Trust Fund; Lien Laws. Grantor will receive the advances secured hereby and will hold the right to receive such advances as a trust fund to be applied first for the purpose of paying the costs of improvements on the Premises and will apply the same first to the payment of such costs before using any part of the total of the same for any other purpose. Grantor will indemnify and hold Trustee and Beneficiary harmless against any loss or liability, cost or expense, including, without limitation, any judgments, attorney's fees, costs of appeal bonds and printing costs, arising out of or relating to any proceeding instituted by any claimant alleging a violation by Grantor of any applicable lien law.
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Samples: Purchase Money Deed of Trust (Apple Suites Inc), Fee and Leasehold Deed of Trust, Assignment of Leases and Rents and Security Agreement (Apple Suites Inc), Fee and Leasehold Deed of Trust, Assignment of Leases and Rents and Security Agreement (Apple Suites Inc)
Trust Fund; Lien Laws. Grantor will receive the advances --------------------- secured hereby and will hold the right to receive such advances as a trust fund to be applied first for the purpose of paying the costs of improvements on the Premises and will apply the same first to the payment of such costs before using any part of the total of the same for any other purpose. Grantor will indemnify and hold Trustee and Beneficiary harmless against any loss or liability, cost or expense, including, without limitation, any judgments, attorney's fees, costs of appeal bonds and printing costs, arising out of or relating to any proceeding instituted by any claimant alleging a violation by Grantor of any applicable lien law.
Appears in 2 contracts
Samples: Fee and Leasehold Deed of Trust, Assignment of Leases and Rents and Security Agreement (Apple Suites Inc), Fee and Leasehold Deed of Trust, Assignment of Leases and Rents and Security Agreement (Apple Suites Inc)
Trust Fund; Lien Laws. Grantor will receive the advances secured hereby and will hold the right to receive such advances as a trust fund to be applied first for the purpose of paying the costs of improvements on completing the Premises "Improvements" defined in the Loan Agreement and will apply the same first to the payment of such costs before using any part of the total of the same for any other purpose. Grantor will indemnify and hold Trustee Trustee, Beneficiary and Beneficiary Lenders harmless against any loss or liability, cost or expense, including, without limitation, any judgments, attorney's fees, costs of appeal bonds and printing costs, arising out of or relating to any proceeding instituted by any claimant alleging a violation by Grantor of any applicable lien law.
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