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25D - AGMT - ALLOCATION NSP 3
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25D - AGMT - ALLOCATION NSP 3
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1/3/2012 3:43:47 PM
Creation date
6/16/2011 12:29:31 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
25D
Date
6/20/2011
Destruction Year
2016
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EXHIBIT C <br />Upon receipt of such notice from the Beneficiary, Trustee shall cause to be <br />recorded, published and delivered to Trustor such notice of default and <br />election to sell as then required by law and by this Deed of Trust. Trustee <br />shall, without demand on Trustor, after lapse of such time as may then be <br />required by law and after recordation of such notice of default and after <br />notice of sale having been given as required by law, sell the Property, at <br />the time and place of sale fixed by it in said notice of sale, either as a <br />whole or in separate lots or Property or items as Trustee shall deem <br />expedient and in such order as it may determine, at public auction to the <br />highest bidder, for cash in lawful money of the United States payable at <br />the time of sale. Trustee shall deliver to such purchaser or purchasers <br />thereof its good and sufficient deed or deeds conveying the property so <br />sold, but without any covenant or warrant, express or implied. The recitals <br />in such deed of any matters or facts shall be conclusive proof of the <br />truthfulness thereof. Any person, including, without limitation, Trustor, <br />Trustee or Beneficiary, may purchase at such sale, and Trustor hereby <br />covenants to warrant and defend the title of such purchase or purchases. <br />ii. After deducting all reasonable costs, fees and expenses of Trustee, <br />including costs of evidence of title in connection with such sale, Trustee <br />shall apply the proceeds of sale to payment of (i) the Note Amount;(ii) all <br />other sums then secured hereby; and (iii) the remainder, if any, to the <br />person or persons legally entitled thereto. <br />iii. Trustee may postpone sale of all or any portion of the Property by public <br />announcement at such time and place of sale, and from time to time <br />thereafter, and without further notice make such sale at the time fixed by <br />the last postponement, or may in its discretion, give a new notice of sale. <br />5. Receiver. If an Event of Default shall have occurred and be continuing, Beneficiary, as a <br />matter of right and without further notice to Trustor or anyone claiming under Security, and <br />without regard to the then value of the Property or the interest of Trustor therein, shall have the <br />right to apply to any court having jurisdiction to appoint a receive or receivers of the Security (or <br />a part thereof), and Trustor hereby irrevocably consents to such appointment and waives further <br />notice of any application therefor. Any such receiver or receivers shall have all the powers and <br />duties of receivers in like or similar cases, and all the powers and duties of Beneficiary in case of <br />entry as provided herein, and shall continue as such and exercise all such powers until the date of <br />confirmation of sale of the Property, unless such receivership is sooner terminated. <br />6. Remedies Cumulative. No right, power or remedy conferred upon or reserved to the <br />Beneficiary by this Deed of Trust is intended to be exclusive of any other right, power or <br />remedy, but each and every such right, power and remedy shall be cumulative and concurrent <br />and shall be in addition to any other right, power and remedy given hereunder or now or <br />hereafter existing at law or in equity. <br />7. No Waiver. <br />City.HO.DOT Page 9 of 13 2/8/10 <br />EXHIBIT 1 <br />25D-48
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