Common use of Protection of Security; Costs and Expenses Clause in Contracts

Protection of Security; Costs and Expenses. A. Grantor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of title and reasonable attorneys’ fees and expenses, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. If Grantor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligations, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment and costs of appeal. D. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan Agreement. All such amounts shall be payable by Grantor upon written demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 3 contracts

Samples: Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (Crimson Wine Group, LTD), Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (Crimson Wine Group, LTD), Trust Deed, Assignment of Rents, Security Agreement and Fixture Filing (Crimson Wine Group, LTD)

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Protection of Security; Costs and Expenses. A. Grantor Trustor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Trustor and without releasing Grantor Trustor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of amounts due under the ObligationsP/M Note, whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in of ten percent (10%) per annum, or the Loan Agreementmaximum rate permitted by law, if less. All such amounts shall be payable by Grantor upon written Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Limoneira CO), Purchase and Sale Agreement (Limoneira CO)

Protection of Security; Costs and Expenses. A. Grantor Trustor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Trustor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s 's interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Trustor and without releasing Grantor Trustor from any obligation hereunder, make such appearances, commence, defend or appear in any such action or proceeding affecting the Mortgaged Property, pay, contest or compromise any encumbrance, charge or lien which affects the Mortgaged Property, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s 's interest, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the ObligationsNote or any Future Advances, whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementNote. All such amounts shall be payable by Grantor upon written Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 2 contracts

Samples: Construction Deed of Trust (Redwood Mortgage Investors Viii), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Redwood Mortgage Investors Viii)

Protection of Security; Costs and Expenses. A. Grantor Trustor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Trustor further agrees that it will execute such additional documents or amendments to this Deed of Trust, the Note or the Related Agreements as Beneficiary may reasonably request to insure that such documents reflect the party’s agreement with regard to the business terms agreed upon by the parties hereto. Trustor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Trustor and without releasing Grantor Trustor from any obligation hereunder, make such appearances, commence, defend or appear in any such action or proceeding affecting the Mortgaged Property, pay, contest or compromise any encumbrance, charge or lien which affects the Mortgaged Property, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the ObligationsNote or any Future Advances, whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementNote. All such amounts shall be payable by Grantor upon written Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 2 contracts

Samples: Deed of Trust (Redwood Mortgage Investors IX), Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Redwood Mortgage Investors Viii)

Protection of Security; Costs and Expenses. A. Grantor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Grantor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, and if Grantor fails to cure any breach within the time period set forth in Article II below, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to or demand upon Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligations, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment and costs of appeal. D. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan Agreement. All such amounts shall be payable by Grantor upon written demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 2 contracts

Samples: Credit Agreement (Quixote Corp), Credit Agreement (Quixote Corp)

Protection of Security; Costs and Expenses. A. Grantor (A) In addition to any other rights or remedies of Mortgagee hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuance of an Event of Default (or prior thereto after notice to Mortgagor, when possible, if Mortgagor is not paying or performing the act itself and Mortgagee determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of this Mortgage or any other collateral securing the indebtedness evidenced by the Note, either before or after acceleration of the indebtedness) Mortgagee may, but shall not be required to, make any payment or perform any act required to be performed by Mortgagor hereunder or under any of the Related Agreements in any form and manner deemed expedient to Mortgagee, including, without limitation, if applicable: (1) paying any Impositions which remain unpaid; (2) procuring the release, discharge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Mortgagor in accordance with the provisions of this Mortgage or any of the Related Agreements, and (3) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Mortgagor had obtained the same has not been delivered to Mortgagee as required hereunder. Nothing herein shall be construed to require Mortgagee to advance or expend monies for any purpose mentioned herein, or for any other purpose. (B) Mortgagor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Mortgage or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees ' and expensesparalegals' fees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Mortgagee hereunder or under any other security for the obligations secured hereby. If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects Beneficiary’s Mortgagee's interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Mortgagor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor shall further agrees to pay all reasonable expenses of Beneficiary Mortgagee actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary Mortgagee hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. (C) Mortgagor shall pay to Mortgagee, immediately upon written notice from Mortgagee: (i) all recordation, transfer, stamp, documentary or other fees or taxes levied on Mortgagee (exclusive of Mortgagee's income taxes) by reason of the making or recording of the Note, this Mortgage or any Related Agreement, and (ii) all intangible property taxes levied upon any holder of the Note or Mortgagee under this Mortgage or secured party under the Related Agreements. Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 or Section 1.13, including, without limitation, reasonable attorneys' and paralegals' fees, whether or not the indebtedness as a result thereof shall exceed the face amount of the Note, shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust Mortgage and each of the Loan Documents Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor Mortgagor immediately upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 2 contracts

Samples: Mortgage, Assignment of Leases, Rents and Contracts, Security Agreement and Fixture Filing (Inland Western Retail Real Estate Trust Inc), Mortgage, Assignment of Leases, Rents and Contracts, Security Agreement and Fixture Filing (Inland Western Retail Real Estate Trust Inc)

Protection of Security; Costs and Expenses. A. Grantor (A) In addition to any other rights or remedies of Mortgagee hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuance of an Event of Default (or prior thereto after notice to Mortgagor, when possible, if Mortgagor is not paying or performing the act itself and Mortgagee determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of this Mortgage or any other collateral securing the indebtedness evidenced by the Note, either before or after acceleration of the indebtedness) Mortgagee may, but shall not be required to, make any payment or perform any act required to be performed by Mortgagor hereunder or under any of the Related Agreements in any form and manner deemed expedient to Mortgagee, including, without limitation, if applicable: (1) paying any Impositions which remain unpaid; (2) procuring the release, discharge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Mortgagor in accordance with the provisions of this Mortgage or any of the Related Agreements, and (3) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Mortgagor had obtained the same has not been delivered to Mortgagee as required hereunder. Nothing herein shall be construed to require Mortgagee to advance or expend monies for any purpose mentioned herein, or for any other purpose. (B) Mortgagor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Mortgage or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expensesparalegals’ fees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Mortgagee hereunder or under any other security for the obligations secured hereby. If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects BeneficiaryMortgagee’s interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Mortgagor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor shall further agrees to pay all reasonable expenses of Beneficiary Mortgagee actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary Mortgagee hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. (C) Mortgagor shall pay to Mortgagee, immediately upon written notice from Mortgagee: (i) all recordation, transfer, stamp, documentary or other fees or taxes levied on Mortgagee (exclusive of Mortgagee’s income taxes) by reason of the making or recording of the Note, this Mortgage or any of the Related Agreements, and (ii) all intangible property taxes levied upon any holder of the Note or Mortgagee under this Mortgage or secured party under the Related Agreements. Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 or Section 1.13, including, without limitation, reasonable attorneys’ and paralegals’ fees, whether or not the indebtedness as a result thereof shall exceed the face amount of the Note, shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust Mortgage and each of the Loan Documents Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor Mortgagor immediately upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases, Rents and Contracts, Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.)

