201103639 - Laserfiche WebLink

Browse

201103639 18. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may invoke the �wer of sale and any other remedies �rmitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies under this paragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If the �wer 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 gersons prescribed by applicable law. After the time r�uired by applicable law, Trustee shall give public notice of sale to the �rsons and in the manner prescrib� by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest 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 determines. Trustce may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designce may purchase the Property at any sale. If the Lender's interest in this Security Instrument is held by the Secretary and the 5ecretary requires immediate payment in full under Paragraph 9, the Secretary may invoke the noqjudicial power of sale provided in the Siagte Family Mortgage Foreclosure Act of 1994 ("Act") (12 U S.C. 375i d seq.) by r�uest�g a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Properiy as provided in the Act. Nothing in the preceding sentence shall deprive the 5ecretary of any rights otherwise available to a Lender under this Paragraph 18 or applicable law. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trust�'s deed conveying the Property. The recitals in the Trust�'s deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the pr�ceds of the sale in the following order: (a) to all costs and expenses of exercising the power of sale, and the sale, including the payment of the Trustee's fces actually incurred, not to exceed 0. 0 0 0% of the principal amount of the note at the time of the declaration of default, and reasonable attorneys' fces as permitt� by law; (b) to all sums secured by this Security Instrument; and (c) any ea�cess to the person or persons legally entitled to it. 19. Reconveyance. Upon payment of all sums s�ured by this Security Instrument, Lender shall request Tnistee to reconvey the Property and shall surrender this Security Instrument and all notes evidencing debt secured by this S�urity Insirument to Trustee. Trustce shall reconvey the Property without warranty and without charge to the person or persons legally entitle� to it. Such person or persons shall pay any recordation costs. 20. Substitute Trustee. Lender, at its option, may from time to time remove Trustee and appoint a suc.cessor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Security Instrument is r�orded. 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. 21. Request for Notices. Bonower requests that copies of the notices of default and sale be sent to Bonower's address which is the Property Address. 22. Riders to this Security Instrument. If one or more riders are execute� by Bonower and recorded together with this Security Instnunent, the covenants of each such rider shall be incor,�rated into and shall amend and supplement i�e covenants and agreements of this Security Instrument as if the rider(s) were a part of this Se�urity Instrument. [Check applicable box(es)]. � Condominium Rider 0 Growing Equiry Rider � Other [sp�ify] 0 Planned Unit Development Rider � Graduated Payment Rider N I FA Fo rm E-1 �� FHA Deed of Trust-NE q/gg VMP B � VMP4R(NE) (0809) Wolters Kluwer Financial Services Page 7 of 9