Declaration of Default; Acceptance. Lender shall (1) deliver to Trustee a written declaration of an Event of Default which recites facts which demonstrate Borrower’s default, and a demand that Trustee sell the Property, and (2) deposit the Note and this Security Instrument, if required by law, with Trustee. Trustee shall accept Lender’s declaration of an Event of Default as true and as demonstrative of Borrower’s default, and shall record and serve a written notice of default and of election to cause the Property to be sold in the manner required by applicable law.
Appears in 3 contracts
Samples: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Pebblebrook Hotel Trust), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Morgans Hotel Group Co.), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Morgans Hotel Group Co.)
Declaration of Default; Acceptance. Lender shall (1) deliver to Trustee a written declaration of an Event of Default which recites facts which demonstrate Borrower’s Xxxxxxxx's default, and a demand that Trustee sell the Property, and (2) deposit the Note and this Security Instrument, if required by law, with Trustee. Trustee shall accept Lender’s Xxxxxx's declaration of an Event of Default as true and as demonstrative of Borrower’s Xxxxxxxx's default, and shall record and serve a written notice of default and of election to cause the Property to be sold in the manner required by applicable law.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement and Fixture Filing (Glimcher Realty Trust)
Declaration of Default; Acceptance. Lender shall (1) deliver to Trustee a written declaration of an Event of Default which recites facts which demonstrate BorrowerXxxxxxxx’s default, and a demand that Trustee sell the Property, and (2) deposit the Note and this Security Instrument, if required by law, with Trustee. Trustee shall accept LenderXxxxxx’s declaration of an Event of Default as true and as demonstrative of BorrowerXxxxxxxx’s default, and shall record and serve a written notice of default and of election to cause the Property to be sold in the manner required by applicable law.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Maguire Properties Inc)
Declaration of Default; Acceptance. Lender shall (1) deliver to Trustee a written declaration of an Event of Default which recites facts which demonstrate Borrower’s 's default, and a demand that Trustee sell the Property, and (2) deposit the Note and this Security Instrument, if required by law, with Trustee. Trustee shall accept Lender’s 's declaration of an Event of Default as true and as demonstrative of Borrower’s 's default, and shall record and serve a written notice of default and of election to cause the Property to be sold in the manner required by applicable law.. (ii)
Appears in 1 contract
Samples: Deed of Trust
Declaration of Default; Acceptance. Lender shall (1) deliver to Trustee a written declaration of an Event of Default which recites facts which demonstrate BorrowerXxxxxxxx’s default, ; and a demand that Trustee sell the Property, and (2) deposit the Note and this Security Instrument, if required by law, with Trustee. Trustee shall accept LenderXxxxxx’s declaration of an Event of Default as true and as demonstrative of BorrowerXxxxxxxx’s default, and shall record and serve a written notice of default and of election to cause the Property to be sold in the manner required by applicable law.
Appears in 1 contract
Samples: Mortgage Security Agreement (Ashford Hospitality Trust Inc)
