Common use of Right to Complete Capital Replacements Clause in Contracts

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Lender’s sole and absolute discretion, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is irrevocably appointed the attorney in fact for Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Lender’s sole and absolute discretionjudgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is irrevocably appointed the attorney in fact for Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Lender’s sole and absolute discretionjudgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is irrevocably appointed the attorney in fact for Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender.and

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with to undertake and/or complete any Capital Replacement in a timely fashion or an Event of Default occurs and continues is otherwise in default under this Loan Agreement for 30 days after Notice written notice of such failure by Lender to Borrower, Lender will shall have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice notice or cure grace period will shall apply in the case of such failure which could, in Lender’s sole and absolute discretion's judgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties Lender or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is hereby irrevocably appointed the attorney in fact for of Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, Replacement including signing Borrower’s 's name to any contracts and documents as may be deemed necessary by Lender. In no event will shall Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretionits sole discretion, advance such funds. Any funds advanced will shall be added to the Indebtednessoutstanding balance of the Loan, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s 's security and advances made by Lender. Borrower waives any and all claims it may have against Lender for materials used, work performed or resultant damage to the Property.

Right to Complete Capital Replacements. If Borrower Xxxxxxxx abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in LenderXxxxxx’s sole and absolute discretion, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of BorrowerXxxxxxxx, and Lender Xxxxxx is irrevocably appointed the attorney in fact for BorrowerXxxxxxxx, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing BorrowerXxxxxxxx’s name to any contracts and documents as may be deemed necessary by LenderXxxxxx. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of LenderXxxxxx’s security and advances made by LenderXxxxxx.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with to undertake and/or complete any Capital Replacement in a timely fashion or an Event of Default occurs and continues is otherwise in default under this Loan Agreement for 30 3 0 days after Notice written notice of such failure by Lender to Borrower, Lender will shall have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice notice or cure grace period will shall apply in the case of such failure which could, in Lender’s sole and absolute discretionjudgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties Lender or impairment of the security given under this Loan Agreement, the Security Instrument Mortgage or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is hereby irrevocably appointed the attorney in fact for of Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, Replacement including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will shall Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretionits sole discretion, advance such funds. Any funds advanced will shall be added to the Indebtednessoutstanding balance of the Loan, secured by the Security Instrument Mortgage and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document Mortgage pertaining to the protection of Lender’s security and advances made by Lender. Borrower waives any and all claims it may have against Lender for materials used, work performed or resultant damage to the Property unless arising due to Lender’s gross negligence or willful misconduct.

Right to Complete Capital Replacements. (i) If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Lender’s sole and absolute discretion, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. . (ii) Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and . Lender is irrevocably appointed the attorney in fact for Borrower, such appointment being coupled with an interest, to enter do all of the following: (A) Enter into such contracts, incur . (B) Incur such obligations, enforce . (C) Enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement). (D) and do Do any and all things necessary or proper to complete any Capital Replacement, including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. . (iii) In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement Agreement, in each case for 30 days after Notice of such failure condition or event by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Lender’s sole and absolute discretion, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is irrevocably appointed the attorney in fact for Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender.

Right to Complete Capital Replacements. (i) If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Continuing Covenant Agreement for 30 days after Notice of such failure by Funding Lender to Borrower, Funding Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Funding Lender’s sole and absolute discretion, absent immediate exercise by Funding Lender of a right or remedy under this Loan Continuing Covenant Agreement, result in harm to Funding Lender, tenants or third parties or impairment of the security given under this Loan Continuing Covenant Agreement, the Security Instrument or any other Loan Financing Document. . (ii) Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and . Funding Lender is irrevocably appointed the attorney in fact for Borrower, such appointment being coupled with an interest, to enter do all of the following: (A) Enter into such contracts, incur . (B) Incur such obligations, enforce . (C) Enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement). (D) and do Do any and all things necessary or proper to complete any Capital Replacement, including signing Borrower’s name to any contracts and documents as may be deemed necessary by Funding Lender. . (iii) In no event will Funding Lender be required to expend its own funds to complete any Capital Replacement, but Funding Lender may, in Funding Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Funding Lender by Borrower in accordance with the provisions of the Project Note, this Loan Continuing Covenant Agreement, the Security Instrument and any other Loan Financing Document pertaining to the protection of Funding Lender’s security and advances made by Funding Lender.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Lender’s sole and absolute discretion, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is irrevocably appointed the attorney in fact for Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the (Park at Kensington) Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender.

