HomeMy WebLinkAbout885708WHEN RECORDED MAIL TO:
Chase Manhattan Mortgage Corporation
Attention: Paid Accounts
10790 Rancho Bernardo Road ....
San Diego, California 92127
885708
RECEIVED
LINCOLN COIlNTy CLERK
LIMITED POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that Deutsche Bank Trust Company Americas,
formerly know,n as Bankers Trust Company (the "Company"), a NY banking,corporation organized and
existing under d-~e banking laws of the state of New York, 1761 East St. Andrew Place, Santa Aha.
California, 92705, not in its individual capacity but solely as Co-Trustee for the RURAL HOUSING TRUST
1987-01 (in such capacity, the "Trustee") pursuant to a Pooling and Servicing Agreement dated as o[
September 14, 1987 for the RURAL HOUSING TRUST, 1987-1, among thb Trustee and Chase
Manhattan Mortgage Corporation (the "Servicer" or "Successor Servicer") hereby constitutes and
appoints the Servicer, having an address at 10790 Rancho Bernardo Road, San Diego, California
92127 by and through the Servicer's officers, the Trustee's or the Custodian's true and lawful Attorney-in-
Fact, in the Trustee's or the Custodian's name, place and stead and for the Trustee's or the Custodian's
benefit, in connection with all mortgage loans serviced by the Servicer solely for the purpose of performing
such acts and executing such documents in the name of the Trustee or the Custodian as may be
necessary and appropriate to effectuate the following enumerated transactions in respect of any of the
mortgages or deeds of trust (the "Mortgages" and the "Deeds of Trust" respectively) and promissory notes
secured thereby (the "Mortgage Notes") for which the undersigned is acting as trustee for various
certificateholders, noteholders, or bondholders.
This Appointment shall apply only to the following enume'rated transactions and nothing herein or in the
Agreement shall be construed to the contrary:
The modification or re-recording of a Mortgage or Deed of Trust, where said modification
or re-recording is solely for the purpose of correcting !he .,Mortgage or Deed of Trust to
conform same 'to the original intent of the parties' 'thereto or to correct title errors
discovered after such title insurance was issued; provided that (i) said modification or re-
recording, in either instance, does not adversely affect the lien of the Mortgage or Deed of
Trust as insured and (ii) otherwise conforms to the provisions of the Agreement.
The subordination of the lien of a Mortgage or Deed of Trust to an easement in favor of a.
public utility company of a government agency or unit with powers of eminent domain; this
section shall include, without limitation, the execution of partial satisfactions/releases,
partial reconveyances or the execution or requests to t~:ustees to accb'rnplish same.
The conveyance of the properties to the mortgage insurer, or the closing of the title to the
property to be acquired as real estate owned, or conveyance of title to real.e, state owned.
The completion of loan assumption agreements.
The full satisfaction/release of a Mortgage or Deed of Trust or full conveyance upon
payment and discharge of all sums secured thereby, including, without limitation,
cancellation of the related Mortgage Note.
The assignment 'of any Mortgage or Deed of Trust and the related Mortgage Note, in
connection with the repurchase of the mortgage loan secured and evidenced thereby.
The full assignment of a Mortgage or Deed of Trust upon payment and discharge of all
sums secured thereby in conjunction with the refinancing thereof, including, without
limitation, the assignment of the related Modgage Note.
With respect to a Mortgage or Deed of Trust, the foreclosure, the taking of a deed in lieu
of foreclosure, or the completion of judicial or non-judicial foreclosure or termination,
cancellation or rescission of any such foreclosure, including, without limitation, any and all
of the following acts:
ac
the substitution of trustee(s) serving under a Deed of Trust, in accordance with
state law and the Deed of Trust;
the preparation and issuance of statements of breach or non-performance;-
the. preparation and filing of notices of default and/or notices of sale;
d. the cancellation/rescission of notices .of default and/or notices of sale;
e. the taking of deed in lieu of foreclosure; and
the preparation and execution of such other documents and performance of such
other actions as may be necessary under the terms of the Mortgage, Deed of
Trust or. state law to expeditiously complete said transactions in paragraphs 8.a.
through 8.e. above.
