201304018 - Laserfiche WebLink

Browse

20130 4018 B. The grantee in any reconveyance may be described as "the person or persons entitled thereto ", and the recitals therein of any matters or facts shall be conclusive proof of the truthfulness thereof. C. Upon default by TRUSTOR in the payment of any indebtedness secured hereby or in the performance of any agreement hereunder, BENEFICIARY may declare all sums secured hereby immediately due and payable by delivery to TRUSTEE of written declaration of default. If BENEFICIARY desires said property to be sold, it shall deposit with TRUSTEE this Deed of Trust of all promissory notes and documents evidencing expenditures secured hereby, and shall deliver to TRUSTEE a written notice of default and election to cause said property to be sold in the form required by law, which shall be duly filed for record by TRUSTEE. (1) After the lapse of such time as may be required by law following the recordation of said notice of default, and notice of default and notice of sale having been given as required by law, TRUSTEE, without demand on TRUSTOR, shall sell said property on the date and at the time and place designated in said notice of sale, at public auction to the highest bidder, the purchase price payable in lawful money of the United States at the time of sale. The person conducting the sale may, for any cause he deems expedient, postpone the sale from time to time until it shall be completed and, in every such case, notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the sale; provided, if the sale is postponed for longer then one (1) day beyond the day designated in the notice of sale, notice thereof shall be given in the same manner as the original notice of sale. TRUSTEE shall execute and deliver to the purchaser its Deed conveying said property so sold, but without any covenant or warranty, express or implied. The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including BENEFICIARY, may purchase at the sale. (2) When TRUSTEE sells pursuant to the powers herein, TRUSTEE shall apply the proceeds of the sale first to the payment of the costs and expenses of exercising the power of sale and of the sale, including the payment of TRUSTEE'S fees not to exceed 2% of the gross sale price, plus reasonable attorney fees. (3) After paying the items specified in subparagraph (2) if the sale is by TRUSTEE, or the proper court and other costs of foreclosure and sale if sale is pursuant to judicial foreclosure, the proceeds of sale shall be applied in the order stated to the payment of: (a) Cost of any evidence of title procured in connection with such sale and of any tax on the conveyance; 4