Common use of Personal Property and Fixtures Clause in Contracts

Personal Property and Fixtures. (a) The Bank shall have and may exercise with respect to any or all of the Personal Property and Fixtures all rights, remedies and powers of a secured party under the Alabama Uniform Commercial Code with reference to the Personal Property and Fixtures or any other items in which a security interest has been granted herein, including, without limitation, the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Personal Property and Fixtures and any part or parts thereof in any manner, to the fullest extent authorized or permitted under the Alabama Uniform Commercial Code after default hereunder, without regard to preservation of the Personal Property and Fixtures or its value and without the necessity of a court order. The Bank shall have, among other rights, the right to take possession of the Personal Property and Fixtures and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the Bank, at its option and in its sole discretion, to repair, restore or otherwise prepare the Personal Property and Fixtures for sale or lease or other use or disposition. To the extent permitted by law, the Mortgagors expressly waive any notice of sale or any other disposition of the Personal Property and Fixtures and any rights or remedies of the Bank with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Personal Property and Fixtures or to the exercise of any other right or remedy of the Bank existing after default. To the extent that such notice is required and cannot be waived, the Mortgagors agree that if such notice is given to the Mortgagors in accordance with the provisions of Section 9.8 hereof at least 5 days before the time of the sale or other disposition, such notice shall be deemed reasonable and shall fully satisfy any requirement for giving said notice.

Personal Property and Fixtures. (a) The Bank Upon the occurrence of an Event of Default or at any time thereafter, the Mortgagee shall have and may exercise with respect to any or all of the Personal Property and Fixtures fixtures included in the Property (the “Collateral”) all rights, remedies and powers of a secured party under the Alabama Uniform Commercial Code with reference to the Personal Property and Fixtures Collateral or any other items in which a security interest has been granted herein, including, without limitation, the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Personal Property and Fixtures Collateral and any part or parts thereof in any manner, manner to the fullest extent authorized or permitted under the Alabama Uniform Commercial Code after default hereunder, without regard to preservation of the Personal Property and Fixtures Collateral or its .its value and without the necessity of a court order. The Bank Mortgagee shall have, among other rights, the right to take possession of the Personal Property and Fixtures Collateral and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the Bank, Mortgagee; at its option and in its sole discretion, to repair, restore or otherwise prepare the Personal Property and Fixtures Collateral for sale or sale, lease or other use or disposition. At the Mortgagee’s request, the Mortgagor shall assemble the Collateral and make the Collateral available to the Mortgagee at any place designated by the Mortgagee. To the extent permitted by law, the Mortgagors Mortgagor expressly waive waives any notice of sale or any other disposition of the Personal Property and Fixtures Collateral and any rights or remedies of the Bank Mortgagee with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Personal Property and Fixtures Collateral or to the exercise of any other right or remedy of the Bank Mortgagee existing after default. To the extent that such notice is required and cannot be waived, the Mortgagors agree Mortgagor agrees that if such notice is given to the Mortgagors Mortgagor in accordance with the provisions of Section 9.8 hereof paragraph 28 below, at least 5 five days before the time of the sale or other disposition, such notice shall be deemed reasonable and shall fully satisfy any requirement for giving said notice. The Mortgagor agrees that the Mortgagee may proceed to sell or dispose of both the real and personal property comprising the Property in accordance with the rights and remedies granted under this mortgage with respect to the real property covered hereby. The Mortgagor hereby grants the Mortgagee the right, at its option after default hereunder, to transfer at any time to itself or its nominee the Collateral or any part thereof and to receive the monies, income, proceeds and benefits attributable to the same and to hold the same as Collateral or to apply it on the Debt in such order and amounts and manner as the Mortgagee may elect. The Mortgagor covenants and agrees that all recitals in any instrument transferring, assigning, leasing or making other disposition of the Collateral or any part thereof shall be full proof of the matters stated therein and no other proof shall be required to establish the legal propriety of the sale or other action taken by the Mortgagee and that all prerequisites of sale shall be presumed conclusively to have been performed or to have occurred.

Personal Property and Fixtures. (a) The Upon the occurrence of an Event of Default or at any time thereafter, the Bank shall have and may exercise with respect to any or all of the Personal Property and Fixtures fixtures included in the Property (the "Collateral") all rights, remedies and powers of a secured party under the Alabama Georgia Uniform Commercial Code with reference to the Personal Property and Fixtures Collateral or any other items in which a security interest has been granted herein, including, without limitation, the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Personal Property and Fixtures Collateral and any part or parts thereof in any manner, manner to the fullest extent authorized or permitted under the Alabama Georgia Uniform Commercial Code after default hereunder, without regard to preservation of the Personal Property and Fixtures Collateral or its value and without the necessity of a court order. The Bank shall have, among other rights, the right to take possession of the Personal Property and Fixtures Collateral and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the Bank, ; at its option and in its sole discretion, to repair, restore or otherwise prepare the Personal Property and Fixtures Collateral for sale or sale, lease or other use or disposition. At the Bank's request, the Grantor shall assemble the Collateral and make the Collateral available to the Bank at any place designated by the Bank. To the extent permitted by law, the Mortgagors Grantor expressly waive waives any notice of sale or any other disposition of the Personal Property and Fixtures Collateral and any rights or remedies of the Bank with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Personal Property and Fixtures Collateral or to the exercise of any other right or remedy of the Bank existing after default. To the extent that such notice is required and cannot be waived, the Mortgagors agree Grantor agrees that if such notice is given to the Mortgagors Grantor in accordance with the provisions of Section 9.8 hereof paragraph 27 below, at least 5 five (5) days before the time of the sale or other disposition, such notice shall be deemed reasonable and shall fully satisfy any requirement for giving said notice. The Grantor agrees that the Bank may proceed to sell or dispose of both the Real Estate and Personal Property comprising the Property in accordance with the rights and remedies granted under this security deed with respect to the Real Estate covered hereby. The Grantor hereby grants the Bank the right, at its option after default hereunder, to transfer at any time to itself or its nominee the Collateral or any part thereof and to receive the monies, income, proceeds and benefits attributable to the same and to hold the same as Collateral or to apply it on the Debt in such order and amounts and manner as the Bank may elect. The Grantor covenants and agrees that all recitals in any instrument transferring, assigning, leasing or making other disposition of the Collateral or any part thereof shall be full proof of the matters stated therein and no other proof shall be required to establish the legal propriety of the sale or other action taken by the Bank and that all prerequisites of sale shall be presumed conclusively to have been performed or to have occurred.

