Common use of Collection Costs and Fees Clause in Contracts

Collection Costs and Fees. Developer agrees to pay all costs, charges and expenses, including reasonable attorneys' fees, which are: incurred by the Land Bank in connection with preserving or protecting the Land Bank's rights and interests under this Agreement whether or not a legal action is filed; or incurred by the Land Bank in any action or proceeding to foreclose the Mortgage or to collect the Indebtedness and other amounts secured by the Mortgage. Such amounts together with interest as provided for herein shall be added to the Indebtedness then due and will be a lien on the Property, prior to any right or title to, interest in, or claim upon said Property attaching or accruing subsequent to the lien of the Mortgage, and will be deemed to be secured by the Mortgage.

Collection Costs and Fees. Developer Xxxxxxxxx agrees to pay all costs, charges and expenses, including reasonable attorneys' fees, which are: incurred by the Land Bank in connection with preserving or protecting the Land Bank's rights and interests under this Agreement whether or not a legal action is filed; or incurred by the Land Bank in any action or proceeding to foreclose the Mortgage or to collect the Indebtedness and other amounts secured by the Mortgage. Such amounts together with interest as provided for herein shall be added to the Indebtedness then due and will be a lien on the Property, prior to any right or title to, interest in, or claim upon said Property attaching or accruing subsequent to the lien of the Mortgage, and will be deemed to be secured by the Mortgage.