Common use of PROTECTION OF LENDER'S SECURITY Clause in Contracts

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 9 contracts

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (VMS National Properties Joint Venture), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (VMS National Properties Joint Venture), Multifamily Mortgage, Assignment of Rents and Security Agreement (VMS National Properties Joint Venture)

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PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-out of pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 4 contracts

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Wellsford Real Properties Inc), Multifamily Mortgage, Assignment of Rents and Security Agreement (Krupp Realty LTD Partnership Vii), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Maxus Realty Trust Inc)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Security Instrument or any other Loan DocumentDocument following the expiration of any applicable cure or grace period, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's ’s security or Lender's ’s rights under this Security Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's ’s option and upon notice to Borrower may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's ’s interest, including (1i) payment disbursement of fees and out-of-out of pocket expenses of attorneys, accountants, inspectors and consultants, (2ii) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3iii) procurement of the insurance coverages required by Section 19under the Loan Agreement, and (4iv) payment of amounts which Borrower has failed to pay under Sections 15 and 17Section 9. (b) Any amounts disbursed by Lender under this Section 12Section, or under any other provision of this Instrument Security Instrument, or under any of the other Loan Documents, that treats such disbursement as being made under this Section 12Section, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 4 contracts

Samples: Deed to Secure Debt and Security Agreement, Mortgage and Security Agreement, Deed to Secure Debt and Security Agreement (CNL Healthcare Trust, Inc.)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default RateDEFAULT RATE", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 4 contracts

Samples: Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Vinings Investment Properties Trust/Ga), Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (Vinings Investment Properties Trust/Ga), Multifamily Deed of Trust (Cornerstone Realty Income Trust Inc)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under the covenants and agreements contained in this Instrument or any other Loan DocumentInstrument, or if any action or proceeding is commenced which purports to affect affects the Mortgaged PropertyProperty or title thereto or the interest of Lender therein, Lender's security or Lender's rights under this Instrumentincluding, including but not limited to, eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations arrangements or proceedings involving a bankrupt or decedent, then Lender Lender, at Lender's option option, may make such appearances, disburse such sums and take such actions action as Lender reasonably deems necessary to perform such obligations of Borrower and necessary, in its sole discretion, to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneysincluding, accountants, inspectors and consultantsbut not limited to, (2i) disbursement of attorney's fees, (ii) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Propertyrepairs, (3iii) procurement of satisfactory insurance as provided herein, (iv) the insurance required by Section 19payment of any Taxes then due and payable, and (4v) payment of any other amounts which Borrower has failed to pay under Sections 15 and 17. (b) contemplated in any of the Loan Documents. Any amounts disbursed by Lender under pursuant to this Section 12Section, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12with interest thereon, shall be added tobecome additional indebtedness of Borrower secured by this Instrument. Unless Borrower and Lender agree to other terms of payment, and become part of, the principal component of the Indebtedness, such amounts shall be immediately due and payable upon demand and shall bear interest from the date of disbursement until paid at the "Default Rate"rate then applicable to principal under the Note unless collection from Borrower of interest at such rate would be contrary to applicable law, as defined in which event such amounts shall bear interest at the Note. (c) highest rate which may be collected from Borrower under applicable law. Nothing contained in this Section 12 or elsewhere in any of the Loan Documents shall require Lender to incur any expense or take any actionaction hereunder.

Appears in 4 contracts

Samples: Mortgage, Assignment of Leases and Rents and Security Agreement (Acadia Realty Trust), Mortgage, Assignment of Leases and Rents and Security Agreement (Acadia Realty Trust), Open End Mortgage, Assignment of Leases and Rents and Security Agreement (Acadia Realty Trust)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-out of pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default RateDEFAULT RATE", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 3 contracts

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Sunrise Assisted Living Inc), Multifamily Mortgage, Assignment of Rents and Security Agreement (Sunrise Assisted Living Inc), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Wellsford Real Properties Inc)

