Common use of Proceeds of Foreclosure Clause in Contracts

Proceeds of Foreclosure. The proceeds of any sale held in ------------------------- foreclosure of the liens and/or 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 court costs and charges of every character in the event foreclosed by suit or any judicial proceeding and including but not limited to a reasonable fee to the Trustee if such sale was made by the Trustee acting under the provisions of Section 4.4(a) and including but not limited to the compensation of the keeper, if any; SECOND, to the payment of the secured indebtedness (including ------ specifically without limitation the principal, interest and attorneys' fees due and unpaid on the Notes and the amounts due and unpaid and owed under this Mortgage) in such manner and order as Agent may elect; and THIRD, the remainder, if any there shall be, shall be paid to ----- Mortgagor, or to Mortgagor's heirs, devisees, representatives, successors or assigns, or such other persons as may be entitled thereto by law.

Proceeds of Foreclosure. The Unless applicable law requires otherwise, the proceeds of any sale held in ------------------------- foreclosure of the liens and/or 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 court costs and charges of every character in the event foreclosed by suit or any judicial proceeding and including but not limited to a reasonable fee to the Trustee Lender if such sale was made by the Trustee Lender acting under the provisions of Section 4.4(a4.2 (a) and including but not limited to the compensation of the keeper, if any; SECOND, to the payment of the secured indebtedness (including ------ specifically without limitation the principal, interest and reasonable attorneys' fees due and unpaid on the Notes Note and the amounts due and unpaid and owed under this Mortgage) in such manner and order as Agent Lender may elect; and THIRD, the remainder, if any there shall be, shall be paid to ----- Mortgagor, or to Mortgagor's heirs, devisees, representatives, successors or assigns, or such other persons as may be entitled thereto by law.

Proceeds of Foreclosure. The proceeds of any sale held in ------------------------- foreclosure of the liens and/or 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 court costs and charges of every character in the event foreclosed by suit or any judicial proceeding and including but not limited to a reasonable fee to the Trustee if such sale was made by the Trustee acting under the provisions of Section 4.4(a) and including but not limited to the compensation of the keeper, if any); -5- 263 SECOND, to the payment of the secured indebtedness (including ------ specifically without limitation the principal, interest and attorneys' fees due and unpaid on the Notes Credit Agreement and the amounts due and unpaid and owed under this Mortgage) in such manner mariner and order as Agent may elect; and THIRD, the remainder, if any there shall be, shall be paid to ----- Mortgagor, or to Mortgagor's heirs, devisees, representatives, successors or assigns, or such other persons as may be entitled thereto by law."