89102306 - Laserfiche WebLink

Browse

r I . I e. L '^Ott f is sold, transferred or further encumbered without the express or written conaant of Beneficiary. Beaafielary my, at its sole option. declare all sume secured by this tread of Trust to be immediately dwe sad payable and proceed to the remedies available to It under the default provisions contained basses. 11. events *(-Default. Any of the following events shall' be deemed an event of default hereunder: (a) Tnustor "I have failed to sake payment of any lastallsment of interest, principal or principal awl- Interest or any other suss secured hereby when due;. (b) Thar* has occurred a breach of or default under say. term, covenant, agreement. cosdittou. provision. representation or wervasty contained la this Deed of Trust, the note or any other loan instrument secured hereby= (c) There has been a default by the Teustor in the payment of any prior or subsegeaat lien or "cumbrance is respect to all or asy.part of the property; (d) ?motor shall file a voluntary petition Is bankruptcy -or shall be adjudi- cated bankrupt or insolvent. or shall asks an assignment for the benefit of creditors tun respect to the property; or an action to enforce any lien or encumbrance or judg- seats "@last the property is commenced. 12. Acaeneaasiom gpims nafoult. In the event of any default. Beneficiary may declare all indebtedness assewrod hexebZ.to be due and payable, and the sass shell thereupon becom s due and payable without any preaeatm*mt, titewswdq protest or notice of any kind. Thereafter. xeatticlesy say: (a) either In person or by agent, with or without bzfTAf.6rX.snY action or pro- cam"t ,. or by receiver appointed by a court and without rejtaz 4 Y_a _ -Tke: alequiacy of any security, eater upon and take possession of the property„ ast'+rtp Et'M thereof, in its own mesa or in the now of the Trust". and do any actm vi tdi. -: ilC:.d+kass necessary and desirable to prewerve the value, marketability or rentaleikf4,, cr 6W property,•or part thereof or Uteremst therein. Increase the Income therefrom 6T fiF:otect the security r hereof and. without taking possession of the property, sue for or otherwise collect the rents, issues and profits thereof. including those past due and unpaid, and apply the same. lose costs and expenses of operation and collection, including attorney fees. upon any Indebtedness secured hereby, all in such order as lisnaficiary way determine. The entering upon and taking possession of the trust estate. the collection of such rentsp issues and profits and application thereof as aforesaid shall not cure of valve say de- fault or notice of default hereunder or invalidate any act and to response to such de- fault or pursuant to such notice of default and, notwithetsnding the continuance in possession of the property or the collection, receipt and application of rents, issues or profits, Trustee or Beneficiary say be entitled to sxerelse every right provided for In any of the loan instruments or by law upon occurrence of any event of default. in- eluding the right to exercise the point of sale; (b) commence an action to foreclose this Deed oil Trust as a mottgoge, appoint a receiver, or specifically enforce any of the covenants hereof; (c) deliver to Trustee a written declaration of default and demand for sale, and a written notice of default and election to cause Trustoe's interest In the property to be sold. which notice Trustee shall cause to be dull filed for record in the official records of the county is which the property is located. 19. Foreclosure by-Power of Sale. Should Beneficiary elect to foreclose by exercise of the paver of sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee this Used of Trust and the note and :welt receipts and evidence of expenditures made and secured hereby as Trustee may tequtre. and upon xe;lunst of the Beneficiary, the Trustee shall file for record, in the Register of Feeds office in the Ckr4Kty where the property is located, a notice of default. setting forth the names of the T'inQistor, the Zook and F-Pge or Document No. of this deed of Trust as recorded in said register of Oweds offlot: ghee legal description of the above- described real estate and that *breach all as obligattzsc. for Atua said real estate was conveyed as security, has occurred, and sett=ing forth the nature of suwb tre&zk and the Trustee's election to sell the real estate to satisfy Via obligation; and after the ;aped ofmsit less than one (1) month, the Trustee shall give written notice of the time and place of sac %a.uhelah say be between 9:00 a.m. and 5 p.m. at the premises, or at the Csurt%ouse in the County wherein such property is located. deaeribing the property to be sold by its loam descrip- tive, said notice to be published in a newspaper of general circulation in the County wherein such property is located, omc•e week for five (5) consecutive weeks, the last publication to be at least ten (10) days, but not ware than thirty (30) days, prior to, the ■ale,•, and the Trustee *boll then sell sold property at the time and place designated in the notice, in the manner provided by law in effect at the time of filing said notice, at public auction to the highest bidder for cash and shall deliver to such purchaser a dead to the property sold, consistent with chit le+ in effect at the t•lse. Upon receipt; of the price bid. Trustee shall deliver to the purchase, Trustee's deed conveying the property sold. Recitals in the Trustee's deed sholl'be prism facie evidence of the txutrt of the state- ments masds therein. Trustee shall apply the proceeds of the sale in the following orders (a) to all reasonable costs and expenses of the male, including but not limited to. Trustee,* fit *s of not more them A of the gross sale price, reasonable attorney fees and costs of title evidence; (b) to all sum secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally en- titled thereto. Any person, Including Beneficiary. may purchase said property at said sale. The person conducting the sale way. for any cause he or she deems expedient, postpone the note from time to time until it shall be completed and. In every such case, notice of postponement shall be @Ivan by public declaration thereof by such person at the time and place Isst sprointeA. for the sale; pro- vided, it the sale to postponed for longer titan one (1) day beyond the data dealgpsted in the notice of sale, notice thereof shall be given in the ease manner as the original notice of sale. li. remedies Not Exclusive. Trustee and Beneficiary, and each of them, shill be entitled to en- force payment and perfotrmatmne of any indebtedweas oT.e'�ligottou secured hereby and to exerclte all rights and powers under this Sorki, of Trust or under mar tun Matrument or other agreement or atym. fatws now or hereafter anCorced, notwWtssan4kng son* or all ti t1m 144,t redness and oblfgatlopc aetvz: °nsreby which may mro-s or fleftafFtX be 0111::tu4oe eccured, whether Ly mortgage, deed of trulov. }p?io4 e, lien. assign - am; or otherwise. Mebttecr the acceptance of this Deed of Truss nor ito enforeenerz, wt'Aalt,rtr by court a;tt.Un or pursuant to riea power of sale or other powers herein eontainmti, shall prejudice CT. In any a inussr affect Trmtwg v ar. Vanefictarym right to realise upon or ertfi •ce any otner securfey 4iow or hares after held L•y.Trustes or Beneficiary. It being agreed that Trustee and Beneficiary. and eacil of them, shall be envitted to ep:orce this Dmed of Trust and any other security now or hereafter held by the Bene- ftelary or Trustee in ecxch order and manner as they, or either, a.f tbem, may In Otclr absolute discreti a determine. , fHr - remedy fu:%re,Jn conferred upon or rdserved to TtusCee� or Unefhctarq is intendr_d to bas en- eh.musive of sett, other reemdy herein or by law pf vUed or permitted, {east. each shall be cumulactoe= NC shall be in addition to every other remedy givers hereunder or now or hereafter existing at low wlVA? equity or by statute. Lavery power or remedy given by any of the loan instruments to Trustee or Bene- ficiary or to whtet► elthmer of they way he otherwise entitled may be exercised, concurrently or Indepen- dently, from time to time and as often as way be deemed expedient by Trustee orFleneficlary, and either of than say pursue inconsistent remedies. Mousing herein shell be construed as prohibiting Beneficiary from seeking a deficiency judgment agatnit Trustor to the extent such action is permitted by law. 90 €8Ote�g - :- . . F i. yr r.. r F ; I NJ