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<br />I <br /> <br />84 - 002973 <br /> <br />withstanding the continuance in possession of <br />the property or the collection, receipt and <br />application of rents, issues or profits, <br />Trustee or Beneficiary may be entitled to <br />exercise every right provided for in any of <br />the loan instruments or by law upon occur- <br />rence of any event of default, including the <br />right to exercise the power of sale; <br /> <br />(hI <br />this Deed <br />receiver, <br />covenants <br /> <br />commence an action to foreclose <br />of Trust as a mortgaqe, appoint ,a <br />or specifically enforce any of the <br />hereof; <br /> <br />(cl deliver to Trustee a written <br />declaration of default ilnd demand for sale, <br />and a written notice of default and election <br />to cause Trustor's interest in the property <br />to be sold, Which notice Trustee shall cause <br />to be duly filed for record in the official <br />records of the county in which the property <br />is located. <br /> <br />13. foreclosure by Power of Sale. Should Beneficiary elect <br />to foreclose by exercise of the power of sale herein contained,' <br />Beneficiary shall l'otify Trustee and shall deposit with Trustee <br />this Deed of Trust "nd the note and such receipts and evidence of <br />expenditures made and secured hereby as Trustee may require, and <br />upon request of the Benef ieiar)', the Trustee sha 11 file fOr <br />record, in the Register of Deeds office in the County where the <br />property is located, a notice of detault, setting forth the name <br />of the Trustor l the Book and Paqe or Document No. of this De-e-d of <br />Trust as recorded in said RC<lister of Deeds office, the legal <br />description of the above-described real estate and that a breach <br />of an obligation, for which said real estate was conveyed as <br />security, has occurpld, and setting forth the nature of sucli <br />hreAch and the Trustee f s election to' sell the real estat_0 to <br />satiSfy the obliqation; and after the lapse of not less th1!on one <br />llJ month, the Trustee shall give written notice of the time and <br />place of sale which IT'oay be between 9:00 ,'l.m. and 5 p.m. at the <br />premises, or at the Courthouse in the County wherein such property <br />is located, describinq the property to be sold by its legal <br />description, said notice to be publi::>hed in a new!:lpaper of <br />general circulation in the County wherein such property is <br />located, once a ....eek for five (5) consecutive weeks, the last <br />publication to be at least ten (lO) days, but not mOrc than <br />thirty (301 days, prior to the sale: and the Trustee shall then <br />sell said property at the time and place designated in the <br />notice, in the manner provided by law in effect' at the time of <br />filing said notice, at public auction to the highest bidder for <br />cash and shall deliver to such purchaser a deed to the property <br />sold, consistent with the law in effect at the time, <br /> <br />Upon receipt of payment of the price bid, Trustee shall <br />deliver to the purchaser, Trustee's deed conveying the property <br />sold. Recitals in the Trustee's deed shall be prima facie evi- <br />dence of the truth of the statements made therein. Trustee shall <br />apply the proceeds of the sale in the following order: (a) to <br />all reasonable costs and expenses of the sale, including but not <br />limited to, Trustee's fees of not more than 3.0 % of the gross <br />sale price, reasonable attorney fees and costs of title evidence; <br />(b) to all sums secured by this Deed of Trust; and (e) the <br />excess, if any, to th~' person or persons legally entitled tbet'E!to. <br />Any person, including Beneficiary, may purchase said property at <br />Hid sale. <br /> <br />The person conducting the sale may, for any cause he or "he <br />de_s exped1 E!nt, postpone the sale from t1me to time until it <br />shall be completed and. in every such case, not ice of postpone- <br />ment: aJulll be 'Jiven by public declaration then-ot by such person <br />4.t the. tilOO and place last appointe.d for the sale; prOVided, If <br />the lI..le is postponed for lonqe-r than one (1) dlly beyond the date <br /> <br />-4- <br /> <br />