85003417 - Laserfiche WebLink

Browse

85- 00341" express or implied. The recitals in the Peed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including BENEFICIARY, may purchase at the sale. ? (2) When TRUSTEE sells pursuant to the powers herein, TRUSTEE shall apply the proceeds of the sale to Payment of the costs and expenses of exercising the power of sale and of the sale, including the payment of TRUSTEE'S fees actually incurred, which TRUSTEE'S fees shall not in the aggregate exceed the following amounts based upon the amount secured hereby and remaining unpaid: 2.5% of the unpaid balance; and then to the Items in subparagraph (3) in the order there stated. (3) After paying the items specified in subparagraph (2) if the sale is by TRUSTEE, or the proper court and other costs of foreclosure and sale if sale is pursuant to judicial foreclosure, the proceeds of sale shall be applied in the order stated to the payment of: (a) Cost of any evidence of title procured in connection with such sale and of any lax on the conveyance; (b) All sums then secured hereby; (e) The remainder, if any, to the person or Persons legally entitled thereto. D. Upon the occurrence of any default hereunder, BENEFICIARY shall have the option to foreclose this Trust Deed in the manner provided by law for the foreclosure Of mortgages on real property. E. BENEFICIARY may from time to time substitute a successor or successors to any TRUSTEE named. herein or acting hereunder. Upon such appointment, and without convey- ance to the successor TRUSTEE. the latter shall be vested with all title. powers, and duties conferred upon any TRUSTEE herein named or acting hereunder. Each such appointment and substitution shall be made by written instrument and executed by BENEFICIARY, containing reference to this Trust Deed and its place of record, which, when recorded in the office of the Register of Deeds of the county or counties in which said property is situated, shall be conclusive proof of proper appoint- ment of the successor TRUSTEE. The foregoing power Of substitution and the procedure therefor shall not be exclusive of the power and procedure provided for by law for the substitution of a TRUSTEE in the place of the TRUSTEE named herein. F. TRUSTORS covenant and agree that upon any conveyance, assignment or transfer of his interest in the premises during the term of the loan secured hereby. the BENE- FICIARY shall have the option of declaring the unpaid balancs immediately due and payable, and if said sum remains unpaid for fifteen days thereafter, BENEFICIARY can cause Notice of Default to be given and the premises be $old as provided herein. G. As additional and collateral security for the loar. and �(eetive forthwith upon filing of a Notice cf i)efaull, this instrumerit shall serve as an assignment by the R