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<br />RE.RECOROE[) 88_:l, 0 4276
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<br />881';"'7o~p~~e,zd or' fur-thlll' IIncuabcred without the IIxpre.. or written consent of Beneficiary, ,
<br />IenaUeta\-y ..,. at Ita .ole option, dedare aU Bums aecured by thill Dead of Trullt' to be ll11Ud1ately
<br />due and payable and proceed to the remedies available to It under the default provialonll containud
<br />herein.
<br />11. Event. of Default. Any of the followIng IlIvenu shall be deemed an event of default heretmdDrl
<br />ea) Trulltor &hall have f.ned to ..lee payaaent of any Inl!ltallMnt of intereat,
<br />principal or pr-Inclpal ...d Interest or any other aUllls secured hereby when due;.
<br />(b) There h.. occurred . breach of or default under any term. covenant I
<br />asreeaent. condition, provhlon. repre.entation Dr warranty contained in thia Deed
<br />of' Trust, the note Dr any other loan ~1UItr\lDent secured her-eby;
<br />(e) There hall been a default by the TI:UBtor in the payment of any prior or
<br />subsequent lien or encumbrance in respect to all or any part of the property;
<br />(d) Trustor shall file a voluntary petit ion in bankruptcy or shall be adjudi-
<br />cated bankrupt or insolvent. or ahall make an assignment for the benefit of creditors
<br />in respect to the property; or an action to enforce any lien or encumbrance or Judg-
<br />IlenU against the property Is commenced.
<br />12. Acceleration Upon Default. In the event of any default. Beneficiary may declare all indebtedness
<br />.ecured hereby to be due and payable. and the same shall tbel'eupon become due and payable without any
<br />present.mt. dallllUld. protest or notica of any kind. Thereafter. Beneficiary may:
<br />(.) eithlC!r in parDon or by agent. with or vitbollc brInging any actIon or pro-
<br />ceedlnB. or by receiver appointed by a court and w:l,thout regard to the adequacy of
<br />any security. enter upon and take possession of the property, or 8{lY part t:hereof.
<br />tn Us own nalU!! or in the nlllle of the Trustee, and do any acts which it deems necessary
<br />and desirable to preserve the value. marketabiliey or rentab1lity of the property. or
<br />part chereof or interest therein. increase the income therefrom or protect the security
<br />hereof 4Ind. without taldng po.sesaton of the property. sue for or othervise collect the
<br />rentll. lnuu and profit. thereof. includina elm_I! past due and unpaid. and apply the
<br />D._, leD. callt. and expense. of operation and eollect:ion. ineludins attorney fees, upon
<br />~y 1ndeb~lItdnc.. .ecured hereby. .11 in lIuch order as Beneficiary may determine. The
<br />enterlna upon and takinS po..e..lon of the tru.t estate. the collection of such renta,
<br />iuuea and prof1u and application thereof a8 aforesaid shall not cure or vaive any de-
<br />fault or notice of dl:lfault hereundllr or invalida~e any act and in re.pOIIee to such de-
<br />fault or pur.uant to auch notice of default and, notwtthatandlnB the: continuance in
<br />po..eliaion of the property or the collection. receip~ and application of rents, tasues
<br />or proUta, TrUllue or Beneficiary may be .ntitled to exercise every right provided for
<br />in any of the loan instr..enes or by lav upon occurrence of any event of default. tn-
<br />cludlns the riSht to eurcbe the pO_I' of lIale:
<br />(b) cO.l!Ilce an action to forecloae this Deed of Truat e. a DIOnsaBe. appoint
<br />.. receiver, or specifically enforce any of the covenants hereofi
<br />(c) deUver to Trustee a vrltten declaration of default and dl!mAfld for .ale,
<br />and a wrttten notica of default and elect ton to cau.a Trustor's intereat in the propatty
<br />to be .old. "hich notice Trustee ahall cause to b. duly filed for record in the official
<br />records of the comty In which the prop.rt)' 18 located.
<br />13. Foreclosun by Power of Sale. Should BePllf:lchry dect to forec1o.e by exercise of the pow.r
<br />of aale henln cODtalned. .eaeftc1ary ....11 DotHy Trustee and ahall depostt with Truste. ehh Deed of
<br />Truat and. the note aru1 .uch receipts and evidance of expenditure. ..de IInd aecured hereby alii TTWltee
<br />auy require. and upon reque.t of the BenafiC:iary. the Trustee shall file for recol'd. in the RestateI'
<br />of Deeda offlce in the COlmt)' where the property b located, a notke of default, setting forth the
<br />~ of the Truator. the Book and Page or Document No. of tbb Deed of TrUllt a. recorded in _1d
<br />Reguter of Deeds offica. tba lea_I deacription of the .bovll-described rea! en.te and that a breach
<br />of an obligation. for which .ald real estate waa conveyed .. security. ha. occuned. and settina forth
<br />thl! nature of such breacb and tha Truatea' a elect 100 to sell the real e.taU to sat Idy the obUsaUoni
<br />and after the lap.e of not Ie.. than one (1) IKlIIth, the Trustee .hall give witten notice of the tiIMI
<br />and pl.ce of s.le whtch _y be betveen 9:00 .... III'ld 5 p.ao .t the preah... or .~ the Courthouse in
<br />the County vherein Iiluch property b located. describinl the property to be aold by it. 1eBal deacrip-
<br />tion. ....id notice to be published in a nlC!wapaper of aeneral circulation in the County wherein .uch
<br />property h located. once. week for five (5.) coa..cutive veeka, the la.t publication to be at leut
<br />ten (10) days. bu~ not ~re than ~hlrty (30) days, prior to" the .alei and the Trustee shall then ..11
<br />..id proparty .t the tiao and place dellipated in tha notice. 10 the tunnel' provided by l.w In effect
<br />at tbe ci_ of fUing aaid notice. at. public .uction to the highut bidder for cash and shall deliver
<br />to .uch purchaser a deed to the property aold, conaiatent with the law In effect at the tille.
