|
84 _.,_ 002003
<br />upon request of the Aeneficiary, 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 No, of this Deed of
<br />Trust as recorded in said Register of Deeds office, the legal
<br />description of the above-described real estate and that a breach
<br />of an obligation, for which said real estate was conveyed as
<br />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 />k (1) month, the Trustee shall give written notice of the time and
<br />j 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
<br />property is located, describing the property to be sold by its
<br />legal 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 progeny
<br />sold, consistent with the law in effect at the time.
<br />Upon receipt of payment 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 facia 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 3 B of the gross
<br />sale price, reasonable attorney fees and costs of title evidence=
<br />(b) to all sums secured by this Deed of Trust; and (c) the
<br />excess, if env, to the person or persons legally entitled
<br />thereto. Any person, including Beneficiary, may purchase said
<br />property at said sale.
<br />The person conducting the sale may, for any cause he or she
<br />deems expedient, postpone the sale from time to time until it
<br />shall he 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 data
<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 Aeneficiary, and
<br />each of t em, she a entit ed to enforce payment and
<br />performance of any indebtedness or obligation secured hereby and
<br />to exercise all rights and powers under this peed of Trust or
<br />under any loan instrument or other agreement or any laws now or
<br />hereafter enforced, notwithstanding some or all of the indebted-
<br />ness and obligations secured hereby which may now or hereafter be
<br />otherwise secured, whether by mortgage, deed of trust, pledge,
<br />lien, assignment or otherwise. Neither the acceptance of this
<br />Deed of Trust nor its enforcement, whether by court action or
<br />pursuant to the power of sale or other powers herein contained,
<br />shall prejudice or in any manner affect Trustee's or Beneficiary's
<br />right to realize upon or enforce any other security now or here-
<br />after 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 Aeneficiary or Trustee in such order and manner
<br />as they, or either of them, may in their absolute discretion
<br />determine. No remedy herein conferred upon or reserved. to
<br />Trustee or Beneficiary is intended to be exclusive of any other
<br />remedy herein ar by law provided or permi*_ted, but each shall be
<br />cumulative and shall be ir. addition to every other remedy given
<br />hereunder ar now or hereafter existing a*_ law or in equity or by
<br />statute. Every power or remedy given by arv of the loan instru-
<br />ments to firustee or Beneficiary ar to which either of them may he
<br />-~-
<br />
|