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MkroiO00475
<br />further, this Trust Deed may, at Lenders option, be declared immediately due and payable if (1) Borrower is a
<br />partnership and sells or assigns by any means whatsoever any partnership interest, or (2) if Borrower is a corporation
<br />and Borrower or its parent corporation sells or assigns by any means whatsoever % or more of the stock
<br />of the corporation or parent corporation or if said Borrower or its parent corporation merges in any form with
<br />Mother corporation or entity, or (3) if Borrower is a corporation and there is a change in the majority of the mem-
<br />bers of the Board of Directors cf the Borrower or its parent corporation, or (4) if Borrower is a corporation and
<br />there is a change in the person of Chief Executive Officer of said corporation or its parent corporation. Beneficiary
<br />shall have waived such option to accelerate if, prior to the sale, transfer or conveyance, Beneficiary and the person to
<br />whom the property is to be sold or transferred reach agreement in writing that the credit of such person is satis-
<br />factory to Beneficiary and that the interest payable on the sums secured by this Trust Deed shall be at such rate as
<br />Beneficiary shall request.
<br />12. Acceleration upon Default; Remedies• Sale. Upon default by Trustor in the payment of or performance
<br />of the terms and conditions of the Note, or any renewals, modifications or extensions thereof, or the payment of
<br />any other indebtedness secured hereby or in the performance of any of the covenants or agreements hereunder,
<br />Beneficiary may declare all sums secured hereby immediately due and payable and the same shall thereupon become
<br />due and payable without presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may deliver to
<br />Trustee a written declaration of default and demand for sale. Trustee shall have the power of sale of the Property
<br />and if Beneficiary decides the Property is to be sold it shall deposit with Trustee this Trust Deed and the Note or
<br />notes and any other documents evidencing expenditures secured hereby, and shall deliver to Trustee a written notice
<br />of default and election to cause the Property to be sold, and Trustee, in turn, shall prepare a similar notice in the
<br />form required by law, which shall be duly filed for record by Trustee.
<br />(a) After the lapse of such time as may be required by law following the recordation of Notice
<br />of Default, and Notice of Default and Notice of Sale having been given as required by law,
<br />Trustee, without demand on Trustor, shall sell the Property in one or more parcels and in
<br />such order as Trustee may determine on the date and at the time and place designated in said
<br />Notice of Sale, at public auction to the highest bidder, the purchase price payable in cash in
<br />lawful money of the United States at the time of sale. The person conducting the sale may,
<br />for any cause he or site deems expedient, postpone the sale from time to time until it shall
<br />be completed and, in every such case, notice of postponement shall be given by public decla-
<br />ration thereof by such person at the time and place last appointed for the sale; provided, if
<br />the sale is postponed for longer than one (1) day beyond the day designated in the Notice of
<br />Sale, notice thereof shall be given in the same manner as the original Notice of Sale. Trustee
<br />shall execute and deliver to the purchaser its Deed conveying the Property so sold, but
<br />without any covenant or warranty, express, or implied. The recitals in the Deed of any
<br />matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including
<br />without limitation Beneficiary or Trustee, may purchase at the sale.
<br />(b) When Trustee sells pursuant to the powers herein, Trustee shall apply the proceeds of the
<br />sale to payment of the costs and expenses of exercising the power of sale and of the sale,
<br />including, without limitation, the payment of Trustees Fees incurred, which Trustees Fees
<br />shall not in the aggregate exceed the sum of Five Hundred and No!100 ($500,00) plus 1!2
<br />of 1% of the amount secured hereby and remaining unpaid and then to the sterns set forth
<br />in subparagraph (c) hereof in the order therein stated.
<br />(c) After paying the items specified in subparagraph (b), of the sale is by Trustee, or the proper
<br />court and other costs of foreclosure and sale if the sale is pursuant to judicial foreclosure,
<br />the proceeds of sale shall be applied in the order stated below to the payment of:
<br />(1) Cost of any evidence of title procured in connection with such sale and of any reve-
<br />nue required to be paid;
<br />f2) All sums then secured hereby;
<br />(3) The remainder, if any, to the person legally entitled thereto.
<br />13. Additiorai Sewritv Instruments. Trustor, ac its expense. will execute and deliver to the Beneficiary,
<br />promptly upon demand, such security instruments as may be required by Beneficiary, in form and substance satis-
<br />factory to Beneficiary, covering any of the Property conveyed by this Trust Deed, which security instruments
<br />shall be additional security for Trustor's faithful performance of all of the terms, covenants and conditions of this
<br />Trust Deed, the promiMry notes secured hereby, and any other security instruments executed in connection with
<br />this transaction. Such instruments shall be recorded or filed at Trustor's expense,
<br />Rev. 7!$4 Ilaw 4 od, p;
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