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201300074
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Last modified
12/31/2013 10:45:42 AM
Creation date
1/4/2013 2:32:31 PM
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DEEDS
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201300074
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201300074 <br /> (d) Nothing in this Section 5.07 shall be construed to be an assumption by the <br /> Person exercising the rights under this Section, or to otherwise make such Person liable for the <br /> performance, of any of the obligations of Trustor under the Leases. <br /> SECTION 5.08. Sales. Except as otherwise provided herein,to the extent permitted <br /> under applicable law,at the election of Beneficiary,the following provisions shall apply to any sale <br /> of the Mortgaged Property hereunder, whether made pursuant to the power of sale hereunder, any <br /> judicial proceeding, or any judgment or decree of foreclosure or sale or otherwise: <br /> (a) Beneficiary or Trustee or the court officer(as the case may be as the Person <br /> conducting any sale)may conduct any number of sales as Beneficiary may direct from time to time. <br /> The power of sale hereunder or with respect hereto shall not be exhausted by any sale as to any part <br /> or parcel of the Mortgaged Property which is not sold, unless and until the Obligations shall have <br /> been paid in full, and shall not be exhausted or impaired by any sale which is not completed or is <br /> defective. A sale may be as a whole or in part or parcels and Trustor hereby waives its right to direct <br /> the order in which the Mortgaged Property or any part or parcel thereof is sold. <br /> (b) Any sale may be postponed or adjourned by public announcement at the time <br /> and place appointed for such sale or such postponed or adjourned sale without further notice. <br /> (c) Any statement of fact or other recital made in any instrument given by the <br /> Person conducting any sale as to the nonpayment of any Obligation, the existence of an Event of <br /> Default,the amount of the Obligations due and payable,the request to Beneficiary or Trustee to sell, <br /> the notice of the time,place and terms of sale and of the Mortgaged Property to be sold having been <br /> duly given, or any other act or thing having been duly done or not done by Trustor, Beneficiary, <br /> Trustee, or any other Person, shall be taken as conclusive and binding against all other Persons as <br /> evidence of the truth of the facts so stated or recited. <br /> (d) Any sale shall operate to divest all of the estate,right,title,interest,claim and <br /> demand whatsoever, whether at law or in equity,of Trustor in and to the Mortgaged Property sold, <br /> and(to the extent permitted under applicable law) shall be a perpetual bar both at law and in equity <br /> against Trustor and any and all Persons claiming such Mortgaged Property or any interest therein by, <br /> through or under Trustor. <br /> (e) At any sale,Beneficiary may bid for and acquire the Mortgaged Property sold <br /> and, in lieu of paying cash therefor may make settlement for the purchase price by causing the <br /> Secured Parties to credit against the Obligations. including the expenses of the sale and the cost of <br /> any enforcement proceeding hereunder,the amount of the bid made therefor to the extent necessary <br /> to satisfy such bid. <br /> (f) In the event that Trustor or any Person claiming by,through or under Trustor <br /> shall transfer or fail to surrender possession of the Mortgaged Property after any sale thereof, then <br /> Trustor or such Person shall be deemed tenant at sufferance of the purchaser at such sale, subject to <br /> eviction by means of forcible entry and unlawful detainer proceedings,or subject to any other right <br /> or remedy available, hereunder or under applicable law. <br /> -21- <br />
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