Foreclosure Procedures. Within 30 days following the Restatement Date, execution and delivery of an agreement by Buyer and Seller of the Foreclosure Procedures in a form mutually acceptable to Buyer and Seller;
Foreclosure Procedures. Seller shall use its best efforts to comply with the Foreclosure Procedures.
Foreclosure Procedures. During the period during which any Mortgage Loan is being foreclosed, funds in the Borrower's Tax and Insurance Reserve, as well as any rent receipts, shall be used to pay all taxes and insurance premiums that become due to the extent permitted by law, with any excess rents being deposited into the P & I Account. The Servicer shall advance (to the extent recoverable) payment of attorneys' fees, trustee's fees and other foreclosure costs at the commencement of foreclosure proceedings. The Servicer shall give Notice to the Owner (which notice may be contained in the Servicer's monthly reports pursuant to Article VII) of a foreclosure sale. The Notice shall set forth the date, location and time of the foreclosure sale. The Servicer shall be responsible for the general management of the Mortgaged Premises after any acquisition through foreclosure or deed-in-lieu of foreclosure or after the Servicer shall have taken possession of the Mortgaged Premises, whichever first occurs, until the Mortgaged Premises are otherwise disposed of and shall take whatever action is necessary to protect the security for the Mortgage Loan. Such action shall include management, maintenance and protection against vandals or the elements if the Mortgaged Premises are vacated. The Servicer shall also make monthly inspections to assure that the Mortgaged Premises are not damaged by vandals or the elements.
Foreclosure Procedures. The Bank shall give Debtor such notice of any private or public sale as may be required by the UCC. The Bank has no obligation to clean up or otherwise prepare the Collateral for sale. The Bank has no obligation to attempt to satisfy the Liabilities by collecting them from any other person liable for them and The Bank may release, modify or waive any collateral provided by any other person to secure any of the Liabilities, all without affecting The Bank’s rights against Debtor. Debtor waives any right it may have to require The Bank to pursue any third person for any of the Liabilities. The Bank may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered to adversely affect the commercial reasonableness of any sale of the Collateral. The Bank may sell the Collateral without giving any warranties as to the Collateral. The Bank may specifically disclaim any warranties of title or the like. Any lack or disclaimer of warranties will not be considered to adversely affect the commercial reasonableness of any sale of the Collateral. If the Bank sells any of the Collateral upon credit, Debtor will be credited only with payments actually made by the purchaser, received by the Bank, and applied to the indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, The Bank may resell the Collateral and Debtor shall be credited with the proceeds of the sale. In the event the Bank purchases any of the Collateral being sold, the Bank may pay for the Collateral by crediting some or all of the Liabilities of the Debtor. The Bank has no obligation to marshal any assets in favor of Debtor, or against or in payment of any of the Liabilities or any obligation owed to the Bank by any other person.
Foreclosure Procedures. (i) Secured Party shall give Debtor such notice of any private or public sale as may be required by the UCC.
(ii) Secured Party has no obligation to clean-up or otherwise prepare the Collateral for sale.
(iii) Secured Party has no obligation to attempt to satisfy the Obligations by collecting it from any other person liable for them and Secured Party may release, modify or waive any collateral provided by any other person to secure any of the Obligations, all without affecting Secured Party's rights against Debtor. Debtor waives any rights it may have to require Secured Party to pursue any third person for any of the Obligations.
(iv) Secured Party may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral.
(v) Secured Party may sell the Collateral without giving any warranties as to the Collateral. Secured Party may specifically disclaim any warranties of title or the like. This procedure will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral.
(vi) If Secured Party sells any of the Collateral upon credit, Debtor will be credited only with payments actually made by the purchaser, received by Secured Party and applied to the indebtedness of the Debtor. In the event the purchaser fails to pay for the Collateral, Secured Party may resell the Collateral and Debtor shall be credited with the proceeds of the sale.
(vii) In the event Secured Party purchases any of the Collateral being sold, Secured Party may pay for the Collateral by crediting some or all of the Obligations of the Debtor.
