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200505400 in such order as it of BENEFICIARY may determine at public auction to the highest bidder. TRUSTEE may postpone the sale of all or any portion of SUCH PROPERTY by public announcement at the time and place of sale, and from time to time thereafter may postpone the sale by public announcement at the time and place fixed by the preceding postponement. TRUSTEE shall deliver to such purchase its deed conveying the property so sold, but without any covenant or warranty, express or implied. The recital in such deed of any matters of fact or otherwise shall be conclusive proof of the truthfulness thereof. Any person including TRUSTOR, TRUSTEE or BENEFICIARY, may purchase at such sale. TRUSTEE may also sell at any such sale and as part hereof any shares of corporate stock securing the obligation secured hereby, and TRUSTOR waives demand and notice of such sale. (BENEFICIARY at its option may also foreclose on such shares by independent pledge sale, and TRUSTOR waives demand and notice of such sale). After deducting all costs, fees and expenses of TRUSTEE, and of this Trust, including cost of evidence of title in connection with such sale, TRUSTEE shall first apply the proceeds of sale to payment of all sums expended under the terms hereof, not then repaid, with accrued interest at the rate then payable under the note or notes secured hereby, and then to payment of all other sums secured hereby, and if thereafter there be any proceeds remaining, distribute them to the person or persons legally entitled thereto. Substitution of Trustee: That BENEFICIARY may, from time to time, by instrument in writing, substitute a successor or successors to any TRUSTEE named herein or acting hereunder, which instrument, executed and acknowledged by BENEFICIARY and recorded in the office of the register of deeds of the county or counties where SUCH PROPERTY is situated, shall be conclusive proof of proper substitution of such successor TRUSTEE or TRUSTEE's who shall, without conveyances from the TRUSTEE predecessor, succeed to all its title, estate, rights, power and duties. No Waiver by Beneficiary: No waiver by BENEFICIARY of any right under this Deed of Trust shall be effective unless in writing. Waiver by BENEFICIARY of any right granted to BENEFICIARY under this Deed of Trust or of any provision of this Deed of Trust as to any transaction or occurrences shall not be deemed a waiver as to any future transaction or occurrences. By accepting payment of any sum secured hereby after its due date, or by making any payment or performing any act on behalf of MAKER or TRUSTOR that MAKER or TRUSTOR was obligated hereunder, but failed, to make or perform, or by adding any payment so made by BENEFICIARY to the indebtedness secured hereby, BENEFICIARY does not waive its right to require prompt payment when due of all other sums so secured or to require prompt performance of all other acts required hereunder or to declare a default for failure so to pay. Page 9 of 12 #MGWL_265892_3.POC