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200109054
<br />from the Property, including rents and income accrued but unpaid prior to the date of such default, and the
<br />receipt of Trustee or Grantee therefor shall be binding on Grantor with respect to the amount so paid. All
<br />sums of money received by Trustee or Grantee from rents and income, after deducting therefrom the
<br />reasonable charges and expenses paid or incurred in connection with the collection and disbursement
<br />thereof, shall be applied to the payment of the Obligations, or applied to remedy any default hereunder as
<br />Grantee may direct. Any lessee or sublessee of the Property, or any part thereof, shall be fully protected
<br />in relying and acting upon the written statement of Grantee to the effect that this Deed of Trust is in
<br />default and that Trustee or Grantee is entitled to receive the rents and income hereunder, notwithstanding
<br />any notice to or knowledge of said lessee or sublessee to the contrary. Such lessee or sublessee shall have
<br />no duty to determine that any sum paid to Trustee or Grantee hereunder is properly applied by Trustee or
<br />Grantee.
<br />5.03 Sale of Property. (a) Trustee, at the request of Grantee, shall exercise the power of
<br />sale granted herein and proceed to sell, either by himself or by agent or attorney, the Property or any part
<br />thereof at public venue or outcry to the highest bidder for cash at such time and place and upon such
<br />terms as it shall deem expedient, or as may be required by applicable law after first giving such notices,
<br />including notice of default and election to sell and notice of sale, as required by applicable law. Upon
<br />such sale Trustee shall receive the proceeds of such sale or sales and shall execute and deliver deed or
<br />deeds or other instruments of conveyance, assignment and transfer to the Property sold, to the purchaser
<br />or purchasers thereof.
<br />(b) Upon such sale or sales made by Trustee under the power herein granted, or upon
<br />any sale or sales under or by virtue of any judicial proceedings: (i) the whole of the Property, real,
<br />personal and mixed, may be sold in one parcel as an entirety, or the Property may be sold in separate
<br />parcels as may be determined by Trustee in his discretion; (ii) any deed or other instrument of
<br />conveyance, assignment or transfer made and delivered by Trustee in pursuance of the powers granted
<br />and conferred herein, and all recitals therein contained shall be prima facie evidence of the facts therein
<br />set forth; (iii) any such sale or sales shall operate to divest Grantor of all right, title, interest, claim and
<br />demand, either at law or in equity, under statute or otherwise, in and to the Property and every part thereof
<br />so sold and shall be a perpetual bar, both in law or equity, against Grantor and any and all persons
<br />claiming or to claim from, through or under Grantor; and (iv) at any such sale or sales Grantee may bid
<br />for and purchase the Property or any part thereof and may make payment therefor by credits against the
<br />Obligations.
<br />5.04 Foreclosure. (a) Trustee may proceed by suit or suits at law or in equity, as Trustee
<br />may be advised by counsel, to enforce the payment of the Obligations or to foreclose this Deed of Trust.
<br />In such event, Trustee shall be entitled to a reasonable fee for his services and the services of his attorneys
<br />and agents, and for all expenses, costs and outlays. Upon or at any time after the filing of any suit to
<br />foreclose the lien hereof, Trustee may seek the appointment of a receiver of the Property. Trustee, or
<br />Grantee, may be appointed as such receiver. Such receiver shall have full power to collect the rents,
<br />issues and profits from the Property and all other powers necessary or incidental for the protection,
<br />possession, control, management and operation of the Property.
<br />(b) Upon any foreclosure or sale of the Property, or any part thereof, the proceeds of
<br />such sale or sales shall be applied as follows:
<br />(1) If by exercise of the power of sale granted herein:
<br />(i) First, to the payment of all necessary costs and expenses of
<br />exercising the power of sale and of the sale, including the payment of the Trustee's fees actually incurred;
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