Common use of Right to Make Repairs, Improvements Clause in Contracts

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of Beneficiary, whether before or after an Event of Default, Beneficiary may use, operate and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or its value. Grantor covenants to promptly reimburse and pay to Beneficiary at the place where the Note is payable, or at such other place as may be designated by Beneficiary in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Beneficiary in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Beneficiary at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the Indebtedness. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Grantor and, except for Beneficiary’s willful misconduct or gross negligence, Beneficiary shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance; or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of Beneficiary, whether before or after an Event of DefaultBeneficiary may, Beneficiary may but shall not be obligated to, use, operate operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or its value. Grantor Trustor covenants to promptly reimburse and pay to Beneficiary Beneficiary, at the place where the Note is payable, or at such other place as may be designated by Beneficiary in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Beneficiary in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Beneficiary at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the IndebtednessSecured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Grantor and, except for Beneficiary’s willful misconduct or gross negligence, Trustor and Beneficiary shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance; , or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of Beneficiary, whether before or Lender after an Event of Default, Beneficiary Lender may use, operate operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or its value. Grantor Borrower covenants to promptly reimburse and pay to Beneficiary Lender, at the place where the Note is payable, or at such other place as may be designated by Beneficiary Lender in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Beneficiary Lender in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Beneficiary Lender at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the IndebtednessSecured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Grantor and, except for Beneficiary’s willful misconduct or gross negligence, Beneficiary Borrower and Lender shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance; , or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of BeneficiaryLender, whether before or after an Event of Default, Beneficiary Lender may use, operate operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or its value. Grantor Borrower covenants to promptly reimburse and pay to Beneficiary Lender, at the place where the Note is payable, or at such other place as may be designated by Beneficiary Lender in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Beneficiary Lender in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Beneficiary Lender at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the IndebtednessSecured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Grantor and, except for Beneficiary’s willful misconduct or gross negligence, Beneficiary Borrower and Lender shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance; , or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.