Common use of LENDER'S EXPENDITURES Clause in Contracts

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In in effect, Borrower shall not, without the prior written consent of Lender:

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral Property or if Borrower Grantor fails to comply with any provision of this Agreement Assignment or any Related of the Loan Documents, including but not limited to BorrowerGrantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement Assignment or any Related of the Loan Documents, Lender on BorrowerGrantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral the Rents due under the Leases or the Property and paying all costs for insuring, maintaining and preserving any Collateralthe Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under then applicable Note Rate (including the Note or at Default Rate Margin, as defined in the highest rate authorized by lawNote), from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness under the Note and secured hereby, shall accrue interest at the then applicable Note Rate (including the Default Rate Margin), and, at Lender’s 's option, will will: (Aa) be payable on demand; (Bb) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1i) the term of any applicable insurance policy; or (2ii) the remaining term of the Note; or (Cc) be treated as a balloon payment which will be due and payable at the Note’s 's maturity. If The Assignment also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender is required by law to give Borrower notice before or after Lender makes may be entitled upon an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before Event of Default under any of the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:Loan Documents.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s interest in the Collateral or if Borrower fails to comply with any provision of if this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall still not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all BUSINESS LOAN AGREEEMENT (Continued) 8 Loan No. XXXXXXX costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be by payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due either during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s interest in the Collateral Property or if Borrower Grantor fails to comply with any provision of this Agreement Assignment or any Related Documents, including but not limited to BorrowerGrantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement Assignment or any Related Documents, Lender on BorrowerGrantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral the Rents or the Property and paying all costs for insuring, maintaining and preserving any Collateralthe Property. All such expenditures incurred or paid by Lender lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity. The Assignment also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. If Lender is required by law to give Borrower Grantor notice before or after Lender makes an expenditure, Borrower Grantor agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s 's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s 's behalf may (but shall not be obligated to) } take any action that Lender deems appropriate, including but not limited to discharging or discharging'or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender’s 's option, will (A) be payable on demand; (B) } be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s 's maturity. If Lender is required by law !aw to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) } days before the expenditure is made or notice delivered two (2) } days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In in effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. Borrower recognizes and agrees that Lender may incur certain expenses in connection with Lender's exercise of rights under this Agreement. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s 's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s 's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances Encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral, including without limitation, the purchase of insurance protecting only Lender's interest in any Collateral. Lender may further take such other action or actions and incur such additional expenditures as Lender may deem to be necessary and proper to cure or rectify any actions or inactions on Borrower's part as may be required under this Agreement. Nothing under this Agreement or otherwise shall obligate Lender to take any such actions or to incur any such additional expenditures on Borrower's behalf, or as making Lender in any way responsible or liable for any loss, damage, or injury to any Collateral, to Borrower, or to any other person or persons, resulting from Lender's election not to take such actions or to incur such additional expenses. In addition, Lender's election to take any such actions or to incur such additional expenditures shall not constitute a waiver or forbearance by Lender of any Event of Default under this Agreement. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender’s 's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s 's maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s Grantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender’s 's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s 's maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. If Lender is required by law to give Borrower Grantor notice before or after Lender makes an expenditure, Borrower Grantor agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s interest in the Collateral Property or if Borrower Grantor fails to comply with any provision of this Agreement Mortgage or any Related Documents, including but not limited to BorrowerGrantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement Mortgage or any Related Documents, Lender on BorrowerGrantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral the Property and paying all costs for insuring, maintaining and preserving any Collateralthe Property. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity. The Mortgage also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. If Lender is required by law to give Borrower Grantor notice before or after Lender makes an expenditure, Borrower Grantor agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral or if Borrower fails fads to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s 's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s 's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. Collateral All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower. Borrower All such expenses will become a part of the Indebtedness and, at et Lender’s 's option, will (A) be payable on demand; , (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or . (2) the remaining term of the Note; , or (C3) be treated as a balloon payment which will be due and payable at the Note’s maturity. If 's maturity Any Collateral also will secure payment of these amounts, Such right shall be in addition to all other rights and remedies to which Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. may be entitled upon Default NEGATIVE COVENANTS. COVENANTS Borrower covenants and agrees with Lender that while this Agreement is In in effect, Borrower shall not, without the prior written consent of Lender:. Capital Expenditures Make or contract to make capital expenditures, including leasehold improvements, in any fiscal year in excess of $800,000.00 or incur liability for rentals of property (including both real and personal property) in an amount which, together with capital expenditures, shall in any fiscal year exceed such sum

