Common use of Protection of Mortgagee’s Security Clause in Contracts

Protection of Mortgagee’s Security. Subject to the rights of Mortgagor under paragraph 7 hereof, if Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on the Mortgaged Properties or the interest of Mortgagee therein, or the title thereto, then Mortgagee, at Mortgagee's option, may perform such covenants and agreements, defend against and/or investigate such action or proceeding, and take such other action as Mortgagee deems necessary, in its reasonable discretion, to protect Mortgagee's interest. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged Properties as Mortgagor's agent in Mortgagor's name to perform any and all covenants and agreements to be performed by Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagor. Any amounts or expenses disbursed or incurred by Mortgagee pursuant to this paragraph, with interest thereon, shall become additional Indebtedness of Mortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement at the annual rate stated in the Credit Agreement, unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, or other lien discharged in whole or in part by the Indebtedness or by Mortgagee under the provision thereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph shall require Mortgagee to incur any expense or do any act hereunder, and Mortgagee shall not be liable to Mortgagor for any damages or claims arising out of action taken by Mortgagee pursuant to this paragraph.

Protection of Mortgagee’s Security. Subject to If the rights of Mortgagor under paragraph 7 hereof, if Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage or in the Loan Agreement after applicable cure periods expire, or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of the Mortgagee therein, or the title thereto, then the Mortgagee, at the Mortgagee's ’s option, may perform such covenants and agreements, defend against and/or investigate such action or proceeding, and take such other action as the Mortgagee deems necessary, in its reasonable discretion, necessary to protect the Mortgagee's ’s interest. The Mortgagee is hereby given shall be the irrevocable power sole judge of attorney (which power is coupled with an interest the legality, validity and is irrevocable) to enter upon priority of any claim, lien, encumbrance, tax, assessment, charge and premium paid by it and of the Mortgaged Properties as Mortgagor's agent in Mortgagor's name to perform any and all covenants and agreements amount necessary to be performed by Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagorpaid in satisfaction thereof. Any reasonable amounts or expenses disbursed or incurred by the Mortgagee pursuant to this paragraph, Section 16 with interest thereon, shall become additional Indebtedness of the Mortgagor secured by this Mortgage. Unless the Mortgagor and the Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from as the date of disbursement at interest rate per annum then in effect on the annual rate stated in the Credit Agreement, Note (unless collection from the Mortgagor of interest at such rate of interest would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate of interest which may be collected from the Mortgagor under applicable law) from the date of such demand. The Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness or by the Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph herein shall require the Mortgagee to incur any expense or do any act hereunder, and the Mortgagee shall not be liable to the Mortgagor for any damages or claims arising out of action taken hereby by Mortgagee pursuant to this paragraphthe Mortgagee.

Protection of Mortgagee’s Security. Subject to the rights of the Mortgagor under paragraph 7 hereof, if the Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of Mortgagee the Mortgage therein, or the title thereto, then the Mortgagee, at Mortgagee's option, upon 30 days written notice to Mortgagor may perform such covenants and agreements, defend against and/or or investigate such action or proceeding, and take such other action as the Mortgagee deems necessary, in its reasonable discretion, necessary to protect the Mortgagee's interest. Mortgagee shall be the sole judge of the legality, validity and priority of any claim, lien, encumbrance, tax, assessment, charge and premium paid by it and of the amount necessary to be paid in satisfaction thereof. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) authority to enter upon the Mortgaged Properties Property as the Mortgagor's agent in the Mortgagor's name to perform any and all covenants and agreements to be performed by the Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagorprovided. Any amounts or expenses disbursed or incurred by the Mortgagee pursuant to this paragraph, paragraph 11 with interest thereon, shall become additional Indebtedness of the Mortgagor secured by this MortgageMortgage and Mortgagee shall give notice to Mortgagor of such additional Indebtedness in the most practicable manner. Unless Mortgagor and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement at the annual rate stated in provided by the Credit AgreementNote herein, unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness or by the Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph 11 shall require the Mortgagee to incur any expense or do any act hereunder, and the Mortgagee shall not be liable to the Mortgagor for any damages or claims arising out of action taken by the Mortgagee pursuant to this paragraphparagraph 11.

