Common use of Foreclosure Sale Clause in Contracts

Foreclosure Sale. In case the Debt hereby secured shall not be paid when it becomes due by maturity in due course, or by reason of an Event of Default as herein provided, Grantor hereby grants to the Bank and assigns, the following irrevocable power of attorney: To sell the said Property at auction, at the usual place for conducting sales at the Court House in the County where the Real Estate or any part thereof lies, in said State, to the highest bidder for cash, after advertising the time, terms and place of such sale once a week for four (4) weeks immediately preceding such sale (but without regard to the number of days) in the paper in which the Sheriff's advertisements for such County are published, all other notice being hereby waived by Grantor, and the Bank or any person on behalf of the Bank, or assigns, may bid and purchase at such sale and thereupon execute and deliver to the purchaser or purchasers at such sale a sufficient conveyance of said Property in fee simple, which conveyance shall contain recitals as to the happenings of the default upon which the execution of the power of sale herein granted depends, and Grantor hereby constitutes and appoints the Bank and assigns, the agent and attorney in fact of Grantor to make such recitals, and hereby covenants and agrees that the recitals so to be made by the Bank, or assigns, shall be binding and conclusive upon Grantor, and the heirs, executors, administrators and assigns of Grantor, and that the conveyance to be made by the Bank or assigns, shall be effectual to bar all equity of redemption of Grantor, or the successors in interest of Grantor, in and to said property, and the Bank or assigns shall collect the proceeds of such sale, and after reserving therefrom the entire amount of principal and interest due, together with the amount of any taxes, assessments and premiums of insurance or other payments theretofore paid by the Bank, with eight percent per annum thereon from date of payment, together with all costs and expenses of sale and attorney's fees in the amount of fifteen percent of the outstanding principal and interest, shall pay any over-plus to Grantor, or to the heirs or assigns of Grantor as provided by law. The power and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise and are granted as cumulative to the remedies for collection of the Debt provided by law.

Foreclosure Sale. In case If the Debt Mortgagor shall pay the Note secured hereby in accordance with its terms, together with interest thereon, and any renewals or extensions thereof in whole or in part, all other sums secured hereby and shall not comply with all of the covenants, terms and conditions of this deed of trust then this conveyance shall be paid when it becomes due by maturity in due coursenull and void and may be canceled of record at the request and the expense of the Mortgagor. If, or by reason of an however, there shall be any Event of Default as herein providedDefault, Grantor hereby grants then, without further notice, it shall be lawful for and the duty of the Trustee, upon request of the Beneficiary, to the Bank and assigns, the following irrevocable power of attorney: To sell the said Property land herein conveyed at auction, at the usual place for conducting sales at the Court House in the County where the Real Estate or any part thereof lies, in said State, to the highest bidder public auction for cash, after having first giving such notice of hearing as to commencement of foreclosure proceedings and obtained such findings or leave of court as may then be required by law and giving such notice and advertising the time, terms time and place of such sale once a week for four in such manner as may then be provided by law, and upon such and any resales and upon compliance with the law then relating to foreclosure proceedings under the power of sale to convey title to the purchaser in as full and ample manner as the Trustee is empowered. The Trustee shall be authorized to retain an attorney to represent him in such proceedings. The proceeds of the sale shall after the Trustee retains his commission, together with reasonable attorneys fees incurred by the Trustee in such proceeding, be applied to the costs of sale, including, but not limited to, costs of collection, taxes, assessments, costs of recording, service fees and incidental expenditures, the amount due on the Note hereby secured and advancements and other sums expended by the Beneficiary according to the provisions hereof and otherwise as required by the existing law relating to foreclosures. Notwithstanding any provision to the contrary in this deed of trust, the Trustee's commission shall be limited to reasonable trustee's fees actually incurred (4based on the actual number of hours worked by Trustee, at Trustee's usual and customary hourly rate then in effect) weeks immediately preceding such sale (but and Trustee's actual out-of-pocket expenses, without regard to the number of days) in the paper in which the Sheriff's advertisements for such County are publishedany statutory presumption. The Beneficiary, all other notice being hereby waived by Grantor, its successors and the Bank or any person on behalf of the Bank, or assigns, may bid at any sale or sales had under the terms of this deed of trust and may purchase the Property, or any part thereof, if the highest bidder therefor. The purchaser at any such sale and thereupon execute and deliver or sales shall be under no obligation to see to the purchaser proper application of the purchase money. At any foreclosure sale, any part or purchasers at all of the Property, real, personal or mixed, may be offered for sale in parcels or en masse for one total price, the proceeds