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20040166.6
<br />1. This conveyance is made upon and subject to the further trust that the said Trustor shall remain
<br />in quiet and peaceable possession of the above granted and described premises and take the profits thereof to
<br />his own use until default be made in any payment of an installment due on said note or in the performance of
<br />any of the covenants or conditions contained therein or in this Deed of Trust; and, also to secure the
<br />reimbursement of the Beneficiary or any other holder of said note, the Trustee or any substitute trustee of any
<br />and all costs and expenses incurred, including reasonable attorney's fees, on account of any litigation which
<br />may arise with respect to this Trust or with respect to the indebtedness evidenced by said note, the protection
<br />and maintenance of the property hereinabove described or in obtaining possession of said property after any
<br />sale which may be made as hereinafter provided.
<br />2. Upon the full payment of the indebtedness evidenced by said note and the interest thereon, the
<br />payment of all other sums herein provided for, the repayment of all monies advanced or expended pursuant to
<br />said note or this instrument, and upon the payment of all other proper costs, charges, commissions, and
<br />expenses, the above described property shall be released and reconveyed to and at the cost of the Trustor.
<br />3, Upon default in any of the covenants or conditions of this instrument or of the note or loan
<br />agreement secured hereby, the Beneficiary or his assigns may without notice and without regard to the
<br />adequacy of security for the. indebtedness secured, either personally or by attorney or agent without bringing
<br />any action or proceeding, or by a receiver to be appointed by the court, enter upon and take possession of said
<br />property or any part thereof, and do any acts which Beneficiary deems proper to protect the security hereof,
<br />and either with or without taking possession of said property, collect and receive the rents, royalties, issues,
<br />and profits thereof, including rents accrued and unpaid, and apply the same, less costs of operation and
<br />collection; upon the indebtedness secured by this Deed of Trust, said rents, royalties, issues, and profits, being
<br />hereby assigned to the Beneficiary as further security for the payment of such indebtedness. Exercise of rights
<br />under this paragraph shall not cure or waive any default or notice of default hereunder or invalidate any act
<br />done pursuant to such notice but shall be cumulative to any right and remedy to declare a default and to cause
<br />notice of default to b e r ecorded a s h ereinafter p rovided, and c umulative t o a ny o ther r ight a nd/or r emedy
<br />hereunder, or provided by law, and may be exercised concurrently or independently. Expenses incurred by
<br />Beneficiary hereunder including reasonable attomey% fees shall be secured hereby.
<br />4. The Trustor covenants and agrees that if he shall fail to pay said indebtedness, or any part
<br />thereof, when due, or shall fail to perform any covenant or agreement of this instrument or of the promissory
<br />note secured hereby, the entire indebtedness hereby secured shall immediately become due, payable, and
<br />collectible at the option of the Beneficiary or assigns, regardless of maturity, and the Beneficiary or assigns
<br />may enter upon said property and collect the rents and profits thereof. Upon such default i n p ayment or
<br />performance, and before or after such entry,the Trustee, acting in the execution of this Trust, after the notice
<br />of default has been recorded, shall mail a copy of the default to each person who is a party to this instrument,
<br />at the address set out in this instrument, as well as to any person who has requested any notice of default and
<br />notice of sale by recording said request for notice with the register of deeds in the county in which this
<br />instrument is recorded, and after the lapse of time which is required by law after mailing the notice, the
<br />Trustee shall have the power to sell said property, and it shall be the Trustee's duty to sell said property (and in
<br />case of any default of any purchaser, to resell) at public auction, to the highest bidder, first giving five weeks'
<br />notice of the time, terms, and place of such sale, by advertisement not less than once during each of said five
<br />weeks in a newspaper published or distributed in the county or political subdivision in which said property is
<br />situated, and written notice of sale shall be mailed to each person who is a party to this instrument at the
<br />address set forth herein,(and the Beneficiary or any person on behalf of the Beneficiary may bid and purchase
<br />at such sale). Such sale will be held at a suitable place to be selected by the Beneficiary within said county or
<br />political subdivision. The Trustee is hereby authorized to execute and deliver to the purchaser at such sale a
<br />sufficient conveyance of said property, which conveyance shall contain recitals as to the happening of default
<br />upon which the execution of the power of sale herein granted depends; and the said Trustor hereby constitutes
<br />and appoints the Trustee as his agent and attomey in fact to make such recitals and to execute said conveyance
<br />and hereby covenants and agrees that the recitals so made shall be binding and conclusive upon the Trustor,
<br />and said conveyance shall be effectual to bar all equity or right of redemption, homestead, dower, right of
<br />appraisement, and all other rights and exemptions of the Trustor all of which are hereby expressly waived and
<br />conveyed to the Trustee. In the event of a sale as hereinabove provided, the Trustor or any person in
<br />possession under the Trustor, shall then become and be tenants holding over and shall forthwith- deliver
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