Common use of Repair, Waste, Alterations, etc Clause in Contracts

Repair, Waste, Alterations, etc. Borrower shall keep every part of the Property in good operating order, repair, and condition and shall not commit or permit any waste thereof. Borrower shall make promptly all repairs, renewals, and replacements necessary to such end. Borrower shall discharge all claims from labor performed and material furnished thereof, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Property. Borrower shall have the right to contest in good faith the validity of any such mechanic's or materialman's lien, provided Borrower shall first furnish Lender a bond or other security satisfactory to Lender in such amount as Lender shall reasonably require, but not more than one hundred fifty percent (150%) of the amount of the Page 45 of 200 claim, and provided further that Borrower shall thereafter diligently proceed to cause such lien to be removed and discharged. If Borrower shall fail to discharge any such lien, then, in addition to any other right or remedy of Lender, Lender may, but shall not be obligated to, discharge the lien, either by paying the amount claimed to be due, or by procuring the discharge of such lien by disposition in court a bond for the amount claimed, or otherwise giving security for such claim, or by taking such action as may be prescribed by law. Borrower shall guard every part of the Property from removal, destruction, and damage, and shall not do or suffer to be done any act whereby the value of any part of the Property may be lessened. Borrower or any tenant or other person shall not materially alter the Property without the prior written consent of Lender, which consent may be withheld for any reason whatsoever as Lender determines in its sole and absolute discretion.

Repair, Waste, Alterations, etc. Borrower Grantor shall keep every part of the Property in good operating order, repair, and condition and shall not commit or permit any waste thereof. Borrower Grantor shall make promptly all repairs, renewals, and replacements necessary to such end. Borrower Grantor shall discharge all claims from for labor performed and material furnished thereoftherefor, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Property. Borrower Grantor shall have the right to contest in good faith the validity of any such mechanic's ’s or materialman's ’s lien, provided Borrower Grantor shall first furnish Lender Beneficiary a bond or other security satisfactory to Lender Beneficiary in such amount as Lender Beneficiary shall reasonably require, but not more than one hundred fifty percent ONE HUNDRED TWENTY PERCENT (150120.00%) of the amount of the Page 45 of 200 claim, and provided further that Borrower Grantor shall thereafter diligently proceed to cause such lien to be removed and discharged. If Borrower Grantor shall fail to discharge any such lien, then, in addition to any other right or remedy of LenderBeneficiary, Lender Beneficiary may, but shall not be obligated to, discharge the lien, either by paying the amount claimed to be due, or by procuring the discharge of such lien by disposition depositing in court a bond for the amount claimed, or otherwise giving security for such claim, or by taking such action as may be prescribed by law. Borrower Grantor shall guard every part of the Property from removal, destruction, and damage, and shall not do or suffer to be done any act whereby the value of any part of the Property property may be lessened. Borrower Grantor or any tenant or other person shall not materially alter the Property without the prior written consent of Lender, which consent may be withheld for any reason whatsoever as Lender determines in its sole and absolute discretionBeneficiary.

Repair, Waste, Alterations, etc. Borrower Grantor shall keep every part of the Property in good operating order, repair, and condition and shall not commit or permit any waste thereof. Borrower Grantor shall make promptly all repairs, renewals, and replacements necessary to such end. Borrower Grantor shall discharge all claims from for labor performed and material furnished thereoftherefor, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Property. Borrower Grantor shall have the right to contest in good faith the validity of any such mechanic's or materialman's lien, provided Borrower Grantor shall first furnish Lender Beneficiary a bond or other security satisfactory to Lender Beneficiary in such amount as Lender Beneficiary shall reasonably require, but not more than one hundred fifty percent (150%) of the amount of the Page 45 of 200 claim, and provided further that Borrower Grantor shall thereafter diligently proceed to cause such lien to be removed and discharged. If Borrower Grantor shall fail to discharge any such lien, then, in addition to any other right or remedy of LenderBeneficiary, Lender Beneficiary may, but shall not be obligated to, discharge the lien, either by paying the amount claimed to be due, or by procuring the discharge of such lien by disposition depositing in court a bond for the amount claimed, or otherwise giving security for such claim, or by taking such action as may be prescribed by law. Borrower Grantor shall guard every part of the Property from removal, destruction, and damage, and shall not do or suffer to be done any act whereby the value of any part of the Property may be lessened. Borrower Grantor or any tenant or other person shall not materially alter the Property without the prior written consent of Lender, which consent may be withheld for any reason whatsoever as Lender determines in its sole and absolute discretionBeneficiary.

Repair, Waste, Alterations, etc. Borrower shall keep every part of the Property in good operating order, repair, and condition and shall not commit or permit any waste thereof. Borrower shall make promptly all repairs, renewals, and replacements necessary to such end. Borrower shall discharge all claims from labor performed and material furnished thereof, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Property. Borrower shall have the right to contest in good faith the validity of any such mechanic's or materialman's lien, provided Borrower shall first furnish Lender a bond or other security satisfactory to Lender in such amount as Lender shall reasonably require, but not more than one hundred fifty percent (150%) of the amount of the Page 45 of 200 claim, and provided further that Borrower shall thereafter diligently proceed to cause such lien to be removed and discharged. If Borrower shall fail to discharge any such lien, then, in addition to any other right or remedy of Lender, Lender may, but shall not be obligated to, discharge the lien, either by paying the amount claimed to be due, or by procuring the discharge of such lien by disposition in court a bond for the amount claimed, or otherwise giving security for such claim, or by taking such action as may be prescribed by law. Borrower shall guard every part of the Property from removal, destruction, and damage, and shall not do or suffer to be done any act whereby the value of any part of the Property may be lessened. Borrower or any tenant or other person shall not materially alter the Property without the prior written consent of Lender, which consent may be withheld for any reason whatsoever as Lender determines in its sole and absolute discretion.

Repair, Waste, Alterations, etc. Borrower Grantor shall keep every part of the Mortgaged Property in good operating order, repair, repair and condition (ordinary wear and tear excepted) and shall not commit or permit any waste thereof. Borrower Grantor shall make promptly all repairs, renewals, renewals and replacements necessary to such end, except as provided below. Borrower Grantor shall discharge all claims from for labor performed and material furnished thereoftherefor, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Mortgaged Property. Borrower Grantor shall have the right to contest in good faith the validity of any such mechanic's or materialman's lien, provided Borrower Grantor shall first furnish Lender deposit with Beneficiary a bond or other security satisfactory to Lender Beneficiary in such amount as Lender Beneficiary shall reasonably require, but not more than one hundred fifty percent (150100%) of the amount of the Page 45 of 200 claim, and provided further that Borrower Grantor shall thereafter diligently proceed to cause such lien to be removed and discharged. If Borrower Grantor shall fail to discharge any such lien, then, in addition to any other right or remedy of LenderBeneficiary, Lender Beneficiary may, but shall not be obligated to, discharge the liensame, either by paying the amount claimed to be due, or by procuring the discharge of such lien by disposition depositing in court a bond for the amount claimed, or otherwise giving security for such claim, or by taking such action as may be prescribed by law. Borrower Grantor shall guard every part of the Mortgaged Property from removal, destruction, destruction and damage, and shall not do or suffer to be done any act whereby the value of any part of the Mortgaged Property may be lessened. Borrower or any Other than for capital repairs and replacements and tenant or other person improvements provided for under Leases, Grantor shall not materially alter the Mortgaged Property without the prior written consent of Lender, which consent may be withheld for any reason whatsoever as Lender determines in its sole and absolute discretionBeneficiary.