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<br />106761
<br />shall have occurred and be continuing. Beneficiary. as a a+atter of right nnd•withuut notice to Truster
<br />or sdyme, clataIng under Truster. and without regard to the value of the trust estnte tit, the interest of
<br />the Trustor therein, shall have the right to apply to any court having Jurisdiction to appoint a receiver
<br />of the property.
<br />10. Transfer of Property. it all or any part of the property or any interest of Trustor therein is
<br />sold. transferred or further encuabcred without the express or written consent of Beneficiory. Beneficiary
<br />may. at its sole option. declare all sums secured by this Deed of Trust to be immediately due and payable
<br />and proceed to the remedies available to it under the default provisions contained heroin.
<br />11, Events of Default. Any of tie following events shall be deemed an event of default hereunder:
<br />(a) Trustor shall have failed to make payment of arty installment of interests
<br />principal or principal and interest or any other sums secured hereby when dual
<br />(b) There has occurred a breach of or default under any term, covenant, agreement.
<br />condition, provision, representation or warranty contained in this Mod of Trust. the
<br />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 subsequent
<br />lien or encumbrance in respect to all or any part of tlta property;
<br />(d) Trustor shall file a voluntary petition in bankruptcy or shall be adjudicated
<br />bankrupt or insolveot. or shall make an assignment for the benefit of creditors in respect
<br />to the property: or tr.+ action to enforce any lion or encumbrance or judgments against the
<br />property is coacn -,4 .
<br />12. Acceleration l'pan G•efault- in the event of any default, Beneficiary may declare all indebted-
<br />ness secured hereby to be due and paya9Le, and the same shall thereupon become due and payable without
<br />tai rresentmen :, demand, prrstest'or notice of any kind, Thereafter. Beneficiary may:
<br />(a) either in person or by agent, with ar without bringing any action or ptoc•eefling.
<br />or by receiver appointed by a court and wl.t,1.z1jP regard to the adequacy of any security,
<br />enter upon and take possession of the property, or any part thereof, in its o%m at=.- or in ”
<br />the name of the Trustee, and do any acts which it deems necessary and des£ta'rLe to ireserve
<br />the value, marketability or rentability of the property, or partthereof or intet+e =_C therein,
<br />Increase the income therefrom er protect the security hereof and. without taking possession
<br />of the property. su.te for or otherwise collect the rents, issues and p r: °,its thereof, including
<br />those past due aai =, >aid. and apply the same, less costs and expensir, :f operation and collection.
<br />Including attorrra�- gees, upon any indebtedness secured hereby, all in such order as Beneficiary
<br />may determine. rn= entering upon and taking possession of the trust estate, the collection of
<br />such rents, issra: aid profits and application thereof as aforesaid shall not cure or waive any
<br />default or netice _zi default `,?rounder or invalidate any act and in response to such default or
<br />pursuant to s•.xt- Tjv ice of Cefaalt and, notwithstanding ;lie continuance in possession of the
<br />property or the c:L'ueztion. re,:etpt and application of rents, issues or profit::, trustee or
<br />Beneficiary may he .e =itled to exercise -zrnt -,_ right provided for in air, of the ::es> Snstruaiate
<br />or by law upon occ_rntmce of any event ct tie ault, including the rig' .t to exeref.w tie Fewac of
<br />sale;
<br />(b) commence ac action Ec foreclose this Deed of Trust as a mortgage, appo4cz a receiver,
<br />or specifically en., Tze any c: tie covenants hereof;
<br />(c) deliver to Trustee a written declaration of default and demand for sale. and a written
<br />notice of default and election to cause Truster's interest in the property to be sold, which
<br />notice Trustee s �i cause to be duly filed for record in the official records of ►_he rnpnty in
<br />which the property is located.
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise : the power of
<br />sale herein contained. Beneficiary shall notify Trustee and shall deposit with Trustee ty.t3 reed of Trust
<br />and the note and such receipts and evidence of expenditures made and secured hereby as Tr:a =t.ee may require,
<br />and upon request of the Beneficiary, the Trustee s3a11 file for record, in the Register o! Deeds office in
<br />the County where the property is located, a notice default, setting forth the name of the Trustor, :ire
<br />Book and Page or Document Flo. of this Deed of Trust as recorded in said Register of Deeds office, the legal
<br />description of the above - described real estate and that a breach of an obligation. for wb?eh said real
<br />estate was conveyed as security, has occurred, and setting forth the nature of such 3readi. and the Trustee's
<br />election to sell the real estate to satisfy the obligation; and after the lapse of not 2-et-:3 than one (1)
<br />month. the Trustee shall give written notice of the time and place of sale uliLcli may r:e T:o&tveen 9:00 a.m.
