Common use of Non-Judicial Foreclosure Clause in Contracts

Non-Judicial Foreclosure. Upon the occurrence of an Event of Default, Lender may, at its option, and in addition to any and every other remedy, request Trustee to proceed with foreclosure (which request shall be presumed), and in such event Trustee is hereby authorized and empowered and it shall be its special duty, upon such request of Lender, to (a) sell the Secured Property, or any part thereof, at public venue to the highest bidder, for cash, and at such place as may be permitted or allowed by applicable law, after advertising or posting the time, place and terms of said sale in any manner permitted or allowed by applicable law, or (b) sell the Secured Property at such other time, place and in accordance with such procedures and requirements as may be permitted or allowed by the laws of the District of Columbia. Grantor agrees that either Lender or Trustee may determine the length of notice and terms of sale. In addition to any advertisement or posting of the notice of the time, place and terms of sale, the holder of the indebtedness hereby secured shall at least thirty (30) days preceding the date of sale serve or cause to be served written notice of the proposed sale by certified mail, return receipt requested, on Grantor according to the records of such holder, with a copy of such notice delivered to the Mayor of the District of Columbia or his designated agent. Service of such notice shall be completed upon receipt by the Mayor of the District of Columbia in accordance with applicable law. The affidavit of any person having knowledge of the facts to the effect that such a service was completed shall be prima facie evidence of the fact of service. Grantor agrees that no notice of any sale other than as set out in this paragraph need be given by Trustee, Lender or any other person; provided that, any statutorily required notice of sale given to Grantor shall satisfy the notice requirements of this paragraph. Any sale made by Trustee hereunder may be as an entirety or in such parcels as Trustee may elect or as Lender may request, and any sale may be adjourned by announcement at the time and place appointed for such sale without further notice except as may be required by law. The sale by Trustee of less than the whole of the Secured Property shall not exhaust the power of sale herein granted, and Trustee is specifically empowered to make successive sale or sales under such power until the whole of the Secured Property shall be sold; and, if the proceeds of such sale of less than the whole of the Secured Property shall be less than the aggregate of the indebtedness secured hereby and the expanse of executing this trust as provided herein, this Deed of Trust and the Lien hereof shall remain in full force and effect as to the unsold portion of the Secured Property just as though no sale had been made; provided, however, that Grantor shall never have any right to require the sale of less than the whole of the Secured Property, but Lender and Trustee shall have the right, at their sole election, to sell less than the whole of the Secured Property. After each sale, Trustee shall execute and deliver to the purchaser or purchasers at such sale a deed or deeds conveying the property so sold without any covenant or warranty whatsoever, express or implied, and shall receive the proceeds of said sale or sales and apply the same as herein provided. The power of sale granted herein shall not be exhausted by any sale held hereunder by Trustee or its substitute or successor, and such power of sale may be exercised from time to time and as many times as Lender or Trustee may deem necessary until all of the Secured Property has been duly sold or all of said Secured Debt has been fully paid. In the event any sale hereunder is not completed or is defective in the reasonable opinion of Lender or Trustee, such sale shall not exhaust the power of sale hereunder and Lender or Trustee shall have the right to cause a subsequent sale or sales to be made hereunder. Any and all statements of fact or other recitals made in any deed or deeds given by Trustee or any successor or substitute appointed hereunder as to nonpayment of the indebtedness secured hereby or as to the occurrence of any Event of Default, or as to Lender having declared all of such indebtedness to be due and payable, or as to the request to sell, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to the refusal, failure or inability to act of Trustee or any substitute or successor, or as to the appointment of any substitute or successor trustee, or as to any other act or thing having been duly done by Xxxxxx or by such Trustee, substitute or successor, shall be taken as prima facie evidence of the truth of the facts so stated and recited. Trustee, its successor or substitute, may appoint or delegate any one or more Persons as agent to perform any ministerial act or acts necessary or incident to any sale held by Trustee, including, without limitation, the posting of notices but in the name and on behalf of Trustee, its successor or substitute.

