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(c) There has been a default by the Trustor in the payment of any prior
<br />or subsequent lien or encumbrance in respect to all or any part of the property;
<br />(d) Truster shall file a voluntary petition in bankruptcy or shell be
<br />adjudicated bankrupt or insolvent, or shall make an assignment for the benefit
<br />of creditors in respect to the property; or an act-ton to enforce any lien or
<br />encumbrance or judgments against the property Is commenced.
<br />12. Accolvration Upon Drfstlt. In the uvwnt of anv alefault, Beneficiary may declare all
<br />indebtednrom mt�cured hereby to be due and payable. and the now shall thereupon become due and
<br />payable without any presenteant. demand, protest or noticw of any kind. Thereafter, Beneficiary
<br />mays
<br />(a) either in person or by agent, with or without bringing any action or
<br />9o--- J05957
<br />proceeding, or by receiver appointed by a court and without regard to the adequacy
<br />in default with respect to payment of any indebtedness secured herebys or in the performance of
<br />any agreement hereunder. If any event of default described hereafter in respect to this Deed of
<br />Trust shall have occurred and be continuing, Beneficiary, as a matter of right and without notice ,
<br />In its own name or In the now of the Trustee, and do any acts which it deems necessary
<br />to Truster or anyone claiming under Trustor, and without regard to the value of the trust estate
<br />or the interest of the Trustor therein, shall have the right to apply to any court having juris-
<br />diction to appoint a receiver of the property.
<br />part thereof or interest therein, increase the income therefrom or protect the security
<br />10. Transfer of Property. It all or any part of the property or any interest of Truster
<br />is sold, transferred. or further encumbered without the express or written consent of
<br />therein
<br />Beneficiary, Beneficiary ratty, at its sole option, declare all sums secured by this Deed of Trust
<br />to be immadiately due and payable and proceed to the rowdies available to it under the default
<br />the rents. issues and profits thereof, including those past due and unpaid. and apply
<br />provisions contained herein.
<br />11. Events of Default. Any of the following events shall be deeaad an event of defastlt hers -
<br />uadert
<br />upon any indebtedness secured hereby, all in such order as Beneficiary may determine.
<br />(a) Truster shall have
<br />i
<br />interest, principal or principal and interest or any other sums secured
<br />hereby when due;
<br />rents, issues and profits and application thereof as aforesaid shall not cure u, waive
<br />(b) There has occurred a breach of or default under any term, covenant,
<br />agreement. condition, provision, representation or warranty contained in this
<br />such default or pursuant to such notice of default and, notwithstanding the continuance
<br />Deed of 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
<br />or subsequent lien or encumbrance in respect to all or any part of the property;
<br />(d) Truster shall file a voluntary petition in bankruptcy or shell be
<br />adjudicated bankrupt or insolvent, or shall make an assignment for the benefit
<br />of creditors in respect to the property; or an act-ton to enforce any lien or
<br />encumbrance or judgments against the property Is commenced.
<br />12. Accolvration Upon Drfstlt. In the uvwnt of anv alefault, Beneficiary may declare all
<br />indebtednrom mt�cured hereby to be due and payable. and the now shall thereupon become due and
<br />payable without any presenteant. demand, protest or noticw of any kind. Thereafter, Beneficiary
<br />mays
<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 adequacy
<br />of any security, enter upon and take possession of the property. or any part thereof,
<br />In its own name or In the now of the Trustee, and do any acts which it deems necessary
<br />and desirable to proserva the value, marketability or rentability of the property. or
<br />part thereof or interest therein, increase the income therefrom or protect the security
<br />hereof and, without taking possession of the property, sue for or otherwise collect
<br />the rents. issues and profits thereof, including those past due and unpaid. and apply
<br />the same, less costs and expenses of operation and collection, including attorney fees.
<br />upon any indebtedness secured hereby, all in such order as Beneficiary may determine.
