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

Protection of Mortgagee’s Security. If Mortgagor fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedent, then Mortgagee at Mortgagee’s option may make such appearances, disburse such sums and take such action as Mortgagee deems necessary to protect Mortgagee’s interest, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise of any lien or security interest which is prior to the lien or security interest of this Mortgage, and entry upon the Mortgaged Property to make repairs. At its option, and without limitation, Mortgagee may pay any Impositions, or provide for the maintenance and preservation of the Mortgaged Property. Any amounts disbursed by Mortgagee pursuant to this Paragraph 9, with interest thereon, shall become a portion of the Secured Obligations. Unless Mortgagor and Mortgagee agree to other terms of payment, such amounts shall be payable upon demand from Mortgagee to Mortgagor requesting payment thereof and shall bear interest from the date of disbursement at the default interest rate stated in the Note 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. Mortgagor shall have the right to prepay such amounts in whole or in part at any time without penalty or premium. Nothing contained in this Paragraph 9 shall require Mortgagee to incur any expense or do any act.

Protection of Mortgagee’s Security. If the Mortgagor fails to perform any of the covenants and agreements contained in this MortgageMortgage or in the Loan Agreement after applicable cure periods expire, or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of the Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title thereto, then Mortgagee the Mortgagee, at the Mortgagee’s option option, may make perform such appearancescovenants and agreements, disburse defend against and/or investigate such sums action or proceeding, and take such other action as the Mortgagee deems necessary to protect the Mortgagee’s interest. The Mortgagee shall be the sole judge of the legality, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise validity and priority of any lien or security interest which is prior to the lien or security interest of this Mortgageclaim, lien, encumbrance, tax, assessment, charge and entry upon the Mortgaged Property to make repairs. At its option, premium paid by it and without limitation, Mortgagee may pay any Impositions, or provide for the maintenance and preservation of the Mortgaged Propertyamount necessary to be paid in satisfaction thereof. Any reasonable amounts or expenses disbursed or incurred by the Mortgagee pursuant to this Paragraph 9, Section 16 with interest thereon, shall become a portion additional Indebtedness of the Secured ObligationsMortgagor secured by this Mortgage. Unless the Mortgagor and the Mortgagee agree in writing to other terms of paymentrepayment, such amounts shall be payable upon demand from Mortgagee to Mortgagor requesting payment thereof immediately due and payable, and shall bear interest from as the date of disbursement at the default interest rate stated per annum then in effect on the 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. Mortgagor shall have The Mortgagee shall, at its option, be subrogated to the right to prepay such amounts lien of any mortgage or other lien discharged in whole or in part at by the Indebtedness or by the Mortgagee under the provisions hereof, and any time without penalty or premiumsuch subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this Paragraph 9 herein shall require the Mortgagee to incur any expense or do any actact hereunder, and the Mortgagee shall not be liable to the Mortgagor for any damages or claims arising out of action taken hereby by the Mortgagee.

Protection of Mortgagee’s Security. If 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, Mortgage or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of the Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title thereto, then Mortgagee the Mortgagee, at Mortgagee’s option Mortgagee`s option, may make perform such appearancescovenants and agreements, disburse defend against and/or investigate such sums action or proceeding, and take such other action as the Mortgagee deems necessary to protect project the Mortgagee’s 's interest. Mortgagee shall be the sole judge of the legality, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise validity and priority of any lien or security 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 which and is prior irrevocable) to the lien or security interest of this Mortgage, and entry enter upon the Mortgaged Property as the Mortgagor's agent in the Mortgagor's name to make repairs. At its option, perform any and without limitation, Mortgagee may pay any Impositions, or provide for all covenants and agreements to be performed by the maintenance and preservation of the Mortgaged PropertyMortgagor as herein provided. Any amounts disbursed or incurred by the Mortgagee pursuant to this Paragraph 9paragraph 11, with interest thereon, shall become a portion additional Indebtedness of the Secured ObligationsMortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of paymentrepayment, such amounts shall be payable upon demand from Mortgagee to Mortgagor requesting payment thereof immediately due and payable, and shall bear interest from the date of disbursement at the default rate of interest rate stated provided in the Note Note, 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. Mortgagor shall have Mortgagee shall, at its option, be subrogated to the right to prepay such amounts lien of any mortgage or other lien discharged in whole or in part at by the Indebtedness or by the Mortgagee under the provisions hereof, and any time without penalty or premiumsuch subrogation rights shall additional and cumulative security for this Mortgage. Nothing contained in this Paragraph 9 paragraph 11 shall require the Mortgagee to incur any expense or do any actact 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 paragraph 11.

