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201108630
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Last modified
12/1/2011 3:02:29 PM
Creation date
11/17/2011 8:50:10 AM
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DEEDS
Inst Number
201108630
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said rent to Benef iciary until further notice . � 0110 8 6 3 0 <br />FOURTH. If there sha7.l be filed by or against the Trustor any <br />petition or proceeding seeking any arrangement or composition ar <br />extension of any other relief under or pursuant to the Federal <br />Bankruptcy Code or any other similar statute as is now or hereafter <br />in effect, or if the Trustor shall be adjudicated bankrupt or <br />insolvent or any o� Trustor's property shall have been sequestered <br />and such decree shall have continued undischarged and unstayed for <br />90 days after the entry thereof, then the whole of the Note and <br />indebtedness hereby secured shall, without notice, at the option of <br />the Beneficiary, become due and payable. <br />FIFTH. Upon default by Trustor in the payment of or perfor- <br />mance of the terms and conditions of the Note, or any renewals, <br />modifications or executions thereof, the payment of any other <br />indebtedness secured hereb�r or in the performance of any agreement, <br />covenant or warranty herein contained or set forth in any agreement <br />or in.strument executed by Trustor in connection with the indebted- <br />ness hereby secured, Beneficiary may declare all sums secured <br />hereby immediately due and payable and the same shall thereupon <br />become due and payable without presentment, demand, protest or <br />notice of any kind. Thereafter, Beneficiary may deliver to Trustee <br />a written declaration of default and demand for sale. Trustee <br />shall have the power of sale of the Property and if Beneficiary <br />decides the Property is to be sold, it shall deposit with Trustee <br />this Deed of Trust and the Note or nates and any other documents <br />evidencing expenditures secured hereby, and shall deliver to <br />Trustee a written notice of default and election to cause the <br />Property to be sold, and Trustee, in turn, shall prepare a similar <br />notice in the form required by law, which shall be duly filed for <br />record by Trustee. <br />(a) After the lapse of such time as may be required by law <br />following the recordation of Notice of Default, and notice of <br />Default and Notice of Sale having been given as required by <br />law, Trustee, without demand on Trustor, shall sell the <br />Property hereinbefore described, and any and every part <br />thereof, in separate parcels or en masse as the Trustee may <br />elect and in such order as Trustee may determine on th� date <br />and at the time and place designated in said Notice of Sale, <br />at public auction to the highest bidder, the purchase price <br />payable in cash in lawful money of the United States at the <br />time of sale . The person conducting the sale may, for any <br />cause he or she deems expedient, postpone the sale from time <br />to time until it shall be completed and, in every such case, <br />notice of postponement shall be given by public declaration <br />thereof by such person at the time and place last appointed <br />for the sale; provided, if the sale is postponed for longer <br />than one (1) day beyond the day designated in the Notice of <br />Sale, notice thereof shall be given in the same manner as the <br />original Notice of sale. Trustee shall execute and deliver to <br />the purchaser its Deed conveying the property so sold, but <br />without any covenant or warranty, express or implied. The <br />recitals in the Deed of any matters or �acts shall be conclu- <br />sive proof of the truthfulness thereof. Any person, including <br />without limitation, Beneficiary or Trustee may purchase at the <br />sale. Said sale shall be conducted at the real estate forming <br />a part of the Property or at the court house in the county in <br />which the Property to be sold, or some part thereof, is <br />situated. <br />(b) When Trustee sells pursuant to the powers herein, Trus�ee <br />shall apply the proceeds of the sale to payment of the costs <br />and expenses of exercising the power of sale and of the sale, <br />including, withaut limitation, the payment of Trustee`s fees <br />incurred, which Trustee's fees shall not in the aggregate <br />exceed the sum of Five Hundred and no/100th Dollars ($500.00) <br />plus 1/2 of l% of the amount secured hereby and remaining <br />unpaid and then.to the items set forth in subparagraph (c) of <br />this paragraph FIFTH in the order therein stated. <br />
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