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

Repair, Waste, Alterations, etc. Grantor shall keep every part of the Mortgaged Property in good operating order, repair and condition (ordinary wear and tear excepted) and shall not commit or permit any waste thereof. Grantor shall make promptly all repairs, renewals and replacements necessary to such end, except as provided below. Grantor shall discharge all claims for labor performed and material furnished therefor, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Mortgaged Property. Grantor shall have the right to contest in good faith the validity of any such mechanic's or materialman's lien, provided Grantor shall first deposit with Beneficiary a bond or other security satisfactory to Beneficiary in such amount as Beneficiary shall reasonably require, but not more than one hundred percent (100%) of the amount of the claim, and provided further that Grantor shall thereafter diligently proceed to cause such lien to be removed and discharged. If Grantor shall fail to discharge any such lien, then, in addition to any other right or remedy of Beneficiary, Beneficiary may, but shall not be obligated to, discharge the same, either by paying the amount claimed to be due, or by procuring the discharge of such lien by 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. Grantor shall guard every part of the Mortgaged 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 Mortgaged Property may be lessened. Other than for capital repairs and replacements and tenant improvements provided for under Leases, Grantor shall not materially alter the Mortgaged Property without the prior written consent of Beneficiary.

Repair, Waste, Alterations, etc. Grantor Borrower 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. Grantor Borrower shall make promptly all repairs, renewals renewals, and replacements necessary to such end, except as provided below. Grantor Borrower shall discharge all claims for from labor performed and material furnished thereforthereof, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Mortgaged Property. Grantor Borrower shall have the right to contest in good faith the validity of any such mechanic's or materialman's lien, provided Grantor Borrower shall first deposit with Beneficiary furnish Lender a bond or other security satisfactory to Beneficiary Lender in such amount as Beneficiary Lender shall reasonably require, but not more than one hundred fifty percent (100150%) of the amount of the claim, and provided further that Grantor Borrower shall thereafter diligently proceed to cause such lien to be removed and discharged. If Grantor Borrower shall fail to discharge any such lien, then, in addition to any other right or remedy of BeneficiaryLender, Beneficiary Lender may, but shall not be obligated to, discharge the samelien, either by paying the amount claimed to be due, or by procuring the discharge of such lien by depositing 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. Grantor Borrower 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. Other than for capital repairs and replacements and Borrower or any tenant improvements provided for under Leases, Grantor or other person shall not materially alter the Mortgaged Property without the prior written consent of BeneficiaryLender, which consent may be withheld for any reason whatsoever as Lender determines in its sole and absolute discretion.

Repair, Waste, Alterations, etc. 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. Grantor shall make promptly all repairs, renewals renewals, and replacements necessary to such end, except as provided below. Grantor shall discharge all claims for labor performed and material furnished therefor, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Mortgaged Property. Grantor shall have the right to contest in good faith the validity of any such mechanic's or materialman's lien, provided Grantor shall first deposit with furnish Beneficiary a bond or other security satisfactory to Beneficiary in such amount as Beneficiary shall reasonably require, but not more than one hundred fifty percent (100150%) of the amount of the claim, and provided further that Grantor shall thereafter diligently proceed to cause such lien to be removed and discharged. If Grantor shall fail to discharge any such lien, then, in addition to any other right or remedy of Beneficiary, Beneficiary may, but shall not be obligated to, discharge the samelien, either by paying the amount claimed to be due, or by procuring the discharge of such lien by 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. 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. Other than for capital repairs and replacements and Grantor or any tenant improvements provided for under Leases, Grantor or other person shall not materially alter the Mortgaged Property without the prior written consent of Beneficiary.

