Common use of Acceleration Upon Default, Additional Remedies Clause in Contracts

Acceleration Upon Default, Additional Remedies. Upon the occurrence of a Default, Beneficiary may, at its option, declare all indebtedness secured hereby to be immediately due and payable without any presentment, demand, protest or notice of any kind. Thereafter Beneficiary may: (a) Either in person or by agent, with or without bringing any action or proceeding, or by a receiver appointed by a court and without regard to the adequacy of its security, enter upon and take possession of the Property or the improvements upon the Property (the “Improvements”), or any part thereof, in its own name or in the name of Trustee, and do any reasonable acts which it deems necessary or desirable to preserve the value, marketability or rentability of any portion of the Trust Estate; (b) Enforce all of the rights and remedies of an assignee for turnover of rents, issues and profits under Section 2938 of the California Civil Code, as such Section may be amended from time to time; (c) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof; (d) Deliver to Trustee a written declaration of default and demand for sale and a written notice of default and election to cause Trustor’s interest in the Trust Estate to be sold, which notice Trustee or Beneficiary shall cause to be duly filed of record in the Official Records of the County in which the Property is located; or (e) Exercise all other rights and remedies provided herein, in any loan document or other document or agreement now or hereafter securing all or any portion of the obligations secured hereby, or by law.