Common use of Personal Property and Fixtures Clause in Contracts

Personal Property and Fixtures. Upon the occurrence of an Event of Default or at any time thereafter, the Bank shall have and may exercise with respect to the Personal Property and fixtures included in the Property (the "Collateral") all rights, remedies and powers of a secured party under the Georgia Uniform Commercial Code with reference to the Collateral or any other items in which a security interest has been granted herein, including, without limitation, the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Collateral and any part or parts thereof in any manner to the fullest extent authorized or permitted under the Georgia Uniform Commercial Code after default hereunder, without regard to preservation of the Collateral or its value and without the necessity of a court order. The Bank shall have, among other rights, the right to take possession of the Collateral and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the Bank; at its option and its sole discretion, to repair, restore or otherwise prepare the Collateral for sale, lease or other use or disposition. At the Bank's request, the Grantor shall assemble the Collateral and make the Collateral available to the Bank at any place designated by the Bank. To the extent permitted by law, the Grantor expressly waives any notice of sale or any other disposition of the Collateral and any rights or remedies of the Bank with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Collateral or to the exercise of any other right or remedy of the Bank existing after default. To the extent that such notice is required and cannot be waived, the Grantor agrees that if such notice is given to the Grantor in accordance with the provisions of paragraph 27 below, at least five (5) days before the time of the sale or other disposition, such notice shall be deemed reasonable and shall fully satisfy any requirement for giving said notice. The Grantor agrees that the Bank may proceed to sell or dispose of both the Real Estate and Personal Property comprising the Property in accordance with the rights and remedies granted under this security deed with respect to the Real Estate covered hereby. The Grantor hereby grants the Bank the right, at its option after default hereunder, to transfer at any time to itself or its nominee the Collateral or any part thereof and to receive the monies, income, proceeds and benefits attributable to the same and to hold the same as Collateral or to apply it on the Debt in such order and amounts and manner as the Bank may elect. The Grantor covenants and agrees that all recitals in any instrument transferring, assigning, leasing or making other disposition of the Collateral or any part thereof shall be full proof of the matters stated therein and no other proof shall be required to establish the legal propriety of the sale or other action taken by the Bank and that all prerequisites of sale shall be presumed conclusively to have been performed or to have occurred.

Personal Property and Fixtures. Upon the occurrence of an Event of Default or at any time thereafter, the Bank Beneficiary shall have and may exercise with respect to the Personal Property and fixtures included in the Property (the "Collateral") all rights, remedies and powers of a secured party under the Georgia North Carolina Uniform Commercial Code with reference to the Collateral or any other items in which a security interest has been granted herein, including, without limitation, the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Collateral and any part or parts thereof in any manner to the fullest extent authorized or permitted under the Georgia North Carolina Uniform Commercial Code after default hereunder, without regard to preservation of the Collateral or its value and without the necessity of a court order. The Bank Beneficiary shall have, among other rights, the right to take possession of the Collateral and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the BankBeneficiary; at its option and its sole discretion, to repair, restore or otherwise prepare the Collateral for sale, lease or other use or disposition. At the BankBeneficiary's request, the Grantor Mortgagor shall assemble the Collateral and make the Collateral available to the Bank Beneficiary at any place designated by the BankBeneficiary. To the extent permitted by law, the Grantor Mortgagor expressly waives any notice of sale or any other disposition of the Collateral and any rights or remedies of the Bank Beneficiary with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Collateral or to the exercise of any other right or remedy of the Bank Beneficiary existing after default. To the extent that such notice is required and cannot be waived, the Grantor Mortgagor agrees that if such notice is given to the Grantor Mortgagor in accordance with the provisions of paragraph 27 26 below, at least five (5) days before the time of the sale or other disposition, such notice shall be deemed reasonable and shall fully satisfy any requirement for giving said notice. The Grantor Mortgagor agrees that the Bank Beneficiary through the Trustee may proceed to sell or dispose of both the Real Estate real and Personal Property personal property comprising the Property in accordance with the rights and remedies granted under this security deed of trust with respect to the Real Estate real property covered hereby. The Grantor Mortgagor hereby grants the Bank Trustee the right, at its option after default hereunder, to transfer at any time to itself or its nominee the Collateral or any part thereof and to receive the monies, income, proceeds and benefits attributable to the same and to hold the same as Collateral or to apply it on the Debt in such order and amounts and manner as the Bank Beneficiary may elect. The Grantor Mortgagor covenants and agrees that all recitals in any instrument transferring, assigning, leasing or making other disposition of the Collateral or any part thereof shall be full proof of the matters stated therein and no other proof shall be required to establish the legal propriety of the sale or other action taken by the Bank Beneficiary and that all prerequisites of sale shall be presumed conclusively to have been performed or to have occurred.

