201001721 - Laserfiche WebLink

Browse

201001'721 said Notice of Default), Notice of Default and Notice of Sale having been given as required by law, TRUSTEE, without demand on TRUSTORS, shall sell said property an the date and at the time and place designated in said Notice of Sale, at public auction to the highest bidder, the purchase 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; provided, 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 his 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, including BENEFICIARIES, may purchase at the sale. TRUSTORS hereby covenant to warrant and defend the title of the above property to the purchaser at sale. D. When the TRUSTEE sells the trust property pursuant to the powers granted herein, the TRUSTEE shall apply the proceeds from the sale of such property in the following order of priority: (1) To the cost and expense of exercising the power of sale and of the sale, including attorney fees, evidence of title and other sale expenses, and a trustee's fee not to exceed two (2) percent of the gross sale price; (2) To the payment of the obligation secured by this Deed of Trust and Trust Deed Note; (3) Ta the payment of junior trust deeds, mortgages or other lienholders; (4) The balance, if any, to the person or persons legally entitled thereto. E. Upon the occurrence of any default hereunder, BENEFICTARIES shall have, in addition to such other options as may be granted herein, the further option to foreclose this Deed of Trust in the manner provided by law for foreclosures of mortgages on real property. F. BENEFICIARIES may from time to time substitute a successor or successors to any TRUSTEE named herein or acting hereunder. Upon such appointment, and without conveyance to the successor TRUSTEE, the latter shall be vested with all title, powers and duties conferred upon any TRUSTEE herein named or acting hereunder. Each such appointment and substitution shall be made by written instrument and executed by BENEFICIARIES, containing reference to this Deed of Trust and its place of record, which, when recorded in the office of the Register of Deeds of the county or counties in which said property is situated, shall be conclusive proof of proper appointment of the successor TRUSTEE. The foregoing power of substitution and the procedure therefore shall not be exclusive of the power and procedure provided for by law for the substitution of a TRUSTEE in the place of the TRUSTEE named herein. G. TRUSTQRS covenant and agree that upon any attempted conveyance, assignment, pledge ar transfer of any of their interest in the premises during the term of the loan secured hereby, the BENEFICIARTES shall have the option of declaring the unpaid balance immediately due and payable, and if said sum remains unpaid for ten (10) days thereafter, BENEFICIARIES can cause Notice of Default to be given and the premises be sold as provided herein. H. As additional and collateral security for the loan, and effective -3-