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S7... 106859 <br />Deed of Trust and all promissory notes and <br />documents evidencing expenditures secured <br />hereby, and shall deliver to TRUSTEE a written <br />Notice of Default and election to cause said <br />property to be sold in the form required by <br />law, which shall be duly filed for record by <br />TRUSTEE. <br />(1) After the lapse of such time as may be <br />required by law, presently being one (1) <br />month following the recordation of said <br />Notice of Default, and Notice of Default <br />and Notice of Sale having been given as <br />required by law, TRUSTEE, without demand <br />on TRUSTORS, shall sell said property on <br />the date and at the time and place <br />designated in said Notice of Sale, at <br />public auction to the highest bidder, the <br />purchase price payable in lawful money of <br />the United States at the time of sale. <br />The person conducting the sale may, for <br />any cause he deems expedient, postpone <br />the sale from time to time until it shall <br />be completed and in every such case, <br />notice of postponement shall be given by <br />public declaration thereof by such person <br />at the time and place last appointed for <br />the sale; provided, if the sale is post- <br />poned for longer than one (1) day beyond <br />the day designated in the Notice of Sale, <br />notice thereof shall be given in the same <br />manner as the original Notice of Sale. <br />TRUSTEE shall execute and deliver to the <br />purchaser his Deed conveying said pro- <br />perty so sold, but without any covenant <br />or warranty, express or implied. The <br />recitals in the Deed of any matters or <br />facts shall be conclusive proof of the <br />truthfulness thereof. Any person, inclu- <br />ding BENEFICIARIES, may purchase at the <br />sale. TRUSTOR hereby covenants to <br />warrant and defend the title of the above <br />property to purchaser at sale. <br />D. When the TRUSTEE sells the trust property <br />pursuant to the powers granted herein, the <br />TRUSTEE shall apply the proceeds from the sale <br />of such property in the following order of <br />priority: <br />(1) To the cost and expense of <br />power of sale and of the <br />attorney fees, evidence <br />other sale expenses, and <br />- 4 - <br />L <br />exercising the <br />sale, including <br />of title and <br />a trustee's fee <br />W <br />