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200710614 D. When the TRUSTEE sells the trust propeliy pursuant to the powers granted herein, the TRUSTEE shall apply the proceeds trom the sale of such property in the following order of priority: (1) To the cost and expense of exercising the power of sale and of the sale, including attomey fees, evidence of title and other sale expenses, and a trustee's fee not to exceed four percent (4%) of the gross sale price; (2) To the payment of the obligation secured by this Deed of Trust and Trust Deed Note; (3) To the payment of junior Trust Deeds, mortgages, or other lienholders; (4) The balance, if any, to the person or persons legally entitled thereto. E. Upon the occurrence of any default hereunder, BENEFICIARIES shall have, in addition to such other options as may be granted herein, the fluiher option to foreclose this Deed of Trust in the manner provided by law for foreclosures of mortgages on real property. F. BENEFICIARIES may lrom time to time substitute a successor or successors to any TRUSTEE named herein or acting hereunder. Upon such appointment, and without conveyance to the successor TRUSTEE, the latter shall be vested with all title, powers, and duties conferred upon any TRUSTEE herein nanIed or acting hereunder. Each such appointment and substitution shall be made by written instrument and executed by BENEFICIARIES, containing reference to this Deed of Trust and its place of record, which, when recorded in the office of the Register of Deeds of the county or counties in which said property is situated, shall be conclusive proof of proper appointment of the successor TRUSTEE. The foregoing power of substitution and the procedure therefor shall not be exclusive of the power and procedure provided for by law for the substitution of a TRUSTEE in the place ofthe TRUSTEE named herein. G. TRUSTORS covenant and agree that upon any attempted conveyance, assignment, pledge or transfer of any of his interest in the premises during the term of the loan secured hereby, the BENEFICIARIES shall have the option of declaring the unpaid balance immediately due and payable, and if said sum remains unpaid for fifteen (15) days thereafter, BENEFICIARIES can cause Notice of Default to be given and the premises be sold as provided herein. H. As additional and collateral security for the loan, and effective f0l1hwith upon tiling of a Notice of Deflwlt, this instrument shall serve as an assignment by the TRUSTORS to the TRUS'l'EE, of all rents and revenues resulting H:om the property, and TRUSTEE is authorized to take possession of the property, rent or lease the same on terms he deems best mId to collect the rents and revenues and apply the same upon unpaid interest, principal, taxes or insurance premiums or for maintenance and preservation ofthe premises. I. The waiver by TRUSTEE or BENEFICIARIES of mlY default of TRUSTORS under this Deed of Trust, on one occasion, shall not be or be deemed to be a waiver of any other or similar defaults subsequently occurring. J. If title to any part of the property herein shall be taken in condemnation proceedings, by right of eminent domain, or similar action, or shall be sold under threat of condemnation, all awards, damages and proceeds are hereby assigned and shall be paid to the BENEFICIARIES, who shall apply such payment, or any pm1 thereot: in their sole discretion, to the sum due at that time on this Deed of Trust and Trust Deed Note, with any balance above the amount due hereunder payable to the TRUSTORS. K. The BENEFICIARIES, their agents or representatives, are hereby authorized to enter, at any reasonable time, upon any part of the trust property for the purposes of inspecting the same -3-