201007999 - Laserfiche WebLink

Browse

2oioo7999 govern. Capitalized words and phrases contained in this Article shall have the definition ascribed to them in the main body of the Mortgage, unless the context manifestly requires atherwise Section 11.2. Notice of Redemption and Redemption Ri _ ts. The Mortgagar shall be entitled to the following benefits, among others, pursuant to the Missouri Revised Statutes (RSMO Chapter 443), which provides: Na party shall have the right of redeeming from any such sale as set �orth in RSMO 443.410 unless he shall have given the written notice specified in said section and shall within twenty days after such sale give security ta the satisfaction of the circuit court of the county in which the land is located for the paym�nt of the interest on the debt or obligation secured by the Mortgage under vvhich the sale is made to accrue within such year after the sale is made, and far the payment in fu11 of the legal charges and costs of the sale, a.rid for the payment of all interest accrued prior to the sale or thereafter which the purchaser at the sale or his repxesentatives ar assigns rnay pay on any prior encumbrance on the land, as well as the interest which may accrue thereon during such year allowed for redemption whether so paid or not and all taxes and assessments and interest and costs thereon whether general or special accrued or accruing during such year allowed forr redemption and whether paid by the purchaser at the sale or not together with interest at rate of six percent per annum on all sums so paid by the purchaser or those claiming under him and for damages for all waste committed or suffered by the party giving such security or those claiming under him during such year unless said property is so redeemed, and it shall be necessary to pay for such redemption all such sums ta which the purchaser or those claiming under him should be entitled with interest as aforesaid. Said security shall be by bond executed by the persan or persons so entitled ta redeem with at least one goad surety in a sum amply sufficient to cover the aggregate of all said sums exclusive of the principal debt or obligation, but including damages and interest, to be so absalutely paid in. event redemption is not made and the aggregate of all such shall be the measure of damag�s to be paid in satisfaction of said bond if such redemption is not made. RSMO 443.420. Deeds of trust in the nature of mortgages of lands may, in addition to being foreclosable by suit, be also foreclosed by a trustee's sale at the option af the holder of the debt or �bligation thereby secured and the Mortgaged Property sold by the Trustee or his successor in the same manner and in all respects as in case of mortgages with power af sale; and all r�al estate which may be sold under any such power of sale in a Mortgage hereafter made and which at such sale shall be braught in by the holder of such debt or obligation or by any other person fox such holder shall be subject to redemption by the grantor in such Mortgage or his heirs, devisees, executors, administrators, grantees or assigns at any time within one year fram the date of the sale; provided, however, that such person so entitled to redeem shall give written notice at the sale or within ten days before the date advertised for the sale to the person making or who is to make th� sale of the purpose to redeem if the sale and purchase are so made; and provided further, the said grantor, his representatives, gx'ant�es oar assigns to make the redemption shall within the year pay the debt and interest or other obli�atian secured by such Mortgage and to accrue thereon together with all sums paid aut by any holder thereof or purchaser at such sale or holder of the rights of such purchaser for interest and principal and either of any prior �