Common use of Collection Upon Default Clause in Contracts

Collection Upon Default. Upon the occurrence of an event of default under this Deed of Trust, and as long as any such event of default exists, Trustor's license to collect the rents and profits shall terminate, and Beneficiary shall have the right, at any time without notice, either in person, by agent or by a receiver appointed by a court, and without regard to the value of the Mortgaged Property or the adequacy of the security for the indebtedness or obligations secured hereby, to enter upon and take possession of the Mortgaged Property, or any part thereof, in its own name s▇▇ for or otherwise collect the rents and profits, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection, including attorneys' fees, upon any indebtedness secured hereby, and in such order as