LENDER'S EXPENDITURES. If (i) any action or proceeding is commenced or any lien or claim of lien is asserted that would could materially affect Lender’s interest in any of the Collateral Collateral, or if (ii) Borrower fails to comply in any material respect with any provision of this Agreement or any Related DocumentsDocument, including including, but not limited to to, Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related DocumentsDocument, then Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender reasonably deems appropriate, including including, but not limited to to, discharging or paying all taxes, liens, claims of lien, security interests, encumbrances encumbrances, and other claims, claims at any time levied or placed on any Collateral and paying all costs for insuring, maintaining maintaining, and preserving any Collateral. All such expenditures reasonable out-of-pocket expenses actually incurred or paid by Lender will (i) be considered expenses incurred for such purposes will then the preservation of the Collateral, (iii) become part of the Indebtedness, (iii) bear interest at the rate charged under the Note or at the highest rate authorized by law, from and including the date incurred or paid by Lender to the date of repayment by Borrower, and (iv) be secured by the Security Instruments. All such expenses will become a part of the Indebtedness andincurred or paid by Lender will, at Lender’s option, will (Ai) be payable on demand; , (Bii) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) over the remaining term of the Note; , or (Ciii) be added to the balance of the Note and be treated as a balloon payment which will be due and payable at the Note’s maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s 's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender lender on Borrower’s 's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by lawincluding any default interest rate, from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness indebtedness and, at Lender’s 's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; : or (2) the remaining term of the Note; : or (Cc) be treated as a balloon payment which will be due and payable at the Note’s 's maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. Grantor recognizes and agrees that Lender may incur certain expenses in connection with Lender’s exercise of rights under this Agreement. If any action or proceeding is commenced that would materially affect Lender’s interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances Encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving the Collateral, including but without limitation, the purchase of insurance protecting only Lender’s interest in the Collateral. Lender may further take such other action or actions and incur such additional expenditures as Lender may deem to be necessary and proper to cure or rectify any actions or inactions on Grantor’s part as may be required under this Agreement. Nothing under this agreement or otherwise shall obligate Lender to take any such actions or to incur any such additional expenditures on Grantor’s behalf, or as making Lender in any way responsible or liable for any loss, damage, or injury to the Collateral, to Grantor, or to any other person or persons, resulting from Lender’s election not to take such actions or to incur such additional expenses. In addition, Lender’s election to take any such actions or to incur such additional expenditures shall not constitute a waiver of forebearance by Lender of any Event of Default under this Agreement. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity. If The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:may be entitled upon Default.

LENDER'S EXPENDITURES. Borrower recognizes and agrees that Lender may incur certain expenses in connection with Lender’s exercise of rights under this Agreement. If any action or proceeding is commenced that would materially affect Lender’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances Encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral, including without limitation, the purchase of insurance protecting only Lender’s interest in any Collateral. Lender may further take such other action or actions and incur such additional expenditures as Lender may deem to be necessary and proper to cure or rectify any actions or inactions on Borrower’s part as may be required under this Agreement. Nothing under this Agreement or otherwise shall obligate Lender to take any such actions or to incur any such additional expenditures on Borrower’s behalf, or as making Lender in any way responsible or liable for any loss, damage, or injury to any Collateral, to Borrower, or to any other person or persons, resulting from Lender’s election not to take such actions or to incur such additional expenses. In addition, Lender’s election to take any such actions or to incur such additional expenditures shall not constitute a waiver or forbearance by Lender of any Event of Default under this Agreement. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that xxxx would materially affect Lender’s 's interest in the Collateral or if Borrower fails to comply with any xxxx xny provision of this Agreement or any Related Documents, including but not limited to Borrower’s 's failure to discharge or pay when due any amounts amounts. Borrower is required to discharge or pay under this Agreement or any Related Documents, . Lender on Borrower’s 's behalf may (but shall not be obligated to) take any action that actixx xxxx Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower. All such expenses will become a part of the Indebtedness andindebtednesx xxx, at xt Lender’s 's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s 's maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. , Borrower covenants and agrees with Lender that while this Agreement is In in effect, . Borrower shall not, not without the prior written consent of Lender:

