Common use of Foreclosure; Expense of Litigation Clause in Contracts

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Note, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 6 contracts

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Adcare Health Systems Inc), Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Adcare Health Systems Inc), Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Adcare Health Systems Inc)

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Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Note, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 4 contracts

Samples: Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Adcare Health Systems, Inc), Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Adcare Health Systems, Inc), Mortgage, Assignment of Rents, Security Agreement and Fixture Filing (Adcare Health Systems, Inc)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree Secured Obligations, all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys’ feesfees (including, appraisers’ expressly, costs of services of paralegals), appraiser’s fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after foreclosure sale or entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary advisable either to prosecute such suit or to evidence to bidders a bidder at any sale which may be had pursuant to such decree the true condition of the title to or the value of the PremisesProperty. All such expenditures and expenses of the nature mentioned in this Section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Transaction Documents or the PremisesProperty, including probate and bankruptcy proceedings, or in the preparations for the commencement or defense of any proceeding or threatened suit or proceeding proceeding, shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Funding Rate specified in the Facility Agreement, and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 3 contracts

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents, and Fixture Filing (Neutron Energy, Inc.), Mortgage, Security Agreement, Assignment of Leases and Rents, and Fixture Filing (Neutron Energy, Inc.), Mortgage, Security Agreement, Assignment of Leases and Rents, and Fixture Filing (Neutron Energy, Inc.)

Foreclosure; Expense of Litigation. (a) When After an Event of Default or when all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Beneficiary shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage Deed of Trust or any of the other Loan Documents in accordance with the applicable laws Section 51.002 of the State of ArkansasTexas Property Code (as may be amended from time to time, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings“Act”). In the event of a foreclosure sale, the Lender Beneficiary is hereby authorized, without the consent of the MortgagorTrustor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Beneficiary may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree Indebtedness secured hereby all expenditures and expenses which may be actually paid or incurred by or on behalf of Beneficiary in connection with the Lender for enforcement of this Deed of Trust or any of the other Loan Documents, including without limitation, trustee’s fees, reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Beneficiary may deem reasonably necessary either to prosecute such suit or other proceeding or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the MortgagorTrustor’s obligations hereunder, the protection of said Premises Xxxxxxxx and the maintenance of the interest created by lien of this MortgageDeed of Trust, including the actual and reasonable fees of any attorney employed by the Lender Beneficiary in any litigation or proceeding affecting this MortgageDeed of Trust, the NoteNotes, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the MortgagorTrustor, with interest thereon until paid at the Default Rate and shall be secured by this MortgageDeed of Trust. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 2 contracts

Samples: Commercial Deed of Trust (NNN Healthcare/Office REIT, Inc.), Commercial Deed of Trust (NNN Healthcare/Office REIT, Inc.)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Note, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises Xxxxxxxx and the maintenance of the interest created by this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 2 contracts

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Adcare Health Systems, Inc), Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Adcare Health Systems, Inc)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of Illinois Mortgage Foreclosure Act (Chapter 735, Sections 5/15-1101 et seq., Illinois Compiled Statutes) (as may be amended from time to time, the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings“Act”). In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 2 contracts

Samples: Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (GK Investment Property Holdings II LLC), Mortgage, Security Agreement, Assignment of Rents and Fixture Filing (GK Investment Property Holdings II LLC)

Foreclosure; Expense of Litigation. (a) When After an Event of Default or when all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsMortgage. In the event of a foreclosure sale, the Lender Mortgagee is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Mortgagee may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree and all expenditures and expenses which may be actually paid or incurred by or on behalf of Mortgagee in connection with the Lender for enforcement of this Mortgage or any of the other Loan Documents, including without limitation, reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the NoteNotes, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 2 contracts

Samples: Open End Revolving Mortgage (Grubb & Ellis Healthcare REIT, Inc.), Open End Fee and Leasehold Revolving Mortgage (Grubb & Ellis Healthcare REIT, Inc.)

