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<br />1s sold. tranafcrrert or further encumbered without the express or written consent of Beneficiary,
<br />Beneficiary may, at its sole option, declare all sums secured by this Deed of Trust to be immediately
<br />due and payable and pro~eed to the remedies available to it under the default provisions contained
<br />herein.
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<br />11. Events of Default. Any of the following events shall be deemed an eveot of default hereunder:
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<br />(a) Trustor shall have fsiled to mske psyment of any installment of interest,
<br />principal or principal and interest or any other sums secured hereby when due;.
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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 Trustor in the payment of any prior or
<br />subsequent l1en or encumbrance in respect to all or any part of the property;
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<br />(d) Trustor shall file a voluntary petition in bankruptcy or shall be adjudi-
<br />cated bankrupt or insolvent, or shall make an assignment for the benefit of creditor~
<br />in respect to the property; or an act ton to enforce any lien or encumbrance or judg-
<br />ments against the pruperty is commenced.
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<br />12. Acceleration U~on Default. In the event of any default, Beneficiary may declare all indebtedness
<br />secured hereby to be due and payable, and the same shall thereupon becume due and payable without any
<br />presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may:
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<br />(a) either in person or by agent, with or without bringing any action or pro-
<br />ceeding, or by receiver appointed by a court and wHhout regard to the adequacy of
<br />any security, enter upon and take possession of the property. or any part thereof,
<br />tn its own name or in the name of the Trustee, and do any acts which it deems necessary
<br />and desirable to preserve the value, marketability or rentab~lity of the property, or
<br />part thereof or interest therein, increase the income therefrom or protect the security
<br />hereof and, without taking possession of the property, sue for or otherwise collect the
<br />rents, issues and profits thereof, lncluding those past due and unpaid, and apply the
<br />same, less costs and expenses of operation and collection. including attorney fees, upon
<br />any indebtedoess secured hereby, all in such order as Beneficiary may determine. The
<br />entering upon and taking possession of the trust estate. the collection of such rents,
<br />issues and profits and application thereof as afores31d shall not cure or waive any de-
<br />fault or notice of default hereunder or lnvalidate any act and in response to such de-
<br />fault 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, lssues
<br />or profits, Trustee or Beneficiary may be entitled to exercise every right provided for
<br />in any of the loan instruments or by law Lpon occurr~~ce of any event of default~ in-
<br />cludlng 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, appoint
<br />a receiver, or specifically enforce any of the covenants hereofi
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<br />(c) deliver to Trustee a wrttten declaration of default and demand for sale,
<br />and a wrLtten notice of default and election to cause Trustor's interest In the property
<br />to be sold, which notice Trustee shall cause to be duly fUed for record in the ofUcial
<br />records of the county in which the property is located.
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<br />13, Foreclosure by Power of Sale. Should Beoeficiary elect to foreclose by exercise of the paver
<br />of aale hereln contained, Beneficiary shall notify Trustee and shall deposlt with Trustee this Deed of
<br />Trust and the note and such receipts and evidence of expenditures made and secured hereby as Trustee
<br />may require, and upon reque8t of the Beneficial), the Trustee shall file for record, in the Reglst~r
<br />of Deeds office in t.he County where t.he property is located, a notice of default., sctt.ing fort.h t.he
<br />name of the Trustor, the Book and Page or Document No, of this Deed of Trust as recorded ln said
<br />Register of Deeds office, the legal descriptlon of the above-described real estate and that a br~cb
<br />of an obligation, for which said real estate was conveyed as securIty, has occurred~ and seLting for~h
<br />tl~ nat~re of such breach and the Trustee's election to sell the real estate to sa~1sfy the obligation;
<br />and after the lapse of not less than one (I) month, the Trustee shall give written notlce :>f the time
<br />and plact! of sale which may be bet10lCen 9:00 n.m. and 5 p.m. BL the premises, or at the Cour~hDUBe in
<br />the County wherein Buch property ls located, describing the property to be sold by lts legal descrlp-
<br />tlon, said notice to be published ln a newspaper of general circulation in the County "herein such
<br />property Is located, once a week for five (5) consecutive weeks, the last publication to be at least
<br />ten (10) daYB, but not more than thirty (30) days, prior to the sale: and the Trustee shall then sell
<br />said property at the time and place deslgnated in the notice, ln the manner provlded by law in effect
<br />at the tlme of flUnK said notice, at public auct ion to the hiKhest bidder for cash and shall deliver
<br />to 8uch purchaser II deed to the property Bold, consistent with the law in effect at the time.
