Protection of City's Security Sample Clauses

Protection of City's Security. If Xxxxxxxx fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially affects City's interest in the Subject Premises, including but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankruptcy or decedent, then City at City's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect City's interest, including but not limited to, disbursement of reasonable attorney's fees and entry upon the Subject Premises to make repairs. Any amounts disbursed by City pursuant to this, or any other section of this Mortgage, with interest thereon at the legal rate of interest that a civil judgment would bear on such date of disbursement, shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and City agree to other terms of payment, such amounts shall be payable upon notice from City to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate stated. Nothing contained in this section shall require City to incur any expenses or do any act hereunder.
Sample 1
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