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201309549
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Last modified
1/1/2014 1:01:27 AM
Creation date
12/9/2013 12:10:10 PM
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DEEDS
Inst Number
201309549
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201309549 <br /> be entitled to the immediate ex parte appointment of a receiver by any court having jurisdiction, <br /> without notice,to take possession of and protect the Trust Property and operate the same and collect <br /> the rents,issues and profits therefrom. <br /> d. The Beneficiary may bring an action in any court of competent jurisdiction to foreclose this Deed of <br /> Trust or to enforce any of the covenants hereof. <br /> e. The Trustee may, and upon the request of Beneficiary shall, elect to cause the Trust Property or any <br /> part thereof to be sold as follows: <br /> (1) The Trustee may proceed as if all of the Trust Property were real property in accordance <br /> with subsection 2.2(e)(4)below, or the Trustee may elect to treat any of the Trust Property <br /> which consists of a right in action or which is property that can be severed from the Land <br /> without causing structural damage thereto as if the same were personal property and dispose <br /> of the same in accordance with subsection 2.2(e)(3)below, separate and apart from the sale <br /> of real property,the remainder of the Trust Property being treated as real property. <br /> (2) The Trustee may cause any such sale or other disposition to be conducted immediately <br /> following the expiration of any grace period, if any, herein provided or provided in the <br /> Loan Agreements, or any other Financing Document secured hereby(or immediately upon <br /> the expiration of any redemption period required by law), or the Trustee may delay any <br /> such sale or other disposition for such period of time as the Trustee deems to be in its best <br /> interest. Should the Trustee desire that more than one such sale or other disposition be <br /> conducted, the Trustee may, at its option, cause the same to be conducted simultaneously, <br /> or successively on the same day, or at such different days or times and in such order as the <br /> Trustee may deem to be in its best interest. <br /> (3) Should the Trustee elect to cause any of the Trust Property to be disposed of as personal <br /> property as permitted in subsection 2.2(e)(1) above, it or Beneficiary may dispose of any <br /> part thereof in any manner now or hereafter permitted by Article 9 of the Uniform <br /> Commercial Code or in accordance with any other remedy provided by law. Both the <br /> Trustor and the Beneficiary shall be eligible to purchase any part or all of such property at <br /> any such disposition. Any such disposition may be either public or private as the Trustee or <br /> the Beneficiary may so elect, subject to the provisions of the Uniform Commercial Code. <br /> The Trustee or the Beneficiary shall give the Trustor at least ten (10) days prior written <br /> notice of the time and place of any public sale or other disposition of such property or of the <br /> time at or after which any private sale or any other intended disposition is made,and if such <br /> notice is sent to the Trustor at the address above set forth, it shall constitute reasonable <br /> notice to the Trustor. <br /> (4) Should the Trustee elect to sell the Trust Property which is real property or which it has <br /> elected to treat as real property, upon such election, the Trustee shall give such notice of <br /> default and its election to sell as may then be required by applicable law. Thereafter, upon <br /> the expiration of such time and the giving of such notice of sale as may then be required by <br /> applicable law, the Trustee, at the time and place specified by such notice of sale, shall sell <br /> such Trust Property, or any portion thereof specified by the Trustee, at public auction to the <br /> highest bidder for cash in lawful money of the United States. The Trustee may, and upon <br /> request of the Beneficiary shall, from time to time, postpone the sale by public <br /> announcement thereof at the time and place noticed therefor. If the Trust Property consists <br /> of several lots or parcels,the Trustee may designate the order in which such lots or parcels <br /> shall be offered for sale or sold. Any person, including the Trustor, the Trustee, or the <br /> Beneficiary may purchase at the sale. Upon any sale, the Trustee shall execute and deliver <br /> to the purchaser or purchasers, a deed or deeds conveying the property so sold, but without <br /> any covenant or warranty whatsoever, express or implied, whereupon such purchaser or <br /> purchasers shall be led into immediate possession. <br />
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