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<br />83-ULJ6756
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<br />the loon i.nstrnments or by law nDon ococur-
<br />rence of any event of default, including the
<br />right to exercise the power of sale;
<br />
<br />(h)
<br />this Deed
<br />receiver,
<br />covenants
<br />
<br />commence an action to foreclose
<br />of Trust as a mortqaqe, appoint a
<br />or specifically enforce any of the
<br />hereof;
<br />
<br />(0) deliver to Trustee a written
<br />declaration of default and demand for sale,
<br />and a written notice of default and election
<br />to cause Trustor's interest in the prooerty
<br />to be sold, which notice Trustee shall cause
<br />to be duly filed for recor~ in the official
<br />records of the county in which the property
<br />is locateo.
<br />
<br />12. Foreclosun, by Power of Sa'.0. Should Beneficiary elect
<br />to foreclose by exercise of the power of sale herein contained,
<br />Beneficiary shill] notify Trustee and shaU deposit with Trustee
<br />this Deed of Trust and the note ano such receipts and evidence of
<br />expenditures made a~d secured herehv as Trustee may require, and
<br />upon' request cf the BeneE iciarv, the ",rustee shall file for
<br />record, in the County where the property is located, a notice of
<br />default, setting forth the nAme of the Trustor, the Book and Page
<br />or Document No. 0" t.hi s Deed of Trust as recorded in the County,
<br />the leaal description of the above-described real estate Rnd that
<br />a brea~h of an obliqation, for which saiJ real estate was conveyed
<br />as secur~c.v, has occurrer1, and settinq forth the nature of such
<br />breach and" the Trustee's elLetion to sell the rei'll estate to
<br />satis~y the obligation and ~hall mail copieB of such notice i-~
<br />the manner prescrihed hv applicable law to ~rustor and to such
<br />other persc~s prescribed hv applicahle law, After the lapse of
<br />such time as P12Y be required bv applic(lh1~ law, th(~ rrrustee shall
<br />give vlritten notice of the time i1nr1 place of' sale to the persons
<br />and in the manner prescribed by "pol icnnlc ] aw, describing the
<br />property to be sold hy its legal descri.ption, sai~ notice also to
<br />be published in a newsp~per o~ general circulation in the County
<br />wherein su~h property is 1.0catedr nt ~hp time~ anct in the fRshion
<br />required bv ,cpnlicahle li)'<:; and the, mrustC'C' shdll then sell said
<br />propertv at the ti~e and place dC'signnted in t~he notice, in the
<br />ma,nner providp.d by law in e[<'ert at ~.h", '.ime of filing said
<br />notice, at public auction to the highest hidder for cash and
<br />shall deliver to such purchas~r ~ deer1 to the property sold,
<br />consistent with +-he law' in effect at the time.
<br />
<br />Upon receipt of payment c'f thp price bid, 'rr\lstee shall
<br />deliver to the purchaser, Trustee's dee'] c:onvevinfj the property
<br />sold. Recitals in the Truste~'~ deed shall be prima facia evi-
<br />dence of the truth oE the statements made therein. Trustee shall
<br />apply the proceeds of the sale in the foJ Jowin'] order: (al to
<br />all reasonable costs and expenses of the sale, inclu<'ling but not
<br />limited to, Trustee's fees of not nore than __3--% ()f the 'lross
<br />sale price, rei'lsonable attorney fees and costs ()f title evi<'lence;
<br />Ihl to all sums secured bv this Deed of 'Prust; and fc) the
<br />excess, if any, to the person or persons legally entitled thereto.
<br />Anv person, including Beneficiary, may purchase said property at
<br />said sale.
<br />
<br />'rhe person conductinq the sale may, for nnv cause he or she
<br />deems E'xpedient, postpone the '"ale from time to time until it
<br />shnll be completed and, j n every such case, notice of postpone-
<br />ment shall be given by public- deeli'!rat.inn thereat by such person
<br />at the time and place last appoint.ed for th" sole; provided, if
<br />the sale is po'ltponed for longer than one (1) d,'\y heyond the date
<br />dftsignated in the noticD of sale, notice thereof shall be given
<br />i.n the sC\me m~~nn{~r as the orig.inal notjcf-" of sale.
<br />
<br />l)~ Rem~di(~s Not ExcJusive.. Trllst.t'.~C ,:U1f1 Benefiel,ary, Rtid
<br />'''ilch of th;"m, sh,,!Th~;;ti ti'f.ld-to el, ,'()r,~,~ paY[l\('nt: and per for-mance
<br />()tl llnv indebtedness OJ;' nhli.qrttjf)f1 <;:,;ecurt~d her(<h\' .,nd to pxercisc
<br />all r19h-te ,'H~d powern under thiB Deed of Tr\lst nJ: under eHtV :nan
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