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, V <br /> 9 <br /> fully satisfy the obligation secured hereby, shall be paid to Beneficiary to be applied to said <br /> obligation. <br /> Unless Beneficiary and Grantor otherwise agree in writing, any such application of <br /> proceeds to principal shall not extend or postpone the due date of the monthly installments on <br /> the Note or any other indebtedness secured hereby or change the amount of such installments. <br /> 2. By accepting payment of any sum secured hereby after its due date, Beneficiary does <br /> not waive its right to require prompt payment when due of all other sums so secured or to <br /> declare default for failure to so pay. <br /> 3. The Trustee shall reconvey all or any part of the Property covered by this Deed of Trust <br /> to the person entitled thereto on written request of the Grantor and the Beneficiary, or upon <br /> satisfaction of the obligation secured and written request for reconveyance made by the <br /> Beneficiary or the person entitled thereto. The Grantor shall pay the Trustee's reconveyance <br /> fee and any costs of recordation of reconveyance. <br /> 4. Upon default by Grantor in the payment of any indebtedness secured hereby or in the <br /> performance of any agreement contained herein, all sums secured hereby shall immediately <br /> become due and payable at the option of the Beneficiary. In such event and upon written <br /> request of Beneficiary, Trustee or its authorized agent shall sell the trust property, in <br /> accordance with the Deed of Trust Act of the State of Washington, at public auction to the <br /> highest bidder. In the event of a Trustee's sale, any person except Trustee may bid at <br /> Trustee's sale. Trustee shall apply the proceeds of the sale as follows: (1) to the expense of <br /> sale, including a reasonable Trustee's fee and attorneys' fee; (2) to the obligation secured by <br /> this Deed of Trust; and (3) the surplus, if any, shall be distributed to the persons entitled <br /> thereto. <br /> 5. Trustee shall deliver to the purchaser at the sale its deed, without warranty, which shall <br /> convey to the purchaser the interest in the Property which Grantor had or had the power to <br /> convey at the time of Grantor's execution of this Deed of Trust, and such as he may have <br /> acquired thereafter. Trustee's deed shall recite the facts showing that the sale was conducted <br /> in 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. In the event of the death, incapacity of disability or resignation of Trustee, or at any <br /> other time at the Beneficiary's option, Beneficiary shall appoint in writing a successor trustee, <br /> and upon the recording of such appointment in the mortgage records of the county in which this <br /> Deed of Trust is recorded, the successor trustee shall be vested with all powers of the original <br /> trustee. The Trustee is not obligated to notify any party hereto of pending sale under any other <br /> Deed of Trust or of any action or proceeding in which Grantor, Trustee or Beneficiary shall be a <br /> party unless such action or proceeding is brought by the Trustee. <br /> 7. The power of sale conferred by this Deed of Trust and by the Deed of Trust Act of the <br /> State of Washington is not an exclusive remedy. Beneficiary may cause this Deed of Trust to <br /> be foreclosed as a mortgage and obtain a judgment for any deficiency against Grantor. <br /> 8. This Deed of Trust applies to, inures to the benefit of, and is binding not only on the <br /> parties hereto, but on their heirs, devisees, legatees, administrators, executors, successors and <br /> 8 <br /> ADDI Agreement between D - 4 <br /> City of Everett and Snohomish County <br />