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200507874
<br />(i) Before such sale at public auction is made, there shall first be advertisement of the time,
<br />place and terms of sale in at least three consecutive issues in some newspaper published or having a general
<br />circulation in the County or City in which the Property is located, and there shall be given, at least fourteen
<br />(14) days prior to such sale, written notice of the time, place and terms of sale by certified or registered
<br />mail to the then owner of the Property at its last known address, as such owner and address appear on the
<br />records of Lender. Lender may become the purchaser of the Property so sold, and no purchaser shall be
<br />required to see to the proper application of the purchase money, except as otherwise provided in paragraph
<br />58.1 -3340 of the Virginia Code. The proceeds of any such sale shall be applied in accordance with the
<br />provisions of Section 55 -59.4 of the Virginia Code.
<br />(ii) Upon any Event of Default, Lender, pursuant to the Uniform Commercial Code as
<br />enacted in the Commonwealth of Virginia, shall have the option of proceeding as to both real and personal
<br />property in accordance with its rights and remedies in respect of the real estate.
<br />(iii) All reasonable expenses, charges, counsel fees and other disbursements incurred by the
<br />Trustee in and about the administration and execution of the trust hereby created, and the performance of
<br />its duties and powers hereunder, shall be secured by this instrument, and shall bear interest at the rate of
<br />interest set forth in the Note. If more than one trustee is appointed by Lender, either may exercise all the
<br />rights and powers of the Trustee hereunder. Pursuant to the provisions of Section 26 -49 of the Virginia
<br />Code, or any successor provision, Lender, with or without cause, is hereby authorized and empowered to
<br />substitute and appoint, by an instrument recorded wherever this instrument is recorded, one or more
<br />trustees in the place of the Trustee.
<br />NOTICE
<br />THE DEBT SECURED HEREBY IS SUBJECT TO CALL IN FULL OR THE TERMS THEREOF BEING
<br />MODIFIED IN THE EVENT OF A TRANSFER, AS DEFINED ABOVE, OR IN THE EVENT OF SALE
<br />OR CONVEYANCE OF THE PROPERTY CONVEYED HEREBY.
<br />Section 18.50. Certain Matters Relating to Property Located in the State. of Washington. With respect to
<br />the Property which is located in the State of Washington, notwithstanding anything contained herein to the contrary:
<br />(a) None of the Property is presently, or will during the term of this Security Instrument, be used
<br />principally, or at all, for agricultural or farming purposes.
<br />(b) PLEASE BE ADVISED THAT ORAL AGREEMENTS OR ORAL COMMITMENTS TO
<br />LOAN MONEY, EXTEND CREDIT OR FOREBEAR FROM ENFORCING REPAYMENT OF A DEBT
<br />ARE NOT ENFORCEABLE UNDER WASHINGTON LAW.
<br />(c) In addition to all rights and remedies contained in Section 13.02 of this Security Instrument,
<br />Lender may (i) foreclose this Security Instrument judicially, in the same manner as a mortgage; (ii) cause Trustee
<br />to exercise its power of sale in accordance with the provisions of this Security Instrument and the Deed of Trust
<br />Act of the State of Washington, RCW Ch. 61.24, as now existing or hereafter amended; or (iii) sue on the Note in
<br />accordance with applicable law. To the extent permitted by law, including, without limitation, RCW Ch.
<br />61.24.100, Lender shall have the right to seek and obtain a deficiency judgment following the completion of a
<br />judicial foreclosure or a trustee's sale of all or part of the Property.
<br />(d) The procedure for exercise of the Trustee's power of sale shall be as follows: upon written request
<br />therefore by Lender specifying the nature of the Event of Default, or the nature of the several Events of Default,
<br />and the amount or amounts due and owing, Trustee shall execute a written notice of breach and of its election to
<br />cause the Property to be sold to satisfy the obligation secured hereby, and shall cause such notice to be recorded
<br />and otherwise given according to law. Notice of sale having been given as then required by law and not less than
<br />the time then required by law having elapsed after recordation of such notice of breach, Trustee, without demand
<br />on Borrower, shall sell the Property at the time and place of sale specified in the notice, as provided by statute,
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