Common use of Default and Foreclosure Clause in Contracts

Default and Foreclosure. If Borrower fails to pay the money Borrower owes to the Lender or to keep any agreements, promises, representations or warranties made by Borrower in the Note or in this Mortgage, then Borrower will be in default and Lender shall be entitled to foreclose this Mortgage. This includes the Lender's right to have the property sold at public sale pursuant to the provisions of Article 13 of the Real Property Actions and Proceedings Law in order to satisfy and pay all amounts owing to the Lender pursuant to the Note and/or Mortgage, as well as any and all other rights the Lender may have pursuant to any other provisions of law. Foreclosure may result in the property being sold to a buyer who will have the right to remove Borrower, its agents, lessees, employees and/or representatives from the property. If an action is commenced to foreclose this Mortgage and there is a sale at foreclosure, Borrower agrees that the property may be sold in one parcel. If an action is commenced to foreclose this Mortgage or to enforce any of the agreements hereunder, Lender shall also be entitled to recover from Borrower all costs, expenses and reasonable attorneys' fees with respect to such action, as well as all reasonable attorneys' fees, costs, allowances, advances, disbursements and other monies which Borrower owes Lender pursuant to any of the terms and conditions of this Mortgage, or the underlying Bond or Note, together with interest at the rate provided in the Note, and which sums due shall be added to and become a part of the lien against the subject property. The proceeds of the sale shall be applied to pay all such costs, expenses, disbursements, reasonable attorneys' fees, allowances and advances, as well as to pay the principal and interest Borrower owes Lender under the Note and Mortgage. If the proceeds from the foreclosure sale are not enough to pay all

Default and Foreclosure. If Borrower ▇▇▇▇▇▇▇▇ fails to pay the money Borrower owes to the Lender or to keep any agreements, promises, representations or warranties made by Borrower in the Note or in this Mortgage, then Borrower will be in default and Lender shall be entitled to foreclose this Mortgage. This includes the Lender▇▇▇▇▇▇'s right to have the property sold at public sale pursuant to the provisions of Article 13 of the Real Property Actions and Proceedings Law in order to satisfy and pay all amounts owing to the Lender pursuant to the Note and/or Mortgage, as well as any and all other rights the Lender may have pursuant to any other provisions of law. Foreclosure may result in the property being sold to a buyer who will have the right to remove Borrower, its agents, lessees, employees and/or representatives from the property. If an action is commenced to foreclose this Mortgage and there is a sale at foreclosure, Borrower ▇▇▇▇▇▇▇▇ agrees that the property may be sold in one parcel. If an action is commenced to foreclose this Mortgage or to enforce any of the agreements hereunder, Lender ▇▇▇▇▇▇ shall also be entitled to recover from Borrower all costs, expenses and reasonable attorneys' fees with respect to such action, as well as all reasonable attorneys' fees, costs, allowances, advances, disbursements and other monies which Borrower owes Lender pursuant to any of the terms and conditions of this Mortgage, or the underlying Bond or Note, together with interest at the rate provided in the Note, and which sums due shall be added to and become a part of the lien against the subject property. The proceeds of the sale shall be applied to pay all such costs, expenses, disbursements, reasonable attorneys' fees, allowances and advances, as well as to pay the principal and interest Borrower owes Lender under the Note and Mortgage. If the proceeds from the foreclosure sale are not enough to pay allall of these amounts, then ▇▇▇▇▇▇ is entitled to deficiency judgment against Borrower for the difference.

Default and Foreclosure. If Borrower fails Upon default under the Agreement, subject to pay any applicable notice and cure rights contained in the money Borrower owes Agreement, or in the performance of any obligation under this Deed of Trust beyond any applicable cure period, Beneficiary may declare all obligations secured by this Deed of Trust immediately due and payable by delivering to Trustee a written Agreement of default and demand for sale and a written notice of default and election to sell the Property. Trustee shall cause the notice of default and election to sell to be recorded. After the required time period has lapsed following the recordation of the notice of default, and after notice of sale has been given as required by law, Trustee, without demand on Trustor, shall sell the Property at the time and place specified in the notice of sale, either as a whole or in separate parcels, and in any order determined by Trustee, at public auction to the Lender highest bidder for cash in lawful money of the United States, payable at the time of sale. Trustee may postpone sale of all or any portion of the Property by public announcement at the time and place of sale, and from time to keep time thereafter may postpone the sale by public announcement at the time fixed by the preceding postponement. Trustee shall deliver to the purchaser at the auction its deed conveying the Property sold, but without any agreementscovenant or warranty, promises, representations express or warranties made by Borrower implied. The recital in the Note deed of any matter or in this Mortgage, then Borrower will be in default and Lender fact shall be entitled to foreclose this Mortgage. This includes the Lender's right to have the property sold at public sale pursuant to the provisions of Article 13 conclusive proof of the Real Property Actions and Proceedings Law in order to satisfy and pay all amounts owing to the Lender pursuant to the Note and/or Mortgage, as well as any and all other rights the Lender may have pursuant to any other provisions of law. Foreclosure may result in the property being sold to a buyer who will have the right to remove Borrower, its agents, lessees, employees and/or representatives from the property. If an action is commenced to foreclose this Mortgage and there is a sale at foreclosure, Borrower agrees that the property may be sold in one parcel. If an action is commenced to foreclose this Mortgage or to enforce any truthfulness of the agreements hereunderrecital. Any person, Lender shall also be entitled to recover from Borrower including Trustor, Trus­tee, or Beneficiary, may purchase at the sale. After deducting all costs, expenses and reasonable attorneys' fees with respect to such action, as well as all reasonable attorneys' fees, costsand expenses of Trustee and Beneficiary under this paragraph, allowancesincluding costs of procuring evidence of title incurred in connection with sale, advances, disbursements and other monies which Borrower owes Lender pursuant Trustee shall apply the proceeds of sale to any of payment of: all sums expended under the terms and conditions of this MortgageDeed of Trust, or the underlying Bond or Notenot then repaid, together with accrued interest at the rate provided amount allowed by law in effect at the Notedate of this Deed of Trust; all other sums then secured by this Deed of Trust; and the remainder, and which sums due shall be added if any, to and become a part of the lien against person or persons legally entitled to the subject property. The proceeds of the sale shall be applied to pay all such costs, expenses, disbursements, reasonable attorneys' fees, allowances and advances, as well as to pay the principal and interest Borrower owes Lender under the Note and Mortgage. If the proceeds from the foreclosure sale are not enough to pay allremaining proceeds.