Collection of Rents. If the Lender collects the rents and the other revenues produced by the Hypothecated Property by exercising the rights granted to it by this Contract: it is not obliged to apply the rents or revenues collected to the payment of an amount which is not yet due under this Contract; it is not obliged to inform the Borrower of any irregularity in the payment of the rent or of the other revenues; it is not liable for any loss or damage resulting from non-collection of the rent or of any other revenues; it may grant a discharge for any rent or revenue which it collects; and it may charge management fees comparable to those prevalent in the market.
Appears in 9 contracts
Samples: Bridge Loan, Bridge Loan, Contract of Loan and Hypothecs
