Common use of LENDER’S RIGHT TO PERFORM BORROWER’S OBLIGATIONS Clause in Contracts

LENDER’S RIGHT TO PERFORM BORROWER’S OBLIGATIONS. In the event that Borrower shall fail to purchase or maintain insurance, or to pay any tax, assessment, government charge or levy, except as the same may be otherwise permitted hereunder, or in the event that any lien, encumbrance or security interest prohibited hereby shall not be paid in full or discharged pursuant to the terms of this Agreement, or in the event that Borrower shall fail to perform or comply with any other covenant, promise or Obligation to Lender hereunder or under any Loan Document, Lender may, but shall not be required to, perform, pay, satisfy, discharge or bond the same for the joint and several account of Borrower, and all monies so paid by Lender, including actual attorneys’ fees and reasonable expenses, shall be treated as an Advance hereunder to Borrower. Lender agrees that it shall endeavor to give Borrower prompt written notice of any such actions but Lender’s failure to give any such notice shall not impair or restrict Lender’s rights hereunder.

LENDER’S RIGHT TO PERFORM BORROWER’S OBLIGATIONS. In the event that Borrower shall fail to purchase or maintain insurance, or to pay any tax, assessment, government charge or levy, except as the same may be otherwise permitted hereunder, or in the event that any lien, encumbrance or security interest prohibited hereby shall not be paid in full or discharged pursuant to the terms of this Agreement, or in the event that Borrower shall fail to perform or comply with any other covenant, promise or Obligation to Lender hereunder or under any Loan Document, Lender may, but shall not be required to, perform, pay, satisfy, discharge or bond the same for the joint and several account of Borrower, and all monies so paid by Lender, including actual attorneys’ ' fees and reasonable expenses, shall be treated as an Advance hereunder to Borrower. Lender agrees that it shall endeavor to give Borrower prompt written notice of any such actions but Lender’s 's failure to give any such notice shall not impair or restrict Lender’s 's rights hereunder.