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07/22/2013
<br /> (11) That upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement
<br /> hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by delivery to Trustee of written
<br /> declaration of default and demand for sale and of written notice of default and election to cause to be sold said property,which
<br /> notice Trustee shall cause to be filed for record. Beneficiary also shall deposit with Trustee this Deed, said note and all
<br /> documents evidencing expenditures secured hereby.
<br /> After the lapse of such time as may then be required by law following the recordation of said notice of default,and notice
<br /> of sale having been given as then required by law,Trustee,without demand on Trustor,shall sell said property at the time and
<br /> place fixed by it in said notice of sale,either as a whole or in separate parcels, and in such order as it may determine, at public
<br /> auction to the highest bidder for cash of lawful money of the United States, payable at time of sale. Trustee may postpone sale
<br /> of all or any portion of said property by public announcement at such time and place of sale, and from time to time thereafter
<br /> may postpone such sale by public announcement at the time fixed by the proceeding postponement. Trustee shall deliver to
<br /> such purchaser its deed conveying the property so sold,but without any covenant or warranty,express or implied. The recitals in
<br /> such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person,including Trustor,Trustee,or
<br /> Beneficiary as hereinafter defined,may purchase at such sale.
<br /> After deducting all costs,fees, and expenses of Trustee and of this Trust,including cost of evidence of title in connection
<br /> with sale,Trustee shall apply the proceeds of sale to payment of; all sums expended under the terms hereof, not then repaid;
<br /> with accrued interest at the amount allowed by law in effect at the date hereof; all other sums then secured hereby; and the
<br /> remainder,if any,to the person or persons legally entitled thereto.
<br /> (12) Beneficiary, or any successor in ownership of any indebtedness secured hereby, may from time to time, by instrument in
<br /> writing,substitute a successor or successors to any Trustee named herein or acting hereunder,which instrument, executed by
<br /> the Beneficiary and duly acknowledged and recorded in the office of the recorded of the county or counties where said property is
<br /> situated, shall be conclusive proof of proper substitution of such successor Trustee or Trustees,who shall,without conveyance
<br /> from the Trustee predecessor,succeed to its title,estate,rights, powers,and duties. Said instrument must contain the name of
<br /> the original Trustor, Trustee, and Beneficiary hereunder, the book and pages where this Deed is recorded and the name and
<br /> address of the new Trustee.
<br /> (13) That this Deed applies to, inures to the benefit of, and binds all parties hereto, their heirs, legatees, devisees,
<br /> administrators, executors, successors,and assigns. The term Beneficiary shall mean the owner and holder,including pledges,
<br /> of the note secured hereby,whether or not named as Beneficiary herein. In this Deed,whenever the context so requires,the
<br /> masculine gender includes the feminine and/or neuter,and the singular number includes the plural.
<br /> (14)That Trustee accepts this Trust when this Deed,duly executed and acknowledged, is made a public record as provided by
<br /> law. Trustee is not obligated to notify any party hereto of pending sale under any other Deed of Trust or of any action or
<br /> proceeding in which Trustor,Beneficiary,or Trustee shall be a party unless brought by Trustee.
<br /> INITIALS
<br /> FD-21B (Rev.4/94) SHORT FORM DEED OF TRUST Page No. 5 of 6
<br /> RESO.#15282
<br /> MUFF#608
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