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<br />88- 105315 <br /> <br />notice of default and election to cause said property <br />to b~ sold in the form required by law, which shall be <br />duly filed for record by Trustee, <br /> <br />II) After the lapse of such time as may be required by <br />law fOllowing the recordation of said notice of <br />default, and notice of default and notice af sale <br />having been given as required by law. Trustee, <br />without demand on Trustors, shall sell said <br />property on the date and at the time and place <br />designated in said notice of sale, at public <br />auction to the highest bidder, the purchase p.ice <br />payable in lawful monay of the United State at the <br />time of sale. The person conducting the sale may. <br />for any cause he deems expedient, postpone the <br />sale from time to time until it shall be completed <br />and, in every such case, notice of postponement <br />shall be given by public declaration thereof by <br />such person at the time and place last appointed <br />for the sale; provided, if the sale is postponed <br />for longer than one (1) day beyond the day <br />designated in the notice of sale, notice thereof <br />shall be given in the same manner as the original <br />notice of sale. Trustee shall execute and deliver <br />to the purchaser its Deed conveying said property <br />so sold. but without any covenant or warranty, <br />eMpress or impliedw The recital~ in the Deed of <br />any matters or facts shall be conclusive proof of <br />the truthfulness thereof. Any person, including <br />Beneficiaries, may purchase at the sale. <br /> <br />(2) When Trustee sells pursuant to the powers herein, <br />Trustee shall apply the proceedS of the sale to <br />payment of the costs and eMpenses of eMercising <br />the power of sale and of the sale, including the <br />payment of Tru5te&'~ fees actually incurred, which <br />Trustee's fe@s shall not in the aggregate e~ceed <br />the following amounts based upon the amount <br />secured hereby and remaining unpaid: 2.5% per <br />centum on the first .25,000 thereof, 1.5% per <br />centum on the balance thereof; and then to the <br />items in subparagraph (3) in the order there <br />stated. <br /> <br />(3) After paying the items specified in subparagraph <br />(2) if the sale is by Trustee, or the proper court <br />and other costs of foreclosure and sale if sale is <br />pursuant to judicial foreclosure, the proceeds of <br />sale shall be applied in the order stated to the <br />payment of: <br /> <br />(a) Cost of any evidence of title procured in <br />connection with such sale and of any ta~ on <br />the conveyance. <br /> <br />(b) All sums then secured hereby; <br /> <br />Cc) All eNpenses of upkeep, maintenance. and <br />utilities incurred in connection with such <br />sale; <br /> <br />Cd} The remainder, if any, to the person or <br />persons legally entitled there~o. <br /> <br />Ow Upon the occurrence of any default hereunder, <br />Bvneficiaries shall have the option to foreclose this <br />Trust Deed in the m.nner provided by law for the <br />foreclosure of mortgAges on real prop~rty. <br /> <br />E. aenefici.ries may from time to time substitute a <br />succ.ssor or SUCC&5&Ors to .ny Trustee named herein or <br />.cting her~under. Upon such appolntment. and without <br />