Common use of Trustee’s Sale Clause in Contracts

Trustee’s Sale. When Grantor has defaulted, and Beneficiary has accelerated the time for payment of the Note as above provided, it shall be the duty of the Trustee, at the request of Beneficiary to enforce this Trust in the following manner, The Trustee shall advertise the time, place and terms of the sale of the Property or any part thereof for at least twenty-one (21) days preceding the day of sale by posting written or printed notices thereof at the courthouse door of the county where the Property, or any part thereof, is situated and which notice may be posted by the Trustee, or by any person acting for him and by filing a copy of such notice in the office of the County Clerk of the county in which the sale is made at least twenty-one (21) days preceding the date of sale; the Trustee shall then sell the Property or any part thereof in accordance with such notice at the courthouse door of the county in which the notice has been posted on the first Tuesday of any month between the hours of 10:00 o'clock a.m, and 4:00 o'clock p.m, to the highest bidder for cash, selling all or any portion of the Property, as an entirety, or in such parcels as the Trustee may elect, and the Trustee may make due conveyance to the purchaser, with general warranty binding the Grantor, its successors and assigns. Out of the proceeds of such sale, Trustee shall first pay all of the expenses of advertising the sale and making the conveyance, including a Trustee's commission or fee in a reasonable amount, which commission or fee shall be due and owing in addition to the attorney's fees provided for in the Note secured hereby. After payment of expenses and commissions, Beneficiary shall be paid the full amount of principal, interest, attorney's fees and other charges due and unpaid on the Note, with the balance of the proceeds of such sale, if any, to be paid by Grantor, its successors and assigns. The recitals in the conveyance to the purchaser shall be full and conclusive evidence of the truth of the matters therein stated, and all prerequisites to such sale shall be presumed to have been performed, and such sale and conveyance by the Trustee shall be conclusive against the Grantor, its successors and assigns. Beneficiary shall have the right to purchase at any sale of the Property or any part thereof if it is the highest bidder thereon and its shall have the right to have the amount for which the Property or any part thereof is sold credited on its indebtedness then owing. In the event a foreclosure hereunder should be commenced by the Trustee, Beneficiary, at any time before the sale of the Property or any part thereof, may direct Trustee to abandon the sale, and may then institute suit for the collection of the Note and for judicial foreclosure of this Deed of Trust lien. If such a suit should be instituted, Beneficiary, at any time before the entry of a final judgment in said suit, may dismiss the same and require Trustee to sell the Property in accordance with the provisions of this Deed of Trust in addition to the printed notice hereinabove provided for, Beneficiary, at least twenty-one (21) days preceding the date of sale, shall serve written notice of the proposed sale by certified mail on each debtor who, according to Beneficiary's records is obligated to pay the indebtedness secured by this Deed of Trust Notice shall be complete upon deposit of the notice, enclosed in a postpaid wrapper, addressed to such debtor at the most recent address as shown by Beneficiary's records, in a post office or official depository under the care and custody of the United States Postal Service.