Protection of Security; Costs and Expenses. A. Grantor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s 's or Trustee's interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, enforcement or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to or demand upon Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s 's or Trustee's interest, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. . Grantor further agrees to pay all reasonable expenses of Beneficiary or Trustee (including without limitation fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 53 shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable default rate of interest rate set forth provided in the Loan AgreementNotes. All such amounts shall be payable by Grantor upon written immediately without demand. Nothing contained in this Section 1.12 53 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement (Hispanic Television Network Inc)

Protection of Security; Costs and Expenses. A. Grantor (A) In addition to any other rights or remedies of Mortgagee hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the existence of an Event of Default (or prior thereto after notice to Mortgagor, when possible, if Mortgagor is not paying or performing the act itself and Mortgagee determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of this Mortgage or any other collateral securing the indebtedness evidenced by the Note, either before or after acceleration of the indebtedness) Mortgagee may, but shall not be required to, make any payment or perform any act required to be performed by Mortgagor hereunder or under any of the Related Agreements in any form and manner deemed expedient to Mortgagee, including, without limitation, if applicable (i) paying any Impositions which remain unpaid; (ii) procuring the release, discharge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Mortgagor in accordance with the provisions of this Mortgage or any of the Related Agreements, and (iii) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Xxxxxxxxx had obtained the same has not been delivered to Mortgagee as required hereunder. Nothing herein shall be construed to require Mortgagee to advance or expend monies for any purpose mentioned herein, or for any other purpose. (B) Mortgagor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Mortgage or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Mortgagee hereunder or under any other security for the obligations secured hereby. If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects BeneficiaryMortgagee’s interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Mortgagor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor shall further agrees to pay all reasonable expenses of Beneficiary Mortgagee actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary Mortgagee hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. (C) Mortgagor shall pay to Mortgagee, promptly upon written notice from Mortgagee: (i) all recordation, transfer, stamp, documentary or other fees or taxes levied on Mortgagee (exclusive of Mortgagee’s franchise or income taxes) by reason of the making or recording of the Note, this Mortgage or any Related Agreement, and (ii) all intangible property taxes levied upon any holder of the Note or Mortgagee under this Mortgage or secured party under the Related Agreements. Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 section, including, without limitation, reasonable attorneys’ fees, whether or not the indebtedness as a result thereof shall exceed the face amount of the Note, shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust Mortgage and each of the Loan Documents Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor Xxxxxxxxx promptly upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage Agreement (GTJ REIT, Inc.)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, Mortgagee hereunder and shall pay all actual, out-of-pocket costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys' fees and expensesdisbursements, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary Mortgagee hereunder. B. . If Grantor fails to perform any an Event of the covenants or agreements contained in Default occurs under this Deed of TrustMortgage, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of this Mortgage or which adversely affects Beneficiary’s Mortgagee's interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcementenforcement of, or proceedings of any nature whatsoever under any federal Legal Requirement affecting the Mortgaged Property or state law, whether now existing or hereafter enacted or amended, relating to involving Mortgagor's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee, upon reasonable notice to Mortgagor, may, but without obligation to do so upon reasonable notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor Mortgagor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee deems reasonably necessary or appropriate to protect Beneficiary’s interestMortgagee's interest in the Mortgaged Property, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection . All of the rights of Beneficiary hereundercosts, or to enforcement or collection of payment of the Obligations, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment expenses and costs of appeal. D. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan Agreement. All such amounts this Section 19 shall be payable by Grantor Mortgagor, on demand and, together with interest thereon at a rate equal to the weighted average of the rates then in effect with respect to the Mortgage Notes, from the date of any such payment by Mortgagee until the date of repayment by Mortgagor, shall be deemed to be Indebtedness hereunder and shall be a Lien on the Mortgaged Property prior to any right, title, interest or claim upon written demandthe Mortgaged Property (subject to the provisions of Section 12(d)). Nothing contained in this Section 1.12 12 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Assignment of Rents (Urban Shopping Centers Inc)

Protection of Security; Costs and Expenses. A. Grantor Borrower shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, Lender hereunder and shall pay all costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys' fees and expensesdisbursements, in any such action or proceeding in which Beneficiary or Trustee may appearproceeding, and in any suit brought by Beneficiary Lender to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Lender hereunder upon the occurrence and during the continuance of an Event of Default. If Grantor fails to perform any an Event of the covenants or agreements contained in Default occurs under this Deed of TrustMortgage, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of this Mortgage or which adversely affects Beneficiary’s Lender or Lender's interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcementenforcement of, or proceedings of any nature whatsoever under any federal Legal Requirement affecting the Mortgaged Property or state law, whether now existing or hereafter enacted or amended, relating to involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or then Lender, upon reasonable notice to a decedentBorrower, then Beneficiary or Trustee may, but without obligation to do so upon reasonable notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Beneficiary or Trustee Lender reasonably deems reasonably necessary or appropriate to protect Beneficiary’s interestLxxxxx's interest in the Mortgaged Property, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of either Beneficiary or Trustee Lender appears to be prior or superior hereto. C. Grantor ; provided, however, that the foregoing shall be subject to Borrower's rights to contest under Section 7(c) hereof and Lender shall not pay or discharge any lien, encumbrance or charge being contested by Borrower in accordance with Section 7(c) hereof. Borrower further agrees to pay all reasonable costs and expenses of Beneficiary (Lender including reasonable attorneys' fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligations, whether incurred by judicial or non-judicial proceedings, or Lxxxxx in connection with any bankruptcy(a) the negotiation, insolvencypreparation, arrangementexecution and delivery of this Mortgage, reorganization or the Note and the other debtor relief proceeding Loan Documents, and (b) the enforcement of Grantorits rights under this Mortgage, or otherwisethe Note, and the other Loan Documents, but not including ordinary in-house costs of collection of judgment and costs of appeal. D. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor secured by this Deed of Trust and each administering the Loan. All of the Loan Documents as of the date of disbursement costs, expenses and shall bear interest at the variable interest rate amounts set forth in the Loan Agreement. All such amounts this Section 17 shall be payable by Grantor Bxxxxxxx, on demand and, together with interest thereon at the Default Rate, if the same are not paid within ten (10) Business Days after demand therefor by Lxxxxx, until the date of repayment by Bxxxxxxx, shall be deemed to be Indebtedness hereunder and shall be a Lien on the Mortgaged Property prior to any right, title, interest or claim upon written demandthe Mortgaged Property (subject to the provisions of Section 11(c) hereof). Nothing contained in this Section 1.12 17 shall be construed to require Beneficiary or Trustee Lender to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Secured Indebtedness Agreement (Parkway Properties Inc)

Protection of Security; Costs and Expenses. A. Grantor Mortgagors shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all reasonable costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed Mortgage upon the occurrence of Trust an Event of Default or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Mortgagee hereunder upon the occurrence of an Event of Default. If Grantor fails Mortgagors fail to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects Beneficiary’s Mortgagee's interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then if an Event of Default exists hereunder (or, if no Event of Default exists hereunder, if Mortgagors fail, within thirty (30) days after notice by Mortgagee to Mortgagors [or such shorter notice period as the exigencies of the situation may require], to a decedenttake appropriate action to correct such failure, then Beneficiary or Trustee etc., subject, however, to Mortgagors' contest rights under this Mortgage, to the extent applicable) Mortgagee may, but without obligation to do so upon reasonable and without further notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Mortgagors and without releasing Grantor Mortgagors from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee reasonably deems reasonably necessary or appropriate to protect Beneficiary’s Mortgagee's interest, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien lien, other than the Permitted Encumbrances, which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagors further agrees agree to pay all reasonable expenses of Beneficiary Mortgagee (including without limitation attorneys' fees and disbursements of counseldisbursements) incident to the protection of the rights of Beneficiary Mortgagee hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagors, or otherwise, including costs otherwise in connection with an Event of collection of judgment and costs of appeal. D. Default. Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Mortgagors secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in Default Rate from the Loan Agreementdate of demand therefor. All such amounts shall be payable by Grantor Mortgagors immediately upon written demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Fixture Filing (Beacon Properties Corp)

