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89100516
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Last modified
10/19/2011 4:52:31 PM
Creation date
10/20/2005 9:14:03 PM
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DEEDS
Inst Number
89100516
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100516 <br />If the ownership of the Property becomes vested in a person(s), <br />corporation, partnership, or joint <br />venture other than the Borrower, <br />the Lender may, without notice to the Borrower, dead with such <br />successor or successors in interest with reference to this Deed of <br />Trust and the debt hereby secured <br />as with the Borrower, and may <br />forebear to sue, alter time for payment of the debt, change the <br />interest <br />rate and /or the payments of the debt hereby secured, without <br />discharging or in any <br />way affecting the liability of the Borrowers) <br />hereunder or upon the debt secured. <br />If Lender exercises such option to accelerate, Lender shall mail <br />Borrower notice of acceleration in <br />accordance with Paragraph 15 <br />hereof. Such notice, shall provide a period of not less than thirty <br />(30) days from the date the notice is mailed within which the Borrower <br />may pay the sums declared due. If <br />Borrower fails to pay such. rums <br />- pi"ior to the expiration of such period, Lender nay, without further <br />notice <br />of demand on Borrower, invoke any remedies permitted:., by <br />Paragraph 19 hereof. .` ' <br />29. AC�_M ATION: B-,M�y�RT,a. Except as provided in Paragraph 18 <br />'hereof, upon. Borrower's breach of <br />any covenant or agreement of <br />Borrower in this Deed of Trust, including the covenants to pay when <br />due any <br />sums secured by this Deed of Trust, Lender prior- to <br />acceleration shall mail notice to Borrower <br />as provided in Paragraph 1 5 <br />hereof specifying (1) the breach; (2) the action required to <br />cure such <br />breach; (3) a date, not less than thirty <br />notice is mailed to Borrower, by beach m <br />_ <br />which such st be cu ed ;aand <br />(4) that failure to cure such breach on or before the date specified <br />in the notice <br />may result in acceleration of the sums secured by this <br />Deed of Trust and sale of the Pre�ror4rj <br />, ;f trill iiea`n is not cured on <br />- or before the date specified in the notice, Lender, at Lender's <br />option, <br />may declare all of the sums secured by this Deed of Trust to <br />be immediately due and payable without <br />further demand and may invoke <br />the power of sale and any other remedies permitted by applicable law. <br />Lender shall be entitled <br />to collect all reasonable costs and expenses <br />incurred in pursuing the remedies provided in <br />this Paragraph 19, <br />- including, but not limited to, reasonable attorneys'.,fees. <br />If the power of sale is invoked, Trustee shall record.a notice 'Of, <br />default in each county in which the <br />Property or some part thereaf'is <br />located and shall mail copies of such notice in the <br />manner prescribed <br />by applicable law to 16rrower and to the other persons• "prescribed".by <br />applicable law.. After. ':the <br />lapse of such, time as may be required by <br />applicable law, :• Trustee`: sha71 give public notice <br />`''°_ <br />of sale to the �. <br />persons and in the maaLner prescribed by' applicable law. Trustee, <br />without demand <br />on Borrower, shall self. the Property at public auction <br />to the highest bidder at the time. <br />and place and under the terms <br />designated in the notice of sale in <br />one or more parcels and in such <br />order as Trustee may determine. Trustee may postpone sale of all or <br />any part of the <br />the Property by public announcement at the time and <br />place of any previously scheduled sale. <br />Lender or Lender's designee <br />may purchase the PrPRekty at any sale.' <br />Upon receipt -vf "payment of the price .b+.id# Trustee shall deliver <br />to the purchaser. a Trustee's deed conveying the Property sold. .The <br />recitals in the Trustee's deed shall be prima facie evidence of the <br />truth of the statements made therein. Trustee shall apply the <br />proceeds of the sale in the following order: (a) to all reasonable <br />costs and expenses of the sale, including, but not limited to, <br />Trustee's fees of not more than 1/2 of It of the <br />reasonable attorneys' fees and costs of title evidence; sale price, <br />sums secured by this Deed of Trust; and (c) the excess, if any, to the 1 <br />person or persons legally entitled thereto. <br />24• ACCELE�nTION: pRFAny�t�+um pRIV77F� Upon any default by <br />Borrower and following the acceleration of maturity as herein <br />provided, a tender of payment of the amount necessary to satisfy the <br />entire indebtedness secured hereby made at any time prior to <br />foreclosure sale (including sale under power of sale) by the Borrower, <br />
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