Common use of Rights Pertaining to Sales Clause in Contracts

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under Article VI, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. After any such sale, Lender shall deliver to the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such sale.

Appears in 12 contracts

Samples: Mortgage and Security Agreement (Mack Cali Realty Corp), Promissory Note (Mack Cali Realty L P), Mortgage and Security Agreement (Mack Cali Realty L P)

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Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender or Trustee may determine in its or their sole discretion, apply to any sales of the Property under this Article VIIII, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender or Trustee may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in its entirety or any other manner consistent with applicable Laws as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice; or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender or Trustee is authorized to deduct under the provisions of the Documents. After any such sale, Lender Trustee shall deliver to the purchaser at such sale a the Trustee’s deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Personperson, including Borrower Borrower, Trustee or Lender, may purchase at such sale.

Appears in 5 contracts

Samples: Deed of Trust, Security Agreement and Fixture Filing, Deed of Trust, Security Agreement and Fixture Filing (CNL Healthcare Properties, Inc.), Deed of Trust, Security Agreement and Fixture Filing (CNL Healthcare Properties, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Mortgaged Property under Article VIor by virtue of Subsection (d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure : (i) Trustee or otherwise: (a) Lender Beneficiary may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Mortgaged Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Beneficiary's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Trustee, Beneficiary or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Trustor in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Loan Agreement. Each of Trustee and Beneficiary is hereby appointed the true and lawful attorney-in-fact of Trustor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Trustor's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Trustor hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Trustor, if requested by Beneficiary or Trustee, shall ratify and confirm any such sale may occuror sales by executing and delivering to Beneficiary, without further notice, at the time fixed by the last postponement Trustee or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Beneficiary's or Trustee's judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection (de)(iii) Lender above given by Beneficiary shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (v) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Trustor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Trustor and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Trustor to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Beneficiary may bid for and acquire the Mortgaged Property and, in lieu of paying cashcash therefor, may pay make a settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender Beneficiary or Trustee is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, Lender it shall deliver not be necessary for Beneficiary or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleMortgaged Property.

Appears in 5 contracts

Samples: Deed of Trust (HRPT Properties Trust), Deed of Trust (HRPT Properties Trust), Deed of Trust (HRPT Properties Trust)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the The following provisions shall, as Lender may determine in its sole discretionto the extent permitted by law, apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of this Security Instrument, whether by judicial proceeding, judgment, decree, under any power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (a) Lender may Trustee (for purposes of this Section 7.12 only, the term “Trustee” shall be interpreted to include any public officer or other person having the responsibility to conduct a single any sale of all or part of the Property pursuant to this Security Instrument) may conduct any number of sales from time to time. The power of sale shall not be exhausted by any one or multiple more of such sales of as to any part of the Property that has not been sold or by any sale that is not completed or is defective until the Debt has been paid in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; full. (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or sale, and such sale may occur, be completed at the time and place so announced without further notice. (c) Lender is hereby appointed the true and lawful attorney-in-fact of Borrower, at which appointment is irrevocable and shall be deemed to be coupled with an interest, in Borrower’s name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the time fixed Property and rights so sold, and for that purpose Lender may execute all necessary instruments to accomplish the same, and may substitute one or more persons with like power, and Borrower hereby ratifies and confirms all that said attorney or such substitute or substitutes shall lawfully do by the last postponement virtue thereof. Nevertheless, Borrower, if requested by Lender, shall ratify and confirm any such sale or a new notice of sale sales by executing and delivering to Lender or such purchaser or purchasers, as applicable, all such instruments as may be given; and advisable, in Lender’s judgment, for the purposes designated in such request. (d) Any and all statements of fact or other recitals made in any of the instruments referred to in Section 7.12(c) given by Lender concerning nonpayment of the Debt, occurrence of any Event of Default, any declaration by Lender that all or any of the Debt is due and payable, any request to sell, any representation that notice of time, place and terms of sale and property or rights to be sold was duly given, or that any other act or thing was duly done by Lender, shall be taken as prima facie evidence of the truth of the facts so stated and recited. (e) The receipt by Trustee of the purchase money paid at any such sale, or the receipt of any other person authorized to give the same, shall be sufficient discharge therefor to any purchaser of any property or rights sold as aforesaid, and no purchaser, or its representatives, grantees or assigns, after paying such purchase price and receiving such receipt, shall be bound to see to the application of such purchase price or any part thereof upon or for any trust or purpose of this Security Instrument or, in any manner whatsoever, be answerable for any loss, misapplication or non-application of any such purchase money, or part thereof, or be bound to inquire as to the authorization, necessity, expediency or regularity of any such sale. (f) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof, by, through or under Borrower to the fullest extent permitted by applicable law. (g) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder and any other sums which that Lender is authorized to deduct charge to Borrower under the provisions terms of the Documents. After Note, this Security Instrument, or any other Loan Document to the extent necessary to satisfy such bid. (h) If Borrower, or any person claiming by, through or under Borrower, shall transfer or refuse or fail to surrender possession of the Property after any sale thereof, then Borrower or such person shall be deemed a tenant at sufferance of the purchaser at such sale, subject to eviction by means of unlawful detainer proceedings or other appropriate proceedings, and to any other right or remedy available hereunder or under applicable law. (i) Upon any such sale, it shall not be necessary for Trustee, Lender or any public officer acting under execution or order of court to have present or constructively in its possession any or all of the Property. (j) In the event of any sale referred to in this Section 7.12, the entire Debt, if not previously due and payable, immediately thereupon shall, notwithstanding anything to the contrary in the Note, this Security Instrument or any other Loan Document, become due and payable. (k) This instrument shall be effective as a mortgage. If a sale hereunder shall be commenced by Trustee, Lender may, at any time before the sale of the Property, direct the Trustee to abandon the sale, and may institute suit for the collection of the Debt or part thereof and for the foreclosure of this Security Instrument. If Lender shall deliver to institute suit for the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof collection of the truthfulness Debt or part thereof, and for the foreclosure of this Security Instrument, Lender may at any time before the entry of final judgment in said suit dismiss the same (or part thereof) and direct the Trustee to sell the Property in accordance with the provisions of this Security Instrument. Any PersonLender may pursue its rights and remedies against any guarantor or other party liable for any of the obligations in such a suit for foreclosure or by separate suit, including Borrower whether or Lender, may purchase at such salenot the Trustee is also pursuing a sale under the terms hereof.