Non-Judicial Foreclosure. Upon the occurrence Should Beneficiary elect to foreclose by exercise of an Event of Default, Lender may, at its option, and in addition to any and every other remedy, request Trustee to proceed with foreclosure (which request shall be presumed), and in such event Trustee is hereby authorized and empowered and it shall be its special duty, upon such request of Lender, to (a) sell the Secured Property, or any part thereof, at public venue to the highest bidder, for cash, and at such place as may be permitted or allowed by applicable law, after advertising or posting the time, place and terms of said sale in any manner permitted or allowed by applicable law, or (b) sell the Secured Property at such other time, place and in accordance with such procedures and requirements as may be permitted or allowed by the laws of the District of Columbia. Grantor agrees that either Lender or Trustee may determine the length of notice and terms of sale. In addition to any advertisement or posting of the notice of the time, place and terms of sale, the holder of the indebtedness hereby secured shall at least thirty (30) days preceding the date of sale serve or cause to be served written notice of the proposed sale by certified mail, return receipt requested, on Grantor according to the records of such holder, with a copy of such notice delivered to the Mayor of the District of Columbia or his designated agent. Service of such notice shall be completed upon receipt by the Mayor of the District of Columbia in accordance with applicable law. The affidavit of any person having knowledge of the facts to the effect that such a service was completed shall be prima facie evidence of the fact of service. Grantor agrees that no notice of any sale other than as set out in this paragraph need be given by Trustee, Lender or any other person; provided that, any statutorily required notice of sale given to Grantor shall satisfy the notice requirements of this paragraph. Any sale made by Trustee hereunder may be as an entirety or in such parcels as Trustee may elect or as Lender may request, and any sale may be adjourned by announcement at the time and place appointed for such sale without further notice except as may be required by law. The sale by Trustee of less than the whole of the Secured Property shall not exhaust the power of sale herein grantedcontained, Beneficiary shall notify Trustee and shall deposit with Trustee is specifically empowered to make successive sale or sales under such power until the whole of the Secured Property shall be sold; and, if the proceeds of such sale of less than the whole of the Secured Property shall be less than the aggregate of the indebtedness secured hereby and the expanse of executing this trust as provided herein, this Deed of Trust and the Lien hereof shall remain in full force Note and effect such receipts and evidence of expenditures made and secured hereby as Trustee may require. To the extent the obligation secured hereby arises from a commitment of Beneficiary to make future advances either to Trustor or a third party or extend credit subsequent to the unsold portion recordation of a Notice of Default hereunder, the Secured Property just sums secured hereby shall also include the amount of such commitment to make future advances or extend credit, and subject to acceleration as though no sale had been made; provided, however, that Grantor shall never have any right to require provided in the sale of less than the whole of the Secured Property, but Lender and previous paragraph. The Trustee shall have pay such amount at such time as it pays all other sums secured hereby and the rightBeneficiary shall hold same as additional collateral for the obligation secured hereby, at their sole election, such interest as is available to sell less than the whole Beneficiary's customers in an insured deposit account with no restrictions on withdrawal. 10.4.1 Upon receipt of the Secured Property. After each salesuch notice from Beneficiary, Trustee shall execute cause to be recorded, mailed or delivered to Trustor such notice of default and election to sell as is then required by law and by this Deed of Trust. Trustee shall, without demand on Trustor, after lapse of such time as may then be required by law and after recordation of such notice of default and after notice of sale has been given as required by law, sell the Trust Estate at time and place of sale fixed by it in such notice of sale, either as a whole, or in separate lots or parcels, and in such order as it may determine, at public auction, to the highest bidder for cash in lawful money of the United States payable at the time of sale. If the Property consists of more than one lot or parcel, the lots or parcels may be sold separately, together or in any combination, and in such order as Beneficiary determines, at the sole discretion of the Beneficiary. Trustor waives the right to direct the order in which the Property may be sold when it consists of more than one lot or parcel. Trustee shall deliver to the such purchaser or purchasers at such sale a thereof its good and sufficient deed or deeds conveying the property so sold sold, but without any covenant or warranty whatsoeverwarranty, express or implied. The recitals in such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including without limitation Trustor, Trustee or Beneficiary, may purchase at such sale and Trustor hereby covenants to warrant and defend the title of such purchaser or purchasers. If allowed by law, Beneficiary, if it is the purchaser, may turn in the Note at the amount owing thereon toward payment of the purchase price (or for endorsement of the purchase price as a payment on the Note if the amount owing thereon exceeds the purchase price). Trustor hereby expressly waives any right of redemption after sale that Trustor may have at the time of sale or that may apply to the sale. 10.4.2 After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title in connection with sale, Trustee shall receive apply the proceeds of said sale to payment of: all sums expended under the terms hereof, not then repaid, with accrued interest at the amount allowed by law in effect at the date hereof; all other sums then secured hereby; and the remainder, if any, to the person or sales persons legally entitled thereto. 