Common use of Contractual Lien Clause in Contracts

Contractual Lien. (a) All of EBI’s nonexempt personal property on or in the Property is subject to a contractual lien (and EBI grants and conveys to the Company such a contractual lien) for the purpose of securing payment of EquityBase Payments and delinquent amounts due under this Agreement. To exercise the Company’s contractual lien, the Company will (1) peacefully enter the Property, including any storage facilities, (2) remove nonexempt personal property, and (3) leave a written notice of entry and an itemized list of the items removed in a conspicuous place within the dwelling, which states the amount of the delinquent EquityBase Payments; the name, address, and telephone number of the person EBI may contact about the amount owed; and that the personal property will be promptly returned after payment of the delinquent EquityBase Payments. EBI will pay all costs for packing, removing, and storing personal property seized by the Company. (b) If EBI abandons the Property or is evicted, the Company may peacefully enter, remove, and store all of EBI’s personal property (including any vehicles) remaining on or in the Property. The term “abandons” means that EBI is past due in EquityBase Payments and has not occupied the Property for five (5) or more consecutive days. The Company dispose of the seized personal property, including without limitation by means of a public or private sale, subject to any recorded chattel mortgage or financing statement, after giving EBI written notice sent to EBI’s last known address by first-class mail and certified mail, return receipt requested, at least thirty (30) days before the sale or other disposal. The notice of the sale must contain (1) the date, time, and place of the sale, if any (2) an itemized account of the amount owed by EBI, and (3) the name, address, and telephone number of the person EBI may contact about the sale or other disposal, the amount owed, and the right to redeem the personal property before it is sold or otherwise disposed of by paying the Company all delinquent EquityBase Payments and reasonable packing, moving, storage, and sale or other disposal costs. Any sale of the seized personal property will be to the highest cash bidder. Proceeds of the sale will first be applied to delinquent EquityBase Payments, packing, moving, storage, and sale costs. The Company will mail any remaining proceeds to EBI at EBI’s last known address no later than thirty (30) days after the sale along with an accounting of all proceeds of the sale. The procedures in this paragraph will not require a prior court hearing, nor will they subject the Company to any liability. EBI specifically waives any right EBI may have for a due-process hearing before the removal of any of EBI’s personal property. For avoidance of doubt, nothing in this Section 26 shall require the sale of any seized property; the Company shall have the right to dispose of the seized property without a sale after complying with the notice provisions set forth above in this Section 26.

Contractual Lien. (a) All of EBI’s nonexempt personal property on or in the Property is subject to a contractual lien (and EBI grants and conveys to the Company such a contractual lien) for the purpose of securing payment of EquityBase Payments and delinquent amounts due under this Agreement. To exercise the Company’s contractual lien, the Company will (1) peacefully enter the Property, including any storage facilities, (2) remove nonexempt personal property, and (3) leave a written notice of entry and an itemized list of the items removed in a conspicuous place within the dwelling, which states the amount of the delinquent EquityBase Payments; the name, address, and telephone number of the person EBI may contact about the amount owed; and that the personal property will be promptly returned after payment of the delinquent EquityBase Payments. EBI will pay all costs for packing, removing, and storing personal property seized by the Company. (b) If EBI abandons the Property or is evicted, the Company may peacefully enter, remove, and store all of EBI’s personal property (including any vehicles) remaining on or in the Property. The term “abandons” means that EBI is past due in EquityBase Payments and has not occupied the Property for five (5) or more consecutive days. The Company dispose of the seized personal property, including without limitation by means of a public or private sale, subject to any recorded chattel mortgage or financing statement, after giving EBI written notice sent to EBI’s last known address by first-class mail and certified mail, return receipt requested, at least thirty (30) days before the sale or other disposal. The notice of the sale must contain (1) the date, time, and place of the sale, if any (2) an itemized account of the amount owed by EBI, and (3) the name, address, and telephone number of the person EBI may contact about the sale or other disposal, the amount owed, and the right to redeem the personal property before it is sold or otherwise disposed of by paying the Company all delinquent EquityBase Payments and reasonable packing, moving, storage, and sale or other disposal costs. Any sale of the seized personal property will be to the highest cash bidder. Proceeds of the sale will first be applied to delinquent EquityBase Payments, packing, moving, storage, and sale costs. The Company will mail any remaining proceeds to EBI at EBI’s last known address no later than thirty (30) days after the sale along with an accounting of all proceeds of the sale. The procedures in this paragraph will not require a prior court hearing, nor will they subject the Company to any liability. EBI specifically waives any right EBI may have for a due-process hearing before the removal of any of EBI’s personal property. For avoidance of doubt, nothing in this Section 26 shall require the sale of any seized property; the Company shall have the right to dispose of the seized property without a sale after complying with the notice provisions set forth above in this Section 26.of

Contractual Lien. (a) All of EBIResident’s nonexempt personal property on or in the Property is subject to a contractual lien (and EBI Resident grants and conveys to the Company such a contractual lien) for the purpose of securing payment of EquityBase Base Payments and delinquent amounts due under this Agreement. To exercise the Company’s contractual lien, the Company will (1) peacefully enter the Property, including any storage facilities, (2) remove nonexempt personal property, and (3) leave a written notice of entry and an itemized list of the items removed in a conspicuous place within the dwelling, which states the amount of the delinquent EquityBase Base Payments; the name, address, and telephone number of the person EBI Resident may contact about the amount owed; and that the personal property will be promptly returned after payment of the delinquent EquityBase Base Payments. EBI Resident will pay all costs for packing, removing, and storing personal property seized by the Company. (b) If EBI Resident abandons the Property or is evicted, the Company may peacefully enter, remove, and store all of EBIResident’s personal property (including any vehicles) remaining on or in the Property. The term “abandons” means that EBI Resident is past due in EquityBase Base Payments and has not occupied the Property for five (5) or more consecutive days. The Company dispose of the seized personal property, including without limitation by means of a public or private sale, subject to any recorded chattel mortgage or financing statement, after giving EBI Resident written notice sent to EBIResident’s last known address by first-class mail and certified mail, return receipt requested, at least thirty (30) days before the sale or other disposal. The notice of the sale must contain (1) the date, time, and place of the sale, if any (2) an itemized account of the amount owed by EBIResident, and (3) the name, address, and telephone number of the person EBI Resident may contact about the sale or other disposal, the amount owed, and the right to redeem the personal property before it is sold or otherwise disposed of by paying the Company all delinquent EquityBase Base Payments and reasonable packing, moving, storage, and sale or other disposal costs. Any sale of the seized personal property will be to the highest cash bidder. Proceeds of the sale will first be applied to delinquent EquityBase Base Payments, packing, moving, storage, and sale costs. The Company will mail any remaining proceeds to EBI Resident at EBIResident’s last known address no later than thirty (30) days after the sale along with an accounting of all proceeds of the sale. The procedures in this paragraph will not require a prior court hearing, nor will they subject the Company to any liability. EBI Resident specifically waives any right EBI Resident may have for a due-process hearing before the removal of any of EBIResident’s personal property. For avoidance of doubt, nothing in this Section 26 shall require the sale of any seized property; the Company shall have the right to dispose of the seized property without a sale after complying with the notice provisions set forth above in this Section 26.