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6 <br />201606826 <br />contained shall be construed as prohibiting Beneficiary from seeking a deficiency <br />judgment against the Trustor to the extent such action is permitted by law. <br />4. Acceleration Upon Default; Remedies; Sale: The sale, assignment, <br />conveyance or other transfer of any interest in the Property or the failure of the Trustor <br />to make any payment or to perform any of the terms and conditions of the Note, or any <br />renewals, modifications or extensions thereof, or the payment of any other <br />indebtedness secured hereby or in the performance of any of the covenants and <br />agreements hereunder or any other Deed of Trust, mortgage or instrument of <br />indebtedness regarding the Property shall be a breach of this agreement and the <br />Beneficiary may declare a default and may declare all sums secured hereby <br />immediately due and payable and the same shall thereupon become due and payable <br />without presentment, demand, protest or notice of any kind. Thereafter, Beneficiary may <br />deliver to Trustee a written declaration of default and demand for sale. Trustor agrees <br />and hereby grants that the Trustee shall have the power of sale of the Property and if <br />the Beneficiary decides that the Property is to be sold he shall deposit with the Trustee <br />this Deed of Trust and the Note or Notes and any other documents evidencing written <br />notice of default and election to cause the Property to be sold, and Trustee in turn shall <br />prepare a similar notice in the form required by law, which shall be duly filed for record <br />by Trustee. <br />(a) After the lapse of such time as may be required by law following the <br />recordation of Notice of Default, and Notice of Default and Notice of Sale having been <br />given as required by law, Trustee, without demand on Trustor, shall sell the Property in <br />one or more parcels and in such order as Trustee may determine on the date and time <br />and place designated in said Notice of Sale, at public auction to the highest bidder, the <br />purchase price payable at the time of the sale. The person conducting the sale may, for <br />any cause he or she deems expedient, postpone the sale from time to time until it shall <br />be completed and, in every such case, notice of postponement shall be given by public <br />declaration thereof by such person at the time and place last appointed for the sale; <br />provided, if the sale is postponed for longer than forty -five (45) days beyond the day <br />designated in the Notice of Sale, notice thereof shall be given in the same manner as <br />the original Notice of Sale. Trustee shall execute and deliver to the purchaser its Deed <br />conveying the Property so sold, but without any covenant or warrant, express or <br />implied. The recitals in the Deed of any matters or facts shall be conclusive proof of the <br />truthfulness thereof. Any person, including without limitation, Beneficiary or Trustee, <br />may purchase at the sale. <br />(b) When the Trustee sells pursuant to the powers herein, the Trustee <br />shall apply the proceeds of the sale to the costs and expenses of exercising this power <br />of sale, including, without limitation, the payment of Trustee's fees incurred, and then to <br />the items in subparagraph (c) in the order there stated. <br />(c) After paying the items specified in subparagraph (b) above, if the <br />