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

PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform the covenants and agreements contained in this Mortgage, the Note, XXXX, or Agency Agreement the terms of which are incorporated herein by reference, or if any action or proceeding is commenced which materially affects Lender’s interest in the Property, including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender’s option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender’s interest, including, but not limited to, disbursement of reasonable attorney’s fees and entry upon the Property to make repairs. Any amounts disbursed by Lender pursuant to this Paragraph 7, shall bear interest thereon at the rate of ten percent (10%) per annum, and shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from date of disbursement at the rate payable from time to time on outstanding principal under the Note. Nothing contained in this Paragraph 7 shall require Lender to incur any expense or take any action hereunder.

PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform the covenants and agreements contained in this Mortgage, the Note, XXXX, or Agency Agreement the terms of which are incorporated herein by reference, or if any action or proceeding is commenced which materially affects Lender’s the Property or title thereto or the interest in the Propertyof Lender therein, including, but not limited to, eminent domain, insolvency, code enforcement, enforcement or arrangements or proceedings involving a bankrupt or decedent, then Lender Lender, at Lender’s option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary Lender deems necessary, in its sole discretion, to protect LenderXxxxxx’s interest, including, but not limited to, (i) disbursement of reasonable attorney’s fees and fees, (ii) entry upon the Property to make repairs, and (iii) procurement of satisfactory insurance as provided in paragraph 5 hereof. Any amounts disbursed by Lender Xxxxxx pursuant to this Paragraph 7, shall bear interest thereon at the rate of ten percent (10%) per annum, and paragraph shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be immediately due and payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the Event of Default rate payable stated in the Note unless collection from time Borrower of interest at such rate would be contrary to time on outstanding principal applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Borrower under the Noteapplicable law. Nothing contained in this Paragraph 7 paragraph shall require Lender to incur any expense or take any action hereunder.

PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform the covenants and agreements contained in this Mortgage, the Note, XXXX, or Agency Agreement the terms Deed of which are incorporated herein by referenceTrust, or if any action or proceeding is commenced which materially affects Lender’s 's interest in the Secured Property, including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt debtor in bankruptcy or decedent, then Lender Lender, at Lender’s 's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect Lender’s 's interest, including, but not limited to, disbursement of reasonable attorney’s attorneys' fees and entry upon the Secured Property to make repairs. Any amounts disbursed by Lender pursuant to this Paragraph 711, shall bear with interest thereon at the rate of ten percent (10%) per annumthereon, and shall will become an additional indebtedness of Borrower secured by this MortgageDeed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall will be payable upon notice from Lender to Borrower requesting payment thereofpayment, and shall will bear interest from date the dates of disbursement at the rate payable from time to time on the outstanding principal balance under the Note. Nothing contained in this Paragraph 7 11 shall require impose upon Lender an affirmative duty to incur any expense or take any action hereunderaction.

PROTECTION OF LENDER'S SECURITY. If the Borrower fails to perform the covenants and agreements contained in this Mortgage, the Note, XXXX, or Agency Agreement the terms of which are incorporated herein by reference, or if any action or proceeding is commenced which materially affects the Lender’s 's interest in the Property, includingthen the Lender, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at the Lender’s 's option, upon notice to the Borrower, may make such appearances, disburse such sums sums, including reasonable attorneys' fees, and take such action as is necessary to protect the Lender’s interest's interest in the Property. If the Lender required mortgage insurance as a condition of making the Second Mortgage Loan secured by this Mortgage, including, but not limited to, disbursement of reasonable attorney’s fees the Borrower shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with the Borrowers and entry upon the Property to make repairsLenders written agreement or applicable law. Any amounts disbursed by the Lender pursuant to this Paragraph 75, shall bear with interest thereon thereon, at the rate of ten seven percent (107%) per annum, and or the then statutory rate of interest as established from year to year under section 55.03, Florida Statutes, shall become additional indebtedness of the Borrower secured by this Mortgage. Unless the Borrower and the Lender agree to other terms of payment, such amounts shall be payable upon notice from the Lender to the Borrower requesting payment thereof, and shall bear interest from date of disbursement at the rate payable from time to time on outstanding principal under the Note. Nothing contained in this Paragraph 7 5 shall require the Lender to incur any expense or take any action hereunder.

PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform the covenants and agreements contained in this Mortgage, the Note, XXXX, or Agency Agreement the terms Deed of which are incorporated herein by referenceTrust, or if any action or proceeding is commenced which materially affects Lender’s interest in the Property, including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender’s 's option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect LenderXxxxxx’s interest, including, but not limited to, disbursement of reasonable attorney’s 's fees and entry upon the Property to make repairs. Any amounts disbursed by Lender Xxxxxx pursuant to this Paragraph 7paragraph 9, shall bear with interest thereon at the rate of ten percent (10%) per annumthereon, and shall become additional indebtedness of Borrower secured by this MortgageDeed of Trust. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the rate payable from time to time on outstanding principal under the NoteNote unless payments of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible under applicable law. Nothing contained in this Paragraph 7 paragraph 9 shall require Lender to incur any expense or take any action hereunder.

PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform the covenants and agreements contained in this Mortgage, the Note, XXXX, or Agency Agreement the terms of which are incorporated herein by reference, or if any action or proceeding is commenced which that materially affects Lender’s interest in the Property, including, but not limited to, eminent domain, insolvency, building code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender Lender, at LenderXxxxxx’s option, and subject to the rights of the Senior Lender(s), upon notice to Borrower, may make such appearances, disburse such sums and take such action as is necessary to protect LenderXxxxxx’s interest, including, but not limited to, disbursement of reasonable attorney’s attorneys’ fees and entry upon the Property to make repairs. Any amounts disbursed by Lender Xxxxxx pursuant to this Paragraph 76, shall bear with interest thereon at the rate of ten percent (10%) per annumon them, and shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereofof them, and shall bear interest from the date of disbursement at the rate payable from time of five percent (5%) per year, unless payment of interest at such rate would be contrary to time on outstanding principal applicable law, in which event such amounts shall bear interest at the highest rate permissible under the Noteapplicable law. Nothing contained in this Paragraph 7 6 shall require Lender to incur any expense or take any action hereunderunder this Mortgage.

PROTECTION OF LENDER'S SECURITY. If Borrower Xxxxxxxx fails to perform the covenants and agreements contained in this Mortgage, the Note, XXXX, or Agency Agreement the terms of which are incorporated herein by referenceif any action or proceeding is commenced and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially affects Lender’s interest Interest in the Property, including, but not limited to, eminent domain, insolvency, property taxes, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender the Lender, at LenderXxxxxx’s option, upon notice to Borrower, may make such appearances, disburse such sums and take such action as is Lender reasonably deems necessary to protect LenderXxxxxx’s interest, including, but not limited to, disbursement of reasonable attorney’s attorneys’ fees and entry upon the Property to make repairs. Any amounts disbursed by Lender pursuant to this Paragraph 7paragraph 6, shall bear with interest thereon at the rate of ten percent (10%) per annumthereupon, and shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear interest from the date of disbursement at the highest rate payable from time to time on outstanding principal permissible under the Noteapplicable law. Nothing contained in this the Paragraph 7 6 shall require Lender to incur any expense or take any action hereunder.