Common use of Foreclosure Against Property Clause in Contracts

Foreclosure Against Property. (a) Mortgagee may bring an action in any court of competent jurisdiction to foreclose this Mortgage. (b) All fees, costs and expenses of any kind incurred by Mortgagee in connection with foreclosure of this Mortgage, including, without limitation, the costs of any appraisals of the Property obtained by Mortgagee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by Mortgagee, and all attorneys’ and consultants’ fees and expenses incurred by Mortgagee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Mortgagor to Mortgagee at any foreclosure sale. (c) 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 Mortgagee may elect in its sole discretion; any surplus remaining shall be paid over to Mortgagor or to such other person or persons as may be lawfully entitled to such surplus. (d) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Mortgagee shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by the laws of the State, and any such inconsistency shall be resolved in favor of the State’s law applicable at the time of foreclosure.

Foreclosure Against Property. (a) Mortgagee may, with or without entry, institute proceedings, judicial or otherwise, for the complete foreclosure of this Security Instrument under any applicable provision of applicable law, in which case the Property or any interest therein may bring an action be sold for cash or upon credit in one or more parcels or in several interests or portions and in any court order or manner, any partial foreclosure to be subject to the continuing lien and security interest of competent jurisdiction to foreclose this MortgageSecurity Instrument for the balance of the Secured Obligations not then due, unimpaired and without loss of priority. (b) Mortgagee may sell for cash or upon credit the Property or any part thereof and all estate, claim, demand, right, title and interest of Mortgagor therein and rights of redemption thereof, pursuant to power of sale, judicial decree or otherwise, at one or more sales, as an entity or in parcels, at such time and place, upon such terms and after such notice thereof as may be required or permitted by law. Under the power of sale hereby granted, Mortgagee shall have the discretionary right to cause some or all of the Property, including any Collateral, to be sold or otherwise disposed of in any combination and in any manner permitted by applicable law. (c) All fees, costs and expenses of any kind incurred by Mortgagee in connection with foreclosure of this MortgageSecurity Instrument, including, without limitation, the costs of any appraisals of the Property obtained by Mortgagee, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by Mortgagee, and all attorneys’ and consultants’ fees and expenses incurred by Mortgagee, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Mortgagor to Mortgagee at any foreclosure sale. (cd) 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 Mortgagee may elect in its sole discretion; any surplus remaining shall be paid over to Mortgagor or to such other person or persons as may be lawfully entitled to such surplus. (de) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Mortgagee shall be deemed to contradict or add to A sale of less than the requirements and procedures now or hereafter specified by the laws whole of the StateProperty or any defective or irregular sale made hereunder shall not exhaust the power of sale provided for herein; and subsequent sales may be made hereunder until all obligations secured hereby have been satisfied, and any such inconsistency shall be resolved in favor of or the State’s law applicable at the time of foreclosureentire Property sold, without defect or irregularity.