Protection of Mortgagee’s Security. If Subject to the rights of Mortgagor under paragraph 8 hereof, if Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage, Mortgage or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title thereto, then Mortgagee Mortgagee, at Mortgagee’s option option, may make perform such appearancescovenants and agreements, disburse defend against and/or investigate such sums action or proceeding, and take such other action as Mortgagee deems necessary to protect Mortgagee’s interest. Mortgagee shall be the sole judge of the legality, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise validity and priority of any lien or security 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 which and is prior irrevocable) to the lien or security interest of this Mortgage, and entry enter upon the Mortgaged Property as Mortgagor’s agent in Mortgagor’s name to make repairs. At its option, perform any and without limitation, Mortgagee may pay any Impositions, or provide for the maintenance all covenants and preservation of the Mortgaged Propertyagreements to be performed by Mortgagor as herein provided. Any amounts or expenses disbursed or incurred by Mortgagee pursuant to this Paragraph 9, paragraph 15 with interest thereon, shall become a portion additional Indebtedness of the Secured ObligationsMortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of paymentrepayment, such amounts shall be payable upon demand from Mortgagee to Mortgagor requesting payment thereof immediately due and payable, and shall bear interest from the date of disbursement at the default interest annual rate stated in the Note 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. Mortgagor shall have Mortgagee shall, at its option, be subrogated to the right to prepay such amounts lien of any mortgage or other lien discharged in whole or in part at by Mortgagee under the provisions hereof, and any time without penalty or premiumsuch subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this Paragraph 9 paragraph 15 shall require Mortgagee to incur any expense or do any actact 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 15.

Protection of Mortgagee’s Security. If Subject to the rights of Mortgagor under Section 9 hereof, if Mortgagor fails to perform any of the covenants and agreements contained in this Second Mortgage, or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title thereto, then Mortgagee Mortgagee, at Mortgagee’s option option, may make perform such appearancescovenants and agreements, disburse defend against and/or investigate such sums action or proceeding, and take such other action as Mortgagee deems necessary to protect Mortgagee’s interest. Mortgagee shall be the sole judge of the legality, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise validity and priority of any lien or security 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 which and is prior irrevocable) to the lien or security interest of this Mortgage, and entry enter upon the Mortgaged Property as Mortgagor’s agent in Mortgagor’s name to make repairs. At its option, perform any and without limitation, Mortgagee may pay any Impositions, or provide for the maintenance all covenants and preservation of the Mortgaged Propertyagreements to be performed by Mortgagor as herein provided. Any amounts or expenses disbursed or incurred by Mortgagee pursuant to this Paragraph 9Section 13, with interest thereon, shall become a portion additional Indebtedness of the Secured ObligationsMortgagor secured by this Second Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of paymentrepayment, such amounts shall be payable upon demand from Mortgagee to Mortgagor requesting payment thereof immediately due and payable, and shall bear interest from the date of disbursement at the default interest highest annual rate stated in the Note Discretionary Credit Note, 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. Mortgagor shall have Mortgagee shall, at its option, be subrogated to the right to prepay such amounts lien of any mortgage or other lien discharged in whole or in part at by the Indebtedness or by Mortgagee under the provisions hereof, and any time without penalty or premiumsuch subrogation rights shall be additional and cumulative security for this Second Mortgage. Nothing contained in this Paragraph 9 Section 13 shall require Mortgagee to incur any expense or do any actact hereunder, and Mortgagee shall not be liable to Mortgagor for any damages or claims arising out of action taken by Mortgagee pursuant to this Section 13.

