Deed of Trust or Mortgage Sample Clauses

Deed of Trust or Mortgage. The Beneficiary may elect to treat this instrument as either a deed of trust or as a mortgage, but not both. Upon the occurrence of an Event of Default, or at any time thereafter, the Beneficiary or the Trustee may declare all sums secured hereby immediately due and payable either by commencing an action to foreclose this Deed of Trust as a mortgage, or by the delivery to the Trustee of a written declaration of default and demand for sale and of written notice of default and of election to cause the Collateral to be sold, which notice the Trustee shall cause to be duly filed for record in case of foreclosure by exercise of the power of sale herein. The decision by the Beneficiary to pursue its remedies and foreclose either by acting under the Deed of Trust as a deed of trust by exercise of the power of sale (and as otherwise set forth herein) or by acting under the Deed of Trust as a mortgage by exercise of a judicial foreclosure (and as otherwise set forth herein) may be made by the Beneficiary at the Beneficiary’s sole option and discretion.

Deed of Trust or Mortgage. The term deed of trust or mortgage as used in this Contract shall include mortgages and any other mortgage instrument in common use in the State of Missouri.

Deed of Trust or Mortgage. Upon the occurrence of an Event of Default, the Beneficiary or the Trustee may declare all sums secured hereby immediately due and payable either by commencing an action to foreclose this Deed of Trust, or by the delivery to the Trustee of a written declaration of default and demand for sale and of written notice of default and of election to cause the Collateral to be sold, which notice the Trustee shall cause to be duly filed for record in case of foreclosure by exercise of the power of sale herein. The decision by the Beneficiary to pursue its remedies and foreclose either by exercise of the power of sale (and as otherwise set forth herein) or by judicial foreclosure (and as otherwise set forth herein) may be made by the Beneficiary at the Beneficiary’s sole option and discretion.

Deed of Trust or Mortgage. The term “Deed of Trust or Mortgage” shall mean each Deed of Trust or Mortgage securing the payment of the Note and the payment and performance of all obligations specified in the Deed of Trust or Mortgage and this Loan Agreement, and evidencing a valid and enforceable first and prior lien on and direct assignment of the Restaurant Property, and any future amendments or supplements thereto.