Common use of Possession After Foreclosure Clause in Contracts

Possession After Foreclosure. If the liens or security interests ---------------------------- hereof shall be foreclosed by power of sale granted herein, by judicial action, or otherwise, the purchaser at any such sale shall receive, as an incident to purchaser's ownership, immediate possession of the property purchased, and if Borrower or Borrower's successors shall hold possession of said property or any part thereof subsequent to foreclosure, Borrower and Borrower's successors shall be considered as tenants at sufferance of the purchaser at foreclosure sale (without limitation of other rights or remedies, at a reasonable rental per day, due and payable daily, based upon the value of the portion of the Mortgaged Property so occupied and sold to such purchaser), and anyone occupying such portion of the Mortgaged Property, after demand is made for possession thereof, shall be guilty of forcible detainer and shall be subject to eviction and removal, forcibly or otherwise, with or without process of law, and all damages by reason thereof are hereby expressly waived.

Appears in 2 contracts

Samples: Open End Mortgage Deed, Security Agreement, and Assignment of Leases and Rents (Hologic Inc), Mortgage, Security Agreement and Assignment of Leases and Rents (Hologic Inc)

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Possession After Foreclosure. If the liens or security interests ---------------------------- hereof shall be foreclosed by power of sale granted hereinMortgagee’s sale, by judicial action, action or otherwise, the purchaser at any such sale shall receive, as an incident to purchaser's Mortgagee’s ownership, immediate possession of the property purchased, and if Borrower Mortgagor or Borrower's Mortgagor’s successors shall hold possession of said property or any part thereof thereof, subsequent to foreclosure, Borrower Mortgagor and Borrower's Mortgagor’s successors shall be considered as tenants at sufferance of the purchaser at foreclosure sale (without limitation of other rights or remedies, at a reasonable rental per day, due and payable daily, based upon the value of the portion of the Mortgaged Property so occupied and sold to such purchaseroccupied), and anyone occupying such portion of the Mortgaged Property, Property after demand is made for possession thereof, thereof shall be guilty of forcible detainer and shall be subject to eviction and removal, forcibly forcible or otherwise, with or without process of law, and all damages by reason thereof are hereby expressly waived.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (American Leisure Holdings, Inc.), Mortgage and Security Agreement (American Leisure Holdings, Inc.)

Possession After Foreclosure. If the liens or security interests ---------------------------- hereof shall be foreclosed by power of sale granted herein, by judicial action, or otherwise, the purchaser at any such sale shall receive, as an incident to purchaser's ownership, immediate possession of the property purchased, and if Borrower Mortgagor or BorrowerMortgagor's successors shall hold possession of said property or any part thereof subsequent to foreclosure, Borrower Mortgagor and BorrowerMortgagor's successors shall be considered as tenants at sufferance of the purchaser at foreclosure sale (without limitation of other rights or remedies, at a reasonable rental per day, due and payable daily, based upon the value of the portion of the Mortgaged Property so occupied and sold to such purchaser), and anyone occupying such portion of the Mortgaged Property, after demand is made for possession thereof, shall be guilty of forcible detainer and shall be subject to eviction and removal, forcibly forcible or otherwise, with or without process of law, and all damages by reason thereof are hereby expressly waived.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Innovative Food Holdings Inc)

Possession After Foreclosure. If the liens or security interests ---------------------------- hereof shall be foreclosed by power of sale granted herein, by judicial action, or otherwise, the purchaser at any such sale shall receive, as an incident to purchaser's ownership, immediate possession of the property purchased, and if Borrower Obligor or BorrowerObligor's successors shall hold possession of said property or any part thereof subsequent to foreclosure, Borrower Obligor and BorrowerObligor's successors shall be considered as tenants at sufferance of the purchaser at foreclosure sale (without limitation of other rights or remedies, at a reasonable rental per day, due and payable daily, based upon the value of the portion of the Mortgaged Property so occupied and sold to such purchaser), and anyone occupying such portion of the Mortgaged Property, after demand is made for possession thereof, shall be guilty of forcible detainer and shall be subject to eviction and removal, forcibly forcible or otherwise, with or without process of law, and all damages by reason thereof are hereby expressly waived.

Appears in 1 contract

Samples: Assignment of Leases and Rents (JDN Realty Corp)

Possession After Foreclosure. If the liens or security interests ---------------------------- hereof shall be foreclosed by power of sale granted herein, by judicial action, or otherwise, the purchaser at any such sale shall receive, as an incident to purchaser's ownership, immediate possession of the property purchased, and if Borrower Grantor or BorrowerGrantor's successors shall hold possession of said property or any part thereof subsequent to foreclosure, Borrower Grantor and BorrowerGrantor's successors shall be considered as tenants at sufferance of the purchaser at foreclosure sale (without limitation of other rights or remedies, at a reasonable rental per day, due and payable daily, based upon the value of the portion of the Mortgaged Property so occupied and sold to such purchaser), and anyone occupying such portion of the Mortgaged Property, after demand is made for possession thereof, shall be guilty of forcible detainer and shall be subject to eviction and removal, forcibly forcible or otherwise, with or without process of law, and all damages by reason thereof are hereby expressly waived.

Appears in 1 contract

Samples: Deed of Trust (Cellstar Corp)

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Possession After Foreclosure. If the liens or security interests ---------------------------- hereof shall be foreclosed by power of sale granted herein, by judicial action, or otherwise, the purchaser at any such sale shall receive, as an incident to purchaser's ’s ownership, immediate possession of the property purchased, and if Borrower or Borrower's Bxxxxxxx’s successors shall hold possession of said property or any part thereof subsequent to foreclosure, Borrower and Borrower's Bxxxxxxx’s successors shall be considered as tenants at sufferance of the purchaser at foreclosure sale (without limitation of other rights or remedies, at a reasonable rental per day, due and payable daily, based upon the value of the portion of the Mortgaged Property so occupied and sold to such purchaser), and anyone occupying such portion of the Mortgaged Property, after demand is made for possession thereof, shall be guilty of forcible detainer and shall be subject to eviction and removal, forcibly forcible or otherwise, with or without process of law, and all damages by reason thereof are hereby expressly waived.

Appears in 1 contract

Samples: Deed of Trust (Parks America, Inc)

Possession After Foreclosure. If the liens or security interests ---------------------------- hereof shall be foreclosed by power of sale granted hereinsale, by judicial action, action or otherwise, the purchaser at any such sale shall receive, as an incident to purchaser's ownership, receive immediate possession of the property purchased, and if Borrower Mortgagor or BorrowerMortgagor's successors shall hold possession of said property or any part thereof thereof, subsequent to foreclosure, Borrower Mortgagor and BorrowerMortgagor's successors shall be considered as tenants at sufferance of the purchaser at foreclosure sale (without limitation of other rights or remedies, at a reasonable rental per day, due and payable daily, based upon the value of the portion of the Mortgaged Property so occupied and sold to such purchaseroccupied), and anyone occupying such portion of the Mortgaged Property, Property after demand is made for possession thereof, thereof shall be guilty of forcible detainer trespass and shall be subject to eviction and removal, forcibly forcible or otherwise, with or without process of law, and all damages by reason thereof are hereby expressly waivedwaived by Mortgagor and Mortgagor's successors.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Rents, Fixture Filing and Financing Statement (Maui Land & Pineapple Co Inc)

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