201202924 - Laserfiche WebLink

Browse

20�2029�� If the power of sale is invoked, Trustee shall record a notice of defanit in each county in which any part of the Progerty is located and shall mail copies of such notice in the manner pr�cribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trastee shall give pnblic notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public anction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Progerty by pnblic announcement at the time and place of any previonsly scheduled sale. Lender or its designee may purchase the Property at any sale. If the Lender's inter�t in this Secnrity Instrument is held by the Secretary and the Secretary reqnires immediate payment in fnll nnder Paragraph 9, the Secretary may invoke the noqjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et seq.) by requesting a foreclosure commissioner d�ignated under the Act to commence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise a�silable to a Lender under this Paragraph 18 or applicable law. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Trastee's deed shall be prima facie evidence of the trnth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and exgenses of exercising the power of sale, and the sale, inclnding the payment of the Trustee's fees actually incnrred, not to exceed . 000 % of the principal amonnt of the note at the time of the declaration of defanit, and reasonable attorneys' fees as permitted by law; (b) to all sums secured b� this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. 20. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the tifle, power and duties conferred upon Trustee herein and by applicable law. 21. Request for Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's address which is the Properiy Address. 22. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this 5ecurity Instrument as if the rider(s) were a part of this Security Instrument. [Check applicable box(es)]. 0 Condominium Rider ❑ Growing Equity Rider 0 Other [specify] 0 Planned Unit Development Rider 0 Graduated Payment Rider FHA Dead of Trust NE VMP � Woltars Kluwar Ffnencial Services 4/86 VMP4RfNE! (11061.00 Page 6 ot 10