Trustee’s Sale. When Grantor has defaulted(1) Upon the occurrence and during the continuance of an Event of Default under this Deed of Trust, the Credit Agreement, the Notes or any other Loan Document, then the Secured Obligations then remaining unpaid shall, at the option of the Beneficiary, become immediately due and payable regardless of maturity, without notice or demand, and Beneficiary has accelerated this Deed of Trust shall remain in force, and the time for payment Trustee shall, after receiving notice of the Note election and demand for sale from the Beneficiary, proceed to sell the Mortgaged Property as above providedone parcel in its entirety or any part thereof, it shall be either in mass or in parcels, at the duty absolute discretion of the Trustee, at public venue at the request of Beneficiary to enforce this Trust in the following manner, The Trustee shall advertise the time, place and terms door of the sale of the Property courthouse or any part thereof other location then customarily employed for at least twenty-one (21) days preceding the day of sale by posting written or printed notices thereof at the courthouse door of that purpose in the county where the Mortgaged Property is located, first making or causing to be made or given notice of the time and place of sale, and a description of the property to be sold, by advertisement published as provided by the laws of the State of Missouri then in effect, and upon sale, the Trustee shall execute and deliver a deed of conveyance of the property sold to the purchaser or purchasers thereof, and any statement or recital of fact in such deed, in relation to the non-payment of the money hereby secured to be paid, existence of the indebtedness so secured, notice of advertisement, sale and receipt of the proceeds of sale, shall be presumptive, evidence of the truth of such statements or recital, and the Trustee shall receive the proceeds of such sale out of which the Trustee shall dispose of the proceeds in accordance with this Deed of Trust. The Trustee may bid and become purchaser at any sale under this Deed of Trust. The power of sale hereunder shall not be exhausted by any one or more such sales (or attempts to sell) as to all or any portion of the Mortgaged Property remaining unsold, but shall continue unimpaired until all of the Mortgaged Property has been sold or the indebtedness of Grantor to the Beneficiary or the Lenders secured hereby shall have been paid in full. The Trustee may sell and convey the Mortgaged Property under the power aforesaid, although the Trustee has been, may now be or may hereafter be attorney or agent of the Beneficiary in respect to the loans and other financial accommodations made by Beneficiary and the Lenders evidenced by the Credit Agreement or this Deed of Trust or in respect to any matter of business whatsoever. The Trustee hereby lets the Mortgaged Property to the Grantor until a sale be had under the foregoing provisions during the continuance of an Event of Default, upon the following terms and conditions, such letting being to-wit: The Grantor and every and all persons claiming or possessing the Mortgaged Property, or any part thereof, is situated and which notice may be posted by the Trusteeby, through or by any person acting for him and by filing a copy of such notice in the office of the County Clerk of the county in which the sale is made at least twenty-one (21) days preceding the date of sale; the Trustee under Grantor shall then sell the Property or any part thereof in accordance with such notice pay rent therefor during said term at the courthouse door rate of the county in which the notice has been posted on the first Tuesday of any month between the hours of 10:00 o'clock a.mone cent per month, payable monthly upon demand, and 4:00 o'clock p.mshall surrender immediate peaceable possession of said Property, to the highest bidder for cashpurchaser thereof, selling all or any portion of the Property, as an entirety, or in such parcels as the Trustee may elect, and the Trustee may make due conveyance to the purchaser, with general warranty binding the Grantor, its successors and assigns. Out of the proceeds of under such sale, Trustee shall first pay all of the expenses of advertising the sale and making the conveyance, including a Trustee's commission without notice or fee in a reasonable amount, which commission or fee shall demand therefor. Should possession not be due and owing in addition to the attorney's fees surrendered as provided for in the Note secured hereby. After payment of expenses and commissionsherein, Beneficiary shall be paid the full amount of principal, interest, attorney's fees and other charges due and unpaid on the Note, with the balance of the proceeds of such sale, if any, to be paid by Grantor, its successors and assigns. The recitals in the conveyance to the purchaser shall be full and conclusive evidence of the truth of the matters therein stated, and all prerequisites entitled to such sale shall be presumed to have been performed, and such sale and conveyance by the Trustee shall be conclusive against the Grantor, its successors and assigns. Beneficiary shall have the right to purchase at any sale of the Property or any part thereof if it is the highest bidder thereon and its shall have the right to have the amount institute proceedings for which the Property or any part thereof is sold credited on its indebtedness then owing. In the event a foreclosure hereunder should be commenced by the Trustee, Beneficiary, at any time before the sale of the Property or any part thereof, may direct Trustee to abandon the sale, and may then institute suit for the collection of the Note and for judicial foreclosure of this Deed of Trust lien. If such a suit should be instituted, Beneficiary, at any time before the entry of a final judgment in said suit, may dismiss the same and require Trustee to sell the Property in accordance with the provisions of this Deed of Trust in addition to the printed notice hereinabove provided for, Beneficiary, at least twenty-one (21) days preceding the date of sale, shall serve written notice of the proposed sale by certified mail on each debtor who, according to Beneficiary's records is obligated to pay the indebtedness secured by this Deed of Trust Notice shall be complete upon deposit of the notice, enclosed in a postpaid wrapper, addressed to such debtor at the most recent address possession as shown by Beneficiary's records, in a post office or official depository under the care and custody of the United States Postal Serviceaforesaid.

