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<br />88- 106939
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<br />(b) Tllere hes occurred a breach of or default under any
<br />term, covenant, agreement, condition, provision. representation
<br />or warranty contained in this Deed of Trust, the note or any
<br />other loen instrument secured hereby;
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<br />(c) There hes been a default by the Trustor in the payment
<br />of eny prior or subsequent line ur encumbrence in respect to
<br />,,11 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 is commenced.
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<br />11. Acceleration UDon 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 payabla without any presentment, demand, protest or notice
<br />of any kind. Thereafter, Beneficiary may:
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<br />(a) either in person or by agent, with or wi thout bringing
<br />any action or proceeding, or by receiver appointed by a court
<br />and without regard to the adequacy of any secud ty, 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 an)? acts which
<br />it deems necessary and desirable to preserve the value. market-
<br />abili ty or rentability of the property, or part 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. Th... entering upon and taking pos-
<br />session of the trust estate, the collection of such rents, issues
<br />and profits and application thereof as aforesaid shall not cure
<br />or waive any default or notice of default hereunder or invalidate
<br />any act and in response to such default or pursuant to such notice
<br />of default and, notwithstanding the continuance in possession
<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 or by law upon occurence of any event of default, including
<br />the right to exercise the power of sale;
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<br />(b) commence an action to foreclose 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 Trustee 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 filed for record in the
<br />official records of the county in which the property is located.
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<br />12. Foreclosure bv Power of Sale. Should Beneficiary elect to foreclose by
<br />ex.ercise 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 for record, in the County
<br />where the property is located, a notice of default. setting forth the name of the
<br />Trustor, the Book and Page or Document No. of this Deed of Trust as recorded in the
<br />County, the legal description of the above-described real 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 I s election 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 aDDlicable 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 the property to be
<br />sold by its legal description, said notice also to be published in a newspaper of
<br />general circulation in the County wherein such property is located, at the times
<br />and in the fashion required by applicable law; and the Trustee shall then sell said
<br />property at the time and pl6:ce designated in the notice, in the manner provided by
<br />law in effect at the time of filing said notice, at public auction to the hiqhest
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