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

PROTECTION OF LENDER'S SECURITY. If Xxxxxxxx fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced that materially affects Xxxxxx's interest in the Property, then Lender, at Xxxxxx's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees and costs, and take such action as is necessary to protect Xxxxxx's interest. If Lender requires mortgage insurance as a condition of making the Loan, Borrower will pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any amounts disbursed by Xxxxxx pursuant to this paragraph 7, including any reasonable attorney’s fees and costs incurred by Xxxxxx, with interest thereon, at the Note Default Interest Rate, will become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Xxxxxx agree to other terms of payment, such amounts will be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 will require Lender to incur any expense or take any action hereunder.

PROTECTION OF LENDER'S SECURITY. If Xxxxxxxx Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced that which materially affects XxxxxxLender's interest in the Property, then Lender, at Xxxxxx's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees and costs, and take such action as is necessary to protect Xxxxxx's interest. If Lender requires mortgage insurance as a condition of making the Loanloan secured by this Mortgage, Borrower will shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and LenderXxxxxx's written agreement or applicable law. Any amounts disbursed by Xxxxxx pursuant to this paragraph 7, including any reasonable attorney’s fees and costs incurred by Xxxxxx, with interest thereon, at the Note Default Interest Rate, will shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Xxxxxx Lender agree to other terms of payment, such amounts will shall be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 will shall require Lender to incur any expense or take any action hereunder.

PROTECTION OF LENDER'S SECURITY. If Xxxxxxxx Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced that which materially affects XxxxxxLender's interest in the Property, then Lender, at XxxxxxLender's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees and costs(including the time of any in-house counsel of lender, charged at the same rate as comparable outside attorneys) and take such action as is necessary to protect XxxxxxLender's interest. If Lender requires required mortgage insurance as a condition of making the Loanloan secured by this Mortgage, Borrower will shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any amounts disbursed by Xxxxxx Lender pursuant to this paragraph 7, including any reasonable attorney’s fees and costs incurred by Xxxxxx, with interest thereon, at the Note Default Interest Raterate, will shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Xxxxxx Lender agree to other terms of payment, such amounts will be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 will require Lender to incur any expense or take any action hereunder.shall