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HomeMy WebLinkAboutNotice of Default and Election to Sell Under Deed of Trust joAintivLb' p 1. RECORDING REQUESTED BY: WHEN RECORDED MAIL TO: THE FOLLOWING COPY OF'NOTICE', RECONTRUST COMPANY THE ORIGINAL OF WHICH WAS FILED 1800 Tapo Canyon Rd.,CA6-914-01-94 FOR RECORD ON 01/28/2010 IN THE SIMI VALLEY, CA 93063 OFFICE OF THE RECORDER OF San Luis Obispo COUNTY,CALIFORNIA SENT TO YOU INASMUCH AS AN EXAMINATION Attn: Maricela Sandoval OF THE TITLE TO SAIDTRUST TS No. 10-0013469 PROPERTY SHOWS YOU MAY HAVE AN INTEREST IN THE TRUSTEE'S SALES Title Order No. 4368290 PROCEEDINGS SPACE ABOVE THIS LINE FOR RECORDER'S USE NOTICE OF DEFAULT AND ELECTION TO SELL UNDER DEED OF TRUST IMPORTANT NOTICE IF YOUR PROPERTY IS IN FORECLOSURE BECAUSE YOU ARE BEHIND IN YOUR PAYMENTS, IT MAY BE SOLD WITHOUT ANY COURT ACTION, and you may have the legal right to bring your account in good standing by paying all of your past due payments plus permitted costs and expenses within the time permitted by law for reinstatement of your account,which is normally five business days prior to the date set for the sale of your property. No sale date may be set until three months from the __ date this_notice of-default may-be recorded (:which-date-of recordation appears on this notice). This amount is $41,900.29, as of 01/27/2010 and will increase until your account becomes current. While your property is in foreclosure,you still must pay other obligations (such as insurance and taxes) required by your note and deed of trust or mortgage. If you fail to make future payments on the loan, pay taxes on the property, provide insurance on the property, or pay other obligations as required in the note and deed of trust or mortgage, the beneficiary or mortgagee may insist that you do so in order to reinstate your account in good standing. In addition,the beneficiary or mortgagee may require as a condition to reinstatement that you provide reliable written evidence that you paid all senior liens, property taxes, and hazard insurance premiums. Upon your written request,the beneficiary or mortgagee will give you a written itemization of the entire amount you must pay. You may not have to pay the entire unpaid portion of your account, even though full payment was demanded,but you must pay all amounts in default at the time payment is made. However,you and your beneficiary or mortgagee may mutually agree in writing prior to the time the notice of sale is posted (which may not be earlier than the end of the three month period stated above)to, among other things, (1) provide additional time in which to cure the default by transfer of the property or otherwise; or(2) establish a schedule of payments in order to cure your default; or both (1) and (2). TS No. 10-0013469 Following the expiration of the time period referred to in the first paragraph of this notice, unless the obligation being foreclosed upon or a separate writtenagreement between you and your creditor permits a longer period,you have only.the legal right to stop the sale of your property by paying the entire amount demanded by your creditor. To find out the amount you must pay, or to arrange for payment to stop the foreclosure, or if your property is in foreclosure for any other reason, contact: CITIBANK,N.A.,AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.BEAR STEARNS ALT-A TRUST,MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2006-4. C/O BAC Home Loans Servicing,LP 400 COUNTRYWIDE WAY SV-35 SIMI VALLEY, CA 93065 FORECLOSURE DEPARTMENT (800) 669-6650 If you have any questions,you should contact a lawyer or the governmental agency which may have insured your loan. Notwithstanding the fact that your property is in foreclosure,you may offer your property for sale,provided the sale is concluded prior to the conclusion of the foreclosure. YOU MAY LOSE LEGAL RIGHTS IF YOU DO NOT TAKE PROMPT ' ACTION. NOTICE,IS-HEREBY-GIVEN THAT:=RECONTRUST--COMP-ANY,-N.A.,-is acting as an -- - — --- agent for the Beneficiary under a Deed of Trust dated 04/07/2006, executed by WILLIAM G. JAMES AND LESLIE R.JAMES,HUSBAND AND WIFE AS COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP as Trustor,to secure certain obligations in favor of MORTGAGE ELECTRONIC REGISTRATION SYSTEMS,INC. as beneficiary recorded 04/18/2006, as Instrument No. 2006026690 (or Book,Page) of Official Records in the Office of the County Recorder of San Luis Obispo County, California. Said obligation including ONE NOTE FOR THE ORIGINAL sum of$ 315,000.00. That a breach of, and default in,the obligations for which such Deed of Trust is security has occurredin that payment has not been made of: FAILURE TO PAY THE INSTALLMENT OF PRINCIPAL,INTEREST AND IMPOUNDS WHICH BECAME DUE ON 10/01/2008 AND ALL SUBSEQUENT INSTALLMENTS OF PRINCIPAL, INTEREST AND IMPOUNDS, TOGETHER WITH ALL LATE CHARGES,PLUS ADVANCES MADE AND COSTS INCURRED BY THE BENEFICIARY,INCLUDING FORECLOSURE FEES AND COSTS AND/OR ATTORNEYS' FEES. IN ADDITION, THE ENTIRE PRINCIPAL AMOUNT WILL BECOME DUE ON 04/07/2006 AS A RESULT OF THE MATURITY OF THE OBLIGATION ON THAT DATE. TS No. 10-0013469 That by reason thereof,the present beneficiary under such deed of trust has executed and • delivered to RECONTRUST COMPANY,N.A. such deed of trust and all documents evidencing obligations secured thereby, and has declared and does hereby declare all sums secured thereby immediately due and payable and has elected and does hereby elect to cause the trust property to be sold to satisfy the obligations secured thereby. If required by the provisions of Section 2923.5 of the California Civil Code,the declaration from the mortgagee, beneficiary or authorized agent is attached to the Notice of Default duly recorded with the appropriate County Recorder's office. Dated: January 27,2010 RECONTRUST COMPANY,N.A., as agent for the Beneficiary By Form mignod(12/09)