|
A
<br />14
<br />0037323
<br />Is sold f47' 7
<br />7 ans' "
<br />ma 1-n. aec_are
<br />a'l sum,
<br />due �is 'lee' If :n�st amnediatel,
<br />and a`b - E and P�-Iceez
<br />:�e remedies :nl
<br />here in 7rcvisians contained
<br />1 Z-ents of Default - An, of r,
<br />- ne o I , cw" rig events hall be an
<br />.eeme, event
<br />ka) :rust-r shall have zaile ': �nt If default hereunder:
<br />d make pzvnetl�, of any 4 tMent If interest,
<br />-,r in z -Msral,
<br />p �Pal t,
<br />-or primciza! and interest o, an, -ther sums secured hereltv v-.-- due-,
<br />;b) 7`here has occurred a breach of cr ciefz,Ll-t under an,
<br />agreement, condition, rrov4 _"'an"
<br />. �si0r, representation or 'arrant,
<br />contained in this Deed
<br />of Trust, the note or an, other loan
<br />inStTaM-ent secured hereb,;
<br />(c) ;Here -as been a default by the 1rustor 3
<br />tile paten, _rl nt of anv prior or
<br />subsequent lien or emcumbrance in respect
<br />to all --r w., ,,art of the roperr,;
<br />(d) Trust Pr shall file a o1_aht3,, Pet in bankrurtc, or shall be adjudi-
<br />cated bankrupt
<br />or insolvent, or sh& make an assignme-,- for the cenefj-�
<br />in respect
<br />to the :_Operrr; or a a
<br />n Ct'Du to enforce am Iler. or encumbrance
<br />or Jude-
<br />ments against t�& PrOP rtv is commenced-
<br />e
<br />Acceleration Default. In -the event an
<br />securez Bene�`fc�ar` 'nav �sclaTe all' indebtedness
<br />!Ere-`� to -,he due
<br />and na-,able, and the same Shah ,
<br />Presentt,=!, demand, pi o�test or kind. n z2 Talarle vithaut cl�nv
<br />,
<br />,at:ice of an
<br />- - Thereafter_, Beneficiary mar• -
<br />(a) either it person or agent,
<br />ceadins �rinpizlg an%- action 17
<br />;. or Pro-
<br />anY securir,, ter upon appointed a court and w'thOut rc,-a_-d to tae adequac, of
<br />and take
<br />possession of the prcperty, or an, art thereof,
<br />in its ,.m name in the �the
<br />name Pf 71U�
<br />steE, and dcl any acts w;Z n it deers necessary'
<br />and desirable
<br />:o tres cr
<br />,erve the value, marketa�.,iI4 rentablllit of the
<br />property-, or
<br />Part thereof P�, i=erest t1lerein, increase the income therefrom or p
<br />'IETecf
<br />and, it,ut taking possession of the -ro err,, Protect :he s
<br />P "nr
<br />_sue or otherwise collect the
<br />rents, issues -.c rrIfits thereof, !ncl- d"c _,asr
<br />those due and unpaid, and appl, the
<br />same, less costs and
<br />expenses of er.ti . and collecticn 47.cl.aAi _ev u
<br />- _n, aztr_ tees, n an
<br />an' indebtedness Secured herehl,
<br />all in sucn
<br />entering ner as Benefi_-jar, may determine. The
<br />upon and taking possession f tc i_T_d_q,, estate. __:e �, -
<br />i lectiCin
<br />.. -
<br />issues and p-,of�_ts and c- s-cn rents,
<br />3' licit tnereof as
<br />1
<br />af 21 -ot cure or waive an, de-
<br />fault or notice of default hereunder "
<br />4hralidate
<br />or cirn. ac z an a in res'Onse to such de-
<br />-aull or Pursuant t, such notice of default
<br />and.
<br />possession of the property or the
<br />collection, receipt and ar, cari yehts, issues
<br />c! - Irofifs, Trustee or Beneflfcian-
<br />nzav oe entJ
<br />Jtled tc� exercise evet- - -. izhi �r�videe for
<br />in anv of the 'can 4nstT=e=s _-_
<br />or law anon
<br />c i ddJ no olcurrelj�e of an-� even, o. default,
<br />the right
<br />to exercise the Power of sale';
<br />commence an action to fcreclse this Deed Df !rust as a mcrti
<br />gage, apnoint
<br />a receiver, 'r specificall, -
<br />enrotce ant' Of
<br />stQ, z r n 6.c-"cl-at�nn I� default and demand for sale.
<br />and W7jtt&-_. ritize
<br />c. an,. election
<br />-1 -c cause 7rustor's 4-terest in the properzl�
<br />Am oc scld, whict,
<br />notice Trustee shall cause a �e dui, f�-
<br />_"e- oT tec*cr in the
<br />of the
<br />clilnt'�' in -'i-ich the
<br />g"
<br />rc ore b,- T', "er Sale. Snol,:d Renefic4ary elect to
<br />rec se D-� power
<br />cf sale nerein -0--tain'd. Bcnezi __r, wall
<br />c,p � - Trustee deposit
<br />and sh 11
<br />-,a wit" Trustee this Deed of
<br />and -he note and such 7ecejpts and evade -1 ce of expenditures
<br />made ars
<br />S&C-=ed hereb-� as "Tustee -ia
<br />riav require, anli :,,on request If the Ban -rus:ce
<br />MR
<br />!nv
<br />snal-, file for reclr-_;� -n t:ze _Rezlseer Df Deeds dice it, ti
<br />'le CO= V, her the 7--peTI, J -,ocated.
