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201400400
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Last modified
8/19/2014 2:25:24 PM
Creation date
1/23/2014 3:16:30 PM
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DEEDS
Inst Number
201400400
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sale; <br />2 01400400 <br />(b) All notices which are required to be given to Borrower under the Act may <br />be given to Borrower at the address which is set forth in the preamble hereof; <br />(c) Lender may purchase part or all of the Mortgaged Property at any such <br />(d) Borrower stipulates the total amounts owing under this Security <br />Instrument will have benefited Borrower substantially and are not unconscionable in <br />amount, and therefore the total amount of such Debt, less the fair market value of the <br />Mortgaged Property sold under such Act, and any prior indebtedness, shall be available <br />as a deficiency judgment against Borrower, subject, however, to the provisions of <br />paragraph 51 hereof; <br />(e) The purchaser under such sale may seek and obtain a writ of assistance by <br />application to the District Court in the county in which the Mortgaged Property is <br />located, or the United States District Court having venue for actions arising in such <br />country; <br />(f) Lender may, at its option, proceed with foreclosure under judicial proceedings <br />instead of exercising the rights of this Power of Sale; <br />(g) All other procedures and requirements of such Act shall be followed; <br />(h) After the completion of the sale as contemplated by such act, the purchaser shall <br />have all of Borrower's right, title and interest in and to the Mortgaged Property, free and clear of <br />all rights of Borrower, and free and clear of all rights of any person with a priority which is <br />subordinate to the lien of this Security Instrument, except any right which may be reserved under <br />such Act; <br />(i) Any recitation in any notice, publication thereof, recordation thereof, or deed, of <br />the existence of an event of default, giving, publication, service and recordation of notice, <br />occurrence of the sale at the time and place set forth in such notice or any postponement <br />authorized and effective under such Act, circumstances of sale and bidding, and compliance with <br />the terms of such Act, shall be presumed to be statements of fact and no person shall be required <br />to investigate the truthfulness or accuracy of any such recitation. <br />(iii) Appointment of Receiver. Borrower hereby voluntarily and expressly consents <br />and stipulates to the appointment of a receiver over the Mortgaged Property in the event Lender <br />elects to seek the appointment of a receiver following Borrower's non - performance, breach, <br />default or violation of any condition, covenant or other agreement in this Security Instrument or <br />the Note secured hereby and failure to cure within the applicable grace period, if any. In such <br />event Lender shall be entitled to appointment of a receiver without the necessity of establishing <br />that the property is probably insufficient to discharge the mortgage debt, the express purpose and <br />intent of this clause being hereby acknowledged to provide for the appointment of a receiver in <br />accordance with the provisions of 12 O.S. § 1551(2)(c), as amended, upon the occurrence of any <br />breach, default, violation or other non - performance under this Security Instrument by Borrower. <br />- 129 - <br />
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