AT ANY SUCH SALE BY
VIRTUE OF ANY JUDICIAL PROCEEDINGS, POWER OF SALE, OR ANY OTHER LEGAL RIGHT,
REMEDY OR RECOURSE, THE TITLE TO AND RIGHT OF
4
POSSESSION OF ANY SUCH PROPERTY SHALL PASS TO THE PURCHASER THEREOF, AND TO THE
FULLEST EXTENT PERMITTED BY LAW, TRUSTOR SHALL BE COMPLETELY AND IRREVOCABLY
DIVESTED OF ALL OF ITS RIGHT, TITLE, INTEREST, CLAIM, EQUITY, EQUITY OF
REDEMPTION, AND DEMAND WHATSOEVER, EITHER AT LAW OR IN EQUITY, IN AND TO THE
PROPERTY SOLD AND SUCH SALE SHALL BE A PERPETUAL BAR BOTH AT LAW AND IN EQUITY
AGAINST TRUSTOR, AND AGAINST ALL OTHER PERSONS CLAIMING OR TO CLAIM THE PROPERTY
SOLD OR ANY PART THEREOF, BY, THROUGH OR UNDER TRUSTOR.
BENEFICIARY OR ANY OF
THE SECURED PARTIES MAY BE A PURCHASER AT SUCH SALE.
IF BENEFICIARY OR SUCH
OTHER SECURED PARTY IS THE HIGHEST BIDDER, BENEFICIARY OR SUCH OTHER SECURED
PARTY MAY CREDIT THE PORTION OF THE PURCHASE PRICE THAT WOULD BE DISTRIBUTED TO
BENEFICIARY OR SUCH OTHER SECURED PARTY AGAINST THE OBLIGATIONS IN LIEU OF
PAYING CASH.
IN THE EVENT THIS DEED OF TRUST IS FORECLOSED BY JUDICIAL ACTION,
APPRAISEMENT OF THE TRUST PROPERTY IS WAIVED.
(E)
RECEIVER.
MAKE APPLICATION TO A COURT OF COMPETENT JURISDICTION FOR, AND
OBTAIN FROM SUCH COURT AS A MATTER OF STRICT RIGHT AND WITHOUT NOTICE TO TRUSTOR
OR REGARD TO THE ADEQUACY OF THE TRUST PROPERTY FOR THE REPAYMENT OF THE
OBLIGATIONS, THE APPOINTMENT OF A RECEIVER OF THE TRUST PROPERTY, AND TRUSTOR
IRREVOCABLY CONSENTS TO SUCH APPOINTMENT.
ANY SUCH RECEIVER SHALL HAVE ALL THE
USUAL POWERS AND DUTIES OF RECEIVERS IN SIMILAR CASES, INCLUDING THE FULL POWER
TO RENT, MAINTAIN AND OTHERWISE OPERATE THE TRUST PROPERTY UPON SUCH TERMS AS
MAY BE APPROVED BY THE COURT, AND SHALL APPLY SUCH RENTS IN ACCORDANCE WITH THE
PROVISIONS OF SECTION 4.7.
(F)
OTHER.
EXERCISE, WITH RESPECT TO THE TRUST PROPERTY ONLY, ALL OTHER
RIGHTS, REMEDIES AND RECOURSES GRANTED UNDER THE LOAN DOCUMENTS OR OTHERWISE
AVAILABLE AT LAW OR IN EQUITY.
SECTION 4.2
SEPARATE SALES.
THE TRUST PROPERTY MAY BE SOLD IN ONE OR
MORE PARCELS AND IN SUCH MANNER AND ORDER AS BENEFICIARY IN ITS SOLE DISCRETION
MAY ELECT.
THE RIGHT OF SALE ARISING OUT OF ANY EVENT OF DEFAULT SHALL NOT BE
EXHAUSTED BY ANY ONE OR MORE SALES.
SECTION 4.3
REMEDIES CUMULATIVE, CONCURRENT AND NONEXCLUSIVE.
BENEFICIARY OR TRUSTEE SHALL HAVE ALL RIGHTS, REMEDIES AND RECOURSES GRANTED IN
THE LOAN DOCUMENTS AND AVAILABLE AT LAW OR EQUITY (INCLUDING THE UCC), WHICH
RIGHTS (A) SHALL BE CUMULATIVE AND CONCURRENT, (B) MAY BE PURSUED SEPARATELY,
SUCCESSIVELY OR CONCURRENTLY AGAINST TRUSTOR OR OTHERS OBLIGATED UNDER THE LOAN
DOCUMENTS, OR AGAINST THE TRUST PROPERTY, OR AGAINST ANY ONE OR MORE OF THEM, AT
THE SOLE DISCRETION OF BENEFICIARY, (C) MAY BE EXERCISED AS OFTEN AS OCCASION
THEREFOR SHALL ARISE, AND THE EXERCISE OR FAILURE TO EXERCISE ANY OF THEM SHALL
NOT BE CONSTRUED AS A WAIVER OR RELEASE THEREOF OR OF ANY OTHER RIGHT, REMEDY OR
RECOURSE, AND