Common use of PROTECTION OF BENEFICIARY’S SECURITY Clause in Contracts

PROTECTION OF BENEFICIARY’S SECURITY. If Trustor fails to perform the covenants and agreements contained in this Deed of Trust or any other Loan Document, or if any action or proceeding is commenced which affects the Property or title thereto or the interest of Beneficiary therein, including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, Beneficiary at Beneficiary’s option may make such appearances, disburse such sums and take such action as Beneficiary deems reasonably necessary, in its sole discretion, to protect Beneficiary’s interest, including, but not limited to, (i) disbursement of attorney’s fees, (ii) entry upon the Property to make repairs, (iii) procurement of satisfactory insurance as provided herein, (iv) the payment of any taxes and/or assessments levied against the Property and then due and payable, and (v) payment of any other amounts contemplated in any of the Loan Documents. Any amounts disbursed by Beneficiary pursuant to this Section, with interest thereon, shall become additional indebtedness of Trustor secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of payment, such amounts shall be immediately due and payable upon demand and shall bear interest from the date of disbursement at the rate then applicable to principal under the Notes unless collection from Trustor of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Trustor under applicable law. Nothing contained in this Section or elsewhere in any of the Loan Documents shall require Beneficiary to incur any expense or take any action hereunder.

PROTECTION OF BENEFICIARY’S SECURITY. If Trustor fails to perform the covenants and agreements contained in this Deed of Trust or any other Loan DocumentInstrument, or if any action or proceeding is commenced which affects all or any portion of the Property or title thereto or the interest of Beneficiary therein, including, but not limited to, eminent domain, insolvency, building code enforcement, or arrangements or proceedings involving a bankrupt bankruptcy or decedent, Beneficiary then Beneficiary, at Beneficiary’s option option, may make such appearances, disburse such sums and take such action as Beneficiary deems reasonably necessary, in its sole discretion, to protect Beneficiary’s interest, including, but not limited toto (a) paying any sums secured by any undisclosed lien deemed to have priority over this Instrument, (ib) disbursement of attorney’s court fees, (iic) payment and disbursement of attorneys’ fees to protect Beneficiary’s interest in the Property and/or rights under this Instrument, (d) entry upon the Property to make repairsrepairs or otherwise to protect the same as security for the Secured Obligations, and (iiie) procurement of satisfactory insurance as provided herein, (iv) the payment of any taxes and/or assessments levied against the Property and then due and payable, and (v) payment of any other amounts contemplated in any of the Loan Documentsthis Instrument. Any amounts disbursed by Beneficiary pursuant to this Section, with interest thereon, Section 8 shall become additional indebtedness of Borrower and/or Trustor and shall be secured by this Deed of TrustInstrument. Unless Trustor and Beneficiary agree to other terms of payment, such amounts shall be immediately due and payable upon demand and shall bear interest from the date of disbursement at the default rate then applicable to principal under as provided in the Notes Note unless collection from Trustor of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Trustor under applicable law. Nothing Trustor hereby covenants and agrees that Beneficiary shall be subrogated to the lien of any mortgage or other lien discharged, in whole or in part, by any advances made by Beneficiary hereunder. The foregoing notwithstanding, nothing contained in this Section or elsewhere in any of the Loan Documents 8 shall require Beneficiary to incur any expense or take any action hereunder, and Beneficiary shall not incur any liability for either (i) failing to appear in any such proceedings or (ii) if Beneficiary does appear in any such proceedings, for failing to prosecute the matter to conclusion or for any errors in judgment made by Beneficiary in good faith.

PROTECTION OF BENEFICIARY’S SECURITY. If Trustor fails to perform the covenants and agreements contained in any of its Indebtedness under this Deed of Trust Security Instrument or any other Loan Document, or if any action or proceeding is commenced which affects purports to affect the Property Mortgaged Property, Beneficiary’s security or title thereto or the interest of Beneficiary thereinBeneficiary’s rights under this Security Instrument, including, but not limited to, including eminent domain, insolvency, code enforcement, civil or arrangements criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Beneficiary at Beneficiary’s option and upon notice to Trustor may make such appearances, disburse such sums and take such action actions as Beneficiary reasonably deems reasonably necessary, in its sole discretion, necessary to perform such Indebtedness of Trustor and to protect Beneficiary’s interest, including, but not limited to, including (i) disbursement of attorney’s feesfees and out of pocket expenses of attorneys, accountants, inspectors and consultants, (ii) entry upon the Mortgaged Property to make repairsrepairs or secure the Mortgaged Property, (iii) procurement of satisfactory the insurance as provided hereincoverages required under the Loan Agreement, and (iv) the payment of any taxes and/or assessments levied against the Property and then due and payable, and (v) payment of any other amounts contemplated in any of the Loan Documentswhich Trustor has failed to pay under Section 9. Any amounts disbursed by Beneficiary pursuant to under this SectionSection 7, with interest thereonor under any other provision of this Security Instrument, or under any of the other Loan Documents, that treats such disbursement as being made under this Section 7, shall be added to, and become additional indebtedness part of Trustor secured by this Deed of Trust. Unless Trustor and Beneficiary agree to other terms of paymentthe Indebtedness, such amounts shall be immediately due and payable upon demand and shall bear interest from the date of disbursement until paid at the rate then applicable to principal under the Notes unless collection from Trustor of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Trustor under applicable lawDefault Rate. Nothing contained in this Section or elsewhere in any of the Loan Documents 7 shall require Beneficiary to incur any expense or take any action hereunderaction.