Foreclosure Against Property. (a) Grantee, at its option, may sell the Property or any part of the Property at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligations. (b) Grantee may bring an action in any court of competent jurisdiction to foreclose this Deed to Secure Debt. Upon any foreclosure sale, Grantee may bid for and purchase the Property and shall be entitled to apply all or any part of the Secured Obligations as credit to the purchase price. (c) All fees, costs and expenses of any kind incurred by Grantee in connection with foreclosure of this Deed to Secure Debt, including, without limitation, the costs of any appraisals of the Property obtained by Grantee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by Grantee, and all attorneys’ and consultants’ fees and expenses incurred by Grantee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor to Grantee at any foreclosure sale. (d) The proceeds of any sale under this Section shall be applied first to the fees and expenses of the officer conducting the sale, and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee may elect in its sole discretion; any surplus remaining shall be paid over to Grantor or to such other person or persons as may be lawfully entitled to such surplus. (e) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia law, and any such inconsistency shall be resolved in favor of Georgia law applicable at the time of foreclosure. (f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law. (g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
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Samples: Deed to Secure Debt, Security Agreement and Assignment of Leases and Rents (KBS Real Estate Investment Trust, Inc.), Deed to Secure Debt, Security Agreement and Assignment of Leases and Rents (KBS Real Estate Investment Trust, Inc.)
Foreclosure Against Property. Lender may foreclose this Deed of Trust, insofar as it encumbers the Property, either by judicial action or through a public trustee foreclosure sale through the Trustee in the manner provided by statute.
(a) GranteeIf this Deed of Trust encumbers more than one parcel of real estate, at foreclosure may be by separate parcel or lot or en masse, as Lender may elect in its optionsole discretion. Foreclosure through Trustee will be initiated by Lender's filing of its notice of election and demand for sale with Trustee. Upon the filing of such notice of election and demand for sale, may sell the Property or any part Trustee shall promptly comply with all notice and other requirements of the Property at laws of Colorado then in force with respect to such sales, and shall give four weeks' public sale or sales before the door notice of the courthouse time and place of such sale by advertisement weekly five times in some newspaper of general circulation then published in the county County in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligationslocated.
(b) Grantee may bring an action in any court of competent jurisdiction to foreclose this Deed to Secure Debt. Upon any foreclosure sale, Grantee may bid for and purchase the Property and shall be entitled to apply all or any part of the Secured Obligations as credit to the purchase price.
(c) All fees, costs and expenses of any kind incurred by Grantee the Trustee or Lender in connection with with, or preparation for, foreclosure of this Deed to Secure Debtof Trust, including, without limitation, the costs of any appraisals appraisals, engineering or environmental testing and evaluations of the Property obtained by Grantee, the cost of any title reports or abstractsLender, all costs of any receivership for the Property advanced by GranteeLender, and all attorneys’ ', legal assistants' and consultants’ fees ' fees, expert's evidence, stenographer's charges, publication costs, (which may be estimated as to items to be expended after foreclosure sale or entry of the decree) costs of procuring all such abstracts of title, title searches, title insurance policies, and expenses similar data with respect to title as Lender may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale the true condition of title to or value of the Property, incurred by GranteeLender, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor Borrower to Grantee Lender at any foreclosure sale. All expenditures and expenses of the nature in this paragraph mentioned, and such expenses and fees as may be incurred in the protection of the Property and the maintenance of the lien of this Deed of Trust, including the reasonable fees of any attorney employed by Lender in any litigation or proceeding affecting this Deed of Trust, the Note or the Property, including probate, bankruptcy proceedings, proceedings to obtain a receiver, or in preparation for the commencement or defense of any proceeding or threatened suit or proceeding, shall be immediately due and payable by Borrower, with interest thereon at the Default Rate, as more particularly defined in the Note and shall be secured by this Deed of Trust.
(dc) The proceeds of any sale under this Section section shall be applied first to the fees and expenses of the officer conducting the sale, and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee may elect in its sole discretionObligations; any surplus remaining shall be paid over to Grantor Borrower or to such other person or persons as may be lawfully entitled to such surplus.
