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<br />200706465
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<br />default hereunder, or invalidate any act done pursuant to such notice. Trustor assigns to
<br />Beneficiary, as further security for the performance of the indebtedness and obligations secured
<br />hereby, all prepaid rents and all moneys which may have been or may hereafter be deposited with
<br />Trustor by any lessee ofthe Property, to secure the payment of any rent or damages, and upon
<br />default in the performance of any of the provisions hereof, Trustor agrees to deliver such rents
<br />and deposits to Beneficiary. Delivery of written notice of Beneficiary's exercise of the rights
<br />e.Tfanted by this paragraph THIRD to any tenant occupying the Property or any portion thereof
<br />shall be sufficient to require said tenant to pay said rent to Beneficiary until further notice.
<br />FOURTH. If there shall be filed by or against the Trustor any petition or proceeding
<br />seeking any arrangement or composition or extension of any other relief under or pursuant to the
<br />Federal Bankruptcy Code or any other similar statute as is now or hereafter in effect, or if the
<br />Trustor shall be adjudicated bankrupt or insolvent or any of Trustor's property shall have been
<br />sequestered and such decree shall have continued undischarged and unstayed for 90 days after the
<br />entry thereof, then the whole of the Note and indebtedness hereby secured shall, without notice,
<br />at the option of the Beneficiary, become due and payable.
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<br />FIFTH. Upon default by Trustor in the payment of or performance of the terms and
<br />conditions of the Note, or any renewals, modifications or executions thereof, the payment of any
<br />other indebtedness secured hereby or in the performance of any agreement, covenant or warranty
<br />herein contained or set forth in any agreement or instrument executed by Trustor in connection
<br />with the indebtedness hereby secured, Beneficiary may declare all sums secured hereby
<br />immediately due and payable and the same shall thereupon become due and payable without
<br />presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may deliver to
<br />Trustee a written declaration of default and demand for sale. Trustee shall have the power of sale
<br />ofthe Property and if Beneficiary decides the Property is to be sold, it shall deposit with Trustee
<br />this Deed of Trust and the Note or notes and any other documents evidencing expenditures
<br />secured hereby, and shall deliver to Trustee a written notice of default and election to cause the
<br />Property to be sold, and Trustee, in turn, shall prepare a similar notice in the form required by
<br />law, which shall be duly filed for record by Trustee.
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<br />(a) After the lapse of such time as may be required by law following the recondition
<br />of Notice of Default, and notice of Default and Notice of Sale having been given as required by
<br />law, Trustee, without demand on Trustor, shall sell the Property hereinbefore described, and any
<br />and every part thereof, in separate parcels or en masse as the Trustee may elect and in such order
<br />as Trustee may detennine on the date and at the time and place designated in said Notice of Sale,
<br />at public auction to the highest bidder, the purchase price payable in cash in lawful money of the
<br />United States at the time of sale. The person conducting the sale may, for any cause he or she
<br />deems expedient, postpone the sale from time to time until it shall be completed and, in every
<br />such case, notice of postponement shall be given by public declaration thereof by such person at
<br />the time and place last appointed for the sale; provided, if the sale is postponed for longer than
<br />one (1) -day beyond the day designated in the Notice of Sale, notice thereof shall be given in the
<br />same manner as the original Notice of sale. Trustee shall execute and deliver to the purchaser its
<br />Deed conveying the property so sold, but without any covenant or warranty, express or implied.
<br />The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulness
<br />thereof. Any person, including without limitation, Beneficiary or Trustee may purchase at the
<br />sale. Said sale shall be conducted at the real estate forming a part ofthe Property or at the court
<br />house in the county in which the Property to be sold, or some part thereof~ is situated.
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<br />(b) When Trustee sells pursuant to the powers herein, Trustee shall apply the
<br />proceeds of the sale to payment of the costs and expenses of exercising the power of sale and of
<br />the sale, including, without limitation, the payment of Trustee's fees incurred, which Trustee's
<br />fees shall not in the aggregate exceed the sum of Five Hundred and no/lOa Dollars ($500.00)
<br />plus Yz of 1% of the amount secured hereby and remaining unpaid and then to the items set forth
<br />in subparagraph (c) of this paragraph FIFTH in the order therein stated.
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<br />(c) After paying the items specified in subparagraph (b) of this paragraph FIFTH, if
<br />the sale is by Trustee, or the proper court and other costs of foreclosure and sale if sale is
<br />pursuant to judicial foreclosure, the proceeds of sale shall be applied in the order stated
<br />below to the payment:
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