<br />a rItice of _Ae�a,
<br />name o� -ne Tr It. �crti the
<br />T—k and '-'age Dcci=ent
<br />N*c. c f .. is Deed cif 7rUS7 a -eC.-dei in Said
<br />Register of Dee =ice tne lega, description
<br />o� t-.e real estate and that a breac'
<br />'f an o�_iFatloh- fOT 1-Mich aid 1ta:o
<br />L. was cor,e� as securit-j. has ccur-ej, and settis& foi;zh
<br />e nature of _,ut� ,reac, anc the -rustee's jcti_
<br />_ � , • r, lell -ne real estate to sas�, tz�
<br />Wit after he lase f nt ne Obligation;
<br />es, let, "ne �2� mont-, the -ruszee shall viVe u
<br />11 -ritren notice of be time
<br />and -,lace Cf SaIE Wnih
<br />mal_�
<br />1
<br />,E hctwe&rl Q:,'f) a.m. and 5 �_r. at t��e Premises, or at the Courtho�use in
<br />-le
<br />. ,unt, wherein F, Is
<br />uch PrOnert- located, desc71h7
<br />tlon' said not"e tr, -is - -ng tne 7rvrerr, to be sold '�.v its legal descrip-
<br />ni%__hed In
<br />a ne's,
<br />nro?ertv is nn e-- -leek fIr f c'u a 4h ti ' e Count' ,n.rein Such
<br />ter da-, . lv--' -s, -9, 'Ine has t nobi i Ca'10-, to be least
<br />at
<br />n,: "t mor'. rn,ll tn:rt` a,
<br />G 7-ric- to sa--e, and the 7rte. Shall then
<br />said 7ropert, at the
<br />ta design sell
<br />me an' �lace ated In -,e n_tic, the manner Provided 1-
<br />at tnw- time Of —ina sald ", in effect
<br />at ,u ,_c ductior - t"Ile -
<br />to Such pu7ctlaer a deed *.,, the "Toperty h4dder for cash and shall deliver
<br />o1c. corls�,sln: ith the 7aw in effect at the time.
<br />rece,*Pt of the lriz,: b4d. - i
<br />Trust �ha_12 Il"Ver " tile
<br />P,-I;1ertY sold. Jr. the 7- purchase, Trustee's leed
<br />us* s dee� the
<br />E., i's
<br />r,7JMa facie evidence of the truth of the state-
<br />ments made .lerein. Irus stall. aPP, the
<br />1, proceeds If t-le sale in tile fo'lo,ing
<br />� w _ order: (a, to all
<br />reasonable costs and ertiense, t,�e
<br />of sale. including not ljmited to,
<br />--han Z the Trustee's fees of not more
<br />grIss sale - -reas,
<br />rice, %
<br />,ab2e a fees, a, d, cos , f
<br />Sums secured h, this Deed Ira-'- ts o title evidence. (b) to
<br />o� all
<br />and tc , Lite exc's" ah', to tile person or persons 1
<br />4n,lti'lina
<br />;,onefi"Jar, • ma, . 7,urclui,e -laid property at said
<br />Tile persan conductjnr tza t.al- ma-,, Ir a;; .a', hc
<br />or Inn deems exPedlent, postpone the ale f7O ^T.
<br />to Lim, until it lhal! "e ln=-Illel and. in
<br />. ': ",-!
<br />1v public nec-larwion t� case- notice of Postpunement
<br />'1e shall ,, Over,
<br />-ri:" I)v sch
<br />Terson at t1m, and Flace last avpc,intec ; !it-
<br />vided. if 'alle IS �'r t
<br />-ne-'i t!cin �_ay b,,nd the date cl,,j .n
<br />sale, nDtice t�.ereoi
<br />liven �ri th, c tnv notice
<br />am' 7,an-l� - Es the orlglhal nctice
<br />of sale. Reatales Not ExclusilVY
<br />*-'rustte
<br />. and and each of t,
<br />force pay'aWnta_nd wm, shall be entitled
<br />of ar' J-dc htedness or c,r,'ig,atinn secured heTel, and to exercise
<br />'Ind P' u`ljer tnis 1a`vd "t "rus` rights
<br />or uoa-�7 -711 Instrument or ther agreement or an" law.
<br />+s eater an '1
<br />foTcej. �twitllntaGdJ
<br />w or
<br />,hF scia or all of the Jdebteds
<br />e ess 11cat tons �vcu_
<br />may -, r ee hereby
<br />ment or Dtherwise. Ne" 7, 7 zal�, 7 t '�nl as.Jgn-
<br />aceptiuwc this -,T.js.t no. it, w1wther b,
<br />a,�tlpu r,r ;,ursywt to tae
<br />p-,T of Sa7c 'r "t-La,r court
<br />m herein co 2a1 - anner alfect lru,tee,q PT �J ad I
<br />,r r in an,
<br />r Y'ht '"IJzi, LiVu?, or nfur
<br />lrqe� cr 5vf he _
<br />1,� an, , I �' ."_ rlt, here-
<br />aj:reed "at 'r
<br />.hal e=ltl -d t��, 4 ""I and h1T,04,larv, and a(h of -hun,
<br />or lrustec In 5�!, �,Ts 'n Jt, the Reno-
<br />'7 atl c: s_ ii
<br />deterzint. rem,. , ,,T,,. It s4 ret 1 i,n
<br />A T I I
<br />t-da t T
<br />r's
<br />
|