Foreclosure of Mortgage. The Trustee, as assignee of the Lessor, and as mortgagee of the Mortgage, may foreclose on the Mortgage and apply any net proceeds received therefrom for the account of the Bondholders as provided for in the Indenture.
Foreclosure of Mortgage. Lender shall have all the rights given it pursuant to the Loan Documents and the Florida Statutes and other applicable laws to foreclose its mortgage.
Foreclosure of Mortgage. When the indebtedness hereby secured shall become due whether by acceleration or otherwise, the Lender shall have the right to foreclose the lien hereof. In any suit to foreclose the lien hereof, there shall be allowed and included as additional indebtedness in the order of foreclosure or sale all expenditures and expenses which may be paid or incurred by or on behalf of Lender for reasonable attorneys' fees, appraisers' fees, outlays for documentary and expert evidence, stenographer's charges, publication cost and costs of procuring all abstracts of title or commitments for title insurance. Such fees, charges and costs may be estimated as to items to be expended after entry of the order of foreclosure or sale as Lender may deem reasonably necessary either to prosecute such suit or to evidence to bidders at any sale which may be had pursuant to such decree the true condition of the title to or the value of such property. All expenditures and expenses of the nature mentioned in this paragraph shall become so much additional indebtedness secured hereby and shall be immediately due and payable with interest thereon at the rate specified in the Note secured hereby. Such expenditures and expenses shall include expenditures made in connection with: (a) any proceeding to which Lender shall be a party, either as plaintiff, claimant or defendant, by reason of this Mortgage or any indebtedness hereby secured; (b) preparation for the commencement of any suit for foreclosure hereof after accrual of such right to foreclose whether or not actually commenced; (c) preparations for the defense of any threatened suit or proceeding which might affect the Property or the security hereof, whether or not actually commenced; (d) any efforts for collection of any past due indebtedness secured hereby. The proceeds of any foreclosure sale of the Property shall be distributed and applied in the following order of priority: first on account of all costs and expenses incident to the foreclosure proceedings, including all such items as are mentioned in this paragraph; second, all other items which under the terms hereof constitute indebtedness secured by this Mortgage; third, any surplus to Mortgagor, its successors or assigns, as their rights may appear.
Foreclosure of Mortgage. The mort- gagee may elect to commence fore- closure proceedings. If the laws of the State where the property is located do not permit institution of foreclosure within such 30-day period, foreclosure shall be commenced not less than 30 days after such action can be taken. Under such proceedings, the mortgagee shall take one of the following actions:
(i) Obtain possession of the mort- gaged property and the income there- from through the voluntary surrender thereof by the mortgagor.
(ii) Institute and prosecute with rea- sonable diligence, proceedings for the appointment of a receiver to manage the mortgaged property and collect in- come therefrom.
(iii) Proceed to exercise such other rights and remedies as may be avail- able to it for the protection and preser- vation of the mortgaged property and to obtain the income therefrom under the mortgage and the law of the par- ticular jurisdiction.
(iv) With the prior approval of the Commissioner, exercise the power of sale under a deed of trust.
Foreclosure of Mortgage. If an Event of Default shall have occurred and be continuing during any period in which Liberty Bank and Trust Company of Tulsa, National Association, shall be Trustee and such Trustee shall have received a direction from the Requisite Registered Owners to foreclose the Mortgage, such Trustee shall not be required to proceed with foreclosure if such Trustee determines, in the exercise of its sole and unlimited discretion, that it desires a Phase I/II Environmental Report and such Trustee is indemnified for the cost of such Phase I/II Environmental Report and any other report recommended therein. Further, if such Trustee determines, in the exercise of its sole and unlimited discretion, that it does not desire to become the owner, in its capacity as trustee, of the property subject to the Mortgage, such Trustee shall not be required to proceed with foreclosure and shall give notice of such determination to the Registered Owners. If the Requisite Registered Owners of the outstanding Bonds nonetheless desire to proceed with foreclosure and so notify such Trustee, such Trustee may resign and such resignation shall become effective upon acceptance of appointment by a Successor Trustee under Section 1013 of this Indenture. If the Successor Trustee requests any indemnification for any loss, cost or expense arising out of foreclosure, any such
Foreclosure of Mortgage. The breach of any of the requirements as set forth in this Agreement, 24 CFR 92, or any federal or state law or regulation applicable under this Agreement, constitute an event of default. If after notification according to Clause AThird@ and AFourth@ of this Agreement, the default is not cured the PJ shall be authorize at it=s prudent discretion to terminate this Agreement and recovered HOME funds by foreclosing the mortgage.---
Foreclosure of Mortgage. Upon the occurrence of any Default, or at any time thereafter, Lender may, at its option, proceed to foreclose the lien of this Mortgage by judicial proceedings in accordance with the laws of the state of in which the premises are located. Any failure by Lender to exercise such option shall not constitute a waiver of its right to exercise the same at any other time.