Appears in 5 contracts

Samples: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Deed of Trust (TNP Strategic Retail Trust, Inc.)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender or Trustee may determine in its or their sole discretion, apply to any sales of the Property under this Article VIIII, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender or Trustee may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in its entirety or any other manner consistent with applicable Laws as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice; or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender or Trustee is authorized to deduct under the provisions of the Documents. After any such sale, Lender Trustee shall deliver to the purchaser at such sale a the Trustee’s deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Personperson, including Borrower or Lender, may purchase at such sale.

Appears in 3 contracts

Samples: Deed of Trust and Security Agreement, Deed of Trust and Security Agreement (CNL Healthcare Properties, Inc.), Deed of Trust and Security Agreement (CNL Healthcare Properties, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Mortgaged Property under Article VIor by virtue of Subsection (d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (ai) Lender Mortgagee may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Mortgaged Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Mortgagee's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Mortgagee or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Mortgagor in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Mortgagee is hereby appointed the true and lawful attorney-in-fact of Mortgagor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Mortgagor's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Mortgagor hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Mortgagor, if requested by Mortgagee, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Mortgagee or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Mortgagee's judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection 24(e)(iii) above given by Mortgagee shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (dv) Lender Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Mortgagor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Mortgagor and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Mortgagor to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Mortgagee may bid for and acquire the Mortgaged Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender Mortgagee is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, Lender it shall deliver not be necessary for Mortgagee or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleMortgaged Property.

Appears in 3 contracts

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ramco Gershenson Properties Trust), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ramco Gershenson Properties Trust), Mortgage (Ramco Gershenson Properties Trust)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of Subsection 10.1(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure : (i) Trustee or otherwise: (a) Lender may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Lender’s opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Lender, Trustee or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Borrower in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Each of Trustee and Xxxxxx is hereby appointed the true and lawful attorney-in-fact of Xxxxxxxx, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Xxxxxxxx’s name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Borrower hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Borrower, if requested by Trustee or Lender, shall ratify and confirm any such sale may occuror sales by executing and delivering to Trustee, without further notice, at the time fixed by the last postponement Lender or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Trustee’s or Xxxxxx’s judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection 10.1(e)(iii) given by Trustee or Lender shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (dv) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Borrower to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Trustee or Lender is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, it shall not be necessary for Trustee, Lender shall deliver or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleProperty.

Appears in 2 contracts

Samples: Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.), Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of subsection 23(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (ai) Lender may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Lender’s opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Lender or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Borrower in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Lender is hereby appointed the true and lawful attorney-in-fact of Borrower, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Borrower’s name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Borrower hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Borrower, if requested by Lender, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Lender or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Lender’s judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in subsection 23(e)(iii) above given by Lender shall be taken as conclusive and binding against all persons as evidence of the truth of the facts so stated and recited. (dv) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Borrower to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, it shall not be necessary for Lender shall deliver or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleProperty.

Appears in 2 contracts

Samples: Deed of Trust and Security Agreement (Infousa Inc), Deed of Trust and Security Agreement (Infousa Inc)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender or Trustee may determine in its or their sole discretion, apply to any sales of the Property under Article VI, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender or Trustee may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in its entirety or any other manner consistent with applicable Laws as Lender deems in its best interests and each of Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender or Trustee is authorized to deduct under the provisions of the Documents. After any such sale, Lender Trustee shall deliver to the purchaser at such sale a the Trustee’s deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower Borrower, Trustee or Lender, may purchase at such sale.

Appears in 2 contracts

Samples: Deed of Trust, Security Agreement and Fixture Filing, Deed of Trust, Security Agreement and Fixture Filing (Saul Centers Inc)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the The following provisions shall, as Lender may determine in its sole discretionto the extent permitted by law, apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of this Security Instrument, whether by judicial proceeding, judgment, decree, under any power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (a) Lender may Trustee (for purposes of this Section 7.12 only, the term “Trustee” shall be interpreted to include any public officer or other person having the responsibility to conduct a single any sale of all or part of the Property pursuant to this Security Instrument) may conduct any number of sales from time to time. The power of sale shall not be exhausted by any one or multiple more of such sales of as to any part of the Property that has not been sold or by any sale that is not completed or is defective until the Debt has been paid in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; full. (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or sale, and such sale may occur, be completed at the time and place so announced without further notice. (c) Lender is hereby appointed the true and lawful attorney-in-fact of Borrower, at which appointment is irrevocable and shall be deemed to be coupled with an interest, in Borrower’s name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the time fixed Property and rights so sold, and for that purpose Lender may execute all necessary instruments to accomplish the same, and may substitute one or more persons with like power, and Borrower hereby ratifies and confirms all that said attorney or such substitute or substitutes shall lawfully do by the last postponement virtue thereof. Nevertheless, Borrower, if requested by Lender, shall ratify and confirm any such sale or a new notice of sale sales by executing and delivering to Lender or such purchaser or purchasers, as applicable, all such instruments as may be given; and advisable, in Lender’s judgment, for the purposes designated in such request. (d) Any and all statements of fact or other recitals made in any of the instruments referred to in Section 7.12(c) given by Lender concerning nonpayment of the Debt, occurrence of any Event of Default, any declaration by Lender that all or any of the Debt is due and payable, any request to sell, any representation that notice of time, place and terms of sale and property or rights to be sold was duly given, or that any other act or thing was duly done by Lender, shall be taken as prima facie evidence of the truth of the facts so stated and recited. (e) The receipt by Trustee of the purchase money paid at any such sale, or the receipt of any other person authorized to give the same, shall be sufficient discharge therefor to any purchaser of any property or rights sold as aforesaid, and no purchaser, or its representatives, grantees or assigns, after paying such purchase price and receiving such receipt, shall be bound to see to the application of such purchase price or any part thereof upon or for any trust or purpose of this Security Instrument or, in any manner whatsoever, be answerable for any loss, misapplication or non-application of any such purchase money, or part thereof, or be bound to inquire as to the authorization, necessity, expediency or regularity of any such sale. (f) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof, by, through or under Borrower to the fullest extent permitted by applicable law. (g) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder and any other sums which that Lender is authorized to deduct charge to Borrower under the provisions terms of the Documents. After Note, this Security Instrument, or any other Loan Document to the extent necessary to satisfy such bid. (h) If Borrower, or any person claiming by, through or under Borrower, shall transfer or refuse or fail to surrender possession of the Property after any sale thereof, then Borrower or such person shall be deemed a tenant at sufferance of the purchaser at such sale, subject to eviction by means of unlawful detainer proceedings or other appropriate proceedings, and to any other right or remedy available hereunder or under applicable law. (i) Upon any such sale, it shall not be necessary for Trustee, Lender or any public officer acting under execution or order of court to have present or constructively in its possession any or all of the Property. (j) In the event of any sale referred to in this Section 7.12, the entire Debt, if not previously due and payable, immediately thereupon shall, notwithstanding anything to the contrary in the Note, this Security Instrument or any other Loan Document, become due and payable. (k) This instrument shall be effective as a mortgage as well as a deed of trust. If a sale hereunder shall be commenced by Trustee, Lender may, at any time before the sale of the Property, direct the Trustee to abandon the sale, and may institute suit for the collection of the Debt or part thereof and for the foreclosure of this Security Instrument. If Lender shall deliver to institute suit for the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof collection of the truthfulness Debt or part thereof, and for the foreclosure of this Security Instrument, Lender may at any time before the entry of final judgment in said suit dismiss the same (or part thereof) and direct the Trustee to sell the Property in accordance with the provisions of this Security Instrument. Any PersonLender may pursue its rights and remedies against any guarantor or other party liable for any of the obligations in such a suit for foreclosure or by separate suit, including Borrower whether or Lender, may purchase at such salenot the Trustee is also pursuing a sale under the terms hereof.

