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200507874
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200507874
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Last modified
10/17/2011 11:05:21 AM
Creation date
10/28/2005 11:51:36 AM
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DEEDS
Inst Number
200507874
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200507874 <br />(d) Borrower consents to the assignment of all or any part of this Security Instrument, the Note, the <br />Assignment, and all other Loan Documents and the Debt without notice to Borrower and without the necessity of <br />filing for record any instrument and waives to the fullest extent permitted under Mississippi law any requirements <br />of law to the contrary. <br />(e) This Security Instrument also is a financing statement filed as a fixture filing covering goods that <br />are or are to become fixtures related to the Property and the Improvements. The owner of the Property and the <br />Improvements is the debtor. <br />(f) Any sale or disposition of the Collateral that constitutes personal property shall be made and <br />advertised in accordance with Miss. Code Ann. § 13 -3 -165, including, without limitation, posting of a notice of <br />the time, terms and place of the sale in three public places in the county, one of which shall be at the courthouse. <br />(g) Notwithstanding anything to the contrary in this Security Instrument, Borrower may reinstate an <br />accelerated debt which is due in installments at any time prior to the foreclosure sale by paying the amount of the <br />Note or installment then due, or past due by its terms, with all accrued costs, attorneys' fees and trustee's fees on <br />the amount actually past due by the terms of the instrument. Upon such payments, and in accordance with Miss. <br />Code Ann. § 89 -1 -59, the Debt shall be reinstated according to its terms, and the foreclosure sale stopped. <br />(h) Notwithstanding anything to the contrary contained in this Security Instrument, upon payment of <br />the amounts due prior to acceleration, together with the costs of taking and preparing the collateral for sale and <br />attorneys' fees incurred therewith, Borrower, any secondary obligor or another secured party may redeem <br />personal property collateral in accordance with Miss. Code Ann. § 75 -9 -623. <br />(i) In the event of any inconsistencies between this Section and the other provisions contained in this <br />Security Instrument, the terms and conditions of this Section shall control and be binding. <br />Section 18.41. Certain Matters Relating to Property Located in Missouri. With respect to the Property <br />located in the State of Missouri, notwithstanding anything contained herein to the contrary: <br />(a) FUTURE ADVANCES ARE SECURED HEREBY PURSUANT TO SECTION 443.055 OF <br />THE REVISED STATUTES OF MISSOURI TO THE MAXIMUM FACE AMOUNT OUTSTANDING AT <br />ANY TIME OF TWO (2) TIMES THE LOAN AMOUNT. <br />(b) In the event any foreclosure advertisement is running or has run at the time of such appointment of <br />a successor Trustee, the successor Trustee may, to the extent permitted by applicable law, consummate the <br />advertised sale without the necessity of republishing such advertisement. <br />(c) Upon the occurrence of an Event of Default, the Trustee shall, at the request of Lender, proceed to <br />sell the Property as one parcel in its entirety or any part thereof, either in mass or in parcels, at the absolute <br />discretion of Trustee, at public venue, to the highest bidder for cash at the door of the Court House or other <br />location then customarily employed for that purpose in the county (or city) where the Property is located, first <br />giving notice of the time and place of sale, and a description of the property to be sold, by advertisement <br />published and as is provided by the laws of the State of Missouri then in effect, and upon sale shall execute and <br />deliver a deed of conveyance of the property sold to the purchaser or purchasers thereof, and any statement or <br />recital of fact in such deed, in relation to the non - payment of the money hereby secured to be paid, existence of <br />the indebtedness so secured, notice of advertisement, sale and receipt of the proceeds of sale, shall be presumptive <br />evidence of the truth of such statements or recital. The power of sale hereunder shall not be exhausted by any one <br />or more such sales (or attempts to sell) as to all or any portion of the Property remaining unsold, but shall continue <br />unimpaired until all of the Property has been sold or the Note and all other indebtedness of Borrower to Lender <br />secured hereby shall have been paid in full. <br />
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