Trustee’s Sale. When Grantor has defaulted, and Beneficiary has accelerated may require the time for payment Trustee to sell all or part of the Note as above providedProperty, it shall be at public auction, to the duty of the Trusteehighest bidder, for cash, at the request county courthouse of Beneficiary the county in Texas in which the Property or any part thereof is situated, or if the Property is located in more than one county such sale or sales may be made at the courthouse in any county in which the Property is situated. All sales shall take place at such area of the courthouse as shall be properly designated from time to enforce this Trust time by the commissioners court (or, if not so designated by the commissioners court, as such other area in the courthouse as may be provided in the notice of sale hereinafter described) of the specified county, between the hours of 10:00 o’clock a.m. and 4:00 o’clock p.m. (the commencement of such sale to occur within three hours following mannerthe time designated in the above described notice of sale as the earliest time at which such sale shall occur, The Trustee shall advertise if required by applicable law) on the first Tuesday of any month, after giving notice of the time, place and terms of said sale (including the earliest time at which such sale shall occur) and of the Property or to be sold in the manner hereinafter described. To the extent permitted by applicable law, any part thereof for at least twenty-one (21) days preceding the day of sale may be adjourned by posting written or printed notices thereof announcement at the courthouse door of the county where the Property, or any part thereof, is situated time and which place appointed for such sale without further notice except as may be posted required by the Trustee, or by any person acting for him and by filing a copy of such notice in the office of the County Clerk of the county in which the sale is made at least twenty-one (21) days preceding the date of sale; the law. Trustee shall then may sell the Property or any part thereof in accordance with such notice at the courthouse door of the county in which the notice has been posted on the first Tuesday of any month between the hours of 10:00 o'clock a.m, and 4:00 o'clock p.m, to the highest bidder for cash, selling all or any portion of the Property, as an entirety, together or in lots or parcels. In no event shall Trustee be required to exhibit, present or display at any such parcels as sale any of the Trustee Personal Property to be sold at such sale, Beneficiary may electbid and become the purchaser of all or any part of the Property at any trustee’s or foreclosure sale hereunder, and the Trustee amount of Beneficiary’s successful bid may make due conveyance to be credited on the purchaser, with general warranty binding Indebtedness. In the Grantor, its successors and assigns. Out of the proceeds of such sale, Trustee shall first pay all of the expenses of advertising the event any sale and making the conveyance, including a Trustee's commission hereunder is not completed or fee in a reasonable amount, which commission or fee shall be due and owing in addition to the attorney's fees provided for is defective in the Note secured hereby. After payment opinion of expenses and commissionsBeneficiary, Beneficiary shall be paid the full amount of principal, interest, attorney's fees and other charges due and unpaid on the Note, with the balance of the proceeds of such sale, if any, to be paid by Grantor, its successors and assigns. The recitals in the conveyance to the purchaser shall be full and conclusive evidence of the truth of the matters therein stated, and all prerequisites to such sale shall be presumed to have been performednot exhaust the power of sale hereunder, and such sale and conveyance by the Trustee shall be conclusive against the Grantor, its successors and assigns. Beneficiary shall have the right to purchase at any cause a subsequent sale of the Property or any part thereof if it is the highest bidder thereon and its shall have the right sales to have the amount for which the Property or any part thereof is sold credited on its indebtedness then owing. In the event a foreclosure hereunder should be commenced by the Trustee, Beneficiary, at any time before the sale of the Property or any part thereof, may direct Trustee to abandon the sale, and may then institute suit for the collection of the Note and for judicial foreclosure of this Deed of Trust lien. If such a suit should be instituted, Beneficiary, at any time before the entry of a final judgment in said suit, may dismiss the same and require Trustee to sell the Property in accordance with the provisions of this Deed of Trust in addition to the printed notice hereinabove provided for, Beneficiary, at least twenty-one (21) days preceding the date of sale, shall serve written notice of the proposed sale by certified mail on each debtor who, according to Beneficiary's records is obligated to pay the indebtedness secured by this Deed of Trust Notice shall be complete upon deposit of the notice, enclosed in a postpaid wrapper, addressed to such debtor at the most recent address as shown by Beneficiary's records, in a post office or official depository under the care and custody of the United States Postal Servicemade hereunder.

