Mortgagor’s Covenants. 4.1 Mortgagor will pay or perform the Obligations promptly when due in accordance with the Agreements. Mortgagor will do and perform every act required of it by the Agreements at the time or times and in the manner specified. 4.2 Mortgagor will not sell, assign, lease, exchange, transfer, convey or otherwise dispose of all or any portion of the Mortgaged Property or any interest therein. 4.3 Mortgagor will not create, incur, assume, or permit to exist any judgment, lien, or other encumbrance against all or any portion of the Mortgaged Property, except for (a) liens in favor of Mortgagee; (b) liens for taxes, assessments, or other governmental charges not yet due; and (c) any other liens specifically permitted by Mortgagee in writing. 4.4 Mortgagor will maintain, preserve, and keep the Mortgaged Property at all times in good repair, working order and condition and will, from time to time, make all necessary repairs and improvements to the Mortgaged Property. 4.5 Mortgagor will observe and comply with all laws, statutes, codes, acts, ordinances, orders, judgments, decrees, injunctions, rules, regulations, certificates, permits, licenses, authorizations, directions, and requirements of all federal, state, parish, municipal and other governments, departments, commissions, boards, courts, authorities, officials and officers domestic or foreign, applicable to Mortgagor or to the Mortgaged Property. 4.6 Mortgagor will pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed on it or on its income or on the Mortgaged Property, as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a lien upon any or all of the Mortgaged Property. Mortgagor shall notify Mortgagee immediately if the Mortgaged Property, or any part thereof, becomes subject to seizure by any person other than Mortgagee. Mortgagor shall deliver to Mortgagee proof of payment of all real estate taxes and assessments before they become delinquent within 10 days after the payment thereof. 4.7 If any governmental authority shall impose any taxation of mortgages or the obligations they secure, Mortgagor agrees to pay such governmental taxes, assessments or charges either to the governmental authority or to Mortgagee, as provided by law. 4.8 Mortgagor will permit any officer, employee or agent of Mortgagee to visit and inspect the Mortgaged Property, examine the books of record and accounts of Mortgagor, take copies and extracts therefrom and discuss the affairs, finances and accounts of Mortgagor with Mortgagor’s accountants and auditors, all at such reasonable times and on reasonable notice and as often as Mortgagee may reasonably desire. 4.9 Mortgagor will keep the lien of this Mortgage valid and unimpaired. Mortgagor will promptly (and in no event later than 30 days after written notice from Mortgagee) cure any defects in the creation, execution and delivery of this Mortgage. Mortgagor, at its expense, will promptly execute and deliver to Mortgagee on request, any and all other documents, agreements and instruments in compliance with or accomplishment of the covenants and agreements of Mortgagor in this Mortgage, to further evidence and more fully describe the Mortgaged Property or to more fully state the Obligations secured hereby, to perfect, protect or preserve any liens created pursuant to this Mortgage, or to make any recordings, to file any notices or to obtain any consents as may be necessary or appropriate in connection with the transactions contemplated by this Mortgage.
Appears in 6 contracts
Samples: Mortgage, Security Agreement and Assignment of Leases and Rents, Mortgage, Security Agreement and Assignment of Leases and Rents, Mortgage, Security Agreement and Assignment of Leases and Rents
Mortgagor’s Covenants. 4.1 Mortgagor will pay or perform the Obligations promptly when due in accordance with the Agreements. Mortgagor will do and perform every act required of it by the Agreements at the time or times and in the manner specified.
4.2 Mortgagor will not sell, assign, lease, exchange, transfer, convey or otherwise dispose of all or any portion of the Mortgaged Property or any interest therein.
4.3 Mortgagor will not create, incur, assume, or permit to exist any judgment, lien, or other encumbrance against all or any portion of the Mortgaged Property, except for (a) liens in favor of Mortgagee; (b) liens for taxes, assessments, or other governmental charges not yet due; and (c) any other liens specifically permitted by Mortgagee in writing.
