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201405505
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Last modified
11/21/2014 8:56:03 AM
Creation date
9/4/2014 3:34:38 PM
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DEEDS
Inst Number
201405505
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Deeds Act. <br />201405505 <br />20. Foreclosure Using Power of Sale: Should Lender elect to foreclose by exercise of the <br />Power of Sale herein contained, Lender shall notify Trustee and shall deposit with Trustee <br />this DOT and the Note and such receipts and evidence of expenditures made and secured <br />hereby as Trustee may require. <br />a) On receipt of such notice from Lender, Trustee shall cause to be recorded, <br />published and delivered to Borrowers such notice of default as then required by <br />law and by this DOT. Trustee shall, without demand on Borrowers, after such <br />time as may then be required by law and after recording of such notice of default <br />and publishing notice of sale, all as required by law, sell the Property as the time <br />and place of sale fixed by Trustee in such notice of sale, either as a whole or in <br />separate lots, parcels or items as Trustee shall deem expedient, and in such order <br />as Trustee may determine, at public auction to the highest bidder for cash or in <br />lawful money of the United States, or certified or cashier's check, payable at the <br />time of sale; or as otherwise may be provided in the published notice of sale. <br />Trustee shall deliver to such purchaser, or purchasers thereof, Trustee's good and <br />sufficient deed conveying the Property so sold, but without any covenant or <br />warranty, expressed or implied. The recitals in such deed of any matters or facts <br />shall be conclusive proof of the truthfulness thereof. Any person including, <br />without limitation, Borrowers, Trustee or Lender, may purchase at such sale and <br />Borrowers hereby covenants to warrant and defend the title of such purchaser or <br />purchasers; <br />b) As may be permitted by law, after deducting all costs, fees and expenses of <br />Trustee and of this DOT incurred in connection with any such default or sale or <br />foreclosure, or all of them, including costs of evidence of title in connection with <br />a default or sale, a Trustee's fee and an Attorney's fee, as provided by law, or <br />provided by paragraph "22. Trustee's Fee and Attorney's Fee ". Also, any <br />attorney's fees incurred by the Trustee shall be paid, whether such fees were <br />incurred addressing a default or using the Power of Sale. Trustee shall apply the <br />proceeds of sale to payment of: <br />i. All sums expended under the terms hereof not then repaid with <br />accrued interest at the default rate provided in the Note, <br />ii. All other sums then secured hereby, and <br />iii. The remainder, if any, to the person or persons legally entitled thereto; <br />Trustee may, in any manner provided by law, or as referenced in the published <br />notice of sale, postpone sale of any or any portion of the Property. <br />21. Remedies Not Exclusive: No remedy herein conferred upon or reserved to Trustee or <br />7 <br />
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