Laserfiche WebLink
trust Property, in accordance with the Deed of Trust Act of the State of Washington, at public <br /> auction to the highest bidder. Any person except Trustee may bid at Trustee's sale. Trustee <br /> shall apply the proceeds of the sale as follows: (1) to the expense of the sale, including a <br /> reasonable Trustee's fee and attorneys' fee; (2) to the obligation secured by this Deed of <br /> Trust; and (3) the surplus, if any, shall be distributed to the persons entitled thereto. <br /> 5. Trustee shall deliver to the purchaser at the sale its deed, without warranty, which <br /> shall convey to the purchaser the interest in the Property which Grantor had or had the power <br /> to convey at the time of its execution of this Deed of Trust, and such as it may have acquired <br /> thereafter. Trustee's deed shall recite the facts showing that the sale was conducted in <br /> compliance with all the requirements of law and of this Deed of Trust, which recital shall be <br /> prima facie evidence of such compliance and conclusive evidence thereof in favor of bona fide <br /> purchasers and encumbrancers for value. <br /> 6. The power of sale conferred by this Deed of Trust and by the Deed of Trust Act of <br /> the State of Washington is not an exclusive remedy; Beneficiary may cause this Deed of Trust <br /> to be foreclosed as a mortgage. <br /> 7. In the event of the death, incapacity, disability or resignation of Trustee, Beneficiary <br /> may appoint in writing a successor trustee, and upon the recording of such appointment in the <br /> mortgage records of the county in which this Deed of Trust is recorded, the successor trustee <br /> shall be vested with all powers of the original trustee. The Trustee is not obligated to notify <br /> any party hereto of pending sale under any other Deed of Trust or of any action or proceeding <br /> in which Grantor, Trustee or Beneficiary shall be a party unless such action or proceeding is <br /> brought by the Trustee. <br /> 8. This Deed of Trust applies to and inures to the benefit of, and is binding not only on <br /> the parties hereto, but on their heirs, devisees, legatees, administrators, executors and <br /> assigns. The term Beneficiary shall mean the holder and owner of the note secured hereby, <br /> whether or not named as Beneficiary herein. <br /> GRANTOR FURTHER AGREES: <br /> 1. Grantor will perform each and every obligation contained in the HOME Agreement <br /> and any amendments thereof. <br /> 2. Grantor will charge rent to tenants of the Premises described herein according to the <br /> (i) Rent Restriction Provisions contained in Attachment A to the HOME Agreement and (ii) the <br /> Use Restriction Covenant Agreement attached as Attachment G to the HOME Agreement and <br /> to be recorded against the Property. <br /> 3. Grantor will ensure that the Property will remain affordable pursuant to the terms of <br /> the foregoing HOME Agreement without regard to the term of any other deed of trust or the <br /> transfer of ownership, for not less than the term of this Deed of Trust, except that, upon <br /> foreclosure of the Property described herein by another lender or other transfer in lieu of such <br /> a foreclosure, the affordability period of this Deed of Trust shall be terminated if that <br /> foreclosure or other transfer recognizes any contractual or legal rights of public agencies, <br /> nonprofit sponsors, or others to take actions that would avoid the termination of low-income <br /> affordability. However, the affordability restrictions of this Deed of Trust shall be revived <br /> C-3 8 5 <br />