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200407501
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Last modified
10/16/2011 7:05:11 PM
Creation date
10/21/2005 3:04:31 AM
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DEEDS
Inst Number
200407501
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200407501 <br />(c) Except as provided in the Redevelopment Contract between Trustor and <br />Beneficiary dated the date hereof, Trustor shall sell or transfer all or any part of the Property <br />or an interest therein without Beneficiary's prior written consent. <br />10. Acceleration Upon Default, Additional Remedies. Should an event of default occur, <br />Beneficiary may declare all indebtedness secured hereby to be due and payable and the same shall <br />thereupon become due and payable without any presentment, demand, protest or notice of any kind. <br />Thereafter, Beneficiary may: <br />(a) Either in person or by agent, with or without bringing any action or proceeding, or <br />by a receiver appointed by a court and without regard to the adequacy of its security, enter <br />upon and take possession of the Trust Estate, or any part thereof, in its own name or in the <br />name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, <br />marketability or 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 of the <br />Trust Estate, sue for or otherwise collect the rents, issues and profits thereof, including those <br />past due and unpaid, and apply the same, less costs and expenses of operation and collection, <br />including attorneys' fees, upon any indebtedness secured hereby, all in such order as <br />Beneficiary may determine. The entering upon and taking possession the Trust Estate, the <br />collection of such rents, issues and profits, and the application thereof as aforesaid shall not <br />cure or waive any default or notice of default hereunder or invalidate any act done in response <br />to such default or pursuant to such notice of default and, notwithstanding the continuance in <br />possession of the Trust Estate or the collection, receipt and application of rents, issues or <br />profits, Trustee or Beneficiary shall be entitled to exercise every right provided for in any of <br />the Loan Instruments or by law upon occurrence of any event of default, including the right <br />to exercise the power of sale. <br />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a <br />receiver, or specifically enforce any of the covenants hereof. <br />(c) Deliver to Trustee a written declaration of default and demand for sale, and a <br />written notice of default and election to cause Trustor's interest in the Trust Estate to be sold, <br />which notice Trustee shall cause to be duly filed for record in the appropriate official records <br />of the county in which the Trust Estate is located. <br />11. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise of the <br />Power of Sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee this <br />Deed of Trust and the Note and such receipts and evidence of expenditures made and secured hereby <br />as Trustee may require. <br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded, <br />published and delivered to Trustor such Notice of Default and Notice of Sale as then required <br />by law and by this Deed of Trust. Trustee shall, without demand on Trustor, after such time <br />as may then be required by law and after recordation of such Notice of Default and after Notice <br />of Sale having been given as required by law, sell the Trust Estate at the time and place of sale <br />fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as <br />4 <br />
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