201206688 - Laserfiche WebLink

Browse

20�20668� If the power of sale is invoked, Trustee shall record a notice of default in each county in wl�ich any part of the Property is located and shall ma�l copies of such notice in the manner prescrtbed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time reqaired by applicable law, Trustee shal� 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 auction 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 Trust� determines. Trnst� may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property �t any sale. If the Lender's intere,st in tLis Security Instrument is held by the Secretary and the Secretary requires immediate payment in fnli under Paragraph 9, the Secretary may invoke the nonjudicisl 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 designated under the Act to commence foreclosure and to sell the Property as provided in the Ac� Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender nnder 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 d� shall be prima facie evidence of the trath of the statements made therein. Trust�ee shall apply the proceeds of the sale in the following order. (a) to all costs and egpenses of eaercising the power of sale, and the sale, including the payment of the Trastee's feES actaally incnrred and reasonable attorneys' fees as permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) any ezc�s to the person or persons legally entitled to it 19. Reconveyance. Upon payment of a11 sums secured by this Security Instrument, Lender shall request Trustee to reconvey the Property and sha11 surrender this Security Instrument and a11 notes evidencing debt secured by this Security Instrument to Trustee. Trustee sha11 reconvey the Property without warranty and without chazge to the person or persons legally entitled to it. Such person or persons sha11 pay any recordation costs. 20. Substftute Trustee. Lender, at its option, may from time to rime remove Trustee and appoint a successor trustee to any Trustee apgointed hereunder by an insttument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Properiy, the successor trustee shall succeed to a11 the title, power and duries conferred upon Trustee herein and by applicable law. 21. Request for NotiCes. Bonower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property Address. 22. Riders to this Securlty Instrument. If one or more riders aze executed by Borrower and recorded together with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and supplemettt the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. [Check applicable box(es)]. ❑ Condominium Rider [� Growing Equity Rider � Other [specify] ❑ Planned Unit Development Rider � Graduated Payment Rider FHA MbAgage WITH M67S-NE Reviaed 4/98 ��P O VMP4N(Nq (1109) WoHera Kluw er Finencial Servicea page 6 oi 1 tl