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200401753
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Last modified
10/16/2011 12:47:33 PM
Creation date
10/20/2005 11:39:05 PM
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DEEDS
Inst Number
200401753
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4. <br />200401753 <br />11. Foreclosure by Power of Sale. Should Beneficiary elect to <br />foreclose by exercise of the Power of Sale herein contained, <br />Beneficiary shall notify Trustee and shall deposit with Trustee this <br />Deed of Trust and the Note and such receipts and evidence of <br />expenditures made and secured hereby as Trustee may require. <br />(a) Upon receipt of such notice from Beneficiary, Trustee shall <br />cause to be recorded, published, and delivered to Trustor such <br />Notice of Default and Notice of Sale as then required by law and by <br />this Deed of Trust. Trustee shall, without demand on Trustor, after <br />such time as may then be required by law and after recordation of <br />such Notice of Default and after Notice of Sale having been given as <br />required by law, sell the Trust Estate at the time and place of sale <br />fixed by it in such Notice of Sale either as a whole, or in separate lots <br />or parcels or items as Trustee shall deem expedient, and in such <br />order as it may determine, at public auction to the highest bidder for <br />cash in lawful money of the United States payable at the time of sale. <br />Trustee shall deliver to such purchaser or purchasers thereof its good <br />and sufficient deed or deeds conveying the property so sold, but <br />without any covenant or warranty, express or implied. The recitals <br />in such deed of any matters or facts shall be conclusive proof of the <br />truthfulness thereof. Any person, including, without limitation, <br />Trustor, Trustee, or Beneficiary, may purchase at such sale and <br />Trustor hereby covenants to warrant and will defend the title of such <br />purchaser or purchasers. <br />(b) As may be permitted by law, after deducting all costs, fees, <br />and expenses of Trustee and of this Trust, including costs of evidence <br />of title in connection with sale, Trustee shall apply the proceeds of <br />sale to payment of (i) all sums expended under the terms thereof, not <br />then repaid, with accrued interest at the rate of * ** percent ( * * * %) per <br />annum, (ii) all other sums then secured hereby, and (iii) the <br />remainder, if any, to the person or persons legally entitled thereto. <br />(c) Trustee may in the manner provided by law, postpone sale <br />of all or any portion of the Trust Estate. <br />12. Remedies Not Exclusive. Trustee and Beneficiary, and <br />each of them, shall be entitled to enforce payment and performance <br />of any indebtedness or obligations secured hereby and to exercise all <br />rights and powers under this Deed of Trust or under any Loan <br />Instrument or other agreement or any laws now or hereafter in force, <br />notwithstanding some or all of the such indebtedness and obligations <br />secured hereby may now or hereafter be otherwise secured, whether <br />by mortgage, deed of trust, pledge, lien, assignment, or otherwise. <br />Neither the acceptance of this Deed of Trust nor its enforcement <br />whether by court action or pursuant to the power of sale or other <br />power herein contained, shall prejudice or in any manner affect <br />Trustee's or Beneficiary's right to realize upon or enforce any other <br />5 <br />
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