4.4 Mortgagor will maintain, preserve, and keep the Mortgaged Property at all times in good repair, working order and condition and will, from time to time, make all necessary repairs and improvements to the Mortgaged Property.
4.5 Mortgagor will observe and comply with all laws, statutes, codes, acts, ordinances, orders, judgments, decrees, injunctions, rules, regulations, certificates, permits, licenses, authorizations, directions, and requirements of all federal, state, parish, municipal and other governments, departments, commissions, boards, courts, authorities, officials and officers domestic or foreign, applicable to Mortgagor or to the Mortgaged Property.
4.6 Mortgagor will pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed on it or on its income or on the Mortgaged Property, as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a lien upon any or all of the Mortgaged Property. Mortgagor shall notify Mortgagee immediately if the Mortgaged Property, or any part thereof, becomes subject to seizure by any person other than Mortgagee. Mortgagor shall deliver to Mortgagee proof of payment of all real estate taxes and assessments before they become delinquent within 10 days after the payment thereof.
4.7 If any governmental authority shall impose any taxation of mortgages or the obligations they secure, Mortgagor Xxxxxxxxx agrees to pay such governmental taxes, assessments or charges either to the governmental authority or to Mortgagee, as provided by law.
4.8 Mortgagor will permit any officer, employee or agent of Mortgagee to visit and inspect the Mortgaged Property, examine the books of record and accounts of MortgagorXxxxxxxxx, take copies and extracts therefrom and discuss the affairs, finances and accounts of Mortgagor with MortgagorXxxxxxxxx’s accountants and auditors, all at such reasonable times and on reasonable notice and as often as Mortgagee may reasonably desire.
4.9 Mortgagor will keep the lien of this Mortgage valid and unimpaired. Mortgagor will promptly (and in no event later than 30 days after written notice from Mortgagee) cure any defects in the creation, execution and delivery of this Mortgage. Mortgagor, at its expense, will promptly execute and deliver to Mortgagee on request, any and all other documents, agreements and instruments in compliance with or accomplishment of the covenants and agreements of Mortgagor in this Mortgage, to further evidence and more fully describe the Mortgaged Property or to more fully state the Obligations secured hereby, to perfect, protect or preserve any liens created pursuant to this Mortgage, or to make any recordings, to file any notices or to obtain any consents as may be necessary or appropriate in connection with the transactions contemplated by this Mortgage.
Appears in 1 contract
Samples: Mortgage, Security Agreement and Assignment of Leases and Rents
Mortgagor’s Covenants. 4.1 (1) The Mortgagor hereby covenants with the Mortgagee that:-
(a) the Mortgagor will pay or promptly and diligently perform the Obligations promptly when due in accordance and comply with the obligations on its part contained in the Sale and Purchase Agreements. , remedy any breach of its obligations under the Sale and Purchase Agreements, notify the Mortgagee of any breach of or default of any term of the Sale and Purchase Agreements and institute and prosecute all such proceedings as the Mortgagee may consider to be necessary or advisable to preserve or protect its interests and the interests of the Mortgagee under the Sale and Purchase Agreements;
(b) the Mortgagor shall promptly deposit all Sale Proceeds in the Special Account as and when the same is received;
(c) forthwith upon the execution of the Sale and Purchase Agreements, the Mortgagor shall deliver the Mortgagor's copy of such agreement(s) to the Mortgagee duly stamped, if required and all other documents and information relating to the Sale and Purchase Agreements, including but not limited to the Units sold, the particulars of the purchasers, and other monies payable therefor;
(d) forthwith upon the execution of any Sale and Purchase Agreement, the Mortgagor shall deliver to the Mortgagee a duly executed notice of this Assignment to the Purchaser, substantially in the form set out in Schedule A hereto;
(e) the Mortgagor shall not, without the prior written consent of the Mortgagee, agree to any amendment, modification or variation to the Sale and Purchase Agreements, agree to any extension of time or period for any matter in any of the Sale and Purchase Agreements, waive any of its rights thereunder or release the Purchasers from any of their obligations thereunder or waive any breach by the Purchasers of their obligations thereunder or consent to any act of the Purchasers as would otherwise constitute such a breach unless required by the Mortgagee so to do;
(f) the Mortgagor will take all steps necessary or advisable to obtain the due performance by each of the Purchasers of its obligations under the Sale and Purchase Agreement to which such Purchaser is a party;
