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85- 005s�8
<br />is sold, transferred or further encumbered wit *unit the express or written consent of Beneficiary,
<br />Beneficiary may, at its sole option, declare all sums secured by this !feed of Irust to be immediately due and payable and proceed to the remedies available to it under the default provisions contained
<br />herein.
<br />11. Events of Default. Any of the following events shall be deemed an event of default hereunder:
<br />(a) Truster shall have failed to make payment of any installment of interest,
<br />principal or principal. and interest or anv 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) Truster shall file a voluntary petition 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 ene«mbradce or judg-
<br />ments against the property is commenced.
<br />12. Acceleration Upon Default. In the event of any default, Beneficiary may declare all indebtedness
<br />secured hereby to be due and payable, and the same .shall thereupon t,ernme due and payable without any
<br />presentment• demand, protest or notice of am• kind. Thereafter, Beneficiary may:
<br />(a) either in person or by agent, with or without !,ringing any action or pro-
<br />ceeding, or by receiver appointed by a court and without re and to the adequacy of
<br />any security, enter upon and take possession of the property, or an•r part thereof,
<br />In its own name or in the name of the Trustee, and do any acrs which It deems necessary
<br />and desirable to preserve the value, marketabilit,; or rentan'tlity of the property, or
<br />part thereof of interest therein, increase the income therefrom or protect the security
<br />hereof anal, without taking possession of the property, sue for or otherwise collect the
<br />rents, Issues and profits thereof, including; those past due and unpaid, and apply the
<br />-same, less costs and expenses of operation and rollection, incie:ding 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 loll -,tten of such rents,
<br />Issues and profits and application thereof as iforesnld shall milt cure or waive any de-
<br />faLelt or notice of default hereunder or Invalidate any aict and in response to such de-
<br />fault or pursuant to such notice of default and, notwithstanding the conit.nuance in
<br />possession of the property or the collection• receipt and anplicarf %m of rents, issues
<br />ur
<br />profits, Trustee or Beneficiary may be entitled to exercise ever: right provided for
<br />in any of the loan instruments ur b%, ]aw upon Foci- urrence of :arc event :,f default, in-
<br />cluding the right to exercise the power of sale;
<br />(b) commence an action to foreclose this Lined if 1-rust is a mortgage, appoint
<br />a receiver, or specifically enforce .uiv of the covenants i;ereof;
<br />I'.) „elivcr In lr'istee a written deciarat. ion of default and demand for sale,
<br />and a written notice of default and election to --au— :rust.orls interest in the property
<br />to t•e sold, which notice I7 ustee shall caust to be duly ffled for record do the official
<br />records of the county in which the property is located.
<br />1;. For c.l oourt by Power of Sale. should Henn Lciary elect to forcc!.jse i exercise of the power
<br />;ale here r,nntaUird, Beneftcfare shall nortf•; rrustee and shall depo•at with '7usree this Deed of
<br />: -Tint and u,c note and such reie!pts and evidence if e•rpeuditure,, made and ! ;eireti hereby as Trustee
<br />may require, and upon request thtr I1,uneldcl,irv, the IruIate•e ::ha]I file ,:;r record, 1;: the Register
<br />of Nreda office in t'ne Comity :Mere the propert'il it. lost , a notice of default, setting_, forth the
<br />name of the Trustor, The dock 'find P.Iglt fT Dociune of
<br />nr :o. thJ'. Deed of ?rust as recorded in sald .,
<br />the legal de•seription of the •shove- d...erfl >Td real estate and that a breach
<br />an oblie.tim, for trlich said real estate was rotrve""d 'es : ;e.ur!t!., lint occurred, and netting farth
<br />nature of such !.reach anti the Trustee's election t, .oil the real catate to ;atisfy the obligation;
<br />anal a`ter .''c lapsr ,.: nor less than one (1) month, ti:.- 1rust•e ;'•ail rfve tritten notice of the time
<br />aItd f.lace o1 .aL- w ^lr is [nay lick between u:0+) a.m. rind i � .m• .1: troy premt ;es, or at the Courthouse In
<br />the Cotmtvwheretn 4luch property 1-s lac.ate,d, debcrlbin,, the property fo be sold by its legal descrip-
<br />tion, ca Id notl�v I ne published In a newspaper of gcnvrnl •Irrulatten in the County wherein surh
<br />property it. located, once :, week for five f5) c-msr.ut J.e weeks, the last puhlicxtion to be at least
<br />yen (fir) days, but !:,it more then t]a rty (lb) days, prior to the sale; end ttie Trustee shall then sell
<br />=laid propert.q at the time and place dell „hated Ili, file notice, in the m..nne•r provided he law In effect
<br />ITT the time <. ftlin,; scald notice, at public nuct ion to the Irigi[est bidder for cash and shall deliver
<br />to such purtnaser a deed to the property sold. Ionslstent with the law in effect at the time.
