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201103711
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Last modified
5/25/2011 8:55:08 AM
Creation date
5/17/2011 3:53:57 PM
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DEEDS
Inst Number
201103711
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�Oiia3711 <br />18. Foreclosure Procedure. If Lender requir� immediate payment in fnll under paragraph 9, Lender may <br />in�oke the power of sale and any other remedi� permitted by applicable law. Lender shall be entitled to collect <br />all expenses incnrred in pursuing the remedie,s nnder this paragraph 18, including, bnt not limited to, <br />reasonable attorneys' fe� and costs of title evidence. <br />If the power of sale is inooked, Trustee shall record a notice of default in each connty in wluch any part of <br />the Property is located and shall mail copies of such notice in the manner prescribed by applicable law to <br />Borrower and to the other persons prescribed by applicable Iaw. After the time required by applicable Iaw, <br />Trastee 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 pnblic suction to the highest bidder at the time and <br />place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee <br />determin�. Trustee may postpone sale of all or any parcel of the Property by pnblic annonncement 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 Secnrity Instrament is held by the Secretary and the Secretary requir� <br />immediate payment in fnll nnder Paragraph 9, the Secretary may invoke the non,judicial power of sale <br />provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751 et seq.) by reqn�ting <br />a foreclosnre commissioner designated nnder the Act to commence foreclosure and to sell the Property as <br />provided in the Act. Nothing in the preceding sentence shall deprive the Secretaty 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, Trastee shall deliver to the pnrchaser Trustee's deed conoeying <br />the Property. The recitals in the Trustee's deed shall be pritna facie evidence of the trnth of the statements <br />made therein. Trastee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of <br />exercising the power of sale, and the sale, inclnding the payment of the Trustee's fees actnally incnrred, not to <br />exceed . 000 % of the principal amonnt of the note at the time of the declaration of default, <br />and ressonable attorneys' fe� as permitted b� law; (b) to all sums secured by this Secnrity Instrument; and (c) <br />any ezc�s to the person or persons legally entitled to i� <br />19. Reconveyance. Upon payment of all sums secured by this Security Instrument, Lender shall request Trustee <br />to reconvey the Progeriy 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. 5uch person or gersons shall pay any recorda.tion costs. <br />20. Snbstitute Trustee. Lender, at its option, may from time 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 Instrument <br />is recorded. Without conveyance of the Property, the successor trustee shall succeed. to all the tifle, power and duties <br />conferred upon Trustee herein and by applicable law. <br />21. R�n�t for Notices. Bonower requests that copies of the notices of default and sale be sent to Borrower's <br />address which is the Properly Ad.dress. <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 />Inshument. [Check applicable box(es)] . <br />0 Condominium Rider � Growing Equity Rider � Other [sgecify] <br />❑ Pla.nned Unit Development Rider ❑ Graduated Payment Rider <br />�-4R(NE) taeo� ) PBee ��` e i�ais: T' <br />� <br />�l��/ <br />
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