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<br />84,-~J
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<br />006240
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<br />or notice of default hereunder or invalidate
<br />any act and in response to such default or
<br />pursuanc. to such notice of default and, not-
<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 occurrence
<br />of any event of default, including the right
<br />to exercise the power of sale:
<br />
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<br />(b)
<br />this Deed
<br />receiver,
<br />covenants
<br />
<br />commence an action to foreclose,
<br />of Trust as a mortgage, appoint a
<br />or specifically enforce any of the
<br />hereof;
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<br />(c) deliver to Trustee a written
<br />declaration of default and demand fer sale,
<br />and a written notice of (L<~<;..lt and election
<br />to cause Trustor t s in t, 't "t i:" the property
<br />to be sold, which no'c'~ _:3 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.
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<br />13. p'oreclosure by Power of Sale. Should Beneficiary elect
<br />to foreclose by exercise of the power of sale herein contained,
<br />Beneficiary shall notify Trustee and shall deposit with Trustee
<br />this Deed of Trust and the note and such receipts and evidence of
<br />expenditures made and secured hereby as Trustee may require, and
<br />upon request of the Beneficiary, the Trustee shall file for
<br />record, in the Register of Deeds office in the County where the
<br />property is located, a notice of default, setting forth the name
<br />of the Trustor, the Book and Page or Document No: of this Deed of
<br />Trust as recorded in said Register 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 occurred, and setting forth the nature of such
<br />breach and the Trustee f s election to sell the real estate to
<br />satisfy the obligation: and after the lapse of not less than one
<br />(1) month, the Trustee shall give written notice of the time and
<br />place of sale which may be between 9:00 a.m. and 5 p.m. at the
<br />premises, or at the Courthouse in the County wherein such
<br />property is located, describing the property to be sold by its
<br />legal description, said notice to be published in a newspaper of
<br />general circulation in the County wherein such property is
<br />located, once a week for five (5) consecutive weeks, the last
<br />publication to be at least ten (10) days, but not more than
<br />thirty (30) 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.
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<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 Jale in the following order: (a) to
<br />all reason",hle costs and expl''mses of the saIl": inCluding but not
<br />limited to, Trustee's fees of not more than ~% of the gross
<br />sa~e price, reasonable attorney fees and costs of title evidence:
<br />(b) to all sums secured by this Deed of Trust; and (c) the
<br />excess, if any, to the person or persons legally entitled
<br />thereto. Any person, including Beneficiary, may purchase said
<br />property at said sale.
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<br />The person conducting the sale may, for any cause he or she
<br />deems expedient, postpone the sale from time to time until it
<br />shall be completed and, in every such case, notice of postpone-
<br />ment 8hall be given by public declaration thereof by such person
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