br />(b) There has occurred a breach or default under any term, covenant, agreement,
<br />condition, provision, representation, or warranty contained in any of the Loan
<br />Instruments.
<br />9. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES_ Should an event
<br />of default occur, Beneficiary may declare all indebtedness secured hereby to be due and
<br />payable, and the same shall thereupon become due and payable without any presentment,
<br />demand, protest, or notice of any kind. Thereafter the Beneficiary may:
<br />(a) Either in person or by agent; with or without bringing any action or proceeding,
<br />or by a receiver appointed by a Court and without regard to the adequacy of its security,
<br />enter upon and take possession of the Trust Estate, or any part thereof, in its own name
<br />or in the name of Trustee, and do any acts which it deems necessary or desirable to
<br />preserve the value, marketability or rentability of the Trust Estate, or part thereof or
<br />interest therein, increase the income therefrom or protect the security hereof, and with or
<br />without taking possession of the Trust Estate, sue for or otherwise collect the rents, issues
<br />and profits thereof, including those past due and unpaid, and apply the same, less costs
<br />and expenses of operation and collection, including attorney's fees, upon any
<br />indebtedness secured hereby, all in such order as Beneficiary may determine. The
<br />entering upon and taking possession of the Trust Estate, the collection of such rents,
<br />issues and profits and the applicatioq thereof as aforesaid, shall not cure or waive any
<br />default or notice of default hereunder or invalidate any act done in response to such
<br />default or pursuant to such notice of default and, notwithstanding the continuance in
<br />possession of the Trust Estate or the collection, receipt and application of rents, issues or
<br />profits, Trustee or Beneficiary shall be entitled to exercise every right provided for in any
<br />of the Loan Instruments or by law upon occurrence of any event of default, including the
<br />right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a
<br />receiver, or specifically enforce any of the covenants hereof;
<br />(c) Deliver to Trustee a written declaration of default and demand for sale, and a
<br />written notice of default and election to cause Trustor's interest in the Trust Estate to be
<br />sold, which notice Trustee shall cause to be duly filed for record in the appropriate Official
<br />Records of the County in which the Trust Estate is located.
<br />(d) In the event of default in payment of principal or interest after that 60 day grace
<br />period from due date has elapsed, Beneficiary may, without further notice proceed with
<br />acceleration, foreclosure, power of sale, and any additional remedies available to
<br />Beneficiary as stated in Paragraphs 9, 10, and 11 of this Deed of Trust.
<br />10. FORECLOSURE BY POWER OF SALE_ Should Beneficiary elect to foreclose
<br />by exercise of the Power of Sale herein contained, Beneficiary shall notify Trustee and
<br />shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence
<br />of expenditures made and secured hereby as Trustee may require.
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be
<br />recorded, published and delivered to Trustor such Notice of Default and Notice of Sale as
<br />then required by law and by this Deed of Trust. Trustee shall, without demand on
<br />Trustor, after such time as may then be required by law and after recordation of such
<br />Notice of Default and after Notice of Sale having been given as required by law, sell the
<br />Trust Estate at the time and place of sale fixed by it in such Notice of Sale, either as a
<br />whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such
<br />order as it may determine, at public auction to the highest bidder for cash, in lawful
<br />money of the United States, payable at the time of sale. Trustee shall deliver to such
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