201101668 - Laserfiche WebLink

Browse

20f10166� Trust, Lender's interest in the Property and rights under this Deed of Trust, and Borrower's obligation to pay the sums secured by this Deed of Trust, shall continue unchanged. Upon reinstatement by Borrower, this Deed of Trust and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 12 or 17. 20. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder, Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 18 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration under paragraph 18 hereof or abandonment of the Property, and at time prior to the expiration of any period of redemption following sale of the Property, Lender, (in person, by agent, or by judicially appointed receiver) shall be entitled to enter upon, take possession of, and manage the Property, and to collect the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Deed of Trust. Lender and the receiver shall be liable to account only for those rents actually received. 21. Reconveyance. Upon payment of all sums secured by this Deed of Trust, Lender shall request Trustee to reconvey the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this Deed of Trust to Trustee. Trustee shall reconvey the Property without warranty and without charge to the person or persons legally entitled hereto. Such person or persons shall pay all costs of recordation, if any. 22. Substitute Trustee. Lender, at Lender's option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Deed of Trust is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon the Trustee herein and by applicable lavu. 23. Subject to First Deed of Trust. This Deed of Trust is subject and subordinate to the following mortgage: Subject to a First Deed of Trust loan given on 02/28/2011 by Rebecca L Britton Sole (Individual) , Deed of Trust given to U.S. Bank Home Mtg-Final Doc . (the "First Deed of Trust"). This Deed of Trust may not be foreclosed until such time as a foreclosure sale pursuant to the First Deed of Trust occurs. ' 24. Interest on Advances. The interest rate on advances made by Lender under paragraph 6 shall __ not exceed the maximum rate allowable by applicable law. 25. Nonrecourse. The obligation of the undersigned is nonrecourse, and Lender's sole recourse for payment of the Note shall be to the Property and other security provided for in the Note, and the Lender shall not be entitled to any deficiency after foreclosure of this Deed of Trust. 26. Request for Notices. Borrower requests that copies of the notice of default and notice of sale be sent to Borrower's address which is the Property Address. NE Entry CostAssistance Loan Deed of Trust 2200115166 Page 7of 8 0204 (ECAMNE) � \