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200412132 <br />warranty contained in this Deed of Trust, the note or any other loan <br />instrument secured hereby; <br />(c) There has been a default by the Trustor in the <br />payment of any prior or subsequent lien or encumbrance in respect <br />to all or any part of the property; <br />(d) Trustor shall file a voluntary petition in bankruptcy <br />or shall be adjudicated bankrupt or insolvent, or shall make an as- <br />signment for the benefit of creditors in respect to the property; or <br />an action to enforce any lien or encumbrance or judgments against <br />the property is commenced. <br />12. Acceleration Upon Default. In the event of any default, Beneficiary may declare <br />all indebtedness secured hereby to be due and payable, and the same shall thereupon become due <br />and payable without any presentment, demand, protest or notice of any kind. Thereafter, <br />Beneficiary may: <br />(a) either in person or by agent, with or without bringing <br />any action or proceeding, or by receiver appointed by a court and <br />without regard to the adequacy of any security, enter upon and take <br />possession of the property, or any part thereof, in its own name or <br />in the name of the Trustee, and do any acts which it deems <br />necessary and desirable to preserve the value, marketability or <br />rentability of the property, or part thereof or interest therein, <br />increase the income therefrom or protect the security hereof, and, <br />without taking possession of the property, sue for or otherwise <br />collect the rents, issues and profits thereof, including those past <br />due and unpaid, and apply the same, less costs and expenses of <br />operation and collection, including attorney fees, upon any in- <br />debtedness secured hereby, all in such order as Beneficiary may <br />determine. The entering upon and taking possession of the trust <br />estate, the collection of such rents, issues and profits and <br />application thereof as aforesaid shall not cure or waive any default <br />or notice of default hereunder or invalidate any act and in response <br />to such default or pursuant to such notice of default and, notwith- <br />standing the continuance in possession of the property or the <br />collection, receipt and application of rents, issues or profits, Trus- <br />tee or Beneficiary may be entitled to exercise every right provided <br />for in any of the loan instruments or by law upon occurrence of <br />any event of default, including the right to exercise the power of <br />sale; <br />(b) commence an action to foreclose this Deed of Trust <br />as a mortgage, appoint a receiver, or specifically enforce any of the <br />covenants hereof, <br />(c) deliver to Trustee a written declaration of default <br />and demand for sale, and a written notice of default and election to <br />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 <br />of the county in which the property is located. <br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise <br />of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with <br />Trustee this Deed of Trust and the note and such receipts and evidence of expenditures made and <br />secured hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall file <br />for record, in the Register of Deeds office in the County where the property is located, a notice of <br />default, setting forth the name of the Trustor, the Book and Page or Document No. of this Deed <br />of Trust as recorded in said Register of Deeds office, the legal description of the above - described <br />real estate and that a breach of an obligation, for which said real estate was conveyed as security, <br />has occurred, and setting forth the nature of such breach and the Trustee's election to sell the real <br />estate to satisfy the obligation; and after the lapse of not less than one (1) month, the Trustee <br />shall give written notice of the time and place of sale which may be between 9:00 a.m. and 5:00 <br />p.m. at the premises, or at the Courthouse in the County wherein such property is located, <br />describing the property to be sold by its legal description, said notice to be published in a <br />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 <br />thirty (30) days, prior to the sale; and the Trustee shall then sell said property at the time and <br />place designated in the notice, in the manner provided by law in effect at the time of filing said <br />notice, at public auction to the highest bidder for cash and shall deliver to such purchaser a deed <br />to the property sold, consistent with the law in effect at the time. <br />