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Inst 2006181159
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Inst 2006181159
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Last modified
12/22/2010 5:10:26 PM
Creation date
12/22/2010 5:10:25 PM
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CM City Clerk-City Council
Document Date (6)
4/26/2006
Recorded Document Type
Deed of Trust
Retention
PERM
Document Relationships
Inst 2010336107
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2010
Inst 2010336109
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2010
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Notice of sale having been given as then required by law, and not less than the time then <br /> required by law having elapsed after recordation of such notice of default, Trustee, without <br /> demand on Trustor, shall sell the Property at the time and place fixed by it in the notice of sale, <br /> either as a whole or in separate parcels and in such order as it may determine, at public auction to <br /> the highest bidder for cash in lawful money of the United States, payable at time of sale. Trustee <br /> may, and at Beneficiary's request shall, postpone sale of all or any portion of the Property by <br /> public announcement at such time and place of sale, and from time to time thereafter may <br /> postpone such sale by public announcement at the time and place fixed by the preceding <br /> postponement. Trustee shall deliver to the purchaser its deed conveying the property so sold, but <br /> without any covenant or warranty, express or implied. The recitals in such deed of any matters <br /> or 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 created, <br /> including reasonable attorneys' fees in connection with sale, Trustee shall apply the proceeds of <br /> sale to payment of all sums advanced or expended by Beneficiary or Trustee under the terms <br /> hereof and all outstanding sums then secured hereby, and the remainder, if any, to the person or <br /> persons legally entitled thereto. <br /> At any foreclosure sale, any person, including Trustor, Trustee or Beneficiary, may bid <br /> for and acquire the Property or any part of it to the extent permitted by then applicable law. <br /> Instead of paying cash for such property, Beneficiary may settle for the purchase price by <br /> crediting the sales price of the property against the following obligations: <br /> a. First, the portion of the Secured Obligations attributable to the expenses of <br /> sale, costs of any action and any other sums for which Trustor is obligated to pay or reimburse <br /> Beneficiary or Trustee under Section 7.10(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) all <br /> statutes of limitations as a defense to any action or proceeding brought against Trustor by <br /> Beneficiary; (b) the benefit of all laws now existing or which may hereafter be enacted providing <br /> for any appraisement, valuation, stay, extension, redemption or moratorium; (c) all rights of <br /> marshalling in the event of foreclosure; and (d) all presentments, demands for performance, <br /> notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance <br /> of this Deed of Trust and of the existence, creation, or incurring of new or <br /> additional indebtedness, and demands and notices of every kind. <br /> 10. Miscellaneous Provisions. <br /> 10.1 Additional Provisions. The Agency Documents grant further rights to Beneficiary <br /> and contain further agreements and affirmative and negative covenants by Trustor which apply <br /> to this Deed of Trust and the Property. <br /> 818010 -4 15 <br />
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