Common use of Advances by Mortgagee Clause in Contracts

Advances by Mortgagee. Each and every covenant of Mortgagor herein contained shall be performed and kept by Mortgagor solely at Mortgagor’s expense. If Mortgagor fails to perform or keep any of the covenants of whatsoever kind or nature contained in this Mortgage, Mortgagee (either by it directly or on its behalf by any receiver appointed hereunder) may, but will not be obligated to, make advances to perform the same on Mortgagor’s behalf, and Mortgagor hereby agrees to repay such sums and any attorneys’ fees incurred in connection therewith on demand plus interest thereon from the date of the advance until reimbursement of Mortgagee at the Reimbursement Rate. In addition, Mortgagor hereby agrees to repay on demand any costs, expenses and attorney’s fees incurred by Mortgagee which are to be obligations of Mortgagor pursuant to, or allowed by, the terms of this Mortgage, including such costs, expenses and attorney’s fees incurred pursuant to Section 3.1(h), Section 6.5 or Section 7.2 hereof, plus interest thereon from the date of the advance by Mortgagee until reimbursement of Mortgagee at the Reimbursement Rate. Such amounts will be in addition to any sum of money which may, pursuant to the terms and conditions of the written instruments comprising part of the Obligations, be due and owing. No such advance will be deemed to relieve Mortgagor from any default hereunder.

Advances by Mortgagee. Each The Mortgagor authorizes the Mortgagee in the Mortgagee's discretion to advance any sums necessary for the purpose of paying (a) insurance premiums, (b) any and every covenant all excise, property, sales, use and other taxes, forced contributions, service charges, local assessments and governmental charges on any of Mortgagor the Collateral, (c) any Liens affecting the Collateral (whether superior or subordinate to the lien of this Mortgage) not permitted by this Mortgage, (d) necessary repairs and maintenance expenses, or (e) any other amounts which the Mortgagee deems necessary and appropriate to preserve the validity and ranking of this Mortgage, to cure any Defaults or to prevent the occurrence of any Default (collectively, the "Advances") of whatever kind; provided, however, that nothing herein contained shall be performed construed as making such Advances obligatory upon Mortgagee, or as making Mortgagee liable for any loss, damage, or injury resulting from the nonpayment thereof. The Mortgagor covenants and kept agrees that within five (5) days after demand therefor by the Mortgagee, the Mortgagor solely will repay the Advances to Mortgagee, together with interest thereon at Mortgagor’s expense. If Mortgagor fails to perform or keep the Default Rate, and in addition will repay any other reasonable costs, attorneys' fees and expenses, charges and expenses of any and every kind for the full protection and preservation of the covenants of whatsoever kind Collateral or nature contained in this Mortgage, Mortgagee (either by it directly or on its behalf by any receiver appointed hereunder) may, but will not be obligated to, make advances to perform the same on Mortgagor’s behalf, and Mortgagor hereby agrees to repay such sums and any attorneys’ fees incurred in connection therewith on demand plus interest thereon from the date of the advance until reimbursement of Mortgagee at the Reimbursement Rate. In addition, Mortgagor hereby agrees to repay on demand any costs, expenses and attorney’s fees incurred by Mortgagee which are to be obligations of Mortgagor pursuant to, or allowed by, the terms of this Mortgage, including such costspayments required in respect to any Lien affecting the Collateral, expenses and attorney’s fees incurred pursuant to Section 3.1(h), Section 6.5 or Section 7.2 hereof, plus together with interest thereon from at the date Default Rate. All such Advances and amounts (including interest) shall be included in the Indebtedness secured hereby (subject to the maximum amount of the advance by Mortgagee until reimbursement of Mortgagee at the Reimbursement Rate. Such amounts will be Indebtedness set forth above in addition to any sum of money which may, pursuant to the terms and conditions of the written instruments comprising part of the Obligations, be due and owing. No such advance will be deemed to relieve Mortgagor from any default hereunderthis Mortgage).