(d) At the conclusion of any foreclosure sale, the officer conducting the sale shall execute and deliver to the purchaser at the sale a certificate of purchase which shall describe the property sold to such purchaser and shall state that upon the expiration of the applicable periods for redemption, the holder of such certificate will be entitled to a deed to the property described in the certificate. After the expiration of all applicable periods of redemption, unless the property sold has been redeemed by Borrower, the officer who conducted such sale shall, upon request, execute and deliver an appropriate deed to the holder of the certificate of purchase or the last certificate of redemption, as the case may be.
(e) Nothing in this Section section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee Lender or by Trustee or any officer conducting the foreclosure sale shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia Colorado law, and any such inconsistency shall be resolved in favor of Georgia Colorado law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
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Foreclosure Against Property. (a) GranteeBeneficiary may foreclose this Deed of Trust, at insofar as it encumbers the Property, either by judicial action or through Trustee. Foreclosure through Trustee will be initiated by Beneficiary's filing of its optionnotice of election and demand for sale with Trustee. Upon the filing of such notice of election and demand for sale, may sell the Property or any part Trustee shall promptly comply with all notice and other requirements of the Property at laws of Colorado then in force with respect to such sales, and shall give four weeks' public sale or sales before the door notice of the courthouse time and place of such sale by advertisement weekly in some newspaper of general circulation then published in the county County or City and County in which the Property or any part is located. Any sale conducted by Trustee pursuant to this section shall be held at the front door of the Property is situatedcounty courthouse for such County or City and County, or on the Property, or at such other place as similar sales are then customarily held in such County or City and County, provided that the actual place of sale shall be specified in the notice of sale. Beneficiary may bid at any such sale, and (except insofar as Trustee's fees and other expenses of sale are required by law to the highest bidder for be paid in cash, ) may pay any such bid in order to pay whole or in part by credit against the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings rather than in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said countycash. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligations.
(b) Grantee may bring an action in any court of competent jurisdiction to foreclose this Deed to Secure Debt. Upon any foreclosure sale, Grantee may bid for and purchase the Property and shall be entitled to apply all or any part of the Secured Obligations as credit to the purchase price.
(c) All fees, costs and expenses of any kind incurred by Grantee in connection with foreclosure of this Deed to Secure Debt, including, without limitation, the costs of any appraisals of the Property obtained by Grantee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by Grantee, and all attorneys’ and consultants’ fees and expenses incurred by Grantee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor to Grantee at any foreclosure sale.
(d) The proceeds of any sale under this Section section shall be applied first to the fees and expenses of the officer conducting the sale, and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee Beneficiary may elect in its sole discretionelect; any surplus remaining shall be paid over to Grantor or to such other person Person or persons Persons as may be lawfully entitled to such surplus.
(e) . At the conclusion of any foreclosure sale, the officer conducting the sale shall execute and deliver to the purchaser at the sale a certificate of purchase, which shall describe the property sold to such purchaser and shall state that upon the expiration of the applicable periods for redemption, the holder of such certificate will be entitled to a deed to the property described in the certificate. After the expiration of all applicable periods of redemption, unless the property sold has been redeemed by Grantor, the officer who conducted such sale shall, upon request, execute and deliver an appropriate deed to the holder of the certificate of purchase or the last certificate of redemption, as the case may be. Nothing in this Section section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee Beneficiary or by Trustee or any similar officer shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia Colorado law, and any such inconsistency shall be resolved in favor of Georgia Colorado law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
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Samples: Indenture (Ultimate Electronics Inc)
Foreclosure Against Property. (a) Grantee, at its option, may sell the Property or any part of the Property at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligations.
(b) Grantee Mortgagee may bring an action in any court of competent jurisdiction to foreclose this Deed Mortgage. Mortgagor confers upon the Mortgagee the authority and power to Secure Debt. Upon any foreclosure saleproceed to protect and enforce its rights by a suit or suits in equity or at law, Grantee may bid for and purchase the Property and shall be entitled to apply all or any part in aid of the Secured Obligations as credit execution of any power granted herein or in any other Loan Document, or for the foreclosure of this Mortgage, or for the enforcement of any other appropriate legal or equitable remedy, and in addition authorizes the Mortgagee to sell the Mortgaged Property at public auction and convey the same to the purchase pricepurchaser in fee simple, as provided by law, the Mortgagor to remain liable for any deficiency. Said sale may be as one tract or otherwise, at the sole option of the Mortgagee. The Mortgagor agrees that, for the purpose of Section 580.08, Minnesota Statutes, the Mortgaged Property is a single tract.