Appears in 2 contracts

Samples: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, Deed of Trust (TNP Strategic Retail Trust, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Mortgaged Property under Article VIor by virtue of Subsection (d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (ai) Lender Mortgagee may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Mortgaged Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Mortgagee's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Mortgagee or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Mortgagor in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Mortgagee is hereby appointed the true and lawful attorney-in-fact of Mortgagor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Mortgagor's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Mortgagor hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Mortgagor, if requested by Mortgagee, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Mortgagee or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Mortgagee's judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection (de)(iii) Lender above given by Mortgagee shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (v) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Mortgagor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Mortgagor and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Mortgagor to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Mortgagee may bid for and acquire the Mortgaged Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender Mortgagee is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, Lender it shall deliver not be necessary for Mortgagee or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleMortgaged Property.

Appears in 2 contracts

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Kranzco Realty Trust), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ramco Gershenson Properties Trust)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of Subsection 10.1(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (ai) Lender may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Lender’s opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Lender or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Borrower in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Lender is hereby appointed the true and lawful attorney-in-fact of Borrower, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Borrower’s name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Borrower hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Borrower, if requested by Lender, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Lender or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Lender’s judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection 10.1(e)(iii) given by Lender shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (dv) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Borrower to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, it shall not be necessary for Lender shall deliver or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleProperty.

Appears in 2 contracts

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement, and Fixture Filing (Reading International Inc), Mortgage and Security Agreement (Gladstone Commercial Corp)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the The following provisions shall, as Lender may determine in its sole discretionto the extent permitted by law, apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of this Security Instrument, whether by judicial proceeding, judgment, decree, under any power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (a) Lender may Trustee (for purposes of this Section 7.12 only, the term “Trustee” shall be interpreted to include any public officer or other person having the responsibility to conduct a single any sale of all or part of the Property pursuant to this Security Instrument) may conduct any number of sales from time to time. The power of sale shall not be exhausted by any one or multiple more of such sales of as to any part of the Property that has not been sold or by any sale that is not completed or is defective until the Debt has been paid in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; full. (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or sale, and such sale may occur, be completed at the time and place so announced without further notice. (c) Xxxxxx is hereby appointed the true and lawful attorney-in-fact of Xxxxxxxx, at which appointment is irrevocable and shall be deemed to be coupled with an interest, in Xxxxxxxx’s name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the time fixed Property and rights so sold, and for that purpose Xxxxxx may execute all necessary instruments to accomplish the same, and may substitute one or more persons with like power, and Borrower hereby ratifies and confirms all that said attorney or such substitute or substitutes shall lawfully do by the last postponement virtue thereof. Nevertheless, Borrower, if requested by Lender, shall ratify and confirm any such sale or a new notice of sale sales by executing and delivering to Lender or such purchaser or purchasers, as applicable, all such instruments as may be given; and advisable, in Xxxxxx’s judgment, for the purposes designated in such request. (d) Any and all statements of fact or other recitals made in any of the instruments referred to in Section 7.12(c) given by Xxxxxx concerning nonpayment of the Debt, occurrence of any Event of Default, any declaration by Xxxxxx that all or any of the Debt is due and payable, any request to sell, any representation that notice of time, place and terms of sale and property or rights to be sold was duly given, or that any other act or thing was duly done by Lender, shall be taken as prima facie evidence of the truth of the facts so stated and recited. (e) The receipt by Trustee of the purchase money paid at any such sale, or the receipt of any other person authorized to give the same, shall be sufficient discharge therefor to any purchaser of any property or rights sold as aforesaid, and no purchaser, or its representatives, grantees or assigns, after paying such purchase price and receiving such receipt, shall be bound to see to the application of such purchase price or any part thereof upon or for any trust or purpose of this Security Instrument or, in any manner whatsoever, be answerable for any loss, misapplication or non-application of any such purchase money, or part thereof, or be bound to inquire as to the authorization, necessity, expediency or regularity of any such sale. (f) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof, by, through or under Borrower to the fullest extent permitted by applicable law. (g) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder and any other sums which that Lender is authorized to deduct charge to Borrower under the provisions terms of the Documents. After Note, this Security Instrument, or any other Loan Document to the extent necessary to satisfy such bid. (h) If Borrower, or any person claiming by, through or under Borrower, shall transfer or refuse or fail to surrender possession of the Property after any sale thereof, then Borrower or such person shall be deemed a tenant at sufferance of the purchaser at such sale, subject to eviction by means of unlawful detainer proceedings or other appropriate proceedings, and to any other right or remedy available hereunder or under applicable law. (i) Upon any such sale, it shall not be necessary for Trustee, Lender shall deliver or any public officer acting under execution or order of court to have present or constructively in its possession any or all of the Property. (j) In the event of any sale referred to in this Section 7.12, the entire Debt, if not previously due and payable, immediately thereupon shall, notwithstanding anything to the purchaser at such sale a deed conveying contrary in the property so soldNote, but without this Security Instrument or any covenant or warrantyother Loan Document, express or implied. The recitals in any such deed of any matters or facts become due and payable. (k) This instrument shall be conclusive proof effective as a mortgage. If a sale hereunder shall be commenced by Trustee, Lender may, at any time before the sale of the truthfulness Property, direct the Trustee to abandon the sale, and may institute suit for the collection of the Debt or part thereof and for the foreclosure of this Security Instrument. If Xxxxxx shall institute suit for the collection of the Debt or part thereof, and for the foreclosure of this Security Instrument, Lender may at any time before the entry of final judgment in said suit dismiss the same (or part thereof) and direct the Trustee to sell the Property in accordance with the provisions of this Security Instrument. Any PersonLender may pursue its rights and remedies against any guarantor or other party liable for any of the obligations in such a suit for foreclosure or by separate suit, including Borrower whether or Lender, may purchase at such salenot the Trustee is also pursuing a sale under the terms hereof.

