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200004084
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Last modified
10/13/2011 1:38:17 PM
Creation date
10/20/2005 8:29:06 PM
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DEEDS
Inst Number
200004084
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- 13 - 200004084 <br />5.6 Beneficiary as Purchaser. Beneficiary shall have the right to become the purchaser <br />at any sale held by Trustee or substitute or successor or by any receiver or public officer or at any <br />public sale, and any Beneficiary purchasing at any such sale shall have the right to credit upon the <br />amount of the bid made therefor, to the extent necessary to satisfy such bid, the Indebtedness Hereby <br />Secured owing to such Beneficiary, or if such Beneficiary holds less than all of such indebtedness <br />the pro rata part thereof owing to such Beneficiary, accounting to all other Beneficiaries not joining <br />in such bid in cash for the portion of such bid or bids apportionable to such nonbidding Beneficiary <br />or Beneficiaries. <br />ARTICLE 6 <br />Deed of Trust <br />6.1 Security Interest. In order to further secure the payment of the Indebtedness <br />Hereby Secured, and the performance of the obligations, covenants, agreements, warranties, and <br />undertakings of Trustor hereinafter described, Trustor hereby grants to Beneficiary (as hereinafter <br />defined) a security interest in any Personal Property listed on Schedule 3 attached hereto (herein <br />sometimes collectively called the "Collateral "). In addition to its rights hereunder or otherwise, <br />Beneficiary shall have all of the rights of a secured party under the applicable law in the state in <br />which the Premises is located or under the Uniform Commercial Code in force in the State or <br />Commonwealth in which the Premises is located (the "UCC ") or any other state to the extent the <br />same is applicable law. <br />6.2 Uniform Commercial Code. Upon the occurrence of an Event of Default, without <br />limitation of Beneficiary's rights of enforcement with respect to the Collateral or any part thereof in <br />accordance with the procedures for foreclosure of real estate, Beneficiary may exercise its rights of <br />enforcement with respect to the Collateral or any part thereof under the UCC and in conjunction <br />with, in addition to or in substitution for those rights and remedies: <br />(a) Beneficiary may enter upon the Premises to take possession of, assemble <br />and collect the Collateral or to render it unusable. <br />(b) Beneficiary may require Trustor to assemble the Collateral and make it <br />available at a place Beneficiary designates which is mutually convenient to allow Beneficiary <br />to take possession or dispose of the Collateral. <br />(c) Written notice mailed to Trustor as provided herein at least five (5) days <br />prior to the date of public sale of the Collateral or prior to the date after which private sale <br />of the Collateral will be made shall constitute reasonable notice. <br />LEASEHOLD DEED OF TRUST 692960.5 <br />
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