Foreclosure; Expense of Litigation. (a) When all the indebtedness hereby secured, or any part of the Indebtedness thereof, shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof of this Mortgage for such Indebtedness indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding civil action to foreclose the lien of this Mortgage or enforce any other remedy of the Lender under this Mortgage or the NoteMortgage, there shall be allowed and included as additional indebtedness in the decree order or judgment for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys' fees, appraisers’ appraiser's fees, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decreeorder or judgment) of procuring all such abstracts of title, title searches and examinations, title insurance policies, Torrens certificates, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit civil actions or to evidence to bidders at any sale which may be had pursuant to such decree order or judgment the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Section, and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Note or the Premises, including probate probate, bankruptcy and bankruptcy appellate proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit civil actions or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the rate of interest applicable under the Note upon the occurrence of an Event of Default Rate under the Loan Agreement, and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 2 contracts

Samples: Mortgage (Cti Industries Corp), Mortgage (Cti Industries Corp)

Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Beneficiary shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Beneficiary for reasonable attorneys’ fees actually incurred, appraiser’s fees, appraisers’ feesactual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Beneficiary may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunderPremises, the protection of said Premises and the maintenance of the interest created by lien of this MortgageDeed of Trust, including the actual and reasonable fees actually incurred of any attorney attorneys employed by the Lender Beneficiary in any litigation or proceeding affecting this MortgageDeed of Trust, the Note, Note or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the MortgagorGrantor, with interest thereon until paid at the Default Rate of interest as set forth in the Note and shall be secured by this MortgageDeed of Trust. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Deed of Trust (Industrial Income Trust Inc.)

Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys' fees, appraisers’ appraiser's fees, actual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees [MORTGAGE, SECURITY AGREEMENT, FINANCING STATEMENT AND FIXTURE FILING] ING No. 27449 as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney attorneys employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Note or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate of interest as set forth in the Note and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Financing Statement and Fixture Filing (Equity Inns Inc)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingslaw. In the event of a foreclosure sale, the Lender Mortgagee is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Mortgagee may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the NoteNotes, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage (American Medical Systems Holdings Inc)

Foreclosure; Expense of Litigation. (a) When all the Guaranteed Obligations hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness Guaranteed Obligations or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Guaranteed Obligations in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys’ fees actually incurred, appraiser’s fees, appraisers’ feesactual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees actually incurred of any attorney attorneys employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Guaranty or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate of interest as set forth in the Affiliate Notes and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Financing Statement and Fixture Filing (Industrial Income Trust Inc.)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage Mortgage, any of the other Loan Documents, or any of the other Additional Loan Documents in accordance with the applicable laws of Illinois Mortgage Foreclosure Act (Chapter 735, Sections 5/15-1101 et seq., Illinois Compiled Statutes) (as may be amended from time to time, the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings“Act”). In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Cti Industries Corp)

Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Grantee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Grantee for reasonable attorneys’ fees actually incurred, appraiser’s fees, appraisers’ feesactual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Grantee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunderPremises, the protection of said Premises and the maintenance of the interest created by lien of this MortgageDeed, including the actual and reasonable fees actually incurred of any attorney attorneys employed by the Lender Grantee in any litigation or proceeding affecting this MortgageDeed, the Note, Note or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the MortgagorGrantor, with interest thereon until paid at the Default Rate of interest as set forth in the Note and shall be secured by this MortgageDeed. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Deed to Secure Debt and Security Agreement (Industrial Income Trust Inc.)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Noteholder shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of Illinois Mortgage Foreclosure Act (Chapter 735, Sections 5/15-1101 et seq., Illinois Compiled Statutes) (as may be amended from time to time, the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings“Act”). In the event of a foreclosure sale, the Lender Noteholder is hereby authorized, without the consent of the MortgagorMaker, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Noteholder may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) . In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Noteholder for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Noteholder may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the PremisesMortgaged Property. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the MortgagorMaker’s obligations hereunder, the protection of said Premises Mortgaged Property and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Noteholder in any litigation or proceeding affecting this Mortgage, the Note, or the PremisesMortgaged Property, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the MortgagorMaker, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, and Financing Statement (TNP Strategic Retail Trust, Inc.)

