{"component": "definition", "props": {"groups": [{"snippet": "shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.", "snippet_links": [{"key": "agreement-or", "type": "definition", "offset": [62, 74]}], "size": 103, "samples": [{"hash": "6R5UxNCiy2a", "uri": "/contracts/6R5UxNCiy2a#foreclosure-property", "label": "Agreement Between Noteholders (BMO 2022-C1 Mortgage Trust)", "score": 33.1587944031, "published": true}, {"hash": "kz5hh4GIXkJ", "uri": "/contracts/kz5hh4GIXkJ#foreclosure-property", "label": "Agreement Between Noteholders (3650R 2021-Pf1 Commercial Mortgage Trust)", "score": 32.879535675, "published": true}, {"hash": "apykxqu3HrL", "uri": "/contracts/apykxqu3HrL#foreclosure-property", "label": "Intercreditor Agreement (Benchmark 2021-B27 Mortgage Trust)", "score": 32.4907608032, "published": true}], "hash": "452550e771aa6a652504f085cdcd8012", "id": 1}, {"snippet": "Any real property securing a Foreclosed Loan that has been acquired by the Servicer through foreclosure, deed in lieu of foreclosure or similar proceedings in respect of the related Home Loan.", "snippet_links": [{"key": "real-property", "type": "clause", "offset": [4, 17]}, {"key": "foreclosed-loan", "type": "definition", "offset": [29, 44]}, {"key": "by-the-servicer", "type": "clause", "offset": [68, 83]}, {"key": "deed-in-lieu-of-foreclosure", "type": "clause", "offset": [105, 132]}, {"key": "similar-proceedings", "type": "clause", "offset": [136, 155]}, {"key": "in-respect-of", "type": "definition", "offset": [156, 169]}, {"key": "home-loan", "type": "definition", "offset": [182, 191]}], "size": 46, "samples": [{"hash": "wYfUxrtTX", "uri": "/contracts/wYfUxrtTX#foreclosure-property", "label": "Sale and Master Servicing Agreement (Painewebber Mort Acce Corp Iv Fremont Home Ln Own Tr 1999-2)", "score": 18.0, "published": true}, {"hash": "jMANqi1uFGd", "uri": "/contracts/jMANqi1uFGd#foreclosure-property", "label": "Sale and Servicing Agreement (Painewebber Mortgage Acceptance Corporation Iv)", "score": 18.0, "published": true}, {"hash": "gEtKDUxvEXS", "uri": "/contracts/gEtKDUxvEXS#foreclosure-property", "label": "Sale and Servicing Agreement (Empire Funding Home Loan Owner Trust 1998 3)", "score": 18.0, "published": true}], "hash": "88545a04ad279186f1955448ed28d256", "id": 2}, {"snippet": "means a \u201cREO Property\u201d as defined in the Servicing Agreement or such other analogous term used in the Servicing Agreement.", "snippet_links": [{"key": "reo-property", "type": "clause", "offset": [9, 21]}, {"key": "agreement-or", "type": "definition", "offset": [51, 63]}], "size": 27, "samples": [{"hash": "gFpqrYA3mOT", "uri": "/contracts/gFpqrYA3mOT#foreclosure-property", "label": "Agreement Between Noteholders (BMO 2026-5c15 Mortgage Trust)", "score": 37.4544832307, "published": true}, {"hash": "gtPXqq5hL2M", "uri": "/contracts/gtPXqq5hL2M#foreclosure-property", "label": "Agreement Between Noteholders (BBCMS Mortgage Trust 2026-5c42)", "score": 37.4216308594, "published": true}, {"hash": "9gU5lhQ3zvD", "uri": "/contracts/9gU5lhQ3zvD#foreclosure-property", "label": "Agreement Between Noteholders (Benchmark 2026-V22 Mortgage Trust)", "score": 37.3586578369, "published": true}], "hash": "0859e7286ae997f37561bddcfdb4dfa1", "id": 3}, {"snippet": "means real property (including interests in real property), and any personal property incident to such real property, acquired by the real estate investment trust as a result of such trust having bid in such property at foreclosure, or having otherwise reduced such property to ownership or possession by agreement or process of law, after there was default (or default was imminent) on a lease of such property or on an indebtedness that such property secured;", "snippet_links": [{"key": "interests-in-real-property", "type": "definition", "offset": [31, 57]}, {"key": "personal-property", "type": "clause", "offset": [68, 85]}, {"key": "incident-to", "type": "definition", "offset": [86, 97]}, {"key": "real-estate-investment-trust", "type": "clause", "offset": [134, 162]}, {"key": "agreement-or", "type": "definition", "offset": [305, 