PROTECTION OF LENDER'S SECURITY. If (a) If Borrower fails to pay the Indebtedness or to perform any of its obligations under this Instrument or any other Loan Documentthe Obligations, or if (b) any action or proceeding is commenced which purports to materially adversely affects or could materially adversely affect the Mortgaged Property, Lender's security Property or Lender's rights under this Instrumentinterest therein, including eminent domainany loss, insolvencydamage, code enforcementcost, civil expense or criminal forfeiture, enforcement liability incurred by Lender with respect to (i) any environmental matters relating to the Property or (ii) the preparation of Hazardous Materials Laws, fraudulent conveyance the commencement or reorganizations defense of any action or proceedings involving a bankrupt proceeding or decedentany threatened action or proceeding affecting the Loan Documents or the Property, then Lender Lender, at Lender's option option, may make such appearances, disburse such sums and take such actions lawful action, taking into account the rights of residents at the Property, as Lender reasonably deems necessary to perform such obligations of Borrower and necessary, in its sole discretion, to protect the Property or Lender's interestinterest therein, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs take such actions Lender determines appropriate to preserve, protect or secure restore the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) . Any amounts disbursed by Lender under pursuant to this Section 126 (including attorneys' fees, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12costs and expenses), shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear together with interest from the date of disbursement until paid thereon at the "Default Rate", as " (defined in the Note. (cNotes) from the date of disbursement, shall become additional Indebtedness of Borrower secured by the lien of this Mortgage and the other Loan Documents and shall be due and payable on demand. Nothing contained in this Section 12 6 shall require Lender to incur any expense or take any actionaction hereunder.

Appears in 3 contracts

Samples: Mortgage, Assignment of Rents and Security Agreement (Balanced Care Corp), Credit Line Deed of Trust, Assignment of Rents and Security Agreement (Balanced Care Corp), Open End Mortgage (Balanced Care Corp)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower Guarantor fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's Xxxxxx’s security or Lender's ’s rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's ’s option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower Guarantor and to protect Lender's Xxxxxx’s interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of any other amounts which Borrower Guarantor has failed to pay under Sections 15 and 17as required herein. (b) Any amounts disbursed by Lender under this Section 129, or under any other provision of this Instrument that treats such disbursement as being made under this Section 1210, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", ,” as defined in the Note. (c) Nothing in this Section 12 9 shall require Lender to incur any expense or take any action.

Appears in 2 contracts

Samples: Deed of Trust, Deed of Trust

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding (including a Bankruptcy Event) is commenced which purports to affect the Mortgaged Property, Lender's ’s security or Lender's ’s rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's ’s option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's ’s interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 2 contracts

Samples: Purchase Money Mortgage (Steadfast Income REIT, Inc.), Multifamily Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (Behringer Harvard Multifamily Reit I Inc)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the the, Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Deed of Trust (Maxus Realty Trust Inc)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any After the occurrence of its obligations under this Instrument or any other Loan Documentan Event of Default, or if any action or proceeding is commenced which purports to affect affects the Mortgaged PropertyProperty or title thereto or the interest of Lender therein, Lender's security or Lender's rights under this Instrumentincluding, including but not limited to, eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions action as Lender deems reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interestinterest (subject to the terms of the Unisys Lease), including (1) payment of fees and out-of-pocket expenses of attorneysincluding, accountants, inspectors and consultantsbut not limited to, (2i) disbursement of reasonable attorney's fees, (ii) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Propertymaterial repairs, (3iii) procurement of satisfactory insurance as provided herein, (iv) the insurance required by Section 19payment of any taxes and/or assessments levied against the Property and then due and payable, and (4v) payment of any other amounts which Borrower has failed to pay under Sections 15 and 17. (b) contemplated in any of the Loan Documents. Any amounts disbursed by Lender under pursuant to this Section 12Section, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12with interest thereon, shall be added tobecome additional indebtedness of Borrower secured by this Instrument. Unless Borrower and Lender agree to other terms of payment, and become part of, the principal component of the Indebtedness, such amounts shall be immediately due and payable upon demand and shall bear interest from the date of disbursement until paid at the "Default Rate"rate then applicable to principal under the Note unless collection from Borrower of interest at such rate would be contrary to applicable law, as defined in which event such amounts shall bear interest at the Note. (c) highest rate which may be collected from Borrower under applicable law. Nothing contained in this Section 12 or elsewhere in any of the Loan Documents shall require Lender to incur any expense or take any actionaction hereunder.