Appears in 2 contracts

Samples: Deed of Trust (TNP Strategic Retail Trust, Inc.), Deed of Trust (TNP Strategic Retail Trust, Inc.)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under this Article VIIII, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in its entirety or any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice; or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. After any such sale, Lender shall deliver to the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Personperson, including Borrower or Lender, may purchase at such sale.

Appears in 2 contracts

Samples: Open End Mortgage and Security Agreement (Piedmont Office Realty Trust, Inc.), Mortgage and Security Agreement (CNL Healthcare Properties, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Mortgaged Property under Article VIor by virtue of Subsection (d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (ai) Lender Mortgagee may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Mortgaged Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Mortgagee's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Mortgagee or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Mortgagor in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Loan Agreement. Mortgagee is hereby appointed the true and lawful attorney-in-fact of Mortgagor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Mortgagor's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Mortgagor hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Mortgagor, if requested by Mortgagee, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Mortgagee or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Mortgagee's judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection (de)(iii) Lender above given by Mortgagee shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (v) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Mortgagor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Mortgagor and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Mortgagor to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Mortgagee may bid for and acquire the Mortgaged Property and, in lieu of paying cashcash therefor, may pay make a settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender Mortgagee is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, Lender it shall deliver not be necessary for Mortgagee or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleMortgaged Property.

Appears in 2 contracts

Samples: Open End Leasehold Mortgage (HRPT Properties Trust), Open End Leasehold Mortgage (HRPT Properties Trust)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of Subsection 10.1(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (ai) Lender may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Lender's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Lender or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Borrower in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Lender is hereby appointed the true and lawful attorney-in-fact of Borrower, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Borrower's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Borrower hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Borrower, if requested by Lender, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Lender or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Lender's judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection 10.1(e)(iii) given by Lender shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (dv) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Borrower to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, it shall not be necessary for Lender shall deliver or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleProperty.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Fairchild Corp)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender or Trustee may determine in its or their sole discretion, apply to any sales of the Property under this Article VI, whether by judicial proceedingProceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender or Trustee may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in any other manner as Lender deems in its best interests interest and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interestsinterest, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender or Trustee is authorized to deduct under the provisions of the Loan Documents. After any such sale, Lender Trustee shall deliver to the purchaser at such sale a the trustee’s deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals implied in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereofcustomary form. Any Person, including Borrower or Lender, may purchase at such sale.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Phillips Edison Grocery Center Reit I, Inc.)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender or Trustee may determine in its or their sole discretion, apply to any sales of the Property under Article VI, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender or Trustee may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; sale (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender or Trustee is authorized to deduct under the provisions of the Documents. After any such sale, Lender Trustee shall deliver to the purchaser at such sale a the Trustee’s deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower Borrower, Trustee or Lender, may purchase at such sale.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (CNL Income Properties Inc)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of subsection (b) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure : (i) Trustee or otherwise: (a) Lender Agent may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Agent opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Agent, Trustee or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Individual Borrower in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Upon the occurrence and during the continuance of an Event of Default, each of Trustee and Agent is hereby appointed the true and lawful attorney-in-fact of Individual Borrower, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Individual Borrower’s name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Individual Borrower hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Individual Borrower, if requested by Trustee or Agent, shall ratify and confirm any such sale may occuror sales by executing and delivering to Trustee, without further notice, at the time fixed by the last postponement Agent or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Trustee’s or Agent’s reasonable judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection (diii) Lender above given by Trustee or Agent shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (v) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Individual Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Individual Borrower and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Individual Borrower to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Agent may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender Trustee or Agent is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, Lender it shall deliver not be necessary for Trustee, Agent or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleProperty.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Excel Trust, L.P.)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under this Article VIIII, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in its entirety or any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice; or such sale may occur, without further notice, at the time fixed by the last 6 postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. After any such sale, Lender shall deliver to the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Personperson, including Borrower or Lender, may purchase at such sale.

Appears in 1 contract

Samples: Open End Mortgage and Security Agreement

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of Subsection 10.1(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: (a) : i. Lender may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Lender's opinion, until the Debt shall pay the costs and expenses of each such sale; (c) any have been paid in full. ii. Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. iii. After each sale, Lender or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Borrower in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note and the Future Advance Note. Lender is hereby appointed the true and lawful attorney-in-fact of Borrower, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Borrower's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Borrower hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Borrower, if requested by Lender, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Lender or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Lender's judgment, for the purposes as may be designated in such request. iv. Any and (dall statements of fact or other recitals made in any of the instruments referred to in Subsection 10.1(e)(iii) given by Lender shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. v. Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Borrower to the fullest extent permitted by applicable law. vi. Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender is authorized to deduct under the provisions of terms hereof, to the Documentsextent necessary to satisfy such bid. vii. After Upon any such sale, it shall not be necessary for Lender shall deliver or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleProperty.

