Laserfiche WebLink
• <br /> newspaper of general circulation in said COUNTY, shall sell said COLLATERAL in the manner provided <br /> by law in effect at the time of filing said notice and demand, at public auction for cash, at any proper <br /> place designated in the notice of sale. Out of the proceeds of said sale, the PUBLIC TRUSTEE shall <br /> retain or pay first all fees, charges and costs and all moneys advanced for taxes, insurance and <br /> assessments, or on any prior encumbrance, with interest thereon and pay the principal and interest <br /> due on said PROMISSORY NOTE, rendering the overplus, if any, unto the GRANTOR; and after the <br /> expiration of the time of redemption, the PUBLIC TRUSTEE shall execute and deliver to the purchaser <br /> 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 <br /> the COLLATERAL in fee simple, and has full power and lawful authority to grant, bargain, sell and <br /> convey the same in the manner and form as aforesaid. The GRANTOR fully waives and releases all <br /> rights and claims it may have in or to said COLLATERAL as a Homestead Exemption or other <br /> exemption, now or hereafter provided by law. The GRANTOR further covenants that the <br /> COLLATERAL is free and clear of all liens and encumbrances whatever and that the GRANTOR shall <br /> warrant and forever defend the COLLATERAL in the quiet and peaceable possession of the PUBLIC <br /> TRUSTEE, its successors and assigns, against all and every person or persons lawfully claiming or <br /> to claim the whole or any part thereof. <br /> Until payment in full of the indebtedness, the GRANTOR shall timely pay all taxes and <br /> assessments levied on the COLLATERAL; any and all amounts due on account of the principal and <br /> interest or other sums on any senior encumbrances, if any; and will keep the COLLATERAL insured in <br /> accordance with the requirements of the LOAN CONTRACT. In the event of the sale or transfer of the <br /> COLLATERAL, the BENEFICIARY, at its option, may declare the entire balance of the PROMISSORY <br /> NOTE immediately due and payable. <br /> In case of default in any of said payments of the principal or interest, according to the terms <br /> of said PROMISSORY NOTE or LOAN CONTRACT, by the GRANTOR, its successors or assigns, then <br /> said principal sum hereby secured, and interest thereon, may at once, at the option of the <br /> BENEFICIARY, become due and payable, and the said COLLATERAL be sold in the manner and with <br /> the same effect as if said indebtedness had matured, and that if foreclosure be made by the PUBLIC <br /> TRUSTEE, an attorney's fee in a reasonable amount for services in the supervision of said <br /> foreclosure proceedings shall be allowed by the PUBLIC TRUSTEE as a part of the cost of <br /> foreclosure, and if foreclosure be made through the courts a reasonable attorney's fee shall be <br /> 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 <br /> TRUST is required, the GRANTOR, its successors or assigns will pay the expense thereof; that all the <br /> covenants and agreements contained herein and in the PROMISSORY NOTE and LOAN CONTRACT <br /> shall extend to and be binding upon the successors or assigns of the respective parties hereto; and <br /> that the singular number shall include the plural, the plural the singular, and the use of any gender <br /> shall be applicable to all genders. <br /> Appendix 5 to Loan Contract C150392 <br /> Page 1 of 3 <br />