10.4.3 Trustee may postpone sale of all or any portion of the Trust Estate by public announcement at such time and apply the same as herein provided. The power place of sale granted herein shall not be exhausted by any sale held hereunder by Trustee or its substitute or successorsale, and such power of sale may be exercised from time to time thereafter may postpone such sale by public announcement at the time fixed by the preceding postponement or by subsequently noticed sale, and as many times as Lender without further notice make such sale at the time fixed by the last postponement; or Trustee may, in its discretion, give a new notice of sale. Beneficiary may deem necessary until all rescind any such notice of default at any time before Trustee's sale by executing a notice of rescission and recording the Secured Property has been duly sold or all same. The recordation of said Secured Debt has been fully paid. In the event any sale hereunder is not completed or is defective in the reasonable opinion of Lender or Trustee, such sale notice shall not exhaust the power of sale hereunder and Lender or Trustee shall have the right to cause constitute a subsequent sale or sales to be made hereunder. Any and all statements of fact or other recitals made in any deed or deeds given by Trustee or any successor or substitute appointed hereunder as to nonpayment of the indebtedness secured hereby or as to the occurrence cancellation of any Event prior declaration of Default, or as to Lender having declared all of such indebtedness to be due default and payable, or as to the request to sell, or as to notice of time, place and terms of demand for sale and of any acceleration of maturity of the properties Indebtedness effected by any prior declaration or notice of default. The exercise by Beneficiary of the right of rescission shall not constitute a waiver of any default and demand for sale, or notices of default and of election to cause the Property to be sold having been duly givensold, nor otherwise affect the Note or this Deed of Trust, or as to the refusal, failure or inability to act of Trustee or any substitute or successor, or as to the appointment of any substitute or successor trustee, or as to any other act or thing having been duly done by Xxxxxx or by such Trustee, substitute or successor, shall be taken as prima facie evidence of the truth rights, obligations or remedies of the facts so stated and recited. Trustee, its successor Beneficiary or substitute, may appoint or delegate any one or more Persons as agent to perform any ministerial act or acts necessary or incident to any sale held by Trustee, including, without limitation, the posting of notices but in the name and on behalf of Trustee, its successor or substituteTrustee hereunder.

Non-Judicial Foreclosure. Upon If the occurrence of an Event of DefaultNote or other Obligations ------------------------ are not paid when due, Lender maywhether by acceleration or otherwise, at its option, and in addition to any and every other remedy, request Trustee to proceed with foreclosure (which request shall be presumed), and in such event the Trustee is hereby authorized and empowered empowered, and it shall be its special duty, upon such request of LenderBeneficiary, to (a) sell the Secured Property, or any part thereof, at public venue and to the highest bidder, for cash, and at such place as may be extent permitted or allowed by applicable law, after advertising to sell any part of the Realty Collateral at one or posting the timemore sales, as an entirety or in parcels, at such place or places and terms of said sale otherwise in any such manner permitted or allowed and upon such notice as may be required by applicable law, or (b) sell in the Secured Property absence of any such requirement, as Trustee and/or Beneficiary may deem appropriate, and to make conveyance to the purchaser or purchasers thereof. Any sale shall be made to the highest bidder for cash at the door of the county courthouse of, or in such other time, place and in accordance with such procedures and requirements as may be required or permitted by applicable law in, the county in the state where the Realty Collateral or allowed by any part thereof is situated; provided that and -------- if the laws Realty Collateral lies in more than one county, such part of the District Realty Collateral may be sold at the courthouse door of Columbia. Grantor agrees that either Lender or Trustee may determine the length any one of notice such counties, and terms of sale. In addition to any advertisement or posting of the notice of the time, place and terms of sale, the holder of the indebtedness hereby secured so posted shall designate in which county such property shall be sold. Any such sale shall be made at least thirty (30) days preceding the date of sale serve or cause to be served written notice of the proposed sale by certified