Appears in 1 contract

Samples: Mortgage, Assignment of Rents and Security Agreement (Gladstone Commercial Corp)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to pay the Indebtedness or perform the Obligations after the expiration of any of its obligations under this Instrument applicable notice or any other Loan Documentcure period, or if any action or proceeding is commenced which purports to affect materially affects the Mortgaged Property, Lender's security Property or Lender's rights under this Instrumentinterest therein and Borrower fails to promptly take appropriate action, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedentas reasonably determined by Lender, then Lender Lender, at Lender's option option, may make such appearances, disburse such sums and take such actions action as Lender reasonably deems necessary to perform such obligations of Borrower and necessary, in its reasonable discretion, to protect the Property or Lender's interestinterest therein, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) lawful entry upon the Mortgaged Property to make repairs and perform environmental tests and studies. Lender shall give Borrower reasonable notice of all such appearances, disbursements and actions, which may be before or secure the Mortgaged Propertyafter any such appearance, (3) procurement of the insurance required by Section 19disbursement or action, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) as appropriate. Any amounts disbursed by Lender under pursuant to this Section 12Paragraph 7 (including attorneys' costs and expenses), or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid thereon at the "Default Rate", as " (defined in the Note. (c) from the date of disbursement, shall become additional Indebtedness of Borrower secured by the Loan Documents and shall be due and payable on demand. Nothing contained in this Section 12 Paragraph 7 shall require Lender to incur any expense or take any actionaction hereunder. With respect to the foregoing, reference is made to Section 291-f of the New York Real Property Law and the benefits of such Section 291-f shall apply hereto.

Appears in 1 contract

Samples: Mortgage Consolidation, Assignment of Rents, Security Agreement and Fixture Filing (Merrill Lynch & Co Inc)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note.. 11/01 Page 12 (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (VMS National Properties Joint Venture)

PROTECTION OF LENDER'S SECURITY. If (a) If Borrower Xxxxxxxx fails to pay the Indebtedness or to perform any the Obligations and such default ripens into an Event of its obligations under this Instrument or any other Loan DocumentDefault, or if (b) any action or proceeding is commenced which purports affects or could reasonably be expected to affect the Mortgaged Property or Agent’s or Lender’s interest therein, including any loss, damage, cost, expense or liability incurred by Agent or Lender with respect to (i) any environmental matters relating to the Property or (ii) the preparation of the commencement or defense of any action or proceeding or any threatened action or proceeding affecting the Loan Documents or the Property, Lender's security or Lender's rights under this Instrumentthen Agent, including eminent domainat Agent’s option, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions action as Lender reasonably Agent deems necessary to perform such obligations of Borrower and necessary, in its reasonable discretion, to protect Lender's interestthe Property or Agent’s or Xxxxxx’s interest therein, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property (subject to make repairs the rights of tenants and subtenants) to take such actions Agent determines reasonably appropriate to preserve, protect or secure restore the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) . Any amounts disbursed by Agent or Lender under pursuant to this Section 127 (including reasonable attorneys’ fees, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12costs and expenses), shall be added to, and become part of, together with interest thereon at the principal component of “Default Rate” (defined in the Indebtedness, shall be immediately due and payable and shall bear interest Note) from the date of disbursement until paid at disbursement, shall become additional Indebtedness of Borrower secured by the "Default Rate", as defined in lien of this Mortgage and the Note. (c) other Loan Documents and shall be due and payable on demand. Nothing contained in this Section 12 7 shall require Agent or Lender to incur any expense or take any actionaction hereunder.

Appears in 1 contract

Samples: Line of Credit Mortgage and Security Agreement (Grubb & Ellis Healthcare REIT II, Inc.)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's ’s security or Lender's ’s rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's ’s option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's ’s interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Emeritus Corp\wa\)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails an Event of Default occurs due to Borrower’s failure to perform any of its obligations under the covenants and agreements contained in this Instrument or any other Loan DocumentInstrument, or if any action or proceeding is commenced which purports to affect affects the Mortgaged PropertyProperty or title thereto or the interest of Lender therein, Lender's security or Lender's rights under this Instrumentincluding, including but not limited to, eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's ’s option may make such appearances, disburse such sums and take such actions action as Lender reasonably deems necessary to perform such obligations of Borrower and necessary, in it sole discretion, to protect Lender's ’s interest, including including, but not limited to, (1i) payment of fees and out-of-pocket expenses disbursement of attorneys, accountants, inspectors and consultants’ fees, (2ii) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Propertyrepairs, and (3iii) procurement of the satisfactory insurance required by as provided in Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) 5 hereof. Any amounts disbursed by Lender under pursuant to this Section 128, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12with interest thereon, shall be added tobecome additional Indebtedness of Borrower secured by this Instrument. Unless Borrower and Lender agree to other terms of payment, and become part of, the principal component of the Indebtedness, such amounts shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", Rate (as defined in the Note. (c) ). Borrower hereby covenants and agrees that Lender shall be subrogated to the lien of any mortgage or other lien discharged, in whole or in part, by the Indebtedness. Nothing contained in this Section 12 8 shall require Lender to incur any expense or take any actionaction hereunder.

