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<br /> �,:;�� � � � ." 9�� ��'7821 �
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<br /> � C. IIpon defa�lt �y TRUSZ'ORS or tho makers of any note secured by �;'
<br />, , t1n�.s De�d of Tru�t or ia the pex�fozmance of any �greement `,
<br /> • hereuzides, BEddEFICIARY msy declar� all sums secused hereby =
<br /> i�medi�tely due and payable by del3very to TRUSTEE of written _
<br /> declaratioa of default. If BENEFICIARY desires said property -
<br /> ,��,: � to b� sQlci, it shall deposit with TR�STEE this Dee�l of Trust -
<br />�..�: and all promis�ory notes anc'. documeats evidencing expeaditures
<br />-� '� socurerl `n�reby, and s�811 deli�er ta TRDSTEL a enittea Not�ce -
<br /> '',�Y . of Default and elec�ion to cause said property to be sold in
<br /> � t�e form requi�ed by l�cv, �ahich st�all be duly filed for record a
<br /> by ^1RIISTEE.
<br />' . (1) After tho lapse of such icime as may be required by law -
<br />�. � ` (psescntlp b�iag one (1) moath Eollcwinq i�he rQCOrdation
<br /> �..;;�� of said Na�tice o� Default), No�ice of Dofault and Notice
<br />�::`<<%�';�;'�f
<br /> ,_;.,,,r; of Sale h�viag laeen given as required by.law, TIiIIST�L,
<br />:..;�%:,�s`. withou� demand on TRIISTORS, shall se11 sa�.d property on .-
<br /> . c:.:..
<br /> th� date and at the time and place designated in said
<br /> �,.`t Y Notice of Sale, at public auction to the hiqhest bidder,
<br /> the pu�ch�se price payable in lawful money of the IInitcc3
<br /> � states at the time af sale. The person conost ne Y..i�� .
<br /> . sale may, for any cause he deems espedieat, p p .•i�
<br /> sale from time to time until it shall be completed and iti
<br /> '� , . every suc� case, aotice o� po��nement shall F�� qivea by
<br /> . public decla�atioa thereuf by such pesson at � time and
<br /> , plac� ias� appointed for the sale; prov i de c fls �f c t he sa l e
<br /> .. is p�g�po�ned for longer than one (1) c�.y hego�s� the day
<br /> �:��.t,�,: desig�ate�l in the Notice og Sal�, aotice the�e�'s� shal� be ,
<br /> • given in the same raanner as �che oriqia�l Notice of Sale.
<br /> TR�3Tf�.E s$all e$ecute and deliver �o the purchaser bis
<br /> ` �• Deed con�eying said property so sold� mut without �y
<br /> coven�nt or warr�aty. espxess or i.mpl$Ed. The recita��
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<br /> ` in the Deed of as�y ma�ters os facts shall be conclusine
<br /> � ,;• _:; praof of the �su�b�fuln�ss thereof. Any person, including _
<br /> ' BENEFICII4RY, m�y purchase at thQ sale. TRIISTOg2S h�reby ^
<br />,`::;;�:�;�;:•, cove��nt tv warrant and de�ead t�� tftle of the abovQ
<br />,�;�i`";j� p�r�perty to purchaser at sale.
<br /> 13. W9ien th� TROSTBE sells the trus� property pursuaat to the
<br /> �caw8rs granted herein, the TRII$TEE shall apply th�e proceeds
<br /> ' from the sale of such property in t�e followfng order of
<br /> �` . priority:
<br /> � �1� andt of het sale egincludinge att rn y f es P�e�n�.dence of
<br /> � � title and other sale eapenses, and a trust�e�s ��e not to
<br /> � esc�c�d four percent (4�) of the gros� saZ� ����e;
<br /> (Z g� To tfie payment of the obligat3�s� sec�ed by tl�.ufs Deed of
<br /> � Ta�u�� and Trust Deed Note;
<br /> . (3) To tlx� pay�¢ent of junior Trust Deeds, �ortgages, or other
<br /> � lientiolders;
<br /> ' ' �4; The balance, if any, to th� person or persons legally
<br /> � �' entitl.ed th�reto.
<br /> �, . .•
<br /> . E. Up�n the crr.currence of aEay default her�uu�pr, BENEFICIT :
<br /> �` ''i�. ah.a.�l hav�, in addition �o such ether a�;��ions as may be
<br /> . � c���ed �ie$efn, the further ���tian L� for��.os� �Isi;r D�ed of
<br /> •; � '�ru�t i.n the ma�er psonid_ed �� Iaca fd� �€ore�Ilr�suros of
<br /> . . ��rLgagea oa� real property a
<br /> . F. BIII�FICIARY m�y from time to time substitute a s�z���essor or
<br />� ; surcessors to any TRIISTEE named �erein or acting i.��reunder.
<br /> IIpon such appointment, and withou� conveyance to ��ic� suacessor
<br />' � ° TRiTSTE�, the la��er shall �e vested with �11 title, powers,
<br /> �: and duties conferred upon aaiy TRUSTEE her�iaa named or actfng
<br /> � hereunder. Each such appointment and su➢�3�itution sh�ll be
<br /> made by rrti�ten ins�rument and esecuted by 1��NEFICIARY,
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