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84000723
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Last modified
11/18/2008 4:40:26 PM
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11/18/2008 4:40:04 PM
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DEEDS
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84000723
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84 --~iG0723 <br />order as Trustee may detemine. Trustee may postpone sale of all or anp parcel of <br />the Property by public announcement at the time and place of any previously scheduled <br />sale. Lender or Lender's designee may purchase the Property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to tht <br />purchaser a Trustee's deed conveying the Property sold. The recitals in'tde.Stxa~ <br />tee's deed shall be prima facie evidence of the troth of the statements made therein <br />and shall operate as conclusive evidence in favor of bong fide purchasers-and .encur <br />brancers far value without notice. Trustee shall apply the proceeds of sale fn. 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 1X of the gross sale price, reasonable abtornep <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 Truster, within one month-of Lender's <br />recording of a notice 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, outer <br />than such portion of the Indebtedness as would not then be due <br />had uo default occurred (the demand notes referred to herein- <br />above shall be deemed, for purposes of this Trust Deed and for <br />purposes of this Paragraph 16, payable in full for all purposes <br />including reinstatement); <br />(b) the costs and expenses actually incurred by Lander 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 $SO.QO or one-half o£ 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 Lhat duty or obligation provided by appli- <br />cable law, if any. <br />17. Assigns~ent of Rents; AyFoin[ment of Receiver; Lender in Possession. As <br />additional security hereunder, Trustor hereby assigns to Lender the rents of the <br />Property, provided that Trustor shall, prior to acceleration of the maturity of the <br />Indebtedness or Trustor's abandonment of the Property, have the right to collect and <br />retain such rests as they become due and payable. <br />Dpon acceleration of the maturity of the Indebtedness or abandonment of the <br />Property, Lender, in person, by agent or by judicially appointed receiver, shall be <br />entitled to eater 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 Lender or the <br />receiver shall be applied first to payment of the cast of management of the Property <br />and collection of rents, including, but unt 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 Co account only for chose rents actu- <br />ally collected and shall, in no event, be liable or accountable for a failure to <br />procure tenants, to collect rents, to prosecute actions to recover possession of <br />property or otherwise far any negligence ar mismanagement. <br />
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