|
(d) a writ or execution or attachment of any similar proc�ss shall be entered against Trustor wnicn shall
<br /> become a +ien on the Trust Estate or any portion thereof or interest .herein and sucn execution, attac�ment or similar
<br /> procass of judpment is not released, bonaed, satistied, vacated or stayed within sixry (6o) days atter its entry or fevy; or
<br /> (e} there has occvrred a breach of or defautt under any *,erm, covenant, agreement, condition, provision,
<br /> representatian or warranry contained in any prior deed of trust or mortgage affec�ng the Trust Estate. �
<br /> 10. Acce%ratian upon Defau/t; Additiona/ Remedies. If an event of defauit occurs, Benericiary may declare the�
<br /> Indebtedness secured hereby to be due and payable and the same shalt thereupon become due and payable without any� :
<br /> presentment, �emand, protest or notice of any kind. Thereafter, Beneficiary may: �
<br /> (i) either in persan or by agent, with or without bringing any ac;ion or proceeding, or by a receiver appoirtced
<br /> by a court and without regard to the adequacy af its security, enter upon and take possession of the Trust Estate, or a
<br /> part thereof, in its ow�name or in the name of Trustee, and do any ac:s which it deems necessary ar desirable to preserve�
<br /> the value, marketability or rentability of�e Trust Fstate,or part thereof or interest therein, increase the income therefrom.
<br /> or proteci the security hereof and, with or without taking possession of the Trust Estate, sue for or otherwise collect tt�e
<br /> rents, issues and profits thereof, incluoing those past due and unpaid, and apply the same, less costs and expenses of
<br /> operation and collecaon incfuding attomeys' fees, upon any indebtedness secured hereby, all in such order as Beneficiary
<br /> may determine. The entering upan and taking passession of the Trust Estate, the collection of such rents, issues and
<br /> profits and the applicatian thereof as aforesaid shall not cure or waive any defauit or notice af default hereunder or
<br /> invalidate any act done in response to such default or pursuant to such notice of default and, notwithstanding the
<br /> continuance in possession of the Trust Estate ar the colleciion, receipt and application of rents, issues or profits, Truscee
<br /> or Beneficiary shall been entitled to exercise every right provided for in any of the loan Instruments or by law uport
<br /> occurrence of any event of deiault, inciuding the right to exercise the power of sale;
<br /> � (ii) commence an action to forecfose this Deed of Trust as a morcgage, appaint a receiver ar specifically
<br /> enforce any of the covenants hereof;
<br /> (iiii de!iver -o 'rus.ee a wrir.en declaration or derault and demand for sale and a written notic� of derauit and
<br /> elec;ion to �ause Trustor's ;nterest in ,^e Trust Estate to be sold, wnicti notic° Truszzs shall cause .o be duiy �iled for
<br /> recore in ,he appropriate or�ices or the ��aunty in whicn the Trusi Estat� is located; or
<br /> ;iv� exerc:se suc� other ngr�s or remedies at law or in equiry.
<br /> 1 1. Forec/osure byPower ofSa/e. If 3enericiary eiec:s to foreclose by exercise or,he Power of Saie ^erein conta�ned,
<br /> Benericiary snail non'ry Trustee and snail deoosit•.vith i rustee this Second Deed of Trust and any note evidenc:ng ,he Indebteoness
<br /> and such reca+ots and evidence oi exoenditures made and secured hereby as Trustee may require.
<br /> (al Uoon rec°iot or such no2ice from Benericiary, Trustee shall cause to be recorded, publisned and deiivered
<br /> to Trustor such Notice or Derault and Nonce or Sale as then required by law and by this Second Deed or Trus:. i rustee
<br /> shall. �Nithout demand on Trustor, after such time as may then be required by Iaw and aiter recordation of such Notice of
<br /> Defauit and after Notice of Sale having been given as required by law, sell the Trust Estate at the time and place or sale
<br /> fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient,
<br /> and in such order as it may determine, at aublic auction to the highest bidder for cash in lawful money of the United States
<br /> payable at the time of sale. Trustee shail deliver to such purchaser or purchasers thereof its good and sufficient deed or
<br /> deeds conveying the properry so sold, but without any covenant or warranty, express or implied. The recitals in such desd
<br /> of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including without limitavon
<br /> Trustor, Trustee or Beneficiary, may purcnase at such sale.
<br /> (b) As may be permitted by law, after deduc;ing all costs, fess and expenses of Trustee and of this Trust,
<br /> including costs of evidence or title in connec:ion with sale, Trustee shall apply the proceeds of sale to payment of (i) the
<br /> Indebtedness (ii) all other sums then secured hereby, and (iii) the remainder, if any, to the person or persons Iegally entitled
<br /> thereto.
<br /> (c! Trustes may in the manner provided by law postpone sale of alI or any portion of the Trust Estate.
<br /> 12. Remedies Not Exc/usive. Trustes and Beneficiary, and each of them, shall be entitled to enforce payment and :
<br /> performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Second Deed of
<br /> Trust or under any Loan Instrument or other agreement or any laws now or hereafter in force; notwithstanding, some or all of the
<br /> such indebtedness and abligations secured hereby may now ar hereafter be otherwise secured, whether by mortgage, deed of trust,
<br /> pledge, Iien, assignment or otherwise. Neither the acceptance of this Second Deed of Trust nar its enforcement, whether by court
<br /> action or pursuant to tt�e power of sale or other powers herein contai�ed, shall prejudice or in any manner affect Trustee's or
<br /> Beneficiary's riqht to realize upon or errforce any other security now or hereafter held by Trustee ar Beneficiary, it being agreed that
<br /> Trustee and Beneficiary, and each of them, shall be entitled ta enforce this Second Deed of Trust and any other security now o�
<br /> � 3
<br /> . . . . _-_�-
<br />
|