88101042 - Laserfiche WebLink

Browse

88..~u 101042 and wi thout regard to the adequacy of its security, enter upon and take possession of the Trust Estate, or any part thereof, in its own name or in the name of Trustee, and do any acts which it deems necessary or desirable to preserve the value, marketabil- i ty or rentab ili ty of the Trust Estate, or part thereof or interst therein, increase the income therefrom or protect the securi ty hereof and, with or without taking possession of the Trust Estate, sue for or otherwise collect the rents, issues and profits thereof, including those past due and unpaid, and apply the same, less costs and expenses of operation and collection including attorneys' fees, upon any indebtedness secured hereby, all in such order as Beneficiary may determine. The entering upon and taking possession of the Trust Estate, the collection of such rents, issues and profits and the application thereof as aforesaid, shall not cure or waive any defaul t or notice of defaul t hereunder or invalidate any act done in response to such default or pursuant to such notice of default and, notwithstand- ing the continuance in possession of the Trust Estate or the collection, receipt and application of rents, issues or profits, Trustee or Beneficiary shall be entitled to exercise every right provided for in any of the Loan Instruments; or by law upon occurrence of any event of defaul t, including the right to exercise the power of sale; (b) Commence an action to foreclose this Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof; (c) Dp]iver to Trustee a written declaration of default and demand for sale, a written notice of default and election to cause Trustor' 5 interest in the Trust Estate to be sold, which notice Trustee shall cause to be duly filed for record in the appropriate Official Records of the County in which thE: Trust Estate is located. 11 . FORECLOSURE BY POWER OF SALE. Should Beneficiary elect to for-eciose by exercise of the Power of Sale herein contained, Beneficiary shall notify Trustee and shall depos'i t wi1~h Trustee this Deed of Trust and the Note and such receipts and evidence of expenditures made and secured hereby as Trustee may require. (a) Upon receipt of such notice from Beneficiary, Trustee shall cause to be recGrded, published and delivered to Trustor such Notice of Defaul t and Notice of Sale as then required by law and by this Deed of Trust. Trustee shall, without demand on Trustor, after such time as may then be required by law and after recordation of such Notice of Default and after Notice of Sale having been given as required by law, sell the Trust Estate at the time and place of sale fixed by it in such Notice of Sale, either as a whole, or in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the United states payable at the time of sale. Trustee shall deliver to such purchaser or purchasers thereof -4- L ~