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�011A�6�� Four: Hundred Fifly Thousand Dollars ($450,000.00), which policies shall name the BENEFICIARIES as additional insured(s), with the loss proceeds payable to the parties as their interests may appear hereunder. TRUSTORS agree to provide BENEFICIARIES with copies of such policies or certificates of insurance during the term of this indebtedness, which policies of insurance may not be cancelled by said carrier without fifteen (15) days written notice to BENEFICIARIES. TRUSTORS covenant and agree that a failure to make any payment, either principal or interest, on the Note secured hereby when due and payable, or a failure to comply with any of the covenants and agreements herein made shall cause the whole sum of money hereby secured to become immediately due and collectible at the option of the BENEFICIARIES, and BENEFICIARIES shall have the right to cause Notice af Default to be given and the premi�es to be sold as provided herein. The parties mutually agree as follows: A. At any time and from time to time upon written request of BENEFICIARIES, payment of fees and presentation of this DEED OF TRUST and the Note for endorsement (in case of full r.econVeyance, for cancellation and retention), without affecting the liability of any person for the payment of the indebtedness, TRUSTEE.may (a) consent to the making of any map or plat of said property; (b) join in granting ar�y easement or creating any restriction thereon; (c) join in any subordination or other agreement affecting this DEED OF TRUST or the lien or charge thereof; (d) reconvey this DEED OF TRUST or the lien or cliarge thereof; (d) reconvey, without warranty, all or any part of said properiy. B. The grantee in any Deed of Reconveyance may be described as "the person or persons entitled thereto", and the recitals therein of any matters or facts shall be conclusive proof of the truthfulness thereof. C. Upon ciefault by TRUSTORS in the payment of indebtedness secured hereby or in the performance of any agreement hereunder, BENEFICIARIES may declare all sums secured hereby immediately due and payable by delivery to TRUS'�'EE of written declaration of default. If BENEFICIt�RIES desire said property to be sold, they shall deposit with TRUSTEE this DEED OF TRUST and all promissory notes and documents evidencing expei�ditures secured hereby, and shall deliver to TRUSTEE a written Notice of Default and election to cause said property to be sold in the form required by law, which shall be duly filed for record by TRUSTEE. 1. After the lapse of such time as may be required by law (presently being one (1) morith following the recordation of said Notice of Default), Notice of Default and Notice of Sale having been given as required by law, TRUSTEE, without demand on TRUSTORS, shall sell said property on the date and at the time and place designated in said Notice of Sale, at public auction to the highest bidder, the purchase price payable in lawful money of the United States at the time of sale. The person conducting the sale m�y, for any cause he deems expedient, postpone the sale from time to time until it shall be completed and in every such case, notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the sale; provided, if the sale is postponed for longer than one (1) day beyond the day designated in tlie Notice of Sale, notice thereof shall be given in the same manner as the original Notice of Sa1e. TRUSTEE shall execute and deliver to the purchaser his Deed conveying said property so sold, but without any covenant or warranty, express or implied. The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including BENEFICIAIZIES, may purchase at the saie. TRUSTORS hereby covenant, warrant and defend the title of the above property to purchaser at sale. D. When the TRUSTEE sells the trust properly pursuant to the powers granted herein, the TRUSTEE shall apply the proceeds from the sale of such property in the following order of priority: 1. To the cost and expense of exercising the power of sale and of the sale, including attorney fees, evidence of title and other sale expenses, and a trustee's fee not to exceed One percent (1%) of the gross sale price; -2-