Common use of Construction Liens Clause in Contracts

Construction Liens. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; provided, however, that, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower shall contest any such claim or demand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender may do so and any and all expenses incurred by Lender, together with interest thereon at the Default Interest Rate from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; provided, however, that, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower shall contest any such claim or demand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender may do so and any and all expenses incurred by Lender, together with interest thereon at the Default Interest Rate from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; provided, however, that, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any imminent danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower shall contest any such claim or demand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s requestreasonable request in the event of the filing of a mechanic’s lien, promptly provide a bond, letter of credit, cash deposit or other security reasonably satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender may do so and any and all reasonable expenses incurred by Lender, together with interest thereon at the Default Interest Rate from the date incurred by Lender due until actually paid by Borrower, shall be immediately paid by Borrower on within ten (10) days of demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; provided, however, that, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower shall contest any such claim or demand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender may do so and any and all expenses incurred by Lender, together with interest thereon at the Default Interest Rate from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Security Deed and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower Mortgagor shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; provided, however, that, Borrower that Mortgagor shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender Mortgagee and provided that neither the Mortgaged Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower Mortgagor shall contest any such claim or demand, Borrower Mortgagor shall promptly notify Lender Mortgagee of such contest and thereafter shall, upon LenderMortgagee’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender Mortgagee to protect LenderMortgagee’s interest and security should the contest be unsuccessful. If Borrower Mortgagor shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender Mortgagee may do so and any and all expenses incurred by LenderMortgagee, together with interest thereon at the Default Interest Rate from the date incurred by Lender Mortgagee until actually paid by BorrowerMortgagor, shall be immediately paid by Borrower Mortgagor on demand and shall be secured by this Mortgage and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower Grantor shall pay when due all claims and demands ------------------ of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises Land or the Improvements; provided, however, that, Borrower -------- ------- Grantor shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender Beneficiary and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower Grantor shall contest any such claim or demand, Borrower Grantor shall promptly notify Lender Beneficiary of such contest and thereafter shall, upon Lender’s Beneficiary's request, promptly provide a bond, cash deposit or other security satisfactory to Lender Beneficiary to protect Lender’s Beneficiary's interest and security should the contest be unsuccessful. If Borrower Grantor shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender Beneficiary may do so and any and all expenses incurred by LenderBeneficiary, together with interest thereon at the Default Interest Rate from the date incurred by Lender Beneficiary until actually paid by BorrowerGrantor, shall be immediately paid by Borrower Grantor on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the Debtindebtedness evidenced by the Note.

Construction Liens. Borrower Trustor shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; provided, however, that, Borrower Trustor shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender Beneficiary and provided that neither the Mortgaged Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower Trustor shall contest any such claim or demand, Borrower Trustor shall promptly notify Lender Beneficiary of such contest and thereafter shall, upon Lender’s Beneficiary's request, promptly provide a bond, cash deposit or other security satisfactory to Lender Beneficiary to protect Lender’s Beneficiary's interest and security should the contest be unsuccessful. If Borrower Trustor shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender Beneficiary may do so and any and all expenses incurred by LenderBeneficiary, together with interest thereon at the Default Interest Rate from the date incurred by Lender Beneficiary until actually paid by BorrowerTrustor, shall be immediately paid by Borrower Trustor on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower Borrowers shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for any of the Premises Individual Properties or the ImprovementsImprovements located thereon; provided, however, that, Borrower Borrowers shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the affected Individual Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event any Borrower shall contest any such claim or demand, the related Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If the related Borrower shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender may do so and any and all expenses incurred by Lender, together with interest thereon at the Default Interest Rate from the date incurred by Lender until actually paid by BorrowerBorrowers, shall be immediately paid by Borrower Borrowers on demand and shall be secured by this Mortgage the Debentures and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; provided, however, that, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower shall contest any such claim or demand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit deposit, title insurance or other security reasonably satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender may do so and any and all expenses incurred by Lender, together with interest thereon at the Default Interest Rate from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; providedprovided , howeverhowever , that, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower shall contest any such claim or demand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon Lender’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect Lender’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender may do so and any and all expenses incurred by Lender, together with interest thereon at the Default Interest Rate from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage and by all of the other Loan Documents securing all or any part of the Debt.

Construction Liens. Borrower shall pay when due all claims and demands of mechanics, materialmen, laborers and others for any work performed or materials delivered for the Premises or the Improvements; provided, however, that, Borrower shall have the right to contest in good faith any such claim or demand, so long as it does so diligently, by appropriate proceedings and without prejudice to Lender and provided that neither the Property nor any interest therein would be in any danger of sale, loss or forfeiture as a result of such proceeding or contest. In the event Borrower shall contest any such claim or demand, Borrower shall promptly notify Lender of such contest and thereafter shall, upon LenderLxxxxx’s request, promptly provide a bond, cash deposit or other security satisfactory to Lender to protect LenderLxxxxx’s interest and security should the contest be unsuccessful. If Borrower shall fail to immediately discharge or provide security against any such claim or demand as aforesaid, Lender may do so and any and all expenses incurred by LenderLxxxxx, together with interest thereon at the Default Interest Rate from the date incurred by Lender Lxxxxx until actually paid by BorrowerBxxxxxxx, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the Debt.