Foreclosure; Expense of Litigation. If foreclosure is made by the Trustee, reasonable attorneys' fees for services and costs incurred (aincluding, expressly, costs of services of paralegals and computer-assisted legal research) When all or any in the supervision of said foreclosure proceeding shall be allowed by the Trustee as part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingscosts. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Beneficiary for reasonable attorneys’ fees' fees (including, appraisers’ expressly, costs of services of paralegals and computer-assisted legal research), appraiser's fees, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after foreclosure sale or entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, Trustee's sale guarantees and similar data and assurances with respect to the title as the Lender Beneficiary may deem reasonably necessary advisable either to prosecute such suit or to evidence to bidders a bidder at any sale which may be had pursuant to such decree the true condition of the title to or the value of the PremisesProperty. All such expenditures and expenses of the nature mentioned in this Section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises premises and the maintenance of the interest created by lien of this MortgageDeed of Trust, including the actual and reasonable fees of any attorney employed by the Lender Beneficiary in any litigation or proceeding affecting this MortgageDeed of Trust, the Note, Note or the PremisesProperty, including probate and bankruptcy proceedings, or in the preparations for the commencement or defense of any proceeding or threatened suit or proceeding proceeding, shall be immediately due and payable by the MortgagorTrustor, with interest thereon until paid at the Default Rate Rate, and shall be secured by this MortgageDeed of Trust. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing to Secure Promissory Note (Timberline Resources Corp)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness indebtedness hereby secured shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents Documents. It is further agreed that if default be made in accordance with the applicable laws payment of any part of the State secured indebtedness, as an alternative to the right of Arkansasforeclosure for the full secured indebtedness after acceleration thereof, Mortgagee shall have the right to institute partial foreclosure proceedings with respect to the portion of said indebtedness so in default, as if under a full foreclosure, and without declaring the entire secured indebtedness due (such proceeding being hereinafter referred to as a "partial foreclosure"), and provided that if foreclosure sale is made because of default of a part of the secured indebtedness, such sale may be made subject to the continuing lien of this Mortgage for the unmatured part of the secured indebtedness. It is further agreed that such sale pursuant to a partial foreclosure shall not in any manner affect the unmatured part of the secured indebtedness, but as to such unmatured part, the lien hereof shall remain in full force and effect just as though no foreclosure sale had been made under the provisions of this Paragraph. Notwithstanding the filing of any partial foreclosure or (ii) under Arkansas law including entry of a decree of sale in connection therewith, Mortgagee may elect at any time prior to a foreclosure sale pursuant to such decree to discontinue such partial foreclosure and to accelerate the use entire secured indebtedness by reason of non-judicial statutory any uncured Event of Default upon which such partial foreclosure was predicated or by reason of any other Event of Default and proceed with full foreclosure proceedings. It is further agreed that several foreclosure sales may be made pursuant to partial foreclosures without exhausting the right of full or partial foreclosure sale for any unmatured part of the secured indebtedness. In the event of a foreclosure sale, the Lender Mortgagee is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Mortgagee may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of partially foreclose the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys' fees, reasonable appraisers' fees, outlays for documentary and expert evidence, stenographers' charges, publication costs, and reasonable costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s Xxxxxxxxx's obligations hereunder, the protection of said Premises Xxxxxxxx and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the MortgagorXxxxxxxxx, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage Note (Goss Graphic Systems Inc)

Foreclosure; Expense of Litigation. (a) a. When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of Illinois Mortgage Foreclosure Act (Chapter 735, Sections 5/15-1101 et seq., Illinois Compiled Statutes) (as may be amended from time to time, the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings"Act"). In the event of a foreclosure sale, the Lender Mortgagee is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Mortgagee may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) b. In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys' fees, appraisers' fees, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s 's obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (National Patent Development Corp)

