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<br />(d) Trustor shall file a voluntary petition in bankruptcy or shall be adjudicated bankrupt or
<br />insolvent, or shall make an assignment for the benefit of creditors in respect to the Property; or
<br />an action to enforce any lien or encumbrance or judgments against the Property is commenced.
<br />12. Acceleration Upon Default. In the event of any default, Beneficiary may declare all indebtedness
<br />secured hereby to be due and payable, and the same shall thereupon become due and payable without
<br />any presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or by
<br />receiver appointed by a court and without regard to the adequacy of any security, enter upon and
<br />take possession of the Property, or any part thereof, in its own name or in the name of the
<br />Trustee, and do any acts which it deems necessary and desirable to preserve the value,
<br />marketability or rentability of the Property, or part thereof or interest therein, increase the
<br />income therefrom or protect the security hereof, and, without taking possession of the Property,
<br />sue for or otherwise collect the rents, issues and profits thereof, including those past due and
<br />unpaid, and apply the same, less costs and expenses of operation and collection, including
<br />attorney fees, upon any indebtedness secured hereby, all in such order as Beneficiary may
<br />determine. The entering upon and taking possession of the trust estate, the collection of such
<br />rents, issues and profits and application thereof as aforesaid shall not cure or waive any default
<br />or notice of default hereunder or invalidate any act and in response to such default or pursuant to
<br />such notice of default and, notwithstanding the continuance in possession of the Property or the
<br />collection, receipt and application of rents, issues or profits, Trustee or Beneficiary may be
<br />entitled to 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 sale;
<br />(b) Commence on action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or
<br />specifically enforce any of the covenants hereof;
<br />(c) Deliver to Trustee a written declaration of default and demand for sale, and a written
<br />notice of default and election to 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 of the county in which the
<br />Property is located.
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise of the power of
<br />sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee this Deed of Trust
<br />and the note and such receipts and evidence of expenditures made and secured hereby as Trustee may
<br />require, and upon request of the Beneficiary, the Trustee shall file for record, in the Register of Deeds
<br />office in the County where the Property is located, a notice of default, setting forth the name of the
<br />Trustor, the Book and Page or Document No. of this Deed of Trust as recorded in said Register of Deeds
<br />office, the legal description of the above described real estate and that a breach of an obligation, for
<br />which said real estate was conveyed as security, has occurred, and setting forth the nature of such breach
<br />and the Trustee's election to sell the real estate to satisfy the obligation; and after the lapse of not less
<br />than one (1) month, the Trustee shall give written notice of the time and place of sale which may be
<br />between 9:00 a.m. and 5:00 p.m. at the premises, or at the Courthouse in the County wherein such
<br />Property is located, describing the Property to be sold by its legal description, said notice to be published
<br />in a 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 thirty (30)
<br />days, prior to the sale; and the Trustee shall then sell said Property at the time and place designated in the
<br />notice, in the manner provided by law in effect at the time of filing said notice, at public auction to the
<br />highest bidder for cash and shall deliver to such purchaser a deed to the Property sold, consistent with
<br />the law in effect at the time.
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