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200305061
<br />and upon the payment of all other proper costs, charges, commissions, and expenses, the above described property shall be
<br />released and reconveyed to and at the cost of the Grantor.
<br />3. Upon default in any of the covenants or conditions of this instrument or of the note or loan agreement secured
<br />hereby, the Beneficiary or his assigns may without notice and without regard to the adequacy of security for the indebtedness
<br />secured, either personally or by attorney or agent without bringing any action or proceeding, or by a receiver to be appointed
<br />by the court, enter upon and take possession of said property or any part thereof, and do any acts which Beneficiary deems
<br />proper to protect the security hereof, and either with or without taking possession of said property, collect and receive the
<br />rents, royalties, issues, and profits thereof, including rents accrued and unpaid, and apply the same, less costs of operation
<br />and collection, upon the indebtedness secured by this Deed of Trust, said rents, royalties, issues, and profits, being hereby
<br />assigned to Beneficiary as further security for the payment of such indebtedness. Exercise of rights under this paragraph shall
<br />not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice but shall be
<br />cumulative to any right and remedy to declare a default and to cause notice of default to be recorded as hereinafter provided,
<br />and cumulative to any other right and /or remedy hereunder, or provided by law, and may be exercised concurrently or
<br />independently. Expenses incurred by Beneficiary hereunder including reasonable attorneys' fees shall be secured hereby.
<br />4. The Grantor covenants and agrees that if he shall fail to pay said indebtedness, or any part thereof, when due,
<br />or shall fail to perform any covenant or agreement of this instrument or of the promissory note secured hereby, the entire
<br />indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the option of the
<br />Beneficiary or assigns, regardless of maturity, and the Beneficiary or assigns may enter upon said property and collect the rents
<br />and profits thereof. Upon such default in payment or performance, and before or after such entry, the Trustee, acting in the
<br />execution of this Trust, shall have the power to sell said property, and it shall be the Trustee's duty to sell said property (and
<br />in case of any default of any purchaser, to resell) at public auction, to the highest bidder, first giving four weeks' notice of
<br />the time, terms, and place of such sale, by advertisement not less than once during each of said four weeks in a newspaper
<br />published or distributed in the county or political subdivision in which said property is situated, all other notice being hereby
<br />waived by the Grantor (and the Beneficiary or any person on behalf of the Beneficiary may bid and purchase at such sale).
<br />Such sale will be held at a suitable place to be selected by the Beneficiary within said county or political subdivision. The
<br />Trustee is hereby authorized to execute and deliver to the purchaser at such sale a sufficient conveyance of said property, which
<br />conveyance shall contain recitals as to the happening of a default upon which the execution of the power of sale herein granted
<br />depends; and the said Grantor hereby constitutes and appoints the Trustee as his agent and attorney in fact to make such recitals
<br />and to execute said conveyance and hereby covenants and agrees that the recitals so made shall be binding and conclusive upon
<br />the Grantor, 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 Grantor, all of which are hereby expressly waived and conveyed to
<br />the Trustee. In the event of a sale as hereinabove provided, the Grantor, or any person in possession under the Grantor, shall
<br />then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be summarily
<br />dispossessed, in accordance with the provisions of law applicable to tenants holding over. The power and agency hereby
<br />granted are coupled with an interest and are irrevocable by death or otherwise, and are granted as cumulative to all other
<br />remedies for the collection of said indebtedness. The Beneficiary or Assigns may take any other appropriate action pursuant
<br />to state or Federal statute either in state or Federal court or otherwise for the disposition of the property.
<br />5. In the event of a sale as provided in paragraph 4, the Trustee shall be paid a fee by the Beneficiary in an amount
<br />not in excess of percent of the gross amount of said sale or sales, provided, however, that the amount of such fee shall
<br />be reasonable and shall be approved by the Beneficiary as to reasonableness. Said fee shall be in addition to the costs and
<br />expenses incurred by the Trustee in conducting such sale. The amount of such costs and expenses shall be deducted and paid
<br />from the sale's proceeds. It is further agreed that if said property shall be advertised for sale as herein provided and not sold,
<br />the Trustee shall be entitled to a reasonable fee, in an amount acceptable to the Beneficiary for the services so rendered. The
<br />Trustee shall also be reimbursed by the Beneficiary for all costs and expenses incurred in connection with the advertising of
<br />said property for sale if the sale is not consummated.
<br />6. The proceeds of any sale of said property in accordance with paragraph 4 shall be applied first to payment of
<br />fees, costs, and expenses of said sale, the expenses incurred by the Beneficiary for the purpose of protecting or maintaining
<br />said property and reasonable attorneys' fees; secondly, to payment of the indebtedness secured hereby; and thirdly, to pay any
<br />surplus or excess to the person or persons legally entitled thereto.
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