200806031 - Laserfiche WebLink

Browse

200806031 (j) Upon any sale made under or by virtue of this Deed of Trust, whether made under the power of sale herein granted or under or by virtue of judicial proceedings or any judgment or decree of foreclosure and sale, Beneficiary may bid for and acquire the Mortgaged Property or any part thereof and in lieu of paying cash therefor may make settlement for the purchase price by crediting upon the Secured Obligations the net sales price after deducting therefrom, to the extent allowed by applicable law, the expenses of the sale and costs of the action and any other sums which Beneficiary is authorized to deduct under this Deed of Trust. Trustee shall apply the proceeds of any Trustee's sale, first, to the costs and expenses of exercising the power of sale and of the sale, including the payment of Trustee's fees actually incurred (such Trustee's fees not to exceed one and one-half percent (1.5 %) of the outstanding principal amount of the Secured Obligations as of the sale date; second, to the payment of the Secured Obligations, third, to the payment of junior trust deeds, mortgages or other liens, and the balance, if any, to the person or persons legally entitled thereto. (k) Beneficiary shall have all rights, remedies and recourses granted in this Deed of Trust and the Credit Agreement or available at law or equity (including the UCC), which rights: (i) shall be cumulative and concurrent; (ii) may be pursued separately, successively or concurrently against Grantor or others obligated under the Note, this Deed of Trust and the Credit Agreement, or against the Mortgaged Property, or against anyone or more of them, at the sole discretion of Beneficiary; (iii) may be exercised as often as occasion therefore shall arise and exercise or failure to exercise any of them shall not be construed as a waiver or release thereof or of any other right, remedy or recourse; and (iv) are intended to be, and shall be, nonexclusive. No enforcement of any rights, remedies or recourse under the Note, this Deed of Trust and the Credit Agreement or otherwise at law or equity shall be deemed to cure any Event of Default. The remedies provided for in this Deed of Trust may be exercised in any order. 15. Notices. Any and all notices, demands, elections or requests provided for or permitted to be given pursuant to this Deed of Trust shall be given or served as provided in the Credit Agreement. 16. Successors and Assie:ns Bound: Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Beneficiary and Grantor, subject to the provisions of Paralrraph 4 hereof. The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. 17. Governine Law: Severabilitv. THE PROVISIONS OF THIS DEED OF TRUST REGARDING THE CREATION, PERFECTION AND ENFORCEMENT OF THE LIENS AND SECURITY INTERESTS HEREIN GRANTED SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE IN WHICH THE MORTGAGED PROPERTY IS LOCATED. IN ALL OTHER RESPECTS, THIS DEED OF TRUST SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (EXCEPT FOR THE CONFLICT OF LAWS RULES THEREOF, BUT INCLUDING GENERAL OBLIGATIONS LAW SECTIONS 5-1401 AND 5-1402). 18. Dischare:e. This Deed of Trust shall terminate and Beneficiary shall discharge this Deed of Trust, and direct Trustee to reconvey the Mortgaged Property by deed of reconveyance, in connection with any Pennitted Disposition relating to the sale, transfer or other disposition of the Property or when all the Secured 11