Foreclosure; Expense of Litigation. (a) A. When all or any part of the Indebtedness indebtedness hereby secured shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents Documents. It is further agreed that if default be made in accordance with the applicable laws payment of any part of the State secured indebtedness, as an alternative to the right of Arkansasforeclosure for the full secured indebtedness after acceleration thereof, Lender shall have the right to institute partial foreclosure proceedings with respect to the portion of said indebtedness so in default, as if under a full foreclosure, and without declaring the entire secured indebtedness due (such proceeding being hereinafter referred to as a "partial foreclosure"), and provided that if foreclosure sale is made because of default of a part of the secured indebtedness, such sale may be made subject to the continuing lien of this Mortgage for the unmatured part of the secured indebtedness. It is further agreed that such sale pursuant to a partial foreclosure shall not in any manner affect the unmatured part of the secured indebtedness, but as to such unmatured part, the lien hereof shall remain in full force and effect just as though no foreclosure sale had been made under the provisions of this Paragraph. Notwithstanding the filing of any partial foreclosure or (ii) under Arkansas law including entry of a decree of sale in connection therewith, Lender may elect at any time prior to a foreclosure sale pursuant to such decree to discontinue such partial foreclosure and to accelerate the use entire secured indebtedness by reason of non-judicial statutory any uncured Event of Default upon which such partial foreclosure was predicated or by reason of any other Event of Default and proceed with full foreclosure proceedings. It is further agreed that several foreclosure sales may be made pursuant to partial foreclosures without exhausting the right of full or partial foreclosure sale for any unmatured part of the secured indebtedness. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the MortgagorBorrower, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) B. In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of partially foreclose the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys' fees, appraisers' fees, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the PremisesProperty. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s Borrower's obligations hereunder, the protection of said Premises Property and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the PremisesProperty, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the MortgagorBorrower, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Loan Agreement (Jameson Inns Inc)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws Chapter 846 of the State of ArkansasWisconsin Statutes (as such may be amended from time to time, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings“Chapter 846”). In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Lifeway Foods Inc)

Foreclosure; Expense of Litigation. (a) A. When all or any part of the Indebtedness indebtedness hereby secured shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents Documents. It is further agreed that if default be made in accordance with the applicable laws payment of any part of the State secured indebtedness, as an alternative to the right of Arkansasforeclosure for the full secured indebtedness after acceleration threof, Lender shall have the right to institute partial foreclosure proceedings with respect to the portion of said indebtedness so in default, as if under a full foreclosure, and without declaring the entire secured indebtedness due (such proceeding being hereinafter referred to as a "partial foreclosure"), and provided that if foreclosure sale is made because of default of a part of the secured indebtedness, such sale may be made subject to the continuing lien of this Mortgage for the unmatured part of the secured indebtedness. It is further agreed that such sale pursuant to a partial foreclosure shall not in any manner affect the unmatured part of the secured indebtedness, but as to such unmatured part, the lien hereof shall remain in full force and effect just as though no foreclosure sale had been made under the provisions of this Paragraph. Notwithstanding the filing of any partial foreclosure or (ii) under Arkansas law including entry of a decree of sale in connection therewith, Lender may elect at any time prior to a foreclosure sale pursuant to such decree to discontinue such partial foreclosure and to accelerate the use entire secured indebtedness by reason of non-judicial statutory any uncured Event of Default upon which such partial foreclosure was predicated or by reason of any other Event of Default and proceed with full foreclosure proceedings. It is further agreed that several foreclosure sales may be made pursuant to partial foreclosures without exhausting the right of full or partial foreclosure sale for any unmatured part of the secured indebtedness. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the MortgagorBorrower, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) B. In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of partially foreclose the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys' fees, appraisers' fees, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the PremisesProperty. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s Borrower's obligations hereunder, the protection of said Premises Property and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the PremisesProperty, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the MortgagorBorrower, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. 21. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Fixture Filing (Standard Management Corp)