Appears in 1 contract

Samples: Security Agreement

PROTECTION OF LENDER'S SECURITY. (a) If Borrower Xx Xxxrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights rxxxxx under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment xxxxent of fees and out-of-out of pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections undex Xxxxxxns 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Loan Agreement (Krupp Realty LTD Partnership V)

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PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument MRLF Mortgage or any other Loan Document, or if any action or proceeding is commenced which purports to affect the MRLF Mortgaged Property, Lender's ’s security or Lender's ’s rights under this InstrumentMRLF Mortgage, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's ’s option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's ’s interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the MRLF Mortgaged Property to make repairs or secure the MRLF Mortgaged Property, (3) procurement of the insurance required by Section 1918, and (4) payment of amounts which Borrower has failed to pay under Sections 15 14 and 1716. (b) Any amounts disbursed by Lender under this Section 1211, or under any other provision of this Instrument MRLF Mortgage that treats such disbursement as being made under this Section 1211, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the MRLF Note. (c) Nothing in this Section 12 11 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Mortgage, Pledge of Leases and Rents and Security Agreement

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's Lenders rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Multifamily Mortgage, Assignment of Rents and Security Agreement (Historic Preservation Properties 1989 Limited Partnership)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, XXXXXX MAE MULTIFAMILY SECURITY INSTRUMENT Form 4028 (NEBRASKA) 4/98 and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Capital Senior Living Corp)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails Borrowers and Accommodation Parties fail to perform any of its obligations under the covenants and agreements contained in this Instrument or any other Loan DocumentMortgage, or if there is any action legal proceeding that may significantly affect the Lender's interest in the Mortgaged Property (such as a proceeding in bankruptcy, probate, condemnation, or proceeding to enforce laws or regulations), then the Lender may, at its sole option and discretion, do and pay for whatever is commenced which purports necessary to affect protect the value of the Mortgaged Property and the Lender's rights in the Mortgaged Property, . The Lender's security or Lender's rights under actions may include paying any sums secured by a lien that has priority over the lien created by this InstrumentMortgage, including eminent domainappearing in court, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of paying reasonable attorneys' fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon entering on the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) repairs. Any amounts disbursed by the Lender under this Section 12, or 7 shall become additional debt of Borrowers due under any other provision of this Instrument that treats such disbursement as being made under this Section 12, the Note and shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and secured by this Mortgage. These amounts shall bear interest from the date of disbursement until paid at the "Default Rate", as defined highest interest rate provided in the Note. First Mortgage Lien, or if such First Mortgage Lien has been satisfied then at the lesser of eighteen percent (c18%) Nothing in or the highest interest rate permissible under applicable law, and shall be payable, with interest, upon notice from Lender to Borrowers requesting payment. Any action taken or expense incurred by the Lender hereunder shall be at its sole option and discretion and nothing contained herein, including but not limited to this Section 12 7, shall require the Lender to take any action or to incur any expense or take any actionhereunder.

Appears in 1 contract

Samples: Mortgage

PROTECTION OF LENDER'S SECURITY. If (a) If Borrower fails to pay the Indebtedness or to perform the Obligations when due or within any of its obligations under this Instrument or any other Loan Documentapplicable cure period, or if (b) any action or proceeding is commenced which purports to affects or could affect the Mortgaged Property, Lender's security Property or Lender's rights under this Instrumentinterest therein, including eminent domainany loss, insolvencydamage, code enforcementcost, civil expense or criminal forfeiture, enforcement liability incurred by Lender with respect to (i) any environmental matters relating to the Property or (ii) the preparation of Hazardous Materials Laws, fraudulent conveyance the commencement or reorganizations defense of any action or proceedings involving a bankrupt proceeding or decedentany threatened action or proceeding affecting the Loan Documents or the Property, then Lender Lender, at Lender's option option, may make such appearances, disburse such sums and take such actions action as Lender reasonably deems necessary to perform such obligations of Borrower and necessary, in its sole discretion, to protect the Property or Lender's interestinterest therein, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs take such actions Lender determines appropriate to preserve, protect or secure restore the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) . Any amounts disbursed by Lender under pursuant to this Section 127 (including attorneys' fees, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12costs and expenses), shall be added to, and become part of, ---------- together with interest thereon at the principal component of "DEFAULT RATE" (defined in the Indebtedness, shall be immediately due and payable and shall bear interest Note) from the date of disbursement until paid at disbursement, shall become additional Indebtedness of Borrower secured by the "Default Rate", as defined in lien of this Mortgage and the Note. (c) other Loan Documents and shall be due and payable on demand. Nothing contained in this Section 12 7 shall require --------- Lender to incur any expense or take any actionaction hereunder.