Trustee’s Sale. When Grantor has defaultedBeneficiary may effect a trustee's sale of the -------------- Trust Property in whole or in part in lieu of judicial foreclosure to the extent and in any manner permitted by, and otherwise in accordance with, applicable law. The Beneficiary has accelerated shall have the time for payment of the Note as above provided, it shall be the duty of the Trusteeright forthwith, at the request Beneficiary's election, by and through the Trustee or otherwise, to sell or offer for sale the Trust Property in such portions, order and parcels as the Beneficiary may determine, with or without having first taken possession of Beneficiary to enforce this Trust same, at public auction for cash or cash equivalent, including, without limitation, for certified checks, bank drafts, wire transfer funds, cashier checks and any other method of payment which, in the following mannersole discretion of the Beneficiary, The Trustee shall advertise is "cash equivalent", to the highest and best bidder during legal hours, at any front door of the county courthouse of the county in which the Premises are situated after having advertised and given notice of said sale, giving the time, place and terms thereof, together with a description of the Premises according to the laws of the State of Mississippi governing sales of land under deeds of trust in force at the time the publication of said notice has begun. If the Premises are situated in two or more counties or in two judicial districts of the same county, then the Trustee shall have power, in case the Trustee is directed to foreclose under this Deed of Trust, to select in which county, or judicial district, the sale of all the Trust property shall be made, and the selection shall be binding upon the Trustor and the Beneficiary and all persons claiming through or under them, whether by contract or by law. The Trustee shall have full power to fix the day, time and place of sale, and may sell the Trust Property in parcels or as a whole as the Trustee may deem best. The Trustee shall have full power to conduct any part sale through an agent appointed by the Trustee for the purpose, but said appointment of agent need not be recorded. At any such sale: (i) the Trustee shall not be required to have physically present, or to have constructive possession of, the Trust Property (the Trustor hereby covenanting and agreeing to deliver to the Trustee any portion of the Trust Property not actually or constructively possessed by the Trustee immediately upon demand by the Trustee) and the title to and right of possession of any such Trust Property shall pass to the purchaser thereof for as completely as if the same had been actually present and delivered to purchaser at least twenty-one such sale; (21ii) days preceding the day Trustee may, from time to time adjourn said sale to a later date without readvertising, by giving notice of the time and place of such continued sale by posting written or printed notices thereof at the courthouse door time when and where the Trustee shall make such adjournment; (iii) each and every recital contained in any instrument of conveyance made by the Trustee shall conclusively establish the truth and accuracy of the county where matters recited therein, including, without limitation, nonpayment of the Propertyindebtedness secured by this Deed of Trust, advertisement and conduct of such sale in the manner provided herein and otherwise by law and by appointment of any successor Trustee hereunder; (iv) any and all prerequisites to the validity of such sale shall be conclusively presumed to have been performed; (v) the receipt of the Trustee or of such other party making the sale shall be a sufficient discharge to the purchaser for its or his purchase money and no such purchaser, or its or his assigns, successors or personal representatives, shall thereafter be obligated to see to the application of such purchase money or be in any way answerable for any loss, misapplication or nonapplication thereof; (vi) the Trustor shall be completely and irrevocably divested of all the Trustor's right, title, interest, claim and demand whatsoever, either at law or in equity, in and to the property sold and such sale shall be a perpetual bar both at law and in equity against the Trustor, and against any and all other persons claiming or to claim the Trust Property sold or any part thereof, is situated and which notice ; (vii) the Beneficiary may be posted by a purchaser at any such sale; and (viii) and the Trustee, in the Beneficiary's own name or as the attorney of the Trustor (the Trustee being for that purpose by any person acting for him this Deed of Trust duly and by filing irrevocably authorized and appointed as the Trustor's agent and attorney in fact, coupled with an interest and with full power of substitution, delegation and revocation) to make, execute, acknowledge and deliver to the purchaser or purchasers thereof a copy good and sufficient deed or deeds of the Trust Property in fee simple and to receive the proceeds of such notice in sale or sales. The Trustor waives the office provisions of Section 89-1-55 of the County Clerk Mississippi code of 1972, or laws amendatory thereof, if any, so far as the same restricts the right of the county in which the Trustee to offer at sale is made more than one hundred sixty (160) acres at least twenty-one (21) days preceding the date of sale; the Trustee shall then sell the Property or any part thereof in accordance with such notice at the courthouse door of the county in which the notice has been posted on the first Tuesday of any month between the hours of 10:00 o'clock a.m, and 4:00 o'clock p.m, to the highest bidder for cash, selling all or any portion of the Property, as an entirety, or in such parcels as the Trustee may electa time, and the Trustee may make due conveyance to offer the purchaserLand as a whole, with general warranty binding the Grantor, its successors and assigns. Out regardless of the proceeds manner in which the Land may be described. Should the Trust Property be sold in one or more parcels as permitted herein, the right of sale arising out of any Event of Default shall not be exhausted by any one or more such salesales, Trustee shall first pay but other and successive sales may be made until all of the expenses of advertising the sale and making the conveyance, including a Trustee's commission Trust Property has been sold or fee in a reasonable amount, which commission or fee shall be due and owing in addition to the attorney's fees provided for in the Note secured hereby. After payment of expenses and commissions, Beneficiary shall be paid the full amount of principal, interest, attorney's fees and other charges due and unpaid on the Note, with the balance of the proceeds of such sale, if any, to be paid by Grantor, its successors and assigns. The recitals in the conveyance to the purchaser shall be full and conclusive evidence of the truth of the matters therein stated, and all prerequisites to such sale shall be presumed to have been performed, and such sale and conveyance by the Trustee shall be conclusive against the Grantor, its successors and assigns. Beneficiary shall have the right to purchase at any sale of the Property or any part thereof if it is the highest bidder thereon and its shall have the right to have the amount for which the Property or any part thereof is sold credited on its indebtedness then owing. In the event a foreclosure hereunder should be commenced by the Trustee, Beneficiary, at any time before the sale of the Property or any part thereof, may direct Trustee to abandon the sale, and may then institute suit for the collection of the Note and for judicial foreclosure of this Deed of Trust lien. If such a suit should be instituted, Beneficiary, at any time before the entry of a final judgment in said suit, may dismiss the same and require Trustee to sell the Property in accordance with the provisions of this Deed of Trust in addition to the printed notice hereinabove provided for, Beneficiary, at least twenty-one (21) days preceding the date of sale, shall serve written notice of the proposed sale by certified mail on each debtor who, according to Beneficiary's records is obligated to pay until the indebtedness secured by this Deed of Trust Notice shall be complete upon deposit has fully satisfied. The Trustor hereby irrevocably and unconditionally waives and releases: (i) all benefits that might accrue to the Trustor by virtue of any present or future law exempting the Trust Property from attachment, levy or sale or execution or providing for any appraisement, valuation, stay of execution, exemption from civil process, redemption or extension of time for payment; (ii) all notices of any Event of Default or of the noticeTrustee's exercise of any right, enclosed in a postpaid wrapper, addressed to such debtor at the most recent address as shown by Beneficiary's records, in a post office remedy or official depository recourse provided for hereunder or under the care Credit Agreement; and custody (iii) any right to a marshalling of the United States Postal Serviceassets or a sale in inverse order of alienation.