- Borrower fails to make any required payment due under the Note or this Trust Deed.
- Borrower fails to comply with any of the terms or conditions of the Note or this Trust Deed.
- Borrower gave materially false, misleading, or inaccurate information or statements to Lender (or
failed to provide Lender with material information) in connection with the loan.
(Check all others that apply)
☐ If Borrower abandons the Property.
☐ If a default occurs on any lien or encumbrance on the Property, or an additional lien or
encumbrance is registered on the Property without Lender’s consent.
☐ If any action or proceeding, whether civil or criminal, is begun that, in Lender’s judgment, could
result in forfeiture of the Property or other material impairment of Lender’s interest in the Property or
rights under this Trust Deed.
☐ Other: ________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
21. Acceleration. Upon the occurrence of an Event of Default, Lender shall give notice to Borrower
specifying: (a) the default; (b) the action required to cure the default; (c) a date, not less than __________
days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure
to cure the default on or before the date specified in the notice may result in acceleration of the sums
secured by this Trust Deed and sale of the Property. The notice shall further inform Borrower of the right
to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default
or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date
specified in the notice, Lender at its option may require immediate payment in full of all sums secured by
this Trust Deed without further demand and may invoke the power of sale and any other remedies
permitted by applicable law.
22. Power of Sale. If Borrower remains in default after __________ days, Lender may at it option
foreclose and force a sale of the Property without a judicial proceeding. If Lender invokes the power of
sale, Lender shall give written notice to Trustee of the occurrence of an event of default and of Lender’s
election to cause the Property to be sold. Trustee shall record a notice of sale in each county in which any
part of the Property is located and shall mail copies of the notice as prescribed by applicable law to
Borrower and to the other persons prescribed by applicable law. After the time required by applicable law
and after publication and posting of the notice of sale, Trustee, without demand on Borrower, shall sell the
Property at public auction to the highest bidder for cash at the time and place designated in the notice of
sale. Trustee may postpone sale of the Property by public announcement at the time and place of any
previously scheduled sale. Lender or its designee may purchase the Property at any sale.
23. Remedies. Lender may enforce its rights or remedies in equity or at law, or both, whether for specific
performance of any provision in this Agreement or to enforce the payment of the Loan or any other legal
or equitable right or remedy. The rights and remedies of Lender now or hereafter existing at law or in
equity or by statute or otherwise shall be cumulative and shall be in addition to every other such right or
remedy. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this
Trust Deed, including, but not limited to, reasonable attorneys’ fees and costs of title evidence.