317]}], "size": 12, "samples": [{"hash": "bykSgwsWaEV", "uri": "https://www.sec.gov/Archives/edgar/data/921082/000095016898000342/2.txt", "label": "Note (Highwoods Properties Inc)", "score": 6.0, "published": false}, {"hash": "5RYkIYrfB6F", "uri": "https://www.sec.gov/Archives/edgar/data/941713/000095016898001225/2.txt", "label": "Highwoods Forsyth L P", "score": 2.0, "published": false}, {"hash": "eKvDoiRVrjB", "uri": "https://www.sec.gov/Archives/edgar/data/941713/000095016898000173/1.txt", "label": "Highwoods Forsyth L P", "score": 2.0, "published": false}], "hash": "db9ab1b76c120093bf9a5f12b60a687b", "id": 4}, {"snippet": "means real property (including interests in real property), and any personal property incident thereto, which is acquired by the Fund as the result of a bid in foreclosure, or by agreement or legal process, following a default (or where a default was imminent) on a lease of the property or on an indebtedness secured by such property.", "snippet_links": [{"key": "interests-in-real-property", "type": "definition", "offset": [31, 57]}, {"key": "personal-property", "type": "clause", "offset": [68, 85]}, {"key": "by-the-fund", "type": "clause", "offset": [122, 133]}, {"key": "in-foreclosure", "type": "definition", "offset": [157, 171]}, {"key": "agreement-or", "type": "definition", "offset": [179, 191]}, {"key": "legal-process", "type": "clause", "offset": [192, 205]}, {"key": "a-default", "type": "definition", "offset": [217, 226]}, {"key": "lease-of-the-property", "type": "clause", "offset": [266, 287]}, {"key": "indebtedness-secured", "type": "definition", "offset": [297, 317]}], "size": 10, "samples": [{"hash": "aRSDswiIkXp", "uri": "https://www.sec.gov/Archives/edgar/data/841942/000084194298000008/2.txt", "label": "Mortgage (NTS Mortgage Income Fund)", "score": 6.0, "published": false}, {"hash": "2XTgTCqxT2", "uri": "https://www.sec.gov/Archives/edgar/data/841942/000084194297000004/2.txt", "label": "Mortgage (NTS Mortgage Income Fund)", "score": 6.0, "published": false}, {"hash": "5leyplTAnvc", "uri": "https://www.sec.gov/Archives/edgar/data/841942/000084194295000003/2.txt", "label": "Certificate of Incorporation (NTS Mortgage Income Fund)", "score": 6.0, "published": false}], "hash": "70427ed4bb73a0acf48ff2ac8b47a43c", "id": 5}, {"snippet": "means assets acquired by foreclosure (or sale in lieu of foreclosure) of any Investment (other than Investments in a Consolidated Subsidiary) of Borrower or any of its Subsidiaries.", "snippet_links": [{"key": "assets-acquired", "type": "clause", "offset": [6, 21]}, {"key": "in-lieu-of", "type": "clause", "offset": [46, 56]}, {"key": "investments-in", "type": "clause", "offset": [100, 114]}, {"key": "consolidated-subsidiary", "type": "definition", "offset": [117, 140]}], "size": 6, "samples": [{"hash": "5nabKQ6a1qx", "uri": "/contracts/5nabKQ6a1qx#foreclosure-property", "label": "Credit Agreement (Allied Capital Corp)", "score": 21.0, "published": true}, {"hash": "jjidkBvkP8a", "uri": "/contracts/jjidkBvkP8a#foreclosure-property", "label": "Credit Agreement (Allied Capital Corp)", "score": 19.0, "published": true}, {"hash": "4S8yCCSQP8u", "uri": "/contracts/4S8yCCSQP8u#foreclosure-property", "label": "Credit Agreement (Allied Capital Corp)", "score": 19.0, "published": true}], "hash": "e983b316e1a8b55a8be68e8c679bffe6", "id": 6}, {"snippet": "any real property (including Interests in Real Property), and personal property incident to such real property, acquired by the Company and/or its affiliates as a result of the Company and/or its affiliates having bid in such property at foreclosure, or having otherwise reduced such property to ownership or possession by agreement or process of law, after there was default (or default was imminent) on a lease of such property or on an indebtedness which such property secured; provided that an election for foreclosure property status under Section 856(e)(5) of the Code is in effect with respect to such property and such election has not been terminated under Section 856(e)(4) of the Code. Such term