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24110�553 <br />18. Foreclosure Procedure. If Lender requires immediate paymeut 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 ezpenses incurred in pursuing the remedies under t}us paragraph 18, including, but not limited to, <br />reasouable attorneys' fees and costs of title evidence. <br />If the power of sale is invoked, Trustee sha11 record a notice of default in each county in which 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 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 lughest bidder at the time and <br />place and under the tenms designated in the notice of sale in one or more parcels and in any order Trustee <br />determines. Trustee may postpone sale of all or any parcel of the Property by pnblic 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 tIus Security Instrument is held by the Secretary and the Secretary requires <br />immediate payment in full under Paragraph 9, 4he 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 seg.) by requesting <br />a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as <br />provided in the Act Notlung in the preceding sentence shall deprive the Secretary of any rights otherwise <br />available to a Lender under this Paragraph 18 or a�pticable 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 eapenses of <br />ezercising the power of sale, and the sale, including the payment of the Trustee`s fees actually incurred, not to <br />ezceed 5. 000 % of the principal amount of the ttote at the time of the declaration of <br />default, and reasonable attorneys' fees as permittec� by law; (b) to all sums secured by this Security Instrument; <br />and (c) any ezcess to the person or persons legally entitled to it. <br />19. Reconveyance. Upon payment of all sums secured by this Security Insmzment, Lender shall request Trustee <br />to reconvey the Properly and sha11 surrender this Security Instrument and all notes evidettcing 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 enritled to it. Such person or persons sha11 pay any recordation costs. <br />20. Substitute Trustee. Lender, at its option, may from rime to time remove Tnistee 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 sha11 succeed to a11 the title, power and duties <br />conferred upon Trustee herein and by applicable law. <br />21. Request for Notices. Borrower requests tha.t copies of the notices of default and sale be sent to Bozrower's <br />address which is the Property Address. <br />22. Riders to this Security In.Strument If one or more riders aze executed by Borrower and recorded together <br />with this Secutity Instrument, the covenants of each such rider sha11 be incorporated into aud 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 � Gzowing Equity Rider ❑ Other [specify] <br />� Planned Unit Development Rider � Graduated Payment Rider <br />i3511I2221 <br />Initlels: • � <br />VMP�-4N(N� (oaor).o� PaBe 7 ot 8 <br />�' 4.�, . <br />