|
85-- 003729
<br />of expenditures made and secured hereby, as Trustee may require;
<br />and, upon request of the Beneficiary, the Trustee shall file, for
<br />record, in the Register of Deeds office in the County where the
<br />property is located, a notice of default, setting forth the name
<br />of the Trustor, the book and page or document number of this Deed
<br />of Trust, as recorded in said Register of Deeds office; the legal
<br />description of the above- described real estate; and, that a
<br />breach of an obligation, for which said real estate was conveyed
<br />as security, has occurred; and, setting forth the nature of such
<br />breach and the Trustee's election to sell the real estate to
<br />satisfy the obligation; and, after the lapse of not less than one
<br />(1) month, the Trustee shall give written notice of the time and
<br />place of sale which may be between 9:00 a.m. and 5 p.m. at the
<br />Premises, or at the Courthouse in the County wherein such property
<br />is located, describing the property to be sold by its legal
<br />description; said notice to be published in a newspaper of
<br />general circulation in the County wherein such property is
<br />located, once a week for five (5) consecutive weeks, the last
<br />publication to be at least ten (10) days, but not more than
<br />thirty (30) days, prior to the sale; and, the Trustee shall then
<br />sell said property, at the time and place designated in the
<br />notice, in the manner provided by law in effect at the time of
<br />filing said notice, at public auction to the highest bidder, for
<br />cash, and shall deliver to such purchaser a deed to the o_roperty
<br />sold, consistent with the law in effect at the time.
<br />Upon receipt of pa}7ment of the price bid, Trustee shall
<br />deliver to the purchaser Trustee's deed conveying the property
<br />sold. Recitals in the Trustee's deed shall be prima facie evi-
<br />dence of the truth of the statements made therein. Trustee shall
<br />apply the proceeds of the sale in the following order: (a) to
<br />all reasonable costs and expenses of the sale, including, but not
<br />limited to, Trustee's fees of not more than one and one -half
<br />percent (1.5 %) of the gross sale price; reasonable attorney fees;
<br />and, costs of title evidence; (b) to all sums secured by this
<br />Deed of Trust; and, (c) the excess, if any, to the person, or
<br />persons, legally entitled thereto. Any person, including Bene-
<br />ficiary, may purchase said property at said sale.
<br />The person conducting the sale may, for any cause he, or
<br />she, deems expedient, postpone the sale, from time to time, until
<br />it shall be completed; and, in every such case, notice of postpone -
<br />ment shall be given by public declaration thereof by such person
<br />at the time and place last appointed for the sale; provided, if
<br />the sale is postponed for longer than one (1) day beyond the date
<br />designated in the notice of sale, notice thereof shall be given
<br />in the same manner as the original notice of sale.
<br />14. Remedies Not Exclusive. Trustee and Beneficiary, and
<br />each of them, shall e entitled to enforce patent and performance
<br />Of any indebtedness, or obligation secured hereby, and to exercise
<br />all rights and powers under this Deed of Trust, or under any loan
<br />instrument, or other agreement, or any laws now, or hereafter,
<br />enforced, notwithstanding some, or all, of the indebtedness and
<br />obligations secured hereby which may now, or hereafter, be other-
<br />wise secured, whether by mortgage, deed of trust, pledge, lien,
<br />assignment, or otherwise. Neither the acceptance of this Deed of
<br />Trust, nor its enforcement, whether by Court action, or pursuant
<br />to the power of sale, or other powers herein contained, shall
<br />prejudice, or in any manner affect, Trustee's, or Beneficiary's,
<br />right to realize upon, or enforce any otr-�r security, now, or
<br />hereafter, held by Trustee, or Beneficiary; it being agreed that
<br />Trustee and Beneficiary, and each of them, shall be entitled to
<br />enforce this Deed of Trust, and any other security, now, or here-
<br />after, held by the Beneficiary, or Trustee, in such order and
<br />manner as they, or either of them, may in their absolute discre-
<br />tion determine. No remedy herein conferred upon, or reserved to,
<br />Trustee, or Beneficiary, is intended to be exclusive of any other
<br />remedy herein or by law provided, or permitted; but, each shall
<br />be cumulative and shall be in addition to every other remedy
<br />given hereunder, or now, or hereafter, existing at law, or in
<br />equity, or by statute. Every power, or remedy, given by any of
<br />the loan instruments to Trustee, or Beneficiary, or to which
<br />
|