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86--3 490994
<br />ance in possession of the property or the collection,
<br />or
<br />receipt and application of rents, issues profits,
<br />Trustee or Beneficiary may be entitled to exercise
<br />of the loan instruments
<br />every right provided for in any
<br />of any event of default,
<br />or by law upon occurrence
<br />including the right to exercise the power of sale;
<br />(b) commence an action this specifically
<br />Trust as a mortgage, appoint a
<br />enforce any of the covenants hereof;
<br />(c) deliver to Trustee 4 written declaration of
<br />default and demand for sale, and a written notice of
<br />in the
<br />default and election to cause Trustee's interest
<br />cause
<br />property to be sold, which notice Trustee shall
<br />official records of
<br />to be duly filed for record in the
<br />is located.
<br />the county in which the property
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect
<br />herein contained,
<br />to foreclose by exercise of the power of sale
<br />shall deposit with Trustee
<br />Beneficiary shall notify Trustee and
<br />the note and such receipts and evidence of
<br />this Deed of Trust and
<br />expenditures made and secured hereby as Trustee may require, and
<br />file for
<br />upon request of the Beneficiary, the Trustee shall
<br />office in the County where the
<br />record, in the Register of Deeds
<br />located, a notice of default, setting forth the name
<br />property is
<br />of the Trustor, the Book and Page or Document No. of this Deed of
<br />the
<br />Trust as recorded in said Register of Deeds office,
<br />- described real estate and that a breach
<br />description of the above
<br />for which said rea l estate was conveyed as
<br />of an obligation,
<br />and setting forth the nature of such
<br />security, has occurred,
<br />breach and the Trustee's election to sell the .real estate to
<br />one
<br />satisfy the obligation; and after the lapse of not less than
<br />of the time and
<br />(1) month, the Trustee shall give written notice
<br />0_:00 a.m. and 5 p.m. at the
<br />place of sale which may be between
<br />in the County wherein such property
<br />premises, or at the Courthouse
<br />describing the property to be sold by its legal
<br />a
<br />is located,
<br />description, said notice to be published in a newspaper of
<br />is
<br />:
<br />general circulation in the County wherein such property
<br />weeks, the
<br />located, once a week for five (5) consecutive ut not than
<br />ten (10) days,
<br />publication to be at least
<br />the sale; and the Trustee shall then
<br />thirty (30) days, prior to
<br />the time and place designated in the
<br />sell said property at
<br />by law in effect at the time of
<br />notice, in the manner provided
<br />notice, at public auction to the highest bidder for
<br />filing said
<br />and shall deliver to such purchaser a deed to the property
<br />cash
<br />sold, consistent with the law in effect at the time.
<br />Upon receipt of payment of the price bid, Trustee shall
<br />the property
<br />deliver to the purchaser, Trustee's deed conveying
<br />deed shall be prima facie evi-
<br />sold. Recitals in the Trustee's
<br />of the statements made therein. Trustee shall
<br />dence of the truth
<br />apply the proceeds of the sale in the following order: (a) to
<br />including but not
<br />all reasonable costs and expenses of the sale,
<br />than two percent (2 %) of
<br />limited to, Trustee's fees of not more
<br />attorney fees and costs of title
<br />the gross sale price, reasonable
<br />sums secured by this Deed of Trust; and
<br />evidence; (b) to all
<br />if any, to the person or persons legally entitled
<br />(c) the excess,
<br />including Beneficiary, may purchase said
<br />thereto. Any person,
<br />property at said sale.
<br />The person conducting the sale may, for any cause he or she
<br />to time until it
<br />deems expedient, postpone the sale from time
<br />case, notice of postpone-
<br />shall be completed and, in every such
<br />by declaration thereof by such person
<br />ment shall be given public
<br />time and place-: last appointed for tile. sale: provic ?ed, 'f
<br />at the
<br />the sale is Postponed for longer than one (1) day beyond the date
<br />thereof ::hall be given
<br />designated in the notice of sale, notice
<br />�
<br />in thy, :same manner as the original. notice of -;ale-
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