Common use of Maintenance and Use of Property Clause in Contracts

Maintenance and Use of Property. Borrower shall cause the Property to be maintained in a good and safe condition and repair. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property) without the consent of Lender. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express written consent of Lender.

Appears in 3 contracts

Samples: Loan Agreement (AmREIT, Inc.), Loan Agreement (Acadia Realty Trust), Loan Agreement (Bedford Property Investors Inc/Md)

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Maintenance and Use of Property. Borrower shall cause the Property to be maintained in a good and safe condition and repair. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property) without the consent of Lender. If under applicable zoning provisions the use of all Lender or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use as otherwise permitted pursuant to be discontinued or the nonconforming Improvement to be abandoned without the express written consent of Lender.Section

Appears in 1 contract

Samples: Loan Agreement (Lodging Fund REIT III, Inc.)

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Maintenance and Use of Property. Borrower shall cause the Property to be maintained in a good and safe condition and repair. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property) without the reasonable consent of Lender. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or the nonconforming Improvement to be abandoned without the express written consent of Lender.

Appears in 1 contract

Samples: Loan Agreement (New Plan Excel Realty Trust Inc)

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