Texas Register, Volume 32, Number 44, Pages 7777-8060, November 2, 2007 Page: 7,960
7777-8060 p. ; 28 cm.View a full description of this periodical.
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before the date in the notice, Lender, at Lender's option, may declare all that I owe under this Loan Agreement to be immediately due and payable and may
invoke the power of sale and any other remedies permitted by Applicable Law. The sale will be conducted at a public place. The sale will be held:
a. on the first Tuesday of a month;
b. at a time stated in the notice or no later than 3 hours after the time; and
c. between 10:00 a.m. and 4:00 p.m.
I allow the Trustee to sell the Property to the highest bidder for cash in one or more pieces and in any order the Trustee determines. Lender may purchase the
Property at any sale.
Trustee will give a Trustee's deed to the foreclosure sale purchaser. A Trustee's deed will convey:
a. good title to the Property; and
b. title with promises of general warranty from me.
I will defend the purchaser's title to the Property against all claims and demands. The description of facts contained in the Trustee's deed will be sufficient to
legally prove the truth of the statements made in the deed. Trustee will apply the proceeds of the sale in the following order:
a. to all expenses of the sale, including court costs and reasonable Trustee's and attorneys' fees;
b. what I owe; and
c. any excess to the person or persons legally entitled to it.
If the Property is sold through a foreclosure sale governed by this Section, I or any person in possession of the Property through me, will give up possession
of the Property without delay. A person who does not give up possession is a holdover and may be removed by a court order.
BORROWER'S RIGHT TO REINSTATE AFTER ACCELERATION
I have the right to stop Lender from enforcing the Loan Agreement any time before the earliest of:
a. 5 days before sale of the Property under any power of sale included in the Loan Agreement;
b. the day required by Applicable Law for the termination of my right to reinstate; or
c. the entry of a judgment enforcing the Loan Agreement.
I can stop the enforcement of the Loan Agreement and reinstate the Loan Agreement if all the following conditions are met:
a. Lender is paid what I owe under the Loan Agreement as if no acceleration had occurred;
b. I cure any default of any promise or agreement;
c. Lender is paid all expenses allowed by Applicable Law, including reasonable attorneys' fees and other fees incurred for the purpose of protecting
Lender's interest in the Property and rights under the Loan Agreement;
d. I comply with any reasonable requirement to assure Lender that Lender's interest in the Property will remain intact; and
e. I comply with any reasonable requirement to assure Lender that my ability to pay what I owe will remain intact.
Lender may require me to pay for the reinstatement in one or more of the following forms:
a. cash;
b. money order;
c. certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are
federally insured; or
d. Electronic Funds Transfer.
Upon reinstatement, the Loan Agreement will remain effective as if no acceleration had occurred. However, this right to reinstate will not apply if I sell or
transfer any interest in the Property without Lender's permission.
ASSIGNMENT OF RENTS, APPOINTMENT OF RECEIVER, LENDER IN POSSESSION
As additional security, I assign to you the rents of the Property, provided that you have the right, prior to acceleration or abandonment of the Property, to
collect and retain the rents as they become due. Upon acceleration or abandonment, you, by agent or by court-appointed receiver, will be entitled to enter,
take possession, manage the Property, and collect due and past due rents. All rents you or the court-appointed receiver collect will be applied first to payment
of the cost of management of the Property and collection of rents, including receiver's fees, premiums on receiver's bonds, and reasonable attorneys' fees, and
then to the sums secured by this Deed of Trust. You and the receiver will be liable to account only for rents received.
RELEASE
Lender will cancel and return the Note to me and give me, in recordable form, a release of lien securing the Loan Agreement or a copy of any endorsement
of the Note and assignment of the Lien to a Lender that is refinancing the Loan Agreement. I will pay only the cost of recording the release of lien.32 TexReg 7960 November 2, 2007 Texas Register
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Texas. Secretary of State. Texas Register, Volume 32, Number 44, Pages 7777-8060, November 2, 2007, periodical, November 2, 2007; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth97421/m1/179/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.