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 Lender or a receiver, whether before or after an Event of Default, Lender or the receiver and receiver's agents shall be empowered: (a) To take possession of the Property, Leases, Rents and any business conducted by Trustor or any other person thereon and any business assets used in connection therewith and any Property in which Lender has a security interest granted by Trustor and, if the receiver deems it appropriate, to operate the same; (b) To exclude Trustor and Trustor's agents, servants, and employees from the Real Property; (c) With or without taking possession of the Real Property, to collect the Rents, including those past due and unpaid and security deposits; (d) To rent, lease or let all or any portion of the Property to any party or parties at such rental and upon such terms as the Lender shall, and to pay any leasing or rental commissions associated therewith in its discretion, determine; (e) To continue the development, marketing and sale of the Property or any portion thereof; (f) To complete any construction or development which may be in progress; (g) To do such maintenance and make such repairs and alterations as the receiver deems necessary; (h) To use all stores of materials, supplies and maintenance equipment on the Real Property and to replace and replenish such items at the expense of the receivership estate; (i) To pay the operating expenses of the Property, including costs of management and leasing or marketing thereof (which shall include lease commissions, sale commissions), payments under contracts and agreements for development and construction; (j) To pay all taxes and assessments against the Property and any property which is collateral for the Secured Obligations, all premiums for insurance thereon, all utility and other operating expenses, and all sums due under any prior or subsequent encumbrance; (k) To borrow from the Lender such funds as may be reasonably necessary to the effective exercise of the receiver's powers, on such terms as may be agreed upon by the receiver and the Lender, but not in excess of the Default Rate under the Note; and (l) Generally do anything which Trustor could legally do if Trustor were in possession of the Property. (m) All expenses incurred by the receiver or the receiver's agent shall constitute part of the Secured Obligations. Any Rents collected by the receiver shall be applied first to the expenses of the receivership (including attorneys' fees incurred by the receiver and by Lender), to expenses of the Property, and to preserve, protect, maintain and operate the Property and any other collateral which is security for the Secured Obligations, and the balance shall be applied toward the Secured Obligations or any deficiency which may result from any foreclosure sale, and then in such other manner as the court may direct. Unless sooner terminated with the express consent of the Lender, any such receivership will continue until all amounts remaining due under the Note have been discharged in full, or until title to the Property has passed after foreclosure sale and all applicable periods of redemption have expired, and in either case, the court has discharged the receiver. Trustor covenants to promptly reimburse and pay to Lender or such receiver, at the place where the Note is payable, or at such other place as may be designated in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Lender or such receiver in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Lender or such receiver at the Default Rate, as set forth in the Note, and all such expenses, costs, taxes, interest, and other charges shall be part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Trustor and, except for Lender's or such receiver's willful misconduct or gross negligence, Lender or such receiver 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, or to complete development.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of Lender Mortgagee or a receiver, whether before or after an Event of Default, Lender Mortgagee or the receiver and receiver's agents shall be empowered: (a) To take possession of the Property, Leases, Rents Income and any business conducted by Trustor Mortgagor or any other person thereon and any business assets used in connection therewith and any Property in which Lender Mortgagee has a security interest granted by Trustor Mortgagor and, if the receiver deems it appropriate, to operate the same; (b) To exclude Trustor Mortgagor and TrustorMortgagor's agents, servants, and employees from the Real Property; (c) With or without taking possession of the Real Property, to collect the RentsIncome, including those past due and unpaid and security deposits; (d) To rent, lease or let all or any portion of the Property to any party or parties at such rental and upon such terms as the Lender Mortgagee shall, and to pay any leasing or rental commissions associated therewith in its discretion, determine; (e) To continue the development, marketing and sale of the Property or any portion thereof; (f) To complete any construction or development which may be in progress; (g) To do such maintenance and make such repairs and alterations as the receiver deems necessary; (h) To use all stores of materials, supplies and maintenance equipment on the Real Property and to replace and replenish such items at the expense of the receivership