Repair, Waste, Alterations, etc. Grantor (a) Debtor shall keep every part of the Mortgaged Property Improvements and FF&E in good operating order, repair and condition (ordinary wear and tear excepted) and shall not commit or permit any waste thereof, reasonable wear and tear excepted. Grantor Debtor shall make promptly all repairs, renewals and replacements necessary to such end, except as provided below. Grantor Debtor shall discharge all claims for labor performed and material furnished therefor, and shall not suffer any lien of mechanics or materialmen to attach to be perfected by the filing of any lawsuit therefor respecting any part of the Mortgaged Property. Grantor Collateral; provided, however, Debtor shall have the right to contest in good faith the validity of any such mechanic's or materialmanmaterialmen's lien. Debtxx xxxees to pay promptly any such judgment which becomes final establishing such a lien, provided Grantor shall first deposit with Beneficiary unless such judgment is stayed by depositing in court a bond or other security for the amount thereof, and in any event, Debtxx xxxees to satisfy such judgment and lien prior to any execution thereof. If the amount of liens being contested hereunder exceeds in the aggregate $500,000, at the request of Secured Party, Debtor agrees to provide security reasonably satisfactory to Beneficiary Secured Party (including but not limited to, a cash deposit or indemnity bond) in such amount as Beneficiary Secured Party shall reasonably require, but not more than one hundred fifty percent (100150%) of the amount of the claim, and provided further that Grantor shall thereafter diligently proceed to cause such lien to be removed and dischargedbeing contested. If Grantor Debtor shall fail to discharge any such lienlien that has become final by judgment, then, in addition to any other right or remedy of BeneficiarySecured Party, Beneficiary Secured Party may, but shall not be obligated to, upon giving Debtor 15 days prior written notice thereof, discharge the same, either by paying the amount claimed to be due, or by procuring the discharge of such lien by 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. Grantor shall guard every part of the Mortgaged 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 Mortgaged Property may be lessened. Other than for capital repairs and replacements and tenant improvements provided for under Leases, Grantor shall not materially alter the Mortgaged Property without the prior written consent of Beneficiary.

Repair, Waste, Alterations, etc. Grantor Borrower 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. Grantor Borrower shall make promptly all repairs, renewals renewals, and replacements necessary to such end, except as provided below. Grantor Borrower shall discharge all claims for from labor performed and material furnished thereforthereof, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Mortgaged Property. Grantor Borrower shall have the right to contest in good faith the validity of any such mechanic's or materialman's lien, provided Grantor Borrower shall first deposit with Beneficiary furnish Lender a bond or other security satisfactory to Beneficiary Lender in such amount as Beneficiary Lender shall reasonably require, but not more than one hundred fifty percent (100150%) of the amount of the Page 45 of 200 claim, and provided further that Grantor Borrower shall thereafter diligently proceed to cause such lien to be removed and discharged. If Grantor Borrower shall fail to discharge any such lien, then, in addition to any other right or remedy of BeneficiaryLender, Beneficiary Lender may, but shall not be obligated to, discharge the samelien, either by paying the amount claimed to be due, or by procuring the discharge of such lien by depositing 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. Grantor Borrower 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. Other than for capital repairs and replacements and Borrower or any tenant improvements provided for under Leases, Grantor or other person shall not materially alter the Mortgaged Property without the prior written consent of BeneficiaryLender, which consent may be withheld for any reason whatsoever as Lender determines in its sole and absolute discretion.

Repair, Waste, Alterations, etc. 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. Grantor shall make promptly all repairs, renewals renewals, and replacements necessary to such end, except as provided below. Grantor shall discharge all claims for labor performed and material furnished therefor, and shall not suffer any lien of mechanics or materialmen to attach to any part of the Mortgaged Property. Grantor shall have the right to contest in good faith the validity of any such mechanic's ’s or materialman's ’s lien, provided Grantor shall first deposit with furnish Beneficiary a bond or other security satisfactory to Beneficiary in such amount as Beneficiary shall reasonably require, but not more than one hundred percent ONE HUNDRED TWENTY PERCENT (100120.00%) of the amount of the claim, and provided further that Grantor shall thereafter diligently proceed to cause such lien to be removed and discharged. If Grantor shall fail to discharge any such lien, then, in addition to any other right or remedy of Beneficiary, Beneficiary may, but shall not be obligated to, discharge the samelien, either by paying the amount claimed to be due, or by procuring the discharge of such lien by 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. 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 property may be lessened. Other than for capital repairs and replacements and Grantor or any tenant improvements provided for under Leases, Grantor or other person shall not materially alter the Mortgaged Property without the prior written consent of Beneficiary.