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85-• 000867
<br />and Beneficiary shall apply such compensation, at its option,
<br />either to a reduction of the indebtedness secured hereby or to
<br />repair and restore the property so taken.
<br />11. Performance by Beneficiary. Beneficiary may, but shall
<br />have no obligation to, do any act which Trustor has agreed but
<br />failed to do, and Beneficiary may also do any act it deems
<br />necessary to protect the lien hereof. Trustor agrees to repay,
<br />upon demand, any sums so expended by Beneficiary for the above
<br />purposes, and any sum so expended by Beneficiary shall be added
<br />to the indebtedness secured hereby and become secured by the lien
<br />hereof. Beneficiary shall not incur any personal liability
<br />because of anything it may do or omit to do hereunder.
<br />12. Events of Default. Any of the following events shall
<br />be deemed an event of e ault hereunder:
<br />(a) Trustor 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) Trustor has sold, transferred, assigned or
<br />leased all or any part of the property or the Trustor's
<br />interest therein without complying with the requirements
<br />as provided hereinabove at Paragraph 9;
<br />(c) 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 or Trustor's Note secured hereby;
<br />(d) There has been a default by the Trustor 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 />(e) Trustor shall file a voluntary, petition in
<br />bankruptcy or shall be adjudicated bankrupt or
<br />insolvent, or shall make an assignment for the benefit
<br />of creditors in respect to the property; or an action
<br />to enforce any lien or encumbrance or judgments against
<br />the property is commenced.
<br />13. Acceleration Upon Default. In the event of any
<br />default, Beneficiary may ec are a 1 indebtedness secured hereby
<br />to be due and payable, and the same shall thereupon become due
<br />and payable without any presentment, demand, protest or notice of
<br />any kind. 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 their own names 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 any
<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, notwith.atandinq the continu-
<br />ance in possession of the property or the collection,
<br />receipt and Application of rents, issues or profits,
<br />Trustee or penef.iciary may be entitled to exercise
<br />every ritiht provided for in any of the loan instruments
<br />or by law won accurrenc:e of any event of cie3fail l t
<br />includine; the r: 'Lght to oxer(aisae the pr)wel of , ;jjle;
<br />
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