Common use of Multiple Parcels Clause in Contracts

Multiple Parcels. If the Mortgaged Property consists of multiple parcels, then in any sale of the Mortgaged Property pursuance to Mortgagee’s exercise of its remedies after an Event of Default (including any judicial foreclosure sale under Real Property Actions and Proceedings Law Article 14), the multiple parcels shall be sold at one time and in a single sale, except to the extent that Mortgagee, in its sole absolute discretion, determines to sell any one or more of the parcel(s) separately. Any such separate sales may be made in whatever order Mortgagee determines in its sole and absolute discretion. Mortgagee may, in its sole and absolute discretion, cause the entire Mortgaged Property to be offered for sale as a single auction lot and may also cause bids to be solicited for individual parcels of the Mortgaged Property as separate auctions lots in any order, but shall be under no obligation to proceed in either manner or the other. Mortgagor and Agency acknowledge that if Mortgagee sells multiple parcels individually, no fair value or deficiency hearing shall be required after each sale.

Multiple Parcels. If the Mortgaged Property consists of multiple parcels, then in any sale of the Mortgaged Property pursuance pursuant to Mortgagee’s 's exercise of its remedies after an Event of Default (including any judicial foreclosure sale under Real Property Actions and Proceedings Law Article 14), the multiple parcels shall be sold at one time and in a single sale, except to the extent that Mortgagee, in its sole absolute discretion, determines to sell any one or more of the parcel(s) separately. Any such separate sales may be made in whatever order Mortgagee determines in its sole and absolute discretion. Mortgagee may, in its sole and absolute discretion,, cause the entire Mortgaged Property to be offered for sale as a single auction lot and may also cause bids to be solicited for individual parcels of the Mortgaged Property as separate auctions auction lots in any order, but shall be under no obligation to proceed in either manner or the other. Mortgagor and Agency acknowledge acknowledges that if Mortgagee sells multiple parcels individually, no fair value or deficiency hearing shall be required after each sale.

Multiple Parcels. If the Mortgaged Property consists of multiple parcels, then in any sale of the Mortgaged Property pursuance pursuant to Mortgagee’s 's exercise of its remedies after an Event of Default (including any judicial foreclosure sale under Real Property Actions and Proceedings Law Article 14), the multiple parcels shall be sold at one time and in a single sale, except to the extent that Mortgagee, in its sole absolute discretion, determines to sell any one or more of the parcel(s) separately. Any such separate sales may be made in whatever order Mortgagee determines in its sole and absolute discretion. Mortgagee may, in its sole and absolute discretion, cause the entire Mortgaged Property to be offered for sale as a single auction lot and may also cause bids to be solicited for individual parcels of the Mortgaged Property as separate auctions auction lots in any order, but shall be under no obligation to proceed in either manner or the other. Mortgagor and Agency acknowledge acknowledges that if Mortgagee sells multiple parcels individually, no fair value or deficiency hearing shall be required after each sale.