§38-1-7. Application of proceeds.
The trustee shall apply the proceeds of sale, first to the
payment of expenses attending the execution of the trust,
including a commission to the trustee of five percent on the
first three hundred dollars, and two percent on the residue of
the proceeds, and shall apply the balance of such proceeds pro
rata (or in the order of priority, if any, prescribed by the
trust deed) to the payment of the debts secured and the indemnity
of the sureties indemnified by the deed, and shall pay the
surplus, if any, to the grantor, his heirs, personal
representatives or assigns, as their interests may appear.