Protection of Mortgagee’s Security. Subject to the rights of Mortgagor under paragraph 7 Section 9 hereof, if Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage Second Mortgage, or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of Mortgagee therein, or the title thereto, then Mortgagee, at Mortgagee's ’s option, may perform such covenants and agreements, defend against and/or investigate such action or proceeding, and take such other action as Mortgagee deems necessary, in its reasonable discretion, necessary to protect Mortgagee's ’s interest. Mortgagee shall be the sole judge of the legality, validity and priority of any claim, lien, encumbrance, tax, assessment, charge and premium paid by it and of the amount necessary to be paid in satisfaction thereof. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged Properties Property as Mortgagor's ’s agent in Mortgagor's ’s name to perform any and all covenants and agreements to be performed by Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagorprovided. Any amounts or expenses disbursed or incurred by Mortgagee pursuant to this paragraphSection 13, with interest thereon, shall become additional Indebtedness of Mortgagor secured by this Second Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement at the highest annual rate stated in the Discretionary Credit AgreementNote, unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness or by Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Second Mortgage. Nothing contained in this paragraph Section 13 shall require Mortgagee to incur any expense or do any act hereunder, and Mortgagee shall not be liable to Mortgagor for any damages or claims arising out of action taken by Mortgagee pursuant to this paragraphSection 13.

Protection of Mortgagee’s Security. Subject to If the rights of Mortgagor under paragraph 7 hereof, if Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on does or may adversely affect the Mortgaged Properties Property or the interest of the Mortgagor or Mortgagee therein, or the title of the Mortgagor thereto, then the Mortgagee, at the Mortgagee's option, may perform such covenants and agreements, defend against and/or investigate such action or proceeding, and take such other action as the Mortgagee deems necessary, in its reasonable discretion, necessary to protect the Mortgagee's interest. The Mortgagee is hereby given shall be the irrevocable power sole judge of attorney (which power is coupled with an interest the legality, validity and is irrevocable) priority of any claims, liens, encumbrances, taxes, assessments, charges and premiums paid by it and of the amount necessary to enter upon be paid in satisfaction thereof. In the event that, after damage to or destruction of the Mortgaged Properties Property or condemnation of a portion of the Mortgaged Property or a sale under threat thereof, the Mortgagee elects to restore the Mortgaged Property, and the insurance, sale or condemnation proceeds, as Mortgagor's agent in Mortgagor's name the case may be, which are paid to perform any and all covenants and agreements to be performed by Mortgagor as herein provided if such covenants and agreements the Mortgagee are not duly performed by Mortgagor. Any amounts or expenses disbursed or incurred by sufficient to pay for such restoration, the Mortgagee pursuant to this paragraphmay effect the restoration in such manner as it determines, and the cost thereof in excess of such proceeds, together with interest thereon, shall become additional Indebtedness of Mortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest thereon from the date of disbursement at the annual rate stated provided in the Credit Agreement, Note (unless collection from Mortgagor payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permitted by applicable law) shall become an additional amount secured hereunder, and shall be immediately due and payable. Any amounts disbursed or incurred by the Mortgagee pursuant to this paragraph 9, including, but not limited to, reasonable attorney's fees, with interest thereon, shall become additional Indebtedness of the Mortgagor secured by this Mortgage. The Mortgagee is hereby given the irrevocable power of attorney (which may power is coupled with an interest and given for security and is irrevocable) to enter upon the Mortgaged Property as the Mortgagor's agent and in the Mortgagor's name to perform any and all covenants and agreements to be collected performed by the Mortgagor as herein provided. All amounts disbursed or incurred by the Mortgagee pursuant to this paragraph 9 shall be payable upon demand, and shall bear interest from Mortgagor under the date of disbursement or the date incurred at the rate stated in the Note, unless payment of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate permitted by applicable law. The Mortgagee shall, at its option, option be subrogated to any encumbrance, lien, claim or demand, and to all the lien of any mortgagerights and securities for payment thereof, deed of trust, paid or other lien discharged in whole with the principal sum secured hereby or in part by the Indebtedness or by Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph 9 shall require the Mortgagee to incur any expense or do any act hereunder, and the Mortgagee shall not be liable to the Mortgagor for any damages or claims arising out of action taken by the Mortgagee pursuant to this paragraphparagraph 9.

Protection of Mortgagee’s Security. Subject to the rights of Mortgagor under paragraph 7 8 hereof, if Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of Mortgagee therein, or the title thereto, then Mortgagee, at Mortgagee's ’s option, may perform such covenants and agreements, defend against and/or investigate such action or proceeding, and take such other action as Mortgagee deems necessary, in its reasonable discretion, necessary to protect Mortgagee's ’s interest. Mortgagee shall be the sole judge of the legality, validity and priority of any claim, lien, encumbrance, tax, assessment, charge and premium paid by it and of the amount necessary to be paid in satisfaction thereof. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged Properties Property as Mortgagor's ’s agent in Mortgagor's ’s name to perform any and all covenants and agreements to be performed by Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagorprovided. Any amounts or expenses disbursed or incurred by Mortgagee pursuant to this paragraph, paragraph 15 with interest thereon, shall become additional Indebtedness of Mortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement at the annual rate stated in the Credit AgreementNote which the Mortgage secures, unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness or by Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph 15 shall require Mortgagee to incur any expense or do any act hereunder, hereunder and Mortgagee shall not be liable to Mortgagor for any damages or claims arising out of action taken by Mortgagee pursuant to this paragraphparagraph 15.

