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20110227ti receive all rents and revenues of the Property as trustee for the benefit of Lender and Borrower_ This assignment of. ... rents constitutes an absolute assignment and not an assignment for addirional security only. - If Lender gives notice of breach to Borrower: (a) all rents received by Bonower shall be held by Borrower as trustee for benefit of Lender only, to be applied to the sums secwed by the Security Tnstrument; (b) Lender shall be entitied to collect and receive all of the rents of the Property; and (c) each tenant of the Property shall pay all rents due and impaid to Lender or Lender's agent on Lender's written demand to the tenant. Borrower has not executed any prior assigunent of the rents and has not and will not perform any act that would prevent Lender from exercising its rights under this pazagraph 17. Lender shall not be required to enter upon, take control of or maitttain the Property before or after giving notice of breach to Borrower. However, Lender 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 Inshument is paid in full. 18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the power of sale and any'other remedies permitted by applicable law. Lender shall be entitled to collect all e�epenses incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of tifle 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 law 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 Borrower, shall sell the Property at public auction to the i►ighest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee detertnines. Trustee may postpone sale of all or any parcel of the Property 6y public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The 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 t6e sale, including the payment of the Trustee's fees actually incurred and reasonabl5 a�di�fleys' fees as permitted by applicable law; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entiUed to it. If the Leader's interest iu this Security Instrument is held by the Secretary and the Secretary requires immediate payment in full under paragraph 9, the Secretary may invoke the nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act'� (12 U.S.C. 3751 et seq.) by requesting a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender under this paragraph 18 or applicable law. 19. Reconveyance. Upon payment of all sums secured by this Security Instniment, Lender shall request Trustee to reconvey the Property and shall surrender this Security Instr�uinent and all notes evidencing debt secured by this Securiry Inshument to Trustee. Trustee shall reconvey the Property without warranty to the person or persons legally entitled to it. Such person or persons shall pay any recordation costs. Lender may charge such person or persons a fee for reconveying the Property, but only if the fee is paid to a third party (such as the Trustee) for services rendered and the chazging of the fee is pernritted under applicable law. 20. Substitute Trustee. Lender, at its option, may from rime to tune remove Trustee and appoint a successor hvstee to any Trustee appointed hereunder by an instrwnent 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 confened upon Trustee herein and by applicable law. Zl. Request for Notices. Barrower requests that copies of the notice of default and sale be sent to Borrower' s address which is the Property address. 22. Riders to this Seeurity Instrument. If one or more riders aze executed by Borrower and recorded together with this Securiry Instrument, 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 � Graduated Payment Rider � Growing Equity Rider � Planned Unit Development Rider � Adjvstable Rate Rider � Rehabilitation Loan Rider � Non-Owner Occupancy Rider � Other [Specify] Borrower Initials: A DEED OF TRUST - MERS 11/O1/08 Page 5 of 7 . IIIIIlIIlllllllll!lill IIII I i II I II I! 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