8M Consent 2008 0902 - Laserfiche WebLink

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7. Due On Sale Without the Consent of Beneficiary. If the Property, any part of it, or interest in it is sold, or if Trustor agrees to sell, convey, or alienate said property, by operation of law or otherwise in violation of the transfer provisions of the Loan Agreement, all obligations secured by this instrument, irrespective of the maturity dates expressed therein, at the option of the holder thereof and without demand shall immediately become due and payable. 8. Powers of Sale. Upon default by Trustor in payment of any indebtedness secured hereby or in performance of any agreement hereunder, after the expiration of applicable notice and cure periods, all sums secured hereby shall immediately become due and payable at the option of the Beneficiary. In the event of default, Beneficiary may employ counsel to enforce payment of the obligations secured hereby, and shall execute or cause the Trustee to execute a written notice of such default and of its election to cause to be sold the Property to satisfy the obligations hereof, and shall cause such notice to be recorded in the office of the Recorder of each county wherein the Property or some part thereof is situated. Prior to publication of the notice of sale, Beneficiary shall deliver to Trustee this DEED OF TRUST and the Note or other evidence of indebtedness which is secured hereby, together with a written request for the Trustee to proceed with a sale of the property described herein, pursuant to the provisions of law and this DEED OF TRUST. Notice of sale having been given as then required by law, and not less than the time then required by law having elapsed after recordation of such notice of default, Trustee, without demand on Trustor, shall sell the Property at the time and 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 auction to the highest bidder for cash in lawful money of the United States, payable at time of sale. Trustee may postpone sale of all or any portion of the Property by public announcement at such time and place of sale, and from time to time thereafter may postpone such sale by public announcement at the time and place fixed by the preceding postponement. Trustee shall deliver to the purchaser its deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including Trustor, Trustee, or Beneficiary, may purchase at such sale. After deducting all costs, fees, and expenses of Trustee and of this Trust, including cost of evidence of title and reasonable attorneys' fees in connection with sale, Trustee shall apply the proceeds of sale to payment of all sums expended under the terms hereof, not then repaid, with accrued interest at seven percent (7%) per annum; all other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto. 9, Trustor's Right to Reinstate. Notwithstanding Beneficiary's acceleration of the sums secured by this DEED OF TRUST due to Trustor's breach, Trustor shall have the right to have any proceedings begun by Beneficiary to enforce this DEED OF TRUST discontinued at any time prior to five days before sale of the Property pursuant to the power of sale contained in this DEED OF TRUST or at any time prior to entry of a judgment enforcing this DEED OF TRUST if; (a) Trustor pays Beneficiary all sums which would be then due under this DEED OF TRUST if the NOTE had no acceleration provision; (b) Trustor cures all breaches of any other covenants or agreements of Trustor contained in this DEED OF TRUST; {c) Trustor pays all reasonable expenses incurred by Beneficiary and Trustee in enforcing the covenants and agreements of Trustor contained in this DEED OF TRUST, and in enforcing Beneficiary's and Trustee's remedies as provided herein, including, but not limited to, reasonable attorney's fees; and (d) Trustor takes such action as Beneficiary may reasonably require to assure that the lien of this DEED OF TRUST, Beneficiary's interest in the Property and Trustoe's obligation to pay the sums secured by this DEED OF TRUST shall continue unimpaired. Upon such payment 1113396.3 C-4 s