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<br />87- 107309
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<br />tion of such rents, issues and profits and application
<br />thereof as aforesaid shall not cure or waive any
<br />default or notice of default hereunder or invalidate
<br />any act and in response to such default or pursuant to
<br />such notice of default and, not,,,ithstanding the con-
<br />tinuance in possession of the property or the col-
<br />lection, receipt and application of rents, issues or
<br />profits, Trustee or Beneficiary may be entitled to
<br />exercise every right provided for in any of the loan
<br />instruments or by law upon occurrence of any event of
<br />default, including the right to exercise the power of
<br />sale:
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<br />(b) commence an action to foreclose this Deed of
<br />Trust as a mortgage, appoint a receiver, or specifically
<br />enforce any of the covenants hereof:
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<br />(c) deliver to Trustee a written declaration of
<br />default and demand for sale, and a written notice of
<br />default and election to cause Trustor's interest in the
<br />property to be sold, which notice Trustee shall cause
<br />to be duly filed for record in the official records of
<br />the county in which the property is located.
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<br />13. Foreclosure by Power of Sale. Should Beneficiary elect
<br />to forecloee by exerC1se of the power of sale herein contained,
<br />Beneficiary shall notify Trustee and shall deposit with Trustee
<br />this Deed of Trust and the note and such receipts and evidence of
<br />expenditures made and secured hereby as Trustee may require, and
<br />upon request of the Beneficiary, the Trustee shall file for
<br />record, in the Register of Deeds office in the County where the
<br />property is located, a notice of default, setting forth the name
<br />of the Trustor, the Book and Page or Document No. of this Deed of
<br />Trust as recorded in said Register of Deeds office, the legal
<br />description of the above-described real estate and that a breach
<br />of an obligation, for which said real estate was conveyed as
<br />security, has occurred, and setting forth the nature of such
<br />breach and the Trustee' s election to sell the real estate to
<br />satisfy the obligation: and after the lapse of not less than one
<br />(1) month, the Trustee shall give written notice of the tine and
<br />place of sale which may be between 9:00 a.D. and 5 p.m. at the
<br />premises, or at the Courthouse in the County wherein such property
<br />is located, describing the property to be sold by its legal
<br />description, said notice to be published in a newspaper of
<br />general circulation in the County wherein such property is
<br />located, once a week for five (5) consecutive weeks, the last
<br />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
<br />sell said propert~. at the time and place designated in the
<br />notice, in the manner provided by law in effect at the time of
<br />filing said notice, at public auction to the highest bidder for
<br />cash and shall deliver to such purchaser a deed to the property
<br />sold. consistent ".ith the la\.. in effect at the time.
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<br />Upon receipt of pa}~ent of the price bid, Trustee shall
<br />deliver to the purchaser, Trustee's deed conveying the property
<br />sold. Recitals in the Trustee's deed shall be prima facie evi-
<br />dence of the truth of the statements made therein. Trustee shall
<br />apply the proceeds of the sale in the following order: (a) to
<br />all reasonable costs and expenses of the sale, including but not
<br />limited to, Trustee's fees of not more than one (1)% of the gross
<br />sale price, reasonable attorney fees and costs of title evidence:
<br />(b) to all sums secured by this Deed of Trust: and (c) the
<br />excess, if any, to the person or persons legally entitled thereto.
<br />Any person, including Beneficiary, may purchase said property at
<br />said sale.
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<br />The person conducting the sale may, for any cause he or she
<br />deems expedient, postpone the sale from time to time until it
<br />shall be completed and, in every such case, noticE' of postpone-
<br />ment shall be given by public declaration thereof by such person
<br />at the time and place last appointed for the sale; plovided, if
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