Appears in 1 contract

Samples: Open End Mortgage and Security Agreement (First Union Real Estate Equity & Mortgage Investments)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of Subsection 10.1(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure : (i) Trustee or otherwise: (a) Lender may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Lender's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Lender, Trustee or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Borrower in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Each of Trustee and Lender is hereby appointed the true and lawful attorney-in-fact of Borrower, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Borrower's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Borrower hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Borrower, if requested by Trustee or Lender, shall ratify and confirm any such sale may occuror, without further noticesales by executing and delivering to Trustee, at the time fixed by the last postponement Lender or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Trustee's or Lender's judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection 10.1(e)(iii) given by Trustee or Lender shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (dv) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Borrower to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums XXXXXX GUARANTY TRUST COMPANY which Trustee or Lender is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, it shall not be necessary for Trustee, Lender shall deliver or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleProperty.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (First Potomac Realty Trust)

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Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender or Trustee may determine in its or their sole discretion, apply to any sales of the Property under Article VI, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender or Trustee may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; sale (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender or Trustee is authorized to deduct under the provisions of the Documents. After any such sale, Lender Trustee shall deliver to the purchaser at such sale a the Trustee’s deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof prima facie evidence of the truthfulness thereof. Any Person, including Borrower Borrower, Trustee or Lender, may purchase at such sale.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Hines Real Estate Investment Trust Inc)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under Article VI, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (ai) Lender may conduct a single adjourn from time to time any sale of the Property or multiple sales of any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously made under or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien by virtue of this Instrument on any part Deed of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned Trust by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale sale. Except as otherwise provided by any applicable law, Lender, without further notice or publication, may make such sale may occur, without further notice, at the time fixed and place to which the same shall be so adjourned. (ii) Upon the completion of any sale made by Trustee under or by virtue of this Section 22, Trustee shall execute and deliver to any accepted purchaser good and sufficient instruments granting, conveying, assigning and transferring all estate, right, title and interest in and to the last postponement Mortgaged Property sold without any covenant or a new notice warranty whatsoever express or implied, as require by applicable law. (iii) In the event of any sale may be given; made pursuant to this Section 22, the entire Debt immediately thereupon shall become due and payable, anything in the Loan Documents to the contrary notwithstanding. (div) Upon any sale made pursuant to this Section 22, Lender may bid for and acquire all or any portion of the Property and, in Mortgaged Property. In lieu of paying cashcash therefor, Lender or Trustee may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bid, net sales price after deducting therefrom any sums which Lender is authorized to deduct under the provisions expenses of the Documents. After any such sale, Lender shall deliver to sale and the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof costs of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleaction.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement and Fixture Filing (NNN 2003 Value Fund LLC)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under this Article VIIII, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice; or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. After any such sale, Lender shall deliver to the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive presumptive proof of the truthfulness thereof. Any Personperson, including Borrower or Lender, may purchase at such sale.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (CNL Healthcare Trust, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of Subsection 10.1(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure : JPMORGAN CHASE BANK (i) Trustee or otherwise: (a) Lender may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Lender's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or notice. (iii) Trustee shall deliver to the purchaser Trustee's deed conveying the Property so sold with special warranty of title. The recitals in Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and expenses of the sale, including, but not limited to, Trustee's fees of 2% of the gross sale price, attorney's fees and costs of title evidence; (b) to the discharge of all taxes, levies and assessments on the Property, if any, as provided by applicable law; (c) to all sums secured by this Instrument in such sale may occurorder as Lender, without further noticein Lender's sole discretion, at the time fixed by the last postponement or a new notice of sale may be givendirects; and (d) the excess, if any, to the person or persons legally entitled thereto, including, if any, holders of liens inferior to this Instrument in order of their priority, provided that Trustee has actual notice of such liens. Trustee shall not be required to take possession of the Property prior to the sale thereof or to deliver possession of the Property to the purchaser at such sale. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection 10.1(e)(iii) given by Trustee or Lender shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (v) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Borrower in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Borrower and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Borrower to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Lender may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Trustee or Lender is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, it shall not be necessary for Trustee, Lender shall deliver or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereofProperty. Any Person, including Borrower or Lender, may purchase at such sale.JPMORGAN CHASE BANK

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (First Potomac Realty Trust)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under this Article VIIII, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender may conduct a single sale of the Property or multiple sales of any part Prudential Loan No. 706109202 CNL MOB Portfolio Mortgage and Security Agreement (Doctors Specialty Hospital - First) of the Property in separate tracts or in its entirety or any other manner consistent with applicable Laws as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice; or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. After any such sale, Lender shall deliver to the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Personperson, including Borrower or Lender, may purchase at such sale.

Appears in 1 contract

Samples: Mortgage and Security Agreement (CNL Healthcare Properties, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements -------------------------- of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Mortgaged Property under Article VIor by virtue of Subsection (d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure : (i) Trustee or otherwise: (a) Lender Beneficiary may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Mortgaged Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Beneficiary's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Trustee, Beneficiary or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Trustor in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Loan Agreement. Each of Trustee and Beneficiary is hereby appointed the true and lawful attorney-in-fact of Trustor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Trustor's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Trustor hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Trustor, if requested by Beneficiary or Trustee, shall ratify and confirm any such sale may occuror sales by executing and delivering to Beneficiary, without further notice, at the time fixed by the last postponement Trustee or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Beneficiary's or Trustee's judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in Subsection (de)(iii) Lender above given by Beneficiary shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (v) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Trustor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Trustor and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Trustor to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Beneficiary may bid for and acquire the Mortgaged Property and, in lieu of paying cashcash therefor, may pay make a settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender Beneficiary or Trustee is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, Lender it shall deliver not be necessary for Beneficiary or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleMortgaged Property.

Appears in 1 contract

Samples: Deed of Trust (Ventas Inc)