Foreclosure; Expense of Litigation. (a) When After an Event of Default or when all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Beneficiary shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage Deed of Trust or any of the other Loan Documents in accordance with the applicable laws Section 51.002 of the State Texas Property Code (as may be amended from time to time, the “Act”) including advertising the time, place and terms of Arkansasthe sale and the mailing and filing of notices, or (ii) under Arkansas law including all as required by Section 51.002 of the use Act, to sell the Premises as the Trustee may elect, at public auction, in accordance with such notices on the first Tuesday in any month between the hours of non-judicial statutory foreclosure proceedings10:00 A.M. and 4:00 P.M., to the highest bidder for cash. In the event of a foreclosure sale, the Lender Beneficiary is hereby authorized, without the consent of the MortgagorTrustor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Beneficiary may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree Indebtedness secured hereby all expenditures and expenses which may be actually paid or incurred by or on behalf of Beneficiary in connection with the Lender for enforcement of this Deed of Trust or any of the other Loan Documents, including without limitation, trustee’s fees, reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Beneficiary may deem reasonably necessary either to prosecute such suit or other proceeding or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the MortgagorTrustor’s obligations hereunder, the protection of said Premises Xxxxxxxx and the maintenance of the interest created by lien of this MortgageDeed of Trust, including the actual and reasonable fees of any attorney employed by the Lender Beneficiary in any litigation or proceeding affecting this MortgageDeed of Trust, the NoteNotes, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the MortgagorTrustor, with interest thereon until paid at the Default Rate and shall be secured by this MortgageDeed of Trust. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Commercial Deed of Trust (Grubb & Ellis Healthcare REIT, Inc.)

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Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all reasonable expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys’ fees, appraisers’ appraiser’s fees, actual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney attorneys employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Note or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate of interest as set forth in the Note and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage (Glimcher Realty Trust)

Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Grantee shall have the right to foreclose the lien security title or interest hereof for such Indebtedness or part thereof and/or exercise thereof. In any right, power or remedy provided (i) in this Mortgage or any foreclosure of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, security title or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notehereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Grantee for reasonable attorneys’ fees, appraisers’ appraiser’s fees, actual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Grantee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the security title or interest created by of this MortgageSecurity Deed, including the actual and reasonable fees of any attorney attorneys employed by the Lender Grantee in any litigation or proceeding affecting this MortgageSecurity Deed, the Note, Note or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the MortgagorGrantor, with interest thereon until paid at the Default Rate of interest as set forth in the Note and shall be secured by this MortgageSecurity Deed. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Deed to Secure Debt and Security Agreement (Strategic Storage Trust, Inc.)

Foreclosure; Expense of Litigation. (a) When all the indebtedness hereby secured, or any part of the Indebtedness thereof, shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage the lien hereof or to enforce the obligations of Mortgagee hereunder or under the Notes or the Credit Agreement or any other remedy instrument securing the performance of the Lender under this Mortgage or the Notesuch obligations, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of Mortgagee for attorneys' costs and fees (including the Lender for reasonable attorneys’ costs and fees of paralegals), survey charges, appraisers' fees, appraisers’ inspecting engineers' and/or architects' fees, fees for environmental studies and assessments and all additional expenses incurred by Mortgagee with respect to environmental matters, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, Torrens certificates, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of of, or the Premisesenvironmental condition of, the Mortgaged Property. All expenditures and expenses of the nature mentioned in this Section paragraph mentioned, and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises Mortgaged Property and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Notes or the PremisesMortgaged Property, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any suit or proceeding or threatened suit or proceeding proceeding, shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate highest default rate provided in the Notes and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Real Estate Mortgage (Amcast Industrial Corp)

Foreclosure; Expense of Litigation. (a) When all the indebtedness hereby secured, or any part of the Indebtedness thereof, shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage the lien hereof or to enforce the obligations of Mortgagor hereunder, or under the Notes or the Credit Agreement, or any other remedy instrument securing the performance of the Lender under this Mortgage or the Notesuch obligations, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys’ feescosts and fees (including the costs and fees of paralegals), survey charges, appraisers’ fees, inspecting engineers’ and/or architects’ fees, fees for environmental studies and assessments and all additional expenses incurred by Mortgagee with respect to environmental matters, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of or procuring all such abstracts of title, title searches and examinations, title insurance policies, Torrens certificates, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of of, or the environmental condition of, the Mortgaged Premises. All expenditures and expenses of the nature mentioned in this Section paragraph mentioned, and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Mortgaged Premises and the maintenance Maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Credit Agreement or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement Mortgaged Premises or defense of any suit or proceeding or threatened suit or proceeding proceeding, shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Real Estate Mortgage (Miscor Group, Ltd.)

Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys’ fees actually incurred, appraiser’s fees, appraisers’ feesactual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees actually incurred of any attorney attorneys employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Note or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate of interest as set forth in the Note and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Financing Statement and Fixture Filing (Industrial Income Trust Inc.)

Foreclosure; Expense of Litigation. (a) When After an Event of Default or when all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsMortgage. In the event of a foreclosure sale, the Lender Mortgagee is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Mortgagee may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree Indebtedness secured hereby all expenditures and expenses which may be actually paid or incurred by or on behalf of Mortgagee in connection with the Lender for enforcement of this Mortgage or any of the other Loan Documents, including without limitation, reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the NoteNotes, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Open End Real Property Mortgage (NNN Healthcare/Office REIT, Inc.)

Foreclosure; Expense of Litigation. (a) When all or any part of the Indebtedness indebtedness hereby secured shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents Documents. It is further agreed that if default be made in accordance with the applicable laws payment of any part of the State secured indebtedness, as an alternative to the right of Arkansasforeclosure for the full secured indebtedness after acceleration thereof, Mortgagee shall have the right to institute partial foreclosure proceedings with respect to the portion of said indebtedness so in default, as if under a full foreclosure, and without declaring the entire secured indebtedness due (such proceeding being hereinafter referred to as a "partial foreclosure"), and provided that if foreclosure sale is made because of default of a part of the secured indebtedness, such sale may be made subject to the continuing lien of this Mortgage for the unmatured part of the secured indebtedness. It is further agreed that such sale pursuant to a partial foreclosure shall not in any manner affect the unmatured part of the secured indebtedness, but as to such unmatured part, the lien hereof shall remain in full force and effect just as though no foreclosure sale had been made under the provisions of this Paragraph. Notwithstanding the filing of any partial foreclosure or (ii) under Arkansas law including entry of a decree of sale in connection therewith, Mortgagee may elect at any time prior to a foreclosure sale pursuant to such decree to discontinue such partial foreclosure and to accelerate the use entire secured indebtedness by reason of non-judicial statutory any uncured Event of Default upon which such partial foreclosure was predicated or by reason of any other Event of Default and proceed with full foreclosure proceedings. It is further agreed that several foreclosure sales may be made pursuant to partial foreclosures without exhausting the right of full or partial foreclosure sale for any unmatured part of the secured indebtedness. In the event of a foreclosure sale, the Lender Mortgagee is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Mortgagee may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of partially foreclose the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys' fees, reasonable appraisers' fees, outlays for documentary and expert evidence, stenographers' charges, publication costs, and reasonable costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s 's obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage (Goss Graphic Systems Inc)