does not include property acquired by the Company and/or its affiliates as a result of indebtedness arising from the sale or other disposition of property of the Company and/or its affiliates which is Section 1221(1) Property which was not originally acquired as foreclosure property.", "snippet_links": [{"key": "interests-in-real-property", "type": "definition", "offset": [29, 55]}, {"key": "personal-property", "type": "clause", "offset": [62, 79]}, {"key": "incident-to", "type": "definition", "offset": [80, 91]}, {"key": "company-and-or-its-affiliates", "type": "definition", "offset": [128, 157]}, {"key": "agreement-or", "type": "definition", "offset": [323, 335]}, {"key": "provided-that", "type": "definition", "offset": [481, 494]}, {"key": "an-election", "type": "clause", "offset": [495, 506]}, {"key": "property-status", "type": "clause", "offset": [523, 538]}, {"key": "the-code", "type": "clause", "offset": [566, 574]}, {"key": "in-effect", "type": "clause", "offset": [578, 587]}, {"key": "with-respect-to", "type": "clause", "offset": [588, 603]}, {"key": "property-of-the-company", "type": "clause", "offset": [853, 876]}], "size": 4, "samples": [{"hash": "fuS7BxJ2SiR", "uri": "/contracts/fuS7BxJ2SiR#foreclosure-property", "label": "Merger Agreement (Hanover Capital Mortgage Holdings Inc)", "score": 21.0, "published": true}, {"hash": "bh8WyDAW8xl", "uri": "/contracts/bh8WyDAW8xl#foreclosure-property", "label": "Merger Agreement (Walter Industries Inc /New/)", "score": 21.0, "published": true}, {"hash": "bDyUetxHfx8", "uri": "/contracts/bDyUetxHfx8#foreclosure-property", "label": "Merger Agreement (Walter Industries Inc /New/)", "score": 21.0, "published": true}], "hash": "7194c91ad63c7a74af4e65c2590b8f1a", "id": 7}, {"snippet": "within the meaning of section 860G(a)(8) of the Code or (ii) subject any REMIC to the imposition of any federal, state or local income taxes on the income earned from such Mortgaged Property under Section 860G(c) of the Code or otherwise, unless the Servicer has agreed to indemnify and hold harmless the Purchaser, or its designee, with respect to the imposition of any such taxes.\"", "snippet_links": [{"key": "meaning-of", "type": "definition", "offset": [11, 21]}, {"key": "the-code", "type": "clause", "offset": [44, 52]}, {"key": "income-taxes", "type": "clause", "offset": [128, 140]}, {"key": "mortgaged-property", "type": "clause", "offset": [172, 190]}, {"key": "the-servicer", "type": "definition", "offset": [246, 258]}, {"key": "indemnify-and-hold-harmless", "type": "clause", "offset": [273, 300]}, {"key": "the-purchaser", "type": "clause", "offset": [301, 314]}, {"key": "with-respect-to", "type": "clause", "offset": [333, 348]}], "size": 4, "samples": [{"hash": "hYG67a1HVR", "uri": "/contracts/hYG67a1HVR#foreclosure-property", "label": "Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs)", "score": 18.0, "published": true}, {"hash": "7CxdRbemvoF", "uri": "/contracts/7CxdRbemvoF#foreclosure-property", "label": "Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax)", "score": 18.0, "published": true}, {"hash": "3lHPsJPEhK", "uri": "/contracts/3lHPsJPEhK#foreclosure-property", "label": "Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-17xs)", "score": 18.0, "published": true}], "hash": "c920646d309eb4f1b80dfa7bb668e2d0", "id": 8}, {"snippet": "means a property that is (1) under a current notice of default and/or notice of trustee\u2019s sale; (2) the subject of a pending tax assessor\u2019s lien sale; (3) the subject of a foreclosure sale where the title was retained by the beneficiary of a deed of trust involved in the foreclosure; (4) a property title to which has been transferred under a deed in lieu of foreclosure/sale, or (5) subject to a contract forfeiture. Property acquired by Spokane County at a tax foreclosure sale under chapter 84.64 RCW is not \"Foreclosure Property\" within the meaning of this section. For purposes of this section, a property remains a Foreclosure Property until it is sold at an arms\u2019-length transaction to a non-related bona fide purchaser or