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202204252
<br />be immediately due and payable and proceed to the remedies available to it under the default
<br />provisions contained herein.
<br />11.
<br />hereunder:
<br />Events of Default. Any of the following events shall be deemed an event of default
<br />(a) Trustor shall have failed to make payment or any installment of principal or
<br />any other sums secured hereby when due;
<br />(b) There has occurred a breach of or default under any term, covenant,
<br />agreement, condition, provision, representation or warranty contained in this Deed of Trust,
<br />the 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 subse-
<br />quent lien or encumbrance in respect to all or any part of the Property; or
<br />(d) Trustor shall file a voluntary petition in bankruptcy or shall be adjudicated
<br />bankrupt or insolvent, or shall make an assignment for the benefit of creditors in respect to
<br />the Property; or an action to enforce any lien or encumbrance or judgment against the
<br />Property is commenced.
<br />12. Acceleration Upon Default. In the event of any default, Beneficiary may declare
<br />all indebtedness secured hereby to be due and payable, and the same shall thereupon become due
<br />and payable without any presentment, demand, protest or notice of any kind. Thereafter,
<br />Beneficiary may:
<br />(a) either in person or by agent, with or without bringing any action or
<br />proceeding, or by receiver appointed by a court and without regard to the adequacy of any
<br />security, enter upon and take possession of the Property, or any part thereof, in its own
<br />name or in the name of the Trustee, and do any acts which it deems necessary and desirable
<br />to preserve the value, marketability or rentability of the Property, or part thereof or interest
<br />therein, increase the income therefrom or protect the security hereof, and, without taking
<br />possession of the Property, 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 of
<br />operation and collection, including attorney fees, upon any indebtedness secured hereby,
<br />all in such order as Beneficiary may determine. The entering upon and taking possession
<br />of the trust estate, the collection of such rents, issues and profits and application thereof as
<br />aforesaid shall not cure or waive any default or notice of default hereunder or invalidate
<br />any act and in response to such default or pursuant to such notice of default and, notwith-
<br />standing the continuance in possession of the Property or the collection, receipt and ap-
<br />plication of rents, issues or profits, Trustee or Beneficiary may be entitled to exercise every
<br />right provided for in any of the Loan Instruments or by law upon occurrence of any event
<br />of default, including the right to exercise the power of sale;
<br />(b) commence an action to foreclose this Deed of Trust as a mortgage, appoint
<br />a receiver, or specifically enforce any of the covenants hereof; or
<br />(c) deliver to Trustee a written declaration of default and demand for sale, and
<br />a written notice of default and election to cause Trustor's interest in the Property to be sold,
<br />which notice Trustee shall cause to be duly filed for record in the official records of the
<br />county in which the Property is located.
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise of
<br />the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee
<br />this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured
<br />hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall file for rec-
<br />ord, in the Register of Deeds office in the County where the Property is located, a notice of default,
<br />setting forth the name of the Trustor, the Book and Page or Instrument No. of this Deed of Trust
<br />as recorded in said Register of Deeds office, the legal description of the above-described real estate
<br />and that a breach of an obligation, for which said real estate was conveyed as security, has
<br />occurred, and setting forth the nature of such breach and the Trustee's election to sell the real estate
<br />to satisfy the obligation; and after the lapse of not less than two (2) months, the Trustee shall give
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