Common use of Substitute Trustee Clause in Contracts

Substitute Trustee. Beneficiary may, without notice to any party to this Deed of Trust and Security Agreement, or to the successors or assigns, and without regard to the willingness or inability of Trustee to act, or to execute this trust, appoint another person or succession of persons to act as Trustee herein, and such appointee or substitute shall have all the title, authority and powers in the execution of this trust as are vested in Trustee. If Beneficiary be a corporation such appointment may be made by any one of its officers or agents. No single exercise of this power of appointment, the power of sale, or any other power or right given in this Deed of Trust and Security Agreement shall exhaust the right to exercise such power but all rights and powers herein given may be exercised as often as may be necessary for the collection of all amounts secured by this Deed of Trust and Security Agreement until said amounts are fully paid and discharged. At any sale hereunder, Trustee may from time to time, adjourn said sale to a later date without re-advertising the sale by giving notice of the time and place of such continued sale at the time Trustee shall make such adjournment. And at any sale made to enforce the trust herein given, Beneficiary or any person in interest may become a purchaser and upon payment of the purchase price, Trustee shall provide a deed of conveyance by Special Warranty, which conveyance shall vest full and perfect title in such purchaser upon payment of the purchase price.

Substitute Trustee. Beneficiary may, without notice to any party to this Deed of Trust and Security Agreement, or to the successors or assigns, and without regard to the willingness or inability of Trustee to act, or to execute this trust, appoint another person or succession of persons to act as Trustee herein, and such appointee or substitute shall have all the title, authority and powers in the execution of this trust as are vested in Trustee. If Beneficiary be a corporation such appointment may be made by any one of its officers or agents. No single exercise of this power of appointment, the power of sale, or any other power or right given in this Deed of Trust and Security Agreement shall exhaust the right to exercise such power but all rights fights and powers herein given may be exercised as often as may be necessary for the collection of all amounts secured by this Deed of Trust and Security Agreement until said amounts are fully paid and discharged. At any sale hereunderthereunder, Trustee may from time to time, adjourn said sale to a later date without re-advertising the sale by giving notice of the time and place of such continued sale at the time Trustee shall make such adjournment. And at any sale made to enforce the trust herein given, Beneficiary or any person in interest may become a purchaser and upon payment of the purchase price, Trustee shall provide secure a deed of conveyance by Special Warranty, which conveyance shall vest full and perfect title in such purchaser upon payment of the purchase price.

Substitute Trustee. Beneficiary may, without notice to any party to this Deed of Trust and Security Agreement, or to the successors or assigns, and without regard to the willingness or inability of Trustee to act, or to execute this trust, appoint another person or succession of persons to act as Trustee herein, and such appointee or substitute shall have all the title, authority and powers in the execution of this trust as are vested in Trustee. If Beneficiary be a corporation such appointment may be made by any one of its officers or agents. No single exercise of this power of appointment, the power of sale, or any other power or right given in this Deed of Trust and Security Agreement shall exhaust the right to exercise such power but all rights and powers herein given may be exercised as often as may be necessary for the collection of all amounts secured by this Deed of Trust and Security Agreement until said amounts are fully paid and discharged. At any sale hereunder, Trustee may from time to time, adjourn said sale to a later date without re-advertising the sale by giving notice of the time and place of such continued sale at the time Trustee shall make such adjournment. And at any sale made to enforce the trust herein given, Beneficiary or any person in interest may become a purchaser and upon payment of the purchase price, Trustee shall provide secure a deed of conveyance by Special Warranty, which conveyance shall vest full and perfect title in such purchaser upon payment of the purchase price.