Right to Complete Capital Replacements. (i) If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in LenderXxxxxx’s sole and absolute discretion, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. . (ii) Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender Xxxxxxxx. Xxxxxx is irrevocably appointed the attorney in fact for BorrowerXxxxxxxx, such appointment being coupled with an interest, to enter do all of the following: (A) Enter into such contracts, incur . (B) Incur such obligations, enforce . (C) Enforce any contracts or agreements made by or on behalf of Borrower Xxxxxxxx (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement). (D) and do Do any and all things necessary or proper to complete any Capital Replacement, including signing BorrowerXxxxxxxx’s name to any contracts and documents as may be deemed necessary by Lender. Xxxxxx. (iii) In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in LenderXxxxxx’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of LenderXxxxxx’s security and advances made by LenderXxxxxx.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with to undertake and/or complete any Capital Replacement in a timely fashion or an Event of Default occurs and continues is otherwise in default under this Loan Agreement for 30 thirty (30) days after Notice written notice of such failure by Lender to Borrower, Lender will shall have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice notice or cure grace period will shall apply in the case of such failure which could, in Lender’s sole and absolute discretion's judgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties Lender or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is hereby irrevocably appointed the attorney in fact for of Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, Replacement including signing Borrower’s 's name to any contracts and documents as may be deemed necessary by Lender. In no event will shall Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretionits sole discretion, advance such funds. Any funds advanced will shall be added to the Indebtednessoutstanding balance of the Loan, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s 's security and advances made by Lender. Borrower waives any and all claims it may have against Lender for materials used, work performed or resultant damage to the Property.

Right to Complete Capital Replacements. If Borrower Bxxxxxxx abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in LenderLxxxxx’s sole and absolute discretion, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of BorrowerBxxxxxxx, and Lender Lxxxxx is irrevocably appointed the attorney in fact for BorrowerBxxxxxxx, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing BorrowerBxxxxxxx’s name to any contracts and documents as may be deemed necessary by LenderLxxxxx. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of LenderLxxxxx’s security and advances made by LenderLxxxxx.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Agreement for 30 days after Notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Lender’s 's sole and absolute discretionjudgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is irrevocably appointed the attorney in fact for Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing Borrower’s 's name to any contracts and documents as may be deemed necessary by Lender. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s 's Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s 's security and advances made by Lender.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with to undertake and/or complete any Capital Replacement in a timely fashion or an Event of Default occurs and continues is otherwise in default under this Loan Agreement for 30 thirty (30) days after Notice written notice of such failure by Lender to Borrower, Lender will shall have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice notice or cure grace period will shall apply in the case of such failure which could, in Lender’s sole and absolute discretionjudgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties Lender or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is hereby irrevocably appointed the attorney in fact for of Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, Replacement including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will shall Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretionits sole discretion, advance such funds. Any funds so advanced will shall constitute an advance to protect Lender’s security under Section 12 of the Security Instrument, shall be added to the Indebtedness, secured by the Security Instrument Instrument, and shall be added to, and become part of, the principal component of the Indebtedness, payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender. Borrower waives any and all claims it may have against Lender for materials used, work performed or resultant damage to the Property.

Right to Complete Capital Replacements. (i) If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Continuing Covenant Agreement for 30 days after Notice of such failure by Funding Lender to Borrower, Funding Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Funding Lender’s sole and absolute discretion, absent immediate exercise by Funding Lender of a right or remedy under this Loan Continuing Covenant Agreement, result in harm to Funding Lender, tenants or third parties or impairment of the security given under this Loan Continuing Covenant Agreement, the Security Instrument or any other Loan Financing Document. . (ii) Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender Xxxxxxxx. Funding Xxxxxx is irrevocably appointed the attorney in fact for BorrowerXxxxxxxx, such appointment being coupled with an interest, to enter do all of the following: (A) Enter into such contracts, incur . (B) Incur such obligations, enforce . (C) Enforce any contracts or agreements made by or on behalf of Borrower Xxxxxxxx (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement). (D) and do Do any and all things necessary or proper to complete any Capital Replacement, including signing BorrowerXxxxxxxx’s name to any contracts and documents as may be deemed necessary by Funding Lender. . (iii) In no event will Funding Lender be required to expend its own funds to complete any Capital Replacement, but Funding Lender may, in Funding Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Funding Lender by Borrower in accordance with the provisions of the Project Note, this Loan Continuing Covenant Agreement, the Security Instrument and any other Loan Financing Document pertaining to the protection of LenderFunding Xxxxxx’s security and advances made by Funding Lender.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with to undertake and/or complete any Capital Replacement in a timely fashion or an Event of Default occurs and continues is otherwise in default under this Loan Agreement for 30 days after Notice written notice of such failure by Lender to Borrower, Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice notice or cure grace period will apply in the case of such failure which could, in Lender’s sole and absolute discretionjudgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties Lender or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is hereby irrevocably appointed the attorney in fact for of Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement settlement, or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) ), and do any and all things necessary or proper to complete any Capital Replacement, Replacement including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretionits sole discretion, advance such funds. Any funds advanced will be added to the Indebtednessoutstanding balance of the Loan, secured by the Security Instrument Instrument, and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender. Borrower waives any and all claims it may have against Lender for materials used, work performed, or resultant damage to the Mortgaged Property.