Protection of Security; Costs and Expenses. A. Grantor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeGrantee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee Grantee may appear, and in any suit brought by Beneficiary Grantee to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary Grantee hereunder. B. . If Grantor fails to perform any of the covenants or agreements contained in this Deed of TrustDeed, or if any action or proceeding is commenced which affects Beneficiary’s Grantee's interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Grantee may, but without obligation to do so upon reasonable and without notice to or demand upon Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Grantee deems reasonably necessary or appropriate to protect Beneficiary’s Grantee's interest, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Grantee appears to be prior or superior hereto. C. . Grantor further agrees to pay all reasonable expenses of Beneficiary Grantee (including without limitation fees and disbursements of counsel) incident to the protection of the rights of Beneficiary Grantee hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee Grantee pursuant to this Section 1.12 shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementDefault Rate. All such amounts shall be payable by Grantor upon written immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Grantee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed to Secure Debt and Security Agreement (Century Properties Fund Xix)

Protection of Security; Costs and Expenses. A. Grantor (A) In addition to any other rights or remedies of Beneficiary hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuation of an Event of Default (or prior thereto after notice to Trustor, when possible, if Trustor is not paying or performing the act itself and Beneficiary determines in its sole good faith judgment that the same is necessary to preserve the Property or the lien of this Deed of Trust or any other collateral securing the indebtedness evidenced by the Note, either before or after acceleration of the indebtedness) Beneficiary may, but shall not be required to, make any payment or perform any act required to be performed by Trustor hereunder or under any of the Related Agreements in any form and manner deemed expedient to Beneficiary, including, without limitation, if applicable: (i) paying any Impositions which remain unpaid; (ii) procuring the release, discharge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Trustor in accordance with the provisions of this Deed of Trust or any of the other Related Agreements, and (iii) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Trustor had obtained the same has not been delivered to Beneficiary as required hereunder. Nothing herein shall be construed to require Beneficiary to advance or expend monies for any purpose mentioned herein, or for any other purpose. (B) Trustor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Deed of Trust or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder or under any other security for the obligations secured hereby. If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Trustor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor shall further agrees to pay all reasonable expenses of Beneficiary actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. (C) Trustor shall pay to Beneficiary, immediately upon written notice from Beneficiary: (i) all recordation, transfer, stamp, documentary or other fees or taxes levied on Beneficiary (exclusive of Beneficiary’s income taxes) by reason of the making or recording of the Note, this Deed of Trust or any Related Agreement, and (ii) all intangible property taxes levied upon any holder of the Note or Beneficiary under this Deed of Trust or secured party under the Related Agreements. Any amounts disbursed by Beneficiary or Trustee pursuant to this section or Section 1.12 1.13, including, without limitation, reasonable attorneys’ fees, whether or not the indebtedness as a result thereof shall exceed the face amount of the Note, shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor Trustor immediately upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed of Trust (Amerivest Properties Inc)

Protection of Security; Costs and Expenses. A. Grantor Trustor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Trustor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all reasonable costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expenses(including, without limitation, the allocated cost of internal counsel), in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of or any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Trustor and without releasing Grantor Trustor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligationsany Secured Obligation, whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor a Secured Obligation secured by this Deed of Trust and each of the Loan Documents to which Trustor is a party as of the date of disbursement and shall bear interest at the variable post-maturity interest rate set forth provided for in Section 2.10(c) of the Loan Credit Agreement. All such amounts shall be payable by Grantor upon written Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action. Attorneys’ fees of Beneficiary reimbursable hereunder shall include all fees and disbursements of any law firm or other external counsel.

Appears in 1 contract

Samples: Credit Agreement (American Realty Capital Trust, Inc.)

Protection of Security; Costs and Expenses. A. Grantor Trustor shall appear in and defend any action or proceeding purporting proposing to adversely affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including cost without limitation costs of evidence of title and reasonable attorneys' fees and expenses, as determined by the judge of the court in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which adversely affects Beneficiary’s 's interest in the Mortgaged Trust Property or any part thereof, including but not limited to, eminent domain, code enforcement, or proceedings proceeding of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedentotherwise, then Beneficiary or Trustee may, but without obligation obligations to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Trustor and without releasing Grantor Trustor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s 's interest, including including, but not limited to, disbursement of reasonable attorneys's fees, entry upon the Mortgaged Trust Property to make repairs or take other action to otherwise protect the security hereofthereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to and enforcement or collection of payment of the ObligationsNote, or any advancements under Sections 12 or 14 hereof, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts amount disbursed by Beneficiary or Trustee pursuant to this Section 1.12 32 shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest contract rate set forth or referred to in the Loan AgreementNote before demand. All such amounts shall be payable by Grantor Trustor upon written demanddemand and shall thereafter bear interest at the Default Rate set forth or referred to in the Note. Nothing contained in this Section 1.12 33 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Loan Agreement (Alanco Technologies Inc)

Protection of Security; Costs and Expenses. A. Grantor Borrower shall appear in and defend any action or proceeding purporting to affect materially and adversely the security hereof or the rights or powers of the Beneficiary Lender or Trustee, and shall pay all reasonable costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys’ fees and expensesfees, as determined by the judge of the court in any such action or proceeding in which Beneficiary Lender or Trustee may appear, and in any suit brought by Beneficiary Xxxxxx to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Xxxxxx xxxxxxxxx. If Grantor Borrower fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which adversely affects BeneficiaryLender’s interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary Lender or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Borrower and without releasing Grantor Borrower from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary Lender or Trustee deems reasonably necessary or appropriate to protect BeneficiaryLender’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to otherwise protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary Lender or Trustee appears to be prior or superior hereto. C. Grantor . Xxxxxxxx further agrees to pay all reasonable expenses of Beneficiary Xxxxxx (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunderXxxxxx xxxxxxxxx, or to and enforcement or collection of payment of the Obligations, Note or any Future Advances whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorBorrower, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary Lender or Trustee pursuant to this Section 1.12 section shall be additional indebtedness of Grantor Borrower secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementInterest Rate prior to demand. All such amounts shall be payable by Grantor Borrower upon written demanddemand and shall thereafter bear interest at the Interest Rate due and payable following the occurrence of an Event of Default pursuant to the terms of the Loan Agreement (the “Default Rate”). Nothing contained in this Section 1.12 1.10 shall be construed to require Beneficiary Lender or Trustee to incur any expense, make any appearance, or take any other action. Notwithstanding any provision in this paragraph to the contrary, if any dispute contemplated under the terms of this paragraph results in litigation, the prevailing party shall, in addition to any other relief granted or awarded by the court, be entitled to an award of reasonable attorneys’ fees to be determined by the judge of the court.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Leases and Rents and Security Agreement (IMH Financial Corp)

Protection of Security; Costs and Expenses. A. Grantor Trustor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Trustor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys' fees and expenses(including, without limitation, the reasonable allocated cost of internal counsel), in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s 's interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of or any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Trustor and without releasing Grantor Trustor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s 's interest, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor further agrees to pay all reasonable expenses of Beneficiary (including reasonable fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligationsany Secured Obligation, whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor a Secured Obligation secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable post-maturity interest rate set forth provided for in Section 2.09(c) of the Loan Credit Agreement. All such amounts shall be payable by Grantor upon written Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action. Attorneys' fees of Beneficiary reimbursable hereunder shall include, without limitation, all fees and disbursements of any law firm or other external counsel, the allocated cost of internal legal services and all disbursements of internal counsel.

Appears in 1 contract

Samples: Credit Agreement (Apartment Investment & Management Co)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary Mortgagee hereunder. B. . If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects BeneficiaryMortgagee’s interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Mortgagor and without releasing Grantor Mortgagor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee deems reasonably necessary or appropriate to protect BeneficiaryMortgagee’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor further agrees to pay all reasonable expenses of Beneficiary Mortgagee incurred upon an Event of Default (including without limitation fees and disbursements of counsel) incident to the protection of the rights of Beneficiary Mortgagee hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness and/or the STAG IV Indebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust the Loan Documents and each of the STAG IV Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth Default Rate (as defined in the Loan Agreement). All such amounts shall be payable by Grantor upon written Mortgagor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Master Loan Agreement (STAG Industrial, Inc.)

