|
200111577
<br />1,11 r w „1 ul ,•fir, 4101101 .&1 .111.1, hll1.',fl ul illy uu, r .. "1,.111 b,- ,
<br />W•„uu,: a h.:n tin like Irusl l.sl.►IC of any portion Iheleul u, 11114-1P'.1 Iheleul and ill, 1, r.r ,I,.u, .M.6.Iw,.. �•'
<br />41 o (l:ll:.l :.le d, hnlldl:d. S.1lISl,l:d, V.►C.11 l: 11 ,)1 %1•1yed W11hUl iuly Ihl)1 ,l lr'. .Il lfr, .1 ,•,.tf _,,, 1. '
<br />11:1 Ihere has occurred .1 bleach of or delaul( under .illy lelnl, covcflanl, a illr:.:ntill%I. r.w1.61,u,. tu, +,•
<br />wplesentatlun of walrarlly contained u' any pilot deed of (rust or n►utlgage allectlnrl the 114)s1 L:.1.►llr
<br />lu Acc'ulurariun upon !)o/aul(: Additional lfun)udius. 11 an evenl of del.►ull ul.t.4lls• llenellc,ary may dcel.k.,;
<br />J ul,:7nc:.s secured hereby tO be due and payable and the same shall thereupon beconu: duv: and payable
<br />DI-' Cl flan, demand. protest or notice of any kind. Ihelealler, tleneficlary may:
<br />W either u' person or by agent, with or without bringing any action or ploc.eedull�, Of by a receiver
<br />by a coon acrd vntllout regard to the adequacy of as security, enter upun and take pussessrun Of the bust [slate.
<br />part thereol, irk Its own name or in the name of I fustee, and do any acts which it deems necessary or desuable to
<br />life value, marketability ur rentability of (he Trust Estate, or part thereof or interest tllerekn, increase the income their.•.;
<br />Of protect like security hereol and, will' or without taking possession of the Trust Estate, sue fur or uthe, vise eoc_• -• •-
<br />rents, issues arid profits thereof, includin<J those past due and unpaid, and apply the same, less cusu and e, pe;.-
<br />operaliun arK1 cu111 ction including attorneys' lees, upun any ulclebledness secured hereby• all ill such Order as Crncl.: a
<br />may detennlne. The entering upon and taking possession Of the Trust Estate, the collection of such rents, issues a-_
<br />Profits and the application thereol as aforesaid sl'all not cure or waive any default Of notice of default hereunCe
<br />invalidate any act done in response to such default or pursuant to such notice of default and• notwithstano,ni t -_
<br />contirkuance in possession of the Trust Estate or the collection, receipt and application of rents, issues or profits. Trustee
<br />Of Beneficiary shall been entitled to exercise every right provided for in any of the Loan Instruments or by law
<br />occurrence of any event of default, including the right to exercise the power of sale;
<br />fill commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver or specItr;.,
<br />enforce any of the covenants hereof;
<br />(iii) deliver to Trustee a written declaration of default and demand for sale and a written notice of default a-.z
<br />election to cause Trustor's interest in the Trust Estate to be sold, which nutice Trustee shall cause to be duly Idea !at
<br />record in the appropriate offices of the County in which the Trust Estate is located; or
<br />(iv) exercise such other rights or remedies at law or in equity.
<br />1
<br />1 1. Foreclosure by Power of Sale. It Beneficiary elects to foreclose by exercise of the Power of Sale herein contaf ; =o.
<br />Eeneliciary shall notify Trustee and shall deposit with Trustee this Second Deed of Trust and any note evidencing the Indebtec-ess
<br />a ,d such receipts and evidence of expenditures made and secured hereby as Trustee may require.
<br />(a) Upun receipt Of such nutice from Beneficiary, Trustee shall cause to be recorded, published and de! iv- ec
<br />to Trustur such tJotice of Default and Notice of Sale as then required by law and by this Second Deed of Trust. Tr,—
<br />shall, without demand on Trustor, after such time as may then be required by law and after recordation of such Notic= o'
<br />Default and after Notice of Sale having been given as required by law, sell the Trust Estate at the time and place of sate
<br />fixed by it in such flotice of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expea ent.
<br />and in such order as it may determine, at public auction to rite 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 thereof its good and sufficient deed o,
<br />deeds conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such Ceec
<br />Of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including withow hmitatior
<br />Trustor, Trustee or Beneficiary, may purchase at such sale.
<br />(bl As may be permitted by law, after deducting all costs, fees arid expenses of Trustee and of this Taus;
<br />including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of 11. the
<br />Indebtedness (ii) all other sums then secured hereby, and (iii) the remainder, it any, to the person of persons legally ent tlec
<br />thereto.
<br />(c) Trustee may in the manner provided by law postpone safe of all or any portion of the Trust Estate
<br />12. Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be entitled to enforce paymen; an
<br />performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Second Deed c
<br />Trust or under any loan Instrument or other agreement or any laws now or hereafter in force; notwithstanding, some or all of th
<br />suet, indebtedness arid obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of truss
<br />Pledge, lien, assignment or otherwise. 1,16ther the acceptance of this Second Deed of Trust nor its enforcement, whether by CO”'
<br />act.un or pursuant to the power of sale or other powers herein contained, shall prejudice or in any manner affect Trustee's l
<br />6ene116ary's right to rcal4LL upOn or enforce any other secmily now or hereafter held by Trustee of Beneficiary, it being agreed tl►.
<br />
|