Common use of Foreclosure Clause in Contracts

Foreclosure. Beneficiary may institute any one or more actions of foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Tranche A Loans. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary may institute any one or more actions of foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Tranche A LoansSecurities. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary Mortgagee may institute any one or more actions of mortgage foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust Mortgage and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Tranche A LoansDefault Rate. Without limiting the foregoing, Beneficiary Mortgagee may cause the foreclosure of foreclose this Deed of Trust Mortgage and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust Mortgage for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary Mortgagee in its sole discretion may elect. GrantorMortgagor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary Mortgagee shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of TrustMortgage, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and GrantorMortgagor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor Mortgagor as a defense in any proceeding instituted by Beneficiary Mortgagee to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary Mortgagee may institute any one or more actions of mortgage foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust Mortgage and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Tranche A LoansSecurities. Without limiting the foregoing, Beneficiary Mortgagee may cause the foreclosure of foreclose this Deed of Trust Mortgage and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust Mortgage for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary Mortgagee in its sole discretion may elect. GrantorMortgagor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary Mortgagee shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of TrustMortgage, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and GrantorMortgagor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor Mortgagor as a defense in any proceeding instituted by Beneficiary Mortgagee to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary Mortgagee may institute any one or more actions of mortgage foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust Mortgage and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Tranche A Loans. Without limiting the foregoing, Beneficiary Mortgagee may cause the foreclosure of foreclose this Deed of Trust Mortgage and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust Mortgage for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary Mortgagee in its sole discretion may elect. GrantorMortgagor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary Mortgagee shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of TrustMortgage, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and GrantorMortgagor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor Mortgagor as a defense in any proceeding instituted by Beneficiary Mortgagee to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary During the continuance of an Event of Default hereunder, Lender may institute any one or more actions of foreclosure against all or any part of an action to foreclose this Mortgage as to the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Tranche A Loans. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then amount so declared due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of thereupon the Property by judicial proceedings(or any portion thereof) shall be sold according to law to satisfy and pay the same, the together with all costs, expenses and allowances thereof, including, without limitation, Reasonable Attorneys' Fees. The Property may be sold in one parcel parcel, several parcels or in such groups of parcels, manner or order as Beneficiary in its sole discretion may elect. Grantorand Lender shall be entitled to bid at the sale and, if Lender is the highest bidder for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder part or otherwise appertaining parts thereof, Lender shall be entitled to purchase the same. If, following the acceleration of the Note but prior to the Liabilities foreclosure of this Mortgage against the Property, Borrower shall tender to Lender payment of an amount sufficient to pay the entire secured indebtedness, such tender shall be deemed to be a voluntary prepayment under the Note and, consequently, Borrower shall also pay to Lender any Prepayment Premium (to the extent permitted by the Laws of the State) required under the Note to be paid in order to prepay principal and, if such principal payment is made during any period when prepayment is prohibited by this Mortgage or the Note, the applicable charge or Prepayment Premium (to the extent permitted by the Laws of the State) shall be the maximum Prepayment Premium provided for in the Note; provided, however, that in no event shall any amount payable under this Section or any other obligation Section relating to Prepayment Premiums or otherwise, when added to the interest otherwise payable on the Note and the other secured by this Deed of Trustindebtedness, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect exceed the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Propertymaximum interest permitted under applicable law.

Foreclosure. Beneficiary Lender may institute any one or more actions of mortgage foreclosure against all or any part of the Property, or take such other action at law, equity or by contract for the enforcement of this Deed of Trust Mortgage and realization on the Property security herein or elsewhere provided forfor the Liabilities, as or any part thereof, to the fullest extents that applicable law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the highest rate borne by the Tranche A Loanspermitted under Florida law. Without limiting the foregoing, Beneficiary Lender may cause the foreclosure of foreclose this Deed of Trust Mortgage and exercise its rights as a secured party for all or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust Mortgage for the balance not then due and payable. In case of any sale sale(s) of any of the Property by judicial proceedings, the Property may be sold in one parcel lot parcel, or in such as many lots, parcels, manner or order order, as Beneficiary Lender in its sole discretion may elect. GrantorBorrower, for itself and anyone claiming by, through or under it, hereby agrees agrees, to the fullest extent not expressly precluded by applicable law. that Beneficiary Lender shall in no manner, whether in law or in equity, be limited, limited except as herein provided, provided in the exercise of its rights as a secured party in the Property Property, or in any other security hereunder or otherwise appertaining pertaining to the Liabilities or any other obligation secured by this Deed of TrustMortgage, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and GrantorBorrower, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant or any other third party a defendant to a foreclosure proceeding shall not be asserted by Grantor Borrower as a defense in any proceeding instituted by Beneficiary ▇▇▇▇▇▇ to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Propertythereafter.