until the foreclosure action has been dismissed and any default has been cured.", "snippet_links": [{"key": "notice-of-default", "type": "definition", "offset": [45, 62]}, {"key": "notice-of-trustee", "type": "clause", "offset": [70, 87]}, {"key": "subject-of", "type": "clause", "offset": [104, 114]}, {"key": "tax-assessor", "type": "clause", "offset": [125, 137]}, {"key": "the-title", "type": "clause", "offset": [195, 204]}, {"key": "the-beneficiary", "type": "definition", "offset": [221, 236]}, {"key": "deed-of-trust", "type": "definition", "offset": [242, 255]}, {"key": "title-to", "type": "clause", "offset": [300, 308]}, {"key": "deed-in-lieu-of-foreclosure", "type": "clause", "offset": [344, 371]}, {"key": "subject-to", "type": "definition", "offset": [385, 395]}, {"key": "tax-foreclosure-sale", "type": "definition", "offset": [460, 480]}, {"key": "meaning-of", "type": "definition", "offset": [546, 556]}, {"key": "for-purposes-of-this-section", "type": "clause", "offset": [571, 599]}, {"key": "a-non", "type": "clause", "offset": [694, 699]}, {"key": "bona-fide-purchaser", "type": "definition", "offset": [708, 727]}, {"key": "foreclosure-action", "type": "definition", "offset": [741, 759]}], "size": 4, "samples": [{"hash": "2RRgQmC2q8Q", "uri": "https://static.spokanecity.org/documents/officialgazettes/2016/06/official-gazette-2016-06-15.pdf", "label": "static.spokanecity.org", "score": 8.2251882553, "published": false}, {"hash": "akG3aPnkIC3", "uri": "http://www.mcs360.com/documents/compliancedoc/VPR/Spokane%20%20WA%20Abandoned%20Property%20Registration%20Ordinance.pdf", "label": "www.mcs360.com", "score": 7.9103355408, "published": false}, {"hash": "cURjx5Ugqib", "uri": "https://static.spokanecity.org/documents/bcc/commissions/plan-commission/meeting-documents/2015/10/14/foreclosure-property-amendments.pdf", "label": "static.spokanecity.org", "score": 7.8829569817, "published": false}], "hash": "5f652acf636be6cf792f856e4fe58e5d", "id": 9}, {"snippet": "Any real property securing a Foreclosed Loan that has been acquired by the Servicer through foreclosure, deed in lieu of foreclosure or similar proceedings in respect of the related Loan if such Foreclosed Loan is a Mortgage Loan or personalty securing a Foreclosed Loan acquired by the Servicer pursuant to a foreclosure or other appropriate procedure in accordance with applicable law if such Foreclosed Loan is an Equipment Loan. GAAP: Generally accepted accounting principles as in effect in the United States.", "snippet_links": [{"key": "real-property", "type": "clause", "offset": [4, 17]}, {"key": "foreclosed-loan", "type": "definition", "offset": [29, 44]}, {"key": "by-the-servicer", "type": "clause", "offset": [68, 83]}, {"key": "deed-in-lieu-of-foreclosure", "type": "clause", "offset": [105, 132]}, {"key": "similar-proceedings", "type": "clause", "offset": [136, 155]}, {"key": "in-respect-of", "type": "definition", "offset": [156, 169]}, {"key": "related-loan", "type": "definition", "offset": [174, 186]}, {"key": "a-mortgage-loan", "type": "definition", "offset": [214, 229]}, {"key": "pursuant-to-a", "type": "clause", "offset": [296, 309]}, {"key": "appropriate-procedure", "type": "definition", "offset": [331, 352]}, {"key": "in-accordance-with", "type": "definition", "offset": [353, 371]}, {"key": "applicable-law", "type": "definition", "offset": [372, 386]}, {"key": "equipment-loan", "type": "clause", "offset": [417, 431]}, {"key": "generally-accepted-accounting-principles", "type": "clause", "offset": [439, 479]}, {"key": "in-effect", "type": "clause", "offset": [483, 492]}, {"key": "in-the-united-states", "type": "clause", "offset": [493, 513]}], "size": 3, "samples": [{"hash": "jIZwpk83sWJ", "uri": "/contracts/jIZwpk83sWJ#foreclosure-property", "label": "Sale and Servicing Agreement (Franchise Finance Corp of America)", "score": 18.0, "published": true}, {"hash": "e4qm6gUlqzU", "uri": "/contracts/e4qm6gUlqzU#foreclosure-property", "label": "Sale and Servicing Agreement (Franchise Finance Corp of America)", "score": 18.0, "published": true}], "hash": "f9cf49609680f031a32925727331df55", "id": 