200314534
<br />any kind. Thereafter Beneficiary may:
<br />(i) Either in person or by agent, with or without bringing any action or proceeding, or by a
<br />receiver appointed by the court and without regard to the adequacy of its security, enter upon and take
<br />possession of the Trust Estate, or any part thereof, in its own name or in the time of Trustee, and do any
<br />acts which it deems necessary or desirable to preserve the value, marketability or rentability of the Trust
<br />Estate, or part thereof or interest therein, increase the income therefrom or protect the security hereof
<br />and, with or without taking possession of the Trust Estate, sue for or otherwise collect the rents, issues
<br />and profits thereof, including those past due and unpaid. and apply the same, less costs and expenses of
<br />operation and collection including attorney's fees, upon any indebtedness secured hereby, all in such
<br />order as Beneficiary may determine. The entering upon and taking possession of the Trust Estate, the
<br />collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or
<br />waive any default or notice of default hereunder or in validate any act done in response to such default
<br />or pursuant to such notice of default and, notwithstanding the continuance in possession of the Trust
<br />Estate or the collection, receipt and application of rents, issues or profits,
<br />Trustee or Beneficiary shall be entitled to exercise every right provided for in any of the Loan
<br />Instruments or by law upon occurrence of any event of default, including the right to exercise the power
<br />of sale;
<br />(ii) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or
<br />specifically enforce any of the covenants hereof;
<br />(iii) Deliver to Trustee a written declaration of default and demand for sale, and a written notice
<br />of default and election to cause Truster's interest in the Trust Estate to be sold, which notice Trustee
<br />shall cause to be duly filed for record in the appropriate Official Records of the County in which the
<br />Trust Estate is located.
<br />12. FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to foreclose by exercise
<br />of the Power of Sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee
<br />this Decd of Trust and the Note and such receipts and evidence of expenditures made and secured
<br />hereby as Trustee may require.
<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recorded, published
<br />and delivered to Trustor such Notice of Default and Notice of Salo as then required by law and after
<br />recordation of such Notice of Default and after Notice of Sale having been given as required by law, sell
<br />the Trust Estate at the time and place of sale fixed by it in such Notice of Sale, either as whole, or in
<br />separate lots or parcels or items of'l rustee shall deem expedient, and in such order as it may determine,
<br />at public action to the highest bidder for cash in lawful money of the United States payable at the time of
<br />sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed of deeds
<br />conveying the property being so sold, but without any covenant or warranty, express or implied. The
<br />recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any
<br />person, including, without limitation, Trustor, Trustee and Beneficiary, may purchase at such sale and
<br />Trustor hereby covenants to warrant and defend the title of such purchaser or purchasers.
<br />(b) As may be permitted by law, after deducting Trustee Fees in the amount of $150 Trustee
<br />shall apply the proceeds of the sale in the following order: (a) to all reasonable costs and expenses of the
<br />sale, including, but not limited to, trustee fees of not more than 1/2 of 1% of the gross sales price,
<br />reasonable attorney's fees and costs of title evidence; (b) to all sums secured by this Deed of Trust; (e) to
<br />the payment ofjunior Trust Deeds, mortgages or other lien holders; and (d) the balance, if any, to the
<br />person or persons legally entitled thereto.
<br />(c) Trustee may in the manner provided by law, postpone sale of all or any portion of the Trust
<br />Estate.
<br />13, REMEDIES NOT EXCLUSIVE. Trustee and Beneficiary, and each of them, shall
<br />be entitled to enforce payment and performance of any indebtedness or obligations secured
<br />hereby and to exercise all rights and powers under this Deed of Trust or under any Loan
<br />Instrument or other agreement or any laws now or hereafter in force, notwithstanding some or
<br />all of such indebtedness and obligations secured hereby may now or hereafter be otherwise
<br />secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither
<br />the acceptance of this Deed of Trust nor its enforcement whether by court action or pursuant to
<br />the power of sale or other powers herein contained, shall prejudice or in any manner affect
<br />Trustee's or Beneficiary's right to realize upon or enforce any other security now or hereafter
<br />held by Trustee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of
<br />them, shall be entitled to enforce this Deed of Trust and any other security now or hereafter
<br />held by Beneficiary or Trustee in such order and manner as they or either of them may in their
<br />absolute discretion determine. No remedy herein conferred upon or reserved to Trustee or
<br />Beneficiary is intended to be exclusive of any other remedy herein or by law provided or
<br />permitted, but each shall be cumulative and shall be in addition to every other remedy given
<br />hereunder or now or hereafter existing at law or in equity or by statute. Every power or remedy
<br />
|