200507874 - Laserfiche WebLink

Browse

200507874 than 20 days of any notice requiring the posting of said bond. The Trustee shall promptly provide Lender by certified mail, return receipt requested, to Lender's address for notices set forth in the Deed of Trust and Security Agreement, a copy of any such notice received by the Trustee requiring the Trustee to post any such bond. (5) The terms of sale may be, as instructed by Lender, (1) cash, (2) certified check in form and substance satisfactory to Lender, (3) wire transfer of immediately available funds, (4) property of the types and quantities satisfactory to Lender, (4) promissory note(s) or installment purchase agreement(s) from the buyer or buyers for deferred payments which in any event may be (at Lender's election in its sole discretion) either unsecured or secured by a deed of trust and security agreement or similar instrument(s), or (5) any combination of two or more of the foregoing; or, without limitation of the foregoing and as an additional set of potential terms of sale, (6) any other terms or combinations of terms permitted by West Virginia law (including without limitation the terms of sale specified in any provision of the West Virginia Code pertaining to foreclosure or similar sale). Notwithstanding any other provision of this Credit Line Deed of Trust, Assignment of Rents and Leases, and Security Agreement, all funds paid or to be paid under the terms of sale, including funds to be paid under any promissory note(s) or installment purchase agreement, shall be United States dollars. (6) Borrower expressly acknowledges that this Credit Line Deed of Trust, Assignment of Rents and Leases, and Security Agreement allows foreclosure and sale of the secured property covered hereby without the necessity of any other notice or proceedings of any kind except as expressly set forth in this Credit Line Deed of Trust, Assignment of Rents and Leases, and Security Agreement, and that, without limitation, foreclosure and sale hereunder may be consummated without any judicial or court proceedings or hearings of any kind. (f) Certain Environmental Matters - No Generation Storage-or Disposal of Hazardous Wastes On the Subject Property. Borrower expressly represents and warrants that no hazardous waste (as defined and regulated by the United States Environmental Protection Agency and by West Virginia law and regulations including without limitation the laws and regulations administered by or through the West Virginia Division of Environmental Protection) has been or is being, or will be, generated, stored or disposed of on or in any of the subject property covered by this Credit Line Deed of Trust, Assignrent of Rents and Leases, and Security Agreement. (g) Copy of W. Va. Code Section 38 -1 -14 (set forth below), which shall constitute "Schedule I" referenced in this Section 18.52. Set forth below is the text of Section 38 -1 -14, which shall constitute Schedule I referenced in this Section 18.52: West Virginia Code § 38 -1 -14. Future advances secured by credit line deed of trust; definitions; notice requirements and form; priority over other liens; release. (a) Definitions. For purposes of this section, the following definitions shall apply: (1) "Credit line deed of trust' ' is a deed of trust securing any obligation arising out of a Loan Documents, a promissory note, a sales contract, a performance contract, or any other agreement or writing, under the terms of which the indebtedness or other obligation created may increase and/or decrease from time to time. (2) "Future advance" means any form of increase in the indebtedness or obligation owed to the secured party under the terms of the credit line deed of trust, including, but not limited to, an increase arising from, but not limited to, an application for the same by the obligor; the advancement of loan proceeds pursuant to the terms of the credit line deed of trust or other agreement; the payment of any taxes, insurance premiums, interest, or other obligations pursuant to the terms of the credit line deed of trust or other agreement; or the occurrence of any condition, event or circumstance set forth in the credit line deed of trust. 109