Common use of Indemnification by Mortgagor of Mortgagees Clause in Contracts

Indemnification by Mortgagor of Mortgagees. The Mortgagor agrees to in- demnify and save harmless each Mortgagee against any liability or damages which any of them may incur or sustain in the exercise and performance of their rightful powers and duties hereunder. For such reimbursement and indemnity, each Mortgagee shall be se- cured under this Mortgage in the same man- ner as the Notes and all such reimburse- ments for expense or damage shall be paid to the Mortgagee incurring or suffering the same with interest at the rate specified in Section [3.14] hereof. The Mortgagor’s obli- gation to indemnify the Mortgagees under this section and under Section [3.04] shall survive the satisfaction of the Notes, the re- conveyance or foreclosure of this Mortgage, the acceptance of a deed in lieu of fore- closure, or any transfer or abandonment of the Mortgaged Property.

Indemnification by Mortgagor of Mortgagees. The Mortgagor agrees to in- demnify and save harmless each Mortgagee against any liability or damages which any of them may incur or sustain in the exercise and performance of their rightful powers and duties hereunder. For such reimbursement and indemnity, each Mortgagee shall be se- cured under this Mortgage in the same man- ner as the Notes and all such reimburse- ments for expense or damage shall be paid to the Mortgagee incurring or suffering the same with interest at the rate specified in Section [3.14] hereof. The Mortgagor’s obli- gation to indemnify the Mortgagees under this section and under Section [3.04] shall survive the satisfaction of the Notes, the re- conveyance or foreclosure of this Mortgage, the acceptance of a deed in lieu of fore- closure, or any transfer or abandonment of the Mortgaged Property.fore-