(g) the Mortgagor will immediately notify the Mortgagee of any default or breach by the Purchasers of their obligations under any of the Sale and Purchase Agreements;
(h) the Mortgagor will not assert the doctrine of frustration or agree to any such assertion to render any of the Sale and Purchase Agreements void or terminate any Sale and Purchase Agreements by electing to treat a breach by any Purchaser as a repudiation of the Sale and Purchase Agreements without the written consent of the Mortgagee;
(i) save as provided in this Assignment, the Mortgagor shall not, and shall not threaten, purport or agree to, assign, pledge, transfer or encumber any of its rights, title and interest in the Assigned Property;
(j) the Mortgagor shall on demand execute any document and do any act or thing which the Mortgagee may specify for perfecting any security created or intended to be created by this Assignment and for obtaining the full benefits of this Assignment and of the rights and powers herein contained;
(k) the Mortgagor will at no time exercise any right or power conferred on the Mortgagor by any of the Sale and Purchase Agreements in any manner which is in the opinion of the Mortgagee adverse to the interests of the Mortgagee under this Assignment;
(l) the Mortgagor will not take or omit to take any action the taking or omission of which may result in any alteration, cancellation, termination, impairment or repudiation of this Assignment or any of the Sale and Purchase Agreements or of any of the rights created hereby or thereby;
(m) the Mortgagor will do or permit to be done each and perform every act or thing which the Mortgagee may from time to time require to be done for the purpose of enforcing the rights of the Mortgagee under this Assignment and the Sale and Purchase Agreements and will allow its name to be used as and when required of it by the Agreements at Mortgagee for that purpose;
(n) the time or times and in the manner specified.
4.2 Mortgagor will not selldo or omit to do, assignor suffer or permit, leaseanything to be done which might render any of the Sale and Purchase Agreements to be or become, exchangein any respect, transferinvalid, convey void or otherwise dispose voidable;
(o) the Mortgagor will forthwith send to the Mortgagee a copy of all material notices received or any portion given by it under the Sale and Purchase Agreements;
(p) the Mortgagor shall further provide the Mortgagee monthly with a report showing the amount of sale price received in respect of each Unit sold and the Mortgaged Property or any interest thereinamount outstanding in respect thereof.
4.3 (q) the Mortgagor will not create, incur, assume, create or permit to exist any judgmentequities between any of the Purchasers and itself which may be to the detriment of the Mortgagee;
(r) the Mortgagor will ensure that none of the Sale and Purchase Agreements contain any provision which would prohibit or restrict in any manner whatsoever any assignment, lien, transfer or other encumbrance against all or any portion disposition of its rights thereunder;
(s) the Mortgaged Property, except for (a) liens in favor of Mortgagee; (b) liens for taxes, assessments, or other governmental charges not yet due; and (c) any other liens specifically permitted by Mortgagee in writing.
4.4 Mortgagor will maintainproduce to the Mortgagee within seven (7) business days of its request, preserve, such information relating to the Sale and keep Purchase Agreements and the Mortgaged Property at all times in good repair, working order and condition and will, Sale Proceeds payable thereunder as the Mortgagee may from time to timetime require; and whenever it ascertains that it has become entitled to make any claim under any of the Sale and Purchase Agreements, make all necessary repairs it will forthwith inform the Mortgagee of such event and improvements provide to the Mortgaged Property.Mortgagee the salient details relating to such claim and produce to the Mortgagee copies of all the documents pertaining to such claim;
4.5 Mortgagor (t) subject to the XXX Stakeholding Rules, it will observe forthwith upon request by the Mortgagee or immediately upon the Purchasers depositing such part of the purchase price required to be deposited with the Singapore Academy of Law in accordance with the terms of the Sale and comply with all lawsPurchase Agreements, statutes, codes, acts, ordinances, orders, judgments, decrees, injunctions, rules, regulations, certificates, permits, licenses, authorizations, directionsgive notice to the Singapore Academy of Law of this Assignment in the form prescribed by the XXX Stakeholding Rules, and requirements at the same time request the Singapore Academy of all federal, state, parish, municipal and other governments, departments, commissions, boards, courts, authorities, officials and officers domestic or foreign, applicable Law to Mortgagor or to release the Mortgaged Property.
