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r 83- 006496 foreclosure, the proceeds of sale shall be applied in the order stated to the payment of: (a) Cost of any evidence of title procured in connection with such sale and of any tax on the conveyance; (b) All sums then secured hereby; (c) The remainder, if any, to the person or persons legally entitled thereto. D. Upon the occurrence of any default hereunder, BENEFICIARY shall have the option to foreclose this Trust Deed in the manner provided by law for the foreclosure of mortgages on real property. E. BENEFICIARY may from time to time substitute a successor or successors to any TRUSTEE named herein or acting hereunder. Upon such appointment, and without conveyance to the successor TRUSTEE, the latter shall be vested with all title, powers, and duties conferred upon any TRUSTEE herein named or dcting hereunder. Each such appointment and substitutIon shall be made by wri tten instrument and executed by BENEFICIARY, containing reference to this Trust Deed and Its place of record, which, "hen recorded 1n the office of the Hegister' of Deeds of the county or countIes In which said property is situated, shall be conclusive proof of proper appointment of the successor TRUSTEE. The foregoing power' Df substi tution and the pro- cedure therefor shall not be exclusive of the power and procedure provided for by law for the substItution of C1 TRUSTEE In the place of the TRUSTEE named he r'el n , TRUSTORS covenant and agree that upon dny <:on- veyancet assignment or transfer of his interest in the premIses during the t:er'rn of the loan secured hen'by, the BENEFICIARY shall have t.he option of declarlng the unpaid balance immedi.ately due and payable, and If said sum cemains unpaid for fifteen days thereafter, BENEFICIARY can cause Notice of Default to be given and the premises be sold as provi ded h{~r~ei n. G. As additional and collateral security for the loan and effective forthwith upon filing of a Notice of Default. this instrument shall serve as an assignment by the TRUSTORS to the TRUSTEE, of all rents and revenues resulting from the pro- perty. and TRUSTEE is authorized to take possession of the property, rent aI' lease the same on terms he deems best and to collect the rents and revenues and apply the same upon lmpaid Interest, principal, taxes or insurance premiums or for maintenance <lnd preser'vation of the premises. H. The wai 'Jer by TRUSTEE or BENEF ICIARY of any defaul t of TRUSTORS tmder this Trust. Deed shall not be Or be deemed to be a wa1vel" of any ot.her' 01' sim11<lr defaults SUbsequently occurring.