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<br />is sold, crangfo;!1'"red or furthet' encumbe!Etd~!tt~~~.'\e express ot' "-Tltten consent of Benefic1ary~
<br />Benefiel-ar:; may, at its sole optton. decfare a1'F slaM secured by this Deed of Trust to be iIID'llediately
<br />due and payable and proceed to the remedies available to it under the default provisions contained
<br />herein.
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<br />11. Events of Default. Any of the following events shall be deemed an event of default hereunder:
<br />
<br />{a) Tr"H~;tor sha 11 ha.ve failed to make payment of any installment of interest,
<br />principal or principal and interest. or any other sums secured hereby when due;.
<br />
<br />(b) There has occurred a breach of or default under any term, covenant J
<br />agre€'m~nt ~ c:nndition. provision. representation or warranty contained in this Deed
<br />of Trust, the note or any other l04n instn.unent secured hereby;
<br />
<br />(c.) There has been a default by c:he Trustor in the pa)--ment of any prior or
<br />$ubseq\:ent l.ien or encumbrance in respect to all or any part of the property;
<br />
<br />(d) Trustor 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 LV the pt'operty; or sn action to enforce any lien or encumbrance or judg-
<br />
<br />=T>r.::t .=:.=.:><!.,...",.,. f"ho j>...........""......u """ .-'n.....,.,....'...~,.::
<br />~_u__ ~~~~u___ .,.._ . ~ "i __ __. __ __~~_u__~.
<br />
<br />lL. ..~ccelEl:"ut :to:;. '-l::"..~ D€ f~lHlt. In the ~vent of any default ~ Beneficiary may declare all indabt3dn-ess
<br />secured hereby to be due and ps-!4l'!ble, atld the -same shall r:hereupuTI btt-c-c!:.e 1'if! ~d payable- wIthout any
<br />presentments demand, protest or notice of any kind. Thereafter, Beneficiary may:
<br />
<br />(a) 1?1ther In person or by agent. wi.th or without bringing any action ,or -pro-
<br />ceeding, or by receiver appointed by a. court and w~.thout regard to the adequacy of
<br />any security, en.tc't" upon a..1d. take pC5se-sefcn cf the prcperty. or eny part the-r~f,.
<br />In its Q\!.lfi na.'lJ:!e- or in the name of r:ne Trustee, and.-1o any acts_which it -deema'-nec-e~-sary
<br />and desira.ble to preserve the value~ marketabill'i-.y 'entability of the property,,_ or
<br />Pilt't thereof or interest therein, tncraa~0 th':;', ,e tne"~,fr,.,m >;;t f'......."ltect' the secu.rit'1'
<br />ber!?,of and. 1,.Jithout tukicg pO~5ga;;i~'t: or r~c_.; ....-?m"tr. Si..e for or -othe.r1i'i,se - collect--. the
<br />re:It.s, issues and profits thereat:. including those past: due and unpaid., and apply -tli_l;.,
<br />same" less costs and exp-ens~a of operation and collecti-on, including at-tom.ey>f.eu,. :--,upon;-
<br />any indebtedness secured hereby, all in 5i.K.h order as B.e.neflc1ary may d,etermme.' -The
<br />i-mtertng upon and taking pos-sessit.m of r.he trust: e-state. the.- colle-ctiait :of- _such . Tent!i,
<br />tssues >lnd :,,}rqfits and apPl1catiDl1 thereof as afcres:sid shall not cure _or waive!.: -any,-'-'de-
<br />fault. D;--;o~ice of default herennder or invalidate any act and in response, to $ouCb -,de";"
<br />fault or pursuant to such notice of default andt notwithstanding the- continuance in~
<br />posse55i.o~ of 'the property or the collection, receipt and applicati.on ,of -retlts~' iS~t!lJ
<br />or profirs, Trustee or Beneficiar}'"' may be entitled to exercise- every right- -provided foot"
<br />in any of the loan instr1..1ments or by law upon occurrence of any event. of defau1t~- :in....
<br />eluding the right t.o exercise the po~r of sale;
<br />
<br />(b) conl:1Dence an act'ion to foreclose this Deed of Trust as '8 DlOt'tgase-t ,.ap.pp-int:
<br />a recci1ler, or specifically enforce any of the covenants her-eof;
<br />
<br />{c} dcliv-e!." t" lrU5t';'.~ '.! uritt:Rn <:lel!l&l"ation of default and demand for sa-Ie,
<br />and ~') wt'itt.~~n notlc_e Qt Jefault ~nd fl'lectlon to cause Tru8torls ,int-erest in_,the prQpert:y
<br />to be s-01d~ which not ice Trust.ee shall cau..'H~ to be duly filed for record in the qf.fic.W
<br />.e~crds of the courter in which the property is lo<:ated.
