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202001440
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Last modified
3/4/2020 1:40:51 PM
Creation date
3/4/2020 1:40:51 PM
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DEEDS
Inst Number
202001440
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2020;1440 <br />a.) Any default of a term or condition within the Promissory Note which this <br />DOT secures; <br />b.) Trustor has, at any time within negotiations leading to the execution of this DOT, <br />given any materially false, misleading, or inaccurate information or statements, which <br />induced the Lender to loan money and enter into this Security Instrument; <br />c.) Trustor shall have failed to perform any covenant required by Beneficiary to be <br />performed herein. Beneficiary may elect to give Trustor written notice of any failure of <br />Trustor to perform covenants hereunder, after which Trustor shall have 30 days after <br />such written notice from Beneficiary to Trustor to perform. However, the Beneficiary is <br />not obliged to give this notice as the Trustor is responsible to perform the covenants, <br />herein, without notice; or <br />d.) Trustor shall have failed to pay any money as required in the Promissory Note which <br />is secured by this DOT, on or before 10 days after such payment of money is required. <br />VI. Acceleration: Should an event of Default occur, the Beneficiary may accelerate the total <br />amounts owed under the promissory note to be due and owning immediately and thereafter, <br />do any of the following, either by itself or in combination thereof: <br />a.) Either in person or by agent, with or without bringing any action or <br />proceeding or by a receiver appointed by a court and without regard to the adequacy of <br />trust property, enter upon and take possession of the Property, or any part thereof, in <br />Beneficiary's own name or in the name of Trustee, and do any acts which Beneficiary <br />deems necessary or desirable to preserve the value, marketability or rentability of the <br />Property, or any part thereof, or interest therein; increase the income therefrom or <br />protect the trust property thereof, and with or without taking possession of the <br />Property, sue for or otherwise collect the rents, issues and profits thereof, including <br />those, past due and unpaid, and apply the same, less costs and expenses of operation <br />and collection, including attorney's fees, if permitted, on any indebtedness secured <br />hereby, all in such order as Beneficiary may determine. The entering upon and taking <br />possession of the Property, the collection of such rents, issues and profits and the <br />application thereof shall not cure or waive any default or notice of default hereunder, or <br />invalidate any act done in response to such default or pursuant to such notice of default <br />and, notwithstanding the continuance in possession of the Property or the collection, <br />receipt and application of rents, issues or profits, Trustee or Beneficiary shall be entitled <br />to exercise every right provided for in the DOT or Note, or by law on occurrence of any <br />event of default, including the right to exercise the Power of Sale; <br />b.) Commence an action to foreclose this DOT as a mortgage, to seek deficiency on the <br />indebtedness after foreclosure, to appoint a receiver, and to otherwise specifically <br />enforce any of the covenants or provisions hereof; <br />3 <br />
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