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201303278
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201303278
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Last modified
12/31/2013 2:54:36 PM
Creation date
4/25/2013 3:46:07 PM
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DEEDS
Inst Number
201303278
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201303278 <br /> not an assignment for additional security only. <br /> If Lender gives notice of breach to Borrower:(a)all rents received by Borrower shall be held by <br /> Borrower as trustee for benefit of Lender only,to be applied to the sums secured by this Security <br /> Instrument;(b)Lender shall be entitled to collect and receive all of the rents of the Property;and(c) <br /> each tenant of the Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's <br /> written demand to the tenant. <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 19. <br /> Lender shall not be required to enter upon,lake 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 <br /> right or remedy of Lender.This assignment of rents of the Property shall terminate when the debt <br /> secured by this Security Instrument is paid in full. <br /> 20.Foreclosure Procedure.If Lender requires immediate payment-in-full under Paragraph 9, <br /> Lender may invoke the power of sale and any other remedies permitted by applicable law.Lender <br /> shall be entitled to collect all expenses incurred in pursuing the remedies provided in this <br /> Paragraph 20,including,but 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 which any <br /> part of the Property is located and shall mail copies of such notice in the manner prescribed by <br /> applicable law to Borrower and to the other persons prescribed by applicable law. After the time <br /> required by applicable law,Trustee shall give public notice of sale to the persons and in the <br /> manner prescribed by applicable law. Trustee,without demand on Borrower,shall sell the <br /> Property at public auction to the highest bidder at the time and place and under the terms <br /> designated in the notice of sale in one or more parcels and in any order Trustee determines. <br /> Trustee may postpone sale of all or any parcel of the Property by public announcement at the time <br /> and place of any previously scheduled sale. Lender or its designee may purchase the Property at <br /> any sale. <br /> Upon receipt of payment of the price bid,Trustee shall deliver to the purchaser Trustee's deed <br /> conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the <br /> truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following <br /> order:(a)to all costs and expenses of exercising the power of sale,and the sale,including the <br /> payment of the Trustee's fees actually incurred and reasonable attorneys'fees as permitted by <br /> applicable law;(b)to all sums secured by this Security Instrument;and(c)any excess to the <br /> person or persons legally entitled to it, <br /> 21.Lien Priority.The full amount secured by this Security Instrument shall have the same priority over <br /> any other liens on the Property as if the bill amount had been disbursed on the date the initial <br /> disbursement was made,regardless of the actual date of any disbursement.The amount secured by this <br /> Security Instrument shall include all direct payments by Lender to Borrower and all other loan advances <br /> permitted by this Security Instrument for any purpose,This lien priority shall apply notwithstanding any <br /> Slate constitution.law or regulation,except that this lien priority shall not affect the priority of any liens <br /> for unpaid State or local governmental unit special assessments or taxes. <br /> 22.Recouveyance. Upon payment of all sums secured by this Security Instrument,Lender shall reruest <br /> page of11 I IIY'M lire need Oi In,, <br />
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