Protection of Security; Costs and Expenses. A. Grantor Trustor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeBeneficiary, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneysAttorneysfees and expensesFees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder (including, without limitation, any action pursuant to Civil Procedure Code Section 726.5). If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust within any applicable notice and cure periods provided for in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then after compliance with the applicable notice and cure provisions provided for in this Deed of Trust, Beneficiary or Trustee may, but without obligation to do so upon reasonable and without further notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Trustor and without releasing Grantor Trustor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including including, but not limited to, disbursement of reasonable attorneysAttorneysfeesFees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor further agrees to pay all reasonable expenses of Beneficiary and Trustee (including fees without limitation Attorney’s Fees and disbursements of counseldisbursements) (i) incident to the protection of the rights of Beneficiary hereunder, or (ii) incident to the enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs or (iii) in connection with any title insurance coverage ordered in connection with any foreclosure proceedings hereunder. Trustor also agrees to pay all taxes (except federal and state income taxes) and other governmental charges or impositions imposed by any governmental authority on Beneficiary by reason of collection of judgment and costs of appeal. D. their interest in the Loan Documents. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 46 shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementDefault Rate. All such amounts shall be payable by Grantor upon written Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Leasehold Deed of Trust, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Highland Hospitality Corp)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary Mortgagee hereunder. B. . If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects BeneficiaryMortgagee’s interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Mortgagor and without releasing Grantor Mortgagor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee deems reasonably necessary or appropriate to protect BeneficiaryMortgagee’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor further agrees to pay all reasonable expenses of Beneficiary Mortgagee incurred upon an Event of Default (including without limitation fees and disbursements of counsel) incident to the protection of the rights of Beneficiary Mortgagee hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth Default Rate (as defined in the Loan Agreement). All such amounts shall be payable by Grantor upon written Mortgagor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Master Loan Agreement (STAG Industrial, Inc.)

Protection of Security; Costs and Expenses. A. Grantor Mortgagors shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, Mortgagee hereunder and shall pay all costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys' fees and expensesdisbursements, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary Mortgagee hereunder. B. . If Grantor fails to perform any an Event of the covenants or agreements contained in Default occurs and is continuing under this Deed of TrustMortgage, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of this Mortgage or which adversely affects Beneficiary’s Mortgagee's interest in the Mortgaged Property Property, or any part thereof, including including, but not limited to, eminent domain, code enforcementenforcement of, or proceedings of any nature whatsoever under any federal Legal Requirement affecting the Mortgaged Property or state law, whether now existing or hereafter enacted or amended, relating to involving either of Mortgagor's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or then Mortgagee, upon reasonable notice to a decedentMortgagors, then Beneficiary or Trustee may, but without obligation to do so upon reasonable notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor Mortgagors from any obligation hereunder, may make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee deems reasonably necessary or appropriate to protect Beneficiary’s interestMortgagee's interest in the Mortgaged Property, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagors jointly and severally further agrees agree to pay all reasonable costs and expenses of Beneficiary (including Mortgagee including, without limitation, reasonable fees and disbursements of counselSkadden, Arps, Slate, Meagher & Flox xx, xith xxxpect to clause (b) incident to the protection only, any other counsel of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligations, whether by judicial or non-judicial proceedings, or Mortgagee in connection with (a) the negotiation, preparation, execution and delivery of this Mortgage, the Notes and the other Loan Documents, and (b) the performance of their respective obligations and exercise of their respective rights under this Mortgage, the Notes, the Credit Agreement or the other Loan Documents; provided that Mortgagors, for so long as an Event of Default or any bankruptcyevent which has a Material Adverse Effect has not occurred and is continuing, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment and costs of appeal. D. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness responsible, but not more than once in any twenty-four (24) month period with respect to each Property, for the reasonable costs payable to third parties with respect to future appraisals (or, if appropriate only updates of Grantor secured by this Deed of Trust previous appraisals) and each other reports required prior time to time in accordance with Agent's policies, as set in accordance with regulatory requirements. All of the Loan Documents as of the date of disbursement costs, expenses and shall bear interest at the variable interest rate amounts set forth in the Loan Agreement. All such amounts this Section 16 shall be payable by Grantor Mortgagors on demand, together with interest thereon at the rate then in effect with respect to the Notes (except during the continuance of an Event of Default in which case interest shall accrue at the Default Rate), from the date of any such payment by Mortgagee until the date of repayment by Mortgagors shall be deemed to be Indebtedness hereunder and shall be a Lien on the Mortgaged Property prior to any right, title, interest or claim upon written demandthe Mortgaged Property. Nothing contained in this Section 1.12 16 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage Modification, Restatement and Security Agreement (Metropolis Realty Trust Inc)

Protection of Security; Costs and Expenses. A. Grantor Borrower shall appear in and defend any action or proceeding purporting to affect the security hereof Security or the rights or powers of the Beneficiary or TrusteeLender, and shall pay all costs and expensesexpenses including, including without limitation, cost of evidence of title and reasonable attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee Lender may appear, and in any suit brought by Beneficiary Lender to foreclose this Deed of Trust Security Instrument or to enforce or establish any other rights or remedies of Beneficiary Lender hereunder. B. . If Grantor Borrower fails to perform any of the covenants or agreements contained in this Deed of TrustSecurity Instrument, or if any action or proceeding is commenced which affects BeneficiaryLender’s interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, or relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Lender may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Borrower and without releasing Grantor Borrower from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Lender deems reasonably necessary or appropriate to protect BeneficiaryLender’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereofSecurity, and the payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Lender appears to be prior or superior hereto. C. Grantor . Borrower further agrees to pay all reasonable expenses of Beneficiary Lender (including including, without limitation, fees and disbursements of counsel) incident to the protection of the rights of Beneficiary Lender hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorBorrower, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee Lender pursuant to this Section 1.12 shall be additional indebtedness of Grantor Borrower secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementDefault Rate. All such amounts shall be payable by Grantor upon written Borrower immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Lender to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (KBS Legacy Partners Apartment REIT, Inc.)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Mortgage or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Mortgagee hereunder or under any other security for the obligations secured hereby. If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects Beneficiary’s Mortgagee's interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Mortgagor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor shall further agrees to pay all reasonable expenses of Beneficiary Mortgagee actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary Mortgagee hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 section or section 1.11 shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust Mortgage and each of the Loan Documents Related Agreements as of the date of disbursement and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor Mortgagor immediately upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases, Rents and Contracts, Security Agreement and Fixture Filing (Ag-Chem Equipment Co Inc)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor shall appear in ------------------------------------------ and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary Mortgagee hereunder. B. . If Grantor fails to perform any an Event of the covenants or agreements contained in this Deed of TrustDefault shall exist hereunder, or if any action or proceeding is commenced which affects Beneficiary’s Mortgagee's interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so and upon reasonable contemporaneous notice to Grantor (or but without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Mortgagor and without releasing Grantor Mortgagor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee deems reasonably necessary or appropriate to protect Beneficiary’s Mortgagee's interest, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor further agrees to pay all reasonable expenses of Beneficiary Mortgagee (including without limitation fees and disbursements of counsel) incident to the protection of the rights of Beneficiary Mortgagee hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and and, if not paid within five (5) Business Days after demand, shall bear interest from the date demand is made therefor until paid at the variable interest rate set forth in the Loan AgreementDefault Rate. All such amounts shall be payable by Grantor upon written Mortgagor within five (5) Business Days after demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Hanover Marriott Limited Partnership)

