201104693 - Laserfiche WebLink

Browse

20��04693 18. Foreclosure Procedure. ff Lender requires immediate payment in full under paragraph 9, Lender may invoke the power of sale and any other remedies permitt� by applicable law. Lender shall he entitled to collect all egpenses incurred in pursuing the remedies under this p�ragraph 18, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If the power of s�le 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 13me required by applicable law, Trustee shall give public notice of sale to the persons �nd in the manner prescribed by applicable l�w. Trustee, without demand on Borrower, shall sell the Property at public auction to the lughest bidder �t 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. Trustee may postpone sale of all or any p�rcel of the Properly by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. If the Lender's interest in 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 provid�l 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 s Lender under this Paragraph 18 or applicable law. 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 de� 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 �ll costs and egpenses of ezercising the power of sale, and the sale, including the payment of the Trustee's fees actually incurred, not to ezceed 0. 0 0 0 % of the principal amount of the note at the time of the declaration of default, and reasonable attorneys' f�s as permitted by law; (b) to all sums secured by this Security Instrument; �nd (c) any ezcess to the person or persons legally entitled to i� 19. Reconveyance. Upon payment of all sums s�ur� by this Security Instrument, Lender shall request Trustee to reconvey the Property and shall sunender this S�urity Instrument and all notes evidencing debt secur� by this Security Instrument to Truste�. Trust� shall reconvey the Propetty without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall pay any rec;ordation costs. 20. Substitute Trustee. Lender, at its option, may from time to time remove Trustce and appoint a successor trust� to any Trustee appointed hereunder by an instrument recorded in the county in which this S�urity Instrument is rei;orded. Without conveyance of the Property, the successor trust� shall succced to all the title, power and duties conferred upon Truste,e herein and by applicable law. Zl. 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 Instrumen� If one or more riders aze executed by Bonower and rec;orded together with this Se�urity Instrument, the covenants of each such rider shall be incorporat� 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)]. 0 Condominium Rider � Growing Equity Rider 0 Other [specify] � Planned Unit Development Rider 0 Graduated Payment Rider - -00 096 Initial • � � �-4N(NE) (oao�) Page 7 of 8 � O