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<br />in default with respect ~l!~t()o~~y~ebtedness secured hereby. or in the performance of
<br />any agreement hereuncier. If any event of default described hereafter in respect to thia Deed of
<br />Trust shall have occurred and be continuiDg, Beneficiary, as a matter of right and without notice
<br />to Trustor or anyone claiming tmder Trustor, and without regard to the value of the trust estate
<br />or the interest of the Trustor therein, shall have the right to apply to any court having juris-
<br />diction to appoint a receiver of the property.
<br />
<br />10, Transfer of Property. If all or any part of the property or any interest of Trustor
<br />therein ia sold, transferred or further enc\Dllbared without the express or written consent of
<br />Beneficiary, Beneficiary may, at its sole option, declare all sums secured by this Deed of Trust
<br />to be immediately due and payable and proceed to the remedies available to it un4er the default
<br />provisions contained herein,
<br />
<br />11. Eve1lts of Default. A:ay of the following events shall be deemed an event of default here-
<br />under:
<br />
<br />(a) Trustor shall have
<br />interest. principal or principal and interest or any other sums secured
<br />hereby when due;
<br />
<br />(b) There has occurred a breach of or default under any term, covenant.
<br />agreement. condition, provision, representation or warranty contained in this
<br />Deed of Trust. the note or any other loan instrument secured hereby;
<br />
<br />(c) There has been a default by the Trustor in the payment of any prior
<br />or subsequent lien or encumbrance in respect to all or any part of the property;
<br />
<br />(d) Trustor shall file a voluntary petition in bankruptcy or shall be
<br />adjudicated bankrupt or insolvent. or shall make an assignment for the benefit
<br />of creditors in respect to the property; or an ac~ion to enforce any lien or
<br />encumbrance or judgments aga1Dst the property is commenced.
<br />
<br />12. 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 and
<br />payable without any prese~ent, demand, protest or notice of any kind. Thereafter. Beneficiary
<br />may:
<br />
<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 adequacy
<br />of any security, enter upon and take possession of the property. or any part thereof,
<br />in its own name or,in the name of the Trustee, and do any acts which it deems necessary
<br />and deshable to preserve the value. marketability or rentability 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
<br />the rents, 1ssues and profits thereof, including those past due and unpa1d, and apply
<br />the same. less costs and expenses of operation and collection, including attorney fees.
<br />upon any indebtedness secured hereby, all in such order as Beneficiary may determine.
<br />The entering upon and taking possession of the trust estate, the collection of such
<br />rents, issues and profits and application thereof as aforesaid shall not cure or waive
<br />any default or notice of default hereunder or inva11date any act and in response to
<br />such default or pursuant to such not1ce of default and. notwithstanding the continuance
<br />in possession of the property or the collection, receipt and application of rents,
<br />issues or profits. Trustee or Beneficiary may be entitled to exercise every right pro-
<br />vided 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;
<br />
<br />(b) cOllllllell.ce an action to foreclose this Deed of Trust as a mortgage, appoint a
<br />rece1ver, Dr specifically enforce any of the covenants hereof;
<br />
<br />(c) deliver to Trustee a written declarstion of default and demand for sale, and
<br />a written notice of defalut and election to cause Trustor's interest in the property to
<br />be sold, which notice Trustee shall cause to be duly filed for record in the official
<br />records of the county in which the property is located.
<br />
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exerciae of the
<br />power of sale herein contained, lleneH,ciary shall notify Trustee and shall deposit with Trustee
<br />th1s Deed of Trust and the note and such receipts and evidence of expenditures made and secured
<br />hereby 9S Trustee may requ1,re. snd upon request of the Beneficiary, the Trustee shall file for
<br />record, in the Register of ~eeds office in the County where the property is located, a notice of
<br />default. setting forth the nSlDl! of the Trustor. the Book and Page or Document No. of this Deed of
<br />Trust as recorded in sa1d Register of Deeds office. the legal description of the above-described
<br />real estate and that a breach of 3n obligation, for which said real estate was conveyed as security.
<br />has occurred, and setting forth the nature of such breach and the Trustee's election to sell the
<br />real estate to satisfy the obligation; and after tbe lapse of not less than one (1) IIlDDth. the
<br />Trustee shall give written notice of the time and place of sale which may be between 9:00 a.m. and
<br />5 p.m. at the premises, or at the Courthouse in the County Wherein such property is located. de-
<br />scribing the property to be sold by its legal description, said notice to be published in a news-
<br />paper of general circulation in the County wherein such property is located, once s week for five
<br />(5) consecutive weeks, the last publication to be at least. ten (10) days, but not more than thirty
<br />(30) days. prior to the sale; and the Trustee shall then sell asid property at the time and place
<br />des1gnated in the notice, in the manner provi.ded by law in effect at the time of filing said notice,
<br />at public auction to the highest bidder for cssh and shall deliver to such purchsser a deed to the
<br />property sold, consistent with the law in effect at the time.
<br />
<br />Upon receipt of payment of the price bid, Trustee shall deliver to !"-e purchaser, Truste~'s
<br />deed conveying the property sold. Recitals in the Trustee's deed shall b., prima faci., evidence
<br />of the truth of the staeements ~d., tharein. Trustee shall apply the froceeds of the sale in the
<br />folleving order, (a) to all reasonable costs and expenses of the sale, including but not Itmited
<br />to, Truatee's fees of not lIIOre than 2.0 % of Lhe gross sale pric...r....onabl.. attorney fees
<br />_d caaU of title evidence; (b) to all sums secured by this Deed of Truat; and (I:) the eX<:e8s. if
<br />any,to the penon or persona legally entitled thereto. Any peraon, including Beneficiary. .y
<br />porcheae said propert}' at said sale.
<br />
<br />The person conducting tbe .ale may, for any cause be or she deems expedient. postpone the sale
<br />fr~ tt.. to ti~ until it .hall be completed snd, in every such case, not lee of postponement shall
<br />be giYSD by public declaration thereof by sfxh persDO at the tide and place laat appointed for th~
<br />..b; prov:l.ded. if the 88le is poatponed for longer than one (1) day beyond the date designated in
<br />the notice of aale, notice thereof shall be given in the same manner ss the origins1 notlce of .a1e,
<br />
<br />14. ~diea Not Ex<:lullive. Trustee and BeneficiAry, and each of them. shall be ..ntit!..d to
<br />enforce paynant and per{o~ce of any indebtedness or obligation secur..d hereby and to exercise
<br />all riahta and ~n under this Deed of Trust or lIl1der any loan in.t rUlllent or other ..greement or
<br />any 1_ nov err her_Her anforcad. notv1lhnanding 80_ or all or the indebt..dnes8 And ob111lat 10ns
<br />...,,;aad M..eby whSch _y now or hereafter be olhervi... llecured. wh"thrr Itv mortll"Il". d"ad or trUM,
<br />
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