Preservation and Maintenance of Mortgaged Property. With respect to the Mortgaged Property, Mortgagor covenants and agrees to keep, or cause to be kept, the same in good condition and repair, ordinary wear and tear excepted; subject to the provisions of the Loan Agreement, to pay, or cause to be paid, all taxes and assessments and other charges that may be levied or assessed upon the Mortgaged Property when they become due and payable; to pay, or cause to be paid, all debts for repair or improvements, now existing or hereafter arising, that may become liens upon or charges against the same; subject to the provisions of the Loan Agreement, to comply with or cause to be complied with all requirements of any governmental authority relating to the Mortgaged Property; and, subject to paragraph 4 of this Mortgage, to repair, restore, replace or rebuild promptly any part of the Mortgaged Property which may be damaged by any casualty whatsoever or which may be affected by any condemnation proceeding or the exercise of eminent domain. Mortgagor further covenants and agrees that the Mortgagor will not do or permit to be done anything which will impair or weaken the security of this Mortgage; nor initiate, join in, or consent to any change in any private restrictive covenant, zoning ordinance, or other public or private restrictions limiting or defining the uses which may be made of the Mortgaged Property or any part thereof except as allowed under Sections 7.1 and 13 of the Loan Agreement and as may be necessary to obtain the Final Plat (defined in the Loan Agreement) in each case other than the Permitted Liens. Except for a second lien for the benefit of an entity affiliated with Mortgagor, Mortgagor further covenants and agrees not to create, permit or suffer to exist any mortgage, security interest, lien or encumbrances of any kind or character to accrue or remain on the Mortgaged Property or any part thereof, without the prior written consent of Mortgagee, in each case other than Permitted Liens or as permitted pursuant to the Loan Agreement.
Preservation and Maintenance of Mortgaged Property. The Mortgagor: (i) shall keep the buildings and other Improvements now or hereafter erected on the Land (including specifically without limitation the Improvements and the Chattels) in safe and good repair and condition, ordinary depreciation and wear and tear excepted; (ii) shall, upon damage to or destruction of the Mortgaged Property or any part thereof by fire or other casualty, restore, repair, replace or rebuild the Mortgaged Property that is damaged or destroyed to the condition it was in immediately prior to such damage or destruction, whether or not any insurance proceeds are available or sufficient for such purpose; (iii) shall constantly maintain or cause to be maintained the parking and landscaped areas of the Mortgaged Property; (iv) shall not commit waste or permit impairment of deterioration of the Mortgaged Property; (v) shall not alter or permit the alteration by any tenant of the design or structural character of any building now or hereafter erected on the Land (including specifically without limitation the Improvements and the Chattels) or hereafter construct, or permit any tenant to construct, additions to existing buildings or additional buildings on the Land without the prior written consent of the Mortgagee which consent shall not be unreasonably withheld, delayed or conditioned; (vi) shall not remove from the Land any of the fixtures and personal property included in the Mortgaged Property unless the same is promptly replaced with property of at least equal value and utility, and this Mortgage becomes a valid first lien and security interest on such property.
Preservation and Maintenance of Mortgaged Property. Grantor covenants and agrees not to permit or commit any waste on or of the Mortgaged Property and to maintain the Mortgaged Property at all times in a state of good repair and condition; to comply with, or cause to be complied with, all statutes, ordinances, and requirements of any governmental or other authority relating to the Mortgaged Property; and to do or permit to be done to the Mortgaged Property nothing that will alter or change the use and character of the Mortgaged Property or in any way impair or weaken the security of this Deed of Trust or otherwise diminish the value of the Mortgaged Property. In case of the refusal, neglect, or inability of Grantor to repair and maintain the Mortgaged Property, Agent may, at its option, make such repairs or cause repairs to be made, and advance money to do so.
Preservation and Maintenance of Mortgaged Property. Trustor shall keep the Mortgaged Property and any and all improvements hereafter constructed thereon in good condition and repair, and shall not permit or commit any waste, impairment, or deterioration of the Mortgaged Property, or commit, suffer or permit any act upon or use of the Mortgaged Property in violation of law or applicable order of any governmental authority, whether now existing or hereafter enacted and whether foreseen or unforeseen, or in violation of any covenants, conditions or restrictions affecting the Mortgaged Property, or bring or keep any article upon any of the Mortgaged Property or cause or permit any condition to exist thereon which would be prohibited by or could invalidate any insurance coverage maintained, or required hereunder to be maintained, by Trustor on or with respect to any part of the Mortgaged Property, and Trustor further shall do all other acts which from the character or use of the Mortgaged Property may be reasonably necessary to protect the security hereof, the specific enumerations herein not excluding the general.
Preservation and Maintenance of Mortgaged Property. Mortgagor shall maintain the Mortgaged Property in accordance with the terms of the Credit Agreement.