Protection of Mortgagee’s Security. If the Mortgagor fails to perform any of the covenants and agreements contained in this Mortgage, Mortgage or if any action or proceeding is commenced which affects does or may adversely affect the Mortgaged Property or title thereto or the interest of the Mortgagor or Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title of the Mortgagor thereto, then Mortgagee the Mortgagee, at the Mortgagee’s option 's option, may make perform such appearancescovenants and agreements, disburse defend against and/or investigate such sums action or proceeding, and take such other action as the Mortgagee deems necessary to protect the Mortgagee’s 's interest. The Mortgagee shall be the sole judge of the legality, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise validity and priority of any lien claims, liens, encumbrances, taxes, assessments, charges and premiums paid by it and of the amount necessary to be paid in satisfaction thereof. In the event that, after damage to or security interest which is prior to the lien or security interest destruction of this Mortgage, and entry upon the Mortgaged Property to make repairs. At its option, and without limitation, Mortgagee may pay any Impositions, or provide for the maintenance and preservation condemnation of the Mortgaged Property. Any amounts disbursed by Mortgagee pursuant to this Paragraph 9, with interest thereon, shall become a portion of the Secured Obligations. Unless Mortgagor Mortgaged Property or a sale under threat thereof, the Mortgagee elects to restore the Mortgaged Property, and the insurance, sale or condemnation proceeds, as the case may be, which are paid to the Mortgagee agree are not sufficient to other terms pay for such restoration, the Mortgagee may effect the restoration in such manner as it determines, and the cost thereof in excess of paymentsuch proceeds, such amounts shall be payable upon demand from Mortgagee to Mortgagor requesting payment thereof and shall bear together with interest thereon from the date of disbursement at the default interest rate stated provided in the 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. Mortgagor The Mortgagee shall, at its option be subrogated to any encumbrance, lien, claim or demand, and to all the rights and securities for payment thereof, paid or discharged with the principal sum secured hereby or by the Mortgagee under the provisions hereof, and any such subrogation rights shall have the right to prepay such amounts in whole or in part at any time without penalty or premiumbe additional and cumulative security for this Mortgage. Nothing contained in this Paragraph paragraph 9 shall require the Mortgagee to incur any expense or do any actact 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 paragraph 9.

