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conclusive proof of their truthfulness and the grantee in any such reconveyance may be described "as the person or persons legally entitled thereto." When the Property has been fully reconveyed, the last such reconveyance shall operate as a reassignment of all of the rents, royalties, issues, accounts and profits of the Property to the person or persons legally entitled thereto unless such reconveyance expressly provides to the contrary. 5.7 Events of Default. Any one or more of the following events shall constitute a default under this Deed of Trust: (a) failure of the Borrower and /or the City to pay the indebtedness secured hereby or any installment thereof, whether principal, interest or otherwise, when and as the same become due and payable, whether at maturity or by acceleration or otherwise; or (b) failure of Borrower and /or the City to observe or to perform any covenant, condition or agreement to be observed or performed by Borrower and /or the City pursuant to the Secured Obligations; or (c) the occurrence of any event which, under the terms of the Secured Obligations, shall entitle the Agency to exercise the rights or remedies thereunder. 5.8 Acceleration and Sale. (a) Acceleration. In the event of any default, as set forth in paragraph 5.7 above, the Agency may declare all sums hereby secured immediately due and payable by notice thereof to the Borrower and the City or by executing and recording or by causing the Trustee to execute and record a notice of default and election to cause the Property to be sold to satisfy the obligations secured hereby or by the commencement of an appropriate action to foreclose this Deed of Trust or by any other appropriate manner; (b) Sale. After delivery to Trustee of a notice of default and demand for sale and after the expiration of such time and the giving of such notice of default and sale as may then be required by law, Trustee shall sell the Property at the time and place of sale fixed by it in said notice of sale, either as a whole or in separate parcels and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States of America, payable at time of sale. Trustee may postpone sale of all or any portion of the Property by public announcement at such time and place of sale and from time to time thereafter may postpone such sale by public announcement at the time and place fixed by the preceding postponement. Any person, including Borrower, the City, Trustee or the Agency, may purchase at such sale. Upon such sale by Trustee it shall deliver to such purchaser its deed conveying the Property so sold, but without any covenant or warranty expressed or implied. CHFA 52P(RIDGE VIEW /SECOND) -7- 12/19/89 Q02253