<br />IJpGIl I'eceipt of the priee bid. TruAtea f.lhall ".Uy.r to the purcha.e. Truatee '. deed cD;lY8JlnB tbB
<br />propet't)' .Dld. lecltal. 1D the trustee'. deed shall be pr1" facie evidence of the truth of the .Ute-
<br />.-au _de thar.'n. Truaue ....dl apply the procaeda of the .ale In che foUow1q orderl (a) to.aU
<br />r.aaoaable cost. and expenH. of the .alll. including but not Ibdclld to. Tru.cee'a feea of no~ .-ore
<br />than_X of cblC! lro.a sale price. reaaanable sttome, 'eee and coats of title evidence; (b) to all
<br />.uu secured by chIll Deed of Trust; and (c) the eace.a. if any, to the penon or pereons legally en-
<br />titled thereto. Any penon. including Beneficiary. ..y purchase .aid property at said sale.
<br />Tba per.OIl cODductlp& the aale ..,.. for:' any causa h. or .he de... expedient. postpone the sale fr~
<br />tt.. to ta- UIlt:ll it .hIIll be c~leted 1IIDd. iu every auch case. no~fce of poacponegent aha 11 be gtven
<br />by public declar.~ion thereof by such peraon at the tbte and place last appoLnted for che lule: pro-
<br />vided. if the aale 18 ponponed for longer ~han one (1) day beyond the date destgnated in the Dottce of
<br />.ale, notice thereof ahall be alven in the s__ aanne:r .aa tbe oriaina! notice of ..118.
<br />u.. ....d:lea Hot Exr.l\dive. Trulltee IIIDd Beneflcial"J', md eac.h of t~, shall be entitled to en-
<br />force p~t ..nd perfol'lallDce of an)" 1ndebtednesa or obUptlon aecured hereb)' and to e.rciae .11 r:lghu
<br />and powen UDder tbb Deed of TrlI8t or under any loan 1nstrUlEnc or o~her agree_nt or any la..,. now or
<br />h.....her enforced. aotvlth.tandlns; 1101111 or all of the indebtednelll!l aod obUBatlons secured hereby
<br />whtcl> MY aov or hereafter be othe:rv:lae secured, whether by ~rtl!;sBt!, deed of trust, pledge. Uen, as. ian-
<br />-.at or otbarwl.e. Raither the acceptance of chis Deed of Trullt oar Ita enforcelllent. whether by court
<br />.ctioD or pur....t to the power 01 ..le or other' power. herein contained. shaH prejudice DC' .In any
<br />aaa.nar anact TrUlltee'. or 8eaeficiary'a '['ilht to rea1i&e upon or enforce .ny other security now or here-
<br />after bald by Tr..au. or Baaefictary. it being asreed that TrUlltl!e sad Bendtcl8ry. ud each of thell.
<br />aMIl be eDtitled to enforce ttlla Deed of Trust and any other security now or hereafter held by the Bl!lne-
<br />f1clar, or Truate. 10 auch order and -.anneI' all they. or either of the_, ..y in their absolut.e dhcretion
<br />d.t..~1ne. No r~y hereto conr.rred upon or reserved to Trustee 01' Beneficiary Ls intended to be ek-
<br />cluai... of An)' other Ir,..dy herein 01' by law prol.oSded or pentLtted, bu~ each shall be CUlluht he and
<br />ah.ll be lD addition to every other relledy given hereunder or now or heruafttl'r elllst tna at law or In
<br />eqyit, or by .tatute. Every p~r or r~d)' siven b)' any of the loan lnlltrulllcnts to Trustee or Bene-
<br />ficiary or to which either of the. ..y be otherwlae entitled _y be t!lerclwt!d. coneua-Tlmtly or Indepen-
<br />d.nU7. h~ tl_ to tl.. and .a often .. ...y be deeMd expedler.t by TrUlilN' .,IT Reneflcl4ry, and eJttun
<br />of tt...., pur.ue tncon.i.tent 1'~dl.a. Hothln& herein sball be L-onslruL'd 01'" l'ruhlbltlnK Uendlelury
<br />rroa ...klna . dllflt:leacy Judlll_at a.alnst Truatur to cll. 0.111'111 lIu.b "rll"n I!I 1"'!nnlll,.J by IIIIJ,
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