4.6 Mortgagor will pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed on it or on its income or on the Mortgaged Property, as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a lien upon any or all of the Mortgaged Property. Mortgagor shall notify Mortgagee immediately if the Mortgaged Property, Stakeheld Monies or any part thereofthereof in accordance with the XXX Stakeholding Rules, becomes subject by way of cheques drawn in favour of the Mortgagee for the account of the Mortgagor and procure an acknowledgement from the Singapore Academy of Law of its receipt of such notice, and will forthwith furnish the Mortgagee with a copy of each such notices and acknowledgements;
(u) it will in relation to seizure by any person other than Mortgagee. Mortgagor shall Clause 6(1)(t) above forthwith upon the deposit of the Stakeheld Monies with the Singapore Academy of Law, deliver to Mortgagee proof of payment and procure the delivery of all real estate taxes and assessments before they become delinquent within 10 days after validated Stakeholding Deposit Slips, confirmation reports, requisite forms whether given by the payment thereof.
4.7 If any governmental authority shall impose any taxation Purchasers, the Singapore Academy of mortgages Law or the obligations they secureMortgagor under the XXX Stakeholding Rules, Mortgagor agrees to pay and such governmental taxes, assessments or charges either to the governmental authority or to Mortgagee, as provided by law.
4.8 Mortgagor will permit any officer, employee or agent of Mortgagee to visit and inspect the Mortgaged Property, examine the books of record and accounts of Mortgagor, take copies and extracts therefrom and discuss the affairs, finances and accounts of Mortgagor with Mortgagor’s accountants and auditors, all at such reasonable times and on reasonable notice and as often as Mortgagee may reasonably desire.
4.9 Mortgagor will keep the lien of this Mortgage valid and unimpaired. Mortgagor will promptly (and in no event later than 30 days after written notice from Mortgagee) cure any defects in the creation, execution and delivery of this Mortgage. Mortgagor, at its expense, will promptly execute and deliver to Mortgagee on request, any and all other documents, agreements and instruments in compliance with or accomplishment of the covenants and agreements of Mortgagor in this Mortgage, to further evidence and more fully describe the Mortgaged Property or to more fully state the Obligations secured hereby, to perfect, protect or preserve any liens created pursuant to this Mortgage, or to make any recordings, to file any notices or to obtain any consents authorisations as may be necessary required in relation to the release of the Stakeheld Monies to the Mortgagor or appropriate the Mortgagee as the case may be, and all such other documents required by the Mortgagee to enable it to obtain the release of the Stakeheld Monies from the Singapore Academy of Law;
(v) it will forthwith notify the Mortgagee of any deduction made by the Purchasers or any of them in connection relation to the Stakeheld Monies or monies held by the Purchasers’ solicitors as stakeholders in accordance with the transactions contemplated terms of the Sale and Purchase Agreements, and forthwith upon request by this Mortgagethe Mortgagee deposit such sums equivalent to the amount deducted, in the Special Account; and
(w) it will comply with the provisions of the XXX Stakeholding Rules in relation to any Stakeheld Monies, and procure and ensure that the Purchasers comply with such rules.
(2) In Clause 6(1) above, where the prior written consent of the Mortgagee is required, such consent may be withheld by the Mortgagee at the Mortgagee's absolute discretion without the Mortgagee being required to provide any reason therefor.
