What is the main purpose of a power of sale clause in a deed of trust?

The main purpose of a power of sale clause in a deed of trust is to enable the lender to expedite foreclosure. This clause provides the lender with the authority to sell the property without having to go through the full judicial process in the event of a default by the borrower. By including this clause, the lender can accelerate the sale of the property, which can mitigate losses and recover the outstanding loan amount more quickly. This streamlined process is particularly important for lenders, as it allows them to efficiently manage the risks associated with lending and ensures that they can take action to reclaim the property in a timely manner if the borrower fails to meet their obligations.

The other options pertain to aspects that are more related to borrower protection or loan administration rather than the specific function of a power of sale clause.