Laserfiche WebLink
g <br />�CV <br />from the premises by summary dispossession proceedings or by any <br />other appropriate action or proceeding as authorized by law. <br />C. In the event of a default hereunder, after notice and an <br />opportunity to cure, i° applicable, the following shall apply: <br />1. If default is made in performance of any agreement <br />hereby secured, then Beneficiaries, with or without notice to <br />Trustor, may institute suit for the foreclosure of this deed, or by <br />delivering to Trustee a written declaration of default and demand <br />for sale, as well as a written notice of default and of election to <br />cause the property to be sold, which notice Trustee shall cause to <br />be filed of record. If such declaration is delivered to Trustee, <br />Beneficiaries shall deposit with Trustee this deed, and all <br />documents evidencing expenditures secured hereby. <br />2. After the time then required by law has elapsed <br />after recordation of such notice of default, and notice of sale <br />having been given as then required by law; Trustee, with or without <br />demand on Trustor, shall sell the property at the time and place <br />fixed in the notice of sale, either as a whole or in separate <br />parcels and in such order as Trustee determines, at public auction, <br />to the highest bidder, for cash in lawful money of the United <br />States, payable at the time of sale. Trustee may postpone from <br />time to time sale of all or any portion of the property by public <br />announcement at the time and place of sale originally fixed or at <br />the last preceding postponed time. Trustee shall deliver to the <br />purchaser its deed conveying the property sold, but without any <br />covenant or warranty, express or implied. The recitals in such <br />deed of any matters or facts shall be conclusive proof of the <br />truthfulness thereof. Trustor, Trustee, Beneficiaries or any other <br />person may purchase at the sale. <br />3. After deducting all reasonable costs, fees and <br />expenses of Trustee and of this trust, including cost of evidence <br />of title and reasonable attorneys' fees in connection with sale, <br />Trustee shall apply the proceeds of sale to payment of (a) all <br />reasonable sums expended under the terms hereof and not theretofore <br />repaid, with accrued interest at Bank of America's published prime <br />rate per annum, and (b) all other sums then secured hereby in such <br />order as Beneficiaries, in the exercise of its reasonable <br />discretion, directs. The remainder, if any, shall be paid to the <br />person or persons legally entitled thereto. <br />4. Before Trustee's sale, Beneficiaries may rescind <br />such notices of default and of election to cause the property to be <br />� J <br />