Common use of USE AND MAINTENANCE OF PROPERTY Clause in Contracts

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value) without the prior written consent of Lender. Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 3 contracts

Samples: Mortgage and Security Agreement (Gladstone Commercial Corp), Defined Terms (Fairchild Corp), Escrow Agreement (Sheldahl Inc)

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USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished (except in connection with a casualty) or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value, and except as permitted by any existing Leases) without the prior written consent of Lender, which approval shall nor be unreasonably withheld, conditioned or delayed. Except as otherwise expressly permitted herein, Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become becomes damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, without Xxxxxx’s prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, join in, acquiesce in, or consent to any change in any private restrictive covenantcovenant (other than use restrictions under the Leases), zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management. In connection with any proposed new easement or restrictive covenant or modification of any existing easement or restrictive covenant, Lender shall use good faith efforts to respond within twenty (20) days after Xxxxxx’s receipt of both Borrower’s written request for approval or consent and all relevant information regarding such request. If Xxxxxx fails to respond to such request within such twenty (20) day period, and such request contained a legend clearly marked in not less than fourteen (14) point bold face type, underlined, in all capital letters “REQUEST DEEMED APPROVED IF NO RESPONSE WITHIN 20 DAYS”, Lender shall be deemed to have approved or consented to such matter.

Appears in 2 contracts

Samples: Trust and Security Agreement (Inland American Real Estate Trust, Inc.), Trust and Security Agreement (Inland American Real Estate Trust, Inc.)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater valuevalue and except as permitted under Leases (other than the Master Lease) for approved construction and landlord or tenant fit outs) without the prior written consent of Lender. Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land, subject to the obligations of tenants under any Leases (other than the Master Lease). Borrower shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereofthereof without the prior written consent of Lender which shall not be unreasonably withheld. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of LenderLender which shall not be unreasonably withheld. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 1 contract

Samples: Security Agreement (Reading International Inc)

USE AND MAINTENANCE OF PROPERTY. Grantor and Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Grantor and/or Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value) without the prior written consent of LenderBeneficiary. Grantor and/or Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof (subject to release by Beneficiary to Grantor or Borrower of any award of compensation related to any condemnation or process of eminent domain described therein) and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Neither Grantor nor Borrower shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, neither Grantor nor Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of LenderBeneficiary. Neither Grantor nor Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of managementmanagement without Beneficiary’s prior consent.

Appears in 1 contract

Samples: Trust and Security Agreement (Columbia Equity Trust, Inc.)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished (except in connection with a casualty) or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value, and except as permitted by any existing Leases) without the prior written consent of Lender, which approval shall nor be unreasonably withheld, conditioned or delayed. Except as otherwise expressly permitted herein, Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become becomes damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, without Lender’s prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, join in, acquiesce in, or consent to any change in any private restrictive covenantcovenant (other than use restrictions under the Leases), zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management. In connection with any proposed new easement or restrictive covenant or modification of any existing easement or restrictive covenant, Lender shall use good faith efforts to respond within twenty (20) days after Lender’s receipt of both Borrower’s written request for approval or consent and all relevant information regarding such request. If Lender fails to respond to such request within such twenty (20) day period, and such request contained a legend clearly marked in not less than fourteen (14) point bold face type, underlined, in all capital letters “REQUEST DEEMED APPROVED IF NO RESPONSE WITHIN 20 DAYS”, Lender shall be deemed to have approved or consented to such matter.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished (except in connection with a casualty) or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value, and except as permitted by any existing Leases) without the prior written consent of Lender, which approval shall not be unreasonably withheld, conditioned or delayed. Except as otherwise expressly permitted herein, Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become becomes damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, without Lender’s prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, join in, acquiesce in, or consent to any change in any private restrictive covenantcovenant (other than use restrictions under the Leases), zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management. In connection with any proposed new easement or restrictive covenant or modification of any existing easement or restrictive covenant, Lender shall use good faith efforts to respond within twenty (20) days after Lender’s receipt of both Borrower’s written request for approval or consent and all relevant information regarding such request. If Lender fails to respond to such request within such twenty (20) day period, and such request contained a legend clearly marked in not less than fourteen (14) point bold face type, underlined, in all capital letters “REQUEST DEEMED APPROVED IF NO RESPONSE WITHIN 20 DAYS”, Lender shall be deemed to have approved or consented to such matter.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Inland American Real Estate Trust, Inc.)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value) without the prior written consent of Lender. Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, acquiesce in, in or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 1 contract

Samples: Escrow Agreement (First Potomac Realty Trust)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property or system elements of the Improvements with items of the same utility and of equal or greater valuevalue and non-structural alterations in connection with tenant improvements under leases approved by Lender or for which Lender's approval is not required under this Security Instrument) without the prior written consent of Lender. Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, acquiesce in, in or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which XXXXXX GUARANTY TRUST COMPANY may be made of the Property or any part thereofthereof which would decrease the value of the Property. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of LenderLender unless there are replacement tenants with conforming uses. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 1 contract

Samples: Trust and Security Agreement (First Potomac Realty Trust)

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USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction, subject, in the case of a casualty, to the availability of insurance proceeds. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value) without the prior written consent of Lender. Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 1 contract

Samples: Security Agreement (Westcoast Hospitality Corp)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. JPMORGAN CHASE BANK Borrower shall not use, maintain or operate the Property in any manner which constitutes constitute a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property property shall not be removed, demolished or materially altered (except altered(except for normal replacement of the Personal Property with items of the same utility and of equal or greater valuevalue unless obsolete and non-structural alterations in connection with tenant improvements under leases approved by Lender or for which Lender's approval is not required under this Security Instrument) without the prior written consent of Lender. Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction Construction or repair on the Land. Borrower shall not initiate, join Join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereofthereof absent Lender's prior written consent. If under applicable zoning provisions provision the use of all or any portion of the Property property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 1 contract

Samples: Trust and Security Agreement (First Potomac Realty Trust)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value) without the prior written consent of Lender. Borrower shall promptly shall, with all diligent speed, repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 1 contract

Samples: Escrow Agreement (First Union Real Estate Equity & Mortgage Investments)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, of any insurance then in force with respect thereto. The Improvements and the Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater valuevalue unless obsolete and non-structural alterations in connection with tenant improvements under leases approved by Lender or for which Lender's approval is not required under this Security Instrument) without the prior written consent of Lender. Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, acquiesce acquiesee in, or consent to any change in any private restrictive covenant, zoning law or other public or private JPMORGAN CHASE BANK restriction, limiting or defining the uses which may be made of the Property or any part thereofthereof absent Lender's prior written consent. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (First Potomac Realty Trust)

USE AND MAINTENANCE OF PROPERTY. Borrower shall cause the Property to be maintained and operated in a good and safe condition and repair and in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not use, maintain or operate the Property in any manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the premium of, any insurance then in force with respect thereto. The Improvements and the Tangible Personal Property shall not be removed, demolished or materially altered (except for normal replacement of the Personal Property with items of the same utility and of equal or greater value) without the prior written consent of Lender. Borrower shall promptly repair, replace or rebuild any part of the Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in Section 3.4 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Land. Borrower shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or defining the uses which may be made of the Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Property is or shall become a nonconforming use, Borrower will not cause or permit the nonconforming use to be discontinued or abandoned without the express written consent of Lender. Borrower shall not take any steps whatsoever to convert the Property, or any portion thereof, to a condominium or cooperative form of management.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Republic Property Trust)

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