Protection of Mortgagee’s Security. If Mortgagor fails to perform the covenants an Event of Default shall have occurred and agreements contained in this Mortgagebe continuing, or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Mortgagee at Mortgagee’s option may make such appearances, disburse such sums and take such action as Mortgagee deems necessary necessary, in its sole discretion, to protect Mortgagee’s interest, including, but not limited to, (i) disbursement of attorneys’ fees, payment, contest or compromise of any lien or security interest which is prior to the lien or security interest of this Mortgage, and (ii) entry upon the Mortgaged Property to make repairs. At its option, and without limitation, Mortgagee may pay any Impositions, or provide for the maintenance and preservation (iii) procurement of the Mortgaged Propertysatisfactory insurance as provided in Section 5 hereof. Any amounts disbursed by Mortgagee pursuant to this Paragraph 9Section 8, with interest thereon, shall become a portion additional Indebtedness of the Secured ObligationsBorrower secured by this Instrument. Unless Mortgagor Borrower and Mortgagee agree to other terms of payment, such amounts shall be immediately due and payable upon demand from Mortgagee to Mortgagor requesting payment thereof and shall bear interest from the date of disbursement at the default interest rate stated in the Note 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. Mortgagor Borrower hereby covenants and agrees that Mortgagee shall have be subrogated to the right to prepay such amounts lien of any mortgage or other lien discharged, in whole or in part at any time without penalty or premiumpart, by the Indebtedness. Nothing contained in this Paragraph 9 Section 8 shall require Mortgagee to incur any expense or do take any actaction hereunder. Notwithstanding the foregoing, at Mortgagee’s option, any additional advances made by Mortgagee (i) to protect 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. If the Mortgagor fails to perform any of the covenants and agreements contained in this MortgageMortgage 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 affects the Mortgaged Property or title thereto or the interest of the Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title thereto, then Mortgagee the Mortgagee, at Mortgagee’s option option, may make perform such appearancescovenants and agreements, disburse defend against and/or investigate such sums action or proceeding, and take such other action as the Mortgagee deems necessary to protect the Mortgagee’s interest, including, but not limited to, disbursement . Mortgagee is hereby given the irrevocable power of attorneys’ fees, payment, contest or compromise of any lien or security attorney (which power is coupled with an interest which and is prior irrevocable) to the lien or security interest of this Mortgage, and entry enter upon the Mortgaged Property as the Mortgagor’s agent in its name to make repairs. At its option, perform any and without limitation, Mortgagee may pay any Impositions, or provide for all covenants and agreements to be performed by the maintenance and preservation of the Mortgaged PropertyMortgagor as herein provided. Any amounts or expenses disbursed or incurred by the Mortgagee pursuant to this Paragraph 9Section 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 a portion additional indebtedness of the Secured ObligationsMortgagor secured by this Mortgage. Unless Mortgagor and Mortgagee agree in writing to other terms of paymentrepayment, such amounts shall be payable upon demand from Mortgagee to Mortgagor requesting payment thereof immediately due and payable, and shall bear interest from the date of disbursement ten (10) days following written demand for such amounts at the default interest rate stated of one percent (1.00%) per annum in excess of the Note “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. Mortgagor shall have Mortgagee shall, at its option, be subrogated to the right to prepay such amounts lien of any mortgage or other lien discharged in whole or in part at by the indebtedness or by the Mortgagee under the provisions hereof, and any time without penalty or premiumsuch subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this Paragraph 9 Section 3.03 shall require the Mortgagee to incur any expense or do any actact 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 Section 3.03.

Protection of Mortgagee’s Security. If Mortgagor fails Subject to the rights of Mortgagors under paragraph 8 hereof, if Mortgagors fail to perform any of the covenants and agreements contained in this Mortgage, Mortgage or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of the Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title thereto, then Mortgagee Mortgagee, at Mortgagee’s option 's option, may make perform such appearancescovenants and agreements, disburse defend against or investigate such sums action or proceeding, and take such other action as Mortgagee deems necessary to protect Mortgagee’s 's interest, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise of any lien or security interest which is prior to the lien or security interest of this Mortgage, and entry upon the Mortgaged Property to make repairs. At its option, and without limitation, Mortgagee may pay any Impositions, or provide for the maintenance and preservation of the Mortgaged Property. Any amounts or expenses disbursed or incurred by Mortgagee in good faith pursuant to this paragraph 12 with interest thereon at the rate of % per annum, shall become an Obligation of Mortgagors secured by this Mortgage. Such amounts advanced or disbursed by Mortgagee pursuant to this Paragraph 9, with interest thereon, hereunder shall become a portion of the Secured Obligations. Unless Mortgagor be immediately due and payable by Mortgagors unless Xxxxxxxxxx and Mortgagee agree in writing to other terms of paymentrepayment. Mortgagee shall, such amounts shall at its option, be payable upon demand from Mortgagee subrogated to Mortgagor requesting payment thereof and shall bear interest from the date lien of disbursement at the default interest rate stated in the Note 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. Mortgagor shall have the right to prepay such amounts any mortgage or other lien discharged in whole or in part at by the Obligations or by Mortgagee under the provisions hereof, and any time without penalty or premiumsuch subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this Paragraph 9 paragraph shall require Mortgagee to incur any expense or do any actact hereunder, and Mortgagee shall not be liable to Mortgagors for any damage or claims arising out of action taken by Mortgagee pursuant to this paragraph.