mail, return receipt requestedpublic outcry, on Grantor according to the records day of any month, during the hours of such holderday and after such written notices thereof have been publicly posted in such places and for such time periods and after all persons entitled to notice thereof have been sent such notice, with a copy all as required by applicable law in effect at the time of such notice delivered to the Mayor of the District of Columbia or his designated agent. Service of such notice shall be completed upon receipt by the Mayor of the District of Columbia in accordance with applicable lawsale. The affidavit of any person having knowledge of the facts to the effect that such a service was completed shall be prima facie evidence of the fact of service. Grantor The Trustor agrees that ----- ----- no notice of any sale sale, other than as set out in this paragraph required by applicable law, need be given by Trusteethe Trustor, Lender the Beneficiary or any other person. The Trustor hereby designates as its address for the purposes of such notice the address set out on page two hereof; provided that, any statutorily required and agrees that such address shall be changed only by depositing notice of sale such change enclosed in a postpaid wrapper in a post office or official depository under the care and custody of the United States Postal Service, certified mail, postage prepaid, return receipt requested, addressed to the Beneficiary or other holder of the Obligations at the address for the Beneficiary set out herein (or to such other address as the Beneficiary or other holder of the Obligations may have designated by notice given as above provided to Grantor shall satisfy the notice requirements of this paragraphTrustor and such other debtors). Any sale made by such notice or change of address of the Trustor or other debtors or of the Beneficiary or of other holder of the Obligations shall be effective upon receipt. The Trustor authorizes and empowers the Trustee hereunder may be as an entirety to sell the Realty Collateral in lots or parcels or in such parcels its entirety as Trustee may elect or as Lender may request, and any sale may be adjourned by announcement at the time and place appointed for such sale without further notice except as may be required by law. The sale by Trustee of less than the whole of the Secured Property shall not exhaust the power of sale herein granted, and Trustee is specifically empowered to make successive sale or sales under such power until the whole of the Secured Property shall be sold; and, if the proceeds of such sale of less than the whole of the Secured Property shall be less than the aggregate of the indebtedness secured hereby and the expanse of executing this trust as provided herein, this Deed of Trust and the Lien hereof shall remain in full force and effect as to the unsold portion of the Secured Property just as though no sale had been made; provided, however, that Grantor shall never have any right to require the sale of less than the whole of the Secured Property, but Lender and Trustee shall have the right, at their sole election, deem expedient; and to sell less than the whole of the Secured Property. After each sale, Trustee shall execute and deliver to the purchaser or purchasers at such sale a deed or thereof good and sufficient deeds conveying of conveyance thereto by fee simple title, with evidence of general warranty by the property so sold without any covenant or warranty whatsoever, express or impliedTrustee, and shall receive the proceeds title of said sale such purchaser or purchasers when so made by the Trustee, the Trustor binds itself to warrant and forever defend. Where portions of the Realty Collateral lie in different counties, sales and apply the same as herein provided. The power of sale granted herein shall not be exhausted by any sale held hereunder by Trustee or its substitute or successor, and in such power of sale counties may be exercised from time to time and as many times as Lender or conducted in any order that the Trustee may deem necessary until all of the Secured Property has been duly sold or all of said Secured Debt has been fully paid. In the event any sale hereunder is not completed or is defective in the reasonable opinion of Lender or Trustee, such sale shall not exhaust the power of sale hereunder expedient; and Lender or Trustee shall have the right to cause a subsequent sale or sales to be made hereunder. Any and all statements of fact or other recitals made in any deed or deeds given by Trustee or any successor or substitute appointed hereunder as to nonpayment of the indebtedness secured hereby or as to the occurrence of any Event of Default, or as to Lender having declared all of such indebtedness to be due and payable, or as to the request to sell, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to the refusal, failure or inability to act of Trustee or any substitute or successor, or as to the appointment of any substitute or successor trustee, or as to any other act or thing having been duly done by Xxxxxx or by such Trustee, substitute or successor, shall be taken as prima facie evidence of the truth of the facts so stated and recited. Trustee, its successor or substitute, may appoint or delegate any one or more Persons as agent to perform any ministerial act or acts necessary or incident to any sale held by Trustee, including, without limitation, the posting of notices but such sales may be conducted in the name and on behalf of Trusteesame month, its successor or substitutein successive or different months as the Trustor may deem expedient.

