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<br />be immediately due and payable and proceed to the remedies available to it under the default
<br />provisions contained herein.
<br />11, Events of Default. Any of the following events shall be deemed an event of
<br />default hereunder:
<br />(a) Trustar shall have failed to make payment or any
<br />installment of interest, principal or principal and interest or any
<br />other sums secured hereby when due;
<br />(b) There has occurred a breach of or default under any
<br />term, covenant, agreement, condition, provision, representation or
<br />warranty contained in this Deed of Trust, the note or any other loan
<br />instrument secured hereby;
<br />(c) There has been a default by the Trustor in the
<br />payment of any prior or subsequent lien or encumbrance in respect
<br />to all or any part of the property;
<br />(d) Trustor shall file a voluntary petition in bankruptcy
<br />ar shall be adjudicated bankrupt or insolvent, or shall make an as-
<br />signment for the benefit of creditors in respect to the property; or
<br />an action to enforce any lien or encumbrance or judgments against
<br />the property is commenced.
<br />12. Acceleration U on Default. In the event of any default, Beneficiary may declare
<br />all indebtedness secured hereby to be due and payable, and the same shall thereupon became due
<br />and payable without any presentment, demand, protest or notice of any kind. Thereafter,
<br />Beneficiary may:
<br />(a) either in person or by agent, with ar without bringing
<br />any action or proceeding, or by receiver appointed by a court and
<br />without regard to the adequacy of any security, enter upon and take
<br />possession of the property, or any part thereof, in its own name or
<br />in the name of the Trustee, and do any acts which it deems
<br />necessary and desirable to preserve the value, marketability or rent-
<br />ability afthe property, ar part thereof or interest therein, increase
<br />the income therefrom ar protect the security hereof, and, without
<br />taking possession of the property, sue for or otherwise collect the
<br />rents, issues and profits thereof, including those past due and
<br />unpaid, and apply the same, less costs and expenses of operation
<br />and collection, including attorney fees, upon any indebtedness
<br />secured hereby, all in such order as Beneficiary may determine.
<br />The entering upon and taking possession of the trust estate, the
<br />collection of such rents, issues and profits and application thereof
<br />as aforesaid shall not cure ar waive any default or notice of default
<br />hereunder or invalidate any act and in response to such default or
<br />pursuant to such notice of default and, notwithstanding the
<br />continuance in possession of the property ar the collection, receipt
<br />and application of rents, issues or profits, Trustee or Beneficiary
<br />maybe entitled to exercise every right provided far in any of the
<br />loan instruments ar by law upon occurrence of any event of default,
<br />including the right to exercise the power of sale;
<br />(b) commence on action to foreclose this Deed of Trust
<br />as a mortgage, appoint a receiver, or specifically enforce any of the
<br />covenants hereof;
<br />(c) deliver to Trustee a written declaration of default
<br />and demand for sale, and a written notice of default and election to
<br />cause Trustor's interest in the property to be sold, which notice
<br />Trustee shall cause to be duly filed far record in the official records
<br />of the county in which the property is located.
<br />13. Foreclosure by Power of Sale. Should Beneficiary elect to foreclose by exercise
<br />of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with
<br />Trustee this Deed of Trust and the note and such receipts and evidence of expenditures made and
<br />secured hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall file
<br />for record, in the Register of Deeds office in the County where the property is located, a notice of
<br />default, setting forth the name of the Trustor, the Book and Page ar Document No. of this Deed
<br />of Trust as recorded in said Register of Deeds office, the legal description of the above-described
<br />real estate and that a breach of an obligation, for which said real estate was conveyed as security,
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