Right to Complete Capital Replacements. If Borrower Mortgagor abandons or fails to proceed diligently with to undertake and/or complete any Capital Replacement in a timely fashion or an Event of Default occurs and continues is otherwise in default under this Loan Agreement for 30 days after Notice written notice of such failure by Lender to BorrowerMortgagor, Lender will shall have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice notice or cure grace period will shall apply in the case of such failure which could, in Lender’s sole and absolute discretionreasonable judgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties Lender or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of BorrowerMortgagor, and Lender is hereby irrevocably appointed the attorney in fact for Borrowerof Mortgagor, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower Mortgagor (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, Replacement including signing BorrowerMortgagor’s name to any contracts and documents as may be deemed necessary by Lender. In no event will shall Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretionits sole discretion, advance such funds. Any funds advanced will shall be added to the Indebtednessoutstanding balance of the Loan, secured by the Security Instrument and payable to Lender by Borrower Mortgagor in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender. Mortgagor waives any and all claims it may have against Lender for materials used, work performed or resultant damage to the Property except as arising from the gross negligence or willful misconduct of Lender.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with to undertake and/or complete any Capital Replacement in a timely fashion or an Event of Default occurs and continues is otherwise in default under this Loan Agreement for 30 days after Notice written notice of such failure by Lender to Borrower, Lender will shall have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice notice or cure grace period will shall apply in the case of such failure which could, in Lender’s sole and absolute discretionjudgment, absent immediate exercise by Lender of a right or remedy under this Loan Agreement, result in harm to Lender, tenants or third parties Lender or impairment of the security given under this Loan Agreement, the Security Instrument or any other Loan Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of Borrower, and Lender is hereby irrevocably appointed the attorney in fact for of Borrower, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, Replacement including signing Borrower’s name to any contracts and documents as may be deemed necessary by Lender. In no event will shall Lender be required to expend its own funds to complete any Capital Replacement, but Lender may, in Lender’s Discretionits sole discretion, advance such funds. Any funds advanced will shall be added to the Indebtednessoutstanding balance of the Loan, secured by the Security Instrument and payable to Lender by Borrower in accordance with the provisions of the Note, this Loan Agreement, the Security Instrument and any other Loan Document pertaining to the protection of Lender’s security and advances made by Lender. Borrower waives any and all claims it may have against Lender for materials used, work performed or resultant damage to the Property.

Right to Complete Capital Replacements. If Borrower abandons or fails to proceed diligently with any Capital Replacement in a timely fashion or an Event of Default occurs and continues under this Loan Continuing Covenant Agreement for 30 days after Notice of such failure by Funding Lender to Borrower, Funding Lender will have the right (but not the obligation) to enter upon the Mortgaged Property and take over and cause the completion of such Capital Replacement. However, no such Notice or cure period will apply in the case of such failure which could, in Funding Lender’s sole and absolute discretion, absent immediate exercise by Funding Lender of a right or remedy under this Loan Continuing Covenant Agreement, result in harm to Funding Lender, tenants or third parties or impairment of the security given under this Loan Continuing Covenant Agreement, the Security Instrument or any other Loan Financing Document. Any contracts entered into or indebtedness incurred upon the exercise of such right may be in the name of BorrowerXxxxxxxx, and Funding Lender is irrevocably appointed the attorney in fact for BorrowerXxxxxxxx, such appointment being coupled with an interest, to enter into such contracts, incur such obligations, enforce any contracts or agreements made by or on behalf of Borrower (including the prosecution and defense of all actions and proceedings in connection with the Capital Replacement and the payment, settlement or compromise of all bills and claims for materials and work performed in connection with the Capital Replacement) and do any and all things necessary or proper to complete any Capital Replacement, including signing BorrowerXxxxxxxx’s name to any contracts and documents as may be deemed necessary by Funding Lender. In no event will Funding Lender be required to expend its own funds to complete any Capital Replacement, but Funding Lender may, in Funding Lender’s Discretion, advance such funds. Any funds advanced will be added to the Indebtedness, secured by the Security Instrument and payable to Funding Lender by Borrower in accordance with the provisions of the Project Note, this Loan Continuing Covenant Agreement, the Security Instrument and any other Loan Financing Document pertaining to the protection of LenderFunding Xxxxxx’s security and advances made by Funding Lender.