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2005078'74
<br />(iv) Trustee's Sale. If, on or before the date scheduled for the sale of the Property,
<br />Borrower's Event of Default has not been cured and the Debt has not been reinstated, Trustee, without
<br />demand on Borrower, shall sell the Property at the time and place fixed by Trustee in the notice of sale,
<br />either as a whole or in separate parcels, and in such order as Trustee may determine, at public auction, and
<br />to any Person, including Borrower, Lender or Trustee. The Property shall be sold to the highest bidder for
<br />cash payable at the time of sale. Notwithstanding the foregoing, instead of paying cash for the Property,
<br />Lender may credit the amount of its auction sale bid by the amount of the Debt, or any fraction thereof,
<br />including, without limitation, Trustee's cost and expenses from the sale of the Property. Lender will be
<br />entitled to bid, at any trustee's or foreclosure sale of the Property, the amount of the Environmental
<br />Damages (as hereinafter defined), any costs incurred by Lender with respect to any Environmental Problem
<br />and interest in addition to the amount of other Debt as a credit bid, the equivalent of cash. Furthermore, if a
<br />bid has been made by Lender in the amount of the Debt, other than Debt for Environmental Damages and
<br />any costs incurred by Lender with respect to any Environmental Problem incurred by Lender, any Debt
<br />comprised of the Environmental Damages and any costs incurred by Lender with respect to any
<br />Environmental Problem shall not be discharged by virtue of the full credit bid and shall remain an
<br />obligation of Borrower to be satisfied under this Security Instrument.
<br />(v) Delivery of Deed. Trustee shall deliver to the purchaser of the Property a deed which
<br />conveys title to the Property without any covenant or warranty, express or implied. The recitals in the deed
<br />of any matters or facts shall be conclusive proof of their truthfulness.
<br />(vi) Postponement of Trustee's Sale. Trustee may postpone the sale of all or any portion of
<br />the Property in accordance with California Civil Code §2924g, by public announcement at the time and
<br />place of sale, and from time to time thereafter Trustee may postpone such sale by public announcement at
<br />the time fixed by the preceding postponement or as otherwise allowed by said statute.
<br />(vii) APRlication of Sale Proceeds. The proceeds of Trustee's public auction of the Property
<br />shall be applied in the following manner: (1) payment of the portion of the Debt attributable to the costs
<br />and expenses of the sale; (2) repayment of the portion of the Debt attributable to any sums expended or
<br />advanced by Lender (other than the Environmental Damages and costs incurred by Lender with respect to
<br />any Environmental Problem) under the terms of this Security Instrument, plus interest at the Default Rate;
<br />(3) payment of all other Debt and all other obligations of Borrower secured by this Security Instrument, in
<br />any order that Lender chooses; (4) repayment of the portion of the Debt attributable to the Environmental
<br />Damages and costs incurred by Lender with respect to any Environmental Problem under the terms of this
<br />Security Instrument, plus interest at the Default Rate; and (5) the remainder, if any, to satisfy the
<br />outstanding balance of obligations secured by any junior encumbrances in the order of their priority, then to
<br />Borrower or Borrower's successor in interest.
<br />(viii) Proof of Compliance with the Law. If there is a sale of the Property, or any part of it, and
<br />the execution of a deed for it, the recital of default and of recording notice of breach and election of sale,
<br />and of the elapsing of the required time between the recording and the following notice, and of the sale
<br />should be made, will be conclusive proof of the default, recording, election, elapsing of time, and the due
<br />giving of notice, and that the sale was regularly and validly made on proper demand by Lender. Any deed
<br />with these recitals will be effectual and conclusive against Borrower, its successors, and assigns, and all
<br />other Persons. The receipt for the purchase money recited or in any deed executed to the purchaser will be
<br />sufficient discharge to the purchaser from all obligations to see to the proper application of the purchase
<br />money.
<br />(b) Acceptance by Trustee. Trustee accepts this trust when this Security Instrument, duly executed
<br />and acknowledged, is made a public record as provided by law. Trustee is not obligated to notify any party hereto
<br />of pending sale under any other deed of trust or of any action or proceeding in which Borrower, Lender or Trustee
<br />shall be a party unless brought by Trustee.
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