Rights Pertaining to Sales. To Subject to the extent permitted under (and in accordance with) any Lawsprovisions or other requirements of law, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of the Property Collateral under or by virtue of this Article VI, whether made by virtue of judicial proceeding, judgment, decree, power proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (a) Lender Secured Party may conduct a single sale any number of sales from time to time of all or portions of the Property Collateral and as an entirety or multiple sales of any part of the Property in separate tracts or units (regardless of the manner in any other manner as Lender deems in its best interests which the Collateral is classified), and Borrower Debtor hereby waives any right which it may have to require otherwise; the Collateral (or any part thereof) to be sold as separate tracts or units in the event of foreclosure or sale. (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and . (dc) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. After any such each sale, Lender Secured Party, or an officer of any court empowered to do so, shall execute and deliver to the purchaser or purchasers at such sale a deed conveying good and sufficient instrument or instruments granting, conveying, assigning, and transferring all right, title, and interest of Debtor (including all rights of redemption) in and to the property so sold, and rights sold (but without any covenant or warranty, express or implied), and shall receive the proceeds of said sale or sales and apply the same as herein provided. The Secured Party is hereby appointed the true and lawful attorney-in-fact of Debtor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Debtor's name and stead, to make all necessary conveyances, assignments, transfers, and deliveries of the property and rights so sold, and for that purpose Secured Party may execute all necessary instruments of conveyance, assignment, transfer, and delivery, and may substitute one or more persons with like power, Debtor hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Debtor, if requested by Secured Party, shall ratify and confirm any such sale or sales by executing and delivering to Secured Party or such purchaser or purchasers all such instruments as may be advisable, in Secured Party's judgment, for the purposes as may be designated in such request. (d) Any and all statements of fact or other recitals made in any such deed of the instruments referred to in subsection (c) of this Section given by Secured Party as to nonpayment of the Obligations, or as to the occurrence of any matters Event of Default, or facts as to Secured Party having declared all or any of the Obligations to be due and payable, or as to the request to sell, or as to notice of time, place, and terms of sale and of the property or rights to be sold having been duly given, or as to the refusal, failure, or inability to act of Secured Party, or as to the appointment of any substitute or successor Secured Party, or as to any other act or thing having been duly done by Debtor, Secured Party, or by such substitute or successor Secured Party, shall be taken as conclusive proof and binding against all persons as to evidence of the truthfulness thereoftruth of the facts so stated and recited. Any PersonSecured Party may appoint or delegate any one or more persons as agent to perform any act or acts necessary or incident to any sale so held, including Borrower the posting of notices and the conduct of sale, but in the name and on behalf of Secured Party. (e) The receipt of Secured Party for the purchase money paid at any such sale, or Lenderthe receipt of any other person authorized to receive the same, shall be sufficient discharge therefor to any purchaser of any property or rights sold as aforesaid, and no such purchaser, or its representatives, grantees, or assigns, after paying such purchase price and receiving such receipt, shall be bound to see to the application of such purchase price, or any part thereof, upon or for any trust or purpose of this Instrument or, in any manner whatsoever, be answerable for any loss, misapplication, or non-application of any such purchase money, or part thereof, or be bound to inquire as to the authorization, necessity, expediency, or regularity of any such sale. (f) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim, and demand whatsoever, whether at law or in equity, of Debtor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Debtor, and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Debtor to the fullest extent permitted by applicable law. (g) Upon any such sale or sales, Secured Party may bid for and acquire the Collateral and, in lieu of paying cash therefor, may make settlement for the purchase price by crediting against the Obligations the amount of the bid made therefor, after deducting therefrom the expenses of the sale (including reasonable attorneys' fees), the cost of any enforcement proceeding hereunder, and any other sums which Secured Party is authorized to deduct under the terms hereof, to the extent necessary to satisfy such bid. (h) In the event that Debtor, or any person claiming by, through, or under Debtor, shall transfer or refuse or fail to surrender possession of the Collateral after any sale thereof, then Debtor or such person shall be deemed a tenant at sufferance of the purchaser at such sale, subject to eviction by means of forcible entry and detainer proceedings, or subject to any other right or remedy available hereunder or under applicable law. (i) Upon any such sale, it shall not be necessary for Secured Party or any public officer acting under execution or order of court to have present at the sale or constructively in its possession any of the Collateral. (j) In the event a foreclosure hereunder shall be commenced by Secured Party, Secured Party may, at any time before the sale of the Collateral, abandon the sale and may institute suit for the collection of the Obligations and for the foreclosure of this Instrument, or in the event that Secured Party should institute a suit for collection of the Obligations and for the foreclosure of this Instrument, Secured Party may, at any time before the entry of final judgment in said suit, dismiss the same and sell the Collateral in accordance with the provisions of this Instrument.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Usf&g Legg Mason Realty Partners Limited Partnership)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under this Article VIIII, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in its entirety or any other manner consistent with applicable Laws as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice; or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. After any such sale, Lender shall deliver to the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Personperson, including Borrower or Lender, may purchase at such sale.

Appears in 1 contract

Samples: Mortgage and Security Agreement (CNL Healthcare Properties, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (and in accordance with) any Lawsprovisions or other requirements of law, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of the Mortgaged Property under or by virtue of this Article VI, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (a) Lender Mortgagee may conduct a single any number of sales from time to time. The power of sale of the Property set forth in Section 6.02( c) hereof shall not be exhausted by anyone or multiple more such sales of as to any part of the Mortgaged Property which shall not have been sold, nor by any sale which is not completed or is defective in separate tracts or Mortgagee's opinion, until the Obligations shall have been paid in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; full. (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (c) After each sale, Mortgagee, or an officer of any court empowered to do so, shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Mortgagor in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as herein provided. Mortgagee, is hereby appointed the true and lawful attorney-in-fact of Mortgagor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Mortgagor's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, and for that purpose Mortgagee may execute all necessary instruments of conveyance, assignment, transfer and delivery, and may substitute one or more persons with like power, Mortgagor hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Mortgagor, if requested by Mortgagee, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Mortgagee or a new notice of sale such purchaser or purchasers all such instruments as may be given; and advisable, in Mortgagee's judgment, for the purposes as may be designated in such request. (d) Lender Any and all statements of fact or other recitals made in any of the instruments referred to in subsection (c) of this Section given by Mortgagee as to nonpayment of the obligations, or as to the occurrence of any Event of Default, or as to Mortgagee having declared all or any of the Obligations to be due and payable, or as to the request to sell, or as to notice of time, place and terms of sale and of the property or rights to be sold having been duly given, or as to the refusal, failure or inability to act of Mortgagee, or as to the appointment of any substitute or successor Mortgagee, or as to any other act or thing having been duly done by Mortgagor, Mortgagee, or by such Mortgagee, shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. Mortgagee may appoint or delegate anyone or more persons as agent to perform any act or acts necessary or incident to any sale so held, including the posting of notices and the conduct of sale, but in the name and on behalf of Mortgagee. (e) The receipt of Mortgagee for the purchase money paid at any such sale, or the receipt of any other person authorized to receive the same, shall be sufficient discharge therefor to any purchaser of any property or rights sold as aforesaid, and no such purchaser, or its representatives, grantees or assigns, after paying such purchase price and receiving such receipt, shall be bound to see to the application of such purchase price or any part thereof upon or for any trust or purchaser of this Mortgage or, in any manner whatsoever, be answerable for any loss, misapplication or nonapplication of any such purchase money, or part thereof, or be bound to inquire as to the authorization, necessity, expediency or regularity of any such sale. (f) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Mortgagor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Mortgagor and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Mortgagor to the fullest extent permitted by applicable law. (g) Upon any such sale or sales, Mortgagee may bid for and acquire the Mortgaged Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder and any other sums which Lender Mortgagee is authorized to deduct under the provisions terms hereof, to the extent necessary to satisfy such bid. (h) In the event that Mortgagor, or any person claiming by, through or under Mortgagor, shall transfer or refuse or fail to surrender possession of the Documents. After Mortgaged Property after any sale thereof, then Mortgagor, or such person shall be deemed a tenant at sufferance of the purchaser at such sale, subject to eviction by means of forcible entry and detainer proceedings, or subject to any other right or remedy available hereunder or under applicable law. (i) Upon any such sale, Lender it shall deliver not be necessary for Mortgagee or any public officer acting under execution or order of court to have present or constructively in its possession any of the Mortgaged Property. (j) In the event of any sale referred to in this Section, the entire unpaid balance of the Obligations, if not previously due and payable, immediately thereupon shall, notwithstanding anything to the purchaser at such sale contrary herein or in the other Loan Documents, become due and payable. (k) In the event a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts foreclosure hereunder shall be conclusive proof commenced by Mortgagee, Mortgagee may at any time before the sale of the truthfulness thereof. Any PersonMortgaged Property abandon the sale, including Borrower and may institute suit of this Mortgage, or Lenderin the event that Mortgagee should institute a suit for collection of the obligations, and for the foreclosure of this Mortgage, Mortgagee may purchase at such saleany time before the entry of final judgment in said suit dismiss the same and sell the Mortgaged Property in accordance with the provisions of this Mortgage.

