OCCURRENCE OF AN EVENT OF DEFAULT. ANY OF THE ACTIONS
REFERRED TO IN THIS SECTION 3.2 MAY BE TAKEN BY BENEFICIARY AT SUCH TIME AS
BENEFICIARY IS SO ENTITLED, WITHOUT REGARD TO THE ADEQUACY OF ANY SECURITY FOR
THE OBLIGATIONS.
(E)
IN THE EVENT THAT ALL INTEREST, DEPOSITS AND PRINCIPAL
INSTALLMENTS AND OTHER OBLIGATIONS SHALL BE PAID AND ALL EVENTS OF DEFAULT SHALL
BE CURED, AND AS A RESULT THEREOF BENEFICIARY SURRENDERS POSSESSION OF THE
MORTGAGED PROPERTY TO GRANTOR, THE SAME RIGHTS HEREIN GIVEN TO BENEFICIARY SHALL
CONTINUE TO EXIST IF ANY SUBSEQUENT EVENTS OF DEFAULT SHALL OCCUR.
3.3
FORECLOSURE, SALE AND OTHER REMEDIES.
(A)
AT ANY TIME ON OR AFTER THE OCCURRENCE OF AN EVENT OF DEFAULT,
BENEFICIARY OR TRUSTEE (AS APPLICABLE), WITH OR WITHOUT ENTRY, PERSONALLY OR BY
ITS OR HIS AGENTS OR ATTORNEYS, MAY:
(I) SELL THE MORTGAGED PROPERTY OR ANY
PART THEREOF AT ONE OR MORE PUBLIC SALES, EITHER IN MASS OR IN PARCELS, AT
PUBLIC VENUE TO THE HIGHEST BIDDER FOR CASH AT THE PLACE CUSTOMARY FOR
FORECLOSURE SALES IN THE COUNTY, FIRST GIVING NOTICE OF SUCH SALE (AS PRESCRIBED
BY STATUTE) IN A NEWSPAPER OF COMMON CIRCULATION PUBLISHED IN THE COUNTY AND
DELIVERING A COPY OF SAID NOTICE TO GRANTOR AND ANY PERSON WHO HAS FILED A
REQUEST FOR NOTICE, BY UNITED STATES MAIL, POSTAGE PREPAID, CERTIFIED OR
REGISTERED, RETURN RECEIPT REQUESTED, DELIVERED TO ADDRESSEE ONLY; AND UPON SUCH
SALE, EXECUTE AND DELIVER A DEED OR DEEDS CONVEYING ALL ESTATE, RIGHT, TITLE AND
INTEREST, CLAIM AND DEMAND THEREIN, AND RIGHT OF REDEMPTION THEREOF, AT ONE OR
MORE SALES AS AN ENTITY OR IN PARCELS; AND/OR (II) INSTITUTE PROCEEDINGS FOR THE
COMPLETE OR PARTIAL FORECLOSURE OF THIS DEED OF TRUST; AND/OR (III) UPON
APPLICATION TO A COURT OF COMPETENT JURISDICTION, BENEFICIARY SHALL BE ENTITLED
AS A MATTER OF STRICT RIGHT WITHOUT NOTICE AND WITHOUT REGARD TO THE SUFFICIENCY
OR VALUE OF ANY SECURITY FOR THE OBLIGATIONS SECURED HEREBY OR THE SOLVENCY OF
ANY PARTY BOUND FOR ITS PAYMENT, TO APPOINT A RECEIVER TO TAKE POSSESSION OF AND
TO OPERATE THE MORTGAGED PROPERTY OR ANY PART THEREOF AND TO COLLECT AND APPLY
THE INCOME, RENTS, ISSUES, PROFITS AND REVENUES THEREOF.
21
THE RECEIVER SHALL HAVE ALL OF THE RIGHTS AND POWERS PERMITTED UNDER THE LAWS OF
THE STATE WITHIN WHICH THE MORTGAGED PROPERTY IS LOCATED. GRANTOR SHALL PAY TO
BENEFICIARY UPON DEMAND ALL EXPENSES, INCLUDING RECEIVER'S FEES, ATTORNEYS'
FEES, COSTS AND AGENT'S COMPENSATION INCURRED PURSUANT TO THE PROVISIONS OF THIS
PARAGRAPH, TO THE EXTENT PERMITTED BY LAW; AND ALL SUCH EXPENSES SHALL BE
SECURED BY THIS DEED OF TRUST; AND/OR (IV) TAKE SUCH STEPS TO PROTECT AND
ENFORCE ITS RIGHTS WHETHER BY ACTION, SUIT OR PROCEEDING IN EQUITY OR AT LAW FOR
THE SPECIFIC PERFORMANCE OF ANY COVENANT, CONDITION OR AGREEMENT IN THIS DEED OF
TRUST OR THE OTHER CREDIT DOCUMENTS, OR IN AID OF THE EXECUTION OF ANY POWER
HEREIN GRANTED, OR FOR ANY FORECLOSURE HEREUNDER, OR FOR THE ENFORCEMENT OF ANY
OTHER APPROPRIATE