estate; (i) To pay the operating expenses of the Property, including costs of management and leasing or marketing thereof (which shall include lease commissions, sale commissions), payments under contracts and agreements for development and construction; (j) To pay all taxes and assessments against the Property and any property which is collateral for the Secured Obligations, all premiums for insurance thereon, all utility and other operating expenses, and all sums due under any prior or subsequent encumbrance; (k) To borrow from the Lender Mortgagee such funds as may be reasonably necessary to the effective exercise of the receiver's powers, on such terms as may be agreed upon by the receiver and the Lender, but not in excess of the Default Rate under the NoteMortgagee; and (l) Generally do anything which Trustor Mortgagor could legally do if Trustor Mortgagor were in possession of the Property. (m) . All expenses incurred by the receiver or the receiver's agent shall constitute part of the Secured Obligations. Any Rents revenues collected by the receiver shall be applied first to the expenses of the receivership (including attorneys' fees incurred by the receiver and by LenderMortgagee), to expenses of the Property, and to preserve, protect, maintain and operate the Property and any other collateral which is security for the Secured Obligations, and the balance shall be applied toward the Secured Obligations or any deficiency which may result from any foreclosure sale, and then in such other manner as the court may direct. Unless sooner terminated with the express consent of the LenderMortgagee, any such receivership will continue until all amounts remaining due under the Note have been discharged in full, or until title to the Property has passed after foreclosure sale and all applicable periods of redemption have expired, and in either case, the court has discharged the receiver. Trustor Mortgagor covenants to promptly reimburse and pay to Lender Mortgagee or such receiver, at the place where the Note is payable, or at such other place as may be designated in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Lender Mortgagee or such receiver in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Lender Mortgagee or such receiver at the Default Ratethen applicable interest rate, as set forth in the Note, and all such expenses, costs, taxes, interest, and other charges shall be part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Trustor Mortgagor and, except for LenderMortgagee's or such receiver's willful misconduct or gross negligence, Lender Mortgagee or such receiver 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, or to complete development.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of Lender or a receiver, whether before or after an Event of Default, Lender or the receiver and receiver's agents shall be empowered: (a) To take possession of the Property, Leases, Rents and any business conducted by Trustor Borrower or any other person thereon and any business assets used in connection therewith and any Property in which Lender has a security interest granted by Trustor Borrower and, if the receiver deems it appropriate, to operate the same; (b) To exclude Trustor Borrower and TrustorBorrower's agents, servants, and employees from the Real Property; (c) With or without taking possession of the Real Property, to collect the Rents, including those past due and unpaid and security deposits; (d) To rent, lease or let all or any portion of the Property to any party or parties at such rental and upon such terms as the Lender shall, and to pay any leasing or rental commissions associated therewith in its discretion, determine; (e) To continue the development, marketing and sale of the Property or any portion thereof; (f) To complete any construction or development which may be in progress; (g) To do such maintenance and make such repairs and alterations as the receiver deems necessary; (h) To use all stores of materials, supplies and maintenance equipment on the Real Property and to replace and replenish such items at the expense of the receivership estate; (i) To pay the operating expenses of the Property, including costs of management and leasing or marketing thereof (which shall include lease commissions, sale commissions), payments under contracts and agreements for development and construction; (j) To pay all taxes and assessments against the Property and any property which is collateral for the Secured Obligations, all premiums for insurance thereon, all utility and other operating expenses, and all sums due under any prior or subsequent encumbrance; (k) To borrow from the Lender such funds as may be reasonably necessary to the effective exercise of the receiver's powers, on such terms as may be agreed upon by the receiver and the Lender, but not in excess of the Default Rate under the Note; and (l) Generally do anything which Trustor Borrower could legally do if Trustor Borrower were in possession of the Property. (m) All expenses incurred by the receiver or the receiver's agent shall constitute part of the Secured Obligations. Any Rents collected by the receiver shall be applied first to the expenses of the receivership (including attorneys' fees incurred by the receiver and by Lender), to expenses of the Property, and to preserve, protect, maintain and operate the Property and any other collateral which is security for