Foreclosure. Beneficiary (a) Upon the occurrence and during the continuance of a default, the Holder may take such action, without notice or demand, as it deems advisable to protect and enforce its rights against Mortgagor and in and to the Property, including, but not limited to, the following actions, each of which may be pursued concurrently or otherwise, at such time and in such order as the Holder may determine, in its sole discretion, without impairing or otherwise affecting the other rights and remedies of the Holder: (i) institute proceedings for the complete foreclosure of this Mortgage in which case the Property or any part thereof may be sold for cash or upon credit in one or more actions of foreclosure against all portions, under executory process or any part of other legal process; or (ii) to the Property, or take such other action at extent permitted and pursuant to the procedures provided by applicable law, equity or by contract institute proceedings for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, or (b) the rate borne by the Tranche A Loans. Without limiting the foregoing, Beneficiary may cause the partial foreclosure of this Deed of Trust and exercise its rights as a secured party Mortgage for all or any the portion of the Liabilities which are secured indebtedness then due and payable, subject to the continuing lien Lien of this Deed of Trust Mortgage for the balance of the secured indebtedness not then due and payable. In case due; or (iii) institute an action, suit or proceeding in equity for the specific performance of any covenant, condition or agreement contained in this Mortgage or the Transaction Documents; or (iv) recover judgment on the Secured Notes or the Guaranty either before, during or after any proceedings for the enforcement of this Mortgage; or (v) apply for the appointment of a trustee, receiver, keeper, liquidator or conservator of the Property, without regard for the adequacy of the security for the secured indebtedness and without regard for the solvency of Mortgagor or of any person, firm or other entity liable for the payment of the secured indebtedness; or (vi) pursue such other remedies as the Holder may have under applicable law. (b) Upon the occurrence and during the continuance of a default, Holder may exercise its rights of enforcement with respect to the Collateral under the Uniform Commercial Code or any other statute in force in any state to the extent the same is applicable law. Cumulative of the foregoing and the other provisions of this Section 4.4; (i) Holder may enter upon the Mortgaged Properties or otherwise upon Mortgagor's premises to take possession of, assemble and collect the Collateral or to render it unusable; and (ii) Holder may require Mortgagor to assemble the Collateral and make it available at a place Holder designates which is mutually convenient to allow Holder to take possession or dispose of the Collateral; and (iii) written notice mailed to Mortgagor as provided herein at least ten (10) days prior to the date of public sale of the Property by judicial proceedingsCollateral or prior to the date after which private sale of the Collateral will be made shall constitute reasonable notice; and (iv) in the event of a foreclosure of the liens and/or security interests evidenced hereby, the Property Collateral, or any part thereof, and the Mortgaged Properties, or any part thereof, may, at the option of Holder, be sold, as a whole or in parts, together or separately (including where a portion of the Mortgaged Properties is sold, the Collateral related thereto may be sold in one parcel connection therewith); and (v) the expenses of sale provided for in clause FIRST of Section 4.7 shall include the reasonable expenses of retaking the Collateral, or any part thereof, holding the same and preparing the same for sale or other disposition; and (vi) should, under this subsection, the Collateral be disposed of other than by sale, any proceeds of such disposition shall be treated under Section 4.7 as if the same were sales proceeds. (c) To the extent permitted by applicable law, the sale hereunder of less than the whole of the Property shall not exhaust the right to judicial foreclosure, and successive sale or sales may be made until the whole of the Property shall be sold, and, if the proceeds of such sale of less than the whole of the Property shall be less than the aggregate of the indebtedness secured hereby and the expense of conducting such sale, this Mortgage and the liens and security interests hereof shall remain in full force and effect as to the unsold portion of the Property just as though no sale had been made; provided, however, that Mortgagor shall never have any right to require the sale of less than the whole of the Property. Any sale may be adjourned by announcement at the time and place appointed for such parcelssale without further notice except as may be required by law. Any and all statements of fact or other recitals made in any deed or deeds, manner or other instruments of transfer, given in connection with a sale as to nonpayment of the secured indebtedness or as to the occurrence of any default, or as to all of the secured indebtedness having been declared to be due and payable, or as to the request to sell, or as to notice of time, place and terms of sale and the properties to be sold having been duly given, or as to any other act or thing having been duly done, shall be taken as prima facie evidence of the truth of the facts so stated and recited. Notwithstanding any reference herein to the Secured Notes or any other Transaction Document, all persons dealing with the Mortgaged Properties shall be entitled to rely on any document, or certificate, of Holder as to the occurrence of an event, such as an Event of Default, and shall not be charged with or forced to review any provision of any other document to determine the accuracy thereof. With respect to any sale held in foreclosure of the liens and/or security interests covered hereby, it shall not be necessary for the Holder, any public officer acting under execution or order as Beneficiary of the court or any other party to have physically present or constructively in his/her or its sole discretion may elect. Grantorpossession, for itself and anyone claiming byeither at the time of or prior to such sale, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit part thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Property.

