PROPERTY, AND DISPOSE OF THE SAME IN ACCORDANCE WITH 12(A),
SEPARATE AND APART FROM THE SALE OF REAL PROPERTY, THE REMAINDER OF THE PROPERTY
BEING TREATED AS REAL PROPERTY.
(B)
LENDER MAY CAUSE ANY SUCH SALE OR OTHER DISPOSITION TO BE
CONDUCTED IMMEDIATELY FOLLOWING THE EXPIRATION OF ANY GRACE PERIOD, IF ANY,
HEREIN PROVIDED (OR IMMEDIATELY UPON THE EXPIRATION OF ANY REDEMPTION PERIOD
REQUIRED BY LAW) OR LENDER MAY DELAY ANY SUCH SALE OR OTHER DISPOSITION FOR SUCH
PERIOD OF TIME AS LENDER DEEMS TO BE IN ITS BEST INTEREST. SHOULD LENDER DESIRE
THAT MORE THAN ONE SUCH SALE OR OTHER DISPOSITION BE CONDUCTED, LENDER MAY AT
ITS OPTION, CAUSE THE SAME TO BE CONDUCTED SIMULTANEOUSLY, OR SUCCESSIVELY ON
THE SAME DAY, OR AT SUCH DIFFERENT DAYS OR TIMES AND IN SUCH ORDER AS LENDER MAY
DEEM TO BE IN ITS BEST INTEREST.
(C)
LENDER MAY ELECT TO SELL THE PROPERTY WHICH IS REAL PROPERTY OR
WHICH LENDER HAS ELECTED TO TREAT AS REAL PROPERTY, UPON SUCH ELECTION LENDER OR
TRUSTEE SHALL GIVE SUCH NOTICE OF DEFAULT AND ELECTION TO SELL AS MAY THEN BE
REQUIRED BY LAW.
THEREAFTER, UPON THE EXPIRATION OF SUCH TIME AND THE GIVING OF
SUCH NOTICE OF SALE AS
MAY THEN BE REQUIRED BY LAW, TRUSTEE, AT THE TIME AND
PLACE SPECIFIED IN THE NOTICE OF SALE, SHALL SELL SUCH PROPERTY, OR ANY PORTION
THEREOF SPECIFIED BY LENDER, AT PUBLIC AUCTION TO THE HIGHEST BIDDER FOR CASH IN
LAWFUL MONEY OF THE UNITED STATES, SUBJECT, HOWEVER, TO THE PROVISIONS OF
SUBPARAGRAPH (H) HEREOF.
TRUSTEE FOR GOOD CAUSE MAY, AND UPON REQUEST OF LENDER
SHALL, FROM TIME TO TIME, POSTPONE THE SALE BY PUBLIC ANNOUNCEMENT THEREOF AT
THE TIME AND PLACE NOTICED THEREFOR.
IF THE PROPERTY CONSISTS OF SEVERAL LOTS
OR PARCELS, LENDER MAY DESIGNATE THE ORDER IN WHICH SUCH LOTS OR PARCELS SHALL
BE OFFERED FOR SALE OR SOLD.
ANY PERSON, INCLUDING BORROWER, TRUSTEE OR LENDER,
MAY PURCHASE AT THE SALE.
UPON ANY SALE TRUSTEE SHALL EXECUTE AND DELIVER TO
THE PURCHASER OR PURCHASERS A DEED OR DEEDS CONVEYING THE PROPERTY SO SOLD, BUT
WITHOUT ANY COVENANT OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, WHEREUPON SUCH
PURCHASER OR PURCHASERS SHALL BE LET INTO IMMEDIATE POSSESSION.
(D)
IN THE EVENT OF A SALE OR OTHER DISPOSITION OF ANY SUCH PROPERTY,
OR ANY PART THEREOF, AND THE EXECUTION OF A DEED OR OTHER CONVEYANCE, PURSUANT
THERETO, THE RECITALS THEREIN OF
FACTS, SUCH AS A DEFAULT, THE GIVING OF NOTICE OF DEFAULT AND NOTICE OF SALE,
DEMAND THAT SUCH SALE SHOULD BE MADE, POSTPONEMENT OF SALE, TERMS OF SALE, SALE,
PURCHASER, PAYMENT OF PURCHASE MONEY, AND ANY OTHER FACT AFFECTING THE
REGULARITY OR VALIDITY OF SUCH SALE OR DISPOSITION, SHALL BE CONCLUSIVE PROOF OF
THE TRUTH OF SUCH FACTS; AND ANY SUCH DEED OF CONVEYANCE SHALL BE CONCLUSIVE
AGAINST ALL PERSONS AS TO SUCH FACTS RECITED THEREIN.
(C)
LENDER AND/OR TRUSTEE SHALL APPLY THE PROCEEDS OF ANY SALE OR
DISPOSITION HEREUNDER TO PAYMENT OF THE FOLLOWING:
(1)
THE