|
<br />. ,. 88- 104927
<br />
<br />h 801., tnndernd or further tlnCuMlluiJ whhout U.. .apt'" or written con..ne of bnlttdn)'.
<br />hndtduy .." I" Iu lah option. dlehr. .U 1.1 ..cured by ehb Dc.d at Trulc to b. i.edlatd,
<br />due In' pa,lble and proud to lh. r...d"', Ivlll.bl. to It under tho d.fault provS-tona conednlll
<br />hH"n~
<br />
<br />u. lYenU of o.rlult.. An)' of the followtnl ..,.nU ,hall b. da..od In lIyent of d.fault hUDmdarl
<br />
<br />(.) rrultor ahl11 have falhd to ..h P',..Rt of anJ tnn.11Mnt of lntualt.
<br />prlnctpal or prinelpal and Intlreu or any othar aua. eecund hereby when duel.
<br />
<br />(b) There h.. occurred I breach of or default under any UnI. covenant.
<br />Ilueaent, condition, provhlon. repreuntat10n or Wlrranty contained tn thla Deed
<br />of Tru.t, the note or any ather loan tnau_ene .Ieur.d hel'llby;
<br />
<br />(a) There h.. bllen . default by the Truator in th. p')lllume of Dn)' prior 01'
<br />lubaequent l1en or I!tIcUlllbnnc:.t!1 In rnpect to .U or eny part of the property;
<br />
<br />(el) Tl'Unor shall tUa a voluntarr petition in bankruptcy or shnll be adJudi-
<br />cated bankrupt or inlolvent. or ehdl ..ke an ...i.....nt for the benefit ar craditare
<br />In re.pect to the property; 01' an sction to enforce any lien or encuabl'lII1c. or juds'"
<br />~ntll aadnat tb. property h co.-need.
<br />
<br />u. kceleraUon Upon Default. In the event ot any default. Beneficiary 1114)' declne dl Indebudne..
<br />..eured herlllb)' to b. dUll and payable, and the .a. ahall thereupon beeo.1I dUll IInd payable without any
<br />pn..nt.ent. d..nd, protellt or noticII of Bn)' kind. Thereafter. Beneficiarya.YI
<br />
<br />ea) either in pereon or by .sent. vJth or without brinslns an)' action or pro'"
<br />ceodlna, or by receiver _ppolnted by . court and "Hhout usaI'd to the adequacy of
<br />.ny .ecurlt)', IIlDter upon IUId take po.....lon of the property, or any p.rt thereof,
<br />in Ita awn n..e or tn the n... of the Truatea, and do any act. whleh it dems necell.ary
<br />and deshllbl. to pnaerve the value, allrbtabillty 01' rentability of the property, or
<br />part thereof or interest therein, Jncreas8 the inc01lle thel'efrolll or protect the security
<br />hereof and, without taking poaaes.ton of the propert)', aue for or othendae collect the
<br />rentA, issues and profits thereof, indudins those past due and unpaid. and applY the
<br />S..B, le8. co.ta and expen... of operatIon and collection, includlns IIttomey fee., upon
<br />any lndehtednell l!Ieeured hereby, aU In euch order n Beneflciary !MY detenlne. The
<br />entering upon and taking pOllacdlfion. of the truat eatate. thl! ol!alleetlon of aueh rental
<br />i..uce and proUtll aud .ppltcatlon thereof 411 .t.,resald .hen not cure Dr walve any de-
<br />f.ult 01' notlc. of delault hereWlder or Jnv.Udate any act and In r..pOO8e to auch de",
<br />hult or punuant to .uch notice of def.ult and, natwithstendlns thl eontlnuance in
<br />poa.luslon of the property or the collection. receipt and eppUcAt Ion of rent., isauea
<br />or proflu, Truaua or lIen.Uclary ..y bll entitllld to eK.rche Ilv.ry dlht provided for
<br />in any of the loan in.trwaenu or by law upon occurrenu of any .vant of default, in'"
<br />cludlna the rilht to exerch. ,.he paver of aale;
<br />
<br />eb) c~ence an action to foreelon thl. Deed of Trust .. a morea_SII, .ppoint
<br />a rac.hero or .p.eUlcaU)' enlorce any of the covenant a "enof;
<br />
<br />(c) deliver to Trustee a vrltten declaration oC del.ult and denaand for aale,
<br />and a written notice of def.ult .nd elect Jon to c.u.a Truator'. intereat in the propertJ
<br />to be .old, which notic. Truete. 8hall uua. to be dul,. fUed lor record in the official
<br />record. of the county in which the property Ie located.
<br />
<br />13. Foreclo.ure by Pover of Sale. Should Beneficiary elect to foredose by e"erche of the pow.r
<br />of .al. henin contaln.d, leneUc1ary .hall notify Truate. and .hall depoalt with Truetee thh Deed of
<br />TrWlt aad the nota and .ueh l'ecelpU and evidence of expendltu.... Mda and ..eund hereby 1111 Truet..
