Common use of Care of Mortgaged Property Clause in Contracts

Care of Mortgaged Property. Mortgagor shall keep the buildings, parking areas, roads and walkways, recreational facilities, landscaping and all other improvements of any kind now or hereafter erected on the Mortgaged Property or any part thereof in good condition and repair, shall not commit or suffer any waste and shall not do or suffer to be done anything which will increase the risk of fire or other hazard to the Mortgaged Property or any part thereof. If the Mortgaged Property or any part thereof is damaged by fire or any other cause, Mortgagor shall give immediate written notice thereof to Lender. Lender or its representative is hereby authorized to enter upon and inspect the Mortgaged Property at any time during normal business hours. Mortgagor shall promptly comply with all present and future laws, ordinances, rules and regulations of any governmental authority affecting the Mortgaged Property or any part thereof. If all or any part of the Mortgaged Property shall be damaged by fire or other casualty, Mortgagor shall promptly restore the Mortgaged Property to the equivalent of its original condition; and if a part of the Mortgaged Property shall be damaged through condemnation, Mortgagor shall promptly restore, repair or alter the remaining portions of the Mortgaged Property in a manner satisfactory to Lender. Mortgagor shall not be obligated to so restore unless in each instance, Xxxxxx agrees to make available to Mortgagor (pursuant to a procedure satisfactory to Lender) any net insurance or condemnation proceeds actually received by Xxxxxx hereunder in connection with such casualty loss or condemnation, to the extent such proceeds are required to defray the expenses of such restoration; provided, however, that the insufficiency of any such insurance or condemnation proceeds to defray the entire expense of restoration shall in no way relieve Mortgagor of its obligation to restore. In the event all or any portion of the Mortgaged Property shall be damaged or destroyed by fire or other casualty or by condemnation, Xxxxxxxxx shall promptly deposit with Lender a sum equal to the amount by which the estimated cost of the restoration of the Mortgaged Property (as determined by Lender in its good faith judgment) exceeds the actual net insurance or condemnation proceeds received by Lender in connection with such damage or destruction.

Care of Mortgaged Property. Mortgagor Trustor shall keep and maintain the buildingsMortgaged Property and all abutting grounds, sidewalks, roads, parking areasareas and landscape areas in good condition and repair; not remove, roads demolish or substantially alter (except such alterations as may be required by applicable law) any of the Improvements without Beneficiary's prior written consent, which consent shall not be unreasonably withheld, except that Beneficiary's consent shall not be required with respect to alterations that cost less than fifty thousand dollars ($50,000) total and walkwaysthat do not affect in any way the structural, recreational facilitiesexterior or roof elements of the Mortgaged Property or the mechanical, landscaping electrical, plumbing, utility or life safety systems of the Mortgaged Property; complete promptly and in a good and workmanlike manner any building or other improvement that may be constructed on the Property, and promptly restore and repair, in like manner, to the equivalent of its original condition any building or other improvement that may be damaged or destroyed thereon, and, except as expressly provided herein to the contrary, pay when due all claims for labor performed and materials furnished therefor; comply with all laws, ordinances, regulations and requirements of any governmental authority and all other improvements of any kind covenants, conditions and restrictions now or hereafter erected on applicable to the Mortgaged Property or any part thereof in good condition and repair, shall thereof; not commit or suffer permit any waste or deterioration of the Mortgaged Property; and shall not do commit, suffer or suffer permit any act to be done anything which will increase in or upon the risk Mortgaged Property in violation of fire any law, ordinance, regulation or other hazard requirement of governmental authority or any covenants, conditions or restrictions now or hereafter applicable to the Mortgaged Property or any part thereof. If Unless required by applicable law or permitted by the express terms of the Lease, Trustor shall not allow changes in the use of the Mortgaged Property or any part thereof is damaged by fire or any other causeProperty, Mortgagor shall give immediate written notice thereof to Lender. Lender or its representative is hereby authorized to enter upon and inspect the Mortgaged Property at any time during normal business hours. Mortgagor shall promptly comply with all present and future laws, ordinances, rules and regulations of any governmental authority affecting the Mortgaged Property or any part thereof, from the use being made as of the date of this Deed of Trust. If Trustor shall not initiate or acquiesce in any change in the zoning classification of the Property without Beneficiary's prior written consent. Trustor shall do all things and perform all acts, in a timely and proper manner, that from the character or any part use of the Mortgaged Property shall be damaged by fire are reasonably necessary or other casualty, Mortgagor shall promptly restore prudent to protect and preserve the Mortgaged Property to the equivalent of its original condition; value and if a part condition of the Mortgaged Property shall be damaged through condemnation, Mortgagor shall promptly restore, repair or alter the remaining portions of the Mortgaged Property in a manner satisfactory to Lender. Mortgagor shall not be obligated to so restore unless in each instance, Xxxxxx agrees to make available to Mortgagor (pursuant to a procedure satisfactory to Lender) any net insurance or condemnation proceeds actually received by Xxxxxx hereunder in connection with such casualty loss or condemnation, to the extent such proceeds are required to defray the expenses of such restoration; provided, however, that the insufficiency of any such insurance or condemnation proceeds to defray the entire expense of restoration shall in no way relieve Mortgagor of its obligation to restore. In the event all or any portion of the Mortgaged Property shall be damaged or destroyed by fire or other casualty or by condemnation, Xxxxxxxxx shall promptly deposit with Lender a sum equal to the amount by which the estimated cost of the restoration of the Mortgaged Property (as determined by Lender in its good faith judgment) exceeds the actual net insurance or condemnation proceeds received by Lender in connection with such damage or destructionProperty.

