|
200402503
<br />DOC ID #: 0005452684903004
<br />at the direction of Beneficiary, Trustee will cause to be recorded, published and delivered such notices of default
<br />and notices of sale as may then be required by law and by this Deed of Trust. Trustee will, only at the direction of
<br />Beneficiary and without demand on us, after such time as may then be required by law and after recordation of such
<br />notice of default and after notice of sale having been given as required by law, sell the Premises at the time and
<br />place of sale fixed by it in such notice of sale, either as a whole or in separate lots or parcels or items as Beneficiary
<br />deems expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful
<br />money of the United States payable at the time of sale, or as otherwise may then be required by law. Trustee will
<br />deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the property so sold,
<br />but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be
<br />conclusive proof of the truthfulness thereof. Any person, including without limitation, us, Trustee or Beneficiary,
<br />may purchase at such sale. Trustee may in the manner provided by law postpone sale of all or any portion of the
<br />Premises. The Trustee shall apply the proceeds of the Trustee's sale, first, to the costs and expenses of exercising the
<br />power of sale and of the sale, including the payment of the Trustee's fees actually incurred not to exceed the amount
<br />which may be provided for in the Deed of Trust, second, to the payment of the obligation secured by the Deed of
<br />Trust, third, to the payment of junior deeds of trust, mortgages or other lienholders, and the balance, if any, to the
<br />person or persons legally entitled thereto.
<br />ASSIGNMENT OF RENTS; APPOINTMENT OF RECEIVER: As additional security, we assign to you the rents
<br />of the Premises. You or a receiver appointed by the courts shall be entitled to enter upon, take possession of and
<br />manage the Premises and collect the rents of the Premises including those past due.
<br />WAIVERS: To the extent permitted by applicable law, we waive and release any error or defects in proceedings to
<br />enforce this Deed of Trust and hereby waive the benefit of any present or future laws providing for stay of
<br />execution, extension of time, exemption from attachment, levy and sale and homestead exemption.
<br />BINDING EFFECT: Each of us shall be fully responsible for all of the promises and agreements in this Deed of
<br />Trust. Until the Note has been paid in full and your obligation to make further advances under the Note has been
<br />terminated, the provisions of this Deed of Trust will be binding on us, our legal representatives, our heirs and all
<br />future owners of the Premises. This Deed of Trust is for your benefit and for the benefit of anyone to whom you
<br />may assign it. Upon payment in full of all amounts owing to you under the Note and this Deed of Trust, and
<br />provided any obligation to make further advances under the Note has terminated, this Deed of Trust and your rights
<br />in the Premises shall end.
<br />NOTICE: Except for any notice required under applicable law to be given in another manner, (a) any notice to us
<br />provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by regular first class mail
<br />addressed to us at the last address appearing in your records or at such other address as we may designate by notice
<br />to you as provided herein, and (b) any notice to you shall be given by certified mail, return receipt requested, to
<br />your address at
<br />COUNTRYWIDE HOME LOANS, INC.
<br />4500 Park Granada, Calabasas, CA 91302 -1613
<br />or to such other address as you may designate by notice to us. Any notice provided for in this Deed of Trust shall be
<br />deemed to have been given to us or you when given in the manner designated herein.
<br />REQUEST FOR NOTICE: We, for ourselves and for Beneficiary, hereby request a copy of any notice of default
<br />and a copy of any notice of sale hereunder be mailed to us and Beneficiary at the applicable addresses provided
<br />above.
<br />RELEASE: Upon payment of all sums secured by this Deed of Trust and provided your obligation to make further
<br />advances under the Note has terminated, you shall discharge this Deed of Trust without charge to us, except that we
<br />shall pay any fees for recording of a satisfaction of this Deed of Trust. Upon written request of Beneficiary stating
<br />that all sums secured hereby have been paid and upon surrender of this Deed of Trust and any note to Trustee for
<br />cancellation and retention and upon payment by Beneficiary of Trustee's fees, Trustee shall reconvey to
<br />Beneficiary, or the person or persons legally entitled thereto, without warranty, any portion of the Premises then
<br />held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the
<br />truthfulness thereof. The grantee in any reconveyance may be described as "the person or persons legally entitled
<br />thereto."
<br />TRUSTEE: Trustee accepts the trusts herein created when this Deed of Trust, duly executed and acknowledged, is
<br />made a public record as provided by law. Trustee shall not be liable for any error of judgment or act done by
<br />Trustee, or be otherwise responsible or accountable under any circumstances whatsoever. Trustee shall not be
<br />personally liable in case of entry by it or anyone acting by virtue of the powers herein granted it upon the Deed of
<br />Trust for debts contracted or liability or damages incurred in the management or operation of the Premises. Trustee
<br />shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or
<br />proposed to be taken by it hereunder or believed by it in good faith to be genuine. Trustee shall be entitled to
<br />reimbursement for expenses incurred by it in the performance of its duties hereunder and to reasonable
<br />compensation for such of its services hereunder as shall be rendered. We will, from time to time, pay compensation
<br />due Trustee hereunder and reimburse Trustee for and save and hold it harmless from and against any and all loss,
<br />cost, liability, damage and expense whatsoever incurred by it in the performance of its duties.
<br />• HELOC - NE Deed of Trust m
<br />2C650 -NE (02103) Page 4 of 5 Initials i � l
<br />
|