Non-Judicial Foreclosure. Upon Without diminishing or limiting the remedies set forth in Article VII hereof, Grantee may institute a non-judicial foreclosure pursuant to power of sale in accordance with Official Code of Georgia § 00-00-000 et seq., and other applicable laws, as amended, modified and/or superseded from time, with or without taking possession thereof, in accordance with the following: upon the occurrence and during the continuance of an Event of Default, Lender may, at its option, and in addition to any and every other remedy, request Trustee to proceed with foreclosure (which request shall be presumed), and in such event Trustee is hereby authorized and empowered and it shall be its special duty, upon such request of Lender, to (a) sell the Secured Property, Property or any part thereofof the Property at one or more public sale or sales at the usual place for conducting sales of the county in which the Property or any part of the Property is situated, at public venue to the highest bidder, bidder for cash, in order to pay the Obligations, and at such place as may be permitted or allowed by applicable lawall expenses of sale and of all proceedings in connection therewith, including reasonable attorney’s fees, after advertising or posting the time, place and terms of sale once a week for four (4) weeks immediately preceding such sale (but without regard to the number of days between the date on which the first such notice is published and the date on which such sale commences) in a newspaper in which sheriff’s sales are advertised in said county. Such advertisement so published shall be notice to Grantor, all other notice being hereby expressly waived by Grantor. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property (or interest therein) in fee simple, or to the full extent of Grantor’s interest therein, with full warranties of title (or without warranties if the Grantee shall so elect), and to this end, upon the occurrence and during the continuance of an Event of Default, Grantor hereby constitutes and appoints Grantee the agent and attorney-in-fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title, equity and equity of redemption that Grantor may have in and to the Property (or such part or lot thereof or interest therein) and to vest the same in the purchaser or purchasers at such sale or sales, and all acts and doings of said agent and attorney-in-fact are hereby ratified and confirmed, and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding and conclusive upon Grantor and shall be presumptive evidence that all preliminary acts prerequisite to any such sale and conveyance were in all aspects duly complied with. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by applicable laws for collection of the Obligations secured hereby and shall not be exhausted by one exercise thereof but may be exercised multiple times until full payment of all of the Obligations secured hereby. In the event of any such foreclosure sale under this Deed to Secure Debt by virtue of exercise of the powers herein granted, or pursuant to any order in any judicial proceedings or in any other manner permitted or allowed by applicable law, or (b) sell the Secured Property at such other time, place and in accordance with such procedures and requirements as may at any time be permitted or allowed by authorized under the laws of the District State of Columbia. Grantor agrees that either Lender or Trustee may determine the length of notice and terms of sale. In addition to any advertisement or posting of the notice of the time, place and terms of saleGeorgia, the holder of the indebtedness hereby secured shall at least thirty (30) days preceding the date of sale serve or cause to be served written notice of the proposed sale by certified mail, return receipt requested, on Grantor according to the records of such holder, with a copy of such notice delivered to the Mayor of the District of Columbia or his designated agent. Service of such notice shall be completed upon receipt by the Mayor of the District of Columbia in accordance with applicable law. The affidavit of any person having knowledge of the facts to the effect that such a service was completed shall be prima facie evidence of the fact of service. Grantor agrees that no notice of any sale other than as set out in this paragraph need be given by Trustee, Lender or any other person; provided that, any statutorily required notice of sale given to Grantor shall satisfy the notice requirements of this paragraph. Any sale made by Trustee hereunder Property may be sold as an entirety or in separate parcels and in such parcels manner or order as Trustee Grantee in its discretion may elect or as Lender may requestelect, and if Grantee so elects, Grantee may sell the personal property covered by this Deed to Secure Debt at one or more separate sales in any manner permitted by the UCC, and one or more exercises of the powers herein granted shall not extinguish nor exhaust such powers, until the entire Property are sold or the Obligations are paid in full. If the Debt is now or hereafter further secured by any chattel mortgages, pledges, contracts of guaranty, assignments of lease or other security instruments, Grantee may at its option exhaust the remedies granted under any of said security either concurrently or independently, Grantee may determine in its discretion. In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to provisions of laws applicable to tenants holding over. In addition to and cumulative of the remedies provided in this Section 16.05, the Grantee may foreclose or cause to be foreclosed the lien, security title and security interest of this Deed to Secure Debt, in whole or in part, through judicial foreclosure or in any other manner as may at