PROCEDURE § 726.5.
TO THE EXTENT THAT ANY
OF TRUSTOR'S OBLIGATIONS HEREUNDER ARE NOT MADE VALID AND ENFORCEABLE UNDER
CALIFORNIA CODE OF CIVIL PROCEDURE § 736(A), SUCH OBLIGATIONS SHALL, TO THE
FULLEST EXTENT NOT PROHIBITED BY LAW, BE ENFORCEABLE UNDER THE LAWS OF THE STATE
OF CALIFORNIA OTHER THAN CALIFORNIA CODE OF CIVIL PROCEDURE § 736, AS PROVIDED
IN CALIFORNIA CODE OF CIVIL PROCEDURE § 736(D).
SECTION 8.3
REMEDIES.
(A)
WHERE THE TRUST PROPERTY CONSISTS OF REAL PROPERTY AND PERSONAL PROPERTY,
ANY REINSTATEMENT OF THE OBLIGATION SECURED HEREBY, FOLLOWING DEFAULT AND AN
ELECTION BY THE BENEFICIARY TO ACCELERATE THE MATURITY OF SAID OBLIGATION, WHICH
IS MADE BY TRUSTOR OR ANY OTHER PERSON OR ENTITY PERMITTED TO EXERCISE THE RIGHT
OF REINSTATEMENT UNDER SECTION 2924C OF THE CALIFORNIA CIVIL CODE OR ANY
SUCCESSOR STATUTE, SHALL, IN ACCORDANCE WITH THE TERMS OF SECTION 9604(A)(3)(C)
OF THE UCC, NOT PROHIBIT THE BENEFICIARY FROM CONDUCTING A SALE OR OTHER
DISPOSITION OF ANY PERSONAL PROPERTY OR FIXTURES OR FROM OTHERWISE PROCEEDING
AGAINST OR CONTINUING TO PROCEED AGAINST ANY PERSONAL PROPERTY OR FIXTURES IN
ANY MANNER PERMITTED BY THE UCC; NOR SHALL ANY SUCH REINSTATEMENT INVALIDATE,
RESCIND OR OTHERWISE AFFECT ANY SALE, DISPOSITION OR OTHER PROCEEDING HELD,
CONDUCTED OR INSTITUTED WITH RESPECT TO ANY PERSONAL PROPERTY OR FIXTURES PRIOR
TO SUCH REINSTATEMENT OR PENDING AT THE TIME OF SUCH REINSTATEMENT.
ANY SUMS
PAID TO BENEFICIARY IN EFFECTING ANY REINSTATEMENT PURSUANT TO SECTION 2924C OF
THE CALIFORNIA CIVIL CODE SHALL BE APPLIED TO THE SECURED OBLIGATIONS AND TO THE
BENEFICIARY'S AND TRUSTEE'S REASONABLE COSTS AND EXPENSES IN THE MANNER REQUIRED
BY SECTION 2924C.
(B)
SHOULD THE BENEFICIARY ELECT TO SELL ANY PORTION OF THE TRUST PROPERTY
WHICH IS REAL PROPERTY OR WHICH IS PERSONAL PROPERTY OR FIXTURES THAT
BENEFICIARY HAS ELECTED UNDER SECTION 9604(A)(1)(B) OF THE UCC TO SELL TOGETHER
WITH REAL PROPERTY IN ACCORDANCE WITH THE LAWS GOVERNING A SALE OF REAL
PROPERTY, THE BENEFICIARY OR THE 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, AND WITHOUT THE NECESSITY OF ANY DEMAND ON TRUSTOR, THE
TRUSTEE, AT THE TIME AND PLACE SPECIFIED IN THE NOTICE OF SALE, SHALL SELL SAID
REAL PROPERTY OR PART THEREOF AT PUBLIC AUCTION TO THE HIGHEST BIDDER FOR CASH
IN LAWFUL MONEY OF THE UNITED STATES.
THE TRUSTEE MAY, AND UPON REQUEST OF
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THE BENEFICIARY SHALL, FROM TIME TO TIME, POSTPONE ANY SALE HEREUNDER BY PUBLIC
ANNOUNCEMENT THEREOF AT THE TIME AND PLACE NOTICED THEREFOR.
(C)
IF THE TRUST PROPERTY CONSISTS OF SEVERAL LOTS, PARCELS OR ITEMS OF TRUST
PROPERTY, THE BENEFICIARY MAY:
(I) DESIGNATE THE ORDER IN WHICH SUCH LOTS,
PARCELS OR ITEMS SHALL BE OFFERED FOR SALE OR SOLD, OR (II) ELECT TO SELL SUCH
LOTS, PARCELS OR ITEMS THROUGH A SINGLE SALE, OR THROUGH TWO OR MORE SUCCESSIVE
SALES, OR IN ANY OTHER MANNER