FOR SUCH PURPOSES OR APPEAR IN,
DEFEND OR BRING ANY ACTION OR PROCEEDING TO PROTECT ITS INTEREST IN THE PROPERTY
OR TO FORECLOSE THIS SECURITY INSTRUMENT OR COLLECT THE DEBT, AND THE COST AND
EXPENSE THEREOF (INCLUDING REASONABLE ATTORNEYS' FEES AND DISBURSEMENTS TO THE
EXTENT PERMITTED BY LAW), WITH INTEREST THEREON AT THE DEFAULT RATE FOR THE
PERIOD AFTER NOTICE FROM LENDER THAT SUCH COST OR EXPENSE WAS INCURRED TO THE
DATE OF PAYMENT TO LENDER, SHALL CONSTITUTE A PORTION OF THE DEBT, SHALL BE
SECURED BY THIS SECURITY INSTRUMENT AND THE OTHER LOAN DOCUMENTS AND SHALL BE
DUE AND PAYABLE TO LENDER UPON DEMAND.
10.
REMEDIES.
(A)
UPON THE OCCURRENCE OF ANY EVENT OF
DEFAULT, LENDER MAY TAKE SUCH ACTION, WITHOUT NOTICE OR DEMAND, AS IT DEEMS
ADVISABLE TO PROTECT AND ENFORCE ITS RIGHTS AGAINST BORROWER AND IN AND TO THE
PROPERTY, BY LENDER ITSELF OR OTHERWISE, INCLUDING THE FOLLOWING ACTIONS, EACH
OF WHICH MAY BE PURSUED CONCURRENTLY OR OTHERWISE, AT SUCH TIME AND IN SUCH
ORDER
AS LENDER MAY DETERMINE, IN ITS SOLE DISCRETION, WITHOUT IMPAIRING OR OTHERWISE
AFFECTING THE OTHER RIGHTS AND REMEDIES OF LENDER:
(I)
DECLARE THE ENTIRE DEBT TO BE
IMMEDIATELY DUE AND PAYABLE;
(II)
GIVE SUCH NOTICE OF DEFAULT AND OF
ELECTION TO CAUSE THE TRUST PROPERTY TO BE SOLD AS MAY BE REQUIRED BY LAW OR AS
MAY BE NECESSARY TO CAUSE BENEFICIARY TO EXERCISE THE POWER OF SALE GRANTED
HEREIN; BENEFICIARY SHALL THEN RECORD AND GIVE SUCH NOTICE OF BENEFICIARY'S SALE
AS THEN REQUIRED BY LAW AND, AFTER THE EXPIRATION OF SUCH TIME AS MAY BE
REQUIRED BY LAW, MAY SELL THE TRUST PROPERTY AT THE TIME AND PLACE SPECIFIED IN
THE NOTICE OF SALE, AS A WHOLE OR IN SEPARATE PARCELS AS DIRECTED BY
BENEFICIARY, OR BY TRUSTOR TO THE EXTENT REQUIRED BY LAW, AT PUBLIC AUCTION TO
THE HIGHEST BIDDER FOR CASH IN LAWFUL MONEY OF THE UNITED STATES, PAYABLE AT
TIME OF SALE, ALL IN ACCORDANCE WITH APPLICABLE LAW.
BENEFICIARY, FROM TIME TO
TIME, MAY POSTPONE OR CONTINUE THE SALE OF ALL OR ANY PORTION OF THE TRUST
PROPERTY BY PUBLIC DECLARATION AT THE TIME AND PLACE LAST APPOINTED FOR THE SALE
AND NO OTHER NOTICE OF THE POSTPONED SALE SHALL BE REQUIRED UNLESS PROVIDED BY
APPLICABLE LAW.
UPON ANY SALE, BENEFICIARY SHALL DELIVER ITS DEED CONVEYING THE
PROPERTY SOLD, WITHOUT ANY COVENANT OR WARRANTY, EXPRESSED OR IMPLIED, TO THE
PURCHASER OR PURCHASERS AT THE SALE.
THE RECITALS IN SUCH DEED OF ANY MATTERS
OR FACTS SHALL BE CONCLUSIVE AS TO THE ACCURACY THEREOF;
(III)
INSTITUTE A PROCEEDING OR PROCEEDINGS,
JUDICIAL OR NONJUDICIAL, TO THE EXTENT PERMITTED BY LAW, BY ADVERTISEMENT, BY
ACTION OR OTHERWISE, FOR THE COMPLETE FORECLOSURE OF THIS SECURITY INSTRUMENT,
IN WHICH CASE THE PROPERTY MAY BE SOLD FOR CASH OR UPON CREDIT IN ONE OR MORE
PARCELS OR IN SEVERAL INTERESTS OR PORTIONS AND IN ANY ORDER OR MANNER;
(IV)
WITH OR WITHOUT ENTRY, TO THE EXTENT PERMITTED
AND PURSUANT TO THE PROCEDURES PROVIDED