Common use of Right to Foreclose Clause in Contracts

Right to Foreclose. If an Event of Default shall occur, Mortgagee may, either with or without entry or taking possession, proceed by suit or suits at law or in equity or by any other appropriate proceedings or remedy to enforce payment of the Indebtedness or the performance of any other term hereof or any other right and Mortgagor hereby authorizes and fully empowers Mortgagee to foreclose this Mortgage by judicial proceedings or by advertisement with power of sale and grants to Mortgagee full authority to sell the Mortgaged Property at public auction and convey title to the Mortgaged Property to the purchaser, either in one parcel or separate lots and parcels, all in accordance with and in the manner prescribed by law, and out of the proceeds arising from sale and foreclosure to retain the principal and interest due on the Note and the Indebtedness together with all such sums of money as Mortgagee shall have expended or advanced pursuant to this Mortgage or pursuant to statute together with interest thereon at the Interest Rate and all costs and expenses of such foreclosure, including lawful reasonable attorney’s fees, with the balance, if any, to be paid to the persons entitled thereto by law. In any such proceeding Mortgagee may apply all or any portion of the Indebtedness to the amount of the purchase price.

Right to Foreclose. If an Event of Default shall occuroccur and upon the giving of notice to the Mortgagor as provided in the Loan Agreement and in Sections 2.01 and 2.02 above, the Mortgagee may, either with or without entry or taking possession, proceed by suit or suits at law or in equity or by any other appropriate proceedings or remedy to enforce payment of the Indebtedness indebtedness secured hereby or the performance of any other term hereof or any other right and the Mortgagor hereby authorizes and fully empowers grants the Mortgagee the power to foreclose institute a proceeding or proceedings, judicial or otherwise, for the complete foreclosure of this Mortgage by judicial proceedings or by advertisement with power under any applicable provision of sale and grants to Mortgagee full authority to sell the Mortgaged Property at public auction and convey title to the Mortgaged Property to the purchaser, either in one parcel or separate lots and parcels, all in accordance with and in the manner prescribed by law, and out of the proceeds arising from sale and foreclosure to retain the principal and interest due on the Note Loan Agreement and the Indebtedness other indebtedness secured hereby together with all such sums of money as the Mortgagee shall have expended or advanced pursuant to this Mortgage or pursuant to statute together with interest thereon at the Interest Rate rate of interest provided for in the obligation being foreclosed upon, and all costs and expenses of such foreclosure, including lawful reasonable attorney’s fees, with the balance, if any, to be paid to the persons entitled thereto by law. In any such proceeding the Mortgagee may apply all or any portion of the Indebtedness indebtedness secured hereby to the amount of the purchase priceany bid at a sheriff’s sale conducted hereunder.

Right to Foreclose. If an Event event of Default default shall occur, ------------------- the Mortgagee may, either with or without entry or taking possession, proceed by suit or suits at law or in equity or by any other appropriate proceedings or remedy to enforce payment of the Indebtedness Secured Obligations or the performance of any other term hereof or any other right and the Mortgagor hereby authorizes and fully empowers the Mortgagee to foreclose this Mortgage by judicial proceedings or by advertisement with power of sale and grants to the Mortgagee full authority to sell the Mortgaged Property at public auction and convey title to the Mortgaged Property to the purchaser, either in one parcel or separate lots and parcels, all in accordance with and in the manner prescribed by law, and out of the proceeds arising from sale and foreclosure to retain the principal and interest due on the Note and the Indebtedness Secured Obligations together with all such sums of money as Mortgagee shall have expended or advanced pursuant to this Mortgage or pursuant to statute together with interest thereon at the Interest Rate rate of interest provided for in the Note and all costs and expenses of such foreclosure, including lawful reasonable attorney’s 's fees, with the balance, if any, to be paid to the persons entitled thereto by law. In any such proceeding the Mortgagee may apply all or any portion of the Indebtedness Secured Obligations to the amount of the purchase price.

Right to Foreclose. If an Event of Default shall occur, occur the Mortgagee may, either with or without entry or taking possession, proceed by suit or suits at law or in equity or by any other appropriate proceedings or remedy to enforce payment of the Indebtedness Secured Hereby or the performance of any other term hereof or any other right and the Mortgagor hereby authorizes and fully empowers the Mortgagee to foreclose this Mortgage by judicial proceedings or by advertisement with power of sale and grants to the Mortgagee full authority to sell the Mortgaged Property Premises at public auction and convey title to the Mortgaged Property Premises to the purchaser, either in one parcel or separate lots and parcels, all in accordance with and in the manner prescribed by law, and out of the proceeds arising from sale and foreclosure to retain the principal and interest due on the Note and the Indebtedness Secured Hereby together with all such sums of money as Mortgagee shall have expended or advanced pursuant to this Mortgage or pursuant to statute together with interest thereon at the Interest Rate rate of interest described in the Note and all costs and expenses of such foreclosure, including lawful reasonable attorney’s attorneys' fees, with the balance, if any, to be paid to the persons entitled thereto by law. In any such proceeding the Mortgagee may apply all or any portion of the Indebtedness Secured Hereby to the amount of the purchase price.