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fora required by law, which shall be duly filed for record by Trustee. (1) After the lapse of such time as may be required by law following the recordation of said notice of default, and notice of default and notice of sale having been given as required by law, Trustee, without demand on Trustor, shall sell said property on the date and at the time-and place designated in said notice of sale, at p,tblic auction to the highest bidder, the pur- chase price payable in lawful money of the United States at the time of sale. The person conducting the sale may, for any cause he deems expedient, postpone the sale from time to time until it shall be completed and, in every such case, notice of postponement shall be given by public declaration thereof by such person at the time and place last appointed for the sale; pro- vided, if the sale is postponed for longer than one (1) day beyond the day designated in the notice of sale, notice thereof shall be given in the same manner as the original notice of sale. Trustee shall execute and deliver to the purchaser its Deed conveying said property so sold, but without any covenant or warranty, express or implied. The recitals in the Deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, in- cluding Beneficiary, may purchase at the sale. (2) When Trustee sells pursuant to the powers herein, Trustee shall apply the proceeds of the sale to payment of the costs and expenses of exercising the power of sale and of the sale, including the payment of Trustee's fees actually incurred, which Trustee's fees shall not in the aggregate exceed the following amounts based upon the amount secured hereby and remaining unpaid: S per centum on the first $1,000.00 thereof, .O5 per centum on the balance thereof; and then to the items in subparagraph (3) in the order there stated. (3) After paying the items specified in subparagraph (2) if the sale is by Trustee, or the proper court and other costs of foreclosure and sale if sale is pursuant to judicial foreclosure, the proceeds of sale shall be applied in the order stated to the payment of: (a) Cost of any evidence of title procured in connection with such sale and of any tax on the conveyance; (b) All sums then secured hereby; (c) All expenses of upkeep, maintenance, and utilities incurred in connection with such sale; (d) The remainder, if. any, to the person or persons legally entitled thereto. D. Upon the occurrence of any default hereunder, Bene- ficiary shall have the option to foreclose this Trust Deed in the manner provided by law for the fore- closure of mortgages on real property. - 3 -