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<br />required to be performed or observed by Trustors under the terms
<br />of any of the Loan Instruments, other than nonpayment, which
<br />failure is not satisfied within thirty (30) days following Trustors'
<br />receipt of written notice from Beneficiary of such failure, or in the
<br />case of a failure that requires more than thirty (30) days to cure,
<br />such longer period as may be reasonable in the circumstances,
<br />provided only that the Trustors immediately undertake and
<br />diligently pursue the correction of such failure to the Beneficiary's
<br />reasonable satisfaction;
<br />(c) Any representation or warranty given by Trustors in any of the Loan
<br />Instruments being false or becoming false at any time in the future;
<br />(d) Trustors' sale or transfer all or any part of the Trust Estate or an
<br />interest therein without Beneficiary's prior written consent,
<br />excluding the creation of a purchase money security interest for
<br />household appliances;
<br />(e) Trustors' making an assignment for the benefit of its creditors, or
<br />admitting in writing its inability to pay its debts as they become due,
<br />or filing a petition in bankruptcy, or being adjudicated bankrupt or
<br />insolvent, or filing a petition seeking any reorganization, dissolution,
<br />liquidation., arrangement, composition, readjustment or similar relief
<br />under any present or future bankruptcy or insolvency statute, law
<br />or regulation or filing an answer admitting to or not contesting the
<br />material allegations of a petition filed against it in such proceedings,
<br />or not having such a petition dismissed or vacated within sixty (60)
<br />days after filing, or seeking or consenting to or acquiescing to the
<br />appointment of any trustee, receiver or liquidator of a material part
<br />of its properties, or not having said appointment of such trustee,
<br />receiver or liquidator vacated within. sixty (60) days of such
<br />appointment.
<br />9. Acceleration Upon Default, Additional Remedies. Should an event of default
<br />occur, Beneficiary may declare all indebtedness secured hereby to be due and payable
<br />and the same shall thereupon become due and payable without any presentment,
<br />demand, protest, or notice of any kind. Thereafter, Beneficiary may:
<br />(a) Either in person or by agent, with or without bringing any action or
<br />proceeding, or by a receiver appointed by a court and without regard
<br />to the adequacy of its security, enter upon, and take possession of
<br />the Trust Estate, or any part thereof, in its own name or in the name
<br />of Trustee, and do any acts which it deems necessary or desirable to
<br />preserve the value, marketability, or rentability of the Trust Estate,
<br />or part thereof or interest therein, increase the income therefrom, or
<br />protect the security hereof and, with or without taking possession
<br />of the Trust Estate, sue for or otherwise collect the rents, issues, and
<br />profits thereof, including those past due and unpaid, and apply the
<br />same, less costs and expenses of operation and collection, including
<br />attorney fees, upon any indebtedness secured hereby, all in such
<br />order as Beneficiary may determine. The entering upon and taking
<br />possession of the Trust Estate, the collection of such rents, issues,
<br />and profits, and the application thereof as aforesaid shall not cure
<br />or waive any default or notice of default hereunder or invalidate any
<br />act done in response to such default or pursuant to such notice of
<br />default and, notwithstanding the continuance in possession of the
<br />Trust Estate or the collection, receipt, and application of rents,
<br />issues, or profits, Trustee or Beneficiary shall have and be entitled
<br />to exercise every right or remedy provided for in any of the Loan
<br />Instruments or by law or in equity upon occurrence of any event of
<br />default, including the right to exercise the power of sale;
<br />(b) Commence an action to foreclose this Deed of Trust as a mortgage,
<br />appoint a receiver, or specifically enforce any of the covenants
<br />hereof;
<br />L0648853.2 -4-
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