Protection of Security; Costs and Expenses. A. Grantor shall appear ------------------------------------------ in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, Trustee hereunder and shall pay all costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys' fees and expensesdisbursements, in any such action or proceeding in which Beneficiary or Trustee may appearproceeding, and in any suit brought by Beneficiary to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder upon the occurrence and during the continuance of an Event of Default. If Grantor fails to perform any an Event of the covenants or agreements contained in Default occurs under this Deed of TrustMortgage, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of this Mortgage or which adversely affects Beneficiary or Beneficiary’s 's interest in the Mortgaged Property Trust Estate or any part thereof, including including, but not limited to, eminent domain, code enforcementenforcement of, or proceedings of any nature whatsoever under any federal Legal Requirement affecting the Trust Estate or state law, whether now existing or hereafter enacted or amended, relating to involving Grantor's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or then Beneficiary, upon reasonable notice to a decedentGrantor, then Beneficiary or Trustee may, but without obligation to do so upon reasonable notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Beneficiary or Trustee reasonably deems reasonably necessary or appropriate to protect Beneficiary’s interest's interest in the Trust Estate, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property Trust Estate to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. ; provided, however, that the foregoing shall be subject to Grantor's rights to contest under Section 7(c) hereof and Beneficiary shall not pay or discharge any ------------ lien, encumbrance or charge being contested by Grantor in accordance with Section 7(c) hereof. Grantor further agrees to pay all reasonable costs and ------------ expenses of Beneficiary (or Trustee including reasonable attorneys' fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligations, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment and costs of appeal. D. Any amounts disbursed incurred by Beneficiary or Trustee pursuant to in connection with (a) the negotiation, preparation, execution, delivery and performance of this Section 1.12 shall be additional indebtedness Mortgage, the Note and the other Loan Documents, and (b) the performance of Grantor secured by its obligations and exercise of its rights under this Deed of Trust Mortgage, the Note, and each the other Loan Documents. All of the Loan Documents as of the date of disbursement costs, expenses and shall bear interest at the variable interest rate amounts set forth in the Loan Agreement. All such amounts this Section 18 shall be payable by Grantor Grantor, on demand and, together with interest ---------- thereon at the Default Rate, if the same are not paid within five (5) Business Days after demand therefor by Beneficiary (or Trustee), until the date of repayment by Grantor, shall be deemed to be Indebtedness hereunder and shall be a Lien on the Trust Estate prior to any right, title, interest or claim upon written demandthe Trust Estate (subject to the provisions of Section 11 hereof). Nothing ---------- contained in this Section 1.12 18 shall be construed to require Beneficiary or Trustee to incur ---------- any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage Agreement (Kilroy Realty Corp)

Protection of Security; Costs and Expenses. A. Grantor Borrower shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of the Beneficiary Lender or Trustee, Trustee hereunder and shall pay all costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys' fees and expensesdisbursements, in any such action or proceeding in which Beneficiary or Trustee may appearproceeding, and in any suit brought by Beneficiary Lender or Trustee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Lender hereunder upon the occurrence and during the continuance of an Event of Default. If Grantor fails to perform any an Event of the covenants or agreements contained in Default occurs under this Deed of TrustMortgage, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of this Mortgage or which adversely affects Beneficiary’s Lender or Lender's interest in the Mortgaged Property or any part thereof, including including, but not limited to, eminent domain, code enforcementenforcement of, or proceedings of any nature whatsoever under any federal Legal Requirement affecting the Mortgaged Property or state law, whether now existing or hereafter enacted or amended, relating to involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or then Lender, upon reasonable notice to a decedentBorrower, then Beneficiary or Trustee may, but without obligation to do so upon reasonable notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Beneficiary or Trustee Lender reasonably deems reasonably necessary or appropriate to protect Beneficiary’s interestLender's interest in the Mortgaged Property, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of either Beneficiary or Trustee Lender appears to be prior or superior hereto. C. Grantor ; provided, however, that the foregoing shall be subject to Borrower's rights to contest under Section 7(c) hereof and Lender shall not pay or discharge any lien, encumbrance or charge being contested by Borrower in accordance with Section 7(c) hereof. Borrower further agrees to pay all reasonable costs and expenses of Beneficiary (Lender and Trustee including reasonable attorneys' fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligations, whether incurred by judicial or non-judicial proceedings, or Lender and Trustee in connection with any bankruptcy(a) the negotiation, insolvencypreparation, arrangementexecution, reorganization or delivery and performance of this Mortgage, the Note and the other debtor relief proceeding Loan Documents, and (b) the performance of Grantorits obligations and exercise of its rights under this Mortgage, or otherwisethe Note, including costs of collection of judgment and costs of appeal. D. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor secured by this Deed of Trust and each the other Loan Documents. All of the Loan Documents as of the date of disbursement costs, expenses and shall bear interest at the variable interest rate amounts set forth in the Loan Agreement. All such amounts this Section shall be payable by Grantor Borrower, on demand and, together with interest thereon at the Default Rate, if the same are not paid within five (5) Business Days after demand therefor by Lender (or Trustee), until the date of repayment by Borrower, shall be deemed to be Indebtedness hereunder and shall be a Lien on the Mortgaged Property prior to any right, title, interest or claim upon written demandthe Mortgaged Property (subject to the provisions of Section 11(d) hereof). Nothing contained in this Section 1.12 18 shall be construed to require Beneficiary or Trustee Lender to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage, Deed of Trust, Deed to Secure Debt, Security Agreement (Homestead Village Inc)

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Protection of Security; Costs and Expenses. A. Grantor In addition to any other rights or remedies of Mortgagee hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuance of an Event of Default (or prior thereto after notice to Mortgagor, when possible, if Mortgagor is not paying or performing the act itself and Mortgagee determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of this Mortgage or any other collateral securing the indebtedness evidenced by the Note, either before or after acceleration of the indebtedness) Mortgagee may, but shall not be required to, make any payment or perform any act required to be performed by Mortgagor hereunder or under any of the Related Agreements in any form and manner deemed expedient to Mortgagee, including, without limitation, if applicable: (i) paying any Impositions which remain unpaid; (ii) procuring the release, discharge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Mortgagor in accordance with the provisions of this Mortgage or any of the Related Agreements; and (iii) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Mortgagor had obtained the same has not been delivered to Mortgagee as required hereunder. Nothing herein shall be construed to require Mortgagee to advance or expend monies for any purpose mentioned herein, or for any other purpose. B. Mortgagor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Mortgage or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Mortgagee hereunder or under any other security for the obligations secured hereby. If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects Beneficiary’s Mortgagee's interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Mortgagor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor shall further agrees to pay all reasonable expenses of Beneficiary Mortgagee actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary Mortgagee hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. C. Mortgagor shall pay to Mortgagee, immediately upon written notice from Mortgagee: (i) all recordation, transfer, stamp, documentary or other fees or or taxes levied on Mortgagee (exclusive of Mortgagee's income taxes) by reason of the making or recording of the Note, this Mortgage or any Related Agreement; and (ii) all intangible property taxes levied upon any holder of the Note or Mortgagee under this Mortgage or secured party under the Related Agreements. Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 section including, without limitation, reasonable attorneys' fees, whether or not the indebtedness as a result thereof shall exceed the face amount of the Note, shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust Mortgage and each of the Loan Documents Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor upon Mortgagor within fifteen (15) days following written demandrequest. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Form of Mortgage (Great Lakes Reit)

