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I 84 ,......... 005 4 97 the loan instruments or by law upon occur- rence of any event of default, including the right to exercise the power or sale; (b) commence an action to foreclose of Trust as a mortqaqe~ aouoint a or specifically enforce any of the hereof; this Deed receiver, covenants (c) deliver to Trustee a written declaration of default and demand for sale, and a written notice of default and election to cause Trustor's interest in the property to be sold, which notice Trustee shall cause to be duly filed for record in the official records of the county in which the property is located. 12. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee this Deed of Trust and the note and such receipts and evidence of expenditures made and secured here!:-'v as Trustee may require., and upon request of the Benefici.ary ;__.e Trus'!":~e shall file for record, in the County where th€'~.L'nperty is located, a notice of default, setting forth the name of the Trustor, ~he Book and Page or Document No. of this Deed of Trust as recorded in the County, the legal description of the above-described real estate and that a breach of an obligation, for which said real estate was conveyed as security, has occurred, and setting forth the nature of such breach and the Trustee's election to sell the real estate to satisfy the obligation and shall mail copies of such notice in the manner prescribed by applicable law to Trustor and to such other persons prescribed by applicable law. After the lapse of such time as may be required by applicable law, the Trustee shall give written notice of the time and place of sale to the persons and in the manner prescribed by applicable law, describing the pro~~rty to be sold by its legal description, said notic~ also to be published in a newspaper of general circulation in the County wherein such property is located, at the times and in the fashion required by applicable law1 and the Trustee shall then sell said property at the time and place designated in the notice, in the manner provided by law in effect at the time of filinq said notice, at public auction to the hiqhest bidder for cash and shall deliver to such purChaser a deed to the property sold, consistent with the law in effect at the time. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser, Trustee's deed conveying the property sold. Recitals in the Trustee's deed shall be prima facia evi- dence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all reasonable costs and expenses of the sale, including but not limited to, Trustee's fees of not more than 3 % of the gross sale price, reasonable attorney fees and cost~title evidence, (b) to all sums secured by this Deed of Trust1 and (c) the excess, if any, to the person or persons legally entitled thereto. Any person, including Beneficiary, may purchase said property at said sale. The person conducting the sale may, for any cause he or she deems expedient, postpone the sale from time to time until it shall be completed and, in every such case, notice of postpone- ment shall be given by public declaration thereof by such person at the time and place last appointed for the sale, provided, if the sale is postponed for longer than one (11 day beyond the date designated in the notice of sale, notice thereof shall be given in the same manner as the original notice of sale. 13. Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be entitled to enforce payment and performance of any indebtedness or obligation secured hereby Iud to exercise all rights and powers ~nder this Deed of Trust or under any loan -4-