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<br />84 - 006212
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<br />18 $.1) Id. I" ransferred or further €'n(~umbercd ....1 thout t he express or wrttten consent 0: Benef? ciary,
<br />8enefi,-tary may, at its sole option, declare all sums secured by this Deed of Trust to be immediately
<br />du~'\;r.,.yab!{> .and proo:'.€.'€'r:!. to the !'€:me--d1e!! ~va!l!!.ble to it tmder the default pr~'.!ie.ic-:1e contained
<br />herein.
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<br />11. Events of Default. Any of the following events shall be deemed a.., event of default hereunder:
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<br />(a) Trustor shall have failed to make payment of any installment of interest,
<br />principa.l or principal and interest or any other sums secured hereby when due;,
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<br />(b) There has occurred a breach of or default tmder any term, covenant,
<br />agreement, conditiotl, provision, representation or warranty contained in this Deed
<br />of Trust, the note or any other loan instrument secured hereby;
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<br />(e:) There has been a default by the Trustor in the payment of any prior or
<br />subsequent l:ien or encumbrance in respect to all or any part of the property;
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<br />Cd) 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 to the property; or an action to enforce any lien or encumbrance or judg-
<br />ments dgainst tt;e property is commenced.
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<br />12. Acceleration Uoon Default. In the event: of any default.. Benefieiary may declare all indebtedness
<br />secured he'reby to be due and payable. and the same shall thereupon become due and payable without any
<br />presentment. Jemand. protest or notice of any kind. Thereafter, Beneficiary may:
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<br />(a) li'ither in p~rson or by ag.ent. with or ~"'ithout bringing any action or pro-
<br />ceeding. or by receiver appointed by a court and w:t thout regard to the adequacy of
<br />any security, enter llpon and take possession of the propert:y. or any part thereof~
<br />1 nits 0....'11 name or in the name of the Tru.stee, a....d do any acts which it deems necessary
<br />and desirable to preserve rhe value. marketability or rentability of the property; or
<br />part thereof 0::' interest therein, increase the income. therefrom or protect the security
<br />hereof ar.d~ .....i;:hout taking possession or the property, sue fot' or otherw.1se collect, the
<br />rents. issues and profits thereof, including th:.;->,,'i;' r-7St due and unpaid~ and apply the
<br />same, Le.ss cosrs and e-xpenses of op-erf!t.icn an,:i !::-'..o::c'ion. inclv..Lng attorney fees, upon
<br />any ir..debtedness secured hereLy, all 1u. :~i_::'::- )."':;, [" as ~-.,;neficiary may determine.. The
<br />entering upon and taking p-OS5'~i':s'~ :1"1 cf t;\ '-iSt estat.e, the collection of such I'ents~
<br />issues and profits and applicat ion thereof as aforesaid shall not cure or waive ,any de-
<br />facie ,Or notice of defauit hereunder or invalidate. any act and :in response to such de-
<br />f~ult or pnrsua.l1t to such notice of default and~ notWithstanding the continWlIlce in
<br />possession of the. property or the c.ollection, receipt and application of rents, issues
<br />(}t" prof!!:s, :=~st~e GT B€:n~flciary may be ent.itled to exercise every right provided ,for
<br />in any of the loan instruments or by law upon occurrence of any event of default, in-
<br />cluding the -right. to exercise rb.e po-wer of sale;
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<br />(b) commence an net ion to foreclose this Deed of Trust as a mortgagej appoint
<br />a receiver. or specifically enforce any or the covenants hereof;
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<br />dt":liver to Tr'Jstee .a t.;Titten declaration of default and demand for sale,
<br />and a written noti-ce of default and election to cause Trustorts interest in the prop_ere-y
<br />to be sold, \"'hich noti.ce Trustee shall cause to be duly filed for record in t-he official-
<br />records of the county in ,...h'ich the property is located.
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<br />13, ForeclDsur~ by Power of Sale. Should Beneficiary elect to foreclose by exercise: of'the power-
<br />of s.ale berein contained. Beneficiary shall notify Trustee and shall depo:jiit w1th-Tru--s;t~a--thi3--Deed-.cf
<br />Trust and the note and such ree\.': ipts an.d evidence of expenditures made and secured hereby as Trustee
<br />may require.. and t.>pon request of the Beoeiic_iary, chc Trustee shall file for record, in t.he Register
<br />(If Deeds offic~ in the Count)" ;,.,'hen:, r:he property is lc-cated.- a notice of default, setting __forth the
<br />name of r-.he rrus::_Clr~ thiJ Book and Page. or: Document No. of this Deed of Trust: as recorded in -said
<br />Regisrer or Deeds off.ice~ the legal descript10n of the above-described re.al estate and that a breach
<br />vf an. obligation, fDr v.'hich said real estate W<iS conveyed as security, has occurred,_ and setting forth
<br />the nature- of suc_h breach _and the Tru.st~e' selection tD $.::11 the Teal estate to a-ittisfy the obligstion;
<br />and a.fter the lapse_ of not less than one: (1) month. the Trustee shall give WTitten notice of the time
<br />and place of sale to'hich mav be ben,'een 9:00 a.m. and 5 p.m. at the premises, or at the Courthouse in
<br />thE' County '-I-'heti:".in such property is located, desc.ribing the property to be sold by its legal descr:lp-
<br />lion. said notice t[) be pUblished in a newspaper of general circulation in the County wherein- such
<br />~}roperty 1.s h'cateci. ~"ncc a ....eek for five (5.) consecutive weeks, the last publication to be at 'least_
<br />ten (10) days, but not more than thirty (30) days... prior to the sale; and the Trustee shall_then sell
<br />.r;.a.id property at the time and place de.signated in the noticet in the IUanner provided by law,'in effect
<br />at the ti~ 0f filing s.aid notice. at public auction to the highest bidder for cash and shall deliver
<br />to such pUl.<,,;haser a Jeed to th~ property -sold.. consistent with the law .in effect at the -time.-
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<br />Upon receipt of th~ pdcp bi.d. -r-r~stee shall d.-cliver to the purchase, 'l'rustee:s deed conveying _the
<br />\iToperty $old. Recitals in the Trustee's d(!ed shall be prima facie evidence of the truth of the state-
<br />ment!) mad~ t.herein. Trustee shall apply the. proceeds of the sa.le in the following ordet".: (a) to all
<br />reasonable c.osts and expenses of the sale, includ.ing but not l1.mited to,- Trustee' 8 fees of 'not more
<br />than_____% of the gross sale pt'l~e, reasonable attorney fees and costs of title evidence; (b) to all
<br />sums secu.red by t his Deed of Trust; and (c) the eXCe85i' if any.. to t:he person or persons legally en-
<br />t Ltled tt~reLO. Any pe-rson~ in<;luding Benefici-ary. may pUI'chase said property at said eale.