Protection of Security; Costs and Expenses. A. (A) In addition to any other rights or remedies of Beneficiary hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuance of an Event of Default (or prior thereto after notice to Grantor, when possible, if Grantor is not paying or performing the act itself and Beneficiary determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of this Deed of Trust or any other collateral securing the indebtedness evidenced by the Note, either before or after acceleration of the indebtedness) Beneficiary may, but shall not be required to, make any payment or perform any act required to be performed by Grantor hereunder or under any of the Related Agreements in any form and manner deemed expedient to Beneficiary, including, without limitation, if 20 applicable: (1) paying any Impositions which remain unpaid; (2) procuring the release, discharge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Grantor in accordance with the provisions of this Deed of Trust or any of the Related Agreements, and (3) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Grantor had obtained the same has not been delivered to Beneficiary as required hereunder. Nothing herein shall be construed to require Beneficiary to advance or expend monies for any purpose mentioned herein, or for any other purpose. (B) Grantor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Deed of Trust or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees ' and expensesparalegals' fees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder or under any other security for the obligations secured hereby. If Grantor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s 's interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Grantor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. . Grantor shall further agrees to pay all reasonable expenses of Beneficiary actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment and costs of appeal. D. (C) Grantor shall pay to Beneficiary, immediately upon written notice from Beneficiary: (i) all recordation, transfer, stamp, documentary or other fees or taxes levied on Beneficiary (exclusive of Beneficiary's income taxes) by reason of the making or recording of the Note, this Deed of Trust or any Related Agreement, and (ii) all intangible property taxes levied upon any holder of the Note or Beneficiary under this Deed of Trust or secured party under the Related Agreements. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 or Section 1.13, including, without limitation, reasonable attorneys' and paralegals' fees, whether or not the indebtedness as a result thereof shall exceed the face amount of the Note, shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor immediately upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed of Trust (Inland Western Retail Real Estate Trust Inc)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all reasonable costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed Mortgage upon the occurrence of Trust an Event of Default or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Mortgagee hereunder upon the occurrence of an Event of Default. If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects Beneficiary’s Mortgagee's interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then if an Event of Default exists hereunder (or, if no Event of Default exists hereunder, if Mortgagor fails, within thirty (30) days after notice by Mortgagee to Mortgagor [or such shorter notice period as the exigencies of the situation may require], to a decedenttake appropriate action to correct such failure, then Beneficiary or Trustee etc., subject, however, to Mortgagor's contest rights under this Mortgage, to the extent applicable) Mortgagee may, but without obligation to do so upon reasonable and without further notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Mortgagor and without releasing Grantor Mortgagor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee reasonably deems reasonably necessary or appropriate to protect Beneficiary’s Mortgagee's interest, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien lien, other than the Permitted Encumbrances, which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor further agrees to pay all reasonable expenses of Beneficiary Mortgagee (including without limitation attorneys' fees and disbursements of counseldisbursements) incident to the protection of the rights of Beneficiary Mortgagee hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs otherwise in connection with an Event of collection of judgment and costs of appeal. D. Default. Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in Default Rate from the Loan Agreementdate of demand therefor. All such amounts shall be payable by Grantor Mortgagor immediately upon written demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Fixture Filing (Beacon Properties Corp)

Protection of Security; Costs and Expenses. A. Grantor Trustor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Deed of Trust or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder or under any other security for the obligations secured hereby. If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s 's interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Trustor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior 16 20 hereto. C. Grantor . Trustor shall further agrees to pay all reasonable expenses of Beneficiary actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this section or Section 1.12 1.11 shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor Trustor immediately upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed of Trust (Royal Bodycare Inc/Nv)

Protection of Security; Costs and Expenses. A. Grantor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeBeneficiary, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneysAttorneysfees and expensesFees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor fails to perform any of the covenants or agreements contained in this Deed of Trust within any applicable notice and cure periods provided for in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then after compliance with the applicable notice and cure provisions provided for in this Deed of Trust, Beneficiary or Trustee may, but without obligation to do so upon reasonable and without further notice to or demand upon Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including including, but not limited to, disbursement of reasonable attorneysAttorneysfeesFees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. . Grantor further agrees to pay all reasonable expenses of Beneficiary and Trustee (including fees without limitation Attorney’s Fees and disbursements of counseldisbursements) (i) incident to the protection of the rights of Beneficiary hereunder, or (ii) incident to the enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs or (iii) in connection with any title insurance coverage ordered in connection with any foreclosure proceedings hereunder. Grantor also agrees to pay all taxes (except federal and state income taxes) and other governmental charges or impositions imposed by any governmental authority on Beneficiary by reason of collection of judgment and costs of appeal. D. their interest in the Loan Documents. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 44 shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementDefault Rate. All such amounts shall be payable by Grantor upon written immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Highland Hospitality Corp)

Protection of Security; Costs and Expenses. A. Grantor BORROWER shall hire competent and responsible property managers which shall be reasonably acceptable to LENDER. BORROWER and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Security Deed or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or TrusteeLENDER, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee LENDER may appear, and in any suit brought by Beneficiary LENDER to foreclose this Security Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. LENDER hereunder or under any other security for the obligations secured hereby. If Grantor BORROWER fails to perform any of the covenants or agreements contained in this Deed of TrustSecurity Deed, or if any action or proceeding is commenced which affects Beneficiary’s LENDER's interest in the Mortgaged Subject Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee LENDER may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon BORROWER, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee XXXXXX appears to be prior or superior hereto. C. Grantor ; BORROWER further agrees to pay all reasonable expenses of Beneficiary XXXXXX actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary LENDER hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorBORROWER, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee LENDER pursuant to this Section 1.12 shall be additional indebtedness of Grantor BORROWER secured by this Security Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement and shall bear interest at the variable interest rate Contract Rate for the first five (5) business days after demand for payment and thereafter at the Default Rate set forth in the Loan AgreementNote, until paid. All such amounts shall be payable by Grantor BORROWER immediately upon written demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee LENDER to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed to Secure Debt (Kranzco Realty Trust)

Protection of Security; Costs and Expenses. A. Grantor Trustor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Deed of Trust or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder or under any other security for the obligations secured hereby- If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property Properly or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Trustor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor shall further agrees to pay all reasonable expenses of Beneficiary actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this section or Section 1.12 1.11 shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor Trustor immediately upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed of Trust (RBC Life Sciences, Inc.)

Protection of Security; Costs and Expenses. A. Grantor (A) In addition to any other rights or remedies of Beneficiary hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuance of an Event of Default (or prior thereto after notice to Trustor, when possible, if Trustor is not paying or performing the act itself and Beneficiary determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of this Deed of Trust or any other collateral securing the indebtedness evidenced by the Note, either before or after acceleration of the indebtedness) Beneficiary may, but shall not be required to, make any payment or perform any act required to be performed by Trustor hereunder or under any of the Related Agreements in any form and manner deemed expedient to Beneficiary, including, without limitation, if applicable: (i) paying any Impositions which remain unpaid; (ii) procuring the release, discharge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Trustor in accordance with the provisions of this Deed of Trust or any of the other Related Agreements, and (iii) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Trustor had obtained the same has not been delivered to Beneficiary as required hereunder. Nothing herein shall be construed to require Beneficiary to advance or expend monies for any purpose mentioned herein, or for any other purpose. (B) Trustor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Deed of Trust or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder or under any other security for the obligations secured hereby. If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Trustor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor shall further agrees to pay all reasonable expenses of Beneficiary actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 or Section 1.13, including, without limitation, reasonable attorneys’ fees, whether or not the indebtedness as a result thereof shall exceed the face amount of the Note, shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor Trustor immediately upon written demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action. (C) Trustor shall pay to Beneficiary, immediately upon written notice from Beneficiary: (i) all recordation, transfer, stamp, documentary or other fees or taxes levied on Beneficiary (exclusive of Beneficiary’s income taxes) by reason of the making or recording of the Note, this Deed of Trust or any Related Agreement, and (ii) all intangible property taxes levied upon any holder of the Note or Beneficiary under this Deed of Trust or secured party under the Related Agreements.

Appears in 1 contract

Samples: Deed of Trust (KBS Strategic Opportunity REIT, Inc.)