<br />and 5 p.m. at the premises, or at the Courthouse In the County wherein such rc:t r y is located. describing
<br />the property to be sold by its legal description. sai? notice to be publi; :ltral i, a ramspaper of general
<br />circulation in the County wherein such property is ;.:zated, once a week fcr EL,-.;e (5).citsecutive weeks, the
<br />last publicat'_cn to be at least ten (10) days. but act more t`..i'. chlrty (30) days. p:::: to the sale; and
<br />the Trustee 3 ^x :1 then sell said property at the tixe; and vlaze designated in the nctic =, in the manner pro-
<br />vided by law to effect at the time of filing said cYn:i:e, at Fubt'lc auction to the hiker= bidder for cash
<br />and shall deliver to such purchaser a deed to tho - r.. ;rerty sold, consistent with the law.in effect ac'u`te
<br />tLme.
<br />Upon receipt of payment of the price bid. Trustee shall deliver to the purchaser, Trustee's deed con-
<br />veying the property sold. Recitals is the Trustee's deed shall be prima facie evidence o* the truth of the
<br />statements made therein. Trustee shtrl apply the proceeds of the sale in the followlat= .3r- -er: (a) to all
<br />reasonable costs and expenses of the sate, including but not limited to, Trustee's fer__ ,f not more than
<br />2.0 X of the gross sale price, reasonable attorney fees and costs of title ei1,,!,a ce; (b) to all
<br />>.=s secured by this Deed of Trust; and (c) the ex:ess. if anv, to the Qerr >• :n. ^ersc.s legally entitled
<br />thereto. Any person. 1ncZ._:1.% Beneficiarv, mxr 7,r_"ase said property at _sY.a Sale.
<br />The person conductine cite sale nav, for anv c_cve b.e cr s'.e teens ex-effer. 7ostp"-•[,the sale fron time
<br />cc tine unt1:1 it shall be cc pieted ami. in zve r. t._ .. arc, m:t. of postpeneaenc : ;h.LL :e given by public
<br />declaration. tJtereof by such person at the time . _—d -dace last .I :oit,ted for the sale; hrovdded. if the sale
<br />1!3 postponed for long r rhan one r11 day beyond e:>> date designated in the notice of sale, notice thereof
<br />shall be given in the same manner as Lhe ariginaL r.,,rtce of sale.
<br />14. Remedies %ot Exclusive. rrustee and Beneficiarv, ana each of then, shall be entitled to enforce
<br />payment and performance of anv indebtedness or obligation secured hereby and to exercise all rights and
<br />powers under this Deed of Trust or under anv loan Instrument or other agreement or anv laws now or here-
<br />after enforced, notwithstandinz —me or all of rte indebtednesn and obliv.atlons • recured hereby which may now
<br />or hereafter be otherwise secured. whether by nortgace, deed of trust, pledtte, lien, a•:sicnnent or otherwise.
<br />"either the acceptance of this Decd of :rust nor its enforcement. uherher by court action or pursuant to the
<br />Power of sale or other power, herein contained. shall preiuitee ..r in anv manner .affect Trustee's or Bene-
<br />ficiarv', rizht to realize upon or enforce anv other - crt :rlry now or hereatter ',eid rru tce or Beneficiarv,
<br />it being; agreed that Trustee .ind Rencficiay.. ,,nJ va7h of them, ••halI :e ,r- tltled tr enforce iris Deed of
<br />Trust and anv ;ther securl *v now or hereafter held h•: the Reneficiary v :r,tite•e in .uch .order and manner •�Q
<br />then, or either of then. ^ay in their ab.,olute discretion determine. `•o r• -.•J: •term ..•r.ferred upon or re-
<br />served to Trustee t•r 8eneficfary is intended to '•e exelu.ive of anv ,,'.er r(-edv! --rein or by law provided
<br />or permitted, but each I,al' be (•cnulatia• and !.hnil he in -dditfcn tc ever•: t�.•r r.-•J= given hereunder or
<br />now or hereafter exltitfnr at law or to [quit v or bT- tit.itute•. Ever•: w,r -r r. , .;v,n by anv of the loan
<br />instrumenta t•, Irw.tee or PenefL Tan or to which eltfivr •f t`f.- -.r. !•e .:Ntwi•e catitle•d raw he vxerclged.
<br />concurrently or indcnendent I v, from t 1i7e to t ire• mi ati .-fr. n a, nav tit• d. -cd . x:.(-.I1vnt t y Trust. a .•r evne•-
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