CONSTRUCTION DEED OF TRUST - Laserfiche WebLink

1 54983 Note and any additional note(s) and this Deed of Trust for endorsement, may reconvey any part of the property, join in granting any easement thereon, or join in any such agreement of extension or subordination. 4. Upon written request of Beneficiary and surrender of the Note and any additional note(s) and this Deed of Trust to Trustee for cancellation, and upon payment to Trustee of its fees and expenses, Trustee shall reconvey without warranty the property then held hereunder. The recitals in any reconveyance shall be conclusive proof of the truthfulness thereof and the grantee in any reconveyance may be described as "the person or persons legally entitled thereto." 5. Upon default in payment of any indebtedness or performance of any obligation hereby secured, or in the event that any representation or warranty contained herein or in any other document evidencing or securing the loan be or becomes untrue, or in the event of breach of any agreement contained herein or in any other document evidencing or securing the loan, Beneficiary without demand on or notice to Trustor may declare all sums hereby secured immediately due and payable, and may execute and record, or cause the Trustee to execute and record, a notice of default and election to cause the property to be sold to satisfy the obligations secured hereby, or may commence an appropriate action to foreclose this Deed of Trust, or may take any other action to enforce its rights and remedies hereunder as it may deem to be appropriate. After delivery to Trustee of the notice of default and demand for sale, and after such period of time as may then be required by law has elapsed after recordation of a notice of default, trustee shall give notice of sale as then required by law, and without demand on Trustor, shall sell said property at the time and place of sale fixed by it in said notice of sale at public auction to the highest bidder for cash in lawful money of the United States, payable at time of sale. Any person, including Trustor, Trustee or Beneficiary, may purchase at such sale. Upon such sale by Trustee it shall deliver to such purchaser its deed conveying the property so sold, but without any covenant or warranty expressed or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Upon sale by Trustee, and after deducting all costs, expenses and fees of Trustee and of this trust, Trustee shall apply the proceeds of sale to the payment of the principal indebtedness hereby secured, whether evidenced by the Note or any additional note(s) or otherwise, or representing advances made or costs or expenses paid or incurred by Beneficiary under this or any other instrument evidencing or securing any indebtedness hereby secured and to the payment of all other sums then secured hereby, including interest, if any, as provided in the Note or additional Note(s), all in such order as Beneficiary shall direct; and then the remainder if any, shall be paid to the person or persons legally entitled thereto. Beneficiary, in any action to foreclose upon this Deed of Trust, shall be entitled (without notice and without regard to the adequacy of any security for the debt) to the appointment of a receiver of the rents and profits of the property. Such receiver shall have all rights and powers customarily given to such receivers together with all rights and powers of the Beneficiary hereunder. 6. Upon default in payment of any indebtedness or performance of any obligation hereby secured, or in the event that foreclosure proceedings are commenced hereunder for any cause, Beneficiary at any time, without notice, demand or regard to the adequacy of any security for the indebtedness and obligations hereby secured, in person, or by any agent or employee, or by a c:HDGDT.EHI Page 5.