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2�i101'752 <br />lawful money of the United States at the time of sale. The person conducting the sale <br />may, for any cause he deems expedient, postpone the sale from time to time until it shall <br />be completed and in every such case, notice of postponement shall be given by public <br />declaration thereof by such person at the time and place last appointed for the sale; <br />provided, if the sale is postponed for longer than one (1) day beyond the day designated <br />in:the Notice of Sale, notice thereof shall be given in the same manner as the original <br />Notice of Sale. TRUSTEE shall execute and deliver to th� purchaser his Deed <br />conveying said property so sold, but without any covenant or warranty, express or <br />implied. The recitals in the Deed of any matters or facts shall be conclusive proof of the <br />truthfulness thereof. Any person, including BENEFICIARIES, may purchase at the <br />sale. TRUSTOR hereby covenants, warrants and defends the title of the above property <br />to purchaser at sale. <br />D. When the TRUSTEE sells the trust property pursuant to the powers granted herein, the <br />TRUSTEE shall apply the proceeds from the sale of such property in the following arder <br />of priority: . <br />1. To the cost and expense of exercising the power of sale and of the sale, including <br />attorney fees, evidence of title and other sale expenses, and a trustee's fee not to exceed <br />Four percent (4%) of the gross sale price; <br />2. To the payment of the obligation secured by this DEED OF TRUST and Trust Deed <br />Note; <br />3. To the payment of junior Trust Deeds, mortgages, or other lien holders; <br />4. The balance, if any, to the person or persons legally entitled thereto. <br />E. Upon the occurrence of any default hereunder, BENEFICIARIES shall have, in addition to <br />such other options as may be granted herein, the further option to foreclose this DEED OF <br />TRUST in the manner provided by law for foreclosures of mortgages on real property. <br />F. BENEFICIARIES may from time to time substitute a successor or successors to any <br />TRUSTEE named herein or acting hereunder. Upon such appointment, and without <br />conveyance to the successor TRUSTEE, the latter shall be vested with all title, powers, and <br />duties conferred upon any TRUSTEE herein named or acting hereunder. Each such <br />appointment and substitution shall be made by written instrument and executed by <br />BENEFICIARIES, containing reference to this DEED OF TRUST and its place of record, <br />which, when recorded in the Office of the Register of Deeds of the county or counties in <br />which said properly is situated, shall be conclusive proof of proper appointment of the <br />successor TRUSTEE. The foregoing power of substitution and the procedure therefore <br />shall not be exclusive of the power and procedure provided for by law for the substitution <br />of a TRUSTEE in the place of the TRUSTEE named herein. <br />G. TRUSTOR covenants and agrees that upon any attempted conveyance, assignment, pledge <br />or transfer of any of his interest in the premises during the term of the loan secured hereby, <br />the BENEFICIARIES shall have the option of declaring the unpaid balance immediately <br />due and payable; and if said sum remains unpaid for fifteen (15) days thereafter, <br />BENEFICIARIES can cause Notice of Default to be given and the premises be sold as <br />provided herein. <br />H. As additional and collateral security for the loan, and effective forthwith upon filing of a <br />Notice of Default, this instrument shall serve as an assignment by the TRUSTOR to the <br />TRUSTEE, of all rents and revenues resulting from the property, and TRUSTEE is <br />authorized to take possession of the property, rent or lease the same on terms he deems <br />best 'and to collect the rents and revenues and apply the same upon unpaid interest, <br />principal, t�es or insurance premiums or for maintenance and preservation of the <br />premises. <br />-3- <br />