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5-~ 004376
<br />a sold, transferred or further encumbered without thee express or written consent of Beneficiary,
<br />Beneficiary may, at its sole option, declare all sums secured by this Deed of Trust to be immediately
<br />due and payable and proceed to tine remedies available to It under the default provisions contained
<br />herein. ti i'
<br />11. gents 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 any 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 under any term, covenant,
<br />agreement, condition, provision, representation or warranty contained in this Deed
<br />of Trust, the note or any other 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 per it ton in bankruptcy or shall be adjudi-
<br />cated bankrupt or insolvent, or shall make an assignment for the benefit of creditors
<br />In respect to the property; or an action to enforce any lien or encumbrance or judg-
<br />ments against the property is commenced.
<br />12. Acceleration U on Default. In the event of any default, Beneficiary may declare all indebtedness
<br />secured hereby to he 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 possession of the property, or any part thereof,
<br />in its own name or in the name of the Trustee, and do any acts which it deems necessary
<br />and desirable ;o preserve 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, without taking possession of the property, sue for or otherwise collect the
<br />rents, issues and profits thereof, including tlxtse past due and unpaid, and apply the
<br />same, less costs and expenses of operation and collection, Including attorney fees, upon
<br />any indebtedness secured hereby, all in such order as Beneficiary may determine. The
<br />entering upon and taking possession of the trust estate, the collection of such rents,
<br />issues and profits and application thereof as aforesaid shall not cure or waive anv de-
<br />fault or notice of default hereunder or Invalidate any act and in response to such de-
<br />fault or pursuant to such notice of default and, notwithstanding the continuance in
<br />possession of the property or the collection, receipt and application of rents, issues
<br />or profits. Trustee or Beneficiary may be entitled to exercise every right provided for
<br />In any of the loan instruments or by law upon occurrence „f any event of default, in-
<br />cluding the right to exercise the power of sale;
<br />(b) cormience an action to foreclose this Deed of 'Trust as a zortgage, appoint
<br />a receiver, or specifically enforce any of the covenants i,ereoE;
<br />(c deliver to frust"e a trritten declaratlon of default and demand for sale,
<br />and a written notice if default and election to :,;use Irustor's interest 17, the property
<br />to be Hold, which notice I'rustee shall . cause to be duly filed for r. *cer,.! In the official
<br />records of the county in which the property is located.
<br />13. For re by Power of Sale. Should Beneficiary elect to foreclose by exercise of ttte power
<br />,,f sale herein contained, Beneficiary siutll notify Trustee and shall deposit with Trustee this Deed of
<br />trit and the note and such receipts and evidence of oxpenditures made and tiervred hereb, as Trustee
<br />may require, and upon request of the Beneficiary, the i'rnHtee siutll isle for r_•rrm(!, in itte Reittster
<br />of D"(is offtcc I1.. Cite County wiuVrc the pruperty is located, a potio.c• of default, r,ettIng fortis the
<br />name of the Trustor, tine hook and Page or Document No. of this Decd of Trust as recorded in said
<br />Register of Deeds office, the legal descHlItloll ..,f the ahuve- described real estate and that a breach
<br />an obligation, for which said real estat" wn% ,ouvevcd as �:ecnrit:•, r:as r. ::'.erred, and setting forth
<br />the nature: of .�w:h breach and the 'I'ruster's le <ti,,n t,• • ;e!1 ti:e real estate• to satisfv the obligation;
<br />and after the lapse I,f not lest: than une (1) month, the '.rustee shall ,,.iv.• written notiro of t3:e time
<br /><md place• of sale which may he between 4:00 ;,.m, and , p.m. nt the ;•remise,;, .;r It Lire Courthouse in
<br />tit, Count': whrerell) Stich property is located, ii•!;cribin ^, the pruperty to he sold `r: its legal descrip-
<br />tion, said notice to be puhliAt -I In a n(:wspaper it v,ene•ral cfrrulat l !n rie., ]:panty wt,eretn "urh
<br />property is located, once a week for five (i) consecutive wcekr:, thv last publlration to he at least
<br />ten ,'1)) cleyw, bill not more than thirty (30) day-,. ;-ri „r t„ 0,, ;ate; :end t'',c !rust -ve ahall theft sell
<br />14111 Prnp,•rty at the time and place desli;nat•_d In Ili,- In rh,• manner provided l,v law in effort
<br />at t',e tin»r of ftline raid uotLce, at public auction lu tit,, ! _ 1st bidder for cabs, and shall deliver
<br />t(a suc:h purchaser a ,.feed t” the property !,old, ,..o:n,-:1`a,.rn(. wItlt -he law it, eLfe,(. at t),e time.
