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86101487
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86101487
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Last modified
10/18/2011 8:39:12 AM
Creation date
3/31/2008 2:12:50 PM
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DEEDS
Inst Number
86101487
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101487 <br />the debt hereby secured, without discharging or in any way affecting the <br />liability of the Borrower(s) hereunder or upon the debt secured. <br />If Lender exercises such option to accelerate, Lender shall mail <br />Borrower notice of acceleration in accordance with paragraph 14 hereof. <br />Such notice shall provide a period of not less than thirty (30) days from <br />the date the notice is mailed within which Borrower may pay the sums <br />declared due. If Borrower fails to pay such sums prior to the expiration <br />of such period, Lender nay, without further notice or demand on Borrower, <br />involve any remedies permitted by paragraph 18 hereof. <br />18. ACCELERATION; RM DIES. Except as provided in Paragraph 17 <br />hereof, upon mower s breaWoFany covenant or agreement of Borrower in <br />this Deed of Trust, including the covenants to pay when due any sums <br />secured by this Deed of Trust, Lender prior to acceleration shall mail <br />notice to Borrower as provided in Paragraph 14 hereof specifying (1) the <br />breach; (2) the action required to cure such breach; (3) a date, not less <br />than thirty (30) days from the date the notice is mailed to Borrower, by <br />which such breach must be cured; and (4) that failure to cure such breach <br />on or before the date specified in the notice may result in acceleration of <br />the sums secured by this Deed of Trust and sale of the Property. If the <br />breach is not cured on or before the date specified in the notice, Lender, <br />at Lender's option, may declare all of the sums secured by this Deed of <br />Trust to be immediately due and payable without further demand and may <br />involve the power of sale and any other remedies permitted by applicable <br />law. Lender shall be entitled to collect all reasonable costs and expenses <br />incurred in pursuing the remedies provided in this Paragraph 18, including, <br />but not limited to, reasonable attorney's fees. <br />If the power of sale is invoked, Trustee shall record a notice of <br />default in each county in which the Property or some part thereof is <br />located and shall mail copies of such notice in the manner prescribed by <br />applicable law to Borrower and to the other persons prescribed by <br />applicable law. After the lapse of such time as may be required by <br />applicable law, Trustee shall give public notice of sale to the persons and <br />in the manner prescribed by applicable law. Trustee, without demand on <br />Borrower, shall sell the Property at public auction to the highest bidder <br />at the time and place and under the terms designated in the notice of sale <br />in one or more parcels and in such order as Trustee may determine. Trustee <br />may postpone sale of all or any parcel of the Property by public <br />announcement at the time and place of any previously scheduled sale. Lender <br />or Lender's designee may purchase the Property at any sale. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the <br />purchaser a Trustee's deed conveying the Property sold. The recitals in <br />the Trustee's deed shall be prima facie evidence of the truth of the <br />statements made therein. Trustee shall apply the proceeds of the sale in <br />the following order: (a) to all reasonable costs and expenses of the <br />sale, including, but not limited to, Trustee's fees of not more than 1/2 of <br />17, of the gross sale price, reasonable attorney's fees and costs of title <br />evidence; (b) to all sums secured by this Deed of Trust; and (c) the <br />excess, if any, to the person or persons legally entitled thereto. <br />19. BQRROMW S RIGHT TO REINSTATE. Notwithstanding Lender's <br />acceleration ot the sums secured by this Deed of Trust, Borrm er shall have <br />the right to have any proceedings begun by Lerder to enforce this Deed of <br />Trust discontinued at arty time prior to the earlier to occur of (i) the <br />fifth day before the sale of the Property pursuant to the power of sale <br />contained in this Deed of Trust, or (ii) entry of a judgment enforcing this <br />Deed of Trust if: (a) Borrower pays Lender all sums which would be then <br />due under this deed of Trust and the Note, had no acceleration occurred; <br />(b) Borrower cures all breaches of any other covenants or agreements of <br />Borrower contained in this Deed of Trust; (c) Borrower pays all reasonable <br />expenses incurred by Lender and Trustee in enforcing the covenants and <br />Lagreements of Borrower contained in this Deed cf Trust and in enforcing <br />__ I <br />
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