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201306035
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Last modified
8/19/2014 2:23:40 PM
Creation date
7/29/2013 8:37:07 AM
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DEEDS
Inst Number
201306035
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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 <br />right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt <br />secured by the Security Instrument is paid in full. <br />18. Foreclosure Procedure <br />If Lender requires immediate payment in full under Paragraph 9, Lender may invoke the power <br />of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all <br />expenses incurred in pursuing the remedies provided in this Paragraph 18, including, but not <br />limited to, reasonable attorney's 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 this 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, and Trustee shall apply the proceeds of the sale in the <br />following order: (a) to all costs and expenses of exercising the power of sale, and the sale, including <br />the payment of the Trustee's fees actually incurred, not to exceed 5% of the principal amount of <br />the Note at the time of the declaration of default, and reasonable attorney's fees as permitted by <br />law; (b) to all sums secured by this Security Instrument; and (c) any excess to the persons legally <br />entitled to it. <br />If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary <br />required immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial <br />power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ( ^Act ") (12 U.S.C. <br />3751 et seq.) by requesting a foreclosure commissioner designated under the Act to commence <br />foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall <br />deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 18 or <br />applicable law. <br />19. Reconveyance <br />Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee to reconvey <br />the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this <br />Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge <br />to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. <br />20. Substitute Trustee <br />Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any <br />Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is <br />FHA Nebraska Deed of Trust - 06/13 <br />'Ss 391.26 Page 8 of 9 <br />201306035 <br />.1111073119 <br />
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