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<br />ARTICLE III
<br />REMEDIES
<br />2021.)0002
<br />Upon the occurrence of any Event of Default, which is not cured within any
<br />applicable grace or curative period, Trustee and Beneficiary shall have the following
<br />rights and remedies:
<br />3.01 Acceleration. Beneficiary may, without further notice, declare the
<br />Obligations (even if not then due and payable), and all other sums secured by this Deed
<br />of Trust, to be due and payable immediately, and said sums shall thereupon become
<br />and be immediately due and payable without presentment, demand, protest or notice of
<br />any kind.
<br />3.02 Beneficiary Powers. Irrespective of whether Beneficiary exercises the
<br />option provided in Section 3.01 above, Beneficiary in person or by agent may, without
<br />any obligation so to do and without notice or demand upon Trustor and without
<br />releasing Trustor from any obligation hereunder: (i) make any payment or do any act
<br />which Trustor has failed to make or do; (ii) enter upon, take possession of, manage and
<br />operate the Property or any part thereof; (iii) exclude or evict Trustor from the Property;
<br />(iv) make or enforce, or, if the same be subject to modification or cancellation, modify or
<br />cancel any leases of the Property, or any part thereof, upon such terms or conditions as
<br />Beneficiary reasonably and in good faith deems proper; and (v) obtain and evict tenants,
<br />and fix or modify rents, make repairs and alterations and do any acts which Beneficiary
<br />deems proper to protect the security hereof. Upon request of Beneficiary, Trustor shall
<br />assemble and make available to Beneficiary at the Property any of the Property which
<br />has been removed therefrom. The entering upon and taking possession of the Property
<br />and the application thereof as aforesaid shall not cure or waive any default theretofore
<br />or thereafter occurring or affect any notice of default hereunder or invalidate any act
<br />done pursuant to any such notice. Trustee or Beneficiary shall be entitled, at their
<br />election and without notice, to the appointment of a receiver or receivers for the
<br />Property; provided, however, that any of the actions referred to in this Section 3.02 may
<br />be taken by Beneficiary, either in person or by agent, with or without bringing any action
<br />or proceeding, or by receiver, and any such action may also be taken irrespective of
<br />whether any notice of default or election to sell has been given hereunder and without
<br />regard to the adequacy of the security for the indebtedness hereby secured. Further,
<br />Beneficiary, at the expense of Trustor, either by purchase, repair or construction, may
<br />from time to time maintain and restore the Property, or any part thereof, and complete
<br />construction of the Improvements uncompleted as of the date thereof and in the course
<br />of such completion may make such changes in the contemplated Improvements as
<br />Beneficiary may deem desirable and may insure the same.
<br />3.03 Foreclosure. Beneficiary may bring an action in any court of competent
<br />jurisdiction to foreclose this Deed of Trust or to enforce any of the covenants and
<br />agreements hereof.
<br />3.04 Power to Sell. Beneficiary may elect to sell the Property, or any part
<br />thereof, as follows:
<br />(a) If Beneficiary elects to exercise its power of sale with respect to the
<br />Property, or any part thereof, Trustee shall record a notice of default in each
<br />county in which any part of such Property is located and shall mail copies of such
<br />notice in the manner prescribed by applicable law to Trustor and to other persons
<br />prescribed by applicable law. Trustee may sell the Property subject to this Deed
<br />of Trust as a group or individually, at the Beneficiary's sole discretion. After the
<br />time required by applicable law, Trustee shall give public notice of the sale to the
<br />persons and in the manner prescribed by applicable law. Trustee, without
<br />demand on Trustor, shall sell such Property at public auction to the highest
<br />bidder at the time and place and under the terms designated in the notice of sale
<br />in one or more parcels and in any order Trustee determines. Trustee may
<br />postpone sale of all or any parcel of the Property in accordance with the provisions
<br />of applicable law. Trustee, Beneficiary, or their designee, may purchase at any
<br />such sale. Upon receipt of the price bid, Trustee shall deliver to the purchaser a
<br />Trustee's deed conveying all of Trustor's rights in the Property that is sold. The
<br />recitals in the deed of any matter of fact shall be conclusive proof of the
<br />truthfulness thereof.
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