Appears in 1 contract

Samples: Collateral Agency Agreement

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the following provisions shall, as Lender may determine in its sole discretion, apply to any sales of the Property under this Article VIIII, whether by judicial proceeding, judgment, decree, power of sale, foreclosure or otherwise: (a) Lender may conduct a single sale of the Property or multiple sales of any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice; or such sale may occur, without further notice, at the time fixed by the last postponement or a new notice of sale may be given; and (d) Lender may acquire the Property and, in lieu of paying cash, may pay by crediting against the Obligations the amount of its bid, after deducting therefrom any sums which Lender is authorized to deduct under the provisions of the Documents. After any such sale, Lender shall deliver to the purchaser at such sale a deed conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Personperson, including Borrower or Lender, may purchase at such sale.

Appears in 1 contract

Samples: Mortgage and Security Agreement (CNL Healthcare Properties, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Property under Article VIor by virtue of subsection 24(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure or otherwise: : (ai) Lender Grantee may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Grantee’s opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Grantee or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Grantor in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Grantee is hereby appointed the true and lawful attorney-in-fact of Grantor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Grantor’s name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Grantor hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Grantor, if requested by Grantee, shall ratify and confirm any such sale may occur, without further notice, at the time fixed or sales by the last postponement executing and delivering to Grantee or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Grantee’s judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in subsection 24(e)(iii) above given by Grantee shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (dv) Lender Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Grantor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Grantor and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Grantor to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Grantee may bid for and acquire the Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender Grantee is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, Lender it shall deliver not be necessary for Grantee or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleProperty.

Appears in 1 contract

Samples: Deed to Secure Debt, Assignment of Leases and Rents and Security Agreement (KBS Strategic Opportunity REIT, Inc.)

Rights Pertaining to Sales. To Subject to the extent permitted under (requirements of applicable law and in accordance with) any Lawsexcept as otherwise provided herein, the following provisions shall, as Lender may determine in its sole discretion, shall apply to any sale or sales of all or any portion of the Mortgaged Property under Article VIor by virtue of subsection 24(d) above, whether by judicial proceeding, judgment, decree, made under the power of sale herein granted or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, foreclosure : (i) Trustee or otherwise: (a) Lender Mortgagee may conduct a single any number of sales from time to time. The power of sale of the Property set forth above shall not be exhausted by any one or multiple more such sales of as to any part of the Mortgaged Property in separate tracts or in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale which shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then have been sold, and Borrower nor by any sale which is not completed or is defective in Mortgagee's opinion, until the Debt shall pay the costs and expenses of each such sale; have been paid in full. (cii) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (iii) After each sale, Mortgagee, Trustee or an officer of any court empowered to do so shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of Xxxxxxxxx in and to the property and rights sold and shall receive the proceeds of said sale or sales and apply the same as specified in the Note. Each of Trustee and Mortgagee is hereby appointed the true and lawful attorney-in-fact of Xxxxxxxxx, which appointment is irrevocable and shall be deemed to be coupled with an interest, in Xxxxxxxxx's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, Xxxxxxxxx hereby ratifying and confirming all that said attorney or such substitute or substitutes shall lawfully do by virtue thereof. Nevertheless, Mortgagor, if requested by Trustee or Mortgagee, shall ratify and confirm any such sale may occuror sales by executing and delivering to Trustee, without further notice, at the time fixed by the last postponement Mortgagee or a new notice of sale such purchaser or purchasers all such instruments as may be given; advisable, in Trustee's or Mortgagee's judgment, for the purposes as may be designated in such request. (iv) Any and all statements of fact or other recitals made in any of the instruments referred to in subsection 24(e)(iii) above given by Trustee or Mortgagee shall be taken as conclusive and binding against all persons as to evidence of the truth of the facts so stated and recited. (dv) Lender Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of Mortgagor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Mortgagor and any and all persons claiming or who may claim the same, or any part thereof or any interest therein, by, through or under Mortgagor to the fullest extent permitted by applicable law. (vi) Upon any such sale or sales, Mortgagee may bid for and acquire the Mortgaged Property and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting against the Obligations Debt the amount of its bidthe bid made therefor, after deducting therefrom the expenses of the sale, the cost of any enforcement proceeding hereunder, and any other sums which Lender Trustee or Mortgagee is authorized to deduct under the provisions of terms hereof, to the Documents. After extent necessary to satisfy such bid. (vii) Upon any such sale, Lender it shall deliver not be necessary for Trustee, Mortgagee or any public officer acting under execution or order of court to the purchaser at such sale a deed conveying the property so sold, but without have present or constructively in its possession any covenant or warranty, express or implied. The recitals in any such deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such saleMortgaged Property.

