HomeMy WebLinkAbout1933 exercised any time hereafter no matter how often ~•ithout n~tice and without apecifying any reuson
therefor by flling for record among the land rec:orda where thia inatrument ia recorded a Deed of
Appointment, and thereupon all of the title and estate, powers, righte a d duttes ,ef he trustee thus '
superceded shall terminate and shall be vested in the successor truatee ~ trustees.. T~e Grantor and
the Trusteee herein named or that hereafter may be substituted hereunder expressly waive notice of
the exercise of this po~ver, the giving of bond by any trustee, and any requirement for application to
any Court for the removal, substitution or appointment of a trustee hereunder.
6. That each Trustee acting hereunder shall be paid a fee of Ten Dollars
10 . 00 ) for each document which he is required to execute under the terms of this Deed of Trust.
That his failure to perform any of his obligations under this Deed of Truat or under said
note shali constitute a default and all indebtedness secured hereby shall immediately become due and
payable at the option of the holder of said note. Any time thereafter. at the request of the holder of
said note, the Trustees shall have the power and it shall be their duty to sell said land ar~d premises or any
part thereof at public auction, in such manner, at such time and place, upon such terms and conditions,
and upon such public notice as the Truatees may deem best for the interest of all concerned, consisting
of ad~ ertisement in a ne~vspaper of general circulation in the county or city in ~vhich the security ~
property is located for at lexst once a~veek for two successive weeks or for such period as applicable
la~v may require and, in case of default of any gurchaser, to re-sell with such postponement of sale or
re-sale and upon such public notice thereof as the Trustees may determine, and upon compliance by
the purchaser with the terms of sale, and upon judicial approval as may be required by la~v. convey
caid land and premises in fee simple to and at the cost of the purchaser~ who shall not be liable to see
to the application of the purchase money; and from the proceeda of sale: FIRST, to pay all pmper
costs and charges, including but not limited to court costs. advertising expenses, auctioneer's allowance~
the expenses, if any, required to correct any irregularity in the title, premium for Trustees' bond~
auditor's fee, attorney's fee, and all other expenses of sale incurred in and about the protection and
execution of this trust, and all moneys advanced for taxes, assessments. insurance, and with interest
thereon as provided herein, and all taxes due upon said land and premises at time of sale, and to retain
as compensation a commission of five percent (5%) on the amount of said sale or sales; SECOND.
to pay the whole amount the~j remaining unpaid of the principal of said note, and interest thereon to
date of pay~nent, whether the same shall be due or not~ it being understood and agreed that upon such
sale before maturity of the note the balance thereof shall be immediately due and payable; THIRD, to
pay liens of record against the security property according to their priority of lien and to the extent
that funds remaining in the hands of the Trustees are available; and LAST, to pay the remainder of
said prceeeds, if any. to the Grantor, his heirs, personal representatives, successors or assigns upon
the delivery and surrender to the purchaser of possession of the said land and premises, less costs and
expenses of obtaining possession.
8. That if the security property shall be ad~ertised for sale, as hereinabove provided, and not
sold, he will pay all costs in connection therewith including, but not limited to advertising, attorney's
fees and a Trustees' commission of 21/z% of the then unpaid principal balance of the indebtedness, and
the same shall be secured in like manner as other charges and expenses relating to the execution of this
trust and bear interest at the rate stated in said note. -
9. That he warrants specially the property herein conveyed and that he will execute such further `
assurances thereof as may be requisite. ~
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The provisions of this Deed of Trust shall be binding upon and inure to the benefit of Grantor. ~
his heirs, personal representativea, successors and assigns, the Trustees and any successor, or substitute ~
trustee or trustees, and the holder of the note hereby secured. Whenever used herein. the singular shall s
include the plural, the plural #he singular, and the use of any gender shall be applicable to all genders. i
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~~2riP~B the follo~ving signatures and seals. #
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