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°E-RECORDE02 022044306445 3
<br />(b) commence on action to foreclose this Deed of Trust
<br />as a mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants hereof;
<br />(c) deliver to Trustee a written declaration of default
<br />and demand for sale, and a written notice of default and election to
<br />cause Trustor's interest in the property to be sold, which notice
<br />Trustee shall cause to be duly filed for record in the official records
<br />of the county in which the property is located.
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise
<br />of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with
<br />Trustee this Deed of Trust and the note and such receipts and evidence of expenditures made and
<br />secured hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall file
<br />for record, in the Register of Deeds office in the County where the property is located, a notice of
<br />default, setting forth the name of the Trustor, the Book and Page or Document No. of this Deed
<br />of Trust as recorded in said Register of Deeds office, the legal description of the above-described
<br />real estate and that a breach of an obligation, for which said real estate was conveyed as security,
<br />has occurred, and setting forth the nature of such breach and the Trustee's election to sell the real
<br />estate to satisfy the obligation; and after the lapse of not less than one (1) month, the Trustee
<br />shall give written notice of the time and place of sale which may be between 9:00 a.m. and 5:00
<br />p.m. at the premises, or at the Courthouse in the County wherein such property is located,
<br />describing the property to be sold by its legal description, said notice to be published in a
<br />newspaper of general circulation in the County wherein such property is located, once a week for
<br />five (5) consecutive weeks, the last publication to be at least ten (10) days, but not more than
<br />thirty (30) days, prior to the sale; and the Trustee shall then sell said property at the time and
<br />place designated in the notice, in the manner provided by law in effect at the time of filing said
<br />notice, at public auction to the highest bidder for cash and shall deliver to such purchaser a deed
<br />to the property sold, consistent with the law in effect at the time.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser, Trustee's
<br />deed conveying the property sold. Recitals in the Trustee's deed shall be prima facie evidence of
<br />the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the
<br />following order: (a) to all reasonable costs and expenses of the sale, including but not limited to,
<br />Trustee's fees of not more than 1.5% of the gross sale price, reasonable attorney fees and costs of
<br />title evidence; (b) to all sums secured by this Deed of Trust; and (c) the excess, if any, to the
<br />person or persons legally entitled thereto. Any person, including Beneficiary, may purchase said
<br />property at said sale.
<br />The person conducting the sale may, for any cause he or she deems expedient, postpone
<br />the sale from time to time until it shall be completed and, in every such case, notice of postpone-
<br />ment shall be given by public declaration thereof by such person at the time and place last
<br />appointed for the sale; provided, if the sale is postponed for longer than one (1) day beyond the
<br />date designated in the notice of sale, notice thereof shall be given in the same manner as the
<br />original notice of sale.
<br />14. Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be
<br />entitled to enforce payment and performance of any indebtedness or obligation secured hereby
<br />and to exercise all rights and powers under this Deed of Trust or under any loan instrument or
<br />other agreement or any laws nor or hereafter enforced, notwithstanding some or all of the
<br />indebtedness and obligations secured hereby which may now or hereafter be otherwise secured,
<br />whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the
<br />acceptance of this Deed of Trust nor its enforcement, whether by court action or pursuant to the
<br />power of sale or other powers herein contained, shall prejudice or in any manner affect Trustee's
<br />or Beneficiary's right to realize upon or enforce any other security now or hereafter held by
<br />Trustee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of them, shall be
<br />entitled to enforce this Deed of Trust and any other security now or hereafter held by the
<br />Beneficiary or Trustee in such order and manner as they, or either of them, may in their absolute
<br />discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiary is
<br />intended to be exclusive of any other remedy herein or by law provided or permitted, but each
<br />shall be cumulative and shall be in addition to every other remedy given hereunder or now or
<br />hereafter existing at law or in equity or by statute. Every power or remedy given by any of the
<br />loan instruments to Trustee or Beneficiary or to which either of them may be otherwise entitled
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