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85- 005120
<br />07731
<br />Property, to secure the payment of any rent or damages, and upon default in
<br />the performance of any of the provisions hereof, Trustor agrees to deliver
<br />such rents and deposits to Beneficiary. Delivery of written notice of
<br />Beneficiary's exercise of the rights granted by this paragraph THIRD to any
<br />tenant occupying the Property or any portion thereof shall be sufficient to
<br />require said tenant to pay said rent to Beneficiary until further notice.
<br />FOURTH: If there shall be filed by or against the Trustor any peti-
<br />tion or proceeding seeking an arrangement or composition or extension or
<br />any other relief under or pursuant to the Federal Bankruptcy Code or any
<br />other similar statute as now or hereafter in effect, or if the Trustor
<br />shall be adjudicated bankrupt or insolvent or any of Trustor's property
<br />shall have been sequestered and such decree shall have continued undis-
<br />charged and unstayed for 90 days after the entry thereof., then the whole of
<br />the Note and indebtedness hereby secured shall., without notice, at the
<br />option of the Beneficiary, become due and payable.
<br />FIFTH: Upon default by Trustor in the payment of or performance of
<br />the terms and conditions of the Note, or any renewals, modifications or
<br />executions thereof, the payment of any other indebtedness secured hereby or
<br />in the performance of any agreement, covenant or warranty herein contained
<br />or set forth in any agreement or instrument executed by Trustor in con-
<br />nection with the indebtedness hereby secured, Beneficiary may declare all
<br />sums secured hereby immediately due and payable and the same shall there-
<br />upon become due and payable without presentment, demand, protest or notice
<br />of anv kind. Thereafter, Beneficiary may deliver to Trustee a written
<br />declaration of default and demand for sale. Trustee shall have the power
<br />of sale of the Property and if Beneficiary decides the Property is to be
<br />sold, it shall deposit with Trustee this Deed of Trust and the rote or
<br />notes and any other documents evidencing expenditures secured hereby, and
<br />shall deliver to Trustee a written notice of default and election to cause
<br />the Property to be sold, and Trustee, in turn, shall prepare a similar
<br />notice in the form required by law, which shall be duly filed for recd -d by
<br />Trustee.
<br />(a) After the lapse of such time as may be required by law following
<br />the recordation of Notice of Default, and notice of Default and Notice
<br />of Sale having been given as required by law, Trustee, without demand
<br />on Trustor, shall sell the Property hereinbefore described, and any
<br />and every part thereof, in separate parcels or en :Hasse as the Trustee
<br />may elect and in such order as Trustee may determine on the date and
<br />at the time and place designated in said Notice of Sale, at public
<br />auction to the highest bidder, the purchase price payable in cash in
<br />lawful money of the Untied States at the time of sale. The person
<br />conducting the sale may, for any cause he or she deems expedient,
<br />postpone the sale from time to time until it shall be completed and,
<br />in every such case, notice of postponement shall be given by public
<br />declaration thereof by such person at the time and place last appointed
<br />for the sale; provided, if the sale is postponed for longer than one
<br />(1) day beyond the day designated in the Notice of Sale, notice
<br />thereof shall be given in the same mariner as the original 'Notice of
<br />sale. Trustee shall execute and deliver to the purchaser its, Deed
<br />conveying the property so sold, but without any covenant or warranty,
<br />express or implied. The recitals in the teed of any matt.(.-rs or :acts
<br />shall be conclusive proof of the truthfulness ther0o'l. Any person.,
<br />including without limitation, Beneficiary or Trustee may at
<br />the sale. Said sale• shall be cc >nducted the rcrrl estate formin, .t
<br />part of the Property or at the court house in tha• county in h
<br />which te
<br />Property to be sold, or some part thereof, is situated.
<br />(b) Whe., Trustee sic,!, Is pursuant to the powcrs herein, 'i rut =tee steal. i
<br />apply the prcxe>eds r. >f the sale to payment of tile costs rci c. ;f:in. >es C >;
<br />L c.�r.czcisiny thc. powc,r of .,ale and of thrr inciuc n(,, without
<br />payment. limitation, the payment. of Trustee, f"009 incurred, which rn�rc_c'
<br />f-c -s shall lu,t. in the ;ac ;grcgat�• .. :creel the Sum r�i I'i•:�c• ilun�irr�i ,anci
<br />r�s> /It�r�tl . -, Uerl l .trs 1t `,nn.001 lu :.f
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