Protection of Mortgagee’s Security. Subject to the rights of the Mortgagor under paragraph 7 hereof, if the Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of the Mortgagee therein, or the title thereto, then the Mortgagee, at Mortgagee's Mortgagee`s option, may perform such covenants and agreements, defend against and/or investigate such action or proceeding, and take such other action as the Mortgagee deems necessary, in its reasonable discretion, necessary to protect project the Mortgagee's interest. Mortgagee shall be the sole judge of the legality, validity and priority of any claim, lien, encumbrance, tax, assessment, charge and premium paid by it and of the amount necessary to be paid in satisfaction thereof. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged Properties Property as the Mortgagor's agent in the Mortgagor's name to perform any and all covenants and agreements to be performed by the Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagorprovided. Any amounts or expenses disbursed or incurred by the Mortgagee pursuant to this paragraphparagraph 11, with interest thereon, shall become additional Indebtedness of the Mortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement at the annual rate stated of interest provided in the Credit AgreementNote, unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness or by the Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph 11 shall require the Mortgagee to incur any expense or do any act hereunder, and the Mortgagee shall not be liable to the Mortgagor for any damages or claims arising out of action taken by the Mortgagee pursuant to this paragraphparagraph 11.

Protection of Mortgagee’s Security. Subject to If the rights of Mortgagor under paragraph 7 hereof, if Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage after receipt of notice thereof from the Mortgagee and fails to cure within thirty (30) business days, or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of the Mortgagee therein, or the title thereto, then the Mortgagee, at Mortgagee's ’s option, may perform such covenants and agreements, defend against and/or investigate such action or proceeding, and take such other action as the Mortgagee deems necessary, in its reasonable discretion, necessary to protect the Mortgagee's ’s interest. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged Properties Property as the Mortgagor's ’s agent in Mortgagor's its name to perform any and all covenants and agreements to be performed by the Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagorprovided. Any amounts or expenses disbursed or incurred by the Mortgagee pursuant to this paragraphSection 3.03, with interest thereon, thereon at a rate of one percent (1.00%) per annum in excess of the “reference rate” publicly announced from time to time by U.S. Bank National Association shall become additional Indebtedness indebtedness of the Mortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement ten (10) days following written demand for such amounts at the annual rate stated of one percent (1.00%) per annum in excess of the Credit Agreement, “reference rate” publicly announced from time to time by US Bank National Association unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness indebtedness or by the Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph Section 3.03 shall require the Mortgagee to incur any expense or do any act hereunder, and the Mortgagee shall not be liable to the Mortgagor for any damages or claims arising out of action taken by the Mortgagee pursuant to this paragraphSection 3.03.

Protection of Mortgagee’s Security. Subject to the rights of Mortgagor Mortgagors under paragraph 7 8 hereof, if Mortgagor fails Mortgagors fail to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of the Mortgagee therein, or the title thereto, then Mortgagee, at Mortgagee's option, may perform such covenants and agreements, defend against and/or or investigate such action or proceeding, and take such other action as Mortgagee deems necessary, in its reasonable discretion, necessary to protect Mortgagee's interest. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged Properties as Mortgagor's agent in Mortgagor's name to perform any and all covenants and agreements to be performed by Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagor. Any amounts or expenses disbursed or incurred by Mortgagee in good faith pursuant to this paragraph, paragraph 12 with interest thereonthereon at the rate of % per annum, shall become additional Indebtedness an Obligation of Mortgagor Mortgagors secured by this Mortgage. Unless Mortgagor Such amounts advanced or disbursed by Mortgagee hereunder shall be immediately due and payable by Mortgagors unless Xxxxxxxxxx and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement at the annual rate stated in the Credit Agreement, unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness Obligations or by Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph shall require Mortgagee to incur any expense or do any act hereunder, and Mortgagee shall not be liable to Mortgagor Mortgagors for any damages damage or claims arising out of action taken by Mortgagee pursuant to this paragraph.