<br />
<br />13. Foreclosure bv 7ow(;'r of Sale. SJwuld Beneficiary elect to fOl'eclos.e by --exer<i1se-,-~f, tbe-:~-'r'
<br />of 5al~ herein contaIned, Beneficiary shall notify Trustee and shall, dEiposit: wi~h '-T~t-ee_ ,tMif J~4El4-~Qf-
<br />Trust a.nd r:he notl:'; and :';.uch n~e:<;>ipt.s snd evid~'mc:e L'!-f expenditure!i! made and seeuxed ,hereby a$ -Tr--Wlte"
<br />~:!7 r~quire~ and upon I:i:::_que8t of the Benefic.iary. the Trustee shall ii-Ie for ~6.cQrd,.- 1n-'the aegis_ter
<br />0f D€-eas o-ffi('~ 1-'1 tLe CO\..U1tY \oo"hen~ t.ne pt.vva:r-t";.. :":'Z l.!j!:~!:.e-d-;. a notice of d;efault, setting 'fQrth .the.'-
<br />na!p.e of tho€: Trust:.Qr-~ the Book and Page or Document No. of tt-ds i.>eed of Trust as recorded in .a:iu
<br />Re'i1:ist(~r ,.)f Deed::> effi-Ct;~s the- lugal tlc$-C'ri.p-tion uf the above-described teal e-at_atQ .ilfid that,' aJ,;~e:ach-
<br />,if -an 0bli~-ation, for 'IIhh'_h said real testate- was conV'eyed as s-ecud.ty, has Qccut'red" and- -set,t1-ng_,-fottb
<br />the- nature or such breacr.. <'lUO the Trusteels elect.1on to sell the real estate to satisfy-t'he--ol.>llgat;'ioa;
<br />citiJ ;:.ft~.!" ~h..~ IEl'p:st::' '.-Jf not 1e,$5 than one (i) m<mth, the Truatce shall give written riotice --of:-the.~-_t_-~-c
<br />
<br />=;~~ g~~~~yC'~h:;;~n ~~:;~ ;;~p~;t~e~:e~~e:~~~, 3:i:~C;~~i~i/~~~ ~v~~:t;T~:S;O~~ :~_ ~;::;i:;:ih:'::~;;
<br />
<br />tjou, said notlc~ t '--~ lH~ puhlt.3IH:>:J: 1 n ~-J newspaper of general c irculat10n in the -C01,mty, wherein .sUch-'
<br />~n.upert\" is };ic..1tt;"d. ,mee .1 .....~€'k for five (5) consecutive- weeks, -th_e last -pub11eat:.1on ,to be' ~t'..lw,~:
<br />t~n \10) Jays, :'ut tHH. :sore than thirt:.' (30) days, prior- to the sale; and -the' T-rust-ee s~ll the1'1,.~ll
<br />t.-l,iid pr(!r~t~rtr at th~ time- ii.rni place designated in the notice. in the _manner pro-vided ,by l(ftrf,,-in -~ff:.et
<br />at the tii.ne of fHin~: said notice. at publ!.:: auction to the highe.~t bi,dde.r fot' ~ash.an-tr8hai1' de-1~~-
<br />to t.~U'dl pur('hast.>:t- a d,N~d tC' the prop-ert~' sold. c(susistent with the law in-.effect: at_the -time,,:,
<br />
<br />Fpon r-:-ce-lpt of the pdce bid~ 'Trustee shall deliver to the purchase. TrU6te:e_~s-_-,def&d conV~C,tb,8---th.,
<br />pr.operty st.'d.d. Rec t t alti in the Trustc-l?!.s d~ed shall be prima facie evidence of tb-a t-t'Ut_h of. the. -stat-e,'"
<br />.!l'l.e-nt-s mad~ thel"eln. "trustee shall apply the prQceeds -of the $011('. L'l the following order:-' (a) to:..all
<br />reasonable C0St~~ and exPenses of the sale, including but not 11mite-d to ~ Trustee-' 8 fees, of' ,:not _'IUD:,e
<br />th.an A: of the gross sale price, -reasonable attorney fees and costs of title eV'1d-a14Ce: (b) to"Ul
<br />sums~-~cu-r:;.d hy Ud.,,; Deed ...,.f Trust; a..'1d (c) -tht;! exce.$i:I-, if any, to- the person -OT' persona -legally Eln--
<br />titled t~retl'l, A..'lY pers-onJ including Beneficiary, may pun:::hase aaid p.roperty at said -sale",
<br />
<br />The p~tson c,)uducting the .sale may, for .a.'1y cause he or she deem:s expedlent, PO$t:pon,e thtJ '6s1e' frOlll
<br />ti~R- to ti~ until it. _'3-i<.al1 be n~mph~ted and~ in every ;:;uch (:llse. noti~~e of postponement shall be- given
<br />by public decla!".!1ti,m thereof hv :.tich person tit the. t:i.me and plaJ;;e last. appoInted for the sale~ pro-
<br />\-d,ded, it the .=.al.e- ts pvgtpon~d for longer than i,me (1) day beyond the dat~ designated in t,he notice of
<br />s~le. qn::.tce t.:-reT.~\Jf shall be given in the same !!'..':tQner as the orlginal notice of $8.1e.