Appears in 1 contract

Samples: Deed of Trust (First Potomac Realty Trust)

Rights Pertaining to Sales. To the extent permitted under (and in accordance with) any Laws, the The following provisions shallshall apply, as Lender may determine in its sole discretionat the election of the Beneficiary, apply to any sale or sales of all or any portion of the Property under Article VIhereunder, whether by judicial proceeding, judgment, decree, made under the power of sale, sale granted hereunder or by virtue of any judicial proceeding or any judgment or decree of foreclosure or sale or otherwise: : (a) Lender The Beneficiary (or an agent appointed to act on behalf of the Beneficiary), the Trustee or the court officer (whichever is the Person conducting any sale) may conduct a single any number of sales from time to time. The power of sale of the Property set forth in Section 2.01 and Section 6.02 hereof shall not be exhausted by any one or multiple more such sales of as to any part of the Property which shall not have been sold, nor by any sale which is not completed or is defective in separate tracts the Trustee's or the Beneficiary's opinion, until the Obligations shall have been paid in any other manner as Lender deems in its best interests and Borrower waives any right to require otherwise; full. (b) if Lender elects more than one sale of the Property, Lender may at its option cause the same to be conducted simultaneously or successively, on the same day or on such different days or times and in such order as Lender may deem to be in its best interests, no such sale shall terminate or otherwise affect the lien of this Instrument on any part of the Property not then sold, and Borrower shall pay the costs and expenses of each such sale; (c) any Any sale may be postponed or adjourned by public announcement at the time and place appointed for such sale or for such postponed or adjourned sale without further notice notice. (c) After each sale, the Beneficiary, the Trustee or an officer of any court empowered to do so, shall execute and deliver to the purchaser or purchasers at such sale a good and sufficient instrument or instruments granting, conveying, assigning and transferring all right, title and interest of the Grantor in and to the Property sold and shall receive the proceeds of said sale or sales and apply the same as provided in Section 6.05. Each of the Beneficiary and the Trustee is hereby appointed the true and lawful attorney-in-fact of the Grantor, which appointment is irrevocable and shall be deemed to be coupled with an interest, in the Grantor's name and stead, to make all necessary conveyances, assignments, transfers and deliveries of the property and rights so sold, and for that purpose the Beneficiary or the Trustee may execute all necessary instruments of conveyance, assignment, transfer and delivery, and may substitute one or more Persons with like power, the Grantor hereby ratifying and confirming all that said attorney or such sale may occursubstitute or substitutes shall lawfully do by virtue thereof. Nevertheless, without further noticethe Grantor, at the time fixed if requested by the last postponement Trustee or a new notice of the Beneficiary, shall ratify and confirm any such sale or sales by executing and delivering to the Trustee or such purchaser or purchasers all such instruments as may be given; and advisable, in the Trustee's or the Beneficiary's judgment, for the purposes designated in such request. (d) Lender Any and all statements of fact or other recitals made in any of the instruments referred to in subsection (c) of this Section given by the Beneficiary or the Trustee as to nonpayment of the Obligations, or as to the occurrence of any Event of Default, or as to the Beneficiary having declared all or any of the Obligations to be due and payable, or as to the amount of the Obligations or as to the request to sell, or as to notice of time, place and terms of sale and of the property or rights to be sold having been duly given, or as to the refusal, failure or inability to act of the Trustee, or as to the appointment of any substitute or successor the Trustee, or as to any other act or thing having been duly done by the Beneficiary or by such the Trustee, shall be taken as conclusive and binding as against all other Persons as evidence of the truth of the facts so stated and recited. The Beneficiary or the Trustee may appoint or delegate any one or more Persons as agent to perform any act or acts necessary or incident to any sale so held, including the posting of notices and the conduct of sale, but in the name and on behalf of the Trustee. (e) The receipt of the Beneficiary or the Trustee for the purchase money paid at any such sale, or the receipt of any other Person authorized to give same, shall be sufficient discharge therefor to any purchaser of any property or rights sold as aforesaid, and no such purchaser, or its representatives, grantees or assigns, after paying such purchase price and receiving such receipt, shall be bound to see to the application of such purchase price or any part thereof upon or for any trust or purpose of this Deed of Trust or, in any manner whatsoever, be answerable for any loss, misapplication or nonapplication of any such purchase money, or part thereof, or be bound to inquire as to the authorization, necessity, expediency or regularity of any such sale. (f) Any such sale or sales shall operate to divest all of the estate, right, title, interest, claim and demand whatsoever, whether at law or in equity, of the Grantor in and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against the Grantor and any and all Persons claiming or who may claim the same, or any part thereof, by, through or under the Grantor to the fullest extent permitted by applicable law. (g) At any sale, the Beneficiary may bid for and acquire the Property sold and, in lieu of paying cashcash therefor, may pay make settlement for the purchase price by crediting causing the Secured Parties to credit against the Obligations Obligations, including the expenses of the sale and the cost of any enforcement proceeding hereunder, the amount of its the bid made therefor to the extent necessary to satisfy such bid. (h) If the Grantor or any Person claiming by, through or under the Grantor shall transfer or fail to surrender possession of the Property, after deducting therefrom any sums which Lender is authorized to deduct under the provisions exercise by the Beneficiary or the Trustee of the Documents. After remedies under Article VI or after any sale of the Property pursuant hereto, then the Grantor or such sale, Lender Person shall deliver to be deemed a tenant at sufferance of the purchaser at such sale, subject to eviction by means of summary process for possession of land, or subject to any other right or remedy available hereunder or under applicable law. (i) Upon any sale hereunder, it shall not be necessary for the Trustee, the Beneficiary or any public officer acting under execution or order of court to have present or constructively in its possession any or all of the Property. (j) In the event a deed conveying foreclosure hereunder shall be commenced by the property so soldTrustee, but the Trustee or the Beneficiary may, at any time before the sale of the Property, abandon or direct the Trustee to abandon the sale, and may institute suit for the collection of the Obligations and for the foreclosure of this Deed of Trust, or in the event that the Trustee or the Beneficiary should institute a suit for collection of the Obligations, or for the foreclosure of this Deed of Trust, the Beneficiary may at any time before the entry of final judgment in said suit dismiss the same and sell the Property in accordance with the provisions of this Deed of Trust. (k) The Beneficiary shall have no obligation to clean-up or otherwise prepare the Property for sale. (l) The Beneficiary may sell the Property without giving any covenant or warranty, express or impliedwarranties as to the Property. The recitals in Beneficiary may disclaim or modify any such deed warranties of any matters title or facts shall be conclusive proof of the truthfulness thereof. Any Person, including Borrower or Lender, may purchase at such salelike.

Appears in 1 contract

Samples: Credit Agreement (Sanders Morris Harris Group Inc)

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