(cb) All fees, costs and expenses of any kind incurred by Grantee Mortgagee in connection with foreclosure of this Deed to Secure DebtMortgage, including, without limitation, the costs of any appraisals of the Property obtained by GranteeMortgagee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by GranteeMortgagee, and all attorneys’ and consultants’ fees and expenses incurred by GranteeMortgagee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor Mortgagor to Grantee Mortgagee at any foreclosure sale.
(dc) The proceeds of any sale under this Section shall be applied first to the fees payment of costs and expenses of foreclosure and of such sale and of all proper expenses (including maximum attorneys’ fees permitted by law), and of all taxes, assessments or liens superior to the officer conducting the sale, lien of these presents; and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee Mortgagee may elect in its sole discretion; any surplus remaining shall be paid over to Grantor Mortgagor or to such other person or persons as may be lawfully entitled to such surplus.
(ed) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee Mortgagee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia Minnesota law, and any such inconsistency shall be resolved in favor of Georgia Minnesota law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
Appears in 1 contract
Foreclosure Against Property. (a) Grantee, at its option, may sell the Property or any part of the Property at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligations.
(b) Grantee Mortgagee may bring an action in any court of competent jurisdiction to foreclose this Deed Mortgage or foreclose this Mortgage in any other manner permitted by applicable law. Mortgagor agrees that, in case Mortgagee in the exercise of the Power of Sale herein given elects to Secure Debtsell in parcels, such sales may be held from time to time and the Power of Sale shall not be exhausted until all of the Property shall have been sold; and that Mortgagee shall have the additional right and power to sell the whole of the Property notwithstanding that the proceeds of such sales exceed or may exceed the sum of money then secured hereby. Upon In the event of any separate sale of the Collateral, Mortgagor shall be entitled to reasonable notice of the time and place of any public sale or of the time after which any private sale or other intended disposition thereof is to be made, and such requirement of reasonable notice shall be met if such notice is mailed postage prepaid, to the address of Mortgagor as set forth in this Mortgage at least five (5) days before the time of such sale or other disposition. At any foreclosure sale, Grantee may bid for and purchase the Property and shall be entitled to apply or any combination or all of any other security for the Secured Obligations or any part thereof may be offered for sale for one total price, and the proceeds of such sale may be accounted for in one account without distinction between the Secured Obligations as credit items of security and without assigning to them any proportion of such proceeds, Mortgagor hereby waiving the purchase priceapplication of any doctrine of marshalling of assets.
(cb) All third-party fees, costs and expenses of any kind incurred by Grantee Mortgagee in connection with foreclosure of this Deed to Secure DebtMortgage, including, without limitation, the costs of any appraisals of the Property obtained by GranteeMortgagee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by GranteeMortgagee, and all attorneys’ ' and consultants’ ' fees and expenses incurred by GranteeMortgagee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor Mortgagor to Grantee Mortgagee at any foreclosure sale.
(dc) The proceeds of any sale under this Section shall be applied first to the fees and expenses of the officer conducting the sale, and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee Mortgagee may elect in its sole discretion; any surplus remaining shall be paid over to Grantor Mortgagor or to such other person or persons as may be lawfully entitled to such surplus.
(ed) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee Mortgagee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia Massachusetts law, and any such inconsistency shall be resolved in favor of Georgia Massachusetts law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
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Foreclosure Against Property. (a) Grantee, at its option, may sell the Property or any part of the Property at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligations.
(b) Grantee Mortgagee may bring an action in any court of competent jurisdiction to foreclose this Deed to Secure DebtMortgage. Upon any foreclosure sale, Grantee Mortgagee may bid for and purchase the Property and shall be entitled to apply all or any portion of the Property at any foreclosure sale thereof.
(b) If any installment or part of the Secured Obligations as credit under the Loan Documents shall fail to be paid when due, Mortgagee shall be entitled to xxx for and to recover judgment against Mortgagor for the purchase priceamounts so due and unpaid together with all costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) incurred by Mortgagee in connection with such proceedings, together with interest thereon at the Default Rate from the date incurred by Mortgagee. All such costs and expenses shall be secured by this Mortgage and shall be due and payable by Mortgagor immediately.