<br />
<br />14~ Re.m~rli~s _;-"ot e::<f:,lu&ii1e~ Trtjs,t.e--e and Beneficiary, aod each of them, shall be ent.itle.d t.o en-
<br />fot('i~ P-Ol~~;;-t~~od~'~-~r1'Gr;Qi;;e--;;! any "indebtedness or ob11gat.i('u secured hereby and t:o exercise ell rights
<br />.;mri pf.'weI;"5 und~r this veeJ of Trust ur ut\d~r any .l.;,,)~m instr~ut Qr ocher agreUietlt or any 14w now Of'
<br />he-tftafter enf.f~r:::_ed; Hot<Jlt.hstandlng some Df all of th.e indebtedness and obligat:1on:e 158t:ured h~_eeby
<br />~hlC'_h ::"Hi:'! n,'~"" "l' ;~'-"r~--qftf'-r ;--~ ",tb"-!r'Wise- secured. w1:;,~tht!:r ~v 11:';;)!"f rJi!~"~. d~~~d t',f t rU8t. rledge~ 1 ten., aaaign-
<br />~-nt Qt i..'t'httrwi$e~ ~~l:'t.thf>r th~~ acceptfmC{f ;)f t'h.is D~::~d of Trust n0r ttt; enf,.)n;:~tr.ent -' whether by court
<br />.'\t;:l1{lf$ .{H tL" the p,:;wt.'_r of Bale or ,nh~r p(l.....~r~ !iel'tdn umta1ned, ~h-all prejud!.c-e c't' in any
<br /><r,atnni'-l' Tn.HH:e~l's ur fi~neftci<1.r-)"r:; t--l.ghr to- real!ztr op-on or enf,..'rc~ any other se.c\\ri-ty nOW ot' be'r-e-
<br />id..[~"!'r: lwld i'tlJ$-uW \..'r ~(m~diciilry~ it bt.>ing agr~~~d that l.'ru'iite-t:: aud ~€-nefl-cl$.t"y~ und each jjt' themt
<br />"h-llJ h~' .'tnt itlt~d to iYnf~!t.;,,:~~ thi<< Dee.] t:.f fr;.llit and dtH' (1ther fie-Curitv nuw ...w hen~after held b.v the Bene...
<br />: ~_,'~.:;':n;y ;l{ lrU;j;tt1t:'~ il1. i;;ud-. (n-d,-{'T ~tn-d t.".-3m1f/'t i1ii ~h(<,.,~ \1r el.t.he:: of ti'W~, IMY in tl:1~lr 8.b$olut0 di-se,!'&t,i-on
<br />"j~te:t~in~. X;~ 1'~."~1'l ?:-,"",!";::-!-n ;'vuf-enud }l-_!<H.."\>U ..-'[ ref,i;;;:rV(~d !;(; lrU!:Iot€€i'- or B~n>e{i;;;i'lrv 1M intfmded t.o be is';,.(--
<br />l'-"ti'b.'~ ,.d 4'~1:' C)n~i;;f r\:-~~-cl--y \;-!:-:'.,'~n ,41' ty 1:.li''''' p~1.1'.,id-(<.;:~ .;:,,:; tH~nnitte,dt but ~,...dl o:;haU h,,~ cum:ulati';,-~ a.nd
<br />nh{j:J.; h~ 1M 4~,Hth1'H t.) .-'-..-,}t'-' ;,~tht'" t'g'!9.~dy f,.iv-t"-:H heT~U{hl~r- ,:'r- D-tl'" ur 'nere.lfter existing ~t J~w (J(' .in
<br />~~f ~"lt S\-J;l,~ut-\o~,. ~.\1-P<"f <.:.r r,~r.1y ~J\"&r. 't:.: a:;~V c,f tt!~ I.H_w If:~tr-umtmt.;'ij. t(l TpJ!'S-t~t! or a~ne'"
<br />i~-i~.t'y ~q t,,' "'~l~<:?: ~'ith~,-' t".}~ 1'..~Y ~q-: \?tb-<:1-twi.!:<~, ""nr,ttt"".j ~a..> i'."" i'xt:;r,:1->;;~j.d~ \:-~)rh~i:.~ttt.-"nflv <)f $nd~?en--
<br />d-5€ntJ;v. '! r~:$ t ~~ t' I,' ~ t~ 9thi -!l~ ~}ft~l a~ b4 d~~~~ t~""-V~di~t\l b~~ 1n.i'i'uJ'~ ~'1' !l~!'t'i1t It'l'lrr ~ and {!1.t-h~t'
<br />'1 n:i-~~ $..;",''; PI,.tf.;';,W ~'u_'-'~~",i#t~'fH. re_n;l.lil_".UI;'!-$. h<'!r-e_in ,;;.fl-itl1 l,-;~ t';:;!'HH.r'U~tcl ,~>,j p:,)t!thH in~ E~_nfdt-;:dl'u;v
<br />::t,_~ "'-"-I-,'~~1~~,~ l-:'{I".'h__', ~'Hf';tt*"nt 4i~,~H-n<j;: ;n,r'l'\;.<.?t" L~ t.h~ \,;:.ttOitnt' ?-!.",d'~ ",;:.t i,-'-t\ p-u;r'~i~-tert t,"( L'k'-'.
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