Personal Property and Fixtures. Upon the occurrence of an Event of Default or at any time thereafter, the Bank Mortgagee shall have and may exercise with respect to the Personal Property and fixtures included in the Property (the "“Collateral"”) all rights, remedies and powers of a secured party under the Georgia Alabama Uniform Commercial Code with reference to the Collateral or any other items in which a security interest has been granted herein, including, without limitation, the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Collateral and any part or parts thereof in any manner to the fullest extent authorized or permitted under the Georgia Alabama Uniform Commercial Code after default hereunder, without regard to preservation of the Collateral or its .its value and without the necessity of a court order. The Bank Mortgagee shall have, among other rights, the right to take possession of the Collateral and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the BankMortgagee; at its option and its sole discretion, to repair, restore or otherwise prepare the Collateral for sale, lease or other use or disposition. At the Bank's Mortgagee’s request, the Grantor Mortgagor shall assemble the Collateral and make the Collateral available to the Bank Mortgagee at any place designated by the BankMortgagee. To the extent permitted by law, the Grantor Mortgagor expressly waives any notice of sale or any other disposition of the Collateral and any rights or remedies of the Bank Mortgagee with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Collateral or to the exercise of any other right or remedy of the Bank Mortgagee existing after default. To the extent that such notice is required and cannot be waived, the Grantor Mortgagor agrees that if such notice is given to the Grantor Mortgagor in accordance with the provisions of paragraph 27 28 below, at least five (5) days before the time of the sale or other disposition, such notice shall be deemed reasonable and shall fully satisfy any requirement for giving said notice. The Grantor Mortgagor agrees that the Bank Mortgagee may proceed to sell or dispose of both the Real Estate real and Personal Property personal property comprising the Property in accordance with the rights and remedies granted under this security deed mortgage with respect to the Real Estate real property covered hereby. The Grantor Mortgagor hereby grants the Bank Mortgagee the right, at its option after default hereunder, to transfer at any time to itself or its nominee the Collateral or any part thereof and to receive the monies, income, proceeds and benefits attributable to the same and to hold the same as Collateral or to apply it on the Debt in such order and amounts and manner as the Bank Mortgagee may elect. The Grantor Mortgagor covenants and agrees that all recitals in any instrument transferring, assigning, leasing or making other disposition of the Collateral or any part thereof shall be full proof of the matters stated therein and no other proof shall be required to establish the legal propriety of the sale or other action taken by the Bank Mortgagee and that all prerequisites of sale shall be presumed conclusively to have been performed or to have occurred.

Personal Property and Fixtures. Upon the occurrence of an Event of Default or at any time thereafter, the Bank (a) The Credit Obligor shall have and may exercise with respect to the Personal Property any or all personal property and fixtures included in the Property Collateral (the "CollateralPersonal Property and Fixtures") ), all rights, remedies and powers of a secured party under the Georgia Alabama Uniform Commercial Code with reference to the Collateral Personal Property and Fixtures or any other items in which a security interest has been granted herein, including, including without limitation, limitation the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Collateral Personal Property and Fixtures and any part or parts thereof in any manner manner, to the fullest extent authorized or permitted under the Georgia Alabama Uniform Commercial Code after default hereunder, without regard to preservation of the Collateral Personal Property and Fixtures or its value and without the necessity of a court order. The Bank Credit Obligor shall have, among other rights, the right to take possession of the Collateral Personal Property and Fixtures and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the Bank; Credit Obligor, at its option and in its sole discretion, 23 to repair, restore or otherwise prepare the Collateral Personal Property and Fixtures for sale, sale or lease or other use or disposition. At the Bank's request, the Grantor shall assemble the Collateral and make the Collateral available to the Bank at any place designated by the Bank. To the extent permitted by law, the Grantor Mortgagors, expressly waives waive any notice of sale or any other disposition of the Collateral Personal Property and Fixtures and any rights or remedies of the Bank Credit Obligor with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Collateral Personal Property and Fixtures or to the exercise of any other right or remedy of the Bank Credit Obligor existing after default. To the extent that such notice is required and cannot be waived, the Grantor agrees Mortgagors agree that if such notice is given to the Grantor Mortgagors in accordance with the provisions of paragraph 27 Section 9.08 below, at least five (5) 5 days before the time of the sale or other disposition, such notice shall be deemed reasonable reasonable, and shall fully satisfy any requirement for giving said notice. The Grantor agrees that the Bank may proceed to sell or dispose of both the Real Estate and Personal Property comprising the Property in accordance with the rights and remedies granted under this security deed with respect to the Real Estate covered hereby. The Grantor hereby grants the Bank the right, at its option after default hereunder, to transfer at any time to itself or its nominee the Collateral or any part thereof and to receive the monies, income, proceeds and benefits attributable to the same and to hold the same as Collateral or to apply it on the Debt in such order and amounts and manner as the Bank may elect. The Grantor covenants and agrees that all recitals in any instrument transferring, assigning, leasing or making other disposition of the Collateral or any part thereof shall be full proof of the matters stated therein and no other proof shall be required to establish the legal propriety of the sale or other action taken by the Bank and that all prerequisites of sale shall be presumed conclusively to have been performed or to have occurred.