Common use of Proceeds of Foreclosure Clause in Contracts

Proceeds of Foreclosure. The proceeds of any sale held by Trustee or Grantee or any receiver or public officer in foreclosure of the liens and security interests evidenced hereby shall be applied: FIRST, to the payment of all necessary costs and expenses incident to such foreclosure sale, including but not limited to all reasonable attorneys' fees and legal expenses, all court costs and charges of every character, and a reasonable fee (not exceeding five percent (5%) of the gross proceeds of such sale) to Trustee acting under the provisions of paragraph (a) of Section 5.1 hereof if foreclosed by power of sale as provided in said paragraph, and to the payment of the other Secured Indebtedness, including specifically without limitation, the principal, accrued interest and attorneys' fees due and unpaid on the Loans and the amounts due and unpaid and owed to Grantee under this Deed of Trust, the order and manner of application to the items in this clause FIRST to be in Grantee's sole discretion; and SECOND, the remainder, if any there shall be, shall be paid to Grantor, or to Grantor's successors or assigns, or such other persons (including the holder or beneficiary of any inferior lien) as may be entitled thereto by law; provided, however, that if Grantee is uncertain which person or persons are so entitled, Grantee may interplead such remainder in any court of competent jurisdiction, and the amount of any attorneys' fees, court costs and expenses incurred in such action shall be a part of the Secured Indebtedness and shall be reimbursable (without limitation) from such remainder.

Proceeds of Foreclosure. The Subject to applicable law, the proceeds of any sale held by Trustee or Grantee or any receiver or public officer at the instance of the Beneficiary in foreclosure of the liens and security interests evidenced hereby shall be appliedapplied in such order or priority as the Beneficiary may elect, in its sole discretion, which may include the application thereof in accordance with the following: FIRST, to the payment of all necessary costs and expenses incident to such foreclosure sale, including but not limited to all reasonable attorneys' ’ fees and legal expenses, all court costs costs, commissions and charges of every character, and a reasonable fee (not exceeding five percent (5%) of the gross proceeds of such sale) to Trustee acting under the provisions of paragraph (a) of Section 5.1 hereof if foreclosed by power of sale as provided in said paragraph, and to the payment of the other Secured IndebtednessObligations, including specifically without limitation, limitation the principal, accrued interest interest, prepayment premium and attorneys' ’ fees due and unpaid on the Loans Obligations and the amounts due and unpaid and owed to Grantee Beneficiary under this Deed of Trust, the order and manner of application to the items terms in this clause FIRST to be in Grantee's Beneficiary’s sole discretion; and SECOND, the remainder, if any there shall be, shall be paid to GrantorTrustor, or to Grantor's Trustor’s heirs, representatives, successors or assigns, or such other persons (including the holder or beneficiary of any inferior lien) as may be entitled thereto by law; provided, however, that if Grantee Beneficiary is uncertain which person or persons are so entitled, Grantee Beneficiary may interplead commence appropriate proceedings with respect to such remainder in any court of competent jurisdiction, and the amount of any attorneys' ’ fees, court costs and expenses incurred in such action shall be a part of the Secured Indebtedness Obligations and shall be reimbursable (without limitation) from such remainder.

Proceeds of Foreclosure. The Subject to applicable law, the proceeds of any sale held by Trustee or Grantee or any receiver or public officer at the instance of the Beneficiary in foreclosure of the liens and security interests evidenced hereby shall be appliedapplied in such order or priority as the Beneficiary may elect, in its sole discretion, which may include the application thereof in accordance with the following: FIRST, to the payment of all necessary costs and expenses incident to such foreclosure sale, including but not limited to all reasonable attorneys' ’ fees and legal expenses, all court costs costs, commissions and charges of every character, and a reasonable fee (not exceeding five percent (5%) of the gross proceeds of such sale) to Trustee acting under the provisions of paragraph (a) of Section 5.1 hereof if foreclosed by power of sale as provided in said paragraph, and to the payment of the other Secured IndebtednessObligations, including specifically without limitation, limitation the principal, accrued interest interest, prepayment premium and attorneys' ’ fees due and unpaid on the Loans Obligations and the amounts due and unpaid and owed to Grantee Beneficiary under this Deed of Trust, the order and manner of application to the items terms in this clause FIRST to be in Grantee's Beneficiary’s sole discretion; and SECOND, the remainder, if any there shall be, shall be paid to Grantor, or to Grantor's ’s heirs, representatives, successors or assigns, or such other persons (including the holder or beneficiary of any inferior lien) as may be entitled thereto by law; provided, however, that if Grantee Beneficiary is uncertain which person or persons are so entitled, Grantee Beneficiary may interplead commence appropriate proceedings with respect to such remainder in any court of competent jurisdiction, and the amount of any attorneys' ’ fees, court costs and expenses incurred in such action shall be a part of the Secured Indebtedness Obligations and shall be reimbursable (without limitation) from such remainder.

