Payments by Mortgagee. In the event of default in the timely payment or performance of any of the Obligations, Mortgagee, at its option and without any duty on its part to determine the validity or necessity thereof, may pay the sums for which Mortgagor is obligated. Further, Mortgagee may pay such sums as Mortgagee deems appropriate for the protection and maintenance of the Property including, without limitation, sums to pay Impositions and other levies, assessments or liens, maintain insurance, make repairs, secure the Property, maintain utility service, intervene in any condemnation, make advances under a construction loan to enable completion of construction and pay attorneys’ fees and other fees and costs to enforce this Mortgage or protect the lien hereof (including foreclosure) or collect the Obligations, without limitation, including those incurred in any proceeding including bankruptcy or arbitration. Any amounts so paid shall bear interest at the default rate stated in the Note and shall be secured by this Mortgage.
Payments by Mortgagee. At any time during the term of this Mortgage, Mortgagee may, but shall not be required to, upon five days' notice to Mortgagor, pay the costs of all insurance and all expenses of protecting storing, warehousing, handling and maintaining the Barge, any and all excise, property, sales, use, gaming and other taxes imposed by any federal, state or local authority on the Barge, or any costs associated with maintaining the rank of this Mortgage. Mortgagor will promptly reimburse Mortgagee for any such payment unless (a) Mortgagor notifies Mortgagee within five days of receiving notice that Mortgagee intends to pay any such expenses that such expenses have been paid or are not due and (b) such expenses have, in fact, been paid or are not legally due. All sums so paid or incurred by Mortgagee for any of the foregoing and any and all other sums for which Mortgagor may become liable hereunder and all costs and expenses (including reasonable attorneys' fees, legal expenses and court costs) incurred by Mortgagee in enforcing or protecting any of its rights or remedies under this Mortgage, shall, together with interest thereon until paid at the rate of twelve percent (12.0%) per annum, and Mortgagee agrees to pay all of the foregoing sums promptly.
Payments by Mortgagee. The Mortgagor authorizes the Mortgagee in the Mortgagee's discretion to advance any sums necessary for the purpose of paying (i) insurance premiums, (ii) taxes, forced contributions, service charges, local assessments and governmental charges, (iii) any Liens or encumbrances affecting the Collateral (whether superior or subordinate to the Lien of this Mortgage) other than Permitted Liens, (iv) necessary repairs and maintenance expenses or (v) any other amounts which are covered by Section 4.16 ("Further Assurances") or which the Mortgagee deems necessary and appropriate to preserve the validity and ranking of this Mortgage, to cure any Defaults or to prevent the occurrence of any Default, or otherwise authorized by this Mortgage (collectively, the "Payments") of whatever kind; provided, however, that nothing herein contained shall be construed as making such Payments obligatory upon Mortgagee, or as making Mortgagee liable for any loss, damage, or injury resulting from the nonpayment thereof. The Mortgagor covenants and agrees that within five (5) days after demand therefor by the Mortgagee, the Mortgagor will repay the Payments to the Mortgagee, together with interest thereon at the rate of twelve (12%) percent per annum from the date incurred. All such Payments (and interest) shall be included in the Indebtedness secured hereby, subject to the maximum amount of the Indebtedness set forth above in Section 2.5 ("Maximum Amount").
Payments by Mortgagee. In the event Mortgagor neglects or refuses to pay the charges mentioned in Section 3 above, or fails to maintain the buildings and improvements and to comply with applicable regulations, as aforesaid, Mortgagee may do so, at its sole option, and add the cost thereof to the principal debt secured hereby, and collect the same as a part of the principal debt, together with interest thereon at the Default Rate, as provided in the Note secured hereby. In addition to any other debt or obligation secured hereby, this Mortgage shall secure unpaid balances of advances made with respect to the Mortgaged Property for the payment of taxes, assessments, insurance premiums, or costs incurred for the protection of the Mortgaged Property (including, without limitation, inspection costs).
Payments by Mortgagee. Mortgagee is authorized but not obligated (i) to pay all Taxes with accrued interest, penalties and charges, (ii) to pay the premiums for insurance required under the Loan Documents, (iii) to incur and pay reasonable expenses, including attorneys’ fees, in protecting its rights under the Loan Documents, and maintaining, protecting or managing the collateral securing the Obligations, (iv) to pay indebtedness secured by a mortgage of real estate or security interest in property or Fixtures included as part of the Premises, (v) to add all amounts paid or incurred for the above purposes to the principal amount of the Obligations, and (vi) to apply to the above purposes or to the repayment of amounts paid by Mortgagee, sums paid under the Loan Documents as interest or principal. The amounts paid by Mortgagee will bear interest at the highest rate payable under the Loan Documents and will be payable on demand.
Payments by Mortgagee. In the event Mortgagor neglects or refuses to pay the charges mentioned in Section 3 above, or fails to maintain the buildings and improvements and to comply with applicable regulations, as aforesaid, Mortgagee may do so, at its sole option, and add the cost thereof to the principal debt secured hereby, and collect the same as a part of the principal debt, together with interest thereon at the Default Rate, as provided in the Note secured hereby. In addition to any other debt or obligation secured hereby, this Mortgage shall secure unpaid balances of advances made with respect
