Power of Sale in Oklahoma Sample Clauses

Power of Sale in Oklahoma. Any sale of any part of the Mortgaged Property located in the State of Oklahoma shall be made in conformity to the laws thereof, and it is agreed that the appraisement of any such properties is expressly waived or not waived at the option of the Agent, and any such option may be exercised prior to the time judgment is rendered in any foreclosure hereon. A POWER OF SALE HAS BEEN GRANTED IN THIS MORTGAGE. A POWER OF SALE MAY ALLOW THE AGENT TO TAKE THE MORTGAGED PROPERTY AND SELL IT WITHOUT GOING TO COURT IN A FORECLOSURE ACTION UPON DEFAULT BY MORTGAGOR UNDER THIS MORTGAGE. The parties hereto are cognizant of and acknowledge the Oklahoma Power of Sale Mortgage Foreclosure Act which went into effect November 1, 1986. Notwithstanding any provision Article IV to the contrary, it is the intent of the parties that the provisions herein relating to the power of sale which are applicable to the Mortgaged Property located in the State of Oklahoma are subject to the provisions of the Oklahoma Power of Sale Mortgage Foreclosure Act. In addition, it is the intent of the parties that the power of sale granted herein may be exercised by the Agent pursuant to the terms and provisions of the Oklahoma Power of Sale Mortgage Foreclosure Act.
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Power of Sale in Oklahoma. Any sale of any part of the Mortgaged Property located in the State of Oklahoma shall be made in conformity to the laws thereof, and it is agreed that the appraisement of any such properties is expressly waived or not waived at the option of the Agent, and any such option may be exercised prior to the time judgment is rendered in any foreclosure hereon. A POWER OF SALE HAS BEEN GRANTED IN THIS MORTGAGE. A POWER OF SALE MAY ALLOW THE AGENT TO TAKE THE MORTGAGED PROPERTY AND SELL IT WITHOUT GOING TO COURT IN A FORECLOSURE ACTION UPON DEFAULT BY GRANTOR UNDER THIS MORTGAGE. The parties hereto are cognizant of and acknowledge the Oklahoma Power of Sale Mortgage Foreclosure Act which went into effect November 1, 1986. Notwithstanding any provision of Article IV to the contrary, it is the intent of the parties that the provisions herein relating to the power of sale which are applicable to the Mortgaged Property located in the State of Oklahoma are subject to the provisions of the Oklahoma Power of Sale Exh G-14 145 Mortgage Foreclosure Act. In addition, it is the intent of the parties that the power of sale granted herein may be exercised by the Mortgagee pursuant to the terms and provisions of the Oklahoma Power of Sale Mortgage Foreclosure Act. To that end, Mortgagor hereby confers and grants to the Agent and Trustee the power to sell the Mortgaged Property and the interests of persons therein in the manner provided in the Oklahoma Power of Sale Mortgage Foreclosure Act. No action of the Agent or the Trustee based on the provisions in this Mortgage or the Oklahoma Power of Sale Mortgage Foreclosure Act, including the giving of the Notice of Intent to Foreclose by Power of Sale or the Notice of Sale, shall constitute an election of remedies that would preclude the Agent or Trustee from pursuing judicial foreclosure before or at any time after commencement of the power of sale foreclosure procedure mandated by the Oklahoma Power of Sale Mortgage Foreclosure Act.
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