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83005521
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Last modified
11/19/2008 8:03:41 PM
Creation date
11/19/2008 8:03:40 PM
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DEEDS
Inst Number
83005521
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<br />83':;;';" 005521 <br /> <br />-4- <br /> <br />11. FORECLOSURE BY POWER OF SALE. Should Benficiary elect to <br />foreclose by exercise of the Power of Sale herein contained, Bene- <br />ficiary shall notify Trustee and shall deposit with Trustee this <br />Deed of Trust and the Note and such receipts and evidence of expend- <br />itures made and secured hereby as Trustee may require. <br /> <br /> <br />(a) Upon receipt of such notice from Beneficiary, Trustee shall <br />cause to be recorded, published and deliver to Trustor such Notice <br />of Default and Notice of Sale as then required by law and by this <br />Deed of Trust. Trustee shall, without demand on Trustor, after such <br />time as may then be required by law and after recordation of such <br />Notice of Default and after Notice of Sale having been given as re- <br />quired by law, sell the Trust Estate at the time and place of sale <br />fixed by it in such Notice of Sale, either as a whol~ or in separate <br />locs or parcels or items as Trustee shall deem expedient, and in <br />such order as it may determine, at public auction to the highest <br />bidder for cash in la\~ful money of the United States payable at the <br />time of sale. Trustee shall deliver to such purchaser or purchasers <br />thereof its good and sufficient deed or deeds conveying the property <br />so sold, but without any covenant or warranty) express or implied. <br />The recitals in such deed of any matters or racts shall be con- <br />clusive proof of the truthfulness thereof. Any person, including, <br />without limitatiop.. Trustor, Trustee, and Beneficiary, may purchase <br />at such sale and ';rustor hereby covenants :::0 warrant and defend the <br />title of such purchaser or purchasers. <br /> <br />(b) As may be permitted by law, after deducting all costs, <br />.lees, expenses of 'irustee and or this Trust J includi~g costs of <br />evidence of title in connection I.ith sale, :rustee shall apply the <br />proceeds or sale to payment of (i) ':'111 SU.llS expended under the terms <br />hereof. not then repaid, with accrued interest at 16 percent <br />per anilUffi, (ii) all other SUI:lS then secur-ed hereby, and (iii) the <br />remainder, if any, to ~he person t)r persons It.=gally entitled thereto. <br /> <br />(e) Trustee, f:1UY 1:1 the nannel'"" provided by Law, postpone sale <br />of all or any portion or che ';rustc~ :::state. <br /> <br />~ ') RE?-iEDIES ~OT EXCL:':SIVE~ -:ru.stee and B2ne::iciarv. and each <br />ot them, ~;hall be t.:ntitlcd to t..~n:o:-ce p3:-~cnt ~lnd performance of <br />anv i:ldebtcdncss or obligations ~ccur~d i:crcbv and to 0xercisc all <br />rights and powers under this Deed of ":'ru::,t or" under any Loan lnstru- <br />;:::ent or other agreement or anv l.aw,!] ~J.0\.J 0:" ~lcreaf:Qr -:,1': force.. ~10C- <br />y.,lithstanding some or .:111 ;,)i the ~;uch i.:1.Gcbtcdness and obligation.s <br />secured hereby may now or hercar":':0T l>0 '''i.:hcn..;ise <.)~curcd) \'W'hcther <br />by mortgage, ~eed'0i trust. ?lcdg~) li0:1, ~lssignrnellt or otherwise. <br />~ci cher the acceptance \Jt this J~~J. "Jf -i'~us C i:or 6. ts enforccr.ii':;llt) <br />whether by court action or pursuant ~o l:be power of sale or other <br />powers llerein contained, shall ~rejudice ,)T in any ~anner aifcct <br />";rustee 1 S Gr Beneficiarv':~ right co ~euliLc upon or enforce any <br />olh~r :.)c(;urity -;:10. Or' hCt"c31ter held by '";"~1r;;t~e or Beneficiarv-, it <br />being agreed that Trustee and Benciiciary, and each or chern, shall <br />De cncicled to enforce :his D~ed of Trust ~nd any other ~ecuri[v now <br />or hereafter held by Beneficiary or '~rustee in s~ch order and ~;nner <br />as they or either Ot them way ~i1 ;:~.::~ir J.bsolute discretion (.~~ter- <br />raine. ~o remedy herein conferred UDon or 'I'cscrvetl co "trustee ()r <br />Beneficiary is intended to be exclu~i~rc of .::~nv other remedy herein <br />or by law provided or permitted, but each .shall be cUI:lulative and <br />s.hall be in addition to eve:"y \)ther remedy giv<~n hereunder or no\v <br />or hereafter existing at Law or in equity' or by statute. Every <br />?ower or remedy given by any or the Loan Instrutients to 7rustce or <br />Beneficiary or to which either of thern rnav be otherwise enticled. <br />may he exercised, concurrently or tndepetldentlvt ~rom t.'i:-,lC i.:O t:i~'lC, <br />and an often as may be deemed expedient: bv Tru;t.ce or uenefici;lry <br />and either of them ~ay pursue inconsisten~ remc,iics. ~othll1); lle~ein <br />shall be construed as prohibitiag Beneficiary from seeking it deii- <br />ciency judg.ment against the Trustor to che extend such action is <br />permitted by law. <br /> <br /> <br />rt~9Ue~'i ($ ,j ~.~ ~Ji)Y _ n .:. /.1\ v <br />'),-).i0 t1.ereun\1~;;r b._~ ;:-.d.L 1\?\~ <br />t'st paragraph. of Lili Dcl..:~~ <br />
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