Appears in 1 contract
Samples: Assignment of Sale Proceeds
Mortgagor’s Covenants. 4.1 Mortgagor will pay or perform the Obligations promptly when due in accordance with the Agreements. Mortgagor will do and perform every act required of it by the Agreements at the time or times and in the manner specified.
4.2 Mortgagor will not selldo or permit to be done to, assignin, lease, exchange, transfer, convey upon or otherwise dispose of all or about any portion of the Mortgaged Property Premises, anything that may in any manner materially impair the value thereof, or materially weaken, diminish or impair the security of this Mortgage. In furtherance of the foregoing:
(a) Mortgagor shall keep the Mortgaged Premises in good condition and repair, in all material respects, and not commit or permit the commission of any material waste of any kind whatsoever on the Mortgaged Premises or any interest therein.part thereof;
4.3 (b) Mortgagor shall promptly repair, restore or rebuild any buildings or improvements now or hereafter on the Mortgaged Premises which may become damaged or be destroyed by any cause whatsoever (excluding minor inconsequential damage costing less than Five Thousand Dollars ($5,000.00) to repair which does not materially impair the value or utility of the improvements), so that upon completion of the repair, restoration and rebuilding of said buildings and improvements there will not be any liens of any nature arising out of said repair, restoration and rebuilding, and the Mortgaged Premises will have a commercial value at least as great as the value of the Mortgaged Premises prior to such damage or destruction;
(c) Mortgagor shall not, directly or indirectly, without Mortgagee’s prior written consent, create, incur, assume, or permit to exist or assume any judgmentmortgage, lienpledge or other lien or claim for lien or encumbrance upon the Mortgaged Premises or any part thereto other than (i) the lien and security interest of Mortgagee as created by this Mortgage and any other documents evidencing, securing or referring to the Notes and (ii) the other Permitted Encumbrances;
(d) Mortgagor shall promptly comply, and use reasonable efforts to cause each lessee or other user of any part of the Mortgaged Premises to promptly comply, in all material respects, with (i) all laws, ordinances, regulations and orders of all public authorities having jurisdiction of the Mortgaged Premises and (ii) all restrictions of record pertaining to the Mortgaged Premises;
(e) Mortgagor shall not make any material alterations to the Mortgaged Premises without the prior written consent of Mortgagee;
(f) Mortgagor shall promptly notify Mortgagee in writing of (i) any material loss or damage to any part of the Mortgaged Premises, (ii) any material change, whether contemplated, pending or final, in the assessment of any part of the Mortgaged Premises by taxing authorities or in the zoning classification, (iii) the actual or threatened commencement of any proceedings under condemnation or eminent domain affecting any part of the Mortgaged Premises, including those proceedings relating to severance and consequential damage and change in grade of streets, copies of any and all papers served in connection with any such proceedings to be delivered to Mortgagee upon such service, and (iv) any other action, whether contemplated (when known to Mortgagor), pending or final, by any public authority or otherwise, that could materially affect the value of any part of the Mortgaged Premises;
(g) Mortgagor shall not suffer or permit any material change in the general nature of the occupancy of the Mortgaged Premises, without the prior written consent of Mortgagee;
(h) Mortgagor shall not initiate any material zoning reclassification, without the prior written consent of Mortgagee, excluding, however, variances and reclassifications consistent with Mortgagor’s use of the Mortgaged Premises;
(i) Mortgagor shall not make or permit any use of the Mortgaged Premises that could with the passage of time result in the creation of any right of use, or other encumbrance any claim of adverse possession or easement on, to or against all any part of the Mortgaged Premises in favor of any person or the public;
(j) Mortgagor shall not permit any portion of the Mortgaged Property, except Premises to be used for any unlawful purpose;
(ak) liens in favor of Mortgagee; (b) liens for taxes, assessments, or other governmental charges not yet due; and (c) any other liens specifically permitted by Mortgagor shall permit Mortgagee in writing.
