201002886 - Laserfiche WebLink

Browse

201002880 Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice of breach to Borrower. However, bender or a judicially appointed receiver may do so at any time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other right or remedy of lender. This assignment of rents of the Property shall terminate when the debt secured by the Security Instrument is paid itt full. 18. Foreclosure Procedure. If [ender requires immediate payment in full under Paragraph 9, lender may invoke the power of sale and any other remedies perntilled by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in ibis Paragraph 18, including, but not limited tv, .reasonable attorneys' fees and costs of title evidence. If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of the Property is located and shall mail copies of such notice in the manner prescribed by applicable faw to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Harrower, shall sell the Property at 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 parcels and in arty order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously sc}teduled sale. lender or its designee may purchase the Property at any sale. Upon receipt of payment of ttte price bid, Trustee shall deliver to the pttrchaser Trustee's deed conveying the Property. 'fhe recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred, not to exceed .50p0 % of the principal amount of the note at the time of the declaration of default, and reasonable attvrrreys' fees as permitted by law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. If the lender's interest in this Security Instrtuttent is held by the Secretary and the Secretary requires immediate payment in full under Paragraph 9, the Secretary may invoke fire nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et seJc .) by requesting a foreclosure conunissioner designated under the Act to cornrttence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights plherwise available to a Lender under this Paragraph 18 or applicable law. 19. Reconveyautce. Upon payment of all sums secured by this 5ecurlly Instrument, Lender shall request Trustee tv reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property wiWout warranty and without charge to the person ar persons legally entitled to it. Such person or persons shall pay any recordation casts. ~tl. 5uhstitute Trustee. Lender, at its option, may from time to time remove Trustee and appoink a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. 21. Request for Notices. Borrower requests that topics of the notices of default and sale be sent to Borrower's address which is the Property Address. 22. Riders to this Security 1[nskrttttreut. If one or more riders are executed by Borrower and recorded together with this Security Instrutrtent, the covenants of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. [Check applicable box(es)] ^ Condominium Rider D Growing )equity Rider ^ Planned Urtit Development Rider ~ Graduated Payment Rider ^ Other(s) [specify] (}V2171-7 (69G} page 7 of ti 1111111 VIII 11111111111II11 11111 11111 11111 11111 11111 1111 1111111 111 111111 11111 11111 11111 1111 1111 1~ 0 1 y~ 5 D 7 d G V 2 1 7 ], FFIA Nebraska 17ced of"I'rust z~~~ °~