Common use of PROCEEDS OF SALES Clause in Contracts

PROCEEDS OF SALES. The proceeds of any sale under this Mortgage shall be applied in the following manner: (a) First, to payment of the costs and expenses of the sale, including but not limited to the Mortgagee’s reasonable fees, legal fees and disbursements, title charges and transfer taxes, and payment of all expenses, liabilities and advances of the Mortgagee, together with interest at the Default Rate on all advances made by the Mortgagee; (b) Second, to payment of all sums expended by the Mortgagee under the terms of this Mortgage and not yet repaid, together with interest on such sums at the Default Rate; (c) Third, to payment of the Obligations, including interest on the unpaid principal and interest due under the Note from the due date thereof, in any order that the Mortgagee chooses; and (d) Fourth, the remainder, if any, to the person or persons legally entitled thereto as directed by a court of competent jurisdiction.

PROCEEDS OF SALES. The proceeds of any sale under this Mortgage shall be applied in the following manner: (a) First, to payment of the costs and expenses of the sale, including but not limited to the Mortgagee’s 's reasonable fees, legal fees and disbursements, title charges and transfer taxes, and payment of all expenses, liabilities and advances of the Mortgagee, together with interest at the Default Rate on all advances made by the Mortgagee; (b) Second, to payment of all sums expended by the Mortgagee under the terms of this Mortgage and not yet repaid, together with interest on such sums at the Default Rate; (c) Third, to payment of the Obligations, including interest on the unpaid principal and interest due under the Note from the due date thereof, in any order that the Mortgagee chooses; and (d) Fourth, the remainder, if any, to the person or persons legally entitled thereto as directed by a court of competent jurisdiction.

PROCEEDS OF SALES. The proceeds of any sale under this Mortgage shall be applied in the following manner:the (a) First, to payment of the costs and expenses of the sale, including but not limited to the Mortgagee’s 's reasonable fees, legal fees and disbursements, title charges and transfer taxes, and payment of all expenses, liabilities and advances of the Mortgagee, together with interest at the Default Rate on all advances made by the Mortgagee; (b) Second, to payment of all sums expended by the Mortgagee under the terms of this Mortgage and not yet repaid, together with interest on such sums at the Default Rate; (c) Third, to payment of the Obligations, including interest on the unpaid principal and interest due under the Note from the due date thereof, in any order that the Mortgagee chooses; and (d) Fourth, the remainder, if any, to the person or persons legally entitled thereto as directed by a court of competent jurisdiction.