4.4 Mortgagor will maintain, preserve, and keep to enter the Mortgaged Property Premises at all times in good repair, working order and condition and will, from any time to time, make all necessary repairs and improvements to the Mortgaged Propertyduring normal business hours.
4.5 Mortgagor will observe and comply with all laws, statutes, codes, acts, ordinances, orders, judgments, decrees, injunctions, rules, regulations, certificates, permits, licenses, authorizations, directions, and requirements of all federal, state, parish, municipal and other governments, departments, commissions, boards, courts, authorities, officials and officers domestic or foreign, applicable to Mortgagor or to the Mortgaged Property.
4.6 Mortgagor will pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed on it or on its income or on the Mortgaged Property, as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a lien upon any or all of the Mortgaged Property. Mortgagor shall notify Mortgagee immediately if the Mortgaged Property, or any part thereof, becomes subject to seizure by any person other than Mortgagee. Mortgagor shall deliver to Mortgagee proof of payment of all real estate taxes and assessments before they become delinquent within 10 days after the payment thereof.
4.7 If any governmental authority shall impose any taxation of mortgages or the obligations they secure, Mortgagor agrees to pay such governmental taxes, assessments or charges either to the governmental authority or to Mortgagee, as provided by law.
4.8 Mortgagor will permit any officer, employee or agent of Mortgagee to visit and inspect the Mortgaged Property, examine the books of record and accounts of Mortgagor, take copies and extracts therefrom and discuss the affairs, finances and accounts of Mortgagor with Mortgagor’s accountants and auditors, all at such reasonable times and on reasonable notice and as often as Mortgagee may reasonably desire.
4.9 Mortgagor will keep the lien of this Mortgage valid and unimpaired. Mortgagor will promptly (and in no event later than 30 days after written notice from Mortgagee) cure any defects in the creation, execution and delivery of this Mortgage. Mortgagor, at its expense, will promptly execute and deliver to Mortgagee on request, any and all other documents, agreements and instruments in compliance with or accomplishment of the covenants and agreements of Mortgagor in this Mortgage, to further evidence and more fully describe the Mortgaged Property or to more fully state the Obligations secured hereby, to perfect, protect or preserve any liens created pursuant to this Mortgage, or to make any recordings, to file any notices or to obtain any consents as may be necessary or appropriate in connection with the transactions contemplated by this Mortgage.
Appears in 1 contract
Mortgagor’s Covenants. 4.1 (1) The Mortgagor hereby covenants with the Mortgagee that:-
(a) the Mortgagor will pay or promptly and diligently perform the Obligations promptly when due in accordance and comply with the obligations on its part contained in the Sale and Purchase Agreements. , remedy any breach of its obligations under the Sale and Purchase Agreements, notify the Mortgagee of any breach of or default of any term of the Sale and Purchase Agreements and institute and prosecute all such proceedings as the Mortgagee may consider to be necessary or advisable to preserve or protect its interests and the interests of the Mortgagee under the Sale and Purchase Agreements;
(b) the Mortgagor shall promptly deposit all Sale Proceeds in the Project Account as and when the same is received;
(c) forthwith upon the execution of the Sale and Purchase Agreements, the Mortgagor shall deliver the Mortgagor's copy of such agreement(s) to the Mortgagee duly stamped, if required and all other documents and information relating to the Sale and Purchase Agreements, including but not limited to the Units sold, the particulars of the purchasers, and other monies payable therefor;
(d) forthwith upon the execution of any Sale and Purchase Agreement, the Mortgagor shall deliver to the Mortgagee a duly executed notice of this Assignment to the Purchaser, substantially in the form set out in Schedule A hereto;
(e) the Mortgagor shall not, without the prior written consent of the Mortgagee, agree to any amendment, modification or variation to the Sale and Purchase Agreements, agree to any extension of time or period for any matter in any of the Sale and Purchase Agreements, waive any of its rights thereunder or release the Purchasers from any of their obligations thereunder or waive any breach by the Purchasers of their obligations thereunder or consent to any act of the Purchasers as would otherwise constitute such a breach unless required by the Mortgagee so to do;
(f) the Mortgagor will take all steps necessary or advisable to obtain the due performance by each of the Purchasers of its obligations under the Sale and Purchase Agreement to which such Purchaser is a party;