(c) If Mortgagor shall fail to pay upon Mortgagee's demand, after acceleration as provided for in Section 7.3, all of the unpaid Secured Obligations including all accrued interest represented thereby, Mortgagee shall be entitled to xxx for and to recover judgment against Mortgagor for the entire amount so due and unpaid together with all costs and expenses (including without limitation, reasonable attorneys' fees and expenses) incurred by Mortgagee in connection with such proceeding, together with interest thereon at the Default Rate from the date incurred by Mortgagee. All such costs and expenses shall be secured by this Mortgage and shall be payable by Mortgagor immediately. Mortgagee's rights under this subsection (c) may be exercised by Mortgagee either before, after or during the pendency of any proceeding for the enforcement of this Mortgage, including appellate proceedings.
(d) No recovery of any judgment as provided in subsections (b) and (c) above and no attachment or levy or any execution on any of the Property or any other property shall in any way affect the lien of this Mortgage upon the Property or any part thereof, or any lien, rights, powers, or remedies of Mortgagee hereunder, but such lien, rights, powers and remedies shall continue unimpaired as before.
(e) Mortgagee may institute proceedings for the partial or complete foreclosure of this Mortgage and Mortgagee may, pursuant to any final judgment of foreclosure, sell the Property as an entirety or in separate lots, units or parcels. Mortgagee is authorized to foreclose this Mortgage subject to the rights of any tenant of the Property, or Mortgagee may elect which tenants Mortgagee desires to name as parties defendant in such foreclosure and failure to make any such tenants parties defendants to any such foreclosure proceedings and to foreclose their rights will not be, nor be asserted by Mortgagor to be, a defense to any proceeding instituted by Mortgagee to collect the Secured Obligations.
(f) All fees, costs and expenses of any kind incurred by Grantee Mortgagee in connection with foreclosure of this Deed to Secure DebtMortgage, including, without limitation, the costs of any appraisals of the Property obtained by GranteeMortgagee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by GranteeMortgagee, and all attorneys’ ' and consultants’ ' fees and expenses incurred by GranteeMortgagee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor Mortgagor to Grantee Mortgagee at any foreclosure sale.
(dg) The proceeds of any sale under this Section shall be applied first to the fees and expenses of the officer conducting the sale, and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee Mortgagee may elect in its sole discretion; any surplus remaining shall be paid over to Grantor Mortgagor or to such other person or persons as may be lawfully entitled to such surplus.
(eh) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee Mortgagee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia Florida law, and any such inconsistency shall be resolved in favor of Georgia Florida law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
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Foreclosure Against Property. (a) GranteeMortgagee may:
(i) institute proceedings for the complete foreclosure of this Mortgage, at its optionin which case the Property may be sold for cash or credit in one or more parcels, may and in such order as Mortgagee shall determine;
(ii) with or without entry and, to the extent permitted, and pursuant to the procedures provided by, applicable law, institute proceedings for the partial foreclosure of this Mortgage for the portion of the Secured Obligations then due and payable, subject to the lien of this Mortgage continuing unimpaired and without loss of priority so as to secure the balance of the Secured Obligations not then due; and
(iii) sell the Property or any part of the Property at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, thereof and all expenses of the sale and of all proceedings in connection therewithestate, including reasonable attorneys’ feesclaim, after advertising the timedemand, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interestinterest of Mortgagor therein, equity pursuant to power of redemptionsale or otherwise, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, at one or Grantor’s successors in interestmore sales, in whole or in parcels, at such time and to place, upon such terms and after such notice thereof as may be required or permitted by law, and in the event of a sale, by foreclosure or otherwise, of less than all of the Property, this Mortgage shall continue as a lien on the remaining portion of the Property. In case Any real estate sold pursuant to any writ of any sale under this Deed to Secure Debt execution issued on a judgment obtained by virtue of the exercise of the power herein grantedNote or this Mortgage, but pursuant to any order may be sold in one parcel, as an entirety, or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairsin such parcels, and any and all other charges incurred in the operation such manner or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligationsorder as Mortgagee, in its sole discretion may elect.
(b) Grantee may bring an action in any court of competent jurisdiction to foreclose this Deed to Secure Debt. Upon any foreclosure sale, Grantee may bid for and purchase the Property and shall be entitled to apply all or any part of the Secured Obligations as credit to the purchase price.