<br />-.sy require. and upon requeat of the Beneficiary. the Trult.a ....11 fib for record, In the Be.later
<br />of Oiled. oUlce In tile cown.y where the property b located, a notlu 01 default, IBttlng forth the
<br />n__ of the Truator, the look and Peae or Docuaent Ho. of thh Deed ot Trust .a recorded tn !lald
<br />Reallter of Deed. ofUce, the had description of the above"'deacrlbed relll eaUU .nd thllt II breach
<br />of n obU.llt1on, for vhlch aaid real eatate va. conveyed .. .ecurlty, haa occuned. and lIettinl lorth
<br />the n.tura of aueh b....ch .nd the Trustee'. election to .el1 the real utate to Bathly the obUptlon;
<br />and alter the lap.a of not te.. than one (I) IIDnth, the Truatl!!ll ahall aive written notict!: of the Cl_
<br />and phc. of ..1. ..hieh M, be b.tween 9:00 .... and 5 p... at the pre_la... or at the Courthou.e In
<br />the County wherein Buch property Is loeated, de.edblnB the property to be sold by it.. les.l deacrlp-
<br />tion, ..id nottc. to ba publhhed In a newapaper of Boner.l ctrcubtlan in tho Count)' "".reln .ueh
<br />propert,. I. located, onc. a veek for five (5) conlecutive weeks, the laat publication to be at laaat
<br />tea. (10) day., but not 11101'. than thirty ()D) da)'a. pdor to'" the ..Ie; and the Trult.. ehall then ..11
<br />..ld prop.rty at tha tt.a and place d.atsnat.d in the notic., in the _nnar provIded by law In effect
<br />.t the ti_ of fillna said notice. .t publlc .uction to the hllh..t bidder for C8l1h .nd .haU dell....:
<br />to auch purcba..r a d.ed to the propart,. .old, c....hUnt with the la", in effect at tha tbe.
<br />
<br />Vpoa receipt of the prlCII bid. Truate. shall dallv.r to tha purche.., Tru.u.'. deed conyaylnl the
<br />property .ald. .nlta" in the Truete.l. dud lIh.all ba prl... fade oY1dcnce of the truth of the st:ate'"
<br />unU ..d. th....b. Tru.tee .hall applY the prDCBllda 01 the .all' In the fliJllowlnS orderl (a) to all
<br />uaaonabl. cosU and expanse. of the ..h, lncludlnl but not U.lted to, Truatee'. fee. of not lItO~e
<br />U*,_Z of the Iroa. .ale price, re..onable attorney feea .nd coata of title evidence; (b) to aU
<br />..... ..cured by thh Delli! of Trust; and (e) the 1:1Ice.., if anJ, to the panon or penon. 1es.11)' en-
<br />titled thllreto. Any p.non. Includina BeMlflduy. ..y purchau add property .t aaid ..Ie.
<br />
<br />Th. peraon conductlRll the ..1e .." for any caue. he or aha dll!:lI!:aa expedient. postpone the a.le fro_
<br />t'" to el_ until it .hall b. coapl.ted and. In ev.ry .uch ca.., notlc. of po.tpona..nt ah.ll ba &lv.n
<br />by publ:lc dacl.ratlon thereof by such peuon at the t I.. snd place hat appointed for the a.b; pro-
<br />vidacl. if tlae 8ale 1. poltponed far longer than one (1) d.y beyond the due de. Ignited in the not lee of
<br />a.1e, notic. thereof .h.ll bl! &1,"10 In the .... ....n.r .. the oriain.l not:lee of ..le.
<br />
<br />UI. 1e_IU.. Hot bclua1v.. Trustee and Beneficiar" _d ..ch of the_. sh.ll be eDtltled to en-
<br />forea P.,...lIt arut pedoraaace of an1 Indebudne.a or obUllltion .ecured hereb,. and to curchl! aU l'iShU
<br />.-d povan UDder thia Deed of Tru.t or under any loan tn.tru.ent or othar Igreellent or .ny law. nov 01'
<br />her.arcer ..forc.d, notwith.u.odlna eo_ or aU of the Indebtedne.. and obUlatlon. secured hereby
<br />which -J' oov or ".r.after ba otherviae secured, whet.her b)' IIQrtsaae, deed of trust. pledse, Hen. a..lln'"
<br />_t or oth.rwl.e. Ndther the .ccepunce of thb De.d of Truat nor i1:8 enforce_nt, whether by court
<br />actlan or punuant to the pover of ..le o~ other poven h.reln contolned. .h.U prejudice 01' in any
<br />.....r .ffect Truat.... or Beneflclary'. rlpt to nallae upon or enfo~ce any other .ecudty now or har.-
<br />.ft.r bIIld by Tnaeu. or leneflder" Jt belnl Ilreed that Truatae and Beneficlar,., and .ach of t:h_,
<br />.hall b. elltltled ta e:dorce tllla Deed 01 TrUllt: and any othllr .ecul'lty now or hereafter held by the Bene-
<br />ficial" or Truat_ In .ueh order and .allRer a. they, or elth.r of the_. auy in thaiI' .b.olute dl.eretlon
<br />dalarala.. 110 r~y herein conhrred upon or relerved to Tru.tee or aeneClctary 1a intended to bll 4&-
<br />el\d1ve of an, other r_d, herein or by 1a" provided or penlittrd. but each ..hall be CUllulatlv. .nd
<br />ahaU be In a4i1ltton to every othn reaedy liven hllr.under or now or herraher e..hting at law or In
<br />8<<IultJ o~ by .tatuta. Ev.~r power or reo.d,. II.,.n by any of rhe loan tnatru.enu to Truelae Ot lIen.-
<br />HelaTY or to which either oC the:. ..y bc othcrwh_ entitled aa)' b. IIIJlt!r~ hicd. concurrent 1,. or Indepen-
<br />dently. rru. U_ to tt.. an4 .. oft.n .. .,. b. dRe_d elqtedhnt by Trustee or BenefiCiary, and IlHhe..
<br />of t"'., FU".. Incm.lacent r...dh.. Hothlnl henln .halL be con.trued .. prohibit In. !IenrClc:la..y
<br />r.... ...Illa, a deUcl.nc,: Juda_nt ....In.t fru.tor to th. ..t.nt .uch action 18 (I......1tted by law.
<br />-z-
<br />
|