Protection of Security; Costs and Expenses. A. Grantor The Mortgagor shall ------------------------------------------ appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, the Trustees hereunder and shall pay all reasonable costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys' fees and expensesdisbursements, in any such action or proceeding in which the Beneficiary or Trustee may appear, and in any suit brought by the Beneficiary to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of the Beneficiary hereunder. B. . If Grantor fails to perform any an Event of the covenants or agreements contained in Default occurs and is continuing under this Deed of TrustMortgage, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of this Mortgage or which adversely affects the Beneficiary’s 's interest in the Mortgaged Trust Estate, or Property or any part thereof, including including, but not limited to, eminent domain, code enforcementenforcement of, or proceedings of any nature whatsoever under any federal Legal Requirement affecting the Trust Estate or state law, whether now existing or hereafter enacted or amended, relating to involving the Mortgagor's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or then the Beneficiary, upon reasonable notice to a decedentthe Mortgagor, then Beneficiary or Trustee may, but without obligation to do so upon reasonable notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor the Mortgagor from any obligation hereunder, may make such appearances, disburse such sums and take such action as the Beneficiary or Trustee deems reasonably necessary or appropriate to protect the Beneficiary’s interest's interest in the Trust Estate, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged any Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either the Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection . All of the rights of Beneficiary hereundercosts, or to enforcement or collection of payment of the Obligations, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment expenses and costs of appeal. D. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan Agreement. All such amounts this Section 17 shall be payable by Grantor upon written the Mortgagor on demand, together with interest thereon at the rate then in effect with respect to the Note (except during the continuance of an Event of Default in which case interest shall accrue at the Default Rate), from the date of notice to Mortgagor of any such payment by the Beneficiary (or the Trustees) until the date of repayment by the Mortgagor, shall be deemed to be Indebtedness hereunder and shall be secured hereby. Nothing contained in this Section 1.12 17 shall be construed to require the Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Indenture of Mortgage (Kilroy Realty Corp)

Protection of Security; Costs and Expenses. A. Grantor Trustor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeTrustee hereunder or under the Guaranty, and, subject to the terms hereof and of the Guaranty, shall pay all costs and expenses, including cost costs of evidence of title and reasonable attorneys' fees and expenses, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which that affects Beneficiary’s 's interest in the Mortgaged Property or any part thereof, including eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Trustor and without releasing Grantor Trustor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s 's interest, including disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which that in the reasonable judgment of either Beneficiary or Trustee appears to be is prior or superior hereto. C. Grantor Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Secured Obligations, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 1.11 shall be additional indebtedness of Grantor secured by this Deed of Trust and each constitute a part of the Loan Documents Secured Obligations as of the date of disbursement and shall bear interest at the variable interest rate set forth default rate, if any, applicable to guaranteed indebtedness identified in the Loan AgreementGuaranty. All such amounts shall be payable by Grantor Trustor promptly upon written demanddemand therefor. Nothing contained in this Section 1.12 1.11 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Loan Agreement and Forbearance Agreement (Diversified Corporate Resources Inc)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneysAttorneysfees and expensesFees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary Mortgagee hereunder. B. . If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage within any applicable notice and cure periods provided for in this Mortgage, or if any action or proceeding is commenced which affects BeneficiaryMortgagee’s interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee after compliance with the applicable notice and cure provisions provided for in this Mortgage, Mortgagee may, but without obligation to do so upon reasonable and without further notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Mortgagor and without releasing Grantor Mortgagor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee deems reasonably necessary or appropriate to protect BeneficiaryMortgagee’s interest, including including, but not limited to, disbursement of reasonable attorneysAttorneysfeesFees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor further agrees to pay all reasonable expenses of Beneficiary Mortgagee (including fees without limitation Attorney’s Fees and disbursements of counseldisbursements) (i) incident to the protection of the rights of Beneficiary Mortgagee hereunder, or (ii) incident to the enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs or (iii) in connection with any title insurance coverage ordered in connection with any foreclosure proceedings hereunder. Mortgagor also agrees to pay all taxes (except federal and state income taxes) and other governmental charges or impositions imposed by any governmental authority on Mortgagee by reason of collection of judgment and costs of appeal. D. their interest in the Loan Documents. Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 45 shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementDefault Rate. All such amounts shall be payable by Grantor upon written Mortgagor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Highland Hospitality Corp)

Protection of Security; Costs and Expenses. A. Grantor shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, Trustee hereunder and shall pay all costs and expenses, including including, without limitation, cost of evidence of title and reasonable attorneys' fees and expensesdisbursements, in any such action or proceeding in which Beneficiary or Trustee may appearproceeding, and in any suit brought by Beneficiary to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder upon the occurrence and during the continuance of an Event of Default. If Grantor fails to perform any an Event of the covenants or agreements contained in Default occurs under this Deed of TrustMortgage, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the Lien or priority of this Mortgage or which adversely affects Beneficiary or Beneficiary’s 's interest in the Mortgaged Property Trust Estate or any part thereof, including including, but not limited to, eminent domain, code enforcementenforcement of, or proceedings of any nature whatsoever under any federal Legal Requirement affecting the Trust Estate or state law, whether now existing or hereafter enacted or amended, relating to involving Grantor's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or then Beneficiary, upon reasonable notice to a decedentGrantor, then Beneficiary or Trustee may, but without obligation to do so upon reasonable notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Beneficiary or Trustee reasonably deems reasonably necessary or appropriate to protect Beneficiary’s interest's interest in the Trust Estate, including including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property Trust Estate to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. ; provided, however, that the foregoing shall be subject to Grantor's rights to contest under Section 7(c) hereof and Beneficiary shall not pay or discharge any lien, encumbrance or charge being contested by Grantor in accordance with Section 7(c) hereof. Grantor further agrees to pay all reasonable costs and expenses of Beneficiary (or Trustee including reasonable attorneys' fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligations, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs of collection of judgment and costs of appeal. D. Any amounts disbursed incurred by Beneficiary or Trustee pursuant to in connection with (a) the negotiation, preparation, execution, delivery and performance of this Section 1.12 shall be additional indebtedness Mortgage, the Note and the other Loan Documents, and (b) the performance of Grantor secured by its obligations and exercise of its rights under this Deed of Trust Mortgage, the Note, and each the other Loan Documents. All of the Loan Documents as of the date of disbursement costs, expenses and shall bear interest at the variable interest rate amounts set forth in the Loan Agreement. All such amounts this Section 18 shall be payable by Grantor Grantor, on demand and, together with interest thereon at the Default Rate, if the same are not paid within five (5) Business Days after demand therefor by Beneficiary (or Trustee), until the date of repayment by Grantor, shall be deemed to be Indebtedness hereunder and shall be a Lien on the Trust Estate prior to any right, title, interest or claim upon written demandthe Trust Estate (subject to the provisions of Section 11(d) hereof). Nothing contained in this Section 1.12 18 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Mortgage Agreement (Mark Centers Trust)