<br />Upon rccelpt of tLe price t,dd, Trustee shall deliver to the purchase, Trustee's deed e•onveying the
<br />property old. Fc !tals fit the Trustee's dot•d : ;i :ail be prlma facie vvldenrr of the truth of the state-
<br />ments made therein. Trustee shall apply the proceeds of thy= sale In the following order: (a) to all
<br />reasonable coat., and erpenses of the sale, including, but not limited to, frustee'., fees of not more
<br />:.i:an _ „ -3, q:: of the t;rer.a sale price, reasonable attorney fees and rotas of title•evidenre; (b) to all
<br />sums secured by this Deed of Trust; and (c) the excess, If ar•, to the person it persons legally en-
<br />t.itled thereto. perpon, lncluddnct Renrflclary, tray purcl"t— ruid property at <aid sale.
<br />.he r_•etevn :'ondu, tfni; the •:ale mat,, for anv cause Ire or -he deems expedient, povtponr the gale from
<br />time to time until it •thrall he cnmp]eted any], In cv.'•ry :ouch sae, notl.e• ,.t J�o,rponcment <.hall be elver
<br />by ,;uhiio declaration thereof ,,. ,uch per-ion it The rlmw atui Pi,rcu l:u.t app,.tnted for the tin le; pro -
<br />v4sed, ff tl.e -alt, 1v ;u,nrtpeme-d•for longor than one tU clay beyond the date desde ;nated in the notice of
<br />-laic, nc,tice thereof ❑hall be swear III the same manner as the original nottro of !,Ale.
<br />14. F.eretie. Not Pxcl us; tv. -,. Trims et and Henef lc. to ry, .md each of t!a•m, «ha]1 he entlt I.A to rn-
<br />ft•tce pa•ement and per rrmanre f anv lndebtednt•iS or ohitylat.ion secured nettbc and to .. xerrdse all right,
<br />and paaere under this Need of brunt or under nn': ]ruin ln. +ttutxnt or other egreement or anv laws now or
<br />hareaftrr tteforcrd, not wit!tatandlny shin or nil of the indebtedness and ollill:arfons : „•cured hereby
<br />wfrirh may no or i.ereaf t, -r - nc�rv{ :. �..oui ce„ ..et) r .., .I rent.,'. .,,d in,•.i ole,i, ;. its n, a :�
<br />ment ar offierwle.,•. ,,,ttfv.•r IN' accept lnCe of thin. Deed of Trnnr. not It.: , .u•ther' Fy <nut't•
<br />.ua lort or pursuant to the :over of ankle or ether bowery herein � ry nit,•d, �eh :'r; •rej u'.11ce or In any
<br />manner affect ;reutree'm or i'ene•f l c i a r c ' t , right t o r e a l i z e ,rpou or —ii-r— ,anv r hrr . , _ , u r l t y now rr bere-
<br />aittir hrkt btu T r u s t e e yr Ba•ref l c l a f _ .r b, ^Inn a,;recd that l ru :,t ,,,, uhf c�: ;i.•f 1 , 1 l7v. .vn l each• of t hem,
<br />shall lie and itled t v eaftrti thin !Y,,v,d �.•f Trt,r.I ,inef an, „tint niriI r ,er,• =!itct .'rid Lc the hene-
<br />Q „ flat” r,r ru..t. -• tr a ,• etiler ,rnd manner ,+i r levy, -r it lief f !ir•a , to Ih. it al..l.te it, li tlon
<br />Ldel rmfne, rnRt ly r� n>!n �n,axr Apo,, r r —a—ed t , Iru.l t, i
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