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<br />Real Property upon such terms and conditions as Beneficiary deems proper; and to make repairs,
<br />alterations and improvements to the Real Property deemed necessary, in Trustee's ar Beneficiary's
<br />judgment, to protect or enhance the security hereof.
<br />(f) To execute or cause Trustee to execute a written notice of such Default and of its election to cause
<br />the Real Property to be sold to satisfy the Secured Obligations. Trustee shall give and record such
<br />notice as the law then requires as a condition precedent to a trustee's sale. When the minimum period of
<br />time required by law after such notice has elapsed, Trustee, without notice to or demand upon Trustor,
<br />except as otherwise required by law, shall sell the Real Property at the time and place of sale fixed by it
<br />in the notice of sale, at one or several sales, either as a whole or in separate parcels and in such
<br />manner and order, all as directed by Beneficiary in its sole discretion, at public auction to the highest
<br />bidder far cash, in lawful money of the United States, payable at the time of sale. Except as required by
<br />law, neither Trustor nor any other person or entity shall have the right to direct the order in which the
<br />Real Property is sold. Subject to requirements and limits imposed by law, Trustee may postpone any
<br />sale of the Real Property by public announcement at such time and place of sale, and from time to time
<br />may postpone such sale by public announcement at the time and place fixed by the preceding
<br />postponement. Trustee shall deliver to the purchaser at such sale a deed conveying the Real Property
<br />or portion thereof so sold, but without any covenant or warranty, express or implied. The recitals in said
<br />deed of any matters or facts shall be conclusive proof of the #ruthfulness thereof. Any person, including
<br />Trustee, Trustor or Beneficiary, may purchase at such sale.
<br />(g) To resort to and realize upon the security hereunder and any other security now or later held by
<br />Beneficiary concurrently or successively and in one or several consolidated or independent judicial
<br />actions ar lawfully taken non-judicial proceedings, or both, and to apply the proceeds received in
<br />accordance with the Section hereof entitled A lication of F re I I Pr a s, all in such order
<br />and manner as Beneficiary shall determine in its sole discretion.
<br />(h) Upon sale of the Real Property at any judicial or non-judicial foreclosure, Beneficiary may credit bid
<br />(as determined by Beneficiary in its sole discretion) all or any portion of the Secured Obligations. In
<br />determining such credit bid, Beneficiary may, but is not obligated to, take into account all or any of the
<br />following: (i) appraisals of the Real Property as such appraisals may be discounted or adjusted by
<br />Beneficiary in its sole underwriting discretion; (ii) expenses and costs incurred by Beneficiary with
<br />respect to the Real Property prior to foreclosure; (iii) expenses and costs which Beneficiary anticipates
<br />will be incurred with respect to the Real Property after foreclosure, but prior to resale, including without
<br />limitation, costs of structural reports and other due diligence, costs to carry the Real Property prior to
<br />resale, costs of resale (e.g., commissions, attorneys' fees, and taxes), Hazardous Materials clean-up
<br />and monitoring, deferred maintenance, repair, refurbishment and retrofit, and costs of defending or
<br />settling litigation affecting the Real Property; (iv) declining trends in real property values generally and
<br />with respect to properties similar to the Real Property; (v) anticipated discounts upon resale of the Real
<br />Property as a distressed or foreclosed property; (vi) the existence of additional collateral, if any, for the
<br />Secured Obligations; and (vii) such other factors or matters that Beneficiary deems appropriate. Trustor
<br />acknowledges and agrees that: (A) Beneficiary is not required to use any or all of the foregoing factors
<br />to determine the amount of its credit bid; (B) this Section does not impose upon Beneficiary any
<br />additional obligations that are not imposed by law at the time the credit bid is made; (C) the amount of
<br />Beneficiary's credit bid need not have any relation to any loan-to-value ratios specified in any agreement
<br />between Trustor and Beneficiary or previously discussed by Trustor and Beneficiary; and (D)
<br />Beneficiary's credit bid may be, at Beneficiary's sole discretion, higher or lower than any appraised value
<br />of the Real Property.
<br />5.3 Aoolication of Foreclosure Sale Proceeds. After deducting all costs, fees and expenses of Trustee,
<br />and of this trust, including costs of evidence of title and attorneys' fees in connection with a sale, all
<br />DeedOtTrust-NE Job 1712907949-1129797866 Loan Vers.4 09/16/2009 Page 13 of 19
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