Personal Property and Fixtures. (a) The Bank Upon the occurrence of an Event of Default or at any time thereafter, the Beneficiary shall have and may exercise with respect to any or all of the Personal Property and Fixtures fixtures included in the Property (the "Collateral") all rights, remedies and powers of a secured party under the Alabama North Carolina Uniform Commercial Code with reference to the Personal Property and Fixtures Collateral or any other items in which a security interest has been granted herein, including, without limitation, the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Personal Property and Fixtures Collateral and any part or parts thereof in any manner, manner to the fullest extent authorized or permitted under the Alabama North Carolina Uniform Commercial Code after default hereunder, without regard to preservation of the Personal Property and Fixtures Collateral or its value and without the necessity of a court order. The Bank Beneficiary shall have, among other rights, the right to take possession of the Personal Property and Fixtures Collateral and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the Bank, Beneficiary; at its option and in its sole discretion, to repair, restore or otherwise prepare the Personal Property and Fixtures Collateral for sale or sale, lease or other use or disposition. At the Beneficiary's request, the Mortgagor shall assemble the Collateral and make the Collateral available to the Beneficiary at any place designated by the Beneficiary. To the extent permitted by law, the Mortgagors Mortgagor expressly waive waives any notice of sale or any other disposition of the Personal Property and Fixtures Collateral and any rights or remedies of the Bank Beneficiary with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Personal Property and Fixtures Collateral or to the exercise of any other right or remedy of the Bank Beneficiary existing after default. To the extent that such notice is required and cannot be waived, the Mortgagors agree Mortgagor agrees that if such notice is given to the Mortgagors Mortgagor in accordance with the provisions of Section 9.8 hereof paragraph 26 below, at least 5 five (5) days before the time of the sale or other disposition, such notice shall be deemed reasonable and shall fully satisfy any requirement for giving said notice. The Mortgagor agrees that the Beneficiary through the Trustee may proceed to sell or dispose of both the real and personal property comprising the Property in accordance with the rights and remedies granted under this deed of trust with respect to the real property covered hereby. The Mortgagor hereby grants the Trustee the right, at its option after default hereunder, to transfer at any time to itself or its nominee the Collateral or any part thereof and to receive the monies, income, proceeds and benefits attributable to the same and to hold the same as Collateral or to apply it on the Debt in such order and amounts and manner as the Beneficiary may elect. The Mortgagor covenants and agrees that all recitals in any instrument transferring, assigning, leasing or making other disposition of the Collateral or any part thereof shall be full proof of the matters stated therein and no other proof shall be required to establish the legal propriety of the sale or other action taken by the Beneficiary and that all prerequisites of sale shall be presumed conclusively to have been performed or to have occurred.

Personal Property and Fixtures. (a) The Bank Credit Obligor shall have and may exercise with respect to any or all of personal property and fixtures included in the Collateral (the "Personal Property and Fixtures Fixtures"), all rights, remedies and powers of a secured party under the Alabama Uniform Commercial Code with reference to the Personal Property and Fixtures or any other items in which a security interest has been granted herein, including, including without limitation, limitation the right and power to sell at public or private sale or sales or otherwise dispose of, lease or utilize the Personal Property and Fixtures and any part or parts thereof in any manner, to the fullest extent authorized or permitted under the Alabama Uniform Commercial Code after default hereunder, without regard to preservation of the Personal Property and Fixtures or its value and without the necessity of a court order. The Bank Credit Obligor shall have, among other rights, the right to take possession of the Personal Property and Fixtures and to enter upon any premises where the same may be situated for the purpose of repossessing the same without being guilty of trespass and without liability for damages occasioned thereby and to take any action deemed appropriate or desirable by the BankCredit Obligor, at its option and in its sole discretion, 23 to repair, restore or otherwise prepare the Personal Property and Fixtures for sale or lease or other use or disposition. To the extent permitted by law, the Mortgagors Mortgagors, expressly waive any notice of sale or any other disposition of the Personal Property and Fixtures and any rights or remedies of the Bank Credit Obligor with respect to, and the formalities prescribed by law relative to, the sale or disposition of the Personal Property and Fixtures or to the exercise of any other right or remedy of the Bank Credit Obligor existing after default. To the extent that such notice is required and cannot be waived, the Mortgagors agree that if such notice is given to the Mortgagors in accordance with the provisions of Section 9.8 hereof 9.08 below, at least 5 days before the time of the sale or other disposition, such notice shall be deemed reasonable reasonable, and shall fully satisfy any requirement for giving said notice.