|
<br />expired, make and execute to such person a deed to the Property purchased, which said deed shall be
<br />in the ordinary form of a conveyance, and shall be signed, acknowledged and delivered by the said
<br />PUBLIC TRUSTEE and shall convey and quitclaim to such person entitled to such deed, the Property
<br />purchased as aloresaid and all the right, title, interest, benelit and equity of redemption of the
<br />GRANTOR, its successors and assigns made therein, and shall recite the sum lor which the said f)
<br />Property was sold and shall refer to the power of sale therein contained, and to the sale made by virtue U
<br />thereof; and in case of an assignment of such certificate of purchase, or in case of the redemption of
<br />the Property, by a subsequent encumbrance, such assignment or redemption shall also be referred to
<br />in such deed; but the notice of sale need not be set outin such deed and the PUBLIC TRUSTEE shall,
<br />out of the proceeds or avails of such sale, after first paying and retaining all fees, charges and costs of
<br />making said sale, pay to the beneficiary hereunder the principal and interest due on said note
<br />according to the tenor and effect thereof, and all moneys advanced by such beneficlaf'j or legal holder
<br />of said note lor insurance, taxes and assessments, with interest thereon at ten per cent per annum,
<br />rendering the surplus, if any, unto the GRANTOR, its legal representatives or assigns; which sale and
<br />said deed so made shall be a perpetual bar, both in law and equity, against the GRANTOR, its
<br />successors and assigns, and all other persons claiming the Property, or any part thereof, by, from,
<br />through or under the GRANTOR, or any of them, The holder of said note may purchase Property or any
<br />part thereof; and it shall not be obligatof'j upon the purchaser at any such sale to see to the application
<br />of the purchase money.
<br />
<br />And the GRANTOR, lor itself and its successors or assigns covenants and agrees to and with the
<br />PUBLIC TRUSTEE, that at the time of the unsealin of . . 0
<br />pe In ee simple, and has good right, full power and lawful authority to grant, bargain, sell and
<br />convey the same in the manner and form as aforesaid; and that the same is free arid clear of all liens
<br />and encumbrances whatever, and the above bargained Property in the quiet and peaceable
<br />possession of the PUBLIC TRUSTEE, its successors and assigns, against all and every person or
<br />persons lawfully claiming or to claim the whole or any part thereof, the GRANTOR shall and will Warrant
<br />and Forever Defend.
<br />
<br />Until payment in full 01 the indebtedness, the GRANTOR shall timely pay all taxes and
<br />assessments levied on the Property; any and all amounts due on account of principal and interest or
<br />other sums on any senior encumbrances, if any. Should the Grantor fail to pay taxes Or assessments
<br />as the same fall due, or to pay any amounts payable upon senior encumbrances, if any, the benefiCiary
<br />may make any such payments, and all monies so paid with interest thereon at the rate of ten percent
<br />(10%) per annum shall be added to and become a part of the indebtedness secured by this Deed of
<br />Trust and may be paid out of the proceeds of the sale of the Property if not paid by the GRANTOR. In
<br />addition, and at its option, the beneficiary may declare the indebtedness secured hereby and this Deed
<br />of Trust to be in delault for lailure to make any further payments required by this paragraph. In the
<br />event of the sale or transfer of the Property, the beneficiary, at its option, may declare the entire
<br />balance of the note immediately due and payable.
<br />
<br />And that in case of any default, whereby the right of foreclosure occurs hereunder, the PUBLIC
<br />TRUSTEE, the State as holder of the note, or the holder of a certificate of purchase, shall at once
<br />become entitled to the possession, use and enjoyment of the Property aforesaid, and to the rents,
<br />issues and profits thereof, from the accruing of such right and during the pendency of foreclosure
<br />proceedings and the period of redemption, if any there be, and such possession shall at once be
<br />delivered to the PUBLIC TRUSTEE, the State as holder of the note, or the holder of said certificate of
<br />purchase on request and on refusal, the delivery of the Property may be enforced by the PUBliC
<br />TRUSTEE, the State as holder of the note, or the holder of said certificate of purchase by an appropriate
<br />civil suitor proceeding, and the PUBLIC TRUSTEE, or the holder of said note or certificate of purchase, or
<br />
|