Foreclosure Against Property. (a) Mortgagee Upon the occurrence and during the continuance of an Event of Default, Beneficiary may bring an action in any court of competent jurisdiction to foreclose this Mortgage. (b) Security Instrument, either by judicial action or through Trustee. If this Security Instrument encumbers more than one parcel of real estate, foreclosure may be by separate parcel or en masse, as Beneficiary may elect in its sole discretion. Foreclosure through Trustee will be initiated by Beneficiary’s filing of its notice of election and demand for sale of the Secured Property with Trustee. Upon the filing of such notice of election and demand for sale, Trustee shall promptly comply with all notice and other requirements of the laws of Idaho then in force with respect to such sales, and shall have the required public notice of the time and place of such sale by advertisement weekly in some newspaper of general circulation then published in the County or City and County in which the Secured Property is located. Any sale conducted by Trustee pursuant to this Section shall be held at the front door of the county courthouse for such County or City and County, or on the Secured 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. All reasonable and documented out-of-pocket fees, costs and expenses of any kind incurred by Mortgagee Beneficiary in connection with foreclosure of this MortgageSecurity Instrument, including, without limitation, the costs of any appraisals of the Secured Property obtained by Mortgagee, the cost of any title reports or abstractsBeneficiary, all costs of any receivership for the Secured Property advanced by MortgageeBeneficiary, all costs of any environmental audits or tests incurred by Beneficiary and all attorneys’ and consultants’ fees and expenses incurred by MortgageeBeneficiary, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Mortgagor Grantor to Mortgagee Beneficiary at any foreclosure sale. (c) sale to the extent permitted by law. The proceeds of any sale under this Section shall be applied first to the reasonable and documented fees and expenses of the Trustee or other officer conducting the salesale (all of which shall be part of the obligations secured by this Security Instrument), and then to the reduction or discharge of the Secured Obligations in such order and the manner of application as Mortgagee may elect provided in its sole discretionthe Credit Agreement; any surplus remaining shall be paid over to Mortgagor or to such other person or persons as may be lawfully entitled to such surplus. (d) . Beneficiary may bid at any such foreclosure sale. It shall not be obligatory upon the purchaser at any such sale to see to the application of the purchase money. 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 Secured 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 Secured Property described in the certificate. After the expiration of all applicable periods of redemption, 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 or elsewhere in this Security Instrument dealing with foreclosure procedures or specifying particular actions to be taken by Mortgagee 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 the laws of the StateIdaho law, and any such inconsistency shall be resolved in favor of the State’s Idaho law applicable at the time of foreclosure. (b) In addition to all other remedies described or referenced in this Security Instrument, Beneficiary may have all or any part of the Collateral combined with the Secured Property covered hereby and sold together with such Secured Property as an entirety at any foreclosure sale, or Beneficiary, at its option, may proceed solely or separately against the Collateral or any part thereof and have the same sold separately as provided by the UCC, either in one parcel or in such parcels, manner or order as Beneficiary may elect; Beneficiary may take immediate and exclusive possession of the Collateral or any part thereof and for that purpose may, with or without judicial process, enter upon any premises on which the Collateral or any part thereof may be situated and remove the same therefrom; Beneficiary may hold, maintain, preserve and prepare the Collateral for sale until disposed of, or may propose to retain the Collateral subject to Grantor’s right of redemption in partial or total satisfaction of Grantor’s obligations as provided in the UCC; Beneficiary is entitled, without removal, to render the Collateral unusable and dispose of the Collateral on the Grantor’s premises; Beneficiary may require Grantor to assemble the Collateral and make it available to Beneficiary for its possession at a place to be designated by Beneficiary which is reasonably convenient to both parties; unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Beneficiary shall give the Grantor at least ten (10) days’ notice of the time and place of any public sale of any Collateral or of the time after which any private sale or other intended dispositions thereof is to be made, by United States registered or certified mail, postage prepaid, addressed to Grantor at the address provided in this Security Instrument, which provisions for notice Grantor and Beneficiary agree are reasonable; Beneficiary may buy all or part of the Collateral at any public sale, and if the Collateral is of a type which is subject to widely distributed standard price quotations, Beneficiary may buy at private sale; and further, Beneficiary shall have all of the rights and remedies of a secured party under the UCC. Beneficiary shall be entitled to exercise any and all other rights and remedies available by applicable laws and judicial decisions.

Foreclosure Against Property. (a) Mortgagee Lender may bring an action in any court of competent jurisdiction to foreclose this Mortgage.. Lender may sell the Property or any part thereof or interest therein pursuant to exercise of its STATUTORY POWER OF SALE or otherwise at public auction on terms and conditions as Lender may reasonably determine, or otherwise foreclose this Mortgage in any manner permitted by law, and upon such sale Borrower shall execute and deliver such instruments as Lender may request in order to convey and transfer all of the Borrower's interest in the Property, and the same shall operate to divest all rights, title and interest of Borrower in and to the Property. In addition, Lender may in its discretion subordinate this Mortgage to one or more Secondary Leases for the sole purpose of preserving any such Secondary Lease in the event of a foreclosure; (b) All fees, costs and expenses of any kind incurred by Mortgagee Lender in connection with foreclosure of this Mortgage, including, without limitation, the costs of any appraisals of the Property obtained by MortgageeLender, the cost of any title reports or abstracts, all costs of any receivership for the Property advanced by MortgageeLender, and all attorneys’ and consultants’ fees and expenses incurred by MortgageeLender, shall constitute a part of the Secured Obligations and may be included as part of the amount owing from Mortgagor Borrower to Mortgagee Lender at any foreclosure sale. (c) 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 Mortgagee Lender may elect in its sole discretion; any surplus remaining shall be paid over to Mortgagor Borrower or to such other person or persons as may be lawfully entitled to such surplus. (d) Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Mortgagee Lender shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by the laws of the State, and any such inconsistency shall be resolved in favor of the State’s law applicable at the time of foreclosure. (e) This Mortgage is upon the STATUTORY CONDITION, for any breach of which Lender shall have the STATUTORY POWER OF SALE.