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89" 000867
<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 />default and election to cause Trustor's interest in the
<br />property to be sold, which notice Trustee shall cause
<br />to be duly filed for record in the official records of
<br />the county in which the property is located.
<br />14. Foreclosure by Power of Sale. Should Beneficiary elect
<br />to foreclose by exercise of the power of sale herein contained,
<br />Beneficiary shall notify Trustee and shall deposit with Trustee
<br />this Deed of Trust and the note and such receipts and evidence of
<br />expenditures made and secured hereby as Trustee may require, and
<br />upon request of the Beneficiary, the Trustee shall file for
<br />record, in the Register of Deeds office in the County where the
<br />property is located, a notice of default, setting forth the name
<br />of the Trustor, the Book and Page or Document No. of this Deed of
<br />Trust as recorded in said Register of Deeds office, the legal
<br />description of the above - described real estate and that a breach
<br />of an obligation, for which said real estate was conveyed as
<br />security, has occurred, and setting forth the ,nature of such
<br />breach and the Trustee's election to sell the real estate to
<br />satisfy the obligation; and after the lapse of not less than one
<br />(1) month, the Trustee shall give written notice of the time and
<br />place of sale which may be between 9:00 a.m. and 5 p.mo at the
<br />premises, or at the Courthouse in the County wherein such
<br />property is located, describing the property to be sold by its
<br />legal description, said notice to be published in a newspaper of
<br />general circulation in the County wherein such property is
<br />located, once a week for five (5) consecutive weeks, the last
<br />publication to be at least ten (10) days, but not more than
<br />thirty (30) days, prior to the sale; and the Trustee shall then
<br />sell said property at the time and place designated in the
<br />notice, in the manner provided by law in effect at the time of
<br />filing said notice, at public auction to the highest bidder for
<br />cash and shall deliver to such purchaser a deed to the property
<br />sold, consistent with the law in effect at the time.
<br />upon receipt of payment of the price bid, Trustee shall
<br />deliver to the purchaser, Trustee's deed conveying the property
<br />sold. Recitals in the Trustee's deed shall be prima facie evi-
<br />dence of the truth of the statements made therein. Trustee shall
<br />apply the proceeds of the sale in the following order: (a) to
<br />all reasonable costs and expenses of the sale, including but not
<br />limited to, Trustee's fees of not more than 1.5% of the gross
<br />sale price, reasonable attorney fees and costs of title evidence;
<br />(b) to all sums secured by this Deed of Trust; and (c) the
<br />excess, if any, to the person or persons legally entitled there-
<br />to. Any person, including Beneficiary, may purchase said property
<br />at said sale.
<br />The person conducting the sale may, for any cause he or she
<br />deems expedient, postpone the sale from time to time until it
<br />shall be completed and, in every such case, notice of postpone-
<br />ment shall be given by public declaration thereof by such person
<br />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 date
<br />designated in the notice of sale, notice thereof shall be given
<br />in the same manner as the original notice of sale.
<br />1.5. Remedies Not Exclusive. Trustee and noneficiary, and
<br />each of t em, s a e aunt t ed to enforce payment and
<br />performance of any indebtedness or obligation secured hereby and
<br />to exercise all rights and powers under this flexed of Trust or
<br />under any loan instrument or other agreement or any laws now or
<br />hereafter enforced, notwithstanding some or all. of tile indebted-
<br />ness and obligations secured hereby which may now or herraaftor be
<br />ntherwiee secured, whether by mortgage, dead of trust., pledge,
<br />1 ion, ass.i?;nment oi, otherwi!ae. Neither tho earrePtance of this
<br />Deed of `!'rust near i.ts onforreme.nt, whether I)v ours Action or
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