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Prior to publication of the notice of sale, Beneficiary shall deliver to Trustee this
<br />Deed of Trust and the Note or other evidence of indebtedness which is secured hereby,
<br />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 following
<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
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