Common use of Notice of Sale; Sale of Property Clause in Contracts

Notice of Sale; Sale of Property. If Lender invokes the power of sale, Lender or its agent will execute or cause Trustee to execute written notice of the occurrence of an event of Default and of Lenders’ election to cause the Property to be sold, and will cause such notice to be recorded in each county in which any part of the Property is located. Lender, its agent, or the Trustee will mail copies of the notice as prescribed by Applicable Law to Borrower and to the other required recipients. Trustee will give public notice of sale to the persons and in the manner prescribed by Applicable Law. At a time permitted by, and in accordance with Applicable Law, Trustee, without further demand on Borrower, will sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may submit a credit bid and may purchase the Property at any sale.

Notice of Sale; Sale of Property. If Lender Xxxxxx invokes the power of sale, Lender or its agent Trustee will execute or cause Trustee to execute a written notice of the occurrence of an event of Default and of Lenders’ the election to cause the Property to be sold, sold and will cause record such notice to be recorded in each county in which any part of the Property is located. Lender, its agent, Lender or the Trustee will mail copies of such notice, in the notice as manner prescribed by Applicable Law Law, to Borrower and to the other required recipients. In the event Borrower does not cure the Default within the period then prescribed by Applicable Law, Trustee will give public notice of the sale to the persons and in the manner prescribed by Applicable Law. At a time permitted bypermitted, and in accordance with Applicable Law, Trustee, without further demand on Borrower, will sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determinesdetermines (but subject to any statutory right of Borrower to direct the order in which the Property, if consisting of several known lots or parcels, will be sold). Trustee may in accordance with Applicable Law, postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or its designee may submit a credit bid and may purchase the Property at any sale.