any time be authorized under the laws of the State. Grantee may adjourn from time to time any sale may by it to be adjourned made under or by virtue of this Deed to Secure Debt by announcement at the time and place appointed for such sale or for such adjourned sale or sales to the fullest extent permitted by applicable laws; and, except as otherwise provided by any provision of applicable laws, Grantee, without further notice except as or publication, may make such sale at the time and place to which the same shall be required by lawso adjourned. The sale by Trustee Upon the completion of less than the whole of the Secured Property shall not exhaust the power of sale herein granted, and Trustee is specifically empowered to make successive any sale or sales by Grantee, under such power until the whole or by virtue of the Secured Property shall be sold; andthis Section 16.05, if the proceeds Grantee, or an officer of such sale of less than the whole of the Secured Property shall be less than the aggregate of the indebtedness secured hereby and the expanse of executing this trust as provided hereinany court empowered to do so, this Deed of Trust and the Lien hereof shall remain in full force and effect as to the unsold portion of the Secured Property just as though no sale had been made; provided, however, that Grantor shall never have any right to require the sale of less than the whole of the Secured Property, but Lender and Trustee shall have the right, at their sole election, to sell less than the whole of the Secured Property. After each sale, Trustee shall execute and deliver to the accepted purchaser or purchasers at a good and sufficient instrument, or good and sufficient instruments, conveying, assigning and transferring all estate, right, title and interest in and to the property and rights sold. Grantee is hereby irrevocably appointed the true and lawful attorney of Grantor, in its same and stead, to make all necessary conveyances, assignments, transfers and deliveries of the Property or parts, lots or interests thereof or therein and rights so sold and for that purpose Grantee may execute all necessary instruments of conveyance, assignment and transfer, and may substitute one or more persons with like power, Grantor hereby ratifying and confirming all that its said attorney or such substitute or substitutes shall lawfully do by virtue hereof. Any such sale or sales made under or by virtue of this Section 16.05, whether made under the power or sale herein granted or under or by virtue of judicial proceedings or of a deed judgment or deeds conveying decree of foreclosure and sale, shall operate to divest all the property so sold without any covenant or warranty estate, right, title, interest, claim and demand whatsoever, express whether at law or impliedin equity, of Grantor in and to the properties and rights so sold, and shall receive be a perpetual bar both at law and in equity against Grantor and against any and all persons claiming or who may claim the proceeds of said sale same, or sales and apply the same as herein providedany part thereof from, through or under Grantor. The power of sale granted herein shall not be exhausted by Upon any sale held hereunder made under or by Trustee virtue of this Section 16.05 (whether made under the power or sale herein granted or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale) Grantee may bid for and acquire the Property or any part or lot thereof (or any interest in any of the foregoing) and in lieu of paying cash therefor may make settlement for the purchase price by crediting upon the Obligations the net sales price after deducting therefrom the expenses of the sale and the costs of the action and any other sums which Grantee is authorized to deduct under this Deed to Secure Debt and in accordance with applicable laws, and in such event, this Deed to Secure Debt, and the other documents evidencing expenditures secured by this Deed to Secure Debt may be presented to the person or persons conducting such sale in order that the amount so used or applied may be credited against the Obligations as having been paid. No recovery of any judgment by Grantee and no levy of an execution under any judgment upon the Property or any part or lot thereof (or any interest in any of the foregoing) or upon any other property of Grantor shall affect in any manner or to any extent, the liens and security titles of this Deed to Secure Debt upon the Property or any part or lot thereof (or interest in any of the foregoing) or any liens, security titles, rights, powers and remedies of Grantee hereunder, but such liens, security titles, rights, powers and remedies of Grantee shall continue unimpaired as before. Grantor agrees to the fullest extent permitted by applicable laws, that upon the occurrence of an Event of Default, neither Grantor nor anyone claiming through or under it shall or will set up, claim or seek to take advantage of any appraisement, valuation, stay, extension, homestead, exception or redemption laws now or hereafter in force, in order to prevent or hinder the enforcement or foreclosure of this Deed to Secure Debt, or the absolute sale of the Property or any part of lot thereof (or any interest in any of the foregoing), or the final and absolute putting into possession thereof, immediately after such sale, of the purchasers thereat, and Grantor, for itself and all who may at any time claim through or under it, hereby waives to the full extent that it may lawfully so do, the benefit of all such laws, and any and all right to have the assets comprised in the security intended to be created hereby marshaled upon any foreclosure of the lien or title hereof. Grantee, at its substitute option, is authorized to foreclose this Deed to Secure Debt and the failure to