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201008793
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Last modified
11/24/2010 4:18:19 PM
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11/24/2010 4:18:19 PM
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DEEDS
Inst Number
201008793
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2U1008793 <br />18. F'oreclosure Procedure. if Lender reqaires immediate payment in full under paragraph 9, Lender may <br />invoke the power of sale and any other remedics permitted by applicable law. Lender shall be entitled to collect <br />all expenses incurred in pursuing the remedies undcr this paragraph l8, including, but not limited to, <br />reasonable attorneys' fees and costs of titic evidence. <br />If the power oF sale is invoked, Trustee shall record a notice of default in cach county in which any part of <br />the Property is located and shall mail copics oF such noticc in thc manner prescribed by applicable law to <br />Borrower and to the other persons prescribed by applicable law. Atter thc timc required by applicablc law, <br />Trustee shall give public notice of sale to thc persons and in the manner prescribed by applicable law. Trustee, <br />without demand on Borrower, shall sell the Property at public auction to the highest bidder at the tirne and <br />place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee <br />determines. 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 sa1e. <br />If the Lender's interest in this Secnrrty Instrurnent is held by the Secretary and the Secretary requires <br />immediate payment in full under Puragraph 9, the Secretary may invoke the nonjudicial power of sale <br />provided in the Single Family Mortgage Foreclasure Act of 1994 ("Act'� (12 U.S.C. 3751 et seq.) by requesting <br />a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as <br />provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights othcrwisc <br />available to a Lender under this Paragraph 18 or applicable law. <br />Upon receipt of payment of the price bid, Trustec shall delivcr to thc purchaser '1'rustee's deed canveyin� <br />the Property, 7'he recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements <br />miade therein. Trastce shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of <br />exercising the power of sale, and the sulc, including the paymcnt of thc 7'rustee's fees actually incurred, not to <br />exceed 5.000 % of the principal amount of thc notc at the time of the declaration of <br />default, and reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Security Instrument; <br />and (c) any excess to the person or persons legally entitled to it. <br />19. Reconveyance. Upon payrnent oF all sums secured by ihis Security Instrument, I,ender shall request 7'rustee <br />to reconvey the Property and shal) surrender this Security instrument and all notcs evidencing debt secured by this <br />Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and without charge to the <br />person or persons legally entitled to it. Such per5on or persons sha11 pay any recordation costs. <br />20. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a successor <br />trustee to any Trustee appointed hereunder by an instrument recorded in ihe county in which this Security Instrument <br />is recorded. Without canveyance of the Properly, the successor trustee shall succeed to all the title, power and duties <br />conferrcd upon Trustcc herein and by applicable law. <br />21. Request for Notices. Borrower requests that copies of the noeices of default and sale be sent to Borrower's <br />address which is the Property Address. <br />22. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together <br />with this Security Instrurnent, the covenants of each such rider shall be incorporated into and shall amend and <br />supplement the eovenants and agreements of this Security Instrument as if the rider(s) were a part of this Security <br />Instrumcnt. [Chcck appiieable box(es)]. <br />� Condominium Ctider 0 Growing Equity Rider [�] Other [specify] <br />� Planned Unit Dcvelopmcnt Rider 0 Graduated Payment Rider <br />1351014603 <br />�-4N(NE) �oaai� <br />� <br />Page 7 at 8 <br />Initials: "-'�- � ��� <br />
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