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76. 001092 _ 2_ kr x. ► 3i
<br /> 14114
<br />�y
<br /> ; MUSTOR covenants and agrees that a failure to make any payment , either principal
<br /> or interest on the note secured hereby when due and payable , or a failure to coin
<br /> �' ply with any of the foregoing covenants and agreements , shall cause the whole
<br /> ritI
<br /> num of money hereby secured to become due and collectible at once at the option
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<br /> t?. . of the BENEFTCTARY, ' and BENEFICIARY shall have the right to cause Notice of
<br /> (jr Default to be given and the premises to be sold as provided herein . .
<br /> It is mutually agreed that :
<br /> ' ( 1 ) At any time and from time to time upon written request of BENEFICIARY ,
<br /> payment of its fees and presentation of this Trust Deed and the note for
<br /> V endorsement ( in case of full reconveyance , for cancellation and retention ) ,
<br /> i' ,, without affecting the liability of any person for the payment of the in -
<br /> `,y . debtedness , TRUSTEE may ( a ) consent to the making of any map or plat of
<br /> (ilr.
<br /> said property ; ( b ) join ih granting any easement or creating any restriction
<br /> ;,%` thereon ; ( c ) join in any subordination or other agreement affecting this
<br /> Trust Deed or the lien or charge thereof ; ( d ) reconvey , without warranty ,
<br /> all or any part of said property .
<br /> ( 2 ) The grantee in any reconveyance may he described as " the person or persons
<br /> '.+. entitled thereto , " and the recitals therein of any matters or facts shall
<br /> be conclusive proof of the truthfulness thereof .
<br /> ( '
<br /> 3 ) Upon default by TRIISTOR in the payment of any indebteiness secured hereby
<br /> .,,° or in the performance of any agreement hereunder , BENEFICIARY may decla - e
<br /> all sums secured hereby immediately due and payable by delivery to TRUSTEE
<br /> a
<br /> r,, of written declaration of default . If BENEFICIARY desires said property to
<br /> ,! be sold , it shall deposit with TRUSTEE this Trust Deed and e ' l promissory
<br /> of
<br /> ; .' notes and documents evidencing expenditures secured hereby , end shall de -
<br /> i liver to TRUSTEE a written notice of default and election to cause said
<br /> ci property co be sold , and the TRUSTEE in turn shall prepare a similar Notice
<br /> ii; in the form required by law , which shall be duly filed for record by Tdt •STEE .
<br /> %t
<br /> {`1 ( al After the lapse of such time as may be required by law following the re-
<br /> 2 cordatton of said .iotice of default , and notice of default and notice of
<br /> ? ; sale having been given as required by law , TRUSTEE , without demand on
<br /> ) : TRUSTOR , shall sell said property of the date and at the time and place
<br /> t• designated designated in said notice of sale , at public auction to the highest bidder ,
<br /> the purchase price payable in lawful money of the United States at the
<br /> , time of sale . The person conducting the sale may , for any cau -: e he deems
<br /> expedient , postpone the sale from time to time until it shall be completed
<br /> 1 and , in every such case , notice of postponement shall be given by public
<br /> ,a declaration thereof by such person at the time and place last appointed
<br /> for the sale ; provided , if the Bale is postponed for longer than one ( I )
<br /> '''vl day beyond the day designated In the notice of sale , notice thereof shall
<br /> 1 be given in the same manner as the original notice of sole . TRUSTEE SHALL
<br /> 5 .1 . execute and deliver to the purchaser tts Deed conveying said property so
<br /> sold , but without any covenant or warran ' y , express or implied . The re -
<br /> rcitals in the Deed of any matters or facts shall be conclusive proof of
<br /> E the truthfulness thereof . Any person , including BENEFICIARY , may purchase
<br /> at the sale .
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<br /> ( b ) When TRUSTEE sells pursuant to the powers herein , TRUSTEE shall apply the
<br /> proceeds of the sale to payments of the costs and expenses of exercising
<br /> r., the power of sale and of the sale , including the payment of TRUSTEE ' S FEES
<br /> actually incurred , which TRUSTEE ' S FEES shall not in the aggregate exceed
<br /> the following amounts based upon the amount secured hereby and remaining
<br /> 'j unpaid ; 5 per centum on the first $ 1 , 000 thereof , . 05 per centum on the
<br /> rS balance thereof ; and then to the items in subparagraph ( c ) in the order
<br /> s there stated .
<br /> .,
<br /> ( c ) After paying the items specified in subparagraph ( b ) if the sale is by
<br /> f3{ TRUSTEE , or the proper court and other costa of foreclosure and sale if
<br /> sale isrsuant to Judicial foreclosure ,osure , the proceeds of sale shall be
<br /> ft
<br /> ; applied in the order stated to the payment of :
<br /> kli ( 1 ) Cost of any evidence of title procured in connection with such sale
<br /> and of any revenue stamps ;
<br /> itIr
<br /> er
<br /> • F ( 2 ) All sums then secured hereby ;
<br /> ' , ( 3 ) The remainder , if any , to the person or persons legally entitled
<br /> i thereto .
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