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200600864 (1) After the lapae of auch time "a may be required by law (presently being one (J-) month following the recordation of said Notice of Default), Notice of Default and Notice of Sale having been given as required by law, TRUSTEE, ~ithout demand on TRUSTORS, shall aell said property on the date and at the time and pl.ce designated in said Notice of Sale, at public "uction to the highest bidder, t~e purch"se price payable in lawful money of the United States at the time of sale The person conducting the sale may, for any cause he deems expedient, postpone the sale from time to time until it shall be completed and in every such case, notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the sale; provided, if the sale is postponed for longer than one (1) day beyOnd the day desisnated in the Notice of Sale, notice thereof shall be given in the same manner as the original Notice of Sale. TRUSTEE shall execute and deliver to the purchaser hia Deed conveying said property eo 501d, but without any covenant or warranty, exp.ess or implied- The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulnesS thereof- Any person, including :BENEFICIARIES, may purchase at the sale. TRUSTORS hereby covenant to warrant and defend the title Of the above property to the purchaser at sale. D. When the TRUSTEE sells the trust property pursuant to the powers granted herein, the TRUStEE shall apply the proceeds from the sale of such property in the follo~ing order of priority: (l) To the cost and expense of exercising the power of sale and of the sale. inclUding attorney fees, evidence of tide and ot.her sale expenses, and a trustee's fee not to exceed two Percent (2t) of the gross sale price; (2) To the paym~mt of the obligation secured by this :De..d of Trust and Trust Deed Note; (3) To tile payment of junior Trust Deeds, mortgages or other lienholders; (4) The balance, if any, to the person or persons legally entitled thereto. E. upon the occurrence of any default hereunder, BENEFICIARIES shall have, in addition to such other options as may be granted herein, the further optiop to fo.eclose this Deed of Trust in the manner provided by law for foreclosures of mortgages on real property. p_ BENEFICIARIES may trom time to time substitute a successor or euccessors to any TRUSTEE named herein or actins hereunder. Upon such appointmen~, and without conveyance to the successor TRUST~, the latter shall be vested with all title, powers and duties conferred upon any TRUSTEE herein named or acting hereunder. Each such appointment and substitution shall be made by wri~ten instrument and executed by BENEFICIARIES, containing reference to this Deed of Trust and ita place of record, which, when recorded in the of tic.. of the Register of Deeds of the county or counties in Which said property is si~uated, shall be conclusive proof of proper appointment of the successor TRUST!!:E. The foregoing power of substitution and the procedure therefore shall not be exclusive of che power and procedure provided for by law for the substitution of a TRUSTEE in the place of the TRUSTEE named herein- G. TRUSTORS covenant and agree that upon any attempted conveyance, aseigpment, pledge or transfer of apy of their interest: in the premises during the term of the loan secured hereby, the BENEFICIARIES shall have the option of declaring the unpaid balance immediately due and payable, and if ~.id sum remains unpaid for Ten (lO) days thereafter, BENEFICIARIES can cauee Notice of Default to be given and the premises be sold as provided herein. -3-