Examples of Indebtedness in a sentence
The proceeds of any foreclosure sale of the Property shall be distributed and applied in the following order or priority: first, on account of all advances incident to the foreclosure proceedings and all costs thereof; second, all other items which under the terms of this Mortgage constitute Indebtedness; and third, any remainder to the person or persons entitled thereto as determined by the court it the foreclosure proceedings.
Upon the commencement of any proceedings to foreclose this Mortgage, Mortgagee shall be entitled forthwith to the appointment of a receiver or receivers, as a matter of right, without the giving of notice to any other party, without regard to the adequacy or inadequacy of any security for the Indebtedness and without the requirement of any bond.
The word “Mortgagee” shall include the successors and assigns of Mortgagee, and the holder or holders, from time to time, of the Indebtedness instruments.
All expenses so incurred, including reasonable attorneys’ fees, and any other reasonable expenses incurred by Mortgagee to protect the Property, shall constitute an advance that forms a part of the Indebtedness and shall be immediately due and payable by Xxxxxxxxx.