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201500434
<br /> 41 C. Power of Sale. Upon the occurrence of any Event of Default, Beneficiary may
<br /> elect to cause the Trust Property or any part thereof to be sold as follows:
<br /> (a) Beneficiary may deliver to Trustee a written Declaration of Default and Qemand for
<br /> Sale. Trustee shall have the power of sale of the Trust Property and if Beneficiary decides the Trust
<br /> Property is to be sold, it shall deposit with the Trustee this Deed of Trust and the Note or Notes and any
<br /> other documents evidencing expenditures secured hereby, and shall deliver to Trustee a written Notice of
<br /> Default and Election to cause the Trust Property to be sold, and Trustee, in turn, shall prepare a similar
<br /> notice in the form required by law, which shall be duly filed for record by Trustee.
<br /> (b) After the lapse of such time as may be required by law following the recordation of
<br /> Notice of Default, and Notice of Sale having been given as required by law, Trustee, without demand on
<br /> Trustor, shall sell the Trust Property on the date and at the time and place designated in such Notice of
<br /> Sale, at public auction to the highest bidder, the purchase price payable in lawful money of the United
<br /> States at the time of sale. The person conducting the sale may, for any cause he or she deems expedient,
<br /> postpone the sale from time to time until it shall be completed and, in every such case, notice of such
<br /> postponement shall be given by public declaration thereof by such person at the time and place last
<br /> appointed for the sale; provided, if the sale is postponed for longer than one (1) day beyond the day
<br /> designated in the Notice of Sale, notice thereof shall be given in the same manner as the original Notice of
<br /> Sale. Trustee shall execute and deliver to the purchaser its Deed conveying the Trust Property so sold, but
<br /> without any covenant or warranty, express or implied. The Trustee's deed may contain recitais of
<br /> compliance with the requirements of applicable law relating to the exercise of the power of sale and sale of
<br /> property described therein, including recitals concerning any mailing, personal delivery and publication of
<br /> the Notice of Default, any mailing and the publication and posting of Notice of Sale and the conduct of sale,
<br /> and such recitals shall constitute prima facie evidence of such compliance and conclusive evidence thereof
<br /> in favor of bona fide purchasers and encumbrances for value and without notice. The Trustee's deed shall
<br /> operate to convey to the purchaser, without right of redemption, the Trustee's title and all right, title, interest
<br /> and claim of the Franchisee and its successors in interest and of ali persons claiming by, through or under
<br /> them, in and to the property sold, including all such right, title, interest and ciaim in and to such property
<br /> acquired by the Franchisee or his successors in interest subsequent to the execution of this Deed of Trust.
<br /> Any person, including without limitation, Secured Party/Beneficiary, may purchase at the sale.
<br /> (c) The Trustee shall apply proceeds of the Trustee's sale, first, to the costs and
<br /> expenses of exercising the power of sale and of the sale, including the payment of Trustee's fees actually
<br /> incurred, not to exceed three percent of the debt at the time of the Event of Default; second, to the payment
<br /> of the Debt; third, to the payment of junior trust deeds, mortgages or other lienholders; and the balance if
<br /> any, to the person or persons legally entitled thereto.
<br /> 41 D. Request for Notice. Trustor hereby requests that a copy of any Notice of
<br /> Default and a copy of any Notice of Sale hereunder be mailed to each person who is a party hereto at the
<br /> following addresses:
<br /> To Grantor: c/o Ruby Tuesday, Inc.
<br /> 150 West Church Avenue, Maryville, TN 37801
<br /> To Trustee: Ticor Title Insurance Company
<br /> PO Box 26370
<br /> Kansas City, Missouri 64196
<br /> To Secured Party/Beneficiary:
<br /> One Maynard Drive, Suite 2104
<br /> Park Ridge, �lew Jersey 07656
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