PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which affects the Property or title thereto or the interest of Lender therein, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt or decedent, then Lender, at Lender’s option, may make such appearances, disburse such sums and take such action as Lender deems necessary, in its sole discretion, to protect Xxxxxx’s interest, including, but not limited to, (i) disbursement of attorney’s fees, (ii) entry upon the Property to make repairs, and (iii) procurement of satisfactory insurance as provided in paragraph 5 hereof. Any amounts disbursed by Xxxxxx pursuant to this paragraph shall become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such amounts shall be immediately due and payable and shall bear interest from the date of disbursement at the Event of Default rate stated in the Note unless collection from Borrower of interest at such rate would be contrary to applicable law, in which event such amounts shall bear interest at the highest rate which may be collected from Borrower under applicable law. Nothing contained in this paragraph shall require Lender to incur any expense or take any action hereunder.
PROTECTION OF LENDER'S SECURITY. (a) If Borrower fails to perform any of its obligations under this Instrument or any other Loan Document, or if any action or proceeding is commenced which purports to affect the Mortgaged Property, Lender's security or Lender's rights under this Instrument, including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Hazardous Materials Laws, fraudulent conveyance or reorganizations or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such actions as Lender reasonably deems necessary to perform such obligations of Borrower and to protect Lender's interest, including (1) payment of fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants, (2) entry upon the Mortgaged Property to make repairs or secure the Mortgaged Property, (3) procurement of the insurance required by Section 19, and (4) payment of amounts which Borrower has failed to pay under Sections 15 and 17.
(b) Any amounts disbursed by Lender under this Section 12, or under any other provision of this Instrument that treats such disbursement as being made under this Section 12, shall be added to, and become part of, the principal component of the Indebtedness, shall be immediately due and payable and shall bear interest from the date of disbursement until paid at the "Default Rate", as defined in the Note.
(c) Nothing in this Section 12 shall require Lender to incur any expense or take any action.
PROTECTION OF LENDER'S SECURITY. Borrower shall not and will not apply for or avail itself of any appraisement, valuation, stay, extension or exemption laws, or any so-called "Moratorium Laws", now existing or hereafter enacted, in order to prevent or hinder the enforcement or foreclosure of this Mortgage, but hereby waives the benefit of such laws. Borrower for itself and all who may claim through or under it waives any and all right to have the property and estates comprising the Property marshaled upon any foreclosure of