$4.$ Namvar Taghipour, Danesh Rahemi, and Edgar Jerez formed a limited liability company $($the LLC$)$ to purchase and develop a parcel of real estate. The LLC$\text{'}$s articles of organization designated Jerez as the LLC$$s manager. In addition, the written operating agreement among the members of the LLC provided: $$No loans may be contracted on behalf of the $[$LLC$]...$ unless authorized by a resolution of the members.$$ On the next day, the LLC acquired the intended real estate. Two years later, Jerez, without the knowledge of the LLC$\text{'}$s other members, entered into a loan agreement on behalf of the LLC with Mount Olympus. According to the loan agreement, Mount Olympus lent the LLC $$25,000$ and, as security for the loan, Jerez executed and delivered a trust deed on the LLC$$s real estate property. Mount Olympus then disbursed $$20,000$ to Jerez and retained the $$5,000$ balance to cover various fees. In making the loan, Mount Olympus did not investigate Jerez$$s authority to enter into the loan agreement beyond determining that Jerez was the manager of the LLC$.$ Jerez absconded with the $$20,000.$ The LLC never made payments on the loan, since it was unaware of the loan, and consequently defaulted. Mount Olympus then foreclosed on the LLC$$s property, giving notice of the default and pending foreclosure sale to only Jerez. Explain whether the foreclosure was valid.