Common use of Payment of the City's Expenses Clause in Contracts

Payment of the City's Expenses. Whether or not the Loan is made, or all funds disbursed hereunder, the Borrower agrees to pay all expenses incurred by the Borrower in order to meet the City's requirements in connection with the Loan, including (without limitation) fees and expenses for origination; commitment fees, fees for appraisal, re-appraisal, survey, recording, and title insurance premiums; architect's and the City's attorneys' fees in connection with the making of the Loan and the enforcement of the City's rights hereunder. The City may pay any such amounts to be repaid by the Borrower immediately, and if Borrower shall not reimburse the City therefore within ten (10) days after written demand, the City may add the same to the unpaid principal of the Loan, or if the Loan was not made, any such unpaid amounts shall bear interest at the rate described in the Note.