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201109521
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201109521
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Last modified
1/5/2012 9:48:42 AM
Creation date
12/20/2011 8:53:09 AM
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DEEDS
Inst Number
201109521
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�01109521 <br />Borrower has not executed any prior assignment of the rents and has not and will not perform any act <br />that would prevent Lender from exercising its rights under this Paragraph 17. <br />Lender shall not be required to enter upon, take control of or maintain the Property before or after giving <br />notice of breach to Borrower. However, Lender or a judicially appointed receiver may do so at any time <br />there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right <br />or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by <br />the Security Instrument is paid in full. <br />18. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph <br />9, Lender may invoke the power of s�le and any other remedies permitted by applicable law <br />Lender shall be entitled to collect all ezpenses incurred in pnrsuing the remedies under this <br />Paragraph 18, including, bnt not limited to, reasonable attorneys' fees and costs of title evidence. <br />If the power of sale is invoked, Trustee shall record a notice of default in each county in <br />which any part of the Property is located and shall mail copies of such notice in the manner <br />prescribed by applicable law to Borrower and to the other persons prescribed by applicable <br />law. After the time required by applicable l�w, Trustee ahall give public notice of sale to the <br />persons and in the manner prescribed by applicable law 1�ustee, without demand on Borrower, <br />shall sell the Property at public auction to the highest bidder at the time and place and under <br />the terms designated in the notice of sale in one or more parcels and in any order Trustee <br />determines. Trustee may postpone sale of all or �ny parcel of the Property by public <br />announcement at the time and place of any previously scheduled sale. Lender or its designee <br />may purchase the Property at any sale. <br />If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary <br />requires immediate payment in full under Paragraph 9, the Secretary may invoke the <br />nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 <br />("Act") (12 U.S.C. 3751 et seq.) by requesting a foreclosure commissioner designated under <br />the Act to commence foreclosure and to sell the Property �s provided in the Act. Notlung in <br />the preceding sentence shall deprive the Secretary of any rights oth�rwise avail�ble to a Lender <br />under this Paragraph 1� or applicable law. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying <br />the Property. The recitals in the Trustee's deed shall be prima facie evidence of the tntth of the statements <br />made therein. Trustee sha.11 apply the proceeds of the sale in the following order: (a) to all costs and <br />expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually <br />incuned, not to exceed 0% of the principal amount of the note at the time of the declaration of default, <br />and reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Security Inshument; <br />and (c) any excess to the person or persons legally entitled to it <br />19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall <br />request Tntstee to reconvey the Property and shall surrender this Security Instrument and all notes <br />evidencing debt secured by this Security Insixument to Tntstee. Trustee shall reconvey the Property <br />without warta.nty and without charge to the person or persons legally entitled to it. Such person or persons <br />shall pay any recordation cosis. <br />HCFG-00703 <br />FHA Dead of Truat-NE Revised 4/96 <br />VMP� 04/11 <br />Woitera Kluwer Financial Servicea 207112134.0.0.0.4002-J20110824Y Page 8 ot 10 <br />98 11 <br />
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