make any tenants of the Property parties to any such foreclosure proceedings and to foreclose their rights will not be, nor be asserted to be by Grantor, a defense to any proceedings instituted by Grantee to collect the sums secured hereby. In case Grantee shall have proceeded to enforce any right, power or successorremedy under this Deed to Secure Debt by foreclosure, entry or otherwise or in the event Grantee commences advertising of the intended exercise of the sale under power provided hereunder, and such power proceeding or advertisement shall have been withdrawn, discontinued or abandoned for any reason, then in every such case (i) Grantor and Grantee shall be restored to their former positions and rights, (ii) all rights, powers and remedies of sale Grantee shall continue as if no such proceeding had been taken, (iii) each and every Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance or abandonment shall be deemed to be a continuing Event of Default (unless the same shall have been cured by or on behalf of Grantor, or shall have been expressly waived or withdrawn by Grantee), and (iv) neither this Deed to Secure Debt, nor any other Loan Document nor the Debt shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule or law now provided, or which may hereafter be exercised from time provided, which would produce a result contrary to time and as many times as Lender or Trustee may deem necessary until all of the Secured Property has been duly sold or all of said Secured Debt has been fully paidin conflict with this sentence. In the event that Grantor or any person claiming by, through or under Grantor shall transfer or fail to surrender possession of the Property after any sale hereunder is not completed thereof, then Grantor or is defective in the reasonable opinion of Lender or Trustee, such sale person shall not exhaust the power of sale hereunder and Lender or Trustee shall have the right to cause a subsequent sale or sales to be made hereunder. Any and all statements of fact or other recitals made in any deed or deeds given by Trustee or any successor or substitute appointed hereunder as to nonpayment deemed tenant at sufferance of the indebtedness secured hereby or as purchaser at such sale, subject to the occurrence eviction by means of any Event of Defaultforcible entry and unlawful detainer proceedings, or as to Lender having declared all of such indebtedness to be due and payable, or as to the request to sell, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to the refusal, failure or inability to act of Trustee or any substitute or successor, or as to the appointment of any substitute or successor trustee, or as subject to any other act right or thing having been duly done by Xxxxxx remedy available, hereunder or by such Trustee, substitute or successor, shall be taken as prima facie evidence of the truth of the facts so stated and recited. Trustee, its successor or substitute, may appoint or delegate any one or more Persons as agent to perform any ministerial act or acts necessary or incident to any sale held by Trustee, including, without limitation, the posting of notices but in the name and on behalf of Trustee, its successor or substituteunder applicable law.

Non-Judicial Foreclosure. Upon During the occurrence continuance of an Event of Default, Lender may, at its option, and in addition Beneficiary may elect to any and every other remedy, request cause Trustee to proceed with foreclosure (which request shall be presumed)exercise the private power of sale hereunder. In such event, then upon the giving of notice of such Event of Default and of the time and place of sale in such event Trustee is hereby authorized and empowered and it shall be its special dutythe manner provided by law, upon such request of Lender, to (a) sell the Secured Property, or any part thereof, at public venue to the highest bidder, for cash, and at such place as Property may be permitted or allowed sold by applicable law, after advertising or posting Trustee in the time, place and terms of said sale in any manner permitted or allowed provided by applicable law, or (b) sell law under the Secured Property at such other time, place and in accordance with such procedures and requirements as may be permitted or allowed by the laws of the District of Columbia. Grantor agrees that either Lender or Trustee may determine the length of notice and terms of sale. In addition to any advertisement or posting of the notice of the time, place and terms of sale, the holder of the indebtedness hereby secured shall at least thirty (30) days preceding the date power of sale serve or cause to be served written notice of the proposed sale by certified mail, return receipt requested, on Grantor according to the records of such holder, with a copy of such notice delivered to the Mayor of the District of Columbia or his designated agent. Service of such notice shall be completed upon receipt by the Mayor of the District of Columbia in accordance with applicable law. The affidavit of any person having knowledge of the facts to the effect that such a service was completed shall be prima facie evidence of the fact of service. Grantor agrees that no notice of any sale other than as set out in this paragraph need be given by Trustee, Lender or any other person; provided that, any statutorily required notice of sale given to Grantor shall satisfy the notice requirements of this paragraphconferred hereby. Any sale made by Trustee hereunder may may, subject to applicable law, be as an entirety or in such parcels as Trustee may elect or as Lender Beneficiary may request, and any . Any sale may be adjourned by announcement at the time and place appointed for such sale without further notice except as may be required by law. The sale by Trustee of