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84000719
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Last modified
11/18/2008 4:39:02 PM
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11/18/2008 4:38:35 PM
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DEEDS
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84000719
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84 --'flG0719 <br />Upon receipt of payment of the price bid, Trustee shall deliver to the <br />purchaser a Trustee's deed conveying the Property sold. The recitals in the Trus- <br />tee's deed shall be prima facie evidence of the truth of the statements made thcre%n <br />and shall operate as conclusive evidence in favor of bona fide pnrchasers and encum- <br />brancers for value without notice. Trustee shall apply the proceeds of sale in the. <br />following order: <br />(a} to the costs and expenses of exercising the power of sale and <br />of the sale, including, but not limited to, Trustee's fees of <br />not more than 1% of the gross sale price, reasonable attorney <br />fees, and costs of title evidence; <br />(b) to the Indebtedness; and <br />{c) the excess, if any, to the person or persons legally entitled <br />thereto. <br />16. Trustor's Right to Reinstate. If Trustor, within one month of Lender's <br />recording of a notfce of default under this Trust Deed, if the power of sale is to be <br />exercised, shall pay to Lender <br />(a} the entire amount then due under the terms of this Trust Deed <br />and under the terms of the Indebtedness secured hereby, other <br />than such portion of the Indebtedness as would not then be due <br />had no default occurred (the demand notes referred to herein- <br />above shall be deemed, for purposes of this Trust Deed and for <br />purposes of Chis Paragraph 16, payable in full for all purposes <br />including reinstatement); <br />(b) the costs and expenses actually incurred by Lender in enforcing <br />the terms of this Trust Deed, including reasonable attorney <br />fees, recording costs and title evidence costs; and <br />(c} the Trustee's fee of $50.00 or one-half of 1~, of the entire <br />then unpaid principal balance, whichever is greater <br />and shall promptly cure all other Events of Default then existing under the terms of <br />this Trust Deed, all proceedings theretofore instituted shall be dismissed and dis- <br />continued, this Trust Deed shall be reinstated and shall be and remain in force and <br />effect as if no acceleration had occurred. Nothing contained herein shall impose <br />upon Lender a duty or obligation to transmit to, or provide Trustor a copy of the <br />notice of default beyond or in addition to that duty or obligation provided by appli- <br />cable law, if any. <br />17. Assignment of Rents; Appointment of Receiver Lender in Possession. As <br />additional security hereunder, Trustor hereby assigns Co Lender the rents of the <br />Property, provided that Trustor shall, prior to acceleration of the maturity of the <br />Indebtedness or Truster's abandonment of the Property, have the right to collect and <br />retain such rents as they become due and payable. <br />Upon acceleration of the maturity of the Indebtedness or abandonment of the <br />Property, Lender, in Berson, by agent az by juditially appointed receiver, shall be <br />entitled Lo enter upon, to take possession of and manage the Property and collect the <br />rents of the Property including those past due. All rents collected by Leader or the <br />receiver shall be applied first to payment of the cost of management of the Property <br />and collection of rents, including, but not limited to, receiver's fees, premiums on <br />receiver's bonds and attorney fees, and then to Indebtedness secured by this Trust <br />Deed. Lender and the receiver shall be liable to account only for those rents actu- <br />ally collected and shall, in na event, be liable or accountable for a failure to <br />procure tenants, to collect teats, to prosecute actions [o recover possession of <br />property ar otherwise for any negligence or mismanagement. <br />1&. Future Advances. Upon request of Rorrawer and without notice to or <br />consent by Trustor, Lender, a[ Lender's option, prior to full reconveyance of the <br />Property by Trustee to Trustor, may make future advances to $orrowex. Such future <br />advaaccu, with .interest thereon, shall be secured by this Trust Deed. A[ no time <br />
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