Common use of Mortgagee's Right to Perform Under Leases Clause in Contracts

Mortgagee's Right to Perform Under Leases. In the event Mortgagor fails to perform, comply with or discharge any obligations of Mortgagor under any lease or should Mortgagee become aware of or be notified by any tenant under any lease of a failure on the part of Mortgagor to so perform, comply with or discharge its obligations under said lease, Mortgagee may, but shall not be obligated to, and without demand upon Mortgagor, and without waiving or releasing Mortgagor from any obligation contained in this Mortgage, remedy such failure. Mortgagor shall pay to Mortgagee upon demand all sums incurred by Mortgagee in remedying any such failure together with interest from the date of advance by Mortgagee at the rate equal to that as specified in the Note. No such advance shall be deemed to relieve Mortgagor from any default hereunder.

Mortgagee's Right to Perform Under Leases. In Should the event Mortgagor fails fail to perform, comply with or discharge any obligations of Mortgagor under any lease or should the Mortgagee become aware of or be notified by any tenant under any lease of a failure on the part of Mortgagor to so perform, comply with or discharge its obligations under said lease, Mortgagee may, but shall not be obligated to, and without further demand upon the Mortgagor, and without waiving or releasing Mortgagor from any obligation contained in this MortgageMortgage contained, remedy such failure. , and the Mortgagor shall pay agrees to Mortgagee repay upon demand all sums incurred by the Mortgagee in remedying any such failure together with interest from the date of advance by Mortgagee at the then rate equal to that as specified in effect on the Note. No All such sums, together with interest as aforesaid shall become so much additional Indebtedness Secured Hereby, but no such advance shall be deemed to relieve the Mortgagor from any default hereunder.