EVENT OF DEFAULT,
BENEFICIARY MAY (FOR ITSELF OR BY OR THROUGH OTHER PERSONS, FIRMS, OR ENTITIES)
HOLD, LEASE, MANAGE, USE, OR OPERATE THE MORTGAGED PROPERTY FOR SUCH TIME AND
UPON SUCH TERMS AS BENEFICIARY MAY DEEM PRUDENT UNDER THE CIRCUMSTANCES (MAKING
SUCH REPAIRS, ALTERATIONS, ADDITIONS, AND IMPROVEMENTS THERETO AND TAKING SUCH
OTHER ACTION AS BENEFICIARY MAY FROM TIME TO TIME DEEM NECESSARY OR DESIRABLE)
FOR THE PURPOSE OF PRESERVING THE MORTGAGED PROPERTY OR ITS VALUE, PURSUANT TO
THE ORDER OF A COURT OF APPROPRIATE JURISDICTION OR IN ACCORDANCE WITH ANY OTHER
RIGHTS HELD BY BENEFICIARY IN RESPECT OF THE MORTGAGED PROPERTY. GRANTOR
COVENANTS TO PROMPTLY REIMBURSE AND PAY TO BENEFICIARY ON DEMAND, AT THE PLACE
WHERE THE NOTE IS PAYABLE, THE AMOUNT OF ALL REASONABLE EXPENSES (INCLUDING
WITHOUT LIMITATION THE COST OF ANY INSURANCE, IMPOSITIONS, OR OTHER CHARGES)
INCURRED BY BENEFICIARY IN CONNECTION WITH BENEFICIARY'S CUSTODY, PRESERVATION,
USE, OR OPERATION OF THE MORTGAGED PROPERTY, TOGETHER WITH INTEREST THEREON FROM
THE DATE INCURRED BY BENEFICIARY AT THE DEFAULT RATE, AND ALL SUCH EXPENSES,
COSTS, TAXES, INTEREST, AND OTHER CHARGES SHALL BE AND BECOME A PART OF THE
INDEBTEDNESS. IT IS AGREED, HOWEVER, THAT THE RISK OF LOSS OR DAMAGE TO THE
MORTGAGED PROPERTY IS ON GRANTOR, AND BENEFICIARY SHALL HAVE NO LIABILITY
WHATSOEVER FOR DECLINE IN VALUE OF THE MORTGAGED PROPERTY, FOR FAILURE TO OBTAIN
OR MAINTAIN INSURANCE, OR FOR FAILURE TO DETERMINE WHETHER INSURANCE IN FORCE IS
ADEQUATE AS TO AMOUNT OR AS TO THE RISKS INSURED. POSSESSION BY BENEFICIARY
SHALL NOT BE DEEMED AN ELECTION OF JUDICIAL RELIEF, IF ANY SUCH POSSESSION IS
REQUESTED OR OBTAINED, WITH RESPECT TO ANY MORTGAGED PROPERTY OR COLLATERAL NOT
IN BENEFICIARY'S POSSESSION.
POSSESSION AFTER FORECLOSURE. IF THE LIENS OR SECURITY INTERESTS HEREOF SHALL BE
FORECLOSED BY POWER OF SALE GRANTED HEREIN, BY JUDICIAL ACTION, OR OTHERWISE,
THE PURCHASER AT ANY SUCH SALE SHALL RECEIVE, AS AN INCIDENT TO PURCHASER'S
OWNERSHIP, IMMEDIATE POSSESSION OF THE PROPERTY PURCHASED, AND IF GRANTOR OR
GRANTOR'S SUCCESSORS SHALL HOLD POSSESSION OF SAID PROPERTY OR ANY PART THEREOF
SUBSEQUENT TO FORECLOSURE, GRANTOR AND GRANTOR'S SUCCESSORS SHALL BE CONSIDERED
AS TENANTS AT SUFFERANCE OF THE PURCHASER AT FORECLOSURE SALE (WITHOUT
LIMITATION OF OTHER RIGHTS OR REMEDIES, AT A REASONABLE RENTAL PER DAY, DUE AND
PAYABLE DAILY, BASED UPON THE VALUE OF THE PORTION OF THE MORTGAGED PROPERTY SO
OCCUPIED AND SOLD TO SUCH PURCHASER), AND ANYONE OCCUPYING SUCH PORTION OF THE
MORTGAGED PROPERTY, AFTER DEMAND IS MADE FOR POSSESSION THEREOF, SHALL BE GUILTY
OF FORCIBLE DETAINER AND SHALL BE SUBJECT TO EVICTION AND REMOVAL, FORCIBLE OR
OTHERWISE, WITH OR WITHOUT PROCESS OF LAW, AND ALL DAMAGES BY REASON THEREOF ARE
HEREBY EXPRESSLY WAIVED.
ABANDONMENT OF SALE. AT ANY TIME BEFORE A SALE AT FORECLOSURE UNDER POWER OF
SALE IS COMMENCED BY TRUSTEE IN ACCORDANCE WITH THIS DEED OF TRUST, TRUSTEE MAY
ABANDON THE SALE, AND BENEFICIARY MAY THEN
Deed of Trust - Page 19
INSTITUTE SUIT FOR THE COLLECTION OF THE INDEBTEDNESS AND FOR THE FORECLOSURE OF
THE LIENS