Foreclosure; Expense of Litigation. (a) When all or any part Upon the occurrence of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) an Event of Default and in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings. In the event of a foreclosure saleany action by Beneficiary to enforce its rights hereunder, the Lender is hereby authorizedTrustor agrees to pay all of Beneficiary’s costs and expenses, without the consent of the Mortgagorincluding but not limited to, to assign any court costs and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Note, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender for reasonable attorneys’ fees. Upon the occurrence of an Event of Default hereunder or under any other Loan Documents, appraisers’ feesBeneficiary may, outlays for documentary at its option, declare all Indebtedness and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as obligations secured hereby to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the 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 decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable without any presentment, demand, protest or notice of any kind, all of which are hereby expressly waived; and whether or not Beneficiary exercises said option, Beneficiary may: (a) To the extent permitted by the Mortgagorlaw, either in person or by agent, with or without bringing any action or proceeding (to the extent permitted by law), or by a receiver appointed by a court and without regard to the adequacy of its security, enter upon and take possession of the Premises (except for any portion of the Premises that has been released or reconveyed), or any part thereof, in its own name or in the name of the Trustee, and do any act which it deems necessary or desirable to preserve the value, marketability or rentability of the Premises, or part thereof or interest thereon until paid at therein, increase the Default Rate income therefrom or protect the security thereof and, with or without taking possession of the Premises, xxx for or otherwise collect the rents including those past due and unpaid, and apply the same, less costs and attorneys’ fees upon any Indebtedness secured hereby, all in such order as Beneficiary may determine. Trustor hereby irrevocably constitutes and appoints Beneficiary as Trustor’s attorney-in-fact, with full power of substitution, to perform such acts and execute such documents as Beneficiary in its sole discretion may consider appropriate in connection with taking these measures, including endorsement of Trustor’s name on any instruments, which appointment shall be secured deemed to be coupled with an interest. The entering upon and taking possession of the Premises, the collection of such rents, and the application thereof as aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done in response to such default or pursuant to such notice of default and, notwithstanding the continuance in possession by Trustee, Beneficiary or a receiver of all or any portion of the Premises or the collection, receipt and application of any of the rents thereby, the Trustee or Beneficiary shall be entitled to exercise every right provided for in any of the Loan Documents or by law upon the occurrence of any Event of Default, including the right to exercise the power of sale; (b) Commence an action to foreclose this Mortgage.Deed of Trust as a mortgage, appoint a receiver, or specifically enforce any of the covenants hereof; (c) Upon any foreclosure saleDeliver to Trustee such statement of breach of nonperformance and notice of sale as may then be required by applicable law, which notice the Lender may bid Trustee or Beneficiary shall cause to be duly filed for and purchase record in the Recorder’s Office of the County or Counties in which the Premises are located; or (d) Exercise all other rights and remedies provided herein, in whole any Loan Document or in parcels and shall be entitled to apply any other document or agreement now or hereafter securing all or any part portion of any indebtedness the obligations secured hereby, or obligation secured hereby as a credit to the purchase priceprovided by law.

Appears in 1 contract

Samples: Leasehold and Fee Deed of Trust (Grubb & Ellis Healthcare REIT, Inc.)

Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys' fees, appraisers’ appraiser's fees, actual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney attorneys employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, Note or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate of interest as set forth in the Note and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Financing Statement and Fixture Filing (Great Lakes Reit)

Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee and/or Lenders for reasonable attorneys’ fees, appraisers’ appraiser’s fees, actual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney attorneys employed by the Lender Mortgagee and/or Lenders in any litigation or proceeding affecting this Mortgage, the Note, Notes or the Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the applicable Default Rate of interest as set forth in the Notes and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Prime Group Realty Trust)

Foreclosure; Expense of Litigation. (a) When After an Event of Default or when all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with Minn. Stat. Sections 580.01 et seq., 581.01 et seq., 582.01 et seq., and 583.01 et seq. (as may be amended from time to time, the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings“Act”). In the event of a foreclosure sale, the Lender Mortgagee is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Mortgagee may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree Indebtedness secured hereby all expenditures and expenses which may be actually paid or incurred by or on behalf of Mortgagee in connection with the Lender for enforcement of this Mortgage or any of the other Loan Documents, including without limitation, reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Grubb & Ellis Healthcare REIT, Inc.)

Foreclosure; Expense of Litigation. (a) When all the Indebtedness hereby secured, or any part of the Indebtedness thereof shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingsthereof. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness Indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee and/or Lenders for reasonable attorneys’ fees, appraisers’ appraiser’s fees, actual costs of environmental reviews or audits, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit action or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Leasehold Premises. All expenditures and expenses of the nature mentioned in this Section Paragraph mentioned and such other expenses and fees as may be incurred in the enforcement protection of the Mortgagor’s obligations hereunder, the protection of said Leasehold Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney attorneys employed by the Lender Mortgagee and/or Lenders in any litigation or proceeding affecting this Mortgage, the Note, Notes or the Leasehold Premises, including appellate, probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding proceedings or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the applicable Default Rate of interest as set forth in the Notes and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Leasehold Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Prime Group Realty Trust)