Advances by Mortgagee. Each The Mortgagor authorizes the Mortgagee in the Mortgagees discretion to advance any sums necessary for the purpose of paying (a) insurance premiums, (b) any and every covenant all excise, property, sales, use and other taxes, forced contributions, service charges, local assessments and governmental charges on any of Mortgagor the Collateral, (c) any Liens affecting the Collateral (whether superior or subordinate to the lien of this Mortgage) not permitted by this Mortgage, (d) necessary repairs and maintenance expenses, or (e) any other amounts which the Mortgagee deems necessary and appropriate to preserve the validity and ranking of this Mortgage, to cure any Defaults or to prevent the occurrence of any Default (collectively, the 'Advances') of whatever kind; provided, however, that nothing herein contained shall be performed construed as making such Advances obligatory upon Mortgagee, or as making Mortgagee liable for any loss, damage, or injury resulting from the nonpayment thereof. The Mortgagor covenants and kept agrees that within five (5) days after demand therefor by the Mortgagee, the Mortgagor solely will repay the Advances to Mortgagee, together with interest thereon at Mortgagor’s expense. If Mortgagor fails to perform or keep the Default Rate, and in addition will repay any other reasonable costs, attorneys' fees and expenses, charges and expenses of any and every kind for the full protection and preservation of the covenants of whatsoever kind Collateral or nature contained in this Mortgage, Mortgagee (either by it directly or on its behalf by any receiver appointed hereunder) may, but will not be obligated to, make advances to perform the same on Mortgagor’s behalf, and Mortgagor hereby agrees to repay such sums and any attorneys’ fees incurred in connection therewith on demand plus interest thereon from the date of the advance until reimbursement of Mortgagee at the Reimbursement Rate. In addition, Mortgagor hereby agrees to repay on demand any costs, expenses and attorney’s fees incurred by Mortgagee which are to be obligations of Mortgagor pursuant to, or allowed by, the terms of this Mortgage, including such costspayments required in respect to any Lien affecting the Collateral, expenses and attorney’s fees incurred pursuant to Section 3.1(h), Section 6.5 or Section 7.2 hereof, plus together with interest thereon from at the date Default Rate. All such Advances and amounts (including interest) shall be included in the Indebtedness secured hereby (subject to the maximum amount of the advance by Mortgagee until reimbursement of Mortgagee at the Reimbursement Rate. Such amounts will be Indebtedness set forth above in addition to any sum of money which may, pursuant to the terms and conditions of the written instruments comprising part of the Obligations, be due and owing. No such advance will be deemed to relieve Mortgagor from any default hereunderthis Mortgage).

Advances by Mortgagee. Each If the Mortgagor shall fail to comply with the provisions hereof with respect to the securing of insurance, the payment of taxes, assessments and every covenant other charges, the keeping of Mortgagor herein contained shall be performed and kept by Mortgagor solely at the Collateral in repair, the performance of the Mortgagor’s expense. If Mortgagor fails to perform obligations under any lease, the payment of any prior mortgages, or keep the protection of any of the covenants Collateral or the Lien of whatsoever kind this Mortgage or nature contained in this Mortgagethe performance of any other term or covenant herein contained, the Mortgagee (either by it directly or on its behalf by any receiver appointed hereunder) may, without further notice to or demand upon Mortgagor and without waiving or releasing any other right, remedy or recourse, (but will shall not be obligated to, ) make advances such payment or perform such act for the account of and at the expense of Mortgagor (such Mortgagee to perform have uncontrolled discretion as to the same on Mortgagor’s behalfnecessity of making any such expenditures), and Mortgagor hereby agrees shall have the right to repay enter upon the Collateral for such purpose and to take all such action as it may deem necessary or appropriate. The repayment of any such sum or sums and any attorneys’ fees incurred in connection therewith on demand plus (with interest thereon at the highest rate allowed by Law from the date of each expenditure) shall be the advance until reimbursement personal obligation of Mortgagee at the Reimbursement RateMortgagor; and such obligation to repay will constitute a part of the indebtedness secured hereby. In additionThe expenditures thus made reimbursable shall include, without limitation, taxes, special improvement assessments, insurance premiums, repairs and maintenance expenses, security expenditures, sums paid to discharge prior liens, and rents on premises in which mortgaged personalty may be situated. The Mortgagor hereby agrees to repay on demand any costsall such sums advanced upon demand, expenses and attorney’s fees incurred by Mortgagee which are to be obligations of Mortgagor pursuant to, or allowed by, the terms of this Mortgage, including such costs, expenses and attorney’s fees incurred pursuant to Section 3.1(h), Section 6.5 or Section 7.2 hereof, plus with interest thereon from the date such advances are made at the rates set forth in Section 3.2.2 of the advance Credit Agreement, or the highest rate permitted by Law, whichever shall be less, and all sums so advanced with interest shall constitute Obligations and shall be secured hereby. The cost of any title abstract or report or supplemental abstract or report procured by Mortgagee until reimbursement of Mortgagee at the Reimbursement Rate. Such amounts to facilitate foreclosure will be in addition to any sum of money which may, pursuant to the terms and conditions of the written instruments comprising also constitute a part of the Obligations, be due and owing. No such advance will be deemed to relieve Mortgagor from any default hereunderreimbursable expenses secured hereby.

