Common use of Preservation and Maintenance of Mortgaged Property Clause in Contracts

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. The Mortgagor: Mortgagor (ia) shall keep the buildings and other Improvements 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; (iib) shall, upon damage to or destruction of the Mortgaged Property or any part thereof by fire or other casualty, restore, repair, replace 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; (iiic) shall constantly maintain or cause to be maintained the parking and landscaped areas of the Mortgaged Property; (ivd) shall not commit waste or permit impairment of or deterioration of the Mortgaged Property; (ve) shall not remove from the Land any of the fixtures properly 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 lien on such property; (f) shall generally operate and maintain the Mortgaged Property in a manner to insure rents are not below reasonable rates for the area and the type of tenant occupying the Mortgaged Property; and (g) 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 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. The Mortgagor: 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; , (iviii) shall not commit waste or permit impairment of or deterioration of the Mortgaged Property; , (viv) 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, construct additions to existing buildings or additional buildings on the Land Land, without the prior written consent of the Mortgagee which consent shall not be unreasonably withheldMortgagee, delayed or conditioned; (viv) shall not remove or permit removal from the Land of any of the fixtures and or personal property included in the Mortgaged Property unless the same is promptly immediately replaced with like property of at least equal value and utility, and this Mortgage becomes a valid first lien and security interest on such property, and (vi) shall not remove or permit removal from the Land of any buildings or other structures, nor do any act that would impair or lessen the value of the Mortgaged Property without the prior written consent of Mortgagee. Mortgagor covenants, warrants and represents that Mortgagor is in compliance with all present, and will promptly comply with all future laws, ordinances, rules and regulations of any governmental authority affecting the Mortgaged Property.