With respect to the sale of property acquired through a foreclosure or deed-in lieu of
foreclosure, including, without limitation, the execution of the following documentation:
a. listing agreements;
b. purchase and sale agreements;
grant/warranty/quit claim deeds or any other deed causing the transfer of title of
the property to a party contracted to purchase same;
d. escrow instructions; and
10.
e. any and all documents necessary to effect the transfer of property.
The modification or amendment of escrow agreements established for repairs to the
mortgaged property or reserves for replacement of personal property.
11.
To endorse checks, notes, drafts and other evidences of payment made payable to
Trustee, representing' payments or payment in full on accounts in the name of Trustee.
The undersigned gives said Attorney-in-Fact full power and authority to execute such instruments and to
do and perform all and every act and thing necessary and proper to carry into effect the power or powers
granted by or under this Limited Power of Attorney as fully as the undersigned might or could do, and
hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective as of April 15, 2002.
This appointment is to be construed and interpreted as a limited power of attorney. The enumeration of
specific items, rights, acts or powers herein is not intended to, nor does it give rise to, and it is not to be
construed as a general power of attorney.
2
I! '1968p
in part), any indemnification provided by l~e Servicer to lhe Trustee or lhe Cuslodian, or (ii) be conslrued
to grant the Servicer the power to initiate or defend any suit, litigation or proceeding in the name of
Deutsche Bank Trust Company Americai~, not in its individual capacit bU't solel as
RURAL _ ~ . . . y . ..Y . Trustee for the
HOUSING TRUST 1987 1. If th,9 Servicer receives any not,ce of suwt, hbgatlon or proceeding in
the name Deutsche Bank Trust Company Americas, then the Servicer shall promptly forward a copy of
same Deutsche Bank Trust Company ArCbricas.
This Limited Power of Attorney is entered into and shall be governed by the laws of the State of New York,
without regard to conflicts of law principles of such state.
Third parties without actual notice may rely upon the exercise of the power granted under this Limited
Power of Attorney; and may be satisfied that this Limited Power of Attorney shall continue in full force and
effect and has not been revoked unless an instrument of revocation has been made in writing by the
undersigned.
IN WITNESS' WHEREOF, Deutsche Bank Trust Company Americas as TrqstCe and as Custodian, has
caused its corporate seal to be hereta affixed and these presents to.be signed and acknowledged in its
name and behalf by a duly elected and authorized signatory this .. day of ,2002. ',JUN 2 ~, 200Z
Witnessed by:
Virgin~ Eastman--
Witnessed by:
Deutsche Bank Trust Company Americas, formerly known as
Bankers Trust Company, not in its individual caPacity but solely
as Co-Trustee for the RURAL HOUSING TRUST 1987-1.
Name: Kevin R Fischer
Title: Vice President
Mark J .//
^ss sta. e Pres ry
Genaro V Florez
By:..
Name:
Title:
"'. i';.,? ";
Acknowledged and Agreed
Chase Manhat4)an Mortgaj;l~Corporation
Nam~RuJz --
Title: Assistant Secretary
State of California ~?'~/";' ..~" ~ Ot~/ ] ~.~
2-,':)-
County of Orange
rj~)H ~- ¢ 20oz Pemr ~uuc Tr&n
On ., before me, , Kevin R Fischer and Mark
J Kelly, personally known' to me (or proved to me on the basis of satisfactory evidence)
to be the persons whose names are subscribed to the within instrument and
acknowledged to me that they executed the same in their authorized capacity, and that
by their signature on the instrument the person, or the entity upon behalf of which they
acted, executed the instrument.
WITNESS my hand and official seal.
COMM. # 1336288 ~
NOTARY PUliIL.IC'CAI- IFORNIA ~
OR^NG~ co'UN'r¥ .~
~~~.,MyCo~, Explres~~Doc, ~ 200S~
State of California
County of San Diego } S.S.
77
On 8th day July, 2002 before me, Gabriel Rico, a Notary Public in and for said County
and State, personally appeared Karen Taylor, Assistant Vice President of Chase Manhattan
Mortgage Corporation, personally known to me (or proved to me on the basis of Satisfactory
evidence) to be the person (s) whose name(s) is/are subscribed to the within Instrument and
acknowledged to me that he/she/they executed the same in his/her/their Authorized capacity(ies),
and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of
which the person(s) acted, executed the instrument. '
WITNESS"/ny hand and official seal
Signature ' ~
Gabriel Rico, Notary Public
Comm//1361426
My Comminssion Expires:. June 17 2006