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<br /> l6. Thc Beneficiary may. but shall havc no obligation to, do any act which Trustors havc agrccd but failGd to do, and the � .
<br /> ! Bcncficinry may also do any nct it decros nccessary�to protcct the licn hcrcoL Trustors ngccc to rcpay. upon dcmund,any s�uns so
<br /> oxpended by the Benefic�ary for the nbove pwposes,and uny sum so expendcd sliall be added to the indebtedness secured hereby and
<br /> . bcxome secured by thc lien hereof. The Beneticiary shall no incur any liability because of unything it may do or omit to do
<br /> hercundcr. • �
<br /> ?. Thc Bct►cftciaty shall havc lhc nght. powcr and authoitity durirag thc continuancc oi this Dccd of Ttust to collcct thc rcnts.
<br /> is.sucs�nd proRts of the properry and of any persunul ProPcc►Y la�ned theteon with or withoat taking possession of tha praperty
<br /> a�ccted hereby,and Tn��tors hereby absolutcly and unconditionally assign all such renls,issues and profits to the bcncficiury. The
<br /> beneftciary,hoN•ever, hereby consents to Trustors'collcetian and retenuon af such rents,issucs and profits,so long as Tnisiars are � .
<br /> . not. At such time, in default�vith respect to payment of any indebtedness securod hereby.or in the pedormance of any agreement
<br /> � hereundcr. If any cvent of default dcscdbed hcreafter in respat to this Uecd of Trust shall huve oa�urrcd And be coatinuing,the
<br /> _ Bcneficiary,as a mattcr of ri�ht and without notice to Tnistors or arrvonc claiming undcr Tn�stors,and�vithout rcgcud to thc vatuc of
<br /> thc trust cstAte or thc intcresl of thc Tn�stors therein,shall ha��e the nght to npply to any coun having jurisdiction to appoint a
<br /> rexivcr of thc ptoperty. ,, ,
<br /> . ' S. '1'he Beneficisuy. or its agents, are autho Snxedito ��t�ng��af thcaacts they ara authariuued o perform undcr 1h�frms of
<br /> , ,, piupose of inspocting the same and for the pwpo pe `'','
<br /> • any loan instruments esecuted by Tnistors.
<br /> 9. If alt or any part of thc property or any imerest of Trustors is sold.t�tsforred ar fttnher encumbeted�+nthout ttta written ` '
<br /> consent of the Bencficiary,the Seneficiary mxy declACO all sams secured by this Trust Dced to be immedintaly dua and payable and
<br /> � proceed to the mmedics available to it under the default provisions contained herain. „ _ ., .
<br /> � Ill. Any of the foltowing events shall be deemed an e�'ent of default hereunder: . .. .
<br /> . a. Tnutors shall have failed to make payment of any installment of principal or interest or any other sums secwed herelsy when 7. �
<br />' dua: �
<br /> b. There has occurred a breach of or default under any term, covenant, agreement, candition, provision, representation or
<br /> a�arranty contained in this Dced of Trust,the note or any othcr loan instnuncnt secured hereby: -•
<br /> ' ¢, There has been a dcfault by the Tn+stors in the payment of any prior or subsequent tien or encumbrance in respett to all or any
<br /> � part of the property: , 1 . ' `
<br /> d. Tnistors shall file a voluntary petltion in bankr�ptcy or shall be adjudicated bankrupt or insolvent, or shall make an ��� �-
<br /> assignment for the benefit of creditors in respect to the propecty:or an action to enforce any lien or encumbrance or judgments
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<br /> ' against the property is cammenced. able and the same '�"'+ �� '�
<br />° 1 i. In the event of airy default,the Beneficiary may declare all indebtedi►ess sc�ucd hereby to be due and pay , �,
<br /> resentrncnt,demand,protest or notice of airy kind. ThereaRer,the Beneficiary r,, . � • ;
<br /> ::, shall thereupon b e c ame due an d pay a b t e w i:haui an 3�p -
<br /> '�'d 7i
<br /> �Y� p '••.` ' ,;�i;:�;
<br />- a. either in petson or by agoni, with or�vithout bringing any action ot procec�ing, or by receiver a pointed by a court an d , ��
<br /> enter u n nnd take ssession of the property,or any part d►ereof,in its o�vn �;, �,.���,
<br /> � withont regazd to the adequacy of any securitY. P� P°
<br /> . namc or in the name of the Tmstee, and do any acts �vhich it decros n�'�Y �e��me therefrom or pr tect the ��;i``.`: , ��}��y
<br /> �'`:":;,.. r �.