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<br />Cpon rccei(1t of the price bid, Trustee shall deliver to the purchase, Trustee's deed conveying the
<br />property oold. Recitals in the Trustee'a deed Bhall be prima facle evidence of the truth of the state-
<br />ment8 made thereln. Trustee shall apply the proceeds of the sale in the following order: (a) to all
<br />reasonable costs and expcnses of the salc, lncludlnR but not limited to. Trustee's fees of not more
<br />than % of the iI'OSS sale price, reasonable attorney fees and c"sts of title evidence; (b) to all
<br />sums~d by this Deed of Trust; and (c) the excess, if any, to the person or persons le~ally en-
<br />titled thereto. Any person, includil\g Beneficiary, may purchaAc said property at said sale.
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<br />The person conducting thc sale may, for any cause he or she deems cxpedlent~ postpone the sale from
<br />time to time until it shall be completed Bnd, in every such case, notice of postponement shall be given
<br />by public declaration thereof by such pereon at the time and place last appointed for the sale; pro-
<br />vided, if the Bale is postponed for 101llJer than one (I) day beyond the date deBignated in the notlcc of
<br />salc, notice thereof ahall be given In the same manner as the ort~lnnl notice of sale.
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<br />14, Remedies Not Exclusive. Tru8tee and Beneficiary, lUId each of them, shall be entitled to en-
<br />force payment and performance of any indebtedness or obligation secured hereby and to exercise all rights
<br />and powers under this Deed of Trust or under any lonn instrument or other agreement or any laws now or
<br />hereafter enforced, notwithstanding Borne or all of the Indl:btedncsB and obligations secured here.by
<br />which r.say now or hcrl"ltftf'r be otherwise secureu, whet.her by mortr.nr,e, del-d of trust, phldp;e, lien. .'\sslftTl-
<br />ment or otherwise. Neither the acceptance of this Deed of Trust nor ita enforcement, whether by court
<br />action or pursuant to t~1e pow(!r. of salc or other po'-!cra herein contained. shnll preJudice or in any
<br />manner affect. Tt'lIote~'fI or Bencflciary'e right to realize upon or enforcl' nny other security now or here-
<br />nfter held by Trustee or Renoftclnry, it being 8Hreed tho'll TruRtee nnd Bcnl'tlclnry, Bnd ench of them,
<br />Nhd.ll be cnt,lt:led to enforce this Deed of Trust and any other Recurtt",. now or hercafter held bv the Bcne-
<br />flcll1ry or Trust.ee In such orecr llnd manner lIS they, or either of them, mny In their l\bBolut'~ tl1sct"utlon
<br />determine. rlu remedy lwrctn conferred UpCnl or reAerved to Trustee or Beneficiary 19 intended to h(' cx-
<br />c:lunlve uf ~lt1Y (Jther re.medy hereln or by law provided or pennltt~d~ bllt each nhnil tu~ ,'um\1ll1ttvt~ And
<br />nhall be to addition to (Ivery other remedy Riven hen!under or now or hr.reo.ft'er t!xlSI in~ at In'''' In 1n
<br />equity or bv stat.ute-. Everv pO\I("r or remedy given by nny of the Ionn lnRtr\lmC'tll~' In TnUHt'(l 1'1 l\NW-
<br />rtclary or to 'lJhich r.ltht'r ot" t1u~m may ht. othl't"'Wlnt! entltled mAY b~ t.'xl'rctn,'ll. .-Pth'",'rt,,,t h' 11f lnd<'lwn-
<br />dunt:Jy. from timc." to t ImL~ Rnd tlr~ oft'"m lHl mAlY be de"lmr.d t~xt)t!dt~nt hy Tru,,(p,. nf J\r.'Ut'ftl'l:\r\', .,1\"\ l~tth"1
<br />of f.oom may ~1\If"AUfl lnconlli~ll~l1t r,'mI1c1ll"',t. UnlhloR h(lrc:~tn NhClll b,"~ ,.'''lO,ufluod a'l l'r,.hlhtl tll~'. l\l~nl.flcll'l\
<br />from ,u'(!Ik1n~ fI (tlJftftencv 1uditntt'llt .;l)t1J1nl~t Trtjntor to Iht, ..)tt~'nl 1l~11 II 11t'llnlt t., IlI'n~d11,'d h\ 1,,'101
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