Foreclosure; Expense of Litigation. If foreclosure is made by Trustee, reasonable attorneys' fees for services and costs incurred (aincluding, expressly, costs of services of paralegals) When all or any in the supervision of said foreclosure proceeding shall be allowed by Trustee as part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedingscosts. In the event of a foreclosure sale, the Lender is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree Secured Obligations, all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Beneficiary for reasonable attorneys’ fees' fees (including, appraisers’ expressly, costs of services of paralegals), appraiser's fees, outlays for documentary and expert evidence, stenographers' charges, publication costs, and costs (which may be estimated as to items to be expended after foreclosure sale or entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, Trustee's sale guarantees and similar data and assurances with respect to the title as the Lender Beneficiary may deem reasonably necessary advisable either to prosecute such suit or to evidence to bidders a bidder at any sale which may be had pursuant to such decree the true condition of the title to or the value of the PremisesProperty. All such expenditures and expenses of the nature mentioned in this Section and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises premises and the maintenance of the interest created by lien of this MortgageDeed of Trust, including the actual and reasonable fees of any attorney employed by the Lender Beneficiary in any litigation or proceeding affecting this MortgageDeed of Trust, the Note, Loan Documents or the PremisesProperty, including probate and bankruptcy proceedings, or in the preparations for the commencement or defense of any proceeding or threatened suit or proceeding proceeding, shall be immediately due and payable by the MortgagorTrustor, with interest thereon until paid at the Default Rate Interest Rate, and shall be secured by this MortgageDeed of Trust. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Bridge Loan and Debt Restructuring Agreement (Golden Phoenix Minerals Inc)

Foreclosure; Expense of Litigation. (a) a. When all or any part of the Indebtedness shall become due, whether by acceleration or otherwise, the Lender Mortgagee shall have the right to foreclose the lien hereof for such Indebtedness or part thereof and/or exercise any right, power or remedy provided (i) in this Mortgage or any of the other Loan Documents in accordance with the applicable laws of Illinois Mortgage Foreclosure Act (Chapter 735, Sections 5/15-1101 et seq., Illinois Compiled Statutes) (as may be amended from time to time, the State of Arkansas, or (ii) under Arkansas law including the use of non-judicial statutory foreclosure proceedings“Act”). In the event of a foreclosure sale, the Lender Mortgagee is hereby authorized, without the consent of the Mortgagor, to assign any and all insurance policies to the purchaser at such sale or to take such other steps as the Lender Mortgagee may deem advisable to cause the interest of such purchaser to be protected by any of such insurance policies. (b) b. In any suit or other proceeding to foreclose this Mortgage or enforce any other remedy of the Lender under this Mortgage or the Notelien hereof, there shall be allowed and included as additional indebtedness in the decree for sale or other judgment or decree all expenditures and expenses which may be actually paid or incurred by or on behalf of the Lender Mortgagee for reasonable attorneys’ fees, appraisers’ fees, outlays for documentary and expert evidence, stenographers’ charges, publication costs, and costs (which may be estimated as to items to be expended after entry of the decree) of procuring all such abstracts of title, title searches and examinations, title insurance policies, and similar data and assurances with respect to the title as the Lender Mortgagee may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of the Premises. All expenditures and expenses of the nature mentioned in this Section paragraph and such other expenses and fees as may be incurred in the enforcement of the Mortgagor’s obligations hereunder, the protection of said Premises and the maintenance of the interest created by lien of this Mortgage, including the actual and reasonable fees of any attorney employed by the Lender Mortgagee in any litigation or proceeding affecting this Mortgage, the Note, or the Premises, including probate and bankruptcy proceedings, or in preparations for the commencement or defense of any proceeding or threatened suit or proceeding shall be immediately due and payable by the Mortgagor, with interest thereon until paid at the Default Rate and shall be secured by this Mortgage. (c) Upon any foreclosure sale, the Lender may bid for and purchase the Premises in whole or in parcels and shall be entitled to apply all or any part of any indebtedness or obligation secured hereby as a credit to the purchase price.

Appears in 1 contract

Samples: Construction Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (Textura Corp)

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