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<br />86-- 1L07297
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<br />is sold, transferled or further encumbered vlthoust the express or written consent of P.eneficiaiy,
<br />Beneficiary may, at its sole option, declare all sums secured by this *.seed of Trust to be Immediately
<br />due and payable and proceed to the remedies available to it under the default provisions contained
<br />herein.
<br />11. Events of Default. Any of the following events shall be deemed an event of default hereunder:
<br />(a) Trustor shall have failed to make payment of anv installment of interest,
<br />principal or principal and interest or any other sums secured hereby when due;
<br />(b) There has occurred a breach of or default ceder any term, covenant,
<br />agreement, condition, provisicxs, representation or warranty contained in this Deed
<br />of Trust, the note or any ether loan Instrument secured hereby;
<br />(c) There has been a default by the Trustor in the payment of any prior or
<br />subsequent lien or encumbrance In respect to all or any part of the property;
<br />,d) Trustor shall. file a voluntary petition in bankruptcy or shall be adjudi-
<br />cated bankrupt or insolvent, or shall make at,, assignment for the benefit of creditors
<br />I
<br />n respect to the property; or an action to =nforce any lien or encumbrance or judg-
<br />ments against the property is commenced.
<br />12. Accelerations default. in the event of any default, seneflcisry may declare all. indebtedness
<br />secured herehv to be due and payable, and the same shall thereupon become due and payable 'without any
<br />presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may:
<br />(a) either in person or by agent, with or without bringing any action or pro -
<br />ceeding, or by receiver appointed by a court and without regard to the adequacy of
<br />any security, enter upon and take pcssession of the propert., or any Part thereof,
<br />to its own name or in the name of the Trustee, and do any acts which It deems necessary
<br />and desirable to t,reserve the value, marketability or rentability of the property, or
<br />part thereof or interest therein, increase the income therefrom or protect the security
<br />hereof and, witho•at caking possession of the propert,, sue for or otherwise collect the
<br />rents, issues and Profits thereof, including those past due and unpaid, and apply the
<br />same, less costs and expenses of operation and collection, including attorney fees, upon
<br />ar,v Indebtedness secured bcrebv, all in such order as 3e nef lciary nag determine. The
<br />entering upon and taking possessio,,, of the trust estat-&, the collection of such rents,
<br />issues and profits and application thereof as afore -,aim shall not cure or waive anv de-
<br />fault or notice of default hereunder or Iu al>date any rut and in response to such de-
<br />fault nr pursuant to such notice of default and, nrtw:Uatanding the continuance in
<br />possession of the prope ;tv or tine collection, receipt and application of rents, issues
<br />or profits, Trustee or Beneficiary nav be entitled to exercise c-cer, right trovided for
<br />in any of the loan insrruments or by law upon, occurrence <-f anv event of dt...aulr, in-
<br />cludiag the right to exercise the power of sale;
<br />(r,i commence an action to foreclose this Deed •:f Trust as a s.ortgage. appoint
<br />a receiver. or specifically enforce anv o` the *ovenants hereof;
<br />ic) ,te)fvc ._ :. _ -.. a ,..tten declaration of default and demand for sale,
<br />and :t written notice of Tdefault and election to cause 1rustor's Interest in the property
<br />tc ts, sold, which notice Trustee shall clause to be duly filed fvr record in the official
<br />records of the wont-; in which the proper-,,- is located.
<br />13. Foreclosure b- Power cf :ale. should Beneficlary elect to orec lose loin exercise of the power
<br />of sale herein contained, Bene.lclary %'rill netiP; Trustee and shall deposit with Trustee this Deed of
<br />Trust and ti:e note and such receipts and evidence of expenditures ^lade and secured '.:erebv as Trustee
<br />may require, and upon request of tie at.eficiarv, *_ : ^.e T.Tistee shall file for record, in the Register
<br />of Deeds office in the Count' w,-re the Property is :orated, a notice of default, setting forth the
<br />name of the Trustor, the Book and page or Document ` +o. o` this need of Trust as recorded in said
<br />Register of Deeds office, the legal description of the above- described real estate and that a breads
<br />of an obligation, for which said real estate was conveyed ss security, has occurred, and setting forth
<br />the %store of such breach and the Trustee's election to sell the real estate to satisfy the obligation;
<br />and after the :apse of not less than one (1) montn, the "rvstee shall .'give written notice of the time
<br />and place o.- sate ici: ma' '-e between a.m. and 5 p_m, at the premises, or at the Courthouse in
<br />the Count' wherein such propctty is located, describing the property to be sold by its legal descrip-
<br />tion, said notice to be published in a newspaper of general circulation in tine Countv wherein such
<br />propert•: is located, once a week for five (.51 consecutive weeks, the last publication to be at least
<br />te❑ (l + }i dsy S, bu .,
<br />t ot roe •.r :a ^. thirty •(?
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