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Inst 1999444481
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Inst 1999444481
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6/23/2014 12:10:01 PM
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6/23/2014 12:10:00 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
12/6/1999
Recorded Document Type
Loan Agreement
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PERM
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Reso 1999-060
(Approved by)
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\City Clerk\City Council\Resolutions\1999
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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 <br /> fixed by it in said notice of sale, either as a whole or in separate parcels and in such <br /> order as it may determine, at public auction to the highest bidder for cash in lawful <br /> money of the United States, payable at time of sale. Trustee may postpone sale of all <br /> or any portion of the Property by public announcement at such time and place of <br /> 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 <br /> any covenant or warranty, express or implied. The recitals in such deed of any <br /> matters or facts shall be conclusive proof of the truthfulness thereof. Any person, <br /> including Trustor, Trustee, or Beneficiary, may purchase at such sale. <br /> After deducting all costs, fees, and expenses of Trustee and of this Trust, <br /> including cost of evidence of title and reasonable attorneys' fees in connection with <br /> sale, Trustee shall apply the proceeds of sale to payment of all sums expended under <br /> the terms hereof, not then repaid, with accrued interest at seven percent (7%) per <br /> annum; all other sums then secured hereby; and the remainder, if any, to the person <br /> or persons legally entitled thereto. <br /> 9. Trustor's Right to Reinstate. Notwithstanding Beneficiary's - <br /> acceleration of the sums secured by this Deed of Trust due to Trustor's breach, <br /> Trustor shall have the right to have any proceedings begun by Beneficiary to enforce <br /> this Deed of Trust discontinued at any time prior to five days before sale of the <br /> Property pursuant to the power of sale contained in this Deed of Trust or at any time <br /> prior to entry of a judgment enforcing this Deed of Trust if: (a) Trustor pays <br /> Beneficiary all sums which would be then due under this Deed of Trust if the Note <br /> had no acceleration provision; (b) Trustor cures all breaches of any other covenants <br /> or agreements of Trustor contained in this Deed of Trust; (c) Trustor pays all <br /> reasonable expenses incurred by Beneficiary and Trustee in enforcing the covenants <br /> and agreements of Trustor contained in this Deed of Trust, and in enforcing <br /> Beneficiary's and Trustee's remedies as provided herein, including, but not limited to, <br /> reasonable attorney's fees; and (d) Trustor takes such action as Beneficiary may <br /> reasonably require to assure that the lien of this Deed of Trust, Beneficiary's interest <br /> in the Property and Trustor's obligation to pay the sums secured by this Deed of <br /> Trust shall continue unimpaired. Upon such payment and cure by Trustor, this <br /> Deed of Trust and the obligations secured hereby shall remain in full force and effect <br /> as if no acceleration had occurred. <br /> 7 <br />
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