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03
City of Pleasanton
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2/25/2016 4:13:47 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
3/1/2016
DESTRUCT DATE
15Y
DOCUMENT NO
03
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together with a written request for the Trustee to proceed with a sale of the Property, <br /> pursuant to the provisions of law and this Deed of Trust. <br /> Notice of sale having been given as then required by law, and not less than the <br /> time then required by law having elapsed after recordation of such notice of default, <br /> Trustee, without demand on Trustor, shall sell the Property at the time and place fixed <br /> by it in the notice of sale, either as a whole or in separate parcels and in such order as it <br /> may determine, at public auction to the highest bidder for cash in lawful money of the <br /> United States, payable at time of sale. Trustee may, and at Beneficiary's request shall, <br /> postpone sale of all or any portion of the Property by public announcement at such time <br /> and place of sale, and from time to time thereafter may postpone such sale by public <br /> announcement at the time and place fixed by the preceding postponement. Trustee <br /> shall deliver to the purchaser its deed conveying the property so sold, but without any <br /> covenant or warranty, express or implied. The recitals in such deed of any matters or <br /> facts shall be conclusive proof of the truthfulness thereof. Any person, including Trustor, <br /> Trustee, or Beneficiary, may purchase at such sale. <br /> After deducting all costs, fees, and expenses of Trustee and of the trust hereby <br /> created, including reasonable attorneys' fees in connection with sale, Trustee shall <br /> apply the proceeds of sale to payment of all sums advanced or expended by Beneficiary <br /> or Trustee under the terms hereof and all outstanding sums then secured hereby, and <br /> the remainder, if any, to the person or persons legally entitled thereto. <br /> Without limiting the generality of the foregoing, Trustor acknowledges and agrees <br /> that regardless of whether or not a default has occurred hereunder, if an Event of <br /> Default has occurred under the City Documents, and if in connection with such Event of <br /> Default Beneficiary exercises its right to foreclose on the Property, then: (i) Beneficiary <br /> shall be entitled to declare all amounts due under the Note immediately due and <br /> payable, and (ii) the proceeds of any sale of the Property in connection with such <br /> foreclosure shall be used to pay all Secured Obligations, including without limitation, the <br /> outstanding principal balance and all other amounts due under the Note. <br /> At any foreclosure sale, any person, including Trustor, Trustee or Beneficiary, <br /> may bid for and acquire the Property or any part of it to the extent permitted by then <br /> applicable law. Instead of paying cash for such property, Beneficiary may settle for the <br /> purchase price by crediting the sales price of the property against the following <br /> obligations: <br /> a. First, the portion of the Secured Obligations attributable to the <br /> expenses of sale, costs of any action and any other sums for which Trustor is obligated <br /> to pay or reimburse Beneficiary or Trustee under Section 7.12(c); and <br /> b. Second, the remaining balance of all other Secured Obligations in <br /> any order and proportions as Beneficiary in its sole discretion may choose. <br /> 8.4 Trustor's Right to Reinstate. Notwithstanding Beneficiary's acceleration of <br /> the sums secured by this Deed of Trust, Trustor shall have the right to have any <br /> 19 <br /> OAK #4847-7399-4286 v3 <br />
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