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<br />~ <br /> <br />senior encumbrances, if any, the beneficiary may make any such payments or procure any such <br />insurance, and all monies so paid with interest thereon at the rate of ten percent (10%) per annum <br />shall be added to and become a part of the indebtedness secured by this Deed of Trust and may be <br />paid out ofthe proceeds of the sale of the Property if not paid by the GRANTOR. In addition, and at its <br />option, the beneficiary may declare the indebtedness secured hereby and this Deed of Trust to be in <br />default for failure to procure insurance or make any further payments required by this paragraph. In <br />the event of the sale or transfer of the Property, the beneficiary, at its option, may declare the entire <br />balance ofthe note immediately due and payable. <br /> <br />And that in case of any default, whereby the right of foreclosure occurs hereunder, the <br />PUBLIC TRUSTEE, the State as holder of the note, or the holder of a certificate of purchase, shall at <br />once become entitled to the possession, use and enjoyment of the Property aforesaid, and to the rents, <br />issues and profits thereof, from the accruing of stich right and during the pendency of foreclosure <br />proceedings and the period of redemption, if any there be, and such possession shall at once be <br />delivered to the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said certificate of <br />purchase on request, and on refusal, the delivery of the Property may be enforced by the PUBLIC <br />TRUSTEE, the State as holder of the note, or the holder of said certificate of purchase by an appropriate <br />civil suit or proceeding, and the PUBLIC TRUSTEE, or the holder of said note or certificate of purchase, <br />or any thereof, shall be entitled to a Receiver for said Property, and of the rents, issues and profits <br />thereof, after such default, including the time covered by foreclosure proceedings and the period of <br />redemption, if any there be, and shall be entitled thereto as a matter of right without regard to the <br />solvency or insolvency of the GRANTOR or of the then owner of said Property and without regard to <br />the value thereof, and such Receiver may be appointed by any court of competent jurisdiction upon ex <br />parte application and without notice - notice being hereby expressly waived - and all rents, issues and <br />profits, income and revenue therefrom shall be applied by such Receiver to the payment of the <br />indebtedness hereby secured, according to the law and the orders and directions of the court. <br /> <br />And, that in case of default in any of said payments of principal or interest, according to the <br />tenor and effect of said promissory note or any part thereof, or of a breach or violation of any of the <br />covenants or agreements contained herein and in the Contract, by the GRANTOR, its successors or <br />assigns, then and in that case the whole of said principal sum hereby secured, and the interest thereon <br />to the time of the sale, may at once, at the option ofthe legal holder thereof, become due and payable, <br />and the said Property be sold in the manner and with the same effect as if said indebtedness had <br />matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable <br />amount for services in the supervision of said foreclosure proceedings shall be allowed by the PUBLIC <br />TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a <br />reasonable attorney's fee shall be taxed by the court as a part of the cost of such foreclosure <br />proceedings. <br /> <br />It is further understood and agreed, that if a release or a partial release of this Deed of Trust <br />is required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants <br />and agreements contained herein and in the Contract shall extend to and be binding upon the <br />successors or assigns of the respective parties hereto; and that the singular number shall include the <br />plural, the plural the singular, and the use of any gender shall be applicable to all genders. <br /> <br />-} <br />(3/ <br />