Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the Indebtedness due to Lender.
Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the indebtedness due to Lender after application of all amounts received from the exercise of the rights provided in this section. Tenancy at Sufferance. If Grantor remains in possession of the Property after the Property is sold as provided above or Lender otherwise becomes entitled to possession of the Property upon default of Grantor, Grantor shall become a tenant at sufferance of Lender or the purchaser of the Property and shall, at Lender’s option, either (1) pay a reasonable rental for the use of the Property, or (2) vacate the Property immediately upon the demand of Lender.
Deficiency Judgment. Lxxxxx may obtain a judgment for any deficiency remaining in the Indebtedness due to Lender after application of all amounts received from the exercise of the rights provided in this section.
Deficiency Judgment. Grantor acknowledges that in any foreclosure proceeding or thereafter, Beneficiary may seek a deficiency judgment against Grantor or any other obligor on the debt.
Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for any deficiency remaining in the Indebtedness due to Lender after application of all amounts received from the exercise of the rights provided in this section. Election of Remedies. Except as may be prohibited by applicable law, all of Lender's rights and remedies, whether evidenced by this Agreement or by any other writing, shall be cumulative and may be exercised singularly or concurrently. Election by Lender to pursue any remedy shall not exclude pursuit of any other remedy, and an election to make expenditures or to take action to perform an obligation of Grantor under this Agreement, after Grantor's failure to perform, shall not affect Lender's right to declare a default and exercise its remedies.
Deficiency Judgment. A monetary judgment rendered by a court of com- petent jurisdiction after foreclosure and liquidation of all collateral secur- ing the loan. Energy projects. Commercially avail- able projects that produce or distribute energy or power and/or produce bio- mass or biogas fuel. Commercially available energy projects that utilize technology that has a proven operating history, and for which there is an es- tablished industry for the design, in- stallation, and service (including spare parts) of the equipment.
Deficiency Judgment. If it is determined by an authority of competent jurisdiction that a dis- position by Secured Party did not occur in a commercially reasonable manner, Secured Party may obtain a deficiency from Debtor for the difference between the amount of the Obli- gation foreclosed and the amount that a com- mercially reasonable sale would have yielded.[63]
Deficiency Judgment. Nothing set forth herein shall preclude Xxxxxxx from proceeding under the Note instead of under this Agreement. If Xxxxxxx exercises his rights under this Agreement and receives proceeds of sale of the Collateral that are insufficient to cover in full all Enforcement Costs and all other amounts due under the Note and this Agreement, Xxxxxxx shall have the right to a deficiency judgment against the Pledgor.
Deficiency Judgment. If the lender agrees to take less than the mortgage balance and the short sale was successful, the secured debt is no longer secured to an asset and the borrower is released from liability, correct? No, not necessarily. Per state law, the lender has a period of time after the sale to pursue the difference between what was owed and what was paid from the borrower. If there was a junior lien (2nd, 3rd mortgage) that didn’t get paid at all, they also may pursue the borrower. This financial obligation is called a deficiency judgment. Short Sale v Foreclosure Decision Some states do not allow a lender to pursue a deficiency judgment against a borrower after the asset is closed. Nevada is one of the states that do allow for deficiency judgments. The deficiency judgment statute of limitations is the reason that many borrowers choose a foreclosure over a short sale. If a borrower decided to find a buyer for the lender and see the transaction through, they are still kept on the hook for the remaining balance of the lien for years to come. The statute of limitations of deficiency judgment liability is presently a couple of years less for a foreclosure over a short sale. When deciding between the two options, often times the statute of limitation in state law on deficiency judgments is a primary determiner.
Deficiency Judgment. As to that portion of the Collateral situated in the State of North Dakota, Mortgagee (or any successor to Mortgagee as mortgagee hereunder) has the right to proceed to obtain and collect a deficiency judgment, together with foreclosure of the real property mortgaged under the applicable laws of the State of North Dakota.
(c) The following shall be substituted for Clauses (A) and (B) of the second paragraph on the page numbered 3 of the Mortgage:
(A) the payment of the Promissory Note dated January 5, 2001, executed by Mortgagor, payable to the order of Mortgagee, in the face amount of $3,000,000, as now in effect or as hereafter amended, extended or replaced (the "2001 Note"), having a maturity date of January 5, 2008, with interest at an annual rate equal to the fluctuating annual rate announced from time to time by Mortgagee as its base rate or prime rate (currently, 4.0 percent per annum), which may not be the lowest interest rate charged by Mortgagee (the "Base Rate"); (B) the payment of the Promissory Note dated March 22, 2004, executed by Mortgagor, payable to the order of Mortgagee, in the face amount of $3,000,000, as now in effect or as hereafter amended, extended or replaced (the "2004 Note"), having a maturity date of March 22,2011, with interest at an annual rate equal to Base Rate (the 2001 Note and the 2004 Note being collectively referred to herein as the "Notes");
(d) Exhibit A attached hereto shall be substituted for the Exhibit A previously attached to the Mortgage. To the extent that lands, leases and properties are described on Exhibit A attached hereto but were not described on the Exhibit A previously attached to the Mortgage, the Mortgage shall now be deemed to cover such additional lands, leases and properties. To the extent that lands, leases and properties are not described on Exhibit A attached hereto but were described on the Exhibit A previously attached to the Mortgage, the Mortgage is no longer intended to cover such omitted lands, leases and properties, and Lender hereby releases, reconveys and quitclaims to Mortgagor any and all right, title and interest which Lender has under the Mortgage in and to any and all such omitted lands, leases and properties. Mortgagor hereby grants, bargains, sells, assigns, transfers, pledges, mortgages and conveys, and grants a security interest in, the Mortgaged Properties to Lender, WITH POWER OF SALE; TO HAVE AND TO HOLD the Mortgaged Properties to Lender and its successors and assigns for...