10}], "next_curs": "CmESW2oVc35sYXdpbnNpZGVyY29udHJhY3Rzcj0LEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIdZm9yZWNsb3N1cmUtcHJvcGVydHkjMDAwMDAwMGEMogECZW4YACAA", "definition": {"snippet": "shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.", "title": "Foreclosure Property", "size": 251, "id": "foreclosure-property", "examples": ["Upon the Timeshare Property becoming a <strong>Foreclosure Property</strong>, the Servicer shall cause the Remarketing Agent to promptly attempt to remarket such <strong>Foreclosure Property</strong> in accordance with and pursuant to the Remarketing Agreement.", "The Servicer shall, either itself or through an agent selected by the Servicer, manage, conserve, protect and operate the <strong>Foreclosure Property</strong> in the same manner that it manages, conserves, protects and operates other <strong>foreclosure property</strong> for its own account.", "In the absence of any such bid, the Servicer shall accept the highest bid received from any Person that is determined to be a fair price for such <strong>Foreclosure Property</strong> by the Servicer, if the highest bidder is a Person other than an Interested Person, or by an Independent appraiser retained by the Servicer, if the highest bidder is an Interested Person.", "In the absence of any bid determined to be fair as aforesaid, the Servicer shall offer the affected <strong>Foreclosure Property</strong> for sale to any Person, other than an Interested Person, in a commercially reasonable manner for a period of not less than 10 or more than 30 days, and shall accept the highest cash bid received therefor in excess of the highest bid previously submitted.", "In determining whether any bid constitutes a fair price for any <strong>Foreclosure Property</strong>, the Servicer shall take into account, and any appraiser or other expert in real estate matters shall be instructed to take into account, as applicable, among other factors, the financial standing of any tenant of the <strong>Foreclosure Property</strong>, the physical condition of the <strong>Foreclosure Property</strong> and the state of the local and national economies.", "Scheduled Sale Date Dates of planned sales for properties in <strong>Foreclosure Property</strong> Sales Price Sales price if liquidation was short sale or REO sale.", "Each liquidation of a <strong>Foreclosure Property</strong> shall be carried by the Servicer at such price and upon such terms and conditions as the Servicer shall deem necessary or advisable and as shall be normal and usual in its several servicing activities, and the resulting Liquidation Proceeds shall be distributed in accordance with Section 5.01 hereof.", "The Servicer shall manage, conserve, protect and operate each <strong>Foreclosure Property</strong> for the Indenture Trustee and the Securityholders solely for the purpose of the prudent and prompt disposition and sale of such <strong>Foreclosure Property</strong>.", "Subject to the provisions of Section 4.10 hereof, the Servicer shall act on behalf of the Grantor Trustee in negotiating and taking any other action necessary or appropriate in connection with the sale of any <strong>Foreclosure Property</strong>, including the collection of all amounts payable in connection therewith.", "No Interested Person shall be obligated to submit a bid to purchase any <strong>Foreclosure Property</strong> and, notwithstanding anything to the contrary herein, neither the Indenture Trustee, in its individual capacity, nor any of its Affiliates may bid for or purchase any <strong>Foreclosure Property</strong> pursuant hereto."], "related": [["foreclosed-property", "Foreclosed Property", "Foreclosed Property"], ["foreclosure-profits", "Foreclosure Profits", "Foreclosure Profits"], ["foreclosure-proceeds", "Foreclosure Proceeds", "Foreclosure Proceeds"], ["foreclosure", "Foreclosure", "Foreclosure"], ["foreclosure-profit", "Foreclosure Profit", "Foreclosure Profit"]], "related_snippets": [], "updated": "2026-06-18T06:05:22+00:00"}, "json": true, "cursor": ""}}