Proceeds of Foreclosure. The proceeds of any sale held by Trustee or Grantee Holder or any receiver or public officer in foreclosure of the liens and security interests evidenced hereby shall be applied: FIRST, to the payment of all necessary costs and expenses incident to such foreclosure sale, including but not limited to all reasonable attorneys' fees and legal expenses, all court costs and charges of every character, and a reasonable fee (not exceeding five percent (5%) of the gross proceeds of such sale) to Trustee acting under the provisions of paragraph PARAGRAPH (ac) of Section SECTION 5.1 hereof if foreclosed by power of sale as provided in said paragraph, and to the payment of the other Secured Indebtednesssecured indebtedness, including specifically without limitation, limitation the principal, accrued interest and attorneys' fees due and unpaid on the Loans Note and the amounts due and unpaid and owed to Grantee Holder under this Deed of TrustMortgage, the order and manner of application to the items in this clause FIRST to be in GranteeXxxxxx's sole discretion; and SECOND, the remainder, if any there shall be, shall be paid to Grantor, or to Grantor's heirs, devisees, representatives, successors or assigns, or such other persons (including the holder or beneficiary of any inferior lien) as may be entitled thereto by law; , provided, however, that if Grantee Holder is uncertain which person or persons are so entitled, Grantee . Holder may interplead such remainder in any court of competent jurisdiction, and the amount of any attorneys' fees, court costs and expenses incurred in such action shall be a part of the Secured Indebtedness secured indebtedness and shall be reimbursable (without limitation) from such remainder.

Proceeds of Foreclosure. The proceeds of any sale held by Trustee or Grantee Agent or any receiver or public officer in foreclosure of the liens and security interests evidenced hereby shall be applied: FIRST, to the payment of all necessary costs and expenses incident to such foreclosure sale, including but not limited to all reasonable attorneys' fees and legal expenses, all court costs and charges of every character, and a reasonable fee (not exceeding five percent (5%) of the gross proceeds of such sale) to Trustee acting under the provisions of paragraph (a) of Section 5.1 hereof if foreclosed by power of sale as provided in said paragraph, and to the payment of the other Secured Indebtednesssecured indebtedness, pro rata, including specifically without limitation, limitation the principal, accrued interest and attorneys' fees due and unpaid on the Loans Notes and the amounts due and unpaid and owed to Grantee Agent and each other Holder under this Deed of TrustMortgage, the order and manner of application to the items in this clause FIRST to be in GranteeAgent's sole discretion; and SECOND, the remainder, if any there shall be, shall be paid to Grantor, or to Grantor's heirs, devisees, representatives, successors or assigns, or such other persons (including the holder or beneficiary of any inferior lien) as may be entitled thereto by law; provided, however, that if Grantee Agent is uncertain which person or persons are so entitled, Grantee Agent may interplead such remainder in any court of competent jurisdiction, jurisdiction and the amount of any reasonable attorneys' fees, court costs and expenses incurred in such action shall be a part of the Secured Indebtedness secured indebtedness and shall be reimbursable (without limitation) from such remainder.

Proceeds of Foreclosure. The proceeds of any sale held by Trustee or Grantee the Beneficiary or any receiver or public officer in foreclosure of the liens and security interests interest evidenced hereby shall be applied: FIRST, to the payment of all necessary costs and expenses incident to such foreclosure sale, including but not limited to all reasonable attorneys' fees and legal expenses, all court costs and charges of every character, and a reasonable fee (not exceeding five percent (5%) of the gross proceeds of such sale) to Trustee acting under the provisions of paragraph (a) of Section 5.1 hereof if foreclosed by power of sale as provided in said paragraph, and to the payment of the other Secured Indebtedness, including specifically without limitation, the principal, accrued interest and attorneys' fees due and unpaid on the Loans and the amounts due and unpaid and owed to Grantee under this Deed of Trust, the order and manner of application to the items in this clause FIRST to be in Granteethe Beneficiary's sole discretion; and SECOND, the remainder, if any there shall be, shall be paid to Grantor, or to Grantor's heirs, devisees, representatives, successors or assigns, or such other persons (including the holder Beneficiary or beneficiary the Beneficiary of any inferior lien) as may be entitled thereto by law; provided, however, that if Grantee the Beneficiary is uncertain which person or persons are so entitled, Grantee the Beneficiary may interplead such remainder in any court of competent jurisdiction, and the amount of any attorneys' fees, court costs and expenses incurred in such action shall be a part of the Secured Indebtedness and shall be reimbursable (without limitation) from such remainder.

Proceeds of Foreclosure. The Subject to applicable law, the proceeds of any sale held by Trustee or Grantee or any receiver or public officer at the instance of the Mortgagee in foreclosure of the liens and security interests evidenced hereby shall be appliedapplied in such order or priority as the Mortgagee may elect, in its sole discretion, which may include the application thereof in accordance with the following: FIRST, to the payment of all necessary costs and expenses incident to such foreclosure sale, including but not limited to all reasonable attorneys' ’ fees and legal expenses, all court costs costs, commissions and charges of every character, and a reasonable fee (not exceeding five percent (5%) of the gross proceeds of such sale) to Trustee acting under the provisions of paragraph (a) of Section 5.1 hereof if foreclosed by power of sale as provided in said paragraph, and to the payment of the other Secured IndebtednessObligations, including specifically without limitation, limitation the principal, accrued interest interest, prepayment premium and attorneys' ’ fees due and unpaid on the Loans Obligations and the amounts due and unpaid and owed to Grantee Mortgagee under this Deed of TrustMortgage, the order and manner of application to the items terms in this clause FIRST to be in Grantee's Mortgagee’s sole discretion; and SECOND, the remainder, if any there shall be, shall be paid to GrantorMortgagor, or to Grantor's Mortgagor’s heirs, representatives, successors or assigns, or such other persons (including the holder or beneficiary of any inferior lien) as may be entitled thereto by law; provided, however, that if Grantee Mortgagee is uncertain which person or persons are so entitled, Grantee Mortgagee may interplead commence appropriate proceedings with respect to such remainder in any court of competent jurisdiction, and the amount of any attorneys' ’ fees, court costs and expenses incurred in such action shall be a part of the Secured Indebtedness Obligations and shall be reimbursable (without limitation) from such remainder.