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<br />200601820
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<br />(b) There has occurred a breach of or default under any term, covenant,
<br />agreement, condition, provision, representation or warranty contained in this Deed
<br />of Trust, the note or any other loan instrument secured hereby;
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<br />( c) There has been a default by the Trustors in the payment of any prior or
<br />subsequent lien or encumbrance in respect to all or any part of the property;
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<br />(d) Trustors shall file a voluntary petition in bankruptcy or shall be adjudicated
<br />bankrupt or insolvent, or shall make an assignment for the benefit of creditors in respect
<br />to the property; or an action to enforce any lien or encumbrance or judgments against the
<br />property is commenced.
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<br />11. Acceleration Upon Default. In the event of any default, Beneficiary may declare all
<br />indebtedness secured hereby to be due and payable, and the same shall thereupon become due
<br />and payable without any presentment, demand, protest or notice of any kind. Thereafter,
<br />Beneficiary may:
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<br />(a) either in person or by agent, with or without bringing any action or
<br />proceeding, or by receiver appointed by a court and without regard to the
<br />adequacy of any security, enter upon and take possession of the property, or any
<br />part thereof, in his own name or in the name ofthe Trustee, and do any acts which
<br />he deems necessary and desirable to preserve the value, marketability or
<br />rentability of the property, or part thereof or interest therein, increase the income
<br />herefrom or protect the security hereof and, without taking possession of the
<br />property, sue for or otherwise collect the rents, issues and profits thereof,
<br />including those past due and unpaid, and apply the same, less costs and expenses
<br />of operation and collection, including attorney fees, upon any indebtedness
<br />secured hereby, all in such order as Beneficiary may determine. The entering
<br />upon and taking possession of the trust estate, the collection of such rents, issues
<br />and profits and application thereof as aforesaid shall not cure or waive any default
<br />or notice of default hereunder or invalidate any act and in response to such default
<br />or pursuant to such notice of default and, notwithstanding the continuance in
<br />possession of the property or the collection, receipt and application of rents, issues
<br />or profits, Trustee or Beneficiary may be entitled to exercise every right provided
<br />for in any of the loan instruments or by law upon occurrence of any event of
<br />default, including the right to exercise the power of sale;
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<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 hereof;
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<br />(c) deliver to Trustee a written declaration of default and demand for sale,
<br />and a written notice of default and election to cause Trustors' interest in the
<br />property to be sold, which notice Trustee shall cause to be duly filed for record in
<br />the official records of the county in which the property is located.
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<br />12. Foreclosure bv Power of Sale. Should Beneficiary elect foreclosure by exercise of
<br />the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with
<br />Trustee this Deed of Trust and the note and such receipts and evidence of expenditures made and
<br />secured hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall file
<br />for record, in the Register of Deeds Office in the County where the property is located, a notice
<br />of default, setting forth the names of the Trustors, the Book and Page or Document No. of this
<br />Deed of Trust as recorded in said Register of Deeds office, the legal description of the above-
<br />described real estate and that a breach of an obligation, for which said real estate was conveyed
<br />as security, has occurred, and setting forth the nature of such breach and the Trustee's election to
<br />sell the real estate to satisfy the obligation; and after the lapse of not less than one (1) month, the
<br />Trustee shall give written notice of the time and place of sale which may be between 9:00 a.m.
<br />and 5 :00 p.m. at the premises, or at the Courthouse in the County wherein such property is
<br />located, describing the property to be sold by its legal description, said notice to be published in
<br />a newspaper of general circulation in the County wherein such property is located, once a week
<br />for five (5) consecutive weeks, the last publication to be at least ten (10) days, but not more than
<br />thirty (30) days prior to the sale; and the Trustee shall then sell said property at the time and
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