99107027 - Laserfiche WebLink

Browse

� �7 �V / o � ~( 11. FORECLOSURE BY POWER OF SALE. Should Beneficiaries elect to foreclose by exercise of the Power of Sale herein contained, Beneficiaries shall notify Trustee and shall deposit with Trustee this Trust Deed and the Note and such receipts and evidence of expenditures made and secured hereby as Trustee may require. a. Upon receipt of such notice from Beneficiaries, Trustee shall cause to be recorded,published and delivered to Trustors such Notice of Default and Notice of Sale as then required by law and by this Trust Deed. Trustee shall, without demand on Trustor, after such time as may then be required by law, sell the Trust Estate at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United States payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof its good and sufficient deed or deeds conveying the property so sold,but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including, without limitation, Trustor, Trustee and Beneficiaries, may purchase at such sale and Trustor hereby covenants to warrant and defend the title of such purchaser or purchasers. b. As may be permitted by law, after deducting all costs, fees and expenses of Trustee and of this Trust, including costs of evidence of title in connection with sale, Trustee shall apply the proceeds of sale to payment of(i) all sums expended under the terms hereof, not then repaid, with accrued interest at sixteen percent (16.00%) per annum, (ii) all other sums then secured hereby, and (iii) the remainder, if any, to the person or persons legally entitled thereto. c. Trustee may in the manner provided by law, postpone sale of all or any portion of the Trust Estate. 12. REMEDIES NOT EXCLUSIVE. Trustee and Beneficiaries, and each of them, shall be entitled to enforce payment and performance of any indebtedness or obligations secured hereby and to exercise all rights and powers under this Trust Deed or under any Loan Instrument or other agreement or any laws now or hereafter in force, notwithstanding some or all of such indebtedness and obligations secured hereby may now or hereafter be otherwise secured, whether by mortgage, deed of trust, pledge, lien, assignment or otherwise. Neither the acceptance of this Trust Deed nor its enforcement whether by court action or pursuant to the power of sale or other powers herein contained,shall prejudice or in any manner affect Trustee's or Beneficiaries' right to realize upon or enforce any other security now or hereafter held by Trustee or Beneficiaries, it being agreed that Trustee and Beneficiaries, and each of them, shall be entitled to enforce this Trust Deed and any other security now or hereafter held by Beneficiaries or Trustee in such order and manner as they or either of them may in their absolute discretion determine. No remedy herein conferred upon or reserved to Trustee or Beneficiaries is intended to be exclusive of any other remedy herein or by law provided or permitted,but each 5