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person except Trustee may bid at Trustee's sale. Trustee shall apply the proceeds of the <br /> sale as follows: (1) to the expense of the sale, including a reasonable Trustee's fee and <br /> attorneys' fee; (and (2) 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 <br /> to convey at the time of its execution of this Deed of Trust, and such as it may have <br /> acquired thereafter. Trustee's deed shall recite the facts showing that the sale was <br /> conducted in compliance with all the requirements of law and of this Deed of Trust, which <br /> recital shall be prima facie evidence of such compliance and conclusive evidence thereof <br /> in favor of bona fide 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 the <br /> 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 may <br /> 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 <br /> trustee shall be vested with all powers of the original trustee. The Trustee is not obligated <br /> to notify any party hereto of pending sale under any other deed of trust or of any action or <br /> proceeding in which Grantor, Trustee or Beneficiary shall be a party unless such action or <br /> proceeding is brought by the Trustee. <br /> 8. This Deed of Trust applies to and inures to the benefit of, and is binding not only on the <br /> 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 <br /> hereby, whether or not named as Beneficiary herein. <br /> GRANTOR FURTHER AGREES: <br /> 1. Grantor will perform each and every obligation contained in the AHTF Agreement and any <br /> amendments thereto. <br /> 2. Grantor will ensure that the City ATHF-Assisted Units will remain available to Very Low- <br /> Income persons pursuant to the terms of the foregoing AHTF Agreement without regard <br /> to the term of any other deed of trust or the transfer of ownership, for not less than the <br /> term of this Deed of Trust, except that, upon foreclosure of the Property described herein <br /> by another lender or other transfer in lieu of such a foreclosure, the affordability period of <br /> this Deed of Trust shall be terminated if that foreclosure or other transfer recognizes any <br /> contractual or legal rights of public agencies, nonprofit sponsors, or others to take actions <br /> that would avoid the termination of low-income affordability. However, the affordability <br /> restrictions of this Deed of Trust shall be revived according to the original terms set forth <br /> herein if, during the period hereunder, the owner of record before foreclosure under any <br /> other deed of trust or other transfer, or any entity that includes the former owner or those <br /> with whom the former owner has or had family business ties, obtains an ownership interest <br /> in the Property described herein. <br /> Exhibit C <br /> City of Everett <br /> HopeWorks Station Residential LLLP <br /> Page 3 of 7 <br />