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<br />84 _ 006252
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<br />9. EVENTS OF DEFAULT. Any of the following events shall be
<br />deemed an event of default hereunder:
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<br />(a) Trustor shall have failed to make payment of any install-
<br />ment of interest, principal, or principal and interest or any other
<br />sum secured hereby when due; or
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<br />Ib) There has occurred a breach of or default under any term,
<br />covenant, agreement, condition, provision, representation or warranty
<br />contained in any of the Loan Instruments.
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<br />10, ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should an
<br />event of default occur Beneficiary may declare all indebtedness
<br />secured hereby to be due and payble and the same shall thereupon
<br />become due and payable without any presentment, demand, protest or
<br />notice of any kind. Thereafter Beneficiary may:
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<br />(a) Either in person or by agent, with or without bringing any
<br />action or proceeding, or by a receiver appointed by a court and with-
<br />out regard to the adequacy of its secu: , t ,., enter upon and take
<br />possession of the Trust Estate, <.'r ,~'" \lart therLJf, in its own name
<br />or in the name of Trustee, "1""j do :"', acts which it deems necessary
<br />or desirable [0 preserve the value, marketability or rentability of
<br />the Trust Estate, or part thereof or interst therein, increase the
<br />income therefrom or protect the security hereof and, with or without
<br />taking possession of the Trust Estate, sue for or otherwise collect
<br />the rents, issues and profits thereof, including those past due and
<br />unpaid, and apply the same, less costs and expenses of operation and
<br />collection including attorneys' fees, upon any indebtedness secured
<br />hereby, all in such order as Beneficiary may determine. The entering
<br />upon and taking possession of the Trust Estate, the collection of
<br />such rents, issues and profits and the application thereof as afore-
<br />said, shall not cure or waive any default or notice of default here-
<br />under or invalidate any act done in response to such default or pur-
<br />suant to such notice of default and, notwithstanding the continuance
<br />in possession of the Trust Estate or the collection, receipt and
<br />application of rents, issues or profits, Trustee or Beneficiary shall
<br />be entitled to exercise every right provided for in any of the Loan
<br />Instruments; or by law upon occurrence of any event of default,
<br />including the right to exercise the power of sale;
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<br />ib) Commence an action to foreclose this Deed of Trust as a
<br />mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants hereof;
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<br />(c) Deliver to Trustee a written declaration of default and
<br />demand for sale, a written notice of default and election to cause
<br />Trustor's interest in the Trust Estate to be sold, which notice
<br />Trustee shall cause to be duly filed for record in the appropriate
<br />Official Records of the County in which the Trust Estate is located.
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<br />11. FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to
<br />foreclose by exercise of the Power of Sale herein contained, Bene-
<br />ficiary shall notify Trustee and shall deposit with Trustee this Deed
<br />of Trust and the Note and such receipts and evidence of expenditures
<br />made and secured hereby as Trustee may require,
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<br />(a) Upon receipt of such notice from Beneficiary, Trustee shall
<br />cause to be recorded~ published and delivered to Trustor such Notice
<br />of Deiault and Notice of Sale as then required bylaw and by this
<br />Deed of Trust. Trustee shall, without demand on Trustor, after such
<br />time as may then be required by law and after recordation of such
<br />Notice of befault and ~fter No~ice of Sale having been given as
<br />required by law, ,;ell the Trust Estate at the time and place of sale
<br />fixed by it in such Notice of Sale, either as a whole, or in separate
<br />lots or parcels or items as Trustee shall deem expedient, and in such
<br />~rder as It may determine, at public auction to the highest bidder
<br />tor cash in Lawful money of the United States payable .at the time of
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