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201009529
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Last modified
1/11/2011 2:35:07 PM
Creation date
12/21/2010 3:19:19 PM
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DEEDS
Inst Number
201009529
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201009�29 <br />18. Foreclosure Procedure. It Lender requires immediatc payment in full undcr paragraph 9, I.ender may <br />invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to callect <br />all expenses incurred in pursuing the remedies under this paragraph 18, incMuding, but nnt limited to, <br />reasonable attorncys' fees and costs of title evidence. <br />If the power of sale is invoked, "I'rustee shall record a notice of default in each county in which any part of <br />the Proparty is located and shall mail copies of such natice in the manner prescribed by applicable law to <br />Bvrrower and to the other persons preseribed by applicable law. After the time required by applicable law, <br />Trustee shall give public natice of sale to the persons and in the manner prescribed by applicable law. Trustee, <br />without demand on Borrower, shall seil the Property at public auction to the highest bidder at the time and <br />place and under the terms designated in the notice af sale in one or more parcels and in any vrder Trustee <br />determines. 7"rustee may postpone sale of all or any parcel of the Property by puk�lic announcement at the time <br />and place of any previously scheduled sals. Lender or its designee may purchase the Praperty at any sals. <br />If the Lendew's interest in this Security Instrument is held 6y the Secretary and the Secretary requires <br />immediate payrnent in full undew Aaragraph 9, the Secretary may invoke the nanjudicial power of sale <br />provided in thc Single Family Mortgage Foreclosure Act of 1994 ("Act'� (12 U.S.C. 3751 et seg.) 6y requesting <br />a f'oreclosure commissioner designated under the Act to co►nmencc foreclosure and to sell the Property as <br />provided in the Act. Nothing in the preceding sentcnce shall deprive the 5ecwetary of any rights othewrvise <br />available tu a Lender under this Paragraph 18 or applicable law. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustce's deed conveying <br />the Property. 'T'he recitals in the Trustee's deed shall be prima facie evidence af the truth of the statements <br />made therein. Trustee shall apply the praeeeds of the sale in the following order: (a) to all costs and expenses of <br />exercising the pawer of sale, and the sale, including the payment of the Trustee's fees actaally incurred, not tu <br />exceed 5, 000 °/a of the principal amount ot the note at the t�rne of the deelaration of <br />default, und reasonable attorneys' fees as permitted by law; (b) to all sums secured by this Secuwity Instrument; <br />and (c) any excess tu the person ar persons legally entitied to it. <br />19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall r�quest Tnrstee <br />to recanvey the Property and shall surrender this Securiry Instrument and all notes evidencing debt secured by this <br />Sccurity Instrument to Trustee. Trustee shall reconvey the Aroperty without warranty and without charge to the <br />person or persnns legally entitled to it. Such person or persans shall pay any recordation casts. <br />2Q Substitute "1"rustee. Lender, at its optian, may from time to time remave Trustee and appoint a successar <br />trustee to any 7"rustee appointed hereunder by an instrument recorded in the county in which this Security instrumenc <br />is recorded. Withaut conveyance of the T'roperty, the successor trustee shall succeed to all the title, power and duties <br />conferred upon Trustee herein and by applicablc law. <br />Z1. Request for Notices. Borrower requests that copies af thc notices of default and sale be sent to 13orrower's <br />address which is the Property Address. <br />z2. Riders to this Security Instrument. tf one or more ridcrs are executed by Borrower and recorded together <br />with this Security Instrument, the covenants of each such rider shall be incorporated into and shall amcnd and <br />supplement the covenants and agreements of this Securiry Instrument as if' the rider(s) were a part of this Security <br />Inscrument. [Check applicable bax(es)]. <br />[� Condominium Rider � Growing Equity Rider � Other [specify] <br />�] Planned Unit bevelopment Rider � Graduated Payment Rider <br />1351016745 �/J <br />IniliBlS'� � �' ✓ ' � � <br />VMP�-4N(NE) �oao��.oi Page 7 oi a r, C <br />f" <br />
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