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201001843
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Last modified
3/19/2010 4:06:55 PM
Creation date
3/19/2010 4:06:09 PM
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DEEDS
Inst Number
201001843
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2o~oois43 <br />18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may Invoke the <br />power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in <br />pursuing the remedies under this paragraph I8, including, but not limited to, reasonable attorneys' fees and costs of title <br />evidence. <br />Ifthe power of sale is invoked, Trustee seal) record a notice of default in each county in which any part of the Ptnperty <br />is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other <br />persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the <br />persons and in the meaner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at <br />public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in ane or more <br />parcels and in any order Trustee determines. Trustee may postpone salt of alt or any parcel of the Property by public <br />announcement at the time and place of any previously scheduled sale, Lender or its designee may purchase the Property at <br />any sale. <br />If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary requires immediate <br />payment in full under Paragraph 9, the Secretary may invoke the nanjudicfal power of sale provided in the Siugle Family <br />Mortgage Foreclosure Act of 1994 ("Act") (I2 U,S:C, 3751 et seq .) by requesting a foreclosure commissioner designated <br />under the Act to commence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence <br />shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 18 or applicable law. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's decd conveying the Property. <br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall <br />apply the proceeds of the sale io the following order: (a) to all costs and expenses of exercising the power of sak, and the <br />sale, including the payment of the Trustee's fees actually incurred, not to exceed U•000 <br />of the principal amount of the note at the time of the declaration of default, and reasonable attorneys' fees as permitted by <br />law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. <br />I9. Reconveyance. Upon payment of all sums scoured by this Security Instrument, tender shall request Trustee to <br />reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security <br />Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons <br />legally entitled to it. Such person or persons shall pay any recordation costs. <br />Z0. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to <br />any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. <br />Without conveyance of the Aroperty, [he successor trustee shall succeed to all the title, power and duties conferred upon <br />Trustee herein and by applicable law. <br />Zl, Request Tor Notices. Borrower requests that copies of the notices of default and sale be sent to Borrower's address <br />which is the Property Address. <br />22. Riders to this Security Instrument, If one or more riders are executed by Borrower and recorded together with this <br />Security Instrument, the covenants of each such rider shall be incorporated into and shall amend and supplement the <br />covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. [Check <br />applicable box(es)]. <br />^ Condominium Rider ^ Growing Equity Rider <br />^ Planned Unit Development Rider ^ Graduated Payment Rider <br />Qther [specify] E_g <br />FHA need of cruel-NE 4pg <br />VMP ® MPlR)NE) N6WGOU <br />W°Ihrs Kluwer FpancG,l Sarvicee PyOa 7 e1 B <br />DbS-N64 <br />i~nnnroe~Neit <br />
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