Care of Mortgaged Property. Mortgagor shall keep the buildings, parking areas, roads and walkways, recreational facilities, landscaping and all other improvements of any kind now or hereafter erected on maintain the Mortgaged Property or any part thereof in good condition and repair, shall not commit or suffer any waste to the Mortgaged Property, and shall not do comply with, or suffer cause to be done anything which will increase the risk complied with, all restrictive covenants, statutes, ordinances and requirements of fire or other hazard any governmental authority relating to the Mortgaged Property and the use thereof or any part thereof. If Mortgagor shall promptly repair, restore, replace or rebuild any part of the Mortgaged Property, now or hereafter encumbered by this Mortgage, which may be affected by any proceeding of the character referred to in Article 1.09 herein. No part of the Mortgaged Property, including, but not limited to, any building, structure, parking lot, driveway, landscape scheme, timber or other ground improvement, equipment or other property, now or hereafter conveyed as security by or pursuant to this Mortgage, shall be removed, demolished or materially altered without the prior written consent of Mortgagee. Mortgage shall complete, within a reasonable time, and pay for any building, structure or other improvement at any time in the process of construction on the property herein conveyed. Mortgagor shall not initiate, join in or consent to any change in any private restrictive covenant, zoning ordinance or other public or private restrictions limiting or defining the uses which may be made of the Mortgaged Property or any part thereof is damaged without the prior written consent of Mortgagee. Mortgagee and any persons authorized by fire or any other cause, Mortgagor Mortgagee shall give immediate written notice thereof to Lender. Lender or its representative is hereby authorized have the right to enter upon and inspect the Mortgaged Property at any time during normal business hours. Mortgagor shall promptly comply with all present reasonable times and future laws, ordinances, rules and regulations of any governmental authority affecting the Mortgaged Property or any part thereof. If all or any part of the Mortgaged Property access thereto shall be damaged by fire or other casualty, Mortgagor shall promptly restore the Mortgaged Property to the equivalent of its original condition; and if a part of the Mortgaged Property shall be damaged through condemnation, Mortgagor shall promptly restore, repair or alter the remaining portions of the Mortgaged Property in a manner satisfactory to Lender. Mortgagor shall not be obligated to so restore unless in each instance, Xxxxxx agrees to make available to Mortgagor (pursuant to a procedure satisfactory to Lender) any net insurance or condemnation proceeds actually received by Xxxxxx hereunder in connection with such casualty loss or condemnation, to the extent such proceeds are required to defray the expenses of such restoration; provided, however, permitted for that the insufficiency of any such insurance or condemnation proceeds to defray the entire expense of restoration shall in no way relieve Mortgagor of its obligation to restore. In the event all or any portion of the Mortgaged Property shall be damaged or destroyed by fire or other casualty or by condemnation, Xxxxxxxxx shall promptly deposit with Lender a sum equal to the amount by which the estimated cost of the restoration of the Mortgaged Property (as determined by Lender in its good faith judgment) exceeds the actual net insurance or condemnation proceeds received by Lender in connection with such damage or destructionpurpose.