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<br />Bk Vol P
<br />05020201 OPR 2726 52~
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<br />recitals state facts and are without further question to be so accepted, and Grantor does hereby ratify and
<br />confirm any and all acts that Trustee may lawfully do in the premises by virtue hereof. In the event of the
<br />resignation or death of Trustee, or his removal from his county of residence stated on the frrst page
<br />hereof, or his failure, refusal, or inability, for any reason, to make any such sale or to perform any of the
<br />trusts herein declared, or, at the option of Holder, without cause, then Holder may appoint, in writing, a
<br />substitute trustee, who shall thereupon succeed to all the Rights, Liens, and trusts herein granted to and
<br />vested in Trustee. Such appointment may be made on behalf of such Holder by any person who is an
<br />authorized officer or agent of Holder. To the extent Holder is a municipal corporation, such appointment
<br />may be made by the city manager or other chief administrative officer of such corporation, or such
<br />person's designee, without the necessity of any action by the City Councilor other governing body of
<br />such municipality. In the event of the resignation or death of any such substitute trustee or his failure,
<br />refusal, or inability to make any such sale or perform such trusts, or, at the option of Holder, without
<br />cause, successive substitute trustees may thereafter, from time to time, be appointed in the same manner.
<br />Wherever herein the word "Trustee" is used the same shall mean the person who is the duly appointed
<br />trustee or substitute trustee hereunder at the time in question.
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<br />(d) Holder may, or Trustee may upon written request of Holder, proceed by suit or suits, at
<br />law or in equity, to enforce the payment and performance of the Obligation in accordance with the terms
<br />hereof and of the Note or other instruments evidencing it, to foreclose the Liens of this instrument as
<br />against all or any part of the Mortgaged Property, and to have all or any part of the Mortgaged Property
<br />sold under the judgment or decree of a court of competent jurisdiction.
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<br />(e) Holder, as a matter of right and without regard to the sufficiency of the security, without
<br />any showing of insolvency, fraud, or mismanagement on the part of Grantor, and without the necessity of
<br />filing any judicial or other proceeding other than the proceeding for appointment of a receiver, shall be
<br />entitled to the appointment of a receiver or receivers of the Mortgaged Property, or any part thereof, and
<br />of the income, rents, issues, and profits thereof.
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<br />(f) Holder may enter upon the Land, take possession ofthe Mortgaged Property, and remove
<br />any of the Accessories, with or without judicial process, and, in connection therewith, without any
<br />responsibility or liability on the part of the Holder, take possession of any property located on or in the
<br />Mortgaged Property which is not a part of the Mortgaged Property and hold or store such property at
<br />Grantor's expense.
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<br />(g) Holder may require Grantor to assemble any of the Accessories and make them available
<br />to Holder at a place to be designated by Holder which is reasonably convenient to Grantor and Holder.
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<br />(h) After notification, if any, as hereafter provided in this subsection, Holder may sell, lease,
<br />or otherwise dispose of (herein, a "disposition"), at the office of Holder, or on the Land, or elsewhere, as
<br />chosen by Holder, all or any part of the Accessories, in their then condition, or following any
<br />commercially reasonable preparation or processing, and each such disposition may be as a unit or in
<br />parcels, by public or private proceedings, and by way of one or more contracts, and, at any such
<br />disposition, it shall not be necessary to exhibit any of the Accessories being so disposed. Any such
<br />disposition of any part of the Accessories shall not exhaust Holder's power of disposition, but
<br />dispositions may be made from time to time until the Obligation is paid and performed in full. Grantor
<br />hereby agrees that a disclaimer of warranties in a foreclosure sale or disposition does not render the sale
<br />or disposition commercially unreasonable. Reasonable notifIcation of the time and place of any public
<br />disposition hereunder, or reasonable notification of the time after which any private disposition hereunder
<br />is to be made, shall be sent to Grantor and to any other person entitled to notice under the UCC. It is
<br />agreed that notice sent or given not less that fIve (5) calendar days prior to the taking of the action to
<br />which the notice relates, is reasonable notification and notice for the purposes of this subsection.
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<br />CITY OF SAN MARcos-JQH DEED OF TRUST
<br />779100.6
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<br />6
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