(g) the Mortgagor will immediately notify the Mortgagee of any default or breach by the Purchasers of their obligations under any of the Sale and Purchase Agreements;
(h) the Mortgagor will not assert the doctrine of frustration or agree to any such assertion to render any of the Sale and Purchase Agreements void or terminate any Sale and Purchase Agreements by electing to treat a breach by any Purchaser as a repudiation of the Sale and Purchase Agreements without the written consent of the Mortgagee;
(i) save as provided in this Assignment, the Mortgagor shall not, and shall not threaten, purport or agree to, assign, pledge, transfer or encumber any of its rights, title and interest in the Assigned Property;
(j) the Mortgagor shall on demand execute any document and do any act or thing which the Mortgagee may specify for perfecting any security created or intended to be created by this Assignment and for obtaining the full benefits of this Assignment and of the rights and powers herein contained;
(k) the Mortgagor will at no time exercise any right or power conferred on the Mortgagor by any of the Sale and Purchase Agreements in any manner which is in the opinion of the Mortgagee adverse to the interests of the Mortgagee under this Assignment;
(l) the Mortgagor will not take or omit to take any action the taking or omission of which may result in any alteration, cancellation, termination, impairment or repudiation of this Assignment or any of the Sale and Purchase Agreements or of any of the rights created hereby or thereby;
(m) the Mortgagor will do or permit to be done each and perform every act or thing which the Mortgagee may from time to time require to be done for the purpose of enforcing the rights of the Mortgagee under this Assignment and the Sale and Purchase Agreements and will allow its name to be used as and when required of it by the Agreements at Mortgagee for that purpose;
(n) the time or times and in the manner specified.
4.2 Mortgagor will not selldo or omit to do, assignor suffer or permit, leaseanything to be done which might render any of the Sale and Purchase Agreements to be or become, exchangein any respect, transferinvalid, convey void or otherwise dispose voidable;
(o) the Mortgagor will forthwith send to the Mortgagee a copy of all material notices received or any portion given by it under the Sale and Purchase Agreements;
(p) the Mortgagor shall further provide the Mortgagee monthly with a report showing the amount of sale price received in respect of each Unit sold and the Mortgaged Property or any interest thereinamount outstanding in respect thereof.
4.3 (q) the Mortgagor will not create, incur, assume, create or permit to exist any judgmentequities between any of the Purchasers and itself which may be to the detriment of the Mortgagee;
(r) the Mortgagor will ensure that none of the Sale and Purchase Agreements contain any provision which would prohibit or restrict in any manner whatsoever any assignment, lien, transfer or other encumbrance against all or any portion disposition of its rights thereunder;
(s) the Mortgaged Property, except for (a) liens in favor of Mortgagee; (b) liens for taxes, assessments, or other governmental charges not yet due; and (c) any other liens specifically permitted by Mortgagee in writing.
4.4 Mortgagor will maintainproduce to the Mortgagee within seven (7) business days of its request, preserve, such information relating to the Sale and keep Purchase Agreements and the Mortgaged Property at all times in good repair, working order and condition and will, Sale Proceeds payable thereunder as the Mortgagee may from time to timetime require; and whenever it ascertains that it has become entitled to make any claim under any of the Sale and Purchase Agreements, make all necessary repairs it will forthwith inform the Mortgagee of such event and improvements provide to the Mortgaged Property.Mortgagee the salient details relating to such claim and produce to the Mortgagee copies of all the documents pertaining to such claim;
4.5 Mortgagor (t) subject to the XXX Stakeholding Rules, it will observe forthwith upon request by the Mortgagee or immediately upon the Purchasers depositing such part of the purchase price required to be deposited with the Singapore Academy of Law in accordance with the terms of the Sale and comply with all lawsPurchase Agreements, statutes, codes, acts, ordinances, orders, judgments, decrees, injunctions, rules, regulations, certificates, permits, licenses, authorizations, directionsgive notice to the Singapore Academy of Law of this Assignment in the form prescribed by the XXX Stakeholding Rules, and requirements at the same time request the Singapore Academy of all federal, state, parish, municipal and other governments, departments, commissions, boards, courts, authorities, officials and officers domestic or foreign, applicable Law to Mortgagor or to release the Mortgaged Property.
