200602516 - Laserfiche WebLink

Browse

. . . .... .. 200602516 haviug beeu given ae requi~ed by law, TRUSTEE, without demand On TRUSTOR, shali sell said property on the date and at the time and place designated in said Notice of Sale, at public auction to the highest bidder, the purchase price payable in lawful money ot the United States at the time of sale, The pereon conducting the sale ma}", for any cause he deems ~~edient, postpone the sale from time to time until it shall be completed and in every euch case, notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the eale; provided, if the sale is postponed for longer than one (1) day beyond the da.y designated 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 purchasa~ a Deed conveying said property sO sold, but without any covenant or warranty, express or implied. The recitals in the need of any matters or facts shall be conclusive proof ot the truthfulness thereof. Any person, including IlENEFICIARU:S, may purchase at the sale. TRUSTOR h@reby covenants to warrane and defend the title of the above property to the purchaaer 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 following order of priority: (1-) TO the COBt and expenee of exerciBing the power of s."le and of the sale, including attorney fees, evidence of title and other sale expenseS, and a trustee I s fee not to exceed TWO percent (2%) of the gross sale price; (2) To the payment of the obligation secured by this Deed of Trust and Trust Deed Note; (3) To the payment of junior Trust Deeds, mortgages or other lienholders; (4) The balance, if any, to the person or persous 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 option to foreclose this Deed of Trust in the manner provided by law for foreclo~ures of mortgages on real property. F. BENEFICIARIES may from time to time substitute a successor or successors to any TRUSTEE named herein or actiIlg hereuIlder. upon such appointment, and without conveyance to the successor TRUSTEE, the latter shall be vested with all title, powers and duties confer~ed upon any TRUSTEE herein nam@d o~ acting hereun~er. Each such appointment and suhstitutiou shall be made by written instrument and executed );)y BENEFICIARIES, containing reference to this Deed of Trust and its place of record, which, when recorded in the oftlce of the Register of Deeds of the county or counties in Which said property is situated, shall be conclusive p~oof of proper appointment of the successor TRUSTEE. The foregoing power of substitution apd the prooedure therefore shall not be exclu~ive of the power and procedure provided for by law for the substitution of a TRUSTEE in the place of the TRUSTEE named herein. G, TRUSTOR covenant!! and ag~ees that upon any attempted conveyance. assignment, pledge or transfer of any of her interest in the premises during the term of th'" loan seoured hereby, the BENEFICIARIES shall have the option of declaring the unpaid halance immediately due and payable, and if said sum remains unpaid for Ten (10) days thereafte~, BENEFICIARIES can cause Notice of Default to he givep and the premise6 be sold as provided berein. H. k; additional and collateral security for the loan, and effective forthwith upon filing of a Notice of Default, thie instrument shall -3-