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or with respect to, any Secured Obligation. 200209147
<br />5.02 Rights and Remedies. Upon the occurrence of any Default, and at any time thereafter, Beneficiary and
<br />Trustee shall have all the following rights and remedies:
<br />(a) With or without notice, to declare all Secured Obligations immediately due and payable in full.
<br />(b) With or without notice, without releasing Trustor from any Secured Obligation and without becoming a
<br />mortgagee in possession, to cure any Default of Trustor and, in connection therewith: (i) to enter upon the
<br />Subject Property and to do such acts and things as Beneficiary or Trustee deems necessary or desirable to
<br />protect the security of this Deed of Trust, including without limitation, to appear in and defend any action or
<br />proceeding purporting to affect the security of this Deed of Trust or the rights or powers of Beneficiary or
<br />Trustee hereunder; (ii) to pay, purchase, contest or compromise any encumbrance, charge, lien or claim of lien
<br />which, in the judgment of either Beneficiary or Trustee, is senior in priority to this Deed of Trust, the judgment
<br />of Beneficiary or Trustee being conclusive as between the parties hereto; (iii) to obtain, and to pay any
<br />premiums or charges with respect to, any insurance required to be carried hereunder; and (iv) to employ
<br />counsel, accountants, contractors and other appropriate persons to assist them.
<br />(c) To commence and maintain an action or actions in any court of competent jurisdiction to foreclose this
<br />Deed of Trust as a mortgage or to obtain specific enforcement of the covenants of Trustor under this Deed of
<br />Trust, and Trustor agrees that such covenants shall be specifically enforceable by injunction or any other
<br />appropriate equitable remedy. For the purposes of any suit brought under this subsection, Trustor waives the
<br />defenses of laches and any applicable statute of limitations.
<br />(d) To apply to a court of competent jurisdiction for and obtain appointment of a receiver of the Subject
<br />Property as a matter of strict right and without regard to: (i) the adequacy of the security for the repayment
<br />of the Secured Obligations; (ii) the existence of a declaration that the Secured Obligations are immediately due
<br />and payable; or (iii) the filing of a notice of default; and Trustor consents to such appointment.
<br />(e) To take and possess all documents, books, records, papers and accounts of Trustor or the then owner of
<br />the Subject Property; to make or modify Leases of, and other agreements with respect to, the Subject
<br />Property upon such terms and conditions as Beneficiary deems proper; and to make repairs, alterations and
<br />improvements to the Subject Property deemed necessary, in Trustee's or Beneficiary's judgment, to protect or
<br />enhance the security hereof.
<br />(f) To execute or cause Trustee to execute a written notice of such Default and of its election to cause the
<br />Subject Property to be sold. Trustee shall give and record such notice as the law then requires as a condition
<br />precedent to a trustee's sale. When the minimum period of time required by law after such notice has elapsed,
<br />Trustee, without notice to or demand upon Trustor, except as otherwise required by law, shall sell the Subject
<br />Property at the time and place of sale fixed by it in the notice of sale, at one or several sales, either as a
<br />whole or in separate parcels and in such manner and order, all as directed by Beneficiary in its sole discretion,
<br />at public auction to the highest bidder for cash, in lawful money of the United States, payable at the time of
<br />sale. Except as required by law, neither Trustor nor any other person or entity shall have the right to direct
<br />the order in which the Subject Property is sold. Subject to requirements and limits imposed by law, Trustee
<br />may postpone any sale of the Subject Property by public announcement at such time and place of sale, and
<br />from time to time may postpone such sale by public announcement at the time and place fixed by the
<br />preceding postponement. Trustee shall deliver to the purchaser at such sale a deed conveying the Subject
<br />Property or portion thereof so sold, but without any covenant or warranty, express or implied. The recitals in
<br />said deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including
<br />Trustee, Trustor or Beneficiary, may purchase at such sale.
<br />(g) To resort to and realize upon the security hereunder and any other security now or later held by
<br />Beneficiary concurrently or successively and in one or several consolidated or independent judicial actions or
<br />lawfully taken non- judicial proceedings, or both, and to apply the proceeds received in accordance with
<br />Section 5.03 hereof, all in such order and manner as Beneficiary shall determine in its sole discretion.
<br />DEED OF TRUST With Assignment of Rents (05/01) Page 10
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