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8th 07510
<br />In their absolute discretion determine. No remedy herein conferred upon or reserved to
<br />Trustee or Beneficiary is intended to be exclusive of any other remedy herein or by law
<br />provided or permitted, but each shall be cumulative and shall be in addition to every other
<br />remedy given hereunder or now or hereafter existing at law or in equity or by statute. Every
<br />power or remedy provided hereunder this Deed of Trust to Trustee or Beneficiary or to which
<br />either of them may be otherwise entitled, may be exercised, concurrently or independently,
<br />from time to time and as often as may be deemed expedient by Trustee or Beneficiary and either
<br />of them may pursue inconsistent remedies. Nothing herein shall be construed as prohibiting
<br />Beneficiary from seeking a deficiency judgement against the Trustor to the extent such
<br />action is permitted by law.
<br />10. Transfer of the Property; Assumption. If all or any part of the property or any
<br />interest therein is sold, transferred or conveyed by Trustor without Beneficiary's prior
<br />written consent, excluding (a) the creation of a lien of encumbrance subordinate to this
<br />Deed of Trust, (b) the creation of a purchase money security interest for household appliances,
<br />(c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or
<br />(d) the grant of any leasehold interest of three years or less not containing an option to
<br />purchase, Beneficiary may, at Beneficiary's option, declare all the sums secured by this Deed
<br />of Trust to be immediately due and payable, or cause the Trustee to file a notice of default.
<br />Beneficiary shall have waived such option to accelerate if, prior to the sale, transfer or
<br />conveyance, Beneficiary and the person to whom the property is to be sold or transferred
<br />reach agreement in writing that the credit of such person is satisfactory to Beneficiary
<br />and that the interest payable on the sums secured by this Deed of Trust shall be at such
<br />rate as Beneficiary shall request.
<br />11. Acceleration upon Default; Remedies; Sale. Upon default by Trustor in the payment
<br />of or performance of the terms and conditions of the NOTE, or any renewals, modifications or
<br />extensions thereof, or the payment of any other indebtedness secured hereby or in the
<br />performance of any of the convenants or agreements hereunder, Beneficiary may declare all
<br />sums secured hereby immediately due and payable and the same shall thereupon become due and
<br />payable without presentment, demand, protest or notice of any kind. Thereafter, Beneficiary
<br />may deliver to Trustee a written declaration of default and demand for sale. Trustee shall
<br />have the power of sale of the Property and if Beneficiary decides the Property is to be bold
<br />it shall deposit with Trustee this Deed of Trust and the NOTE or Notes and any other documents
<br />evidencing expenditures secured hereby, and shall deliver to Trustee a written notice of
<br />default and election to cause the Property to be sold, and Trustee, in turn, shall prepare
<br />a similar notice in the form required by law which shall be duly filed for record by Trustee.
<br />(a) After the lapse of such time as may be required by law following the recordation of
<br />Notice of Default, and Notice of Default and Notice of Sale having been given as required
<br />by law, Trustee, without demand on Trustor, shall sell the Property in one or more parcels
<br />and in such order as Trustor may determine on the date and at the time and plate designated
<br />in said Notice of Sale, at public auction to the highest bidder, the purchase price payable
<br />in cash in lawful money of the United States at the time of sale. The person conducting the
<br />sale may, for any cause he or she deems expedient, postpone the sale from time to time until
<br />it shall be completed and, in every such case, notice of postponement shall be given by
<br />puclic declaration thereof by such person at the time and place last appointed for the salt.;
<br />provided, if the sale if postponed for longer than one (1) day beyond the day designated in
<br />the Notice of Sale, notice thereof shall be given in the same manner as the original Notice of
<br />Sale. Trustee shall execute and deliver to the purchaser its Deed conveying the Property so
<br />sold, but without any covenant or warranty, express, or implied. The recitals in the Deed of
<br />any matters or facts shall be conclusive proof of the truthfulness thereof. Any person,
<br />including without limitation Beneficiary or Trustee, may purchase at the sale
<br />(b) When Trustee sells pursuant to the powers herein, Trustee shall apply the proceeds of
<br />the sale to payment of the costs and expenses of exercising the power of sale and of the sate,
<br />including, without limitation, the payment of Trustee's Fees incurred, which 'i•rustee's fees
<br />shall not in the aggregate exceed the following amounts based upon the amount secured hereby
<br />and remaining unpaid: 5 perrentum or a minimum t fee plus a percentage on the balance thereof;
<br />and then to the items set forth in subparagraph (c) hereof in the order therein stated.
<br />(c) After paying the items specified in subparagraph (b), if the sale is by Trustee, or
<br />the proper court and other costs of foreclosure and sale if the sale is pursuant to judicial
<br />foreclosure, the proceeds of sale shall be applied in the order stated below to the payment Of
<br />(l) Cost of any evidence of title procured in connection with such sale and of an.
<br />revenue required to be paid;
<br />(2) Attorneys fees;
<br />(3) All sums then secured hereby;
<br />(4) Junior trust deeds, mortgages, or other ItetihoIdt•rs; and
<br />( )) The retnainder, if any, I the perSon or pt rsons Iri;alI\ , n) i,,l ;!„ t •.
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