Protection of Mortgagee’s Security. If 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, Mortgage or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of Mortgagee the Mortgage therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title thereto, then Mortgagee the Mortgagee, at Mortgagee’s option 's option, upon 30 days written notice to Mortgagor may make perform such appearancescovenants and agreements, disburse defend against or investigate such sums action or proceeding, and take such other action as the Mortgagee deems necessary to protect the Mortgagee’s 's interest. Mortgagee shall be the sole judge of the legality, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise validity and priority of any lien or security interest which claim, lien, encumbrance, tax, assessment, charge and premium paid by it and of the amount necessary to be paid in satisfaction thereof. Mortgagee is prior hereby given the authority to the lien or security interest of this Mortgage, and entry enter upon the Mortgaged Property as the Mortgagor's agent in the Mortgagor's name to make repairs. At its option, perform any and without limitation, Mortgagee may pay any Impositions, or provide for all covenants and agreements to be performed by the maintenance and preservation of the Mortgaged PropertyMortgagor as herein provided. Any amounts or expenses disbursed or incurred by the Mortgagee pursuant to this Paragraph 9, paragraph 11 with interest thereon, shall become a portion additional Indebtedness of the Secured ObligationsMortgagor secured by this Mortgage 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 paymentrepayment, such amounts shall be payable upon demand from Mortgagee to Mortgagor requesting payment thereof immediately due and payable, and shall bear interest from the date of disbursement at the default interest rate stated in provided by the Note 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. Mortgagor shall have Mortgagee shall, at its option, be subrogated to the right to prepay such amounts lien of any mortgage or other lien discharged in whole or in part at by the Indebtedness or by the Mortgagee under the provisions hereof, and any time without penalty or premiumsuch subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this Paragraph 9 paragraph 11 shall require the Mortgagee to incur any expense or do any actact 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 paragraph 11.

Protection of Mortgagee’s Security. If Mortgagor fails Subject to the rights of Mortgagors under paragraph 8 hereof, if Mortgagors fail to perform any of the covenants and agreements contained in this Mortgage, Mortgage or if any action or proceeding is commenced which affects the Mortgaged Property or title thereto or the interest of the Mortgagee therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedentthe title thereto, then Mortgagee Mortgagee, at Mortgagee’s option option, may make perform such appearancescovenants and agreements, disburse defend against or investigate such sums action or proceeding, and take such other action as Mortgagee deems necessary to protect Mortgagee’s interest, including, but not limited to, disbursement of attorneys’ fees, payment, contest or compromise of any lien or security interest which is prior to the lien or security interest of this Mortgage, and entry upon the Mortgaged Property to make repairs. At its option, and without limitation, Mortgagee may pay any Impositions, or provide for the maintenance and preservation of the Mortgaged Property. Any amounts or expenses disbursed or incurred by Mortgagee in good faith pursuant to this paragraph 12 with interest thereon at the rate of 12% per annum shall become an Obligation of Mortgagors secured by this Mortgage. Such amounts advanced or disbursed by Mortgagee pursuant to this Paragraph 9, with interest thereon, hereunder shall become a portion of the Secured Obligations. Unless Mortgagor be immediately due and payable by Mortgagors unless Mortgagors and Mortgagee agree in writing to other terms of paymentrepayment. Mortgagee shall, such amounts shall at its option, be payable upon demand from Mortgagee subrogated to Mortgagor requesting payment thereof and shall bear interest from the date lien of disbursement at the default interest rate stated in the Note 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. Mortgagor shall have the right to prepay such amounts any mortgage or other lien discharged in whole or in part at by the Obligations or by Mortgagee under the provisions hereof, and any time without penalty or premiumsuch subrogation rights shall be additional and cumulative security for this Mortgage. Nothing contained in this Paragraph 9 paragraph shall require Mortgagee to incur any expense or do any actact hereunder, and Mortgagee shall not be liable to Mortgagors for any damage or claims arising out of action taken by Mortgagee pursuant to this paragraph.