Laserfiche WebLink
2Q1102��w <br />18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may <br />invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect <br />all expenses incurred in pursuing the remedies under this paragraph 18, including, but not limited to, <br />reasonable attorneys' fees and costs of title evidence. <br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which any part of <br />the Property is located and shall maii copies of such notice in the manner prescribed by applicable law to <br />Borrower and to the other perso-ns prescribed by applicable law. After the time required by applicable law, <br />Trustee shall give public notice of sale to the 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 time and <br />place and under the terms designated in the aotice of sale in one or more parcels and in any order Trustee <br />determines. Trustee may postpone sale of ali 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 sale. <br />If the Lender's interest in this Security Instrument is held by the Secretary and the 5ecretary requires <br />immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial power of sale <br />provided in the Single Family Mortgage Foreclosure 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 otherwise <br />available to a Lender under this Paragraph 18 or applicable law. <br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying <br />the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements <br />made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and ezpenses of <br />exercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred, not to <br />exceed 5. 000 % of the principal amount of the note 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 entitleci to it. <br />19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee <br />to reconvey the Property and shall surrender this Security Instrument and all notes 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 person or persons shall pay any recordation costs. <br />20. Substitute Trustee. Lender, at its option, may from tixne to time remove Trustee and appoint a successor <br />trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security 3nstrument <br />is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties <br />conferred upon Trustee herein and by appiicable law. <br />- —"— 21: Request for Notices. Borrower requests that copies of the notices 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 Instrument, the covenants of each such rider shall be incorporated into and shall amend and <br />supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security <br />Instrument. [Check applicable box(es)]. <br />0 Condominium Rider 0 Growing Equity Rider � Other [specify] <br />� Planned Unit Development Rider ❑ Graduated Payment Rider <br />1351102361 <br />VMP�-4N(NE) �oao�).ot <br />Page 7 of 8 <br />� ► <br />� <br />�r ._ . . �" + „ � � ��� .. � }�.�:`� � �. <br />_ <br />: <br />:. <br />- <br />. , _.: „ ».�a:#�b,As.aw.a�c,. ,L'«.s�es.;.�±,s_��.. , �;.. _ : ... _.�. _. s, a,a...k.. � __ a ,. . _�;.. .,.� "�� ..� �.�'s��.'�:�x _._. ._ _...,....� _— -- x�s±=.:_s, _ �� - . � � _ . -=� <br />