|
202404862
<br />secured hereby as Trustee may require, and upon request of the Beneficiary, the Trustee shall file
<br />for record, in the Register of Deeds Office in the County where the property is located, a notice of
<br />default, setting forth the name of the Trustor, the Book and Page or Document No. of this Deed of
<br />Trust as recorded in said Register of Deeds office, the legal description of the above-described real
<br />estate and that a breach of an obligation, for which said real estate was conveyed as security, has
<br />occurred, and setting forth the nature of such breach and the Trustee's election to sell the real estate
<br />to satisfy the obligation; and after the lapse of not less than one (1) month, the Trustee shall give
<br />written notice of the time and place of sale which may be between 9:00 a.m. and 5:00 p.m. at the
<br />premises, or at the Courthouse in the County wherein such property is located, describing the
<br />property to be sold by its legal description, said notice to be published in a newspaper of general
<br />circulation in the County wherein such property is located, once a week for five (5) consecutive
<br />weeks, the last publication to be at least ten (10) days, but not more than thirty (30) days prior to
<br />the sale; and the Trustee shall then sell said property at the time and place designated in the notice,
<br />in the manner provided by law in effect at the time of filing said notice, at public auction to the
<br />highest bidder for cash and shall deliver to such purchaser a deed to the property sold, consistent
<br />with the law in effect at the time.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser, Trustee's
<br />Deed conveying the property sold. Recitals in the Trustee's deed shall be prima facia evidence
<br />of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the
<br />following order: (a) to all reasonable costs and expenses of the sale, including but not limited to,
<br />Trustee's fees of not more than two percent (2%) of the gross sale price, reasonable attorney fees
<br />and costs of title evidence; (b) to all sums secured by this Deed of Trust; and (c) the excess, if any,
<br />to the person or persons legally entitled thereto. Any person, including Beneficiary, may
<br />purchase said property at said sale.
<br />The person conducting the sale may, for any cause he or she deems expedient, postpone
<br />the sale from time to time until it shall be completed and, in every such case, notice of
<br />postponement shall be given by public declaration thereof by such person at the time and place
<br />last appointed for the sale; provided, if the sale is postponed for longer than one (1) day beyond
<br />the date designated in the notice of sale, notice thereof shall be given in the same manner as the
<br />original notice of sale.
<br />13. Remedies Not Exclusive. Trustee and Beneficiary, and each of them, shall be
<br />entitled to enforce payment and performance of any indebtedness or obligation secured hereby and
<br />to exercise all rights and powers under this Deed of Trust or under any loan instrument or other
<br />agreement or any laws now or hereafter enforced, notwithstanding some or all of the indebtedness
<br />and obligations secured hereby which may now or hereafter be otherwise secured, whether by
<br />mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this
<br />Deed of Trust nor its enforcement, whether by court action or pursuant to the power of sale or
<br />other powers herein contained, shall prejudice or in any manner affect Trustee's or Beneficiary's
<br />right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiary,
<br />it being agreed that Trustee and Beneficiary, and each of them, shall be entitled to enforce this
<br />Deed of Trust and any other security now or hereafter held by the Beneficiary or Trustee in such
<br />order and manner as they, or either of them, may in their absolute discretion determine. No
<br />remedy herein conferred upon or reserved to Trustee or Beneficiary is intended to be exclusive of
<br />any other remedy herein or by law provided or permitted, but each shall be cumulative and shall
<br />be in addition to every other remedy given hereunder or now or hereafter existing at law or in
<br />equity or by statute. Every power or remedy given by any of the loan instruments to Trustee or
<br />Beneficiary or to which either of them may be otherwise entitled may be exercised, concurrently
<br />or independently, from time to time, and as often as may be deemed expedient by Trustee or
<br />Beneficiary, and either of them may pursue inconsistent remedies. Nothing herein shall be
<br />construed as prohibiting Beneficiary from seeking a deficiency judgment against Trustor to the
<br />extent such action is permitted by law.
<br />14. Request for Notice. Trustor hereby request a copy of any notice of default and that
<br />any notice of sale hereunder be mailed to Trustor at the address set forth in the first paragraph of
<br />this Deed of Trust.
<br />4
<br />
|