(c) All fees, costs and expenses of any kind incurred by Grantee Mortgagee in connection with foreclosure of this Deed to Secure DebtMortgage, including, without limitation, the costs of any appraisals of the Property obtained by GranteeMortgagee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by GranteeMortgagee, and all attorneys’ and consultants’ fees and expenses incurred by GranteeMortgagee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor Mortgagor to Grantee Mortgagee at any foreclosure sale.
(dc) The proceeds of any sale under this Section shall be applied first to the fees and expenses of the officer conducting the sale, and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee may elect in its sole discretion; any surplus remaining shall be paid over to Grantor or to such other person or persons as may be lawfully entitled to such surplus.
(e) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia law, and any such inconsistency shall be resolved in favor of Georgia law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.applied:
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Foreclosure Against Property. (a) Grantee, at its option, may sell the Property or any part of the Property at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligations.
(b) Grantee Lender may bring an action in any court of competent jurisdiction to foreclose this Deed to Secure Debt. Upon any foreclosure saleMortgage, Grantee may bid or take such other action at law or in equity for the enforcement of this Mortgage and purchase realization on the Property and shall be entitled to apply all Property, Chattels, Intangible Personalty, or any part other security herein or elsewhere provided for, as the law may allow, and proceed therein to final judgment and execution for the entire unpaid balance of the Secured Obligations as credit Obligations, including the principal debt, interest at the rate specified in the Note, all other sums due by Borrower in accordance with the provisions of the Note, all other sums due by Borrower in accordance with the provisions of this Mortgage and the other Loan Documents, including all sums which may have been loaned by Lender to Borrower after the date of this Mortgage, and all sums which may have been paid, incurred or advanced by or on behalf of Lender for taxes, water or sewer rents, charges or claims, payments on prior liens, insurance or repairs to the purchase priceProperty, appraiser’s fees, outlays for documentary and expert evidence, stenographer’s charges, publication costs, and costs (which may be estimated as to items to be expended after entry of judgment) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to title as Lender may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any Sale which may be had pursuant to such judgment the true condition of the title to or the value of the Property, all costs of suit, together with interest at the Default Rate on any judgment obtained by Lender from and after the date of any sheriff’s sale until actual payment is made by the sheriff of the full amount due Lender, and a reasonable attorney’s commission for collection. Any real estate sold pursuant to any writ of execution issued on a judgment obtained by virtue of the Note or this Mortgage, may be sold in one parcel, as an entirety, or in such parcels, and in such manner or order as Lender, in its sole discretion may elect.
(cb) All fees, costs and expenses of any kind incurred by Grantee Lender in connection with foreclosure of this Deed to Secure DebtMortgage, including, without limitation, the costs of any appraisals of the Property obtained by GranteeLender, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by GranteeLender, and all attorneys’ and consultants’ fees and expenses incurred by GranteeLender, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor Borrower to Grantee Lender at any foreclosure saleSale.
(dc) The proceeds of any sale under this Section Sale shall be applied first to the fees and expenses of the officer conducting the saleSale, and then to the reduction or discharge of the non-recourse obligations set forth in the Note in such order and manner as Lender may elect in its sole discretion; then to the reduction or discharge of the remaining recourse Secured Obligations in such order and manner as Grantee Lender may elect in its sole discretion; any surplus remaining shall be paid over to Grantor or to such other person or persons as may be lawfully entitled to such surplus.
(ed) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee Lender shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia Pennsylvania law, and any such inconsistency shall be resolved in favor of Georgia Pennsylvania law applicable at the time of foreclosure.
(fe) In To the event extent permitted by law, the liability of any such foreclosure sale by Grantee, Grantor Borrower and/or Surety for the obligations described in Section 18 of the Note (referred to herein as the “recourse” obligations) shall not be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entryreduced, or otherwiseotherwise affected, or in the event Grantee commences advertising by any payments made on account of the intended exercise non-recourse portion of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor or reduced by any credit to such non-recourse obligations mandated or precipitated by operation of law, including, without limitation, the Pennsylvania Deficiency Judgment Act, 42 Pa.C.S.A. §8103, or any judicial or other instrument relating thereto shall be or shall be deemed to interpretation thereof, so long as any non-recourse obligations remain outstanding and unpaid, and only after all of the non-recourse obligations have been reinstated fully paid or otherwise affected credited by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule operation of law now provided, will the liability of Borrower and/or Surety for the recourse obligations be reduced when and as paid or which may hereafter be provided, which would produce a result contrary to or in conflict with the abovecredited.