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s interest in the Collateral or if Borrower it Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to BorrowerGrantor’s failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on BorrowerGrantor’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity. The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. If Lender is required by law to give Borrower Grantor notice before or after Lender makes an expenditure, Borrower Grantor agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s 's failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s 's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by Borrower, provided however, Lender shall not pay any taxes, liens or charges if the legality of the same shall be contested by Borrower in good faith by appropriate proceedings in accordance with the terms hereof; and so long as such lien enforcement is stayed pending such proceedings and Borrower establishes appropriate reserves in accordance with GAAP. All such expenses will become a part of the Indebtedness and, at Lender’s 's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s 's maturity. If Lender is required by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s Grantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any Collateral. the Collateral All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender’s option, and will (A) be payable on demand; . The Collateral also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender may be entitled upon Default. REINSTATEMENT OF SECURITY INTEREST. If payment is made by Grantor, whether voluntarily or otherwise, or by guarantor or by any third party, on the Indebtedness and thereafter Lender is forced to remit the amount of that payment (A) to Grantor's trustee in bankruptcy or to any similar person under any federal or state bankruptcy law or law for the relief of debtors, (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term by reason of any applicable insurance policy; judgment, decree or (2) the remaining term order of the Note; any court or administrative body having jurisdiction over Lender or any of Lender's property, or (C) by reason of any settlement or compromise of any claim made by Lender with any claimant (including without limitation Grantor), the Indebtedness shall be treated considered unpaid for the purpose of enforcement of this Agreement and this Agreement shall continue to be effective or shall be reinstated, as a balloon payment which the case may be, notwithstanding any cancellation of this Agreement or of any note or other instrument or agreement evidencing the Indebtedness and the Collateral will be due and payable at continue to secure the Note’s maturity. If Lender is required amount repaid or recovered to the same extent as if that amount never had been originally received by law to give Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five (5) days before the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficientLender, and that notice within sixty (60) days after Grantor shall be bound by any judgment, decree, order, settlement or compromise relating to the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while Indebtedness or to this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:Agreement.

LENDER'S EXPENDITURES. If any action or proceeding is commenced that would materially affect Lender’s 's interest in the Collateral or if Borrower Grantor fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s Grantor's failure to discharge or pay when due any amounts Borrower Grantor is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s Grantor's behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any the Collateral and paying all costs for insuring, maintaining and preserving any the Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note or at the highest rate authorized by law, from the date incurred or paid by Lender to the date of repayment by BorrowerGrantor. All such expenses will become a part of the Indebtedness and, at Lender’s 's option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s 's maturity. If The Agreement also will secure payment of these amounts. Such right shall be in addition to all other rights and remedies to which Lender is required by law may be entitled upon Default. When delay of expenditure will not materially affect Lender's interest in the Collateral, Lender agrees to give provide Borrower notice before or after Lender makes an expenditure, Borrower agrees that notice sent by regular mail at least five fifteen (515) days before notice of its intent to incur costs for which Borrower will be responsible under the expenditure is made or notice delivered two (2) days before the expenditure is made is sufficient, and that notice within sixty (60) days after the expenditure is made is reasonable. NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that while terms of this Agreement is In effect, Borrower shall not, without the prior written consent of Lender:Agreement.