Deficiency Judgments Clause Samples

Deficiency Judgments. If after foreclosure of this Mortgage or Mortgagee's sale hereunder, there shall remain any deficiency with respect to any amounts payable under the Secured Debt Documents, including hereunder, or any amounts secured hereby, and Mortgagee shall institute any proceedings to recover such deficiency or deficiencies, all such amounts shall continue to bear interest at the interest rate on the Notes. Mortgagor waives any defense to Mortgagee's recovery against Mortgagor of any deficiency after any foreclosure sale of the Mortgaged Property. Subject to the Collateral Trust Agreement and the other Secured Debt Documents, to the extent permitted by law, Mortgagor expressly waives any defense or benefits that may be derived from any statute granting Mortgagor any defense to any such recovery by Mortgagee. In addition, Mortgagee shall be entitled to recovery of all of their reasonable costs and expenditures (including without limitation any court imposed costs) in connection with such proceedings, including their reasonable attorneys' fees, appraisal fees and the other costs, fees and expenditures referred to in Section 3.17 above. This provision shall survive any foreclosure or sale of the Mortgaged Property, any portion thereof and/or the extinguishment of the lien hereof.

Deficiency Judgments. Pursuant to the Trust Agreement, the Holders of the Subordinate Certificates that are or may be affected by a Realized Loss on a Liquidated Mortgage Loan are deemed to have repurchased the ownership interest in such Liquidated Mortgage Loan held by Holders of the Senior Certificates. In connection with the liquidation of a Mortgage Loan, if (i) the Servicer is directed by the Master Servicer to seek a deficiency judgment, (ii) the Servicer is offered suitable indemnification and reimbursement for expenses from the Holders of Subordinate Certificates, and (iii) such action is permitted by law, the Servicer shall seek a deficiency judgment under such Liquidated Mortgage Loan on behalf of the Holders of the Subordinate Certificates to the extent of any Realized Loss. MONTHLY REPORTING FORMAT TO NORWEST BANK The format for the tape should be: 1. Record length of 240 2. Blocking factor of 07 records per block 3. ASCII 4. Unlabeled tape 5. 6250 or 1600 BPI (please indicate)

Deficiency Judgments. To the extent permitted by Governmental Rule and subject to Article 9 of the Credit Agreement, if after foreclosure of this Deed of Trust or Trustee’s sale hereunder, there shall remain any deficiency with respect to any amounts payable under the Credit Agreement, including hereunder, or any amounts secured hereby, and Beneficiary shall institute any proceedings to recover such deficiency or deficiencies, all such amounts shall continue to bear interest at the Default Rate. To the extent permitted by Governmental Rule and subject to Article 9 of the Credit Agreement, Trustor waives any defense to Beneficiary’s recovery against Trustor of any deficiency after any foreclosure sale of the Mortgaged Property. To the extent permitted by Governmental Rule and subject to Article 9 of the Credit Agreement, Trustor expressly waives any defense or benefits that may be derived from any statute granting Trustor any defense to any such recovery by Beneficiary. In addition, Beneficiary and Trustee shall be entitled to recovery of all of their reasonable costs and expenditures (including without limitation any court imposed costs) in connection with such proceedings, including their reasonable attorneys’ fees, appraisal fees and the other costs, fees and expenditures referred to in Section 3.14 above. This provision shall survive any foreclosure or sale of the Mortgaged Property, any portion thereof and/or the extinguishment of the lien hereof.