<br />i
<br />The entering upon and taking possession of the trust estate, the collection of such
<br />rents, issues and profits and application thereof as aforesaid shall not cure u, waive
<br />any default or notice of default hereunder or invalidate any act and in response to
<br />such default or pursuant to such notice of default and, notwithstanding the continuance
<br />'
<br />in possession of the property or the collection, receipt and application of rents,
<br />issues or profits, Trustee or Beneficiary stay be entitled to exercise ovegy right pro -
<br />vided for in any of the loan instruments or by law upon occurrence of any event of
<br />default, including the right to exercise the power of sale;
<br />{
<br />(b) commence an action to foreclose this Deed of Trust as a mortgage, appoint a
<br />ireceiver,
<br />or specifically enforce any of the covenants hereo-f.:
<br />(c) deliver to Trustee a written declaration of default and demand for sale, and
<br />a written notice of default and election to cause Trustoe's interest in the property to
<br />be sold, which notice Trustee shall cause to be duly filed for record in the official
<br />j
<br />records of the county in which the property is located.
<br />13. Foreclosure by Power of Sale. S%ould Beneficiary elect -to foreclose by exercise of the
<br />power of sale herein contained, Beneficiary Bball notify 'Trustee and shall deposit with Trustee
<br />this Dead of Trust and the note and ouca receipts mad evidence of expenditures made and secured
<br />i
<br />hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall file for
<br />I
<br />record. in the Register of 'needs office in the County where the property is located, a notice of
<br />default, setting forth the name of the Truster, the hook and Page or Document Bo. of this Deed of
<br />Trust as recorded in said Regiater of Deeds office. the legal description of the above -deacribed
<br />real estate and that a breach of an obligation, for which said real estate was conveyed as security.
<br />1
<br />has occurred, and setting forth the nature of such breach and the Trustee's election to sell the
<br />'
<br />real estate to satisfy the obligation; and after the lapse of not less than one (1) month. the
<br />Trustee shall give written notice of the time and place of sale which may be between 9:00 a.m. and
<br />S p.m. at the premises, or at the Courthouse in the County wherein such property is located, de-
<br />scribing the property to be sold by its legal description, wail notice to be published in a news-
<br />paper of general circulation in the County wherein such property is located, once a week for five
<br />(S) consecutive weeks. the last publication to be at least ten (10) days, but not more than thirty
<br />(30) days. prior to the sale; and the Trustee shall then sell said property at the time and place
<br />designated In the notice, is the manner provided by law in effect at the time of filing said notice.
<br />at public auction to the highest bidder for cash and shall deliver to such purchaser a dead to the
<br />-IJ - -i-t =t Li.h t - 1... �- e f feet at th— i �
<br />;;Z-- ,.� j -.. .., ......- . .. = - _� -
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser, Trustee's
<br />deed conveying the property sold. Recitals in the Trustee's deed shall be prima facie evidence
<br />of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the
<br />following order: (a) to all reasonable costs and expenses of the sale, including but not limited
<br />to. Trustee's fees of not more than 2.b X of the gross sale price, reasonable attorney fees
<br />f
<br />and costs of title evidencel (b) to all sums secured by thin Deed of Trust; and (c) the excess. if
<br />'
<br />any, to the person or persons legally entitled thereto. Any person, including Beneficiary, say
<br />purchase said property at said sale.
<br />The person conducting the sale nary, for any cause he or she deems expedient, postpone the sale
<br />from time to time until it shall be completed and, in every such case. notice of postponement shall
<br />be given by public declaration thereof by such person at the time and place last appointed for the
<br />q
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<br />sale; provided, if the sale in postponed for longer than one (1) day beyond the date designated in
<br />the notice of sale. notice thereof shall be given in the same manner as the original notice of sale.
<br />14. Remedies Not Exclusive. Trustee and Beneficiary, and each of them, .shall be entitled to
<br />tf
<br />enforce payment and performance of any indebtedness or obligation secured hereby and to exercise
<br />all rights and powers under this Deed of Trust or under any loan instrument or other agreement or
<br />tttttWa
<br />any laws now or hereafter enforced, notwithstanding some .ir all of the• indebtedness and obligations
<br />secured hereby which may nov or hereafter be otherwise secured, whether by mortgage, deed of trust,
<br />i.
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