HomeMy WebLinkAboutDenise Gober - Warranty Deed Of Trust page 7 of 918. Foreclosure Procedure. If Lender requires immediate payment in full under paragraph 9, Lender may
invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect
all expenses incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to,
reasonable attorneys' fees and costs of title evidence.
If Lender invokes the power of sale, Lender shall execute or cause Trustee to execute written notice of the
occurrence of an event of default and of Lender's election to cause the Property to be sold, and shall cause such
notice to be recorded in each county in which any part of the Property is located. Lender or Trustee shall mail
copies of the notice as prescribed by applicable law to Borrower and to other persons prescribed by applicable
law. Trustee shall -give public notice of sale to the persons and in the manner prescribed by applicable law.
After the time required 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. Trustee 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 designee
may purchase the Property at any sale.
Trustee shall deliver to the purchaser Trustee's deed conveying the Property without any covenant or
warranty, expressed or implied The recitals in the Trustee's deed 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 all
expenses of the sale, including, but not limited to, reasonable Trustee's and attorneys' fees; (b) to all sums
secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it.
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
provided 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 a Lender under this Paragraph 18 or applicable law.
19. Reconveyance. Upon payment of all sums -secured by this Security Instrument, Lender shall request Trustee
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 without charge to the
person or persons legally entitled to it. Such person or persons shall pay any recordation costs.
20. Substitute Trustee. Lender may, for any reason or -cause, from time to time remove Trustee and appoint a
successor trustee to any Trustee appointed hereunder. Without conveyance of the Property, the successor trustee shall
succeed to all the title, power and duties conferred upon Trustee herein and by applicable law.
21. Area and Location of Property. Either the Property is not more than forty acres in area or the ,Property is
located within an incorporated city or village.
22. Riders to this Security Instrument. If 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)].
Condominium Rider � -Growing Equity Rider 0 Other {specify]
® Planned Unit Development Rider 0 'Graduated Payment Rider Noti1HFAce
Recapture
Notice Rider & Tax
.Exempt Financing
Rider
Initials
'43t4R(ID) (0509) Page 7 of 9