Common use of Litigation Involving Mortgaged Property Clause in Contracts

Litigation Involving Mortgaged Property. Mortgagor shall promptly notify Lender of any litigation, administrative procedure or proposed legislative action initiated against Mortgagor or the Mortgaged Property or in which the Mortgaged Property is directly or indirectly affected including any proceedings which seek to (i) enforce any lien against the Mortgaged Property, (ii) correct, change or prohibit any existing condition, feature or use of the Mortgaged Property, (iii) condemn or demolish the Mortgaged Property, (iv) take, by the power of eminent domain, any portion of the Mortgaged Property or any property which would damage the Mortgaged Property, (v) modify the zoning applicable to the Mortgaged Property, or (vi) otherwise adversely affect the Mortgaged Property. Mortgagor shall initiate or appear in any legal action or other appropriate proceedings when necessary to protect the Mortgaged Property from damage. Mortgagor shall, upon written request of Lender, represent and defend the interests of Lender in any proceedings described in this Section 1.21 or, at Lender’s election, pay the fees and expenses of any counsel retained by Lender to represent the interest of Lender in any such proceedings, in which event such fees and expenses shall be added to Mortgagor’s Liabilities and shall bear interest at the Default Rate.

Litigation Involving Mortgaged Property. Mortgagor Borrower shall promptly notify Lender Mortgagee of any litigationlitigation other than any suit for money damages in an amount not exceeding Two Million Five Hundred Thousand Dollars ($2,500,000.00) which, together with the cost of defending the same, is covered by insurance, and administrative procedure or proposed legislative action proceeding initiated against Mortgagor Borrower or the Mortgaged Property or in which the Mortgaged Property is directly or indirectly affected including any proceedings which seek to (i) enforce any lien against the Mortgaged Property, (ii) correct, change or prohibit any existing condition, feature or use of the Mortgaged Property, (iii) condemn or demolish the Mortgaged Property, (iv) take, by the power of eminent domain, any portion of the Mortgaged Property or any property which would damage the Mortgaged Property, (v) modify the zoning applicable to the Mortgaged Property, or (vi) otherwise adversely affect the Mortgaged Property. Mortgagor Borrower shall initiate or appear in any legal action or other appropriate proceedings when necessary to protect the Mortgaged Property from damage. Mortgagor Borrower shall, upon written request of LenderMortgagee, represent and defend the interests of Lender Mortgagee in any proceedings described in this Section 1.21 1.24 or, if Mortgagor is not defending with due diligence after notice from Mortgagee and the expiration of thirty (30) days, at Lender’s Mortgagee's election, pay the reasonable fees and expenses of any counsel retained by Lender Mortgagee to represent the interest of Lender Mortgagee in any such proceedings, in which event such fees and expenses shall be added to Mortgagor’s Liabilities and shall bear interest at the Default Rate.

Litigation Involving Mortgaged Property. Mortgagor shall promptly notify Lender Mortgagee of any material litigation, administrative procedure or proposed legislative action initiated against Mortgagor or the Mortgaged Property or in which the Mortgaged Property is directly or indirectly affected including any proceedings which seek to (i) enforce any lien against the Mortgaged Property, (ii) correct, change or prohibit any existing condition, feature or use of the Mortgaged Property, (iii) condemn or demolish the Mortgaged Property, (iv) take, by the power of eminent domain, any portion of the Mortgaged Property or any property which would damage the Mortgaged Property, (v) modify the zoning applicable to the Mortgaged Property, or (vi) otherwise adversely affect the Mortgaged Property. Except in the cases of Mortgagee's gross negligence or wilful misconduct, Mortgagor shall initiate or appear in any legal action or other appropriate proceedings when necessary to protect the Mortgaged Property from damage. Mortgagor shall, upon written request of LenderMortgagee, represent and defend the interests of Lender Mortgagee in any proceedings described in this Section 1.21 or, at Lender’s electionin cases where Mortgagor's appointed counsel is determined by Mortgagee, in its sole but reasonable discretion, to be insufficient, pay the reasonable fees and expenses of any counsel retained by Lender Mortgagee to represent the interest of Lender Mortgagee in any such proceedings, in which event such fees and expenses shall be added to Mortgagor’s Liabilities and shall bear interest at the Default RatePost-Maturity Rate and such fees and expenses, together with interest, shall be added to the Obligations.