Protection of Mortgagee’s Security. Subject to the rights If an Event of Mortgagor under paragraph 7 hereofDefault shall have occurred and be continuing, if Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or title thereto or the interest of Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement, or the title theretoarrangements or proceedings involving a bankrupt or decedent, then Mortgagee, Mortgagee at Mortgagee's option’s option may make such appearances, may perform disburse such covenants and agreements, defend against and/or investigate such action or proceeding, sums and take such other action as Mortgagee deems necessary, in its reasonable sole discretion, to protect Mortgagee's ’s interest. Mortgagee is hereby given the irrevocable power , including, but not limited to, (i) disbursement of attorney attorneys’ fees, (which power is coupled with an interest and is irrevocableii) to enter entry upon the Mortgaged Properties Property to make repairs, and (iii) procurement of satisfactory insurance as Mortgagor's agent provided in Mortgagor's name to perform any and all covenants and agreements to be performed by Mortgagor as herein provided if such covenants and agreements are not duly performed by MortgagorSection 5 hereof. Any amounts or expenses disbursed or incurred by Mortgagee pursuant to this paragraphSection 8, with interest thereon, shall become additional Indebtedness of Mortgagor Borrower secured by this MortgageInstrument. Unless Mortgagor Borrower and Mortgagee agree in writing to other terms of repaymentpayment, such amounts shall be immediately due and payable, payable and shall bear interest from the date of disbursement at the annual rate stated in the Credit Agreement, unless collection from Mortgagor lesser of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at 18% per annum or the highest rate which may be collected from Mortgagor under applicable permitted by law. Borrower hereby covenants and agrees that Mortgagee shall, at its option, shall be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged discharged, in whole or in part part, by the Indebtedness or by Mortgagee under the provision thereof, and any such subrogation rights shall be additional and cumulative security for this MortgageIndebtedness. Nothing contained in this paragraph Section 8 shall require Mortgagee to incur any expense or do take any act action hereunder. Notwithstanding the foregoing, and Mortgagee shall not be liable to Mortgagor for at Mortgagee’s option, any damages or claims arising out of action taken additional advances made by Mortgagee pursuant (i) to this paragraphprotect or preserve the Property or security interest created in the Property and (ii) to ensure the full performance of all of the provisions, agreements, covenants and obligations contained in the Loan Documents may be capitalized and consolidated into the Loan and shall bear interest as provided therein.

Protection of Mortgagee’s Security. Subject to the rights of Mortgagor under paragraph 7 8 hereof, if Mortgagor Xxxxxxxxx fails to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of the Mortgagee therein, or the title thereto, then Mortgagee, at Mortgagee's option, may perform such covenants and agreements, defend against and/or or investigate such action or proceeding, and take such other action as Mortgagee deems necessary, in its reasonable discretion, necessary to protect Mortgagee's interest. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged Properties as Mortgagor's agent in Mortgagor's name to perform any and all covenants and agreements to be performed by Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagor. Any amounts or expenses disbursed or incurred by Mortgagee in good faith pursuant to this paragraph, paragraph 12 with interest thereonthereon at the rate of 10% per annum, shall become additional Indebtedness an Obligation of Mortgagor secured by this Mortgage. Unless Such amounts advanced or disbursed by Mortgagee hereunder shall be immediately due and payable by Mortgagor unless Xxxxxxxxx and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement at the annual rate stated in the Credit Agreement, unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness Obligations or by Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph shall require Mortgagee to incur any expense or do any act hereunder, and Mortgagee shall not be liable to Mortgagor for any damages damage or claims arising out of action taken by Mortgagee pursuant to this paragraph.

Protection of Mortgagee’s Security. Subject to the rights of Mortgagor Mortgagors under paragraph 7 8 hereof, if Mortgagor fails Mortgagors fail to perform any of the covenants and agreements contained in this Mortgage or if any action or proceeding is commenced which has a material negative effect on affects the Mortgaged Properties Property or the interest of the Mortgagee therein, or the title thereto, then Mortgagee, at Mortgagee's ’s option, may perform such covenants and agreements, defend against and/or or investigate such action or proceeding, and take such other action as Mortgagee deems necessary, in its reasonable discretion, necessary to protect Mortgagee's ’s interest. Mortgagee is hereby given the irrevocable power of attorney (which power is coupled with an interest and is irrevocable) to enter upon the Mortgaged Properties as Mortgagor's agent in Mortgagor's name to perform any and all covenants and agreements to be performed by Mortgagor as herein provided if such covenants and agreements are not duly performed by Mortgagor. Any amounts or expenses disbursed or incurred by Mortgagee in good faith pursuant to this paragraph, paragraph 12 with interest thereon, thereon at the rate of 12% per annum shall become additional Indebtedness an Obligation of Mortgagor Mortgagors secured by this Mortgage. Unless Mortgagor Such amounts advanced or disbursed by Mortgagee hereunder shall be immediately due and payable by Mortgagors unless Mortgagors and Mortgagee agree in writing to other terms of repayment, such amounts shall be immediately due and payable, and shall bear interest from the date of disbursement at the annual rate stated in the Credit Agreement, unless collection from Mortgagor 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 Mortgagor under applicable law. Mortgagee shall, at its option, be subrogated to the lien of any mortgage, deed of trust, mortgage or other lien discharged in whole or in part by the Indebtedness Obligations or by Mortgagee under the provision thereofprovisions hereof, and any such subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this paragraph shall require Mortgagee to incur any expense or do any act hereunder, and Mortgagee shall not be liable to Mortgagor Mortgagors for any damages damage or claims arising out of action taken by Mortgagee pursuant to this paragraph.