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<br />84- 003540
<br />
<br />r
<br />
<br />withstanding the continuance in possession of
<br />the property or the collection, receipt and
<br />application of rents, issues or profits;
<br />Tri.iste,e -or "Bene'ficia,ty~ may.. -be: ~ertti tl-.ed":-_.-_t-O
<br />exercise every rig'htprovidedforinany of.
<br />the loan instruments or by law upon occur,,:
<br />rence of any event of default, including thee
<br />right to exercise thep:ower ofsede;
<br />
<br />(b)
<br />this Deed
<br />receiver,
<br />covenants
<br />
<br />commence an ac,t'-io.n
<br />of Trust as
<br />or specifically
<br />hereof;
<br />
<br />
<br />(cl deliver to Trustee a written
<br />declaration of default and demand for
<br />and a written notice of default and"
<br />to cause Trustor's interest in the
<br />to be sold, which notice 'frustee
<br />to be duly filed for record in
<br />records of the county in which
<br />is located.
<br />
<br />13. Foreclosure by Power of ,cleo
<br />to foreclose. by exercise of th~-- ..Jo'..-~r of
<br />Bene-f iciary shall notify Trustee and
<br />this Deed of Trust and the note and
<br />expenditures made ~d secured hereby as
<br />upon request of the Beneficiary, the
<br />record, in the Regist~r of- DeedS offic~ in
<br />property is- located, a notice -of' defaul,t,
<br />of the Trustor, the Book and Page or
<br />Trust a's recorded in said ~eqister _of_ Deeds
<br />description of the ahove-(1esc:'ribed r-eal e'-state --and
<br />of an obligation, for ''''hich said real estate
<br />secur i ty / na s occurt'~d, and set-ting .forth _ the
<br />breach and the Trustee I s election to se11 the
<br />satisfy the obli.ga.tion; and aftt~r the lapse. of- do-t le:ss-
<br />{l) month, the Trust(,~e shall qive v.'ritten not.ice-: of, -t_he.
<br />place of sale which may be between 9:00 a.m.:,-and -5 p~~~
<br />premises, 01: at the CourthcJt~_se in -the County whe-r,'ein._.5U_(;h prop"erty_-
<br />is located" desc_X"lbinq the prope,rt.y to be sold, by i-ts.-,-le_g:a,l
<br />description, said notice t~o be publi~;}he-d in a ntaVJspape:r 0.[
<br />general circulation in the County wherein such property if;
<br />located, once a \{eek for five (5) consecutiveweek.s, the lQ.$t
<br />publication to be at least ten [10) days, but .not more than
<br />thirty (30) G"ys, prior to the sale; and the Trustee shall tn.en"
<br />sell sai.? prop~r-ty at tile time and plac~ i':]~s-igna'ted in- _'-the
<br />notice, LD the manner provided bv law in effect at. the. time, 6f
<br />filing- said notice, at-public 2:uction to the. h-igh,est.'bio(l-.er"fbr
<br />cash and shall deliver to such purcha$er a deed to.: the pr'oper.ty'
<br />sold, consist(1nt with the law in effect a.t the time,.
<br />
<br />Upon T.:'eceipt of payment or th.8 price bid, Trus~ee shaLl
<br />deliver to the purchaser, Trusteels deed conveying the prope~ty
<br />sold.. Reei tals in the Trustee I s deed sha 11 be P,t: ima facie evi-
<br />dence of the truth of the sta.tE.:Hlents made therei~n. Trustee shall
<br />a ?ply the p,::?ceods of t~e sa.le in t~he fo llowin~ ord:~: (a) to
<br />a.L.i reasonabl.e costs ana expE~nsc:s 01: the 5i:le, lncluc,~ng but not
<br />li.mited t~o, Trusteefs fees of Y"iot- more th,an of the gross
<br />sale pri.ce, reasonabl.e' att.orney fees and title evic3ence;
<br />{b) to all sums secured by t,his Deed of ; and {c) the
<br />eX,cess t if anv, to the y.erson or persons leGdlly entitled thereto"
<br />.~ny perso.n, i.~~cll1ding B~ne.fici2il"Y~f may purchE:.se said pl~operty at
<br />said sale..
<br />
<br />Th~ person conducting tile sale may, for ~ny cause lle or she
<br />aeerns expedient, postpone the sale from time to time until it
<br />shall be completed and, in every such case, notice of postpcne-
<br />be Lven by public declaration thereof by such person
<br />pluce :U.lst 2q.ipoi..tItl2d 10l~ th.e sale; pt:o\'",idec, if
<br />is postponed tor longer thDn onL (1) day oeyone tl1e date
<br />
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<br />." 4,:-~
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