the Secured Obligations, and the balance shall be applied toward the Secured Obligations or any deficiency which may result from any foreclosure sale, and then in such other manner as the court may direct. Unless sooner terminated with the express consent of the Lender, any such receivership will continue until all amounts remaining due under the Note have been discharged in full, or until title to the Property has passed after foreclosure sale and all applicable periods of redemption have expired, and in either case, the court has discharged the receiver. Trustor Borrower covenants to promptly reimburse and pay to Lender or such receiver, at the place where the Note is payable, or at such other place as may be designated in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Lender or such receiver in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Lender or such receiver at the Default Rate, as set forth in the Note, and all such expenses, costs, taxes, interest, and other charges shall be part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Trustor Borrower and, except for Lender's or such receiver's willful misconduct or gross negligence, Lender or such receiver 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, or to complete development.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of Lender Beneficiary or a receiver, whether before or after an Event of Default, Lender Beneficiary or the receiver and receiver's agents shall be empowered: (a) To take possession of the Property, Leases, Rents and Revenues and any business conducted by Trustor or any other person thereon and any business assets used in connection therewith and any Property in which Lender Beneficiary has a security interest granted by Trustor and, if the receiver deems it appropriate, to operate the same; (b) To exclude Trustor and Trustor's agents, servants, and employees from the Real Property; (c) With or without taking possession of the Real Property, to collect the RentsRents and Revenues, including those past due and unpaid and security depositsunpaid; (d) To rent, lease or let all or any portion of the Property to any party or parties at such rental and upon such terms as the Lender Beneficiary shall, and to pay any leasing or rental commissions associated therewith in its discretion, determine; (e) To continue the development, marketing and sale of the Property or any portion thereof; (f) To complete any construction or development which may be in progress; (g) To do such maintenance and make such repairs and alterations as the receiver deems necessary; (h) To use all stores of materials, supplies and maintenance equipment on the Real Property and to replace and replenish such items at the expense of the receivership estate; (i) To pay the operating expenses of the Property, including costs of management and leasing or marketing thereof (which shall include lease commissions, sale commissions), payments under contracts and agreements for development and construction; (j) To pay all taxes and assessments against the Property and any property which is collateral for the Secured Obligations, all premiums for insurance thereon, all utility and other operating expenses, and all sums due under any prior or subsequent encumbrance; (k) To borrow from the Lender Beneficiary such funds as may be reasonably necessary to the effective exercise of the receiver's powers, on such terms as may be agreed upon by the receiver and the LenderBeneficiary, but not in excess of the Default Rate under the Note; and (l) Generally do anything which Trustor could legally do if Trustor were in possession of the Property. (m) . All reasonable expenses incurred by the receiver or the receiver's agent shall constitute part of the Secured Obligations. Any Rents revenues collected by the receiver shall be applied first to the expenses of the receivership (including reasonable attorneys' fees incurred by the receiver and by LenderBeneficiary), to expenses of the Property, and to preserve, protect, maintain and operate the Property and any other collateral which is security for the Secured Obligations, and the balance shall be applied toward the Secured Obligations or any deficiency which may result from any foreclosure sale, and then in such other manner as the court may direct. Unless sooner terminated with the express consent of the LenderBeneficiary, any such receivership will continue until all amounts remaining due under the Note have been discharged in full, or until title to the Property has passed after foreclosure sale and all applicable periods of redemption have expired, and in either case, the court has discharged the receiver. Trustor covenants to promptly reimburse and pay to Lender Beneficiary or such receiver, at the place where the Note is payable, or at such other place as may be designated in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Lender Beneficiary or such receiver in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Lender Beneficiary or such receiver at the Default Rate, as set forth in the Note, and all such expenses, costs, taxes, interest, and other charges shall be part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Trustor and, except for LenderBeneficiary's or such receiver's willful misconduct or gross negligence, Lender Beneficiary or such receiver 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, or to complete development.