<br /> - marlcetabiliry or rentabllity of the property. or part thcre�f,or interest therein,increase ,' �
<br /> �� security hereof and,without taking possession of tl�e property,sue for or othenvise coUect the rents,issues and pmfits thereof, ,r + ;
<br /> inc(udin$ thoscs past due and unpaid and apply the samc.less costs and expenses of operation und collection. including
<br /> attorney fea,npon any indebtedness secured hereby, all in such order as the Beneficiary may determine. The entering upon � �
<br /> � • and taking possession of the trust estete,the collextion of wch rents,issues and profits and application theteof as aforesaid .
<br /> shaU not cure or waive any default or notice of default hereunder or imalidate any act and in response to such defnult or ,��� �___
<br /> '' p or the wllection.reoeiPt ,..,, ,
<br /> :��• "� ursuant to such notice of default and notwithstanding the continuanx in possession of the property �r..-�'�"
<br /> � ' and application of rents,issues or prafits,Tn�stee or the Beneficiary may be entitled to exerclse every right provided for in any _____
<br /> ' of the loan insuuments or by law upon occurcence of any cvent of defaul�includinII the right to exerdse the power of sale; r`�;�•
<br /> . � b, �ommenee an action to foreclose this Decd of Tnut as a mongagP, ttppoint a receiver. ot specifically enfotce any of the � ,. :i,!s,,
<br /> � ���� � oovenaats hereof; + r ~ ��
<br />- "� � e. detiver to Trustee a written declaraaon of default and demand for sale,and written noticc of default and efection to cause �wz
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<br />- � Tcustors' interest in the pmpercy tu be sold,which notice Tmstce shall cause to be duly filedfor record in the o�etal records ";ti.��; : ,�;yy:,:
<br /> � of the rnunry in which the properry is located. „ :'}�F�;,
<br />-' ...'' 12. ShoWd the Beneficiary elect to foreclose by exercise of the power of sele herein conuuned,the Beneticiary shail notify Tn�stee
<br /> . . _ ..nditures mnde and se��red _;;,,�.. .:.... ._"� ,_.
<br /> � s and shall deposit with Tn�stee this I�d of'Teust and Q►a iwte and such m.ccipts and c�ddence of e�
<br /> • hereby as Tcustee may require.and upon request of the Bencficiary, the Tmstee shall cause to be recorded,published and deliverod ;.,i��.
<br /> ` to Tn�stor such Notice of nefault and Notice of Sale as then required by taw and by this Deed of Tnist.Teustee shall wlthout demand
<br /> - on Trustor,after such tiine as may then be required by taw and after recordation of such Notice of Defavlt and after Notice of Sale
<br /> having been given as rcquircd by law,seli the property at thc time and place of sale fixed by it in such Notice of Sale,cither as a
<br /> • whole, or in separatc lots or parcels or items as Trustoe stiall dccrn cxpcdient, and in suth ordcr as it may determine, at public
<br /> auction to the highest bidder for cash�nd shall deliver to such purchascr or purchasers thereof a deed to thc propercy sold,consistent �,::;;i . •. ,
<br /> with the law then in effect. Rccitals in thc Trustee's dccd shall bc prima facie evidcnce of thc truth of thc statements madc themin.
<br /> Trustee shall apply the proceeds af the sale in the following arder:(a)to all reasonable costs and e.epenses of tl�e sale,incl�,o all '
<br />` not limited to Trustee's fees of not more than 2%of the gross sale pricc,rcasonable attorney Cees and costs of title evidence;
<br /> ` susns se�red by this Deal of Trust; and(c)the excxss. if any, to the person or persons legally entttled thereto. ��of ll � '
<br /> ' ' . including the Beneficiary,may purchase said property at said sale. Trustce may in the manner provided by law,postpo : •
<br /> f� or any portion of the property.
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