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86, 110542$
<br />(b) There has 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 loan instrument secured hereby;
<br />(c) There has been a default by the Trustor in the payment
<br />of any prior or subsequent line or encumbrance in respect to
<br />all or any part of the property;
<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.
<br />11. Acceleration Upon 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 payable without any presentment, demand,protest or notice
<br />of any kind. Thereafter, Beneficiary may:
<br />(a) either in person or by agent, with or without bringing
<br />any action or proceeding, or by receiver appointed by a court
<br />and without regard to the adequacy of any security, 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 any acts which
<br />it deems necessary and desirable to preserve the value, market-
<br />ability 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. The 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 pcwE;r of sale;
<br />(h/ commence an action to foreclose this Deed of Trust
<br />as a mortgage, appoint a eceiver, cor specifical -iy enforce any
<br />of the covenants hereof;
<br />(c) deii.ver to rustee a u.itten declaration of default
<br />and demand for sale, and a written notice cf default and election
<br />to cause Trustor's interest in the property to be sold, which
<br />notice Trustee shall cause to be dully filed for record in the
<br />r;fficial records of the county in which the pro;,ert;: is located.
<br />12. Foreclosure by Power of Sale. Should tiener'iciary elect to foreclose by
<br />exercise of the power of sale herein contained, Beneficiary shall notify Trustee
<br />and shall deposit with Trustee this Deed of Tr1ist 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 f;.,th *_he name of the
<br />Truster, the Book and page or Document No. of this Feed of trust as recorded in the
<br />County, the legal description of the above- described real restate 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's election to sell the
<br />real estate to satisfy the obligation and shall mail copies of such notice ir. tie
<br />manner prescribed by applicable law to Trustor and to s.,•;h )ther persons ;!resented
<br />by applicable law. After the lapse, of such tirne as may t,e :eguirr'd by ..,pt�l.icable
<br />law, the Trustee shall give ur:t:ten notice of :rte tilr�e i:id ;;1a{ e :�f ,ale is the ;,c�r-
<br />sons and in the mariner prescribed by apa,;rabir ! - -3)w,
<br />sold by its lec;al dosc.-iptiun, said ;!.... yit,.. ;e t;'i_ ,t:! i
<br />general circula :iun ,:, t�,e Lourrty where j,:
<br />ant:! in th {? f_1"hl[)n -eqr r bed 1,JY a i ;atJla a'f .i 6 1 .
<br />prr¢Zelty .lt ttiQ ti ^r° Jfld piaLk de ly'l,]tet1 ..
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<br />laid 1_ir'!(•: of t?lrlt `ad;
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