Appears in 1 contract

Samples: Real Property Mortgage With Power of Sale and Security Agreement (Emeritus Corp\wa\)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's Lende s option may make such appearances, disburse such sums sucx xxxs and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-out of pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Maxus Real Property Investors Four Lp)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under the covenants and agreements contained in this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect affects the Mortgaged PropertyProperty or title thereto or the interest of Lender therein, Lender's security or Lender's rights under this Instrumentincluding, including but not limited to, eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations arrangements or proceedings involving a bankrupt or decedent, then Lender then, at Lender's option option, after five (5) days' written notice to Borrower, Lender may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and necessary, in its sole discretion, to protect Lender's interestinterest herein, including (1) payment of fees and out-of-pocket expenses of attorneysincluding, accountants, inspectors and consultantsbut not limited to, (2i) disbursement of reasonable attorney fees, (ii) entry upon the Mortgaged Property to make reasonable repairs or secure the Mortgaged Propertyto conduct any reasonably appropriate environmental tests and inspections or to perform any necessary remediation, (3iii) procurement of the insurance required by Section 19satisfactory insurance, and (4iv) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Impositions. Any amounts disbursed by Lender under pursuant to this Section 12Paragraph 24, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12together with interest thereon, shall be added tobecome additional indebtedness of Borrower secured by this Instrument. Unless Borrower and Lender agree to other terms of payment, and become part of, the principal component of the Indebtedness, such amounts shall be immediately due and payable and shall bear interest from the date of disbursement until paid at a rate equal to the "Default Rate", as defined Rate of interest set forth in the Note. (c) . Nothing contained in this Section 12 Paragraph 24 shall require Lender to incur any expense or take any actionaction hereunder.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Fixture Filing (Standard Management Corp)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding (including a Bankruptcy Event) is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Rents and Security Agreement (Bluerock Enhanced Multifamily Trust, Inc.)

PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's ’s security or Lender's ’s rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's ’s option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's ’s interest, including (1) payment of fees and out-of-out of pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall till be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", ,” as defined in the Note. (c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Maxus Realty Trust Inc.)

PROTECTION OF LENDER'S SECURITY. (a) If the Borrower fails or Guarantor fail to perform any of its obligations under their respective covenants and agreements contained or incorporated in this Instrument or any other Loan DocumentAgreement, or if any action or proceeding is commenced which purports affects the Borrower's Collateral or Guarantor's Collateral or title thereto or the interest of the Lender therein, including, but not limited to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations arrangements or proceedings involving a bankrupt or decedent, then Lender the Lender, at the Lender's option option, may make such appearancesappearance, disburse such sums sums, and take such actions action as the Lender reasonably deems necessary to perform such obligations of Borrower and necessary, in its sole discretion, to protect the Lender's interest, including but not limited to (1i) payment of fees and out-of-pocket expenses disbursement of attorneys, accountants, inspectors and consultants' fees, (2ii) entry upon the Mortgaged Property Borrower's or Guarantor's property to make repairs to the Borrower's Collateral or secure the Mortgaged PropertyGuarantor's Collateral, and (3iii) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17. (b) satisfactory insurance. Any amounts disbursed by Lender under pursuant to this Section 12Section, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12with interest thereon, shall be added to, and become part ofadditional indebtedness of the Borrower secured by this Agreement. Unless the Borrower, the principal component Guarantor and the Lender agree to other terms of the Indebtednesspayment, such amounts shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined rate stated in the Note. (c) . Nothing contained in this Section 12 shall require the Lender to incur any expense or take any action.

Appears in 1 contract

Samples: Loan and Security Agreement (I Link Inc)

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