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88- ion")! J1'" is sold, transferred or furGle ~"~8b without the express or written consent of Beneficiary, Beneficiary may, at its sole option, declare all sums secured by this Deed of Trust to be immediately due and payable and proceed to the remedies available to it under the default provisions contained herein. 11. Events of Default, Any of the following events shall be deemed an event of default hereunder: (a) Trustor shall have failed to make payment of any installment of interest, principal or principal and interest or any other sums secured hereby when due;. (b) There hss occurred a breach of or default under any term, covenant, agreement, condition, provision, representation or warranty contained in this Deed of Trust, the note ar any other IOML instrument secured hereby; (c) There has been a default by the Trustor in the payment of any prior or subsequent lien or encumbrance in respect to all or any part of the property; (d) Trustor shall file a voluntary petition in bankruptcy or shall be adjudi- cated bankrupt dr insolvent, or shall make an assignment for toe benefit of creditors in respect to the property; or an action to enforce any lien or encumbrance or judg- ments against the property is commenced. 12. Acceleration Upon Default. In the event of any default, Beneficiary may declare all in~ebtedness secured hereby to be due and payable, and the same shall thereupon become due and payable without any presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may' . (a) either in person or by agent, with or without bringing any action or pro- ceeding, or by receiver appointed by a court and ~.thout regaru to the adequacy of any security, enter upon and take possession of the property, or any part chereof, in its own name or in the name of the Trustee, and do any acts which it deems necessary and desirable to preserve the value, marketability or rentability of the property, or part thereof or interest therein, increase the income therefrom or protect the security hereof and, without taking possession of the property, sue for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of operatlm! and collection, including attorney fees~ upon any indebtedness secured hereby, all in such order as Beneficiary may determine. The entering upon and taking possession of the trust estate, the collection of such rents, issues and profits and applicstion thereof as aforesaid shall not cure or waive any de- fault or notice of default hereunder or invalidate any act and in response to auch de- fault or pursuant to such notice of default and, notwithstanding the continuance in possession of the property or the collection, receipt and application of rents, issues or profits, Trustee or Beneficiary may be entitled to exercise every right provided for in any of the loan instruments or by law upon occurrence of any event of default, in- cluding the right to exercise the power of sale; (b) commence an action to foreclose this Deed of Trust as a mortgage. appoint a receiver, or specifically enforce any of the covenants hereof; (c) deliver to Trustee a written declaration of default and demand for sale, and a written notice of default and election to cause Trustor's interest in the property to be sold, which notice Trustee shall cause to be duly filed for record in the official records of the county in which the property is located. 13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee th1s Deed of Trust and the note and such receipts and evidence of expenditures made and secured hereby as Trustee may require, and upon request of the Beneficiary, thc Truatee shall file for record, in the Register of Deeds office in the County where the property is located. a notice of default, aetting forth the name of the Trustor, the Book and Page or Document No. of this Deed of Trust as recorded in said Register of Deeds office, the legal description of the above-described real eatate and that a breach of an obligation, for which said real estate was conveyed as security, has occurred. and setting forth the nature of such breach and the Trustee's election to aell the real estate to satisfy the obligation; and after the lspse of not less than one (1) month, the Trustee shall give written notice of the tiDe and place of sale which may be between 9:00 a.m. and 5 p.m. at the premisea, or at the Courthouse in the County wherein such property is located, describing the property to be sold by its legal descrip- tion, aaid notice to be published in a newspaper of general circulation in the County wherein such property is located, once a week for five (5) consecutive weeks, the last publication to be at least ten (10) daya, but not more than thirty (30) days, prior to the sale; and the Trustee ahall then sell aaid property at the time and place designated in the notice, in the manner provided by law in effect at the time of filing said notice, at public auction to the highest bidder for cash and shall deliver to such purchaser a deed to the property sold, consistent with the law in effect at the time, Upon receipt of the price bid, Trustee shall deliver to the purchase, Trustee's deed conveying the property sold. Recitala in the Trustee's deed shall be prima facie evidence of the truth of the state- ments made therein. Trustee s'"~ll apply the proceeds of the sale in the following order: (a) to all reasonable costs and expenB~B of the sale. 1ncluding but not limited to, Trustee's fees of not more than_______1 of the gross sale price, reasonable attorney fees and coats af title evidence; (b) to all sums secured by this Deed of Trust; and (c) the excess, if any, to the person or peraona legally en- titled thereto. Any person, including Beneficiary. may purclmse said property at said sale. The person conducting the sale may, for any cause he or she deems expedient, postpone the sale from time to time until it shall be completed and, in every such case, notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the sale: pro- vided, if the sale ia postponed for longer than one (1) day beyond the date designated in the notice of sale, notice thereof shall be given in the same manner as the original notice of sale. 14. Remediea Not Exclusive. Trustee and Beneficiary, and each of tl~m, shall be entitled to en- force payment and performance of any indebtedness or obligation secured hereby and to exercise all rights and powers under this Deed of Trust or under any loan In9trument or other agreement or any laws now or hereafter enforced, notwithstanding some or all of the indebtedness and obligations secured hereby which DIllY now at' hereafter. be otherwise secured, whether by mortgage, deed of trust, pledge. lien, assign- ment or otherwise, Neither the acceptance of this Deed of Truat nor its enforcement, whether by court action or pursuant to the power of sale or other powers herein contained, shall prejudice or in any ..nner affect Trustee's or Beneficiary's right to realize upon or enforce any other security now or here- after held by Trustee or Beneficiary, it being agreed that Trustee and Beneficiary, and each of them, shall be e~titled to enforce this Deed of Trust and any other security now or hereafter held by the Bene- ficlary ar Trustee in such order and manner as they, or either of them, may in their sbsolute discretion determine. No remedy herein conferred upon or reserved to Trustee or BeneficIary is intend<!d to be ex- cludve of any other remedy herein or by law provided or permitted, but each sholl be cumulative and shall be in addition to every other r~medy given hereunder or noW or hereafter edstinR at law or In equity OT by statute. Evet'y pOWelr or remedy gl,ven by any of the loan instruments to Trustee or Bene- ficiary or to whtc h c t ther of t hem may be othl'lt"Wlsc ent it led may be e )tare 1. fmd I Cl,ncurrl.nt 1 y or t" \epen- dently, from time to t.l.me 8ud AI! often 48 may be deemed expedient by TruRu..... or 'Rencrlciary, nnd ...lther of them may pursue InconA1At0nl remedies. NothiuR herein 8ha11 be C()nfttrui:!'d aR I1roh1h1tlnJ.\ Bmu;oflclnr\' from lJeek.ln~ 4 deftC'lency 1udRment oKatnRt Truntor to t.hiP cKtcnt "wl'h Bctton iN fwrm1ttlHl hv law. -2- '-:'.,':