<br />Ueon re: p( o the pre" 1,:1d, rrw,tee !tail to t:,, , "rustee's ,ee,l "c'nveving the
<br />propert'i rold.
<br />Recltalf+ in the ';ruste•e'r; d"ed r.i.,w , Prir.;n fn, le evidence nt tiw tnitlr of Lute '.tate-
<br />mer,ts made therein. I'rust:ee sltall apply the pro,:eed,, of the .ale 1-1 ilea• following ,xdrr: el to all
<br />rrswonable curets ruld expense,, of the pale, iilCludlnj: but not limited I.o, Tru -ace's Feet, of n,tt more
<br />gram of Che grti,Hra vale prrir_e, rvasonahle attorney lee'; .end rndC's of title evidence; (b) to .111
<br />WIlE"'. ser •ured by thlel Deed (,I 'lroit; and ("), the ,i' %t' "k},, It ally, t„ tie,.: pIr-in , +r pc'tsons legal]•_: "n-
<br />titled t?rretr,. An;' per —ii, lncludlnF Fl- leflrlarv, nv {,,:rc!rc•e said prn;,rrt: _et -aid '.ale.
<br />The perwnn ' "cidu,ting the ,,ale ma". flit' nn•: _auHe hr n1. sin• :fuemc: expc,llent. , ,ttprme I)iv „pie from
<br />tfmc to f.fmn• until It ';stall be' cnm;,let ed aud, In rVers suet; rare, notlre ,,( p,,,t pnnemrn[ '.11.01 'I,c ,•iv..at
<br />b': puhl{c ,leclaratl„n rhercnt by ;,,wh person at the +Inx` an,t lieu l,e,i lilt 'd 1.„r !l;e
<br />vlied, it t'rai •;(,le 1w ; +vs ;t putted fur lun,,er than line (i) day b- -nd flu• date designated to tip` nutlet ui
<br />wwle, notice, te..ere(if shall h,` gltrun in the wane manner aw the „riginal notice of sale.
<br />l4. Rented(,,% Not Vx, -i i,lve. IrIv.tIv and li ell eftcfnrv, ;uld each ,1.i 11wal. r +hall be entitled to ett..
<br />t <rrcr Vd,;Ment and pa'r(<rh(antt of anY in(lebf ednvss or ot'ligatloa vecure,j and to exercise all right;,
<br />,end j" were u11der deli bred of Irti.t ut Iauler anv I, +an Inn" rnax•n, nr „tbrr agreement. ,r any laws now "r
<br />ittrrmf err rnfarred, ❑n(wit!i Ht and Gn u 'tome.' or a!1 of t. iu• Indr},["dT.I` , :md "Ill i,bet t,mn vecuLe•d hereby
<br />'1.'r ic.., rs.ay n:,., ,r !:e r,'d fl e,I I,,. tII,'r'we ..1.¢Y, I, .... r r I" . It. -d „f ren'.r I1.
<br />mcItt or of it „rwlae'. `;e(Ou'r Iltt 4,1. *,t!ptills r .,I I h I I).•ed IIit I ,(„1 I1.. rIt t „1.,'e` t. n`h ".
<br />ocIItal or puma <a)t to the I•nwet ., 'r ell" nr nth „r power ,+ herein r „u1. ulr`d. ::hall i,re!ud t,'c , +t in ;111 '1
<br />tMfIner affect Truvtecrw nr heni.,ik, , i riV,ht r„ reaiix,• upon or .`n!�•IC, ,an; cube] -rnrtn uuw •,r 111.1
<br />after Iwld by iru,tea' 1.•r kene,Flclarv, It 1 -11t:: ,<g:"ed !!,,,r 7r'a.,t,e -,u.! ,",,,.1.f, l;,r•r. „ud oath „f Ilion, ,
<br />hall he e n t I t I V1 I, "r i f i r t r t Ili it J.. i i ! I"I' t ov, ail, I !),-I i .1' 1-T.- f l, r h'. 1.1 1 N").
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