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Willoughby
<br />Deed of Trust, Assignment of Rents, Security Agreement, and Fixture Filing
<br />Loan no. 197694
<br />14
<br />201503758
<br />consolidated sale or disposition to be held or made in connection with judicial proceedings, or by virtue of a
<br />judgment and decree of foreclosure and sale; or through two or more such sales or dispositions; or in any other
<br />manner Beneficiary may deem to be in its best interests (any such sale or disposition, a "Foreclosure Sale "). If it
<br />chooses to have more than one Foreclosure Sale, Beneficiary at its option may cause the Foreclosure Sales to be held
<br />simultaneously or successively, on the same day, or on such different days and at such different times and in such
<br />order as it may deem to be in its best interests. No Foreclosure Sale will terminate or affect the liens of this deed of
<br />trust on any part of the Property which has not been sold, until all of the Secured Obligations have been paid in full.
<br />(j) Additional Rights. In addition to the rights and powers given to Beneficiary under this
<br />deed of trust, Beneficiary shall have all such other rights both in law and equity for collection of the indebtedness
<br />secured hereby as it would have but for this deed of trust.
<br />8.03 Credit Bids. At any Foreclosure Sale, any person, including Trustor or Beneficiary, may bid for
<br />and acquire the Property or any part of it to the extent permitted by then Applicable Law. Instead of paying cash
<br />for that property, Beneficiary may settle for the purchase price by crediting the sales price of the property against
<br />the following obligations:
<br />(1) first, the portion of the Secured Obligations attributable to the expenses of sale, costs of any action and
<br />any other sums for which Trustor is obligated to reimburse Beneficiary; and
<br />(2) second, all other Secured Obligations in any order and proportions as Beneficiary may choose.
<br />8.04 Application of Foreclosure Sale Proceeds. Rents and Other Sums. Beneficiary shall apply the
<br />proceeds of any Foreclosure Sate to pay (or reimburse Beneficiary for payment of) the Secured Obligations in any
<br />order and proportions as Beneficiary may choose, with the surplus, if any, to be paid over to Trustor.
<br />No Liability for Funds Not Received. Beneficiary has no liability for any funds which it does not
<br />8.05
<br />actually receive.
<br />8.06 Request for Notice. Trustor hereby requests that, unless otherwise prescribed by law, a copy of
<br />any notice of default and a copy of any notice of sale pursuant to the nonjudicial foreclosure of this deed of trust
<br />be sent to Trustor at the address specified for notices in accordance with Article 9.
<br />8.07 Waivers.
<br />(a) Trustor waives: (1) any right to require Trustee or Beneficiary to proceed against
<br />Trustor, proceed against or exhaust any security held from Trustor, or pursue any other remedy in Trustee's or
<br />Beneficiary's power to pursue; (2) any defense based on any legal disability of Trustor, any discharge or limitation
<br />of the liability of Trustor to Trustee or Beneficiary, whether consensual or arising by operation of law or any
<br />bankruptcy, reorganization, receivership, insolvency, or debtor - relief proceeding, or from any other cause, or any
<br />claim that Trustor's obligations exceed or are more burdensome than those of Trustor; (3) all presentments,
<br />demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of
<br />acceptance of this deed of trust and of the existence, creation, or incurring of new or additional indebtedness of
<br />Trustor, and demands and notices of every kind; (4) any defense based on or arising out of any defense that
<br />Trustor may have to the payment or performance of the Secured Obligations or any part of it; and (5) until the
<br />Secured Obligations have been paid and performed in full, all rights of subrogation, reimbursement,
<br />indemnification and contribution (contractual, statutory or otherwise), including any claim or right of subrogation
<br />under the Bankruptcy Code (Title 11 of the U.S. Code) or any successor statute, all rights to enforce any remedy
<br />that Trustee or Beneficiary may have against Trustor, and all rights to participate in any security now or later to be
<br />held by Trustee or Beneficiary for the Secured Obligations.
<br />(b) Trustor waives all rights and defenses that Trustor may have because the Secured
<br />Obligations may be secured by real property other than the Property hereby encumbered. This means, among
<br />Rev. 1.7.2015
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