Laserfiche WebLink
169481 DT <br />05/24/2013 01:23 PM L. Nichols <br />Page 2 of 3 R 21.00 D 0 T 21.00 Crowley Co <br />11111111111111111 IIII !11111 IIII 1111111111111 III1 IIII IIIII IIIII 1111111 III IIIII IIIII IIII IN <br />COUNTY, shall sell said COLLATERAL in the manner provided by law in effect at the time of filing said notice <br />and demand, at public auction for cash, at any proper place designated in the notice of sale. Out of the <br />proceeds of said sale, the PUBLIC TRUSTEE shall retain or pay first all fees, charges and costs and all moneys <br />advanced for taxes, insurance and assessments, or on any prior encumbrance, with interest thereon and <br />pay the principal and interest due on said PROMISSORY NOTE, rendering the overplus, if any, unto the <br />GRANTOR; and after the expiration of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to <br />the purchaser a deed to the COLLATERAL sold. The BENEFICIARY may purchase said COLLATERAL or any part <br />thereof at such sale. <br />The GRANTOR covenants that at the time of the delivery of these presents, it is well seized of the <br />COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and convey the same <br />in the manner and form as aforesaid. The GRANTOR fully waives and releases all rights and claims it may <br />have in or to said COLLATERAL as a Homestead Exemption or other exemption, now or hereafter provided by <br />law. The GRANTOR further covenants that the COLLATERAL is free and clear of all liens and encumbrances <br />whatever and that the GRANTOR shall warrant and forever defend the COLLATERAL in the quiet and peaceable <br />possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or persons <br />lawfully claiming or to claim the whole or any part thereof. <br />Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and assessments <br />levied on the COLLATERAL; any and all amounts due on account of the principal and interest or other sums on <br />any senior encumbrances, if any; and will keep the COLLATERAL insured in accordance with the requirements <br />of the LOAN CONTRACT. In the event of the sale or transfer of the COLLATERAL, the BENEFICIARY, at its option, <br />may declare the entire balance of the PROMISSORY NOTE immediately due and payable. <br />In case of default in any of said payments of the principal or interest, according to the terms of said <br />PROMISSORY NOTE or LOAN CONTRACT, by the GRANTOR, its successors or assigns, then said principal sum <br />hereby secured, and interest thereon, may at once, at the option of the BENEFICIARY, become due and <br />payable, and the said COLLATERAL be sold in the manner and with the same effect as if said indebtedness <br />had matured, and that if foreclosure be made by the PUBLIC TRUSTEE, an attorney's fee in a reasonable <br />amount for services in the supervision of said foreclosure proceedings shall be allowed by the PUBLIC <br />TRUSTEE as a part of the cost of foreclosure, and if foreclosure be made through the courts a reasonable <br />attorney's fee shall be taxed by the court as a part of the cost of such foreclosure proceedings. <br />It is further understood and agreed, that if a release or a partial release of this DEED OF TRUST is <br />required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the covenants and <br />agreements contained herein and in the PROMISSORY NOTE and LOAN CONTRACT shall extend to and be <br />binding upon the successors or assigns of the respective parties hereto; and that the singular number shall <br />include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. <br />[REST OF PAGE INTENTIONALY LEFT BLANK] <br />Appendix 5 to Loan Contract C150349 <br />Page 2 of 3 <br />