STG Foreclosure Commissioner's Deed

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STG Foreclosure Commissioner's Deed

Form Document
09/25/2006
V 1

FORECLOSURE COMMISSIONER'S DEED

This indenture made this _____ day of __________ .

WHEREAS, on ____________________ , a certain Mortgage [Deed of Trust] [Mortgage Deed] [Security Deed] was executed by ____________________________ as mortgagor [trustor] [grantor], in favor of the United States of America acting by and through the Secretary of Housing and Urban Development (the Secretary) as mortgagee [beneficiary] [grantee] [and ____________________________ as trustee], and was recorded on __________________ , in Book _____ , Page _____ , [as Instrument number __________ ,} in the Office of the ________________ , _____________________ County, _________________ ; and

WHEREAS, by virtue of a default in the covenants and conditions of the Mortgage [Deed of Trust] [Mortgage Deed] [Security Deed], the Secretary designated me as foreclosure commissioner to conduct a nonjudicial foreclosure of the Mortgage [Deed of Trust] [Mortgage Deed] [Security Deed] under the provisions of the multifamily Mortgage Foreclosure Act of 1981 (the Act) 12 U.S.C. 3701 et seq.; and

WHEREAS, a Notice of Default and Foreclosure Sale was sent by certified or registered mail (1) on __________________ , to _______________________ , the owner of the property secured by the mortgage as shown by the public record on _______________ , (2) on _____________________ , to ________________ , __________________ , and ________________ , the parties shown on the public record as of __________________ to be liable for part or all of the mortgage debt, and (3) on ________________________ , to ___________________________ , and _____________________________________ , the parties who as of ________________ , had a lien on the property secured by the Mortgage; and

WHEREAS, a copy of the Notice of Default and Foreclosure sale was published in the ______________________ on _____________ , and ______________________ ; and

WHEREAS, a copy of the Notice of Default and Foreclosure Sale was posted in a prominent place at ___________________________ on ___________________ ; and

WHEREAS, pursuant to the Notice of Default and Foreclosure Sale and to the Act, a foreclosure sale was held on _____________ , at which _______________________ submitted the highest bid in the amount of $ ____________ ; and

WHEREAS, the following costs were incurred in conducting the foreclosure sale:

a. $ ________________ for advertising and postage expenses incurred in mailing, and publishing the Notice of Default and Foreclosure Sale.

b. $ ________________ for mileage expenses incurred in posting the Notice of Default and Foreclosure Sale, and the Commissioner's attendance at the foreclosure sale.

c. $ ________________ for reasonable and necessary costs incurred for title and lien record searches.

d. $ ________________ for the Commissioner's necessary out-of-pocket expenses incurred for recording documents.

e. $ _______________ as commission to the foreclosure commissioner.

NOW, THEREFORE, for one dollar and other good and valuable considerations, the undersigned hereby grants, bargains, sells, and conveys to _______________________ , the following described property located in ______________________ County:

The grantor hereby conveys to the grantee all right, title and interest in the above property held by the grantor herein, the Secretary, [the trustee, _________________________ ] [the mortgagor] [trustor] [the grantor under the Deed of Trust] or any other party claiming by, through, or under them on the date the Mortgage [Deed of Trust] {Security Deed] referred to above was recorded and any interest acquired by any of them until the date of the foreclosure sale.

________________________________
Foreclosure Commissioner
[Address}

{Acknowledgment]

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