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Foreclosure Against Property. Upon the occurrence of any event of default, Beneficiary shall have the right to have Trustee sell the Property in accordance with the Oregon Revised Statutes 86.705 et seq. at public auction to the highest bidder. Any person except Trustee may bid at the Trustee's sale. The power of sale is conferred by this Deed of Trust and the law shall not be an exclusive remedy. When such power of sale is not exercised, Beneficiary may foreclose this Deed of Trust as a mortgage. Trustee is not obligated to notify any party hereto of a pending sale under any other deed of trust or of any action or proceeding in which Grantor, Trustee, or Beneficiary shall be a party, unless such action or proceeding is brought by Trustee. Should Beneficiary elect to foreclose by exercise of the power of sale herein contained, Beneficiary shall notify Trustee and shall deposit with Trustee this Deed of Trust and the Notes and such receipts and evidence of expenditures made and secured hereby as Trustee may require.
(a) GranteeUpon receipt of such notice from Beneficiary, at its optionTrustee shall cause to be given such Notice of Default as then required by law. Trustee shall, without demand on Grantor, after lapse of such time as may then be required by law and after Notice of Sale and Notice of Foreclosure having been given as required by law, sell the Property at the time and place of sale fixed by it in such Notice of Sale and Notice of Foreclosure, either as a whole, or any part of the Property in separate lots or parcels or items as Trustee shall deem expedient, and in such order as it may determine, at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, auction to the highest bidder for cash, cash in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses lawful money of the sale and United States payable at the time of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said countysale. At any such public sale, Grantee may execute and Trustee shall deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale thereof its good and sufficient deed or salesdeeds conveying the property so sold, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and but without any recitals in said conveyance covenant or conveyances as to facts essential to a valid sale shall be binding upon Grantorwarranty, express or implied. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds deed of any matters or facts shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue proof of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligationstruthfulness thereof.
(b) Grantee may bring an action in any court of competent jurisdiction to foreclose this Deed to Secure Debt. Upon any foreclosure saleAfter deducting all costs, Grantee may bid for and purchase the Property and shall be entitled to apply all or any part of the Secured Obligations as credit to the purchase price.
(c) All fees, costs and expenses of any kind incurred by Grantee in connection with foreclosure of this Deed to Secure Debt, including, without limitation, the costs of any appraisals of the Property obtained by Grantee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by Grantee, and all attorneys’ and consultants’ fees and expenses incurred by Grantee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor to Grantee at any foreclosure sale.
(d) The proceeds of any sale under this Section shall be applied first to the fees and expenses of the officer conducting the Trustee and of this Trust, including costs of evidence of title and reasonable counsel fees in connection with sale, Trustee shall apply the proceeds of sale to payment of all sums expended under the terms hereof, not then repaid, with accrued interest, all other sums then secured hereby and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee may elect in its sole discretion; any surplus remaining remainder, if any, shall be paid over to Grantor or to such other person or persons as may be lawfully entitled to such surplus.
(e) Nothing into court in this Section dealing with foreclosure procedures or specifying particular actions to be taken the manner provided by Grantee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia law, and any such inconsistency shall be resolved in favor of Georgia law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
Appears in 1 contract
Samples: Deed of Trust and Security Agreement (Electronic Fab Technology Corp)
Foreclosure Against Property. (a) Grantee, at its option, may sell the Property or any part of the Property at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligations.
(b) Grantee Mortgagee may bring an action in any court of competent jurisdiction to foreclose this Deed to Secure DebtMortgage. Upon any foreclosure sale, Grantee Mortgagee may bid for and purchase the Property and shall be entitled to apply all or any portion of the Property at any foreclosure sale thereof.
(b) If any installment or part of the Secured Obligations as credit under the Note or Loan Documents shall fail to be paid when due, Mortgagee shall be entitled to sue for and to recover judgment against Mortgagor for the purchase priceamounts so due and unpaid together with all costs and expenses (including, without limitation, reasonable attorneys' fees and expenses) incurred by Mortgagee in connection with such proceedings, together with interest thereon at the Default Rate from the date incurred by Mortgagee. All such costs and expenses shall be secured by this Mortgage and shall be due and payable by Xxxxxxxxx immediately.
