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Inst 2009198747
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Inst 2009198747
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7/17/2009 3:29:09 PM
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7/17/2009 3:29:08 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
5/7/2009
Recorded Document Type
Deed of Trust
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PERM
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RDA Agmt 2009 Scribner Family Partnership Ltd
(Reference)
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together with a written request for the Trustee to proceed with a sale of the Property, <br />pursuant to the provisions of law and this Deed of Trust. <br />Notice of sale having been given as then required by law, and not less than the <br />time then required by law having elapsed after recordation of such notice of default, <br />Trustee, without demand on Trustor, shall sell the Property at the time and place fixed <br />by it in the notice of sale, either as a whole or in separate parcels and in such order as it <br />may determine, at public auction to the highest bidder for cash in lawful money of the <br />United States, payable at time of sale. Trustee may, and at Beneficiary's request shall, <br />postpone sale of all or any portion of the Property by public announcement at such time <br />and place of sale, and from time to time thereafter may postpone such sale by public <br />announcement at the time and place fixed by the preceding postponement. Trustee <br />shall deliver to the purchaser its deed conveying the property so sold, but without any <br />covenant or warranty, express or implied. The recitals in such deed of any matters or <br />facts shall be conclusive proof of the truthfulness thereof. Any person, including Trustor, <br />Trustee, or Beneficiary, may purchase at such sale. <br />After deducting all costs, fees, and expenses of Trustee and of the trust hereby <br />created, including reasonable attorneys' fees in connection with sale, Trustee shall <br />apply the proceeds of sale to payment of all sums advanced or expended by Beneficiary <br />or Trustee under the terms hereof and all outstanding sums then secured hereby, and <br />the remainder, if any, to the person or persons legally entitled thereto. <br />At any foreclosure sale, any person, including Trustor, Trustee or Beneficiary, <br />may bid for and acquire the Property or any part of it to the extent permitted by then <br />applicable law. Instead of paying cash for such property, Beneficiary may settle for the <br />purchase price by crediting the sales price of the property against the fallowing <br />obligations: <br />(a) First, the portion of the Secured Obligations attributable to the <br />expenses of sale, costs of any action and any other sums for which Trustor is obligated <br />to pay or reimburse Beneficiary or Trustee under Section 7.12(c); and <br />(b) Second, the remaining balance of all other Secured Obligations in any <br />order and proportions as Beneficiary in its sole discretion may choose. <br />9. Trustor's Waivers. To the fullest extent permitted by law, Trustor waives: (a) <br />all statutes of limitations as a defense to any action or proceeding brought against <br />Trustor by Beneficiary; (b) the benefit of all laws now existing or which may hereafter be <br />enacted providing for any appraisement, valuation, stay, extension, redemption or <br />moratorium; (c) all rights of marshalling in the event of foreclosure; and (d) all <br />presentments, demands for performance, notices of nonperformance, protests, notices <br />of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the <br />existence, creation, or incurring of new or additional indebtedness, and demands and <br />notices of every kind. <br />10. Miscellaneous Provisions <br />11773602 15 <br />
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