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<br />88- 104658
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<br />(b) There hilS occurrod a breach of or default under any
<br />term, CQVenilnt t agreement. cond! tion, prOl.... ision r reprp.sentation
<br />Dr warranty contained in this Deed of Trust, the note or any
<br />othel loan instrument secured hereby;
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<br />(c) There has been a default by the Trustor in the payment
<br />of any prior or subsequent line or encumbrance in respect to
<br />all or any part of the property;
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<br />(c) Trustor shall file a voluntary petition in bankruptcy
<br />or shall make an assignment for the benefit of creditors in re-
<br />spect to the property; or an action to enforce any lien or encum-
<br />brance or judgments against the property iE commenced.
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<br />11. Acceleration Upon Default. In the event of any default, Beneficiary may
<br />declare all indebtedness secured hereby to be due and payable, and the same shall
<br />thereupon become due and payable without any presentment, demand, protest or notice
<br />of any kir,d. ThereaftoT. Beneficiary may:
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<br />(a) eit.her in person or by agent, with or without bringing
<br />any action or proceeding, or by receiver appointed by a court
<br />and without regard to the adequacy of any security, enter upon
<br />and take possession of the property, or any part thereof, in
<br />its own name or in the name of the Trustee, and do an9 acts which
<br />1 t deems necessary and desirable to preserve the vallie, market-
<br />abllity or rentabllity of the property, 0, purt thereof or inter-
<br />est therein, increase the income therefrom or protect the security
<br />hereof and. without taking possession of the property. sue for
<br />or otherwise collect the rents, issues and profits thereof, in-
<br />cluding thOSE past due and unpaid, and apply the same, less costs
<br />and expenses of operation and collection, including attorney
<br />fees, upon any indebtedness secured hereby, all in such order
<br />as Beneficiary may determine. The entering upon and taking pos-
<br />session of Hie trust estate. the collection of such rents, issues
<br />and pl"Ofits and application thereof as aforesaid shall not cure
<br />or walve any defaulL Dr notice of default hereunder or lnvalidate
<br />any act and in response to such rlefoult or pursuant to such notiCE!
<br />of default and, notwi thstandlng Ule cUIllinuance ill pusses::.lon
<br />of the property or the collection, receipt and application of
<br />rents, issues or profits, Trustee or Beneficiary may be entitled
<br />to exercise every right provided for in any of the loan instru-
<br />ments Of by law upon uccurence of any event of default, including
<br />the right to e"Erclse thf> power of sale;
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<br />(b) commence an action to forecluse this Deed of Trust
<br />as a mortgage. appoint a receiver, or specifically enforce any
<br />of the covenants hereof;
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<br />(c) deliver to Truslee a written declaration of default
<br />and demand for sale, and a written notice of default and election
<br />to cause Trustor's interest in the property to be sold, which
<br />notice Trustee shall cause to be duly fi led for record in the
<br />official records of the county in which the pro~erty is located.
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<br />12. Foreclosure by Power of Sale. Should 88nef ic iary elec t to foreclose by
<br />exercise of the power of sale herein contained, Beneficiary shall notify Trustee
<br />and shall deposit with Trustee this Deed of Trust and the note and such receipts
<br />and evidence of expenditures made and secured hereby as Trustee may require, and
<br />upon request of the Beneficiary, the Trustee shall file t ur rt:'Lortl~ in the County
<br />where the property is located, a notice of default, settinrJ forth the narne of lhe
<br />Trustor, the Book and Page or Document No. of this Deed ot frust as recorded in the
<br />County, the legal description of the above-described reai estate and that a breach
<br />of an obligation, for which said real estate was conveyed as security, has occurred,
<br />and setting forth the nature of such breach and the Trustee's r=l13ction to sell the
<br />real estate to satisfy the obligation and shall mail copies of such notice in the
<br />manner prescribed by applicable law to Trustor and to such other persons prescribed
<br />by applicable law~ After the lapse of such time as may be required by applicable
<br />law, the Trustee shall give written notice of the time and place of sale to the per-
<br />sons and in the manner prescribed by applicable law. describing lhl:;' property to be
<br />sold by its legal description, said notice also to be published in a ftl?wspaper of
<br />general circulation in the County wherein such property is lm:at.b:d. .::It the tillles
<br />and in the fashion required by applicable law; and the Trust€'l:'! :.,Ildll tl-,pn ';,t~ll ~d.i.d
<br />property at the time and place designated in the 'lul.iCf:, in thp n..llllll'l" lll-t1vic1ed 11)
<br />18L.1 it' ~frect at the ti'Tlf? of filing said not1!_8. at putdil dlli' j'l!) 1'1 t"j' 11lqht" I
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