(viii) Secured Party has no obligation to marshal any assets in favor of Debtor, or against or in payment of:
(a) the Note, (b) any of the other Obligations, or (c) any other obligation owed to Secured Party by Debtor or any other person.
Foreclosure Procedures. 13.4.1. Foreclosure Expenses.............................................. 13.4.2. Bidding Instructions.............................................. 13.4.3.
Foreclosure Procedures. In the event that any payment(s) due under any Mortgage Loan remains delinquent and Servicer determines that such payment(s) are unlikely to be collected from the Mortgagor, the Servicer may, if it deems it advisable, order one or more Broker Price Opinions or property inspections with respect to the related Mortgaged Property, and may commence foreclosure proceedings in accordance with Accepted Servicing Practices in the locality where the Mortgaged Property is located. In such connection, the Servicer shall from its own funds, subject to reimbursement pursuant to Section 6.03(b)(i), make all necessary and proper Servicing Advances; provided, however, that the Servicer shall have no obligation to advance any amount that the Servicer determines is likely to be a Nonrecoverable Advance. The Servicer shall provide to Angel Oak, with regard to such foreclosures, monthly reporting in a form to be agreed upon by Angel Oak and the Servicer.
Foreclosure Procedures. EACH OF THE TRIBE AND THE BORROWER EXPRESSLY AGREES THAT FOR JUDGMENTS, DECREES, ORDERS, WARRANTS, SUBPOENAS, RECORDS OR OTHER JUDICIAL ACTS RESULTING FROM ANY ACTION AUTHORIZED HEREUNDER, INCLUDING WITHOUT LIMITATION A FORECLOSURE JUDGMENT, A TRIBAL POLICE OFFICER OR TRIBAL LAW ENFORCEMENT OFFICIAL OR OTHER LICENSED PEACE OFFICER ACTING PURSUANT TO TRIBAL AUTHORITY (EACH, A “TRIBAL OFFICER”) IS AUTHORIZED TO EXECUTE SUCH JUDGMENT, DECREE, ORDER, WARRANT, SUBPOENA, RECORD OR OTHER JUDICIAL ACT. IN THE CASE OF ANY SUCH FORECLOSURE ORDER OR JUDGMENT, AFTER DELIVERY OF SUCH ORDER OR JUDGMENT BY A TRIBAL OFFICER, SUCH TRIBAL OFFICER SHALL PROCEED TO ENTER UPON ANY PROPERTY OF ANY TRIBAL PARTY TO REMOVE SUCH PERSONAL PROPERTY OR TO PERMIT REMOVAL BY THE PARTY IN WHOSE FAVOR THE ORDER OR JUDGMENT WAS ISSUED. EACH TRIBAL PARTY EXPRESSLY GRANTS, ACKNOWLEDGES, AND CONFIRMS THE GRANTEES’ AND GRANTEES’ AGENT’S RIGHT OF ACCESS TO SUCH TRIBAL PARTY’S PROPERTY FOR THE PURPOSE OF ENFORCING REMEDIES AGAINST ANY COLLATERAL OR OTHER PROPERTY LOCATED THEREON TO WHICH SUCH GRANTEE HAS RECOURSE TO ENFORCE OBLIGATIONS UNDER THE LOAN DOCUMENTS.
Foreclosure Procedures. ACCOUNT # 9660933082 / NOTE # 00010
Foreclosure Procedures. Secured Party has no obligation to clean up or otherwise prepare the Collateral for sale. Secured Party may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. Secured Party may sell the Collateral without giving any warranties as to the Collateral. Secured Party may specifically disclaim any warranties of title or the like. This procedure will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. If Secured Party sells any of the Collateral upon credit, Debtor will be credited only with payments actually made by the purchaser, received by Secured Party and applied to the indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, Secured Party may resell the Collateral and Debtor shall be credited with the proceeds of the sale. In the event Secured Party purchases any of the Collateral being sold, Secured Party may pay for the Collateral by crediting some or all of the Secured Obligations of Debtor.