less than the whole of the Secured Property shall not exhaust the power of sale herein granted, and Trustee is specifically empowered to make successive sale or sales under such power until the whole of the Secured Property shall be sold; and, if the proceeds of such sale of less than the whole of the Secured Property shall be less than the aggregate of the indebtedness secured hereby Secured Obligations and the expanse expense of executing this trust and of conducting such sale as provided herein, this Deed of Trust Instrument and the Lien lien hereof shall remain in full force and effect as to the unsold portion of the Secured Property just as though no sale had been made; provided, however, that Grantor Trustor shall never have any right to require the sale of less than the whole of the Secured Property, Property but Lender and Trustee Beneficiary shall have the right, at their its sole election, to request Trustee to sell less than the whole of the Secured Property. After each Trustee may, after any request or direction by Beneficiary, sell not only the real property included within the definition of Property, but also any of the Personal Property Collateral and any other interests which are a part of the Property, or any part thereof, as a unit and as a part of a single sale, or may sell any part of the Property separately from the remainder of the Property. It shall not be necessary for Trustee shall execute and deliver to have taken possession of any part of the purchaser Property or purchasers to have present or to exhibit at such any sale a deed or deeds conveying any of the property so sold without any covenant or warranty whatsoever, express or implied, and shall receive the proceeds of said sale or sales and apply the same as herein providedPersonal Property Collateral. The power of sale granted herein shall not be exhausted by any sale held hereunder by Trustee or its substitute or successor, and such power of sale may be exercised from time to time and as many times as Lender or Trustee Beneficiary may deem necessary until all of the Secured Property has been duly sold or and all of said Secured Debt has Obligations have been fully paidpaid or satisfied. In the event any sale hereunder is not completed or is defective in the reasonable opinion of Lender or TrusteeBeneficiary, such sale shall not exhaust the power of sale hereunder and Lender or Trustee Beneficiary shall have the right to cause a subsequent sale or sales to be made hereunder. Any Beneficiary may at any time, for any reason or cause, remove the current Trustee and appoint a successor trustee without conveyance of the Property or the beneficial interest under this Instrument, and upon the recordation of a notice of substitution of trustee with the County Recorder of the county in which the Real Property is situated, such successor Trustee shall succeed to all statements of fact or other recitals made in any deed or deeds given by the title, power, authority and duties of the original Trustee pursuant to this Instrument and applicable law. If Trustee or his successor or substitute trustee shall have given notice of sale hereunder, any successor or substitute Trustee thereafter appointed hereunder as to nonpayment may complete the sale and the conveyance of the indebtedness secured hereby property pursuant thereto as if such notice had been given by the successor or as substitute Trustee conducting the sale. Beneficiary, if it is the highest bidder at any sale, shall have the right to purchase the Property and to have the amount for which such Property is sold credited on the debt then owing. Trustee shall deliver to the occurrence of purchaser at any Event of Defaultsuch sale a Trustee’s deed conveying the Property so sold without any covenant or warranty, expressed or as to Lender having declared all of such indebtedness to be due and payable, or as to implied. The recitals in the request to sell, or as to notice of time, place and terms of sale and of the properties to be sold having been duly given, or as to the refusal, failure or inability to act of Trustee or any substitute or successor, or as to the appointment of any substitute or successor trustee, or as to any other act or thing having been duly done by Xxxxxx or by such Trustee, substitute or successor, ’s deed shall be taken as prima facie evidence of the truth of the facts so stated statements made therein. Unless required otherwise under Arizona law, Trustee shall apply the proceeds of the sale in the following order: (i) to all costs and recited. Trustee, its successor or substitute, may appoint or delegate any one or more Persons as agent to perform any ministerial act or acts necessary or incident to any sale held by Trusteeexpenses of the sale, including, without limitationbut not limited to, Trustee’s and attorneys’ fees and costs of title evidence; (ii) to all sums secured by this Instrument in such order as Beneficiary, in Beneficiary’s sole discretion, directs; and (iii) the posting excess, if any, to the person or persons legally entitled thereto. In the event of notices but sale, Trustor, its successors and assigns shall immediately upon the completion of the sale, to the extent not prohibited by applicable law, surrender and deliver possession of the Property to the purchaser at such sale. In the event of Trustor’s failure to do so, it shall thereupon from and after the date of such sale be deemed by purchaser, at its option, to be a trespasser or tenant at will on such Property. Purchaser, at its option, shall then be entitled to institute and maintain an action for forcible detainer of such Property in any court of competent jurisdiction in the name and on behalf of Trusteecounty in which such Property, its successor or substituteany part thereof, is situated.