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201400181
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1/10/2014 4:46:46 PM
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1/10/2014 4:46:46 PM
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DEEDS
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201400181
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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 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 full under 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 expenses incurred in pursuing the remedies under this <br />Paragraph 18, 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 <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 required by applicable law, Trustee shall give public notice of sale to the <br />persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, <br />shall sell the Property at public auction 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 />announcement at the time and place of any previously scheduled sale. Lender or its designee <br />may purchase the Property at any sale. <br />If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary <br />requires immediate payment in full under Paragraph 9, the Secretary may invoke the <br />nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 <br />( "Act ") (12 U.S.C. 3751 et seq.) by requesting a foreclosure commissioner designated under <br />the Act to commence foreclosure 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, Trustee shall deliver to the purchaser Trustee's <br />deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence <br />of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in <br />the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, <br />including the payment of the Trustee's fees actually incurred and reasonable attorneys' fees <br />as permitted by Applicable Law; (b) to all sums secured by this Security Instrument; and (c) <br />any excess to the person or persons legally entitled to it. <br />19. Reconveyance. Upon payment of all sums secured by this Security Instrument, 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 />HCFG -00703 <br />FHA Deed of Trust -NE <br />VMP® <br />Wolters Kluwer Financial Services <br />201401 094.1.0.2547- J20130729 Y <br />201400181 <br />i <br />i <br />i <br />�I <br />i <br />i <br />Revised 4/96 <br />04/13 <br />Page 8 of 10 <br />0 <br />
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