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<br />200901685
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<br />7. PURCHASE MONEY TRUST DEED. This trust deed is a purchase money trust
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<br />deed.
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<br />8. SUCCESSORS AND ASSIGNS. This Deed of Trust applies to, inures to the
<br />benefit of and binds all parties hereto, their heirs, legatees, devisees, personal
<br />representatives, successors and assigns. The term "Beneficiaries" shall mean the owners
<br />and holders of the Note, whether or not named as Beneficiaries herein.
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<br />9. INSPECTIONS. Beneficiaries, or their agents, representatives or workmen, are
<br />authorized to enter at any reasonable time upon or in any part of the Trust Estate for the
<br />purpose of inspecting the same and for the purpose of performing any of the acts he is
<br />authorized to perform under the terms of any of the Loan Instruments.
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<br />10. EVENTS OF DEFAULT. Any of the following events shall be deemed an event of
<br />default hereunder:
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<br />(a) Trustors shall have failed to make payment of any installment of interest, principal,
<br />or principal and interest or any other sum secured hereby when due; or,
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<br />(b) There has occurred a breach or default under any term, covenant, agreement,
<br />condition, provision, representation, or warranty contained in any of the Loan Instruments; or,
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<br />(c) Trustors shall have failed to make payment of any installment of taxes or insurance
<br />premiums when due, which taxes and insurance premium are also secured hereby.
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<br />11. ACCELERATION UPON DEFAULT, ADDITIONAL REMEDIES. Should an event
<br />of default occur, Beneficiaries may declare all indebtedness secured hereby to be due and
<br />payable, and the same shall thereupon become due and payable without any presentment,
<br />demand, protest, or notice of any kind. Thereafter the Beneficiaries may:
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<br />(a) Either in person or by agent, with or without bringing any action or proceeding, or
<br />by a receiver appointed by a Court and without regard to the adequacy of its security, enter
<br />upon and take possession of the Trust Estate, or any part thereof, in its own name or in the
<br />name of Trustee, and do any acts which it deems necessary or desirable to preserve the
<br />value, marketability or rentability of the Trust Estate, or part thereof or interest therein,
<br />increase the income therefrom or protect the security hereof, and with or without taking
<br />possession of the Trust Estate, sue for or otherwise collect the rents, issues and profits
<br />thereof, including those past due and unpaid, and apply the same, less costs and expenses of
<br />operation and collection, including attorney's fees, upon any indebtedness secured hereby, all
<br />in such order as Beneficiaries may determine. The entering upon and taking possession of
<br />the Trust Estate, the collection of such rents, issues and profits and the application thereof as
<br />aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any
<br />act done in response to such default or pursuant to such notice of default and, notwithstanding
<br />the continuance in possession of the Trust Estate or the collection, receipt and application of
<br />rents, issues or profits, Trustee or Beneficiaries shall be entitled to exercise every right
<br />provided for in any of the Loan 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 />(b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a
<br />receiver, or specifically enforce any of the covenants hereof;
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<br />(c) Deliver to Trustee a written declaration of default and demand for sale, and a
<br />written notice of default and election to cause Trustors' interest in the Trust Estate to be sold,
<br />which notice Trustee shall cause to be duly filed for record in the appropriate Official Records
<br />of the County in which the Trust Estate is located.
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<br />12. FORECLOSURE BY POWER OF SALE. Should Beneficiaries elect to foreclose
<br />by exercise of the Power of Sale herein contained, Beneficiaries shall notify Trustee and shall
<br />deposit with Trustee this Deed of Trust and the Note and such receipts and evidence of
<br />expenditures made and secured hereby as Trustee may require.
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