Advances by Mortgagee. Each and every covenant of Mortgagor herein contained shall be performed and kept by Mortgagor solely at Mortgagor’s 's expense. If Mortgagor fails to perform or keep any of the covenants of whatsoever kind or nature contained in this Mortgageinstrument, Mortgagee (either by it directly or on its behalf by any receiver appointed hereunder) keeper may, but will not be obligated to, make advances to perform the same on Mortgagor’s 's behalf, and Mortgagor hereby agrees to repay such sums and any attorneys’ ' fees incurred in connection therewith on demand plus interest thereon from the date of the advance until reimbursement of Mortgagee paid at the Reimbursement Default Rate. In addition, Mortgagor hereby agrees to repay on demand any reasonable costs, expenses and attorney’s 's fees incurred by Mortgagee or any keeper which are to be obligations of the Mortgagor pursuant to, or allowed by, the terms of this Mortgage, including such costs, expenses and attorney’s fees incurred pursuant to Section 3.1(h), Section 6.5 or Section 7.2 hereofinstrument, plus interest thereon from the date of the advance until paid at the Default Rate. Any such amounts so paid by Mortgagee until reimbursement or any keeper shall be considered part of the Obligations secured hereby and shall be secured by this instrument and the amount and nature of any such payment by Mortgagee and the date when paid shall be held to be fully and authentically established by affidavit of Mortgagee or its or their agents, servants or employees, and such amounts shall be paid as part of the Obligations out of the proceeds of the sale of the Collateral in the event of foreclosure or other proceedings together with interest thereon at the Reimbursement Raterate provided for above; provided, however (a) that the amount of the Obligations secured and to be secured hereby shall in no event exceed the amount set out in Article 2.3 above and (b) that the exercise of any right or advancement or payment of cost or expenses by Mortgagee or any keeper shall in no manner be construed as a waiver of the rights of Mortgagee to demand payment on the Note. Such amounts will Mortgagee and any future holder or holders of the Note shall be in addition and are hereby subrogated to all rights, liens and privileges securing payment of any sum debt or claim for the payment of money which may, Mortgagee may make advances pursuant to the terms and conditions of the written instruments comprising part of the Obligations, be due and owing. No such advance will be deemed to relieve Mortgagor from any default hereunderhereof.

Advances by Mortgagee. Each and every covenant of Mortgagor herein contained shall be performed and kept by Mortgagor solely at Mortgagor’s 's expense. If Mortgagor fails to perform or keep any of the covenants of whatsoever kind or nature contained in this Mortgage, Mortgagee (either by it directly or on its behalf by any receiver appointed hereunder) may, but will not be obligated to, make advances to perform the same on Mortgagor’s 's behalf, and Mortgagor hereby agrees to repay such sums and any attorneys’ ' fees incurred in connection therewith on demand plus interest thereon from the date of the advance until reimbursement of Mortgagee at the Reimbursement Rate. In addition, Mortgagor hereby agrees to repay on demand any costs, expenses and attorney’s attorneys' fees incurred by Mortgagee which are to be obligations of Mortgagor pursuant to, or allowed by, the terms of this Mortgage, including such costs, expenses and attorney’s attorneys' fees incurred pursuant to Section 3.1(h), Section 6.5 or Section 7.2 7.3 hereof, plus interest thereon from the date of the advance such demand by Mortgagee until reimbursement of Mortgagee at the Reimbursement Rate. Such amounts will be in addition to any sum of money which may, pursuant to the terms and conditions of the written instruments comprising part of the Obligations, be due and owing. No such advance will be deemed to relieve Mortgagor from any default hereunder.