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

Protection of Security; Costs and Expenses. 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 Lender hereunder and shall pay all costs and expenses actually incurred by Lender, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements, in any such action or proceeding, and in any suit brought by Lender to foreclose this Security Instrument or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of Default. If an Event of Default occurs and is continuing under this Security Instrument or the Note, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereof, including, without limitation, eminent domain, enforcement of, or proceedings of any nature whatsoever under any laws or other legal requirement affecting the Property or involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then Lender, upon reasonable notice to Borrower, may, but without obligation to do so and without releasing Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the 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 Lender appears to be prior or superior hereto.

Protection of Security; Costs and Expenses. Borrower 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 of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder the Beneficiary or Trustee, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursementsfees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Trustor fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or LenderBeneficiary's interest in the Mortgaged Property or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lender, upon reasonable notice to Borrower, Beneficiary or Trustee may, but without obligation to do so and without notice to or demand upon Trustor and without releasing Borrower 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 reasonable sums and take such action as Lender reasonably Beneficiary or Trustee deems necessary or appropriate to protect LenderBeneficiary's interest in the Propertyinterest, 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 Lender either Beneficiary or Trustee appears to be prior or superior hereto. 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 Note or any Future Advances, whether by judicial or nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Trustor, or otherwise. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Trustor secured by this Deed of Trust and each of the Related Agreements as of the date of disbursement and shall bear interest at the rate set forth in the Note. All such amounts shall be payable by 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.

Protection of Security; Costs and Expenses. (A) In addition to any other rights or remedies of Lender 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 Borrower, when possible, if Borrower is not paying or performing the act itself and Lender determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of this Security Deed or any other collateral securing the indebtedness evidenced by the Note, either before or after acceleration of the indebtedness) Lender may, but shall not be required to, make any payment or perform any act required to be performed by Borrower hereunder or under any of the Related Agreements in any form and manner deemed expedient to Lender, 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 Borrower in accordance with the provisions of this Security Deed 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 Borrower had obtained the same has not been delivered to Lender as required hereunder. Nothing herein shall be construed to require Lender to advance or expend monies for any purpose mentioned herein, or for any other purpose. (B) Borrower and its property manager, if applicable, shall appear in and defend any action or proceeding of which it has notice 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 Lender hereunder the Lender, and shall pay all costs and expenses actually incurred by Lenderincurred, including, without limitation, cost of evidence of title and reasonable actual attorneys' fees and disbursementsparalegals' fees, in any such action or proceedingproceeding in which Lender may appear, and in any suit brought by Lender to foreclose this Security Instrument Deed or to enforce or establish any other rights or remedies of Lender hereunder upon or under any other security for the occurrence and during the continuance of an Event of Defaultobligations secured hereby. If an Event Borrower fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereof, including, without limitation, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lender, upon reasonable notice to Borrower, Lender may, but without obligation to do so and without releasing Borrower from any obligation hereundernotice to or demand upon Borrower, make perform such appearances, disburse such reasonable sums covenant or agreement and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the 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 Lender appears to be prior or superior hereto. Borrower shall further pay all expenses of Lender actually incurred (including reasonable and actual fees and disbursements of counsel) incident to the protection or enforcement of the rights of Lender hereunder, and enforcement or collection of payment of the Note or any Future Advance whether by judicial or nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Borrower, or otherwise. (C) Borrower shall pay to Lender, immediately upon written notice from Lender: (i) all recordation, transfer, stamp, documentary or other fees or taxes levied on Lender (exclusive of Lender's income taxes) by reason of the making or recording of the Note, this Security Deed or any Related Agreement, and (ii) all intangible property taxes levied upon any holder of the Note or Lender under this Security Deed or secured party under the Related Agreements. Any amounts disbursed by Lender pursuant to this Section 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 Borrower secured by this Security Deed and each of the Related Agreements as of the date of disbursement shall become immediately due and payable on demand and shall bear interest at the Default Rate set forth in the Note, from demand until paid. All such amounts shall be payable by Borrower immediately upon demand. Nothing contained in this section shall be construed to require Lender to incur any expense, make any appearance, or take any other action.

Protection of Security; Costs and Expenses. Borrower 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 Lender hereunder the Beneficiary or Trustee, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, including without limitation, limitation cost of evidence of title and reasonable attorneys' fees and disbursementsfees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Grantor fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend affects Beneficiary's or uphold the lien or priority of this Security Instrument or which adversely affects Lender or LenderTrustee's interest in the Property Security or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lender, upon reasonable notice to Borrower, Beneficiary or Trustee may, but without obligation to do so and without notice to or demand upon Grantor and without releasing Borrower Grantor from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably Beneficiary or Trustee deems necessary or appropriate to protect LenderBeneficiary's interest in the Propertyor Trustee's interest, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the 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 reasonable judgment of Lender appears to be prior or superior hereto.any

Protection of Security; Costs and Expenses. 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 Lender hereunder and shall pay all reasonable out of pocket costs and expenses actually incurred by Lender, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements, in any such action or proceeding, and in any suit brought by Lender to foreclose this Security Instrument or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of Default. If an Event of Default occurs and is continuing under this Security Instrument or the NoteLoan Agreement, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien Lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereof, including, without limitation, eminent domain, enforcement of, or proceedings of any nature whatsoever under any laws or other legal requirement Legal Requirement affecting the Property or involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then Lender, upon reasonable notice to Borrower, may, but without obligation to do so and without releasing Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the 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 Lender appears to be prior or superior hereto; provided, however, that the foregoing shall be subject to Borrower's rights to contest under Section 7.3 of the Loan Agreement and, provided no Event of Default shall have occurred and is then continuing, Lender shall not pay or discharge any lien, encumbrance or charge being contested by Borrower in accordance with Section 7.3 of the Loan Agreement.

Protection of Security; Costs and Expenses. 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 Lender hereunder and shall pay all costs and expenses actually incurred by Lender, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements, in any such action or proceeding, and in any suit brought by Lender to foreclose this Security Instrument or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of Default. If an Event of Default occurs and is continuing under this Security Instrument or the NoteLoan Agreement, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien Lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereof, including, without limitation, eminent domain, enforcement of, or proceedings of any nature whatsoever under any laws or other legal requirement Legal Requirement affecting the Property or involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then Lender, upon reasonable notice to Borrower, may, but without obligation to do so and without releasing Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the 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 Lender appears to be prior or superior hereto; PROVIDED, HOWEVER, that the foregoing shall be subject to Borrower's rights to contest under SECTION 7.3 of the Loan Agreement of and, provided no Event of Default shall have occurred and is then continuing, Lender shall not pay or discharge any lien, encumbrance or charge being contested by Borrower in accordance with SECTION 7.3 of the Loan Agreement.