(c) If Mortgagor shall fail to pay upon Mortgagee's demand, after acceleration as provided for in Section 7.3, all of the unpaid Secured Obligations including all accrued interest represented thereby, Mortgagee shall be entitled to sue for and to recover judgment against Mortgagor for the entire amount so due and unpaid together with all costs and expenses (including without limitation, reasonable attorneys' fees and expenses) incurred by Mortgagee in connection with such proceeding, together with interest thereon at the Default Rate from the date incurred by Mortgagee. All such costs and expenses shall be secured by this Mortgage and shall be payable by Xxxxxxxxx immediately. Mortgagee's rights under this subsection (c) may be exercised by Mortgagee either before, after or during the pendency of any proceeding for the enforcement of this Mortgage, including appellate proceedings.
(d) No recovery of any judgment as provided in subsections (b) and (c) above and no attachment or levy or any execution on any of the Property or any other property shall in any way affect the lien of this Mortgage upon the Property or any part thereof, or any lien, rights, powers, or remedies of Mortgagee hereunder, but such lien, rights, powers and remedies shall continue unimpaired as before.
(e) Mortgagee may institute proceedings for the partial or complete foreclosure of this Mortgage and Mortgagee may, pursuant to any final judgment of foreclosure, sell the Property as an entirety or in separate lots, units or parcels. Mortgagee is authorized to foreclose this Mortgage subject to the rights of any tenant of the Property, or Mortgagee may elect which tenants Mortgagee desires to name as parties defendant in such foreclosure and failure to make any such tenants parties defendants to any such foreclosure proceedings and to foreclose their rights will not be, nor be asserted by Mortgagor to be, a defense to any proceeding instituted by Mortgagee to collect the Secured Obligations.
(f) All fees, costs and expenses of any kind incurred by Grantee Mortgagee in connection with foreclosure of this Deed to Secure DebtMortgage, including, without limitation, the costs of any appraisals of the Property obtained by GranteeMortgagee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by GranteeMortgagee, and all attorneys’ ' and consultants’ ' fees and expenses incurred by GranteeMortgagee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor Mortgagor to Grantee Mortgagee at any foreclosure sale.
(dg) The proceeds of any sale under this Section shall be applied first to the fees and expenses of the officer conducting the sale, and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee Mortgagee may elect in its sole discretion; any surplus remaining shall be paid over to Grantor Mortgagor or to such other person or persons as may be lawfully entitled to such surplus.
(eh) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee Mortgagee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia Florida law, and any such inconsistency shall be resolved in favor of Georgia Florida law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
Appears in 1 contract
Foreclosure Against Property. (a) Grantee, at its option, may sell the Property or any part of the Property at public sale or sales before the door of the courthouse of the county in which the Property or any part of the Property is situated, to the highest bidder for cash, in order to pay the Secured Obligations and accrued interest thereon and insurance premiums, liens, assessments, taxes and charges, including utility charges, if any, which have been paid by Grantee, with accrued interest thereon, and all expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, after advertising the time, place and terms of sale once a week for four consecutive weeks immediately preceding such sale (but without regard to the number of days) in a newspaper in which sheriff’s sales are advertised in said county. At any such public sale, Grantee may execute and deliver to the purchaser a conveyance of the Property or any part of the Property in fee simple with full warranties of title and to this end, Grantor hereby constitutes and appoints Grantee the agent and attorney–in–fact of Grantor to make such sale and conveyance, and thereby to divest Grantor of all right, title or equity that Grantor may have in and to the Property and to vest the same in the purchaser or purchasers at such sale or sales, and all the acts and doings of said agent and attorney–in–fact are hereby ratified and confirmed and any recitals in said conveyance or conveyances as to facts essential to a valid sale shall be binding upon Grantor. The aforesaid power of sale and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise, are granted as cumulative of the other remedies provided hereby or by law for collection of the indebtedness secured hereby and shall not be exhausted by one exercise thereof, but may be exercised until full payment of all Secured Obligations. Any recitals in such deeds shall be presumptive evidence that all preliminary acts prerequisite to such sale and deed were in all things duly complied with and Grantor agrees that all recitals in any such deed shall be binding and conclusive on Grantor and that the conveyance to be made by Grantee shall be effectual to bar all right, title and interest, equity of redemption, including all statutory redemption, homestead, dower, curtesy and all other exemptions of Grantor, or Grantor’s successors in interest, in and to the Property. In case of any sale under this Deed to Secure Debt by virtue of the exercise of the power herein granted, but pursuant to any order or to any judicial proceeding or otherwise, Grantor shall be responsible for and shall upon demand pay any and all charges for utility services, sanitary and garbage services, advertising, maintenance and repairs, and any and all other charges incurred in the operation or maintenance of the Property prior to the date of such sale. Such amounts shall bear interest at the Default Rate and shall constitute a portion of the Secured Obligations.
