Right to Remedy Defaults. If Mortgagor fails to pay, or cause the payment of, taxes, assessments, water and sewer charges or other lienable claims (except in case of contest as aforesaid) or insurance premiums, or fails to make necessary repairs or permit waste, or otherwise fails to comply with its obligations hereunder or under the Guaranty or any other document executed in connection with this Mortgage, then Mortgagee, at its election and upon one (1) day notice to Mortgagor, shall have the right to make any payment or expenditure which Mortgagor should have made, or which Mortgagee deems advisable in the exercise of its reasonable business judgment to protect the security of this Mortgage or the Mortgaged Property, without prejudice to any of the Mortgagee’s rights or remedies available hereunder or otherwise, at law or in equity. All such sums, as well as costs, advanced by Mortgagee pursuant to this Mortgage shall be due from Mortgagor to Mortgagee within ten (10) days after written demand, shall be secured hereby, and shall bear interest at the Default Rate from the date of payment by Mortgagee until the date of repayment.
Right to Remedy Defaults. (a) Upon the occurrence of an Event of Default (or, in the case of an emergency threatening the Mortgaged Property or Mortgagee's rights therein, the occurrence of an event which if uncured will constitute an Event of Default with the passage of time), Mortgagee may (but shall not be obligated to) pay any reasonable sum or perform any other obligation for the account of Mortgagor which Mortgagor has failed to pay or perform in accordance with the terms of this Section.
(b) In the event of Mortgagor's failure to pay the taxes, water rents or charges, sewer rents, charges, claims, assessments, liens, or encumbrances described in Section 3.2, or to furnish and pay for the insurance required in Section 3.15, or to keep the Mortgaged Property in good condition and repair as provided in Section 3.3, or to discharge any liens, encumbrances, or charges as provided in Section 3.9, Mortgagee may, at its option, pay any or all such items, together with penalties and interest thereon and procure and pay for such insurance and repairs, and Mortgagee may at any time and from time to time advance such additional sum or sums as Mortgagee in its sole discretion may deem necessary to protect the security of this Mortgage. All such sums to be paid or advanced by Mortgagee shall be included in the Obligations Secured, and shall upon demand be repaid by Mortgagor, together with interest thereon at the Default Rate.
Right to Remedy Defaults. If Grantor fails to pay, or cause the payment of, taxes, assessments, water and sewer charges or other lienable claims (except in case of contest as aforesaid) or insurance premiums, or fails to make necessary repairs or permit waste, or otherwise fails to comply with its obligations hereunder or under the Guaranty or any other document executed in connection with this Security Instrument, then Grantee, at its election and upon one (1) day notice to Grantor, shall have the right to make any payment or expenditure which Grantor should have made, or which Grantee deems advisable, in the exercise of its reasonable business judgment to protect the security of this Security Instrument or the Property, without prejudice to any of the Grantee’s rights or remedies available hereunder or otherwise, at law or in equity. All such sums, as well as costs, advanced by Grantee pursuant to this Security Instrument shall be due from Grantor to Grantee within ten (10) days after written demand, shall be secured hereby, and shall bear interest at the Default Rate from the date of payment by Grantee until the date of repayment.
Right to Remedy Defaults. (a) If Mortgagor should fail to pay corporate taxes, Taxes, sums due under any Permitted Lien against the Mortgaged Property, or insurance premiums, or any sums payable by Mortgagor pursuant to the Leases, or fail to make necessary repairs to the Mortgaged Property, or permit waste to the Mortgaged Property, shall otherwise fail to perform its obligations under this Mortgage, Mortgagee, at its election, after giving Mortgagor three (3) business days' notice of such failure (except in an emergency in which case no such notice shall be required), shall have the right to make any payment or expenditure and to take any action which Mortgagor should have made or taken, or which Mortgagee deems advisable to protect the security of this Mortgage or the Mortgaged Property, without prejudice to any of Mortgagee's rights or remedies available hereunder or otherwise, at law or in equity. Such payment by Mortgagee shall not release Mortgagor from Mortgagor's obligations or constitute a waiver of Mortgagor's default under this Mortgage.
(b) Mortgagee in making any payment authorized by this Paragraph: (i) relating to Taxes and corporate taxes, may do so according to any bill, statement or estimate procured from the appropriate publix xffice without inquiry into the accuracy of such bill, statement or estimate or into the validity of the Tax or cxxxx thereof; or (ii) for the purchase, discharge, compromise or settlement of any other Lien, may do so without inquiry as to the validity or amount of any claim for lien which may be asserted; or (iii) for the payment of any sums to cure any default under the Leases, may do so without inquiry as to the validity or amount of any claimed default thereunder. In exercising its rights hereunder Mortgagee may, but need not, make full or partial payments on any Lien, if any, and purchase, discharge, compromise or settle any tax lien or other Lien or title or claim thereof, or redeem from any tax sale or forfeiture effecting the Mortgaged Property or contest any tax. Such payments will be deemed made by Mortgagee at Mortgagor's request and Mortgagee shall be subrogated to any and all rights and liens held by the owner or holder of any Lien, irrespective of whether such Lien is released or satisfied.
(c) All such sums, as well as costs, advanced by Mortgagee pursuant to this Mortgage shall be due immediately from Mortgagor to Mortgagee, shall be secured by this Mortgage and the lien therefore shall relate back to the date of this Mortg...