Foreclosure. Beneficiary Take such steps as are appropriate to foreclose or otherwise enforce all Liens granted to Bank to secure payment and performance of the Obligations, and to exercise any and all rights afforded secured parties by the UCC, the Loan Documents, at law, in equity or otherwise. In addition to, and without limiting or restricting in any way the foregoing, Bank or its designee may institute take possession of any one Collateral and related documents securing the obligations or more actions any portion thereof not already in the possession of foreclosure against Bank or its designee, and of any documents or instruments held by Borrower for the benefit of Bank and may direct Borrower to, and Borrower will, gather or assemble all of such Collateral and documents or any portion thereof at the principal offices of Bank or its designee as Bank shall determine or any other place reasonably convenient to Borrower and Bank as such parties shall agree, may notify any party obligated on any Collateral securing the Obligations or a portion thereof to make all payments due or to become due with respect thereto directly to Bank or its designee, with the amounts of such payments to be held for the benefit of Bank, and Bank or its designee may collect such payments; enforce collection of any Collateral securing the obligations or a portion thereof by suit or otherwise in its own name or in the name of Borrower; assign, negotiate or transfer any such Collateral for purposes of collection; surrender, release, substitute or exchange all or any part of such Collateral or any collateral, security or guaranty therefor; or compromise or extend or renew for any period (whether or not longer than the Propertyoriginal period) any indebtedness thereunder or evidenced thereby. Upon the request of Bank or its designee, Borrower will, at its own expense, notify any person obligated upon any Collateral securing the obligations or take such other action at law, equity a portion thereof to make payment to Bank or by contract for the enforcement of this Deed of Trust and realization on the security herein or elsewhere provided for, as the law may allow, and may proceed therein to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance its designee of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgments, amounts due or (b) the rate borne by the Tranche A Loans. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights as a secured party for all or any portion of the Liabilities which are then to become due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or in any other security hereunder or otherwise appertaining to the Liabilities or any other obligation secured by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Propertythereunder.

Foreclosure. If any Event of Default shall have occurred, Beneficiary may institute at any one time proceed, at law or more actions of foreclosure against all in equity or any part otherwise, to enforce the payment of the PropertyNote in accordance with the terms thereof and, if the Note has been declared due and payable: (a) to institute an action to foreclose its interest under the Lien of this Deed of Trust against the Trust Property by judicial foreclosure sale or strict foreclosure in one proceeding or against portions of the Trust Property in a series of separate proceedings, and to have the same sold under the judgment or decree of a court of competent jurisdiction or proceed to take any of such actions; (b) to take such other action at law, law or in equity or by contract otherwise for the enforcement of this Deed of Trust and realization the realization, upon obtaining a judgment for foreclosure, on the security or any other security herein or elsewhere provided for, in such manner and at such times as the law may allow, and may proceed therein to the extent permitted, and subject to the limitations imposed, by law to final judgment and execution for the entire unpaid balance of the Liabilities. The unpaid balance Debt, together with all other sums payable by Trustor in accordance with the provisions of any judgment shall bear interest at the greater of (a) the statutory rate provided for judgmentsNote, or (b) the rate borne by the Tranche A Loans. Without limiting the foregoing, Beneficiary may cause the foreclosure of this Deed of Trust and exercise its rights the other Loan Documents, and all sums which may have been advanced by Beneficiary for Taxes and Other Charges, water or sewer rents, charges or claims, payment on prior liens, insurance or repairs to the Trust Property, all costs of suit, together with interest thereon at such interest rate as a secured party for may be awarded in any judgment obtained by Beneficiary, as the case may be, from and after the date of any foreclosure sale until actual payment is made to Beneficiary of the full amount due Beneficiary, and attorneys' fees through and including all appellate levels; and/or (c) to sell, assign, transfer and deliver the whole or, from time to time, any part of the Trust Property, or any portion of the Liabilities which are then due and payable, subject to the continuing lien of this Deed of Trust for the balance not then due and payable. In case of any sale of the Property by judicial proceedings, the Property may be sold in one parcel or in such parcels, manner or order as Beneficiary in its sole discretion may elect. Grantor, for itself and anyone claiming by, through or under it, hereby agrees that Beneficiary shall in no manner, in law or in equity, be limited, except as herein provided, in the exercise of its rights in the Property or interest in any part thereof, at any private sale or at public auction permitted by law, with such demand, advertisement or notice as required by law, and on such other security hereunder terms as required or otherwise appertaining to the Liabilities or any other obligation secured permitted by this Deed of Trust, whether by any statute, rule or precedent which may otherwise require said security to be marshalled in any manner and Grantor, for itself and others as aforesaid, hereby expressly waives and releases any right to or benefit thereof. The failure to make any tenant a defendant to a foreclosure proceeding shall not be asserted by Grantor as a defense in any proceeding instituted by Beneficiary to collect the Liabilities or any deficiency remaining unpaid after the foreclosure sale of the Propertylaw.