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201200763
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Last modified
3/19/2012 3:42:42 PM
Creation date
1/30/2012 4:35:07 PM
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DEEDS
Inst Number
201200763
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�A�2�0�63 <br />said rent to Beneficiary until further notice. <br />FOURTH. If there shal.l be filed by or against the Trustor an�r <br />petition or proceeding seeking any arrangement or composition or <br />extension of any other relief under or pursuant to the Federal <br />Bankruptcy Code or any other similar statute aa is now or hereafter <br />in effect, or if the Trustor shall be adjudicated bankrupt or <br />insolvent or any of Trustor's property shall have been sequestered <br />and such decree shall have continued undischarged and unstayed for <br />90 days after the entry thereof, then. the whole of the Note and <br />indebtedness hereby secured shall, without notice, at the optian of <br />the BenefiCiary, become due and payable. <br />FIFTH. Upon default by Trustor in the payment ot or perfor- <br />mance of the terms and conditions of the Note, or any renewals, <br />modifications or executions thereof, the payment of any other <br />indebtedne�s secured hereby or in the performance of any agreement, <br />covenant or warranty herein contained or set forth in any agreement <br />or instrument executed by Tru.stor in connectian with the indebted- <br />ness hereby secured, Beneficiary may declare all sums secured <br />hereby immediately due and payable and the same shall thereupon <br />become due and payabl.e without presentment, demand, protest or <br />notice of any kind. Thereafter, Beneficiary may deliver to Trustee <br />a written declaration of default and demand for sale. Trustee <br />sha11, have the power of sale of the Property and if Beneficiary <br />decides the Property is to be sold, it shall deposit with Trustee <br />this Deed of Trust and the Note or notes and any other documents <br />evidencing expenditures secured hereby, and shal]. deliver to <br />Trustee a written notice of default and e].ection to cause the <br />Property to be sold, and Trustee, in turn, shall prepare a similar <br />natiCe in the form required by law, which shall be duly filed for <br />record by Trustee. <br />(a) A�ter the lapse of such time as may be required by law <br />following the recordation of Notice of Default, and notice ot <br />Default and Notice of Sale having been given as required by <br />law, Trustee, without demand on Trustor, shall sell the <br />Property hereinbefore described, and any and every part <br />thereof, in separate parcels or en masse as the Trustee may <br />elect and in such order as Trustee may determine on the date <br />an.d at the time and place designated in said Notice of Sale, <br />at public auction to the highest bidder, the purchase price <br />payable in cash in lawful money of the United States at the <br />time of sale. The person conducting the sale may, for any <br />cause he or she deems expedient, postpone the sale from �ime <br />ta time until it �ha11 be completed and, in every such case, <br />notice of postponement shall be given by public declaration <br />thereof by such person at the time and place last appointed <br />for the sa�.e; provided, if the sale is postponed for longer <br />than one (1) day beyond the day designated in the Notice of <br />Sal.e, notice thereof sha11 be given in the same manner as the <br />original Notice of sale. Trustee shall execute and deliver to <br />the purchaser its Deed conveying the property so sold, but <br />without any covenant or warranty, express or implied. The <br />recitals in the Deed of any matters or facts shall be conclu- <br />sive proof of the truthfulness thereof. Any person, including <br />without limitation, Beneficiary or Trustee may purchase at the <br />sale . Said sale shall be conducted at the real estate for[ning <br />a part ot the Property ar at the court house in the county in <br />which the Property to be sold, or some part thereof, is <br />situated. <br />(b) When Trustee sells pursuant to the powers herein, Trustee <br />shall apply the proceeds of the sale to payment of the costs <br />and expenses of exercising the power of sale and of the sale, <br />inCluding, without l.imitation, the paymen.t of Trustee's fees <br />incurred, which Trustee's fees shall not in the aggregate <br />e�c.ceed the sum of Five Hundred and n.o/100th Dollars t$500.00) <br />plus 1/2 of lo of the amount secured hereby and remaining <br />unpaid an.d then to the items set forth in subparagraph (c) of <br />this paragraph FIFTH in the order therein stated. <br />
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