201103305 - Laserfiche WebLink

Browse

�� 18. Foreclosure Procedure. If Lender requires immediate payment in full nnder paragraph 9, Lender may invoke the pawer of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all espenses incurred in pursuing the remedies nnder this paragraph 18, including, but not limited to, reasonable attomeys' fees and costs of title evidence. If the gawer of sale is invoked, Trustee shall record a notice of default in each connty in wluch any part of the Property is located and shall mail copi� of such notice in the manner pregcribed by applicable law to Borrower and ta the other gersons prescribed by applicable law. After the time r�uired by applicable law, Trustee shall give public notice of sale to the persons and in the manner pr�ribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at pnblic auction to the highest bidder at the time and place and nnder the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public annonncement at the fame and place of any preoiously scheduled sale. Lender or its designee may pnrchase the Property at any sale. If the Lender's interest in this Security Instrument is held by the Secretary and the Secretaty requires immediate payment in fnll under Paragraph 9, the Secretary may invoke the nonjudicial power o� sale pro�ided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") {12 U.S.C. 3751 et seq.) by requesting a foreclosnre cammissioner d�ignated under the Act to commence foreclasnre and to sell the Property as provided in the Act. Nothing in the precedi� sentence shall deprive the Secretary of ang rights otherwiae aoailable to a Lender under this Paragraph 18 or applicable Iaw. 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 e�idence 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 expens� of exercising the power of sale, and the sale, inclnding the payment of the Trustee's fees actnally incnrred, not to exceed . 000 % of the principal amount of tha note at the time of the declaration of defanit, and reasonable attorneys' fees as permitted by law; (b) to all swms secm'ed by this Securit� Instrument; and (c) any excess to the person or persons legally entitled to it. 19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trrustee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without warranty and withont charge to the person or persons legally entitled to it. Such person or gersons shall pay any recordation costs. 20. Substitute Trustee. Lender, at its option, may from time to tinne remove Trustee and appoint a successor trustee to any Trustee apgointed hereunder by an instrument recorded in the county in which this Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the tifle, power and duties conferred upon Trustee herein and by applica.ble law. 21. Request for Notices. Borrower requests tha.t copies of the notices of default a.nd sale be sent to Borrower's address which is the Properly Address. 22. Riders to this Security Instrument. ff one or more riders are executed by Borrower and recorded together with this Security 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)] . ❑ Condom.inium Rider � Growing Equity Rider � Other [specifYl 0 Planned Unit Development Rider � Graduated Payment Rider ��-4R(NE! �aeo� � Page 7 of 8 i„rneis: