87107406 - Laserfiche WebLink

Browse

10'740R r 87- mine. Upon request of Beneficiary, Trustor shall assemble and make available to Beneficiary any of the Trust Property which has been removed. The entering upon and taking posses- sion of the Trust Property, the collection of any rents, issues and profits, and the application thereof as aforesaid, shall not cure or waive any default theretofore or thereafter occurring, or affect any notice af default or notice of sale hereunder or invalidate any act done pursuant to any such notice. Notwithstanding Beneficiary's continuance in posses- sion or receipt and application of rents, issues or profits, Beneficiary shall be entitled to exercise every right pro- vided for in this Deed of Trust or by law upon or after the occurrence of an Event of Default, including the right to exercise the power of sale. Any of the actions referred to in this paragraph may be taken by Beneficiary at such time as Beneficiary may determine without regard to the adequacy of any security for the indebtedness secured hereby. (b) Beneficiary shall, without regard to the adequacy of any security for the Indebtedness secured hereby, be entitled to the appointment of a receiver by any court having jurisdic- tion, without notice, to take possession of, protect, and manage the Trust Property and operate the same and collect the rents, issues and profits therefrom. (c) Beneficiary may bring any action in any court of competent jurisdiction to foreclose thi s Deed of Trust or enforce any of the covenants hereof. (d) Beneficiary may elect to cause the Trust Property or any part thereof to be sold under the power of sale, and in su::h event, Beneficiary or Trustee shall give such notice of default and notice of sale as may be then required by law. Thereafter, upon the expiration of such time and the giving of such notice of sale as may then be required by law, Trustee, at the time and place speci fied by the not ice of sale, shall sell such Trust Property, or any part thereof specified by Beneficiary, at public auction to the highest bidder for cash in lawful money of the United States of America. Upon receipt of payment of the price bid, Trustee shall apply the proceeds in the following order: (i) to the cost and expenses of exercising the power of sale and of the sale, including but not limited to, trustee's fees or not more than $500.00 plus one-half of one percent of the gross sale pricf" and reasonable attorney fees, (ii) to the Indebtedness, and (iii) the excess, if any, to the person or persons legally entitled thereto. All costs and expenses incurred by Beneficiary in enforcing any right under this Deed of Trust, including without limitation, abstract or title fees, appraisal fees, premiums for title insurance, attorney fees and court costs, shall be and constitute Indebtedness secured hereby. 27. Duties of Trustee. Trustor agrees that: (a) Duties and obligation of Trustee shall be determined solely by the express provisions of this Deed of Trust and Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth herein, and no implied covenants or obligations shall be imposed upon Trustee, L (b) No provision of this Deed of Trust shall require Trustee to expend or risk its own funds, or otherwise incur any finan- cial obligation in the performance of any of its duties here- under, or in the exercise of any of its rights or powers. -9- -:...::- ii ~-, .,;, -~ '~~ fl ~ ,'!i ..~ i , ~ r-- j 1 ;j ~.