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<br />The person condu-cting the saLe may~ for any cause he or she deem.s expedient., postpone the sale _ft"_Qm
<br />time to time unt,il it shall be compl~ted and, In every ~uch case, notice of postponement shall be given
<br />D'l pu.blic cieclarar.1on thereef ~~, such person at the time and plM'E'! last appointed fol:' the sale; pro-
<br />vi.ded, if the ~al-e 1~ postponed for l{m_g~r rh<:t.n ;:\ne (l) day beyond the date designa-ted in the notice of
<br />sale, noti.('~ thereof shall be given in the same manner as the original. notice of sale.
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<br />14. ~~J10t, .E..:cl.u.s.ive.. Lruste~ and Beneficiary, and each of them, shall be entitled to en....
<br />f1..,r-c~ pa)'1l'le-nt and perfor.mance of any indebte.dn~s8 or obligation secured hereby and to exercise all rights
<br />~d }-~~ers u..'1der this tlee4 of Tru.-:H:. Or' unde:::: any loa."... instrt.i.W€.nt or other agreement. or any la.s now or
<br />hel;'eaft~r e1'lfor<:eci. notwithstanding ISOmt!: or all of the indebtednes$ and obligations secur~d het'eby,
<br />-which may U:!Yio' ",'"I: j-;~n~ilftf':r bt: o;:h-erw15~ secured. ~"he'ther by ffii..H"tgilge. d~ed of tnlst; pledge, lIen. assign-
<br />ment ot' uthii:t'W1~e. Neither the acc~ptanct:t of this Dt!Cu of Trust nor its t::::!nforcement f whether by court
<br />iAC:tlun or- putsu.an!; to tne pO....-i:t ~~f sal~, or other pow-en;; herein contained. shall prejudlt:e or .in any
<br />ma:-n(if;'!:( 4.ffett fr-tlRtee's or Ii-elWfie::tary's right to -,eali:e upon or t'uforce any other e-ecurity no..... or here:-
<br />';lft'!!' held by Trustee or Beneftci.ary, it heing agre.ed that Trust~e and BenefiCiary, ilnd each of themt
<br />,'<?ha-ll bti -f;'O.t1tl-ed tt1 e-nfot~-e th18 D-eed of Trust and any other Be~urlty now or h~raafter held -by the Be.n~-
<br />f1;:i-8:XY G[ .:rt.uHe~ in !;>o.ch Qrdt'l't' and manner as t:.h-ey~ or Ii.':ither of th~!ll~ roav in theft' ttbaolute Jl$cretion
<br />d~-tef'U\l1'l.~. N~) n."~ed;; h..'re-:in, <:.onferre-d upon 0.:.' rese:r,,~rl to Tr-u,!:ltee or .acne! ic tary is intended to ht~ ex-
<br />dtl-~tvE' ;:'1:[ ar~}' lH,'hn: ~"e.mfj.dy he-r..;:_ln or by law t:Q:-ov'1d-ed or p#naitted-~ hut i~a-ch shall h-e curoulativ-@ aniJ
<br />N.-halJ b~ h, i;idd:l-titJt"~ t"" ~voiJ.ry Hrher r-emooy g~_-V€'fi her_il'mnde:r o-r now or bereiitt!t'r ~xlij-ting at luw' -or in
<br />or- !;}-y ij.t4tur.~, or rv_Uk'tdy g.h--efl O'i' ~my of the 10an in5tn__u:H~t'lt$ to Trustee ~r Bi!-fle-
<br />i'H t-Q ,..hkh ~iUiet t_he~ may be othct'wtae ~nt1tled- lJIdy bt:" o;>x~ri.-;l~~tl.. ('o:lct,rr-ii"ntly or {mlepen-
<br />d~(itt'ft trl.~ ti.~ t,l) t ~ and .4__'"' .Jft:i:tIt a~ Pt' d{~t1!mt!:,d -eXpedient t>v "fruste\>,.! 0;; 8i.:>I.!e!'~c;lan!'i Lind elt:her
<br />t)~ !t.--'i) ~',;u;~~ Ir~~',cH$1st~Ht H:%-,di~i1, ho:-;relu !$bali. 1.';<('; t,::<~n~t.rui?d 1~:S- HerH~ficie.~'y
<br />rro% ~l!!,~k:t~~i.t .;1 ;1~d1(t~tli:_Y {-'.H~~~r:tt: Al:!o:t;iJhF-H: T-r-;-.t5to-r to th~ f.iXt.f..H1X $Hu:h ..~~t.i(h"'l lei po?-r-mht'k'-d 1<<'-""
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