(b) Grantee Mortgagee may bring an action in any court of competent jurisdiction to foreclose this Deed Mortgage. Xxxxxxxxx agrees that, in case Mortgagee in the exercise of the Power of Sale herein given elects to Secure Debtsell in parcels, such sales may be held from time to time and the Power of Sale shall not be exhausted until all of the Property shall have been sold; and that Mortgagee shall have the additional right and power to sell the whole of the Property notwithstanding that the proceeds of such sales exceed or may exceed the sum of money then secured hereby. Upon In the event of any separate sale of the Collateral, Mortgagor shall be entitled to reasonable notice of the time and place of any public sale or of the time after which any private sale or other intended disposition thereof is to be made, and such requirement of reasonable notice shall be met if such notice is mailed postage prepaid, to the address of Mortgagor as set forth in this Mortgage at least five (5) days before the time of such sale or other disposition. At any foreclosure sale, Grantee may bid for and purchase the Property and shall be entitled to apply or any combination or all of any other security for the Secured Obligations or any part thereof may be offered for sale for one total price, and the proceeds of such sale may be accounted for in one account without distinction between the Secured Obligations as credit items of security and without assigning to them any proportion of such proceeds, Mortgagor hereby waiving the purchase priceapplication of any doctrine of marshalling of assets.
(cb) All fees, costs and expenses of any kind incurred by Grantee Mortgagee in connection with foreclosure of this Deed to Secure DebtMortgage, including, without limitation, the costs of any appraisals of the Property obtained by GranteeMortgagee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by GranteeMortgagee, and all attorneys’ ' and consultants’ ' fees and expenses incurred by GranteeMortgagee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Grantor Mortgagor to Grantee Mortgagee at any foreclosure sale.
(dc) The proceeds of any sale under this Section shall be applied first to the fees and expenses of the officer conducting the sale, and then to the reduction or discharge of the Secured Obligations in such order and manner as Grantee Mortgagee may elect in its sole discretion; any surplus remaining shall be paid over to Grantor Mortgagor or to such other person or persons as may be lawfully entitled to such surplus.
(ed) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Grantee Mortgagee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Georgia Massachusetts law, and any such inconsistency shall be resolved in favor of Georgia Massachusetts law applicable at the time of foreclosure.
(f) In the event of any such foreclosure sale by Grantee, Grantor shall be deemed a tenant holding over and shall forthwith deliver possession to the purchaser or purchasers at such sale or be summarily dispossessed according to applicable law.
(g) In case Grantee shall have proceeded to enforce any right, power or remedy under this Deed to Secure Debt by foreclosure, entry, or otherwise, or in the event Grantee commences advertising of the intended exercise of the sale under power provided for hereunder, and such proceedings or advertisements shall have been withdrawn, discontinued or abandoned for any reason, or shall have been determined adversely to Grantee, then and in every such case (i) Grantor and Grantee shall be restored to their former positions and rights hereunder; (ii) all rights, powers, and remedies of Grantee shall continue as if no such proceeding had been taken; (iii) unless Grantee otherwise expressly agrees in writing, each and every Default or Event of Default declared or occurring prior or subsequent to such withdrawal, discontinuance of abandonment shall be and shall be deemed to be a continuing Default or Event of Default, as the case may be; and (iv) unless Grantee otherwise expressly agrees in writing, neither this Deed to Secure Debt, nor the Note, nor the Secured Obligations nor any other instrument relating thereto shall be or shall be deemed to have been reinstated or otherwise affected by such withdrawal, discontinuance or abandonment; and Grantor hereby expressly waives the benefit of any statute or rule of law now provided, or which may hereafter be provided, which would produce a result contrary to or in conflict with the above.
Appears in 1 contract
