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<br />any part thereof, in its own name or in the name of Trustee, and do any acts which
<br />it deems necessary or desirable to preserve the value, marketability or rentability
<br />of the Trust Estate, or part thereof or interest therein, increase the income
<br />therefrom or protect the security hereof, and with or without taking possession of
<br />the Trust Estate, sue for or otherwise collect the rents, issues and profits thereof,
<br />including those past due and unpaid, and apply the same, less costs and expenses
<br />of operation and collection, including attorney's fees, upon any indebtedness
<br />secured hereby, all in such order as Beneficiary may determine. The entering
<br />upon and taking possession of the Trust Estate, the collection of such rents, issues
<br />and profits and the application thereof as aforesaid, shall not cure or waive any
<br />default or notice of default hereunder or invalidate any act done in response to
<br />such default or pursuant to such notice of default and, notwithstanding the
<br />continuance in possession of the Trust Estate or the collection, receipt and
<br />application of rents, issues or profits, Trustee or Beneficiary shall be entitled to
<br />exercise every right provided for in any of the Loan Instruments or by law upon
<br />occurrence of any event of default, including the right to exercise the power of
<br />sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage,
<br />appoint a receiver, or specifically enforce any of the covenants hereof;
<br />(c) Deliver to Trustee a written declaration of default and demand for sale,
<br />and a written notice of default and election to cause Trustor's interest in the Trust
<br />Estate to be sold, which notice Trustee shall cause to be duly filed for record in
<br />the appropriate Official Records of the County in which the Trust Estate is
<br />located.
<br />(d) In the event of default in payment of principal or interest after that 60
<br />day grace period from due date has elapsed, Beneficiary may, without further
<br />notice proceed with acceleration, foreclosure, power of sale, and any additional
<br />remedies available to Beneficiary as stated in Paragraphs 9, 10, and 11 of this
<br />Deed of Trust.
<br />10. FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to
<br />foreclose by exercise of the Power of Sale herein contained, Beneficiary shall notify Trustee and
<br />shall deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of
<br />expenditures made and secured hereby as Trustee may require.
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be
<br />recorded, published and delivered to Trustors such Notice of Default and Notice
<br />of Sale as then required by law and by this Deed of Trust. Trustee shall, without
<br />demand on Trustor, after such time as may then be required by law and after
<br />recording such Notice of Default and after Notice of Sale having been given as
<br />required by law, sell the Trust Estate at the time and place of sale fixed by it in
<br />such Notice of Sale, either as a whole, or in separate lots or parcels or items as
<br />Trustee shall deem expedient, and in such order as it may determine, at public
<br />auction to the highest bidder for cash, in lawful money of the United States,
<br />payable at the time of sale. Trustee shall deliver to such purchaser or purchasers
<br />thereof, its good and sufficient deed or deeds, conveying the property so sold, but
<br />without any covenant or warranty, express or implied. The recitals in such deed
<br />of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
<br />person, including, without limitation, Trustor, Trustee, and Beneficiary, may
<br />purchase at such sale, and Trustors hereby covenant to warrant and defend the
<br />title of such purchaser or purchasers.
<br />(b) As may be permitted by law, after deducting all costs, fees, expenses of
<br />Trustee and of this Trust, including costs of evidence of title in connection with
<br />sale, Trustee shall apply the proceeds of sale to payment of (I) all sums expended
<br />under the terms hereof, not then repaid, with accrued interest at ten (10%) percent
<br />per annum, (ii) all other sums then secured hereby, and (iii) the remainder, if any,
<br />to the person or persons legally entitled thereto.
<br />(c) Trustee may, in the manner provided by law, postpone sale of all or any
<br />portion of the Trust Estate.
<br />11. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of them,
<br />shall be entitled to enforce payment and performance of any indebtedness or obligations secured
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