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86-- 10669,1
<br />or further encumbered without the express or written consent of
<br />Beneficiary, Beneficiary may, at its sole option, declare all
<br />sums secured by this Deed of Trust to be immediately due and pay-
<br />able and proceed to the remedies available to it under the
<br />default provisions contained herein.
<br />11. Events of Default. Any of the following events shall
<br />be deemed an event of default hereunder:
<br />(a) Trustors shall have failed to make payment of
<br />any installment of interest, principal or principal and
<br />interest or any other sums secured hereby when due;
<br />(b) There has occurred a breach of or default
<br />under any term, covenant, agreement, condition, provi-
<br />sion, representation or warranty contained in this Deed
<br />of Trust, the note or any other loan instrument secured
<br />hereby;
<br />(c) There has been a default by the Trustors in
<br />the payment of any prior or subsequent lien or encum-
<br />brance in respect to all or any part of the property;
<br />(d) Trustors shall file a voluntary petition in
<br />bankruptcy or shall be adjudicated bankrupt or insolvent,
<br />or shall make an assignment for the benefit of creditors
<br />in respect to the property; or an action to enforce any
<br />lien or encumbrance or judgments against the property
<br />is commenced.
<br />12. Acceleration Upon Default. In the event of any default,
<br />Beneficiary may declare all indebtedness secured hereby to be due
<br />and payable, and the same shall thereupon become due and payable
<br />without any presentment, demand, protest or notice of any kind.
<br />Thereafter, Beneficiary may:
<br />(a) either in person or by agent, with or without
<br />bringing any action or proceeding, or by receiver
<br />appointed by a court and without regard to the adequacy
<br />of any security, enter upon and take possession of the
<br />property, or any part thereof, in its own name or in
<br />the name of the Trustee, and do any acts which it deems
<br />necessary and desirable to preserve the value, market-
<br />ability or rentability of the property, or part thereof
<br />or interest therein, increase the income therefrom or
<br />protect the security hereof and, without taking posses-
<br />sion of the property, sue for or otherwise collect the
<br />rents, issues and profits thereof, including those past
<br />due and unpaid, and apply the same, less costs and
<br />expenses of operation and collection, including attorney
<br />fees, upon any indebtedness secured hereby, all in such
<br />order as Beneficiary may determine. The entering upon
<br />and taking possession of the trust estate, the collec-
<br />tion of such rents, issues and profits and application
<br />thereof as aforesaid shall not cure or waive anv
<br />default or notice of default hereunder or invalidate
<br />any act and in response to such default or pursuant to
<br />such notice of default and, notwithstanding the continu-
<br />ance in possession of the property or the collection,
<br />receipt and application of rents, issues or profits,
<br />Trustee or Beneficiary may be entitled to exercise
<br />every right provided for in any of the loan instruments
<br />or by law upon occurrence of any event of default,
<br />including the right to exercise the power of sale;
<br />a.
<br />(b) commence an action to foreclose this Deed of
<br />Trust as a mortgage, appoint a receiver, or specifically
<br />enforce any of the covenants hereof;
<br />(c) deliver to Trustee a written declaration of
<br />default and demand for sale, and a written notice of
<br />,
<br />default and election to cause Trustors' interest in the
<br />-
<br />property to be sold, which notice Trustee shall cause
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