Common use of Judicial Foreclosure Clause in Contracts

Judicial Foreclosure. This Mortgage shall be effective as a mortgage as well as a deed of trust and upon the occurrence of a Default may be foreclosed as to any of the Mortgaged Property in any manner permitted by the laws of the State of Texas or of any other state in which any part of the Mortgaged Property is situated, and any foreclosure suit may be brought by Trustee or by Noteholder. In the event a foreclosure hereunder shall be commenced by Trustee, or his substitute or successor, Noteholder may at any time before the sale of the Mortgaged Property direct Trustee to abandon the sale, and may then institute suit for the collection of the Indebtedness, and/or for the foreclosure of this Mortgage. It is agreed that if Noteholder should institute a suit for the collection of the Indebtedness and/or for the foreclosure of this Mortgage, Noteholder may at any time before the entry of a final judgment in said suit dismiss the same, and require Trustee, his substitute or successor to sell the Mortgaged Property in accordance with the provisions of this Mortgage.

Judicial Foreclosure. This Mortgage Deed of Trust shall be effective as a mortgage as well as a deed of trust and upon the occurrence of a an Event of Default may be foreclosed as to any of the Mortgaged Property Premises in any manner permitted by the laws of the State of Texas STATE OF TEXAS or of any other state in which any part of the Mortgaged Property Premises is situated, and any foreclosure suit may be brought by Trustee or by NoteholderState Farm. In the event a foreclosure hereunder shall be commenced by Trustee, or his substitute or successor, Noteholder State Farm may at any time before the sale of the Mortgaged Property Premises direct Trustee to abandon the sale, and may then institute suit for the collection of the Indebtedness, and/or for the foreclosure of this MortgageDeed of Trust. It is agreed that if Noteholder State Farm should institute a suit for the collection of the Indebtedness and/or for the foreclosure of this MortgageDeed of Trust, Noteholder State Farm may at any time before the entry of a final judgment in said suit dismiss the same, and require Trustee, his substitute or successor to sell the Mortgaged Property Premises in accordance with the provisions of this MortgageDeed of Trust.

Judicial Foreclosure. This Mortgage shall be effective as a mortgage as well as a deed of trust and upon the occurrence of a Default may be foreclosed as to any of the Mortgaged Property in any manner permitted by the laws of the State of Texas or of any other state in which any part of the Mortgaged Property is situated, and any foreclosure suit may be brought by Trustee or by Noteholder. In the event a foreclosure hereunder shall be commenced by Trustee, or his substitute or successor, Noteholder may at any time before the sale of the Mortgaged Property direct Trustee to abandon the sale, and may then institute suit for the collection of the Indebtedness, and/or and for the foreclosure of this Mortgage. It is agreed that if Noteholder should institute a suit for the collection of the Indebtedness and/or and for the foreclosure of this Mortgage, Noteholder may at any time before the entry of a final judgment in said suit dismiss the same, and require Trustee, his substitute or successor to sell the Mortgaged Property in accordance with the provisions of this Mortgage.