4.6 Mortgagor will pay and discharge promptly when due all taxes, assessments and governmental charges or levies imposed on it or on its income or on the Mortgaged Property, as well as all claims of any kind (including claims for labor, materials, supplies and rent) which, if unpaid, might become a lien upon any or all of the Mortgaged Property. Mortgagor shall notify Mortgagee immediately if the Mortgaged Property, Stakeheld Monies or any part thereofthereof in accordance with the XXX Stakeholding Rules, becomes subject by way of cheques drawn in favour of the Mortgagee for the account of the Mortgagor and procure an acknowledgement from the Singapore Academy of Law of its receipt of such notice, and will forthwith furnish the Mortgagee with a copy of each such notices and acknowledgements;
(u) it will in relation to seizure by any person other than Mortgagee. Mortgagor shall Clause 6(1)(t) above forthwith upon the deposit of the Stakeheld Monies with the Singapore Academy of Law, deliver to Mortgagee proof of payment and procure the delivery of all real estate taxes and assessments before they become delinquent within 10 days after validated Stakeholding Deposit Slips, confirmation reports, requisite forms whether given by the payment thereof.
4.7 If any governmental authority shall impose any taxation Purchasers, the Singapore Academy of mortgages Law or the obligations they secureMortgagor under the XXX Stakeholding Rules, Mortgagor agrees to pay and such governmental taxes, assessments or charges either to the governmental authority or to Mortgagee, as provided by law.
4.8 Mortgagor will permit any officer, employee or agent of Mortgagee to visit and inspect the Mortgaged Property, examine the books of record and accounts of Mortgagor, take copies and extracts therefrom and discuss the affairs, finances and accounts of Mortgagor with Mortgagor’s accountants and auditors, all at such reasonable times and on reasonable notice and as often as Mortgagee may reasonably desire.
4.9 Mortgagor will keep the lien of this Mortgage valid and unimpaired. Mortgagor will promptly (and in no event later than 30 days after written notice from Mortgagee) cure any defects in the creation, execution and delivery of this Mortgage. Mortgagor, at its expense, will promptly execute and deliver to Mortgagee on request, any and all other documents, agreements and instruments in compliance with or accomplishment of the covenants and agreements of Mortgagor in this Mortgage, to further evidence and more fully describe the Mortgaged Property or to more fully state the Obligations secured hereby, to perfect, protect or preserve any liens created pursuant to this Mortgage, or to make any recordings, to file any notices or to obtain any consents authorisations as may be necessary required in relation to the release of the Stakeheld Monies to the Mortgagor or appropriate the Mortgagee as the case may be, and all such other documents required by the Mortgagee to enable it to obtain the release of the Stakeheld Monies from the Singapore Academy of Law;
(v) it will forthwith notify the Mortgagee of any deduction made by the Purchasers or any of them in connection relation to the Stakeheld Monies or monies held by the Purchasers’ solicitors as stakeholders in accordance with the transactions contemplated terms of the Sale and Purchase Agreements, and forthwith upon request by this Mortgagethe Mortgagee deposit such sums equivalent to the amount deducted, in the Project Account; and
(w) it will comply with the provisions of the XXX Stakeholding Rules in relation to any Stakeheld Monies, and procure and ensure that the Purchasers comply with such rules.
(2) In Clause 6(1) above, where the prior written consent of the Mortgagee is required, such consent may be withheld by the Mortgagee at the Mortgagee's absolute discretion without the Mortgagee being required to provide any reason therefor.
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Samples: Assignment of Sale Proceeds