Preservation and Maintenance of Mortgaged Property. With respect to the Mortgaged Property, Mortgagor covenants and agrees to keep, or cause to be kept, the same in good condition and repair, ordinary wear and tear excepted; subject to the provisions of the Loan Agreement, to pay, or cause to be paid, all taxes and assessments and other charges that may be levied or assessed upon the Mortgaged Property when they become due and payable; to pay, or cause to be paid, all debts for repair or improvements, now existing or hereafter arising, that may become liens upon or charges against the same; subject to the provisions of the Loan Agreement, to comply with or cause to be complied with all requirements of any governmental authority relating to the Mortgaged Property; and, subject to paragraph 4 of this Mortgage, to repair, restore, replace or rebuild promptly any part of the Mortgaged Property which may be damaged by any casualty whatsoever or which may be affected by any condemnation proceeding or the exercise of eminent domain. Mortgagor further covenants and agrees that the Mortgagor will not do or permit to be done anything which will impair or weaken the security of this Mortgage; nor initiate, join in, or consent to any change in any private restrictive covenant, zoning ordinance, or other public or private restrictions limiting or defining the uses which may be made of the Mortgaged Property or any part thereof except as allowed under Section 7.1 of the Loan Agreement, in each case other than the Permitted Liens. Except for the Mortgage made by Mortgagor in favor of American Republic Investment Co., a Delaware corporation, recorded on April 29, 2011, in the real property records of Xxxxxxxx County, New Mexico in Book 414, Page 10645, as Document Number 2011010645 (as modified and amended, the “ARI Mortgage”), which Mortgage shall be subordinated to the lien of this Mortgage, Mortgagor further covenants and agrees not to create, permit or suffer to exist any mortgage, security interest, lien or encumbrances of any kind or character to accrue or remain on the Mortgaged Property or any part thereof, without the prior written consent of Mortgagee, in each case other than Permitted Liens or as permitted pursuant to the Loan Agreement.
Preservation and Maintenance of Mortgaged Property. Mortgagor (i) shall keep the Building and other Improvements now or hereafter erected on the Land in safe and good repair and condition, ordinary wear and tear excepted, (ii) shall constantly maintain the parking and landscaped areas of the Mortgaged Property, (iii) shall not commit waste or permit impairment or deterioration of the Mortgaged Property, (iv) shall not alter or permit the alteration of the design or structural character of any Building now or hereafter erected on the Land or hereafter construct, or permit any tenant to construct, additions to the original Building or additional buildings on the Land without the prior written consent of the Mortgagee and (v) shall not remove from the Land any of the fixtures and personal property included in the Mortgaged Property unless the same is immediately replace with like property of at least equal value and utility, and this Mortgage becomes a valid first lien on such property.
Preservation and Maintenance of Mortgaged Property. Mortgagor (i) shall keep the building and other improvements now or hereafter erected on the premises in safe and good repair and condition, ordinary depreciation excepted; (ii) shall, upon damage to or destruction of the Mortgaged Property or any part thereof by fire or other casualty, restore, repair, replace or rebuild the Mortgaged Property that is damaged or destroyed to the condition it was in immediately prior to such damage or destruction, provided that insurance proceeds are available or sufficient for such purpose; (iii) shall constantly maintain the parking and landscaped areas of the Mortgaged Property in a reasonable state of repair; (iv) shall not commit waste or permit impairment or deterioration of the Mortgaged Property; (v) shall not alter the design or structural character of any building now or hereafter erected on the Real Estate or hereafter construct additions to existing buildings or additional buildings on the Real Estate without the prior written consent of the Mortgagee; and (vi) shall not remove from the Real Estate any of the fixtures included in the Mortgaged Property unless the same is immediately replaced with property of at least equal value and utility, and this Mortgage becomes a valid first lien on such property.
Preservation and Maintenance of Mortgaged Property. Borrower: (a) shall not commit waste or permit impairment or deterioration of the Mortgaged Property and shall
Preservation and Maintenance of Mortgaged Property. The Mortgagor shall keep the buildings and other improvements now or hereafter erected on the Land in good repair and condition, ordinary depreciation excepted, and shall provide all utility services necessary for the operation and preservation of the Mortgaged Property. The Mortgagor shall commit or permit no waste and unless the Mortgaged Property primarily consists of a single family dwelling or a duplex or other similar residential dwelling designed to be inhabited by no more than one or two families, shall not alter the design or structural character of any building now or hereafter erected on the Land without the prior written consent of the Mortgagee and in no event shall the Mortgagor do any act or thing which would unduly impair or depreciate the value of the Mortgaged Property. The Mortgagor shall not abandon the Mortgaged Property. The Mortgagor shall comply with all present and future laws, ordinances, regulations and requirements of any governmental body applicable to the Mortgaged Property and to the occupancy and operation thereof. If this Mortgage is on a condominium, the Mortgagor shall perform all of the Mortgagor's obligations under the Apartment Ownership Act of the State of Minnesota, the declaration of condominium, the by-laws and the regulations, if any, issued in accordance with the declaration or by-laws, or both. If this Mortgage is on a town house, the Mortgagor shall perform all of the Mortgagor's obligations under any and all applicable restrictions, articles of incorporation, by-laws and other documents pertaining to the town house development.
