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<br />perform under the terms of any of the Loan Instruments.
<br />8. EVENTS OF DEFAULT. Any of the following events shall be deemed an
<br />eventof default hereunder:
<br />(a) Trustors shall have failed to make payment of any installment of interest,
<br />principal or principal and interest or any other sum secured hereby when due; or,
<br />(b) There has occurred a breach or default under any term, covenant,
<br />agreement, condition, provision, representation, or warranty contained in any of
<br />the Loan Instruments.
<br />9. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should
<br />an event of default occur, Beneficiary shall give written notice to Trustors specifying the default,
<br />the action required to cure the default, a date not less than 60 days from the date of the notice by
<br />which the default must be cured, and that failure to cure the default on or before the specified
<br />date may result in acceleration of the entire sum secured by this Deed of Trust and resale of the
<br />property. Thereafter, the Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action or
<br />proceeding, or by a receiver appointed by a Court and without regard to the
<br />adequacy of its security, enter upon and take possession of the Trust Estate, or
<br />any part thereof, in its own name or in the name of Trustee, and do any acts
<br />which it deems necessary or desirable to preserve the value, marketability or
<br />rentability of the Trust Estate, or part thereof or interest therein, increase the
<br />income therefrom or protect the security hereof, and with or without taking possession
<br />of 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 of
<br />operation and collection, including attorney's fees, upon any indebtedness secured
<br />hereby, all in such order as Beneficiary may determine. The entering upon and taking
<br />possession of the Trust Estate, the collection of such rents, issuesand profits and the
<br />application thereof as aforesaid, shall not cure or waive any default or notice of default
<br />hereunder or invalidate any act done in response to such default or pursuant to such
<br />notice of default and, notwithstanding the continuance in possession of the Trust Estate
<br />or the collection, receipt and application of rents, issues or profits, Trustee or
<br />Beneficiary shall be entitled to exercise every right provided for in any of the Loan
<br />Instruments or by law upon occurrence of any event of default, including the right to
<br />exercise the power of 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
<br />TrustEstate to be sold, which notice Trustee shall cause to be duly filed for
<br />record in the appropriate Official Records of the County in which the Trust
<br />Estate is 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.
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