Deficiency Judgments. Pursuant to the Trust Agreement, the Holders of the Subordinate Certificates that are or may be affected by a Realized Loss on a Liquidated Mortgage Loan are deemed to have repurchased the ownership interest in such Liquidated Mortgage Loan held by Holders of the Senior Certificates. In connection with the liquidation of a Mortgage Loan, if (i) the Servicer is directed by the Master Servicer to seek a deficiency judgment, (ii) the Servicer is offered indemnification and reimbursement acceptable to it for expenses from the Holders of Subordinate Certificates, and (iii) such action is permitted by law, the Servicer shall seek a deficiency judgment under such Liquidated Mortgage Loan on behalf of the Holders of the Subordinate Certificates to the extent of any Realized Loss. MONTHLY REPORTING FORMAT TO ▇▇▇▇▇ FARGO BANK The format for the tape should be: 1. Record length of 240 2. Blocking factor of 07 records per block 3. ASCII 4. Unlabeled tape 5. 6250 or 1600 BPI (please indicate) COBOL Field Name Position Length "picture" ---------- -------- ------ --------- Trailer Record: Number of Records 001-006 6 9(06) FILLER ▇▇▇-▇▇▇ ▇▇▇ X(234) Field Names and Descriptions: Field Name Description ---------- ----------- Master Servicer No. Hard code as "01" used internally Unit Code Hard code as " " used internally Loan Number Investor's loan number Borrower Name Last name of borrower Old Payment Amount P&I amount used for the applied payment Old Loan Rate Gross interest rate used for the applied payment Servicer Fee Rate Servicer's fee rate Servicer Ending Balance Ending actual balance after a payment has been applied Servicer Next Due Date Borrower's next due date for a payment Curtailment Amount 1 - Before Amount of curtailment applied before the payment Curtailment Date 1 Date of curtailment should coincide with the payment date applicable to the curtailment Curtailment Amount 1 - After Amount of curtailment applied after the payment Curtailment Amount 2 - Before Amount of curtailment applied before the payment Curtailment Date 2 Date of curtailment should coincide with the payment date applicable to the curtailment Curtailment Amount 2 - After Amount of curtailment applied after the payment Curtailment Amount 3 - Before Amount of curtailment applied before the payment Curtailment Date 3 Date of curtailment should coincide with the payment date applicable to the curtailment Curtailment Amount 3 - After Amount of curtailment applied after the payment New Payment Amo...

Deficiency Judgments. If after foreclosure of this Deed of Trust or Trustee's sale hereunder, there shall remain any deficiency with respect to any amounts payable under the Notes or hereunder or any amounts secured hereby, and Beneficiary shall institute any proceedings to recover such defi- ciency or deficiencies, all such amounts shall continue to bear interest at the Default Rate. Trustor waives any defense to Beneficiary's recovery against Trustor of any deficiency after any foreclosure sale of the Trust Estate. Trustor expressly waives any defense or benefits that may be derived from any statute granting Trustor any defense to any such recovery by Beneficiary. In addition, Beneficiary and Trustee shall be entitled to recovery of all of their reasonable costs and expenditures (including without limitation any court imposed costs) in connection with such proceedings, including their reasonable attorneys' fees, appraisal fees and the other costs, fees and expenditures referred to in Section 4.18 above. This provision shall survive any foreclosure or sale of the Trust Estate, any portion thereof and/or the extinguishment of the lien hereof.

Deficiency Judgments. If the proceeds of any sale or other disposition of the Collateral are insufficient to pay all the Secured Obligations, the Borrower Parties shall be liable for the deficiency and the reasonable fees of any attorneys employed by the Secured Party to collect such deficiency. If it is determined by an authority of competent jurisdiction that a disposition by the Secured Party did not occur in a commercially reasonable manner, the Secured Party may obtain a deficiency from the Borrower Parties for the difference between the amount of the Secured Obligations foreclosed and the amount that a commercially reasonable sale would have yielded.

Deficiency Judgments. 17 D. Claim Requirements ..................................................... 18 Condition Twelve - Claim Settlement Option ................................................... 19

Deficiency Judgments. Pursuant to the Trust Agreement, the Holders of the Subordinate Certificates that are or may be affected by a Realized Loss on a Liquidated Mortgage Loan are deemed to have repurchased the ownership interest in such Liquidated Mortgage Loan held by Holders of the Senior Certificates. In connection with the liquidation of a Serviced Mortgage Loan, if (i) the Servicer is directed by the Trustee to seek a deficiency judgment, (ii) the Servicer is offered suitable indemnification and reimbursement for expenses from the Holders of Subordinate Certificates, and (iii) such action is permitted by law, the Servicer shall seek a deficiency judgment under such Liquidated Mortgage Loan on behalf of the Holders of the Subordinate Certificates to the extent of any Realized Loss.

Deficiency Judgments. Lessor, for itself and for each and every succeeding owner of Lessor’s estate in the Scarlett Property, agrees that it shall not be entitled to seek a personal judgment against Lessee and that upon any Event of Default hereunder, the rights of Lessor to enforce the obligations of Lessee, its successors or assigns, or to collect any judgment, shall be limited to the termination of this Lease and of Lessee’s estate and the enforcement of any other rights and remedies specifically granted to Lessor hereunder.