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201205725
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Last modified
9/10/2012 2:44:49 PM
Creation date
7/13/2012 10:26:44 AM
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DEEDS
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201205725
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. , ���, . .���DE� 2 p 120 �'� 2 � <br />� ��1�0430'7 <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 fnll nnder Paragraph <br />9, Lender may invoke the power of sale and any other remedies permitted by applicable law. <br />Lender shall be entitled to collect all ezpenses incnrred in pnrsning the remedies ander this <br />Paragraph 18, inclnc�ng, bnt not limited to, reasonable attorneys' fees and costs of tifle evidence. <br />If the power of sale is invoked, Trnstee shall record a notice of defanit in each connty 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 reqnired by applicable law, Trustee shall give pnblic notice of sale to the <br />persons and in the manner prescribed by applicable law. lrustee, withont demand on Borrower, <br />shall sell the Property at pnblic anction 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 any parcel of the Property by public <br />annonncement �t the time and place of any previously scheduled sale. Lender or its designee <br />may pnrchase the Property at any sale. <br />If the Lender's interest in this 5ecnrity Instrament is held by the Secretary and the Seeretary <br />requires immediate payment in full nnder Paragraph 9, the 5ecretary may invoke the <br />nonjndicial power of sale provided in the Single Family Mortgage Foreclosnre Act of 1994 <br />("Act") (12 U.5.C. 3751 et seq.) by reqnesting a foreclosnre commissioner de5ignated nnder <br />the Act to commence fareclosure and to sell the Property as provided in the Act. Nothing in <br />the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender <br />under this Paragraph 18 or applicable law <br />Upon receipt of payment of the price bid, 1'rastee shall deliver to the pnrchaser 1'rastee's <br />deed conveying the Property. The recitals in the 1�astee's deed shall be prima facie evidence <br />of the trnth of the statements made therein. 1'rustee shall apply the proceeds of the sale in <br />the following order: (a) to all costs and ezpenses of ezercising the power of sale, and the sale, <br />including the payment of the Trustee's fees actually incnrred and reasonable attorneys' fees <br />as permitted by Applicable Law; (b) to all snms secnred by this 5ecnrity Instrument; and (c) <br />any ezcess to the person or persons legally entitled to it <br />19. Reconveyance. Upon payment of a.11 sums secured by ttus Security Insttument, Lender shall <br />request Trustee to reconvey the Property and shall surrender this Security Instrument and all notes <br />evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property <br />without warranty and without charge to the person or persons legally entitled to it. Such person or persons <br />shall pay any recordation costs. <br />HcFC-oo�os <br />FHA Deed of Trust-NE Revised 4l96 <br />VMP� ( � j , � �� 01/72 <br />WoHeis Kluwer Financial Servicea 201205294.1:1.2336J20120129Y �y� / Y U%''��� Page 8 of 10 <br />�r�r .� � s� <br />
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