Laserfiche WebLink
201305319 <br />(c) Upon the occurrence of a default, this Mortgage may be foreclosed as to the <br />Georgia Secured Property, or any part thereof, by power of sale (if permitted under any <br />applicable Requirement of Law), by judicial action, or in any other manner permitted by any <br />applicable Requirement of Law. Cumulative of the foregoing and the other provisions of this <br />Section 4.3 <br />(i) Administrative Agent may sell or offer for sale the Georgia Secured <br />Property in such portions, order and parcels as Administrative Agent may determine, with <br />or without having first taken possession of same, to the highest bidder for cash at public <br />auction. Such sale shall be made in accordance with the provisions of Section 4.3(c)(ii) <br />below relating to the sale of real estate or by Chapter 9 of the UCC relating to the sale of <br />collateral after default by a debtor (as such laws now exist or may be hereafter amended <br />or succeeded), or by any other present or subsequent articles or enactments relating to <br />same. With respect to any notices required or permitted under the UCC, Mortgagor <br />agrees that ten (10) days' prior written notice shall be deemed commercially reasonable. <br />At any such sale (A) whether made under the power herein contained, the UCC, any <br />other legal requirement or by virtue of any judicial proceedings or any other legal right, <br />remedy or recourse, it shall not be necessary for Administrative Agent to be physically <br />present at or to have constructive possession of the Georgia Secured Property (Mortgagor <br />shall deliver to Administrative Agent any portion of the Georgia Secured Property not <br />actually or constructively possessed by Administrative Agent immediately upon demand <br />by Administrative Agent), and the title to and right of possession of any such property <br />shall pass to the purchaser thereof as completely as if Administrative Agent had been <br />actually present and delivered to purchaser at such sale, (B) each instrument of <br />conveyance executed by Administrative Agent shall contain general warranties of title (or <br />limited or no warranties if Administrative Agent shall so elect), binding upon Mortgagor, <br />(C) each recital contained in any instrument of conveyance made by Administrative <br />Agent shall constitute prima facie evidence of the truth and accuracy of the matters <br />recited therein, including, without limitation, nonpayment of the Indebtedness and <br />advertisement and conduct of such sale in the manner provided herein and otherwise by <br />law, (D) any prerequisites to the validity of such sale shall be presumed to have been <br />performed, (E) the receipt of Administrative Agent or other party making the sale shall be <br />a sufficient discharge to the purchaser or purchasers for his or their purchase money and <br />no such purchaser or purchasers, or his or their assigns or personal representatives, shall <br />thereafter be obligated to see to the application of such purchase money or be in any way <br />answerable for any loss, misapplication or non - application thereof, and (F) to the fullest <br />extent permitted by law, Mortgagor shall be completely and irrevocably divested of all of <br />its right, title, interest, claim, equity, equity of redemption, and demand whatsoever, <br />either at law or in equity, in and to the property sold and such sale shall be a perpetual bar <br />both at law and in equity against Mortgagor, and against all other persons claiming or to <br />claim the property sold or any part thereof, by, through or under Mortgagor. Upon any <br />sale made under or by virtue of this Section (whether made under the power of sale <br />herein granted or under or by virtue of judicial proceedings or of a judgment or decree of <br />foreclosure and sale), Administrative Agent may bid for and acquire the Georgia Secured <br />Property or any part thereof and in lieu of paying cash therefor may make settlement for <br />the purchase price by crediting upon the Indebtedness the net sale price after deducting <br />37 <br />