Common use of Lien Law Clause in Contracts

Lien Law. Pursuant to Section 13 of the Lien Law of New York, Borrower will receive the advances secured by this Mortgage and will hold the right to receive such advances as a trust fund to be applied first for the purpose of paying the costs of completing the Improvements and will apply the same first to the payment of such costs before using any part of the total of the same for any other purpose. Borrower will indemnify and hold Lender harmless against any loss or liability, cost or expense, including, without limitation, any judgments, attorneys’ fees, costs of appeal bonds and printing costs, arising out of or relating to any proceeding instituted by any claimant alleging a violation by Borrower of any applicable lien law.

Lien Law. Pursuant to Section 13 of the Lien Law of New York, Borrower Mortgagor will receive the advances secured by this Mortgage and will hold the right to receive such advances as a trust fund to be applied first for the purpose of paying the costs of completing the Improvements any improvement and will apply the same first to the payment of such costs before using any part of the total of the same for any other purpose. Borrower Mortgagor will indemnify and hold Lender Mortgagee harmless against any loss or liability, cost or expense, including, without limitation, any judgments, attorneys’ fees, costs of appeal bonds and printing costs, arising out of or relating to any proceeding instituted by any claimant alleging a violation by Borrower Mortgagor of any applicable lien law.

Lien Law. Pursuant to Section 13 of the Lien Law of New York, Borrower Mortgagor will receive the advances secured by this Mortgage and will hold the right to receive such advances as a trust fund to be applied first for the purpose of paying the costs of completing the Improvements any improvement and will apply the same first to the payment of such costs before using any part of the total of the same for any other purpose. Borrower Mortgagor will indemnify and hold Lender Mortgagee harmless against any loss or liability, cost or expense, including, without limitation, any judgments, attorneys’ ' fees, costs of appeal bonds and printing costs, arising out of or relating to any proceeding instituted by any claimant alleging a violation by Borrower Mortgagor of any applicable lien law.

Lien Law. Pursuant to Section 13 of the New York Lien Law of New YorkLaw, Borrower will shall receive the advances secured by this Mortgage hereby and will shall hold the right to receive such advances as a trust fund to be applied first for the purpose of paying the costs cost of completing the Improvements any improvement and will shall apply the same such advances first to the payment of the cost of any such costs improvement on the Property before using any part of the total of the same for any other purpose. Borrower will indemnify and hold Lender harmless against any loss or liability, cost or expense, including, without limitation, any judgments, attorneys’ attorney's fees, costs of appeal bonds and printing costs, arising out of or relating to any proceeding instituted by any claimant alleging a violation by Borrower of any applicable lien law including, without limitation, any section of Article 3-A of the New York Lien law.