Right to Remedy Defaults. In the event that Borrower should fail to pay corporate taxes, real estate or other taxes, assessments, water and sewer rents, charges and claims on or before the date on which any penalty may be imposed with respect thereto, or fail to pay insurance premiums, or fail to make necessary repairs, or permit waste, or fail to comply with any other provision of this Deed of Trust or the Loan Documents, Lender, at its election and without notice to Borrower, shall have the right to make any payment or expenditure and to take any action which Borrower should have made or taken, or which Lender deems advisable to protect the security of this Deed of Trust or the Mortgaged Property, without prejudice to any of Lender’s rights or remedies available hereunder or otherwise, at law or in equity. All such sums, as well as costs, advanced by Lender pursuant to this Deed of Trust shall be due immediately from Borrower to Lender, shall be secured hereby, and shall bear interest at the Default Rate (as defined in the Note) from the date of payment by Lender until the date of repayment.
Right to Remedy Defaults. Any Leasehold Mortgagee, in case the Tenant shall be in default hereunder, shall have the right to remedy such default, or cause the same to be remedied, during the cure time (if any) following notice of default provided in Section 17.1 and any additional time as may be provided in Section 9.4(c), and the Landlord shall accept such performance by or at the instance of such Leasehold Mortgagee as if the same had been made by the Tenant. In addition, any Leasehold Mortgagee shall have the right to remedy such default, or cause the same to be remedied, within ten (10) days of the expiration of the Tenant’s cure period under Section 17.1 if such default is a monetary default, and within thirty (30) days of the expiration of the Tenant’s cure period under Section 17.1 if such default is a non-monetary default.
Right to Remedy Defaults. In the event that Grantor should fail to pay corporate taxes, real estate or other taxes, assessments, water and sewer rents, charges and claims on or before the date on which any penalty may be imposed with respect thereto, or fail to pay insurance premiums, or fail to make necessary repairs, or permit waste, or fail to comply with any other provision of this Deed of Trust or the Loan Documents, Beneficiary, at its election and without notice to Grantor, shall have the right to make any payment or expenditure and to take any action which Grantor should have made or taken, or which Beneficiary deems advisable to protect the security of this Deed of Trust or the Mortgaged Property, without prejudice to any of Beneficiary’s rights or remedies available hereunder or otherwise, at law or in equity. In the event Beneficiary makes any payments or expenditures or takes any actions in accordance with the provisions of this Section 19, Beneficiary shall use commercially reasonable efforts to provide written notice to Grantor of such payments, expenditures or actions. All such sums, as well as costs, advanced by Beneficiary pursuant to this Deed of Trust shall be due immediately from Grantor to Beneficiary, shall be secured hereby, and shall bear interest at the Default Rate (as defined in the Note) from the date of payment by Beneficiary until the date of repayment.
Right to Remedy Defaults. In the event that Mortgagor should (a) fail to pay taxes, assessments, water and sewer charges or other lienable claims (except in case of contest as aforesaid) or insurance premiums, (b) fail to make necessary repairs, (c) permit waste, or (d) otherwise fail to comply with its obligations hereunder or under the Loan Agreement, the Notes, the Security Documents or any other document executed in connection with this Mortgage, then Mortgagee, at its election and at any time after five business days notice to Mortgagor, shall have the right to make any payment or expenditure which Mortgagor should have made, or which Mortgagee deems advisable to protect the security of this Mortgage or the Mortgaged Property, without prejudice to any of Mortgagee's rights or remedies available hereunder or otherwise, at law or in equity. Mortgagee shall be the sole judge of the necessity of such payment and of the amount necessary to be paid with respect thereto. All such sums, as well as costs, advanced by Mortgagee pursuant to this Section 12 shall constitute Secured Obligations and shall be due immediately from Mortgagor to Mortgagee, shall be secured hereby, and shall bear interest at the rate provided for Revolving Credit Loans under the Loan Agreement.
Right to Remedy Defaults. If, after the expiration of applicable notice and grace periods, Mortgagor should fail to perform or cause to be performed any of the terms, agreements or conditions of Mortgagor in this Mortgage, Mortgagee, at its election and without notice to Mortgagor, shall have the right to make any payment or expenditure and to take any action which Mortgagor should have made or taken, or which Mortgagee deems advisable to protect the security of this Mortgage or the Mortgaged Property, without prejudice to any of Mortgagee’s rights or remedies available hereunder or otherwise, at law or in equity. All such sums, as well as costs, advanced by Mortgagee pursuant to this Mortgage shall be due immediately from Mortgagor to Mortgagee, shall be secured hereby and the lien therefor shall relate back to the date of this Mortgage, and shall bear interest from the date of payment by Mortgagee until the day of repayment at the rates equal to the Default Rates provided in the Note.
Right to Remedy Defaults. If Mortgagor fails to pay Impositions or insurance premiums, or fails to make necessary repairs, or permits waste, Mortgagee, at its election, may make any payment or expenditure and take any action which Mortgagor should have made or taken, or which Mortgagee deems advisable to protect the security of this Mortgage or the Mortgaged Property, without prejudice to any of Mortgagee's rights or remedies available hereunder or otherwise, at law or in equity. All such sums, as well as costs, advanced by Mortgagee pursuant to this Mortgage shall be due immediately from Mortgagor to Mortgagee, shall be secured hereby, and shall bear interest at a rate which shall be four percent (4%) higher than the then effective rate specified in the Note from the date of payment by Mortgagee until the date of repayment. In addition to any other debt or obligation secured hereby, this Mortgage also secures unpaid balances of advances made with respect to the Mortgaged Property for the payment of Impositions, insurance premiums, or costs incurred for the protection of the Mortgaged Property.
