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200302537 Trust which can be given effect without the conflicting provisions and to this end the provisions of this Deed of Trust are declared to be severable. 6. Events of Default. Each of the following occurrences shall constitute an event of default hereunder, (hereinafter called an "Event of Default'): (a) Trustor shall fail to pay after proper notice any principal, interest, or principal and interest on the Indebtedness; (b) any warranty of title made by Trustor herein shall be untrue; or (c) Truster shall fail to observe or perform any of the covenants, agreements or conditions in this Deed of Trust. 7. Acceleration of Debt: Foreclosure. Upon the occurrence of any Event of Default, or any time thereafter, Beneficiary may, at its option, after notice designated in the Guaranty, declare all the Indebtedness secured hereby immediately due and payable and the same shall bear interest at the default rate set forth in the Guaranty. In such event, Beneficiary may bring any action in any court of competent jurisdiction to foreclose this Deed of Trust or enforce any of the covenants hereof. Beneficiary may elect to cause the Trust Property or any part thereof to be sold under the power of sale, and in such event, Beneficiary or Trustee shall give such notice of default and notice of sale as may be then required by law. Thereafter, upon the expiration of such time and the giving of such notice of sale as may then be required by law, Trustee, at the time and place specified by the notice of sale, shall sell such Trust Property, or any part thereof specified by Beneficiary, at public auction to the highest bidder for cash in lawful money of the United States of America. Upon receipt of payment of the price bid, Trustee shall apply the proceeds in the following order: (i) to the costs and expenses of exercising the power of sale and of the sale, not to exceed $500.00, (ii) to the Indebtedness, and (iii) the excess, if any, to the person or persons legally entitled thereto. 8. Duties of Trustee. 'Trustor agrees that the duties and obligations of Trustee shall be determined solely by the express provisions of this Deed of Trust and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth herein, and no implied covenants or obligations shall be imposed upon Trustee; no provision of this Deed of Trust shall require Trustee to expend or risk his own funds, or otherwise incur any financial obligation in the performance of any of his duties hereunder, or in the exercise of any of his rights or powers, if it shall have grounds for believing that the repayment of such funds are adequate indemnity against such risk or liability not reasonably insured to it; Trustee may consult with counsel of he own choosing and the advice of such counsel shall be full and complete authorization and protection in the respect of any action taken or suffered by it hereunder in good faith and reliance thereon; and Trustee shall not be liable for any action taken by it in good faith and reasonable believed by it to be authorized or within him discretion or rights or powers conferred upon it by this Deed of Trust. 9. Notice to Trustor. Trustor hereby requests that a copy of any notice of default and notice of sale made or executed by Trustee pursuant to the provisions hereof be sent to Truster at his mailing address set forth herein above.