Tuesday, August 25, 2009

HUD Foreclosure - 70 North 500 West, Logan, UT 84321

> L02569634 HUD LN# 5214398317 TS# 09-10218-21 NOTICE OF DEFAULT AND
> FORECLOSURE SALE Whereas, on 12-30-1998 a certain (Deed of Trust)
> was executed by Hulda Jensen, as Trustor in favor of Zions Mortgage
> Company, as beneficiary and Zions First National Bank, N.A, as
> Trustee, and was recorded on 01/05/99, as Instrument No. 704212 book
> 863 page 290, in the Office of the Cache County, Utah Recorder, and
> Whereas, the Deed of Trust was insured by the United States
> Secretary of Housing and Urban Development, (the Secretary) pursuant
> to the National Housing Act for the purpose of providing single
> family housing; and Whereas, the beneficial interest in the Deed of
> Trust is now owned by the Secretary, pursuant to an assignment
> recorded on 02-03-2006, as Inst# 909643 book 1392 page 143 in the
> Office of the Cache County, Utah Recorder, and Whereas, a default
> has been made by reason of failure to pay all sums due under the
> Deed of Trust, pursuant to Paragraph 9 Subsection (i) of said Deed
> of Trust and Whereas, by virtue of this default, the Secretary has
> declared the entire amount of the indebtedness secured by the Deed
> of Trust to be immediately due and payable, Now therefore, pursuant
> to powers vested in me by the Single Family Mortgage Foreclosure Act
> of 1994, 12 U.S.C. 3751 et seq., by 24 CFR part 27, subpart B, and
> by the Secretarys designation of us as "Foreclosure Commissioner"
> notice is hereby given that on 09-22-2009 at 1:15PM local time, all
> real and personal property at or used in connection with following
> described premises ("Property") will be sold at public auction to
> the highest bidder: Commonly known as 70 North 500 West, Logan, UT
> 84321. More thoroughly described as The land referred to is located
> in the County of Cache, State of Utah, described as follows:
> Beginning at the Northwest corner of Lot 4, Block 10, Plat "A" Logan
> City Survey, and running thence South 3 rods; thence East 18 rods;
> thence North 3 rods; thence West 18 rods to the place of beginning,
> and further described as being situated in Section 33, Township 12
> North, Range 1 East of Salt Lake Base and Meridian. The sale will be
> held at the following location: at the Front Entrance to the Cache
> County District Court, 135 North, 100 West Logan Utah. Per the
> Secretary of Housing and Urban Development the estimated opening bid
> will be $125,542.94. There will be no pro-ration of taxes, rents or
> other income or liabilities, except that the purchaser will pay, at
> or before the closing, his prorata share of any real estate taxes
> that have been paid by the Secretary to the date of the foreclosure
> sale. When making a bid, all bidders except the Secretary must
> submit a deposit totaling ten percent (10%) of the Secretarys
> estimated bid amount, in the form of cashiers check made payable to
> the Foreclosure Commissioner. Each oral bid need not be accompanied
> by a deposit. If the successful bid is an oral, a deposit of
> $12,554.29 must be presented before the bidding is closed. The
> deposit is nonrefundable. The remainder of the purchase price must
> be delivered within 30 days of the sale or at such time as the
> Secretary may determine for good cause shown, time being of the
> essence. This amount, like the bid deposits, must be delivered in
> the form of a cashiers or certified check. If the Secretary is the
> high bidder, he need not pay the bid amount in cash. The successful
> bidder will pay all coveyancing fees, all real estate and other
> taxes that are due on or after the delivery of the remainder of the
> payment and all other costs associated with the transfer of title.
> At the conclusion of the sale, the deposits of the unsuccessful
> bidders will be returned to them. The Secretary may grant an
> extension of time with which to deliver the remainder of the
> payment. All extensions will be for 9-day increments for a fee of
> $500.00 paid in advance. The extension fee shall be in the form of
> certified or cashiers check made payable to the Commissioner. If the
> high bidder closes the sale prior to the expiration period, the
> unused portion of the extension fee shall be applied toward the
> amount due. If the high bidder is unable to close the sale within
> the required period, or within any extensions of the time granted by
> the Secretary, the high bidder may be required to forfeit the cash
> deposit or, at the election of the Foreclosure Commissioner after
> consultation with the HUD Field Office representative, will be
> liable to HUD for any costs incurred as a result of such failure.
> The Commissioner may, at the direction of the HUD Field Office
> Representative, offer the property to the second highest bidder to
> an amount equal to the highest price offered by that bidder. There
> is no right of redemption, or right of possession based upon a right
> of redemption, in the mortgagor or others subsequent to a
> foreclosure completed pursuant to the Act. Therefore, the
> Foreclosure Commissioner will issue a Deed to the purchasor(s) upon
> receipt of the entire purchase price in accordance with the terms of
> the sale as provided herein. HUD does not guarantee that the
> property will be vacant. The amount that must be paid if the
> Mortgage is to be reinstated prior to the scheduled sale is
> $125,392.94, as of 9/21/2009, plus all other amounts that would be
> due under the mortgage agreement if payments under the mortgage had
> not been accelerated. Plus advertising costs and postage expenses
> incurred in giving notice, mileage by the most reasonable road
> distance for posting notices and for the Foreclosure Commissioners
> attendance at the sale, reasonable and customary cost incurred for
> title and lien record searches, the necessary out-of-pocket costs
> incurred by the Foreclosure Commissioner of recording documents.
> Plus a commission for the Foreclosure Commissioner and all other
> costs incurred in connection with the foreclosure prior to
> reinstatement. Date: July 20, 2009 FORECLOSURE COMMISSIONER:
> Telephone No. 209-544-9658 Facsimile No. 209-544-6119 Cathey Latner
> Assistant Secretary 08/25/09, 09/01/09, 09/08/09 R-246275

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