Acceleration; Foreclosure. Upon the occurrence of an Event of Default, the entire unpaid principal balance of the Mortgage Loan, any Accrued Interest, interest accruing at the Default Rate, the Prepayment Premium (if applicable), and all other Indebtedness shall at once become due and payable, at the option of Lender, without any prior notice to Borrower, unless applicable law requires otherwise (and in such case, after any required notice has been given). Lender may exercise this option to accelerate regardless of any prior forbearance. In addition, Lender shall have all rights and remedies afforded to it hereunder and under the other Loan Documents, including, foreclosure on and/or the power of sale of the Mortgaged Property, as provided in the Security Instrument, and any rights and remedies available to it at law or in equity (subject to Borrower’s statutory rights of reinstatement, if any, prior to a Foreclosure Event). Any proceeds of a foreclosure or other sale under this Loan Agreement or any other Loan Document may be held and applied by Lender as additional collateral for the Indebtedness pursuant to this Loan Agreement. Notwithstanding the foregoing, the occurrence of any Bankruptcy Event shall automatically accelerate the Mortgage Loan and all obligations and Indebtedness shall be immediately due and payable without notice or further action by Lender.
Acceleration; Foreclosure. Upon the occurrence of any Event of Default and at any time thereafter while such Event of Default exists, Lender may, at its option, exercise one or more of the following rights and remedies (and any other rights and remedies available to it):
Acceleration; Foreclosure. Upon the occurrence of any Event of Default, the Mortgagee may, at its option, exercise one or more of the following rights and remedies (and any other rights and remedies which are available to the Mortgagee under applicable law or other collateral documents):
Acceleration; Foreclosure. Upon the occurrence of any Event of Default and at any time thereafter while such Event of Default exists, Mortgagee may, at its option, after such notice as may be required by law, exercise one or more of the following rights and remedies (and any other rights and remedies available to it):
Acceleration; Foreclosure. During the term of this lease and with RD approval, LANDLORD may make changes in basic and/or note rents in accordance with RD regulations. TENANTS will receive at least a 30-day notice prior to the effective date of the increase. Tenant contribution may be changed period to expiration of the lease if the change is due to changes in tenant status as documented on the Tenant Certification form or the Tenant’s failure to properly recertify. There will be no escalation in tenant contribution if rental assistance or interest credit is terminated due to the fault of management or the owner. There will be no escalation in tenant contribution during acceleration of the note or liquidation. Tenant contribution must remain as if interest credit and/or rental subsidy were still in place and available had acceleration not occurred. The terms of the lease will remain in effect until the date acceleration and/or foreclosure is resolved.
Acceleration; Foreclosure. Lender shall have the right, at its sole option, to accelerate the maturity and demand payment in full of the secured indebtedness. Lender shall then have the right to commence appropriate foreclosure proceedings against the Property as provided in this Mortgage.
Acceleration; Foreclosure. Upon the occurrence of any Event of Default and during the continuance thereof, Mortgagee may, at its option, exercise one or more of the following rights and remedies (and any other rights and remedies available to it):
Acceleration; Foreclosure. Mortgagee shall have the right, at its sole option, to accelerate the maturity and demand payment in full of the Indebtedness. Mortgagee shall then have the right to commence appropriate foreclosure proceedings against the Premises as provided in this Mortgage.
Acceleration; Foreclosure. Grantee shall have the right, at its sole option, to accelerate the maturity and demand immediate payment in full of all or any portion ofthe Secured Obligations. Grantee shall then have the right to commence appropriate foreclosure proceedings against the Mortgaged Property and against Grantor’s rights as provided in this Mortgage.
Acceleration; Foreclosure. If any Event of Default has occurred and is continuing, Mortgagee may, in additional to any other rights and remedies available to it, (and is hereby authorized and empowered to) foreclose this Mortgage by action or advertisement pursuant to the statutes of the State of Minnesota in such case made and provided, power being expressly granted to sell the Mortgaged Property at public auction and convey the same to the purchaser in fee simple and, out of the proceeds arising from such sale, to pay all indebtedness secured hereby, with interest, and all legal costs and charges of such foreclosure and the maximum attorneys' fees permitted by law, which costs, charges and fees Mortgagor agrees to pay.
