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<br />10 Ii 40 L\
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<br />25.
<br />
<br />Each of the following occurrences shall con-
<br />default hereunder, (hereinafter called an
<br />
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<br />
<br />Events of Default.
<br />stitute an event of
<br />"Event of Default"):
<br />
<br />(a) Any warranty of title made by Trustor herein shall be un-
<br />true,
<br />
<br />(b) Trustor shall fail to observe or perform any of the
<br />covenants, agreements or conditions in this Deed of Trust,
<br />
<br />(c) Trustor shall fail to perform or observe any of the
<br />covenants, conditions or agreements contained in, or binding
<br />upon Trustor under any building loan agreement, security
<br />agreement, loan agreement, financing statement,' or any other
<br />agreement, instrument or document executed by Trustor in
<br />connection with the loan evidenced by the Note,
<br />
<br />(d) A trustee, receiver or liquidator of the Trust Property or of
<br />Trustor shall be appointed, or any of the creditors of
<br />Trustor shall file a petition in bankruptcy against Trustor,
<br />or for the reorganization of Trustor pursuant to the Federal
<br />Bankruptcy Code, or any similar law, whether federal or
<br />state, and if such order or petition shall not be discharged
<br />or dismissed within thirty (30) days after the date on which
<br />such order or petition was filed,
<br />
<br />(e) Trustor shall file a petition pursuant to the Federal
<br />Bankruptcy Code or any similar law, federal or state, or if
<br />Trustor shall be adjudged a bankrupt, or be declared insol-
<br />vent, or shall make an assignment for the benefit of credi-
<br />tors, or shall admit in writing its inability to pay its
<br />debts as they become due, or shall consent to the appointment
<br />of a receive of all or any part of the Trust Property,
<br />
<br />(f) Final judgment for the payment of money shall be rendered
<br />against Trustor and Trustor shall not discharge the same, or
<br />cause it to be discharged, within thirty (30) days after the
<br />entry thereof, and shall not appeal therefrom or from the
<br />order, decree or process upon which or pursuant to which said
<br />judgment was granted, based, or entered, and secure a stay of
<br />execution pending such appeal,
<br />
<br />(g) If Trustor is a corporation or partnership and more than
<br />fifty percent (50%) of the shares or beneficial interests in
<br />such corporation or partnership, as the case may be, shall be
<br />transferred or conveyed, whether voluntarily or
<br />involuntarily, without the written consent of Beneficiary
<br />being first had and obtained.
<br />
<br />26. Acceleration of Debt: Foreclosure. Upon the occurrence of any
<br />Event of Default, or any time thereafter, Beneficiary may, at its
<br />option, declare all the Indebtedness secured hereby immediately
<br />due and payable and the same shall bear interest at the default
<br />rate, if any, set forth in the Note, or otherwise at the highest
<br />rate permitted by law, and, irrespective of whether Beneficiary
<br />exercises said opt ion, it may, at its opt ion and in its sole
<br />discretion, without any further notice or demand to or upon
<br />Trustor, do one or more of the following;
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<br />L
<br />
<br />(a) Beneficiary may enter upon, take possession of, manage and
<br />operate the Trust Property or any part thereof: make repairs
<br />and alterations and do any acts which Beneficiary deems pro-
<br />per to protect the security thereof, and either with or with-
<br />out taking possession, in its own name, sue for or otherwise
<br />collect and receive rents, issues and profits, including
<br />those past due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection, including reasonable
<br />at torney fees and Bene ficiary' s cost s, upon t he indebtedness
<br />secured hereby and in such order as Beneficiary may deter-
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