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202403388
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Last modified
7/22/2024 12:32:00 PM
Creation date
7/22/2024 12:31:56 PM
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DEEDS
Inst Number
202403388
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202403388 <br />Loan Number 685550188 <br />remedies, including, but not limited to: (i) reasonable attorneys' fees and costs; and (ii) other fees <br />incurred to protect Lender's interest in the Property and/or rights under this Security Instrument. <br />(c) Notice of Sale; Sale of Property. If the power of sale is invoked, Trustee will record a <br />notice of default in each county in which any part of the Property is located and will mail copies of <br />such notice in the manner prescribed by applicable law to Borrower and to the other required <br />recipients. After the time required by applicable law, Trustee will give public notice of sale to the <br />persons and in the manner prescribed by applicable law. Trustee, without further demand on <br />Borrower, will 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 determines. <br />Trustee may postpone sale of all or any parcel of the Property by public announcement at the time <br />and place of any previously scheduled sale. Lender or its designee may purchase the Property at any <br />sale. <br />(d) Trustee's Deed; Proceeds of Sale. Upon receipt of payment of the price bid, Trustee <br />will deliver to the purchaser a Trustee's deed conveying the Property. The recitals in the Trustee's <br />deed will be prima facie evidence of the truth of the statements made in that deed. Trustee will apply <br />the proceeds of the sale in the following order: (i) to all costs and expenses of exercising the power of <br />sale, and the sale, including the payment of the Trustee's fees actually incurred and reasonable <br />attorneys' fees and costs as permitted by applicable law; (ii) to all sums secured by this Security <br />Instrument; and (iii) any excess to the person or persons legally entitled to it. <br />(e) Secretary's Remedies. Notwithstanding the foregoing paragraphs (a) -(d), if the <br />Lender's interest in this Security Instrument is held by the Secretary and the Secretary requires <br />immediate payment in full under Paragraph 4 of the Note, 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 will <br />deprive the Secretary of any rights otherwise available to a Lender under this section 7 or applicable <br />law. <br />8. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender <br />will request Trustee to re -convey the Property and will surrender this Security Instrument and all notes <br />evidencing the debt secured by this Security Instrument to Trustee. Upon such request, Trustee will <br />reconvey the Property without warranty to the person or persons legally entitled to it. Borrower will pay <br />any recordation costs associated with such reconveyance. Lender may charge Borrower a fee for <br />reconveying the Property, only if the fee is paid to a third party (such as the Trustee) for services <br />rendered and is permitted under applicable law. <br />91001215v24.1 <br />Version 06_07_2024_01_00_47 <br />ID <br />1Hu <br />(page 5 of 6) <br />
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