89100565 - Laserfiche WebLink

Browse

r r 89-- 100565 the sale from time to time until it shall be completed and in every such case, notice of postponement shall be given by public declaration thereof by such person at the time and place, last appointed for the sale; provided, if the sale is postponed for longer than one (1) day beyond the day designated in the Notice of Sale, notice thereof shall be given in the same manner as the original Notice of Sale. TRUSTEE shall execute and deliver to the purchaser his Deed conveying said property so sold, but without any covenant or warranty, express or implied. The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including BENEFICIARY, may purchase at the sale. TRUSTOR hereby covenants to warrant and defend the title of the above property to purchaser at sale. D. When the TRUSTEE sells the trust property pursuant to the powers granted herein, the TRUSTEE shall apply the proceeds from the sale of such property in the following order of priority: E. . F. (1) To the cost and expense of exercising the power of sale and of the sale, including attorney fees, evidence of title and other sale expenses, and a trustee's fee not to exceed three percent (M of the gross sale price; (2) To the payment of the obligation secured by this Deed of Trust and Trust Deed Note; (3) To the payment of junior Trust Deeds, mortgages, or other lienholders; (s) The bslarsc, if any, to the percor.- or persons legally entitled thereto. Upon the occurrence of any default hereunder, BENEFICIARY shall have, in addition to such other options as may be granted herein, the further option to foreclose this Deed of Trust in the manner provided by law for foreclosures of mortgages on ;real property. BENEFICIARY may from time to time substitute a successor or successors to any TRUSTEE named herein or acting herebnder. Upon such appointment, and without conveyance to.the successor TRUSTEE, the latter shall be vested with all title, pourers; and duties conferred upon any TRUSTEE herein named or actird hereunder. Each such appointment and substitution shall } e made by written instrument and executed by BENEFICIARY, containing reference -to this Deed of Trust'. and its plagfe of record, which, when recorded in the office of the Register of Deeds of the county or counties in which sairi-p�operty is situated, shall be conclusive proof of proper appointment of the successor TRUSTEE. The:-. foregoing power of subst f.ti.tion and the procedure therefor'shall not be exclusive of the:.-gower and procedure` provided for=,- by law for the substituti6n: of a TRUSTEE in toe place of the TRUSTEE named herein.,;. G. TRUSTORS covenant and agree that upon any attempted conveyance, assignment, pledge or transfer of any of their interest in the premises during the term of the loan secured hereby, the BENEFICIARY shall have the option of declaring the unpaid balance immediately due and payable, and if said sum remains unpaid for fifteen (15) days thereafter, BENEFICIARY can cause Notice of Default to be given and the premises be sold as provided herein. H. As additional and collateral security for the loan, and effective forthwith upon filing of a Notice of Default, this instrument shall serve as an assignment by the TRUSTORS to the TRUSTEE, of all rents and revenues resulting from the property, and TRUSTEE is authorized to take possession of the property, gent or lease the same on terms he deems best and to collect the rents and revenues and apply the same upon unpaid interest, principal, taxes or insurance premiums or for maintenance and preservation of the premises. - 3 - (