Protection of Security; Costs and Expenses. A. Grantor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneysAttorneysfees and expensesFees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor fails to perform any of the covenants or agreements contained in this Deed of Trust within any applicable notice and cure periods provided for in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s or Trustee’s interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then after compliance with the applicable notice and cure provisions provided for in this Deed of Trust, Beneficiary or Trustee may, but without obligation to do so upon reasonable and without further notice to or demand upon Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s or Trustee’s interest, including including, but not limited to, disbursement of reasonable attorneysAttorneysfeesFees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. . Grantor further agrees to pay all reasonable expenses of Beneficiary and Trustee (including fees without limitation Attorney’s Fees and disbursements of counseldisbursements) (i) incident to the protection of the rights of Beneficiary hereunderand Trustee hereunder and the protection and preservation of the Security, or (ii) incident to the enforcement or collection of payment of the ObligationsIndebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Grantor, or otherwise, including costs or (iii) in connection with any trustee’s sale guaranty or other title insurance coverage ordered in connection with any foreclosure proceedings hereunder. Grantor also agrees to pay all taxes (except federal and state income taxes) and other governmental charges or impositions imposed by any governmental authority on Beneficiary or Trustee by reason of collection of judgment and costs of appeal. D. their interest in the Loan Documents. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 45 shall be additional indebtedness of Grantor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan AgreementDefault Rate. All such amounts shall be payable by Grantor upon written immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Leasehold Deed of Trust and Security Agreement (Highland Hospitality Corp)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expenses, including without limitation cost of evidence of title and reasonable attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary Mortgagee hereunder. B. . If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects BeneficiaryMortgagee’s interest in the Mortgaged Property Security or any part thereof, including including, but not limited to, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) demand upon Mortgagor and without releasing Grantor Mortgagor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee Mortgagee deems reasonably necessary or appropriate to protect BeneficiaryMortgagee’s interest, including including, but not limited to, disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor further agrees to pay all reasonable expenses of Beneficiary Mortgagee incurred upon an Event of Default (including without limitation fees and disbursements of counsel) incident to the protection of the rights of Beneficiary Mortgagee hereunder, or to enforcement or collection of payment of the ObligationsIndebtedness, the STAG IV Indebtedness and/or the STAG V Indebtedness, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust the Loan Documents, the STAG IV Loan Documents and each of the STAG V Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth Default Rate (as defined in the Loan Agreement). All such amounts shall be payable by Grantor upon written Mortgagor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee Mortgagee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Master Loan Agreement (STAG Industrial, Inc.)

Protection of Security; Costs and Expenses. A. Grantor Trustor shall appear in and defend any action or proceeding purporting to affect the security hereof or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expenses, including cost of evidence of title and reasonable attorneys’ fees and expenses, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. . If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable notice to Grantor Trustor (or without notice in a case of emergency, or where the giving of notice is impracticable or where the Tenant or Grantor Trustor has abandoned the Mortgaged Property) and without releasing Grantor Trustor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Obligations, whether by judicial or non-judicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents as of the date of disbursement and shall bear interest at the variable interest rate set forth in the Loan Agreement. All such amounts shall be payable by Grantor Trustor upon written demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (Crimson Wine Group, LTD)

Protection of Security; Costs and Expenses. A. Grantor (A) In addition to any other rights or remedies of Beneficiary hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuation of an Event of Default (or prior thereto after notice to Trustor, when possible, if Trustor is not paying or performing the act itself and Beneficiary determines in its sole good faith judgment that the same is necessary to preserve the Property or the lien of this Deed of Trust or any other collateral securing the indebtedness evidenced by the Notes, either before or after acceleration of the indebtedness) Beneficiary may, but shall not be required to, make any payment or perform any act required to be performed by Trustor hereunder or under any of the Related Agreements in any form and manner deemed expedient to Beneficiary, including, without limitation, if applicable: (i) paying any Impositions which remain unpaid; (ii) procuring the release, discharge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Trustor in accordance with the provisions of this Deed of Trust or any of the other Related Agreements, and (iii) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Trustor had obtained the same has not been delivered to Beneficiary as required hereunder. Nothing herein shall be construed to require Beneficiary to advance or expend monies for any purpose mentioned herein, or for any other purpose. (B) Trustor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Deed of Trust or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or Trustee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expensesfees, in any such action or proceeding in which Beneficiary or Trustee may appear, and in any suit brought by Beneficiary to foreclose this Deed of Trust or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. hereunder or under any other security for the obligations secured hereby. If Grantor Trustor fails to perform any of the covenants or agreements contained in this Deed of Trust, or if any action or proceeding is commenced which affects Beneficiary’s interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Trustor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee appears to be prior or superior hereto. C. Grantor . Trustor shall further agrees to pay all reasonable expenses of Beneficiary actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary hereunder, or to and enforcement or collection of payment of the Obligations, Notes or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorTrustor, or otherwise, including costs of collection of judgment and costs of appeal. D. (C) Trustor shall pay to Beneficiary, immediately upon written notice from Beneficiary: (i) all recordation, transfer, stamp, documentary or other fees or taxes levied on Beneficiary (exclusive of Beneficiary’s income taxes) by reason of the making or recording of the Notes, this Deed of Trust or any Related Agreement, and (ii) all intangible property taxes levied upon any holder of the Notes or Beneficiary under this Deed of Trust or secured party under the Related Agreements. Any amounts disbursed by Beneficiary or Trustee pursuant to this section or Section 1.12 1.13, including, without limitation, reasonable attorneys’ fees, whether or not the indebtedness as a result thereof shall exceed the face amount of the Notes, shall be additional indebtedness of Grantor Trustor secured by this Deed of Trust and each of the Loan Documents Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNotes, from demand until paid. All such amounts shall be payable by Grantor Trustor immediately upon written demand. Nothing contained in this Section 1.12 section shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 1 contract

Samples: Deed of Trust (Amerivest Properties Inc)

Protection of Security; Costs and Expenses. A. Grantor Mortgagor and its property manager, if applicable, shall appear in and defend any action or proceeding purporting to affect the security hereof of this Mortgage or any additional or other security for the obligations secured hereby, or the rights or powers of the Beneficiary or TrusteeMortgagee, and shall pay all costs and expensesexpenses actually incurred, including including, without limitation, cost of evidence of title and reasonable actual attorneys’ fees and expenses' fees, in any such action or proceeding in which Beneficiary or Trustee Mortgagee may appear, and in any suit brought by Beneficiary Mortgagee to foreclose this Deed of Trust Mortgage or to enforce or establish any other rights or remedies of Beneficiary hereunder. B. Mortgagee hereunder or under any other security for the obligations secured hereby. If Grantor Mortgagor fails to perform any of the covenants or agreements contained in this Deed of TrustMortgage, or if any action or proceeding is commenced which affects Beneficiary’s Mortgagee's interest in the Mortgaged Property or any part thereof, including including, eminent domain, code enforcement, or proceedings of any nature whatsoever under any federal or state law, whether now existing or hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Beneficiary or Trustee Mortgagee may, but without obligation to do so upon reasonable and without notice to Grantor (or without notice in a case of emergencydemand upon Mortgagor, perform such covenant or where the giving of notice is impracticable or where the Tenant or Grantor has abandoned the Mortgaged Property) agreement and without releasing Grantor from any obligation hereunder, make such appearances, disburse such sums and take such action as Beneficiary or Trustee deems reasonably necessary or appropriate to protect Beneficiary’s interest, including disbursement of reasonable attorneys’ fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the judgment of either Beneficiary or Trustee Mortgagee appears to be prior or superior hereto. C. Grantor . Mortgagor shall further agrees to pay all reasonable expenses of Beneficiary Mortgagee actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Beneficiary Mortgagee hereunder, or to and enforcement or collection of payment of the Obligations, Note or any Future Advance whether by judicial or non-judicial nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of GrantorMortgagor, or otherwise, including costs of collection of judgment and costs of appeal. D. . Any amounts disbursed by Beneficiary or Trustee Mortgagee pursuant to this Section 1.12 section or section 1.11 shall be additional indebtedness of Grantor Mortgagor secured by this Deed of Trust Mortgage and each of the Loan Documents Related Agreements as of the date of disbursement and shall bear interest at the variable interest rate Default Rate set forth in the Loan AgreementNote, from demand until paid. All such amounts shall be payable by Grantor upon written demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.Mortgagor immediately

Appears in 1 contract

Samples: Mortgage, Assignment of Leases, Rents and Contracts, Security Agreement and Fixture Filing (General Nutrition Companies Inc)

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