of any such sale a sufficient conveyance en masse to be accounted for in one account without distinction between the items included therein or without assigning to them any proportion of said Property such proceeds, the Mortgagor hereby waiving the application of any doctrine of marshalling or like proceeding. In case the Beneficiary, in fee simple, which conveyance shall contain recitals as to the happenings of the default upon which the execution exercise of the power of sale herein granted dependsgiven, and Grantor hereby constitutes and appoints elects to sell the Bank and assignsProperty in parts or parcels, the agent and attorney in fact of Grantor sales thereof may be held from time to make such recitals, and hereby covenants and agrees that the recitals so to be made by the Bank, or assigns, shall be binding and conclusive upon Grantortime, and the heirs, executors, administrators and assigns of Grantor, and that the conveyance to be made by the Bank or assigns, shall be effectual to bar all equity of redemption of Grantor, or the successors in interest of Grantor, in and to said property, and the Bank or assigns shall collect the proceeds of such sale, and after reserving therefrom the entire amount of principal and interest due, together with the amount of any taxes, assessments and premiums of insurance or other payments theretofore paid by the Bank, with eight percent per annum thereon from date of payment, together with all costs and expenses power of sale and attorney's fees in the amount of fifteen percent granted herein shall not be fully exercised until all of the outstanding principal and interest, Property not previously sold shall pay any over-plus to Grantor, have been sold or to the heirs or assigns of Grantor as provided by law. The power and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise and are granted as cumulative to the remedies for collection of all the Debt provided by lawsecured hereby shall have been paid in full.

Foreclosure Sale. In This Mortgage shall be subject to foreclosure and may be foreclosed as now provided by law in case of past due mortgages, and the Debt Credit Obligor shall be authorized, at its option, whether or not possession of the Collateral is taken, to sell the Collateral (or such part or parts thereof as the Credit Obligor may from time to time elm to sell) under the power of sale which is hereby secured shall not be paid when it becomes due by maturity in due course, or by reason of an Event of Default as herein provided, Grantor hereby grants given to the Bank and assigns, the following irrevocable power of attorney: To sell the said Property at auctionCredit Obligor, at the usual place for conducting sales at the Court House in the County where the Real Estate or any part thereof lies, in said Statepublic outcry, to the 22 highest bidder for cash, at the front or main door of the courthouse of the county in which the real property to be sold, or a substantial and material part thereof, is located, after advertising the time, terms and place of such sale first giving notice by publication once a week for four (4) three successive weeks immediately preceding of the time, place and terms of such sale (but without regard sale, together with a description of the Collateral to the number of days) be sold, by publication in some newspaper published in the paper county or counties in which the Sheriff's advertisements real property to be sold is located. If there is real property to be sold in more than one county, publication shall be made in all counties where the real property to be sold is located, but if no newspaper is published in any such county, the notice shall be published in a newspaper published in an adjoining county for such County are published, all other notice being hereby waived by Grantor, three successive weeks. The sale shall be hold between the hours of 1:00 a.m. and 4:00 p.m. on the Bank or any person on behalf day designated for the exercise of the Bankpower of sale hereunder. The Credit Obligor, or its successors and assigns, may bid at any sale or sales had under the terms of the Mortgage and purchase may Purchase the Collateral, or any part thereof, if the highest bidder therefor. The purchaser at any such sale and thereupon execute and deliver or sales shall be under no obligation to see to the purchaser proper application of the purchase money. At any foreclosure sale any part or purchasers at all of the Collateral, real, personal or mixed, may be offered for sale in parcels or en masse for one total price, the proceeds of any such sale a sufficient conveyance an masse to be accounted for in one account without distinction between the items included therein or without assigning to them any proportion of said Property such proceeds, the Mortgagors hereby waiving the application of any doctrine of marshalling or like proceeding. If the Credit Obligor, in fee simple, which conveyance shall contain recitals as to the happenings of the default upon which the execution exercise of the power of sale herein granted dependsgiven, and Grantor hereby constitutes and appoints elects to sell the Bank and assignsCollateral in parts or parcels, the agent and attorney in fact of Grantor sees thereof may be held from time to make such recitals, and hereby covenants and agrees that the recitals so to be made by the Bank, or assigns, shall be binding and conclusive upon Grantortime, and the heirspower of sale granted herein shall not be fully exercised until all of the Collateral not previously sold shall have been sold or all the Obligations shall have been paid in full. The Mortgagors hereby waive any equitable rights otherwise available to any of them with respect to marshalling of assets hereunder, executorsso as to require separate sales of the fee estate and the leasehold estate encumbered hereby or to require the Credit Obligor to exhaust its remedies against either the fee estate or the leasehold estate before proceeding against the other; and the Mortgagors hereby expressly consent to and authorize, administrators at the option of the Credit Obligor, the sale, either separately or together, of the fee estate and assigns leasehold estate, or otherwise the merger, prior to sale, of Grantor, and the leasehold estate into the fee estate in order that the conveyance to fee estate may be made by the Bank or assigns, shall be effectual to bar all equity of redemption of Grantor, or the successors in interest of Grantor, in sold free and to said property, and the Bank or assigns shall collect the proceeds of such sale, and after reserving therefrom the entire amount of principal and interest due, together with the amount of any taxes, assessments and premiums of insurance or other payments theretofore paid by the Bank, with eight percent per annum thereon from date of payment, together with all costs and expenses of sale and attorney's fees in the amount of fifteen percent clear of the outstanding principal and interest, shall pay leasehold estate. Without in any over-plus to Grantor, or to way limiting the heirs or assigns of Grantor as provided by law. The power and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise and are granted as cumulative to the remedies for collection generality of the Debt provided by lawforegoing provisions of this Section, it is expressly agreed that the Credit Obligor may, at its option, sell the part of the Collateral described in Granting Clause VII above separately from the remainder of the Collateral.

Foreclosure Sale. In case Upon the Debt hereby secured shall not be paid when it becomes due by maturity in due course, or by reason occurrence of an Event of Default Default, or at any time thereafter, this mortgage shall be subject to foreclosure and may be foreclosed as herein providednow provided by law in case of past due mortgages, Grantor hereby grants to and the Bank and assigns, the following irrevocable power of attorney: To sell the said Property at auctionMortgagee shall be authorized, at its option, whether or not possession of the usual Property is taken, after giving twenty-one days notice by publication once a week for three consecutive weeks of the time, place for conducting sales at the Court House and terms of each such sale by publication in some newspaper of general circulation published in the County where county wherein the Real Estate Property or any part thereof liesis located, to sell the Property (or such part or parts thereof as the Mortgagee may from time to time elect to sell) in said Statefront of such county’s courthouse door, at public outcry, during the legal hours of sale, to the highest bidder for cash. The Mortgagee, after advertising the time, terms its successors and place of such sale once a week for four (4) weeks immediately preceding such sale (but without regard to the number of days) in the paper in which the Sheriff's advertisements for such County are published, all other notice being hereby waived by Grantor, and the Bank or any person on behalf of the Bank, or assigns, may bid at any sale or sales had under the terms of this mortgage and may purchase the Property, or any part thereof, if the highest bidder therefor. The purchaser at any such sale and thereupon execute and deliver or sales shall be under no obligation to see to the purchaser proper application of the purchase money. At any foreclosure sale, any part or purchasers at all of the Property, real, personal or mixed, may be offered for sale in parcels or en masse for one total price, the proceeds of any such sale a sufficient conveyance en masse to be accounted for in one account without distinction between the items included therein or without assigning to them any proportion of said Property such proceeds, the Mortgagor hereby waiving the application of any doctrine of marshalling or like proceeding. In case the Mortgagee, in fee simple, which conveyance shall contain recitals as to the happenings of the default upon which the execution exercise of the power of sale herein granted dependsgiven, and Grantor hereby constitutes and appoints elects to sell the Bank and assignsProperty in parts or parcels, the agent and attorney in fact of Grantor sales thereof may be held from time to make such recitals, and hereby covenants and agrees that the recitals so to be made by the Bank, or assigns, shall be binding and conclusive upon Grantortime, and the heirs, executors, administrators and assigns of Grantor, and that the conveyance to be made by the Bank or assigns, shall be effectual to bar all equity of redemption of Grantor, or the successors in interest of Grantor, in and to said property, and the Bank or assigns shall collect the proceeds of such sale, and after reserving therefrom the entire amount of principal and interest due, together with the amount of any taxes, assessments and premiums of insurance or other payments theretofore paid by the Bank, with eight percent per annum thereon from date of payment, together with all costs and expenses power of sale and attorney's fees in the amount of fifteen percent granted herein shall not be fully exercised until all of the outstanding principal and interest, Property not previously sold shall pay any over-plus to Grantor, have been sold or to the heirs or assigns of Grantor as provided by law. The power and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise and are granted as cumulative to the remedies for collection of all the Debt provided by lawsecured hereby shall have been paid in full.

Foreclosure Sale. In case 4.5.1 If one or more of the Debt hereby secured Events of Default shall not be paid when it becomes due by maturity occur, Beneficiary may request that Trustee sell the Mortgaged Property in due courseaccordance with the Deed of Trust Act of the State of Washington (RCW Chapter 61.24 as existing now, or by reason hereafter amended) and the Uniform Commercial Code of an Event the State of Default as herein provided, Grantor hereby grants to the Bank and assigns, the following irrevocable power of attorney: To sell the said Property at auctionWashington where applicable, at the usual place for conducting sales at the Court House in the County where the Real Estate or any part thereof lies, in said State, public auction to the highest bidder for cashcash at such time and at such place as are statutorily prescribed. Grantor acknowledges that there is no right to an extension of the trustee's sale on "equitable" or other grounds, after advertising and that Beneficiary's remedies under this Deed of Trust shall not be affected or impaired by the timeexercise of any right of setoff or to collect and apply rents, terms profits, insurance proceeds or condemnation awards. Any person except Trustee may bid at a Trustee's sale. The Trustee is not obligated to notify any party hereto of pending sale under any other deed of trust or of any action or proceeding in which Grantor, Trustee or Beneficiary shall be a party, unless such action or proceeding is brought by the Trustee. If the Mortgaged Property consists of several known lots or parcels, Beneficiary may designate the order in which such parcels shall be sold or offered for sale. 4.5.2 Trustee may postpone sale of all or any portion of the Mortgaged Property by public announcement at such time and place of sale, and from time to time thereafter may postpone such sale once a week for four (4) weeks immediately by public announcement at the time fixed by the preceding such sale (but without regard to postponement. 4.5.3. Without declaring the number of days) in the paper in which the Sheriff's advertisements for such County are publishedentire unpaid principal balance due, all other notice being hereby waived by Grantor, and the Bank or any person on behalf of the Bank, or assigns, Beneficiary may bid and purchase at such sale and thereupon execute and deliver to the purchaser or purchasers at such sale a sufficient conveyance of said Property in fee simple, which conveyance shall contain recitals foreclose only as to the happenings sum past due without injury to this Deed of Trust or the displacement or impairment of the default upon remainder of the lien thereof and at such foreclosure sale the Mortgaged Property shall be sold subject to all remaining items of Indebtedness and Beneficiary may again foreclose in the same manner as often as there may be any sum past due. 4.5.4 Beneficiary shall have the right to judicially foreclose this Deed of Trust as a mortgage. If this Deed of Trust is foreclosed by judicial procedure, Beneficiary will be entitled to a judgment which wil1 provide that if the foreclosure sale proceeds are insufficient to satisfy the judgment, execution may issue for any amount by which the execution unpaid balance of the power obligations secured by this Deed of Trust exceeds the net sale herein granted dependsproceeds payable to Beneficiary, and subject to any limitations with respect thereto set forth in the Note. In the event Grantor hereby constitutes and appoints remains in possession of the Bank and assigns, Mortgaged Properly after the agent and attorney in fact Mortgaged Property is sold as provided above or Beneficiary otherwise becomes entitled to possession of Grantor to make such recitals, and hereby covenants and agrees that the recitals so to be made by the Bank, or assigns, shall be binding and conclusive Mortgaged Property upon Grantor, and the heirs, executors, administrators and assigns default of Grantor, Grantor shall become a tenant at will of Beneficiary or the purchaser of the Mortgaged Property and that shall pay a reasonable rental for use of the conveyance Mortgaged Property while in Grantor's possession. The purchaser at any foreclosure sale may (but shall be under no obligation to), during any redemption period, make such repairs and alterations to the improvements as may be made appropriate for the proper operation, care, preservation, and protection thereof pay any taxes and assessments due during such period; insure the improvements on the Mortgaged Property against loss by casualty and itself against liability arising from its ownership and use of the Mortgaged Property; and pay liens not extinguished by the Bank or assigns, shall be effectual foreclosure and any other amounts relating to bar all equity of the Mortgaged Property to the extent due during such redemption of Grantor, or the successors in interest of Grantor, in and to said propertyperiod, and the Bank or assigns shall collect the proceeds all of such sale, expenses and after reserving therefrom the entire amount of principal and interest duepayments, together with the amount of any taxes, assessments and premiums of insurance or other payments theretofore paid by the Bank, with eight percent per annum interest thereon from the date of payment, together with all costs and expenses of sale and attorney's fees in so paid to reimbursement at the amount of fifteen percent of the outstanding principal and interest, shall pay rate provided for any over-plus to Grantor, or to the heirs or assigns of Grantor as provided by law. The power and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise and are granted as cumulative to the remedies for collection of the Debt provided by law.other 24

Foreclosure Sale. In This Mortgage shall be subject to foreclosure and may be foreclosed as now provided by law in case of past due mortgages, and the Debt hereby secured Bank shall be authorized, at its option, whether or not possession of the Collateral is taken, after giving 21 days' notice by publication once a week for three consecutive weeks of the time, place and terms of each such sale together with a description of the property to be paid when it becomes due sold by maturity publication in due coursesome newspaper published in Xxxxxxxxxx County, Alabama, to sell, or by reason cause to be sold, all and singular the Collateral, and all the estate, right, title and interest therein, in front of an Event the courthouse door of Default as herein provided, Grantor hereby grants to the Bank and assigns, the following irrevocable power of attorney: To sell the said Property at auctionXxxxxxxxxx County Courthouse, at public outcry, between the usual place for conducting sales at the Court House in the County where the Real Estate or any part thereof lieshours of 11:00 A.M. and 4:00 P.M., in said Statelocal time, to the highest bidder for cash, after advertising the time, terms and place of such sale once a week for four (4) weeks immediately preceding such sale (but without regard to the number of days) in the paper in which the Sheriff's advertisements for such County are published, all other notice being hereby waived or otherwise foreclose this mortgage as provided by Grantor, and the Bank or any person on behalf of the applicable law. The Bank, or its successors and assigns, may bid at any sale or sales had under the terms of the Mortgage and may purchase the Collateral, or any part thereof, if the highest bidder therefor. The purchaser at any such sale and thereupon execute and deliver or sales shall be under no obligation to see to the purchaser proper application of the purchase money. At any foreclosure sale any part or purchasers at all of the Collateral, real, personal or mixed, may be offered for sale in parcels or en mass for one total price, the proceeds of any such sale a sufficient conveyance en masse to be accounted for in one account without distinction between the items included therein or without assigning to them any proportion of said Property such proceeds, Alcool hereby waiving the application of any doctrine of marshalling or like proceeding. If the Bank, in fee simple, which conveyance shall contain recitals as to the happenings of the default upon which the execution exercise of the power of sale herein granted dependsgiven, elects to sell the Collateral in parts or parcels, sales thereof may be held from time to time, and Grantor the power of sale granted herein shall not be fully exercised until all of the Collateral not previously sold shall have been sold or all the Obligations shall have been paid in full. The Board and Alcool hereby constitutes waive any equitable rights otherwise available to either of them with respect to marshalling of assets hereunder, so as to require separate sales of the fee estate and appoints the leasehold estate encumbered hereby or to require the Bank to exhaust its remedies against either one or the other; and assignsthe Board and Alcool hereby express consent to and authorize, at the agent and attorney in fact option of Grantor to make such recitals, and hereby covenants and agrees that the recitals so to be made by the Bank, the sale, either separately or assignstogether, shall be binding of the fee estate and conclusive upon Grantorleasehold estate, and or otherwise the heirsmerger, executorsprior to sale, administrators and assigns of Grantor, and the leasehold estate into the fee estate in order that the conveyance to fee estate may be made by the Bank or assigns, shall be effectual to bar all equity of redemption of Grantor, or the successors in interest of Grantor, in sold free and to said property, and the Bank or assigns shall collect the proceeds of such sale, and after reserving therefrom the entire amount of principal and interest due, together with the amount of any taxes, assessments and premiums of insurance or other payments theretofore paid by the Bank, with eight percent per annum thereon from date of payment, together with all costs and expenses of sale and attorney's fees in the amount of fifteen percent clear of the outstanding principal and interest, shall pay any over-plus to Grantor, or to the heirs or assigns of Grantor as provided by law. The power and agency hereby granted are coupled with an interest and are irrevocable by death or otherwise and are granted as cumulative to the remedies for collection of the Debt provided by lawleasehold estate.

Foreclosure Sale. In This Mortgage shall be subject to foreclosure and may be foreclosed as now provided by law in case the Debt hereby secured shall not be paid when it becomes of past due by maturity in due coursemortgages, or by reason of an Event of Default as herein provided, Grantor hereby grants to and the Bank shall be authorized, at its option, whether or not possession of the Collateral is taken, after giving 21 days notice by publication once a week for three consecutive weeks of the time, place and assignsterms of each such sale by publication in some newspaper published in Montgomery County, the following irrevocable power of attorney: To Alabama, to sell the said Property at auctionCollateral (or such part or parts thereof as the Bank may from time to time elect to sell) in front of the courthouse door of such county, at the usual place for conducting sales at the Court House in the County where the Real Estate or any part thereof lies, in said Statepublic outcry, to the highest bidder for cash, after advertising the time, terms and place of such sale once a week for four (4) weeks immediately preceding such sale (but without regard to the number of days) in the paper in which the Sheriff's advertisements for such County are published, all other notice being hereby waived by Grantor, and the Bank or any person on behalf of the . The Bank, or its successors and assigns, may bid at any sale or sales had under the terms of this Mortgage and may purchase the Collateral, or any part thereof, if the highest bidder therefor. The purchaser at any such sale and thereupon execute and deliver or sales shall be under no obligation to see to the purchaser proper application of the purchase money. At any foreclosure sale any part or purchasers at all of the Collateral, real, personal or mixed, may be offered for sale in parcels or en masse for one total price, the proceeds of any such sale a sufficient conveyance en masse to be accounted for in one account without distinction between the items included therein or without assigning to them any proportion of said Property such proceeds, the Mortgagors hereby waiving the application of any doctrine of marshalling or like proceeding. If the Bank, in fee simple, which conveyance shall contain recitals as to the happenings of the default upon which the execution exercise of the power of sale herein granted dependsgiven, and Grantor hereby constitutes and appoints elects to sell the Bank and assignsCollateral in parts or parcels, the agent and attorney in fact of Grantor sales thereof may be held from time to make such recitals, and hereby covenants and agrees that the recitals so to be made by the Bank, or assigns, shall be binding and conclusive upon Grantortime, and the heirs, executors, administrators and assigns of Grantor, and that the conveyance to be made by the Bank or assigns, shall be effectual to bar all equity of redemption of Grantor, or the successors in interest of Grantor, in and to said property, and the Bank or assigns shall collect the proceeds of such sale, and after reserving therefrom the entire amount of principal and interest due, together with the amount of any taxes, assessments and premiums of insurance or other payments theretofore paid by the Bank, with eight percent per annum thereon from date of payment, together with all costs and expenses power of sale and attorney's fees in the amount of fifteen percent granted herein shall not be fully exercised until all of the outstanding principal and interest, Collateral not previously sold shall pay any over-plus to Grantor, have been sold or to all the heirs or assigns of Grantor as provided by lawObligations shall have been paid in full. The power and agency Mortgagors hereby granted are coupled waive any equitable rights otherwise available to any of them with an interest and are irrevocable by death or otherwise and are granted as cumulative respect to the remedies for collection marshalling of the Debt provided by lawassets hereunder.