|
201400400
<br />Trustee's commissions, fees and costs, receivers' fees, court costs, attorneys', accountants',
<br />appraisers', managers' and other professional fees, title charges and transfer taxes.
<br />(ii) To payment of all sums expended by Lender under the terms of any of the Loan
<br />Documents and not yet repaid, together with interest on such sums at the Default Rate.
<br />(iii) To payment of the interest, principal, Prepayment Consideration and all other
<br />obligations secured by this Security Instrument, including, without limitation, interest at the
<br />Default Rate, in any order that Lender chooses in its sole discretion.
<br />(iv) The remainder, if any, of such funds shall be disbursed to Borrower or to the
<br />person or persons legally entitled thereto.
<br />(c) If more than one Deed of Trust Trustee is named herein or later appointed, any Deed of
<br />Trust Trustee may act in the execution of this trust, and in the event a Deed of Trust Trustee shall
<br />act alone, the authority and power of the Deed of Trust Trustee so acting shall be as full and
<br />complete as if the powers and authority granted to all Deed of Trust Trustees herein jointly had
<br />been granted to such Deed of Trust Trustee alone; and Deed of Trust Trustee is hereby
<br />authorized to act by agent or attorney in the execution of this trust. It shall not be necessary for
<br />Deed of Trust Trustee to be present in person at any foreclosure sale hereunder.
<br />(d) It is hereby expressly covenanted and agreed that Lender may, at any time and from time
<br />to time, without notice, appoint and substitute another Deed of Trust Trustee in place of Deed of
<br />Trust Trustee herein named to execute the trust herein created. Upon such appointment, either
<br />with or without a conveyance to said substituted Deed of Trust Trustee by Deed of Trust Trustee
<br />herein named, or by any substituted Deed of Trust Trustee in case the said right of appointment
<br />is exercised more than once, the new and substituted Deed of Trust Trustee in each instance shall
<br />be vested with all the rights, titles, interests, powers, duties and trusts in the premises which are
<br />vested in and conferred upon Deed of Trust Trustee herein named; and such new and substituted
<br />Deed of Trust Trustee shall be considered the successors and assigns of Deed of Trust Trustee
<br />who is named herein within the meaning of this instrument, and substituted in its place and stead.
<br />Each such appointment and substitution shall be evidenced by an instrument in writing which
<br />shall recite the parties to, and the book and page of record of, this Security Instrument, and the
<br />description of the real property herein described, which instrument, executed and acknowledged
<br />by Lender and recorded in the office of the Clerk of the County Commission of the County
<br />wherein the Mortgaged Property is situated, shall be conclusive proof of the proper substitution
<br />and appointment of such successor Deed of Trust Trustee, and notice of such proper substitution
<br />and appointment to all parties in interest.
<br />(e) Upon the completion of any sale or sales made by Deed of Trust Trustee under or by
<br />virtue of this paragraph, Deed of Trust Trustee, or an officer of any court empowered to do so,
<br />shall execute and deliver to the accepted purchaser or purchasers a good and sufficient
<br />instrument, or good and sufficient instruments, conveying, assigning and transferring all estate,
<br />right, title and interest in and to the property and rights sold. Each of Lender and Deed of Trust
<br />Trustee are hereby irrevocably appointed the true and lawful attorney of Borrower, in its name
<br />and stead, to make all necessary conveyances, assignments, transfers and deliveries of the
<br />- 151 -
<br />
|