201401072 - Laserfiche WebLink

Browse

��14�1�7� i 1 5. Barrowers ��py. Borrower shal� be gi�en one cvnfarmed copy of the N�te and �f thi� Security Instrumen�. NUN-UNIFC]RM C4VENANTS, 7. Acceleration;Remedies. Upan Barrower's breach of any covenant or agreement of Borrov�er in this Secur�ty Iristrument, including th.e co�enants �o pay when due any sums secured by�h�s Security Instrument, Lender, pri�r to acceleration, shali gi�e notice t� Barrower and to any other persan required � by applicable law as pro�ided in paxagraph 17 hereof specifyir�g: (1}the breach; �2�the act�on requ�red to cure such breach;�3}a date,n�t less than 3�days from the date the notice is mailed�o Borrawer,by which such breach must be cured; and�4}that failure ta cure such breach on�r befare the date spe�ified in the no�ice may result in aGcelerati�n of the sums seCu.red by this Security Instrument and sale of the Praper�y. The n�tice shall further inform Barrawer of the right t�reinstate after acce�eratian and the right to Uring a court action to assert the nonexistence of a default or any other defense af Borrower to acceleration and , saie. If t�ie breach is not cured�n or before the date specified in the notice, Lender, at Lender's option, may declare all of the sums secured by �h�s Security Iristrument ta be immediately due and payable without further demand and may invoke the power of sale and any other rexnedies permitted by applicable lav�. Lender shall be ent��led t�callec�all reasanable c�sts and.expenses in�urred in pursuing the remedies pro�ided�n�iis paxagraph 7,including,but not limited to,reasonable attorneys' fees. If Lender �n�okes the power sale, Lender or Trustee sha�l gi�e natice af the time, place and terms of sale by posting writ�en natice at least 21 days priar t�the day of the sa�e at the courthouse daor in each of the c�unties i.n wh�ch the Property is situated. Lender sha1l mail a copy�f the no�ice�f sa�e to Borrower in the manner prescribed by applicab�e law. Su�h sa�e shall be made public�enue between the hours af 1� o'clock a.m. and 4 0'clock p.m,on the first Tuesday in any month but,in nv e�ent shall the sale commence mvre than three�3�haurs after the time stated in the notice of sa1e. Bflrrower auth�rizes Trustee to se11 the� Praperty to the highest Bidder far cash in one or mare par�els and in such order as Trustee may determine. Lender ar Lender's designee may purchase the Property at any sale. Trustee sha11�leli�er to the pur�haser Trusfiee's deed con�eying indefeasible t�tle to the Praperty so sold with ca�enants of general warranty. Barrawer c�venants and agrees ta defend generally the purchaser's title to the Property against al�claims and demar�ds. The recitals in the Trustee's deed sha11 be prima facie e�idence of the�ruth of�he statements made therein. Trustee sha11 apply the proceeds af the sale in the follawing order:(a}t�all reasona�le cost�and expenses of the sale,including,but not limited to, reasonable Trustee's and attorney's fees and costs�f title e�idence; �b}t�all sums secured�y this Security Instrument;and(c�the excess, if any,to the person or persflns lega�ly entitled thereto. If the Property is sald pursuant to this paragraph 7, Borrower or any pers�n hold�ng p�ssession�f th� Pr�perty through Borrativer shall immediately surrender p�ssession�f the Property t� the purchaser a� such sale. If possession is not surrendered,Borrower or such person sha1�be a tenant at sufferance and may be removed by vwrit❑f possessian. Tf the Lender's interest in this Secur�ty Instrument is held b� the Secretary and the Secretary requires ir�mediate payment in ful�under Paragraph 7 of the Subord�nate Note, the Secretary may in�oke the nanjudicial pflwer af sale pro��ded in the Single Family Mortgage Fareclosure Act of 1994 �"A�.c�"}�12 U.S.C. 3751 et seq.} by reques�ing a fore�lasur� cflmmissi�ner designated under the Act to commence foreclosure and to sell�he Property as pra�ided in the Act. Nothing in the preceding sentence sha�l deprive the Secretary af any r�ghts otherwise ava�lab�e�a a Lender under this paragraph�r applicable 1aw. � i i 1 .� .�. Page 3 of 7 In t a