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86- 1055 33
<br />(ti) commence an action to foreclose this Deed of Trust as a
<br />mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants hereof;.
<br />(c) deliver to Trustee a written. declaration of default and
<br />demand for sale, and a written notice of default and election to
<br />cause Trustoe's interest in the property to be 'sold, which notice
<br />Trustee shall cause to be duly,filed for record in the official
<br />records of the county in which the property is located.
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose
<br />by exercise of the power of sale herein contained, Beneficiary shall notify
<br />Trustee and shall deposit with Trustee this Deed of Trust and the note and
<br />such receipts and evidence of expenditures made and secured hereby as Trustee
<br />may require, and upon request of the Benefi;aary, the Trustee shall file for
<br />record, in the Register of Deeds office in the County where the property is
<br />located, a notice of default, setting forth the nuns of the Trustor, the
<br />Book and Page or Document No. of this.Deed of Trust as recorded in said
<br />Register of Deeds office, the legal description of the above-described
<br />real estate and that a breach of an obligation, for which said real'estate
<br />was conveyed as security, has occurred, and setting forth the nature of
<br />such breach and the. Trustee's election to sell the real estate to.satisfy
<br />the obligation; and after the lapse of not less than one (1) month, the
<br />Trustee shall give written notice of the time and place of sale which may
<br />be between 5:00 a.m. and 5 p.m. at the premises, or at the Courthouse in
<br />the County wherein such property is located, describing the property to be
<br />sold by its legal description, said notice to be published in a newspaper
<br />of general circulation in the. County wherein such property is located,
<br />once a week for five (5) consecutive weeks, the last publication to be at
<br />least ten (10) days, but not more than thirty (30) days, prior to the sale;
<br />and the Trustee shall then sell said property at the time and place
<br />designated in the notice, in the manner provided by law in effect at the
<br />time of filing said notice, at public auction to the highest bidder for cash
<br />and shall deliver to such purchaser a deed to the property sold, consistent
<br />with the law in effect at the time.
<br />Upon receipt of.the price bid, Trustee vfall deliver to the purchaser,
<br />Trustee's deed conveying the property sold. Recitals in the Trustee's deed
<br />shall be prima.facie evidence of.the truth of the statements made therein.
<br />Trustee shall apply the proceeds of the sale in the following order: (a) to
<br />all reasonable costs and expenses of the sale, including but not limited to,
<br />Trustee's fees of.not more than one (1) percent of the gross sale price,
<br />reasonable attorney fees and costs of title evidence; (b) to all sums secured
<br />by this Deed of Trust; and (c) the excess, if any, to the.person or persons
<br />legally entitled thereto. Any person, including Beneficiary, may"purchase
<br />said property at said sale.
<br />The person conducting the sale may,.for any cause he or she deans
<br />expedient, postpone the sale from time to time until it.shall be completed
<br />and, in every such case, notice of postponement shall be given by public
<br />declaration thereof by such person at the time and place last appointed
<br />for the sale; provided, if.the sale is postponed for longer than one (1) day,
<br />beyond the date designated in the notice of sale, notice thereof shall be
<br />given in the same manner.as the original notice of sale.
<br />14. Remedies Not Exclusive. Trustee and Beneficiary, and each of then
<br />shall be entitled to enforce payment and performance of any indebtedness
<br />or obligation secured hereby and to exercise all rights and powers under
<br />this Deed of Trust or under any loan instnment or other agreement or any
<br />laws now or hereafter enforced, notwithstanding some or all of the indebted-
<br />ness and obligations secured hereby which may now or hereafter be otherwise
<br />secured, whether by mortgage, deed of trust, pledge, lien, assipanent or
<br />otherwise. Neither the acceptance of this Deed of Trust nor its enforcement,
<br />whether by court action or pursuant to the poser of sale or other powers
<br />herein contained, shall prejudice or in any manner affect Trustee's or
<br />Beneficiary's right to realize upon or enforce any other security now or
<br />hereafter held by Trustee or. Beneficiary, it being agreed that Trustee and
<br />Beneficiary:, and each of then, shall be entitled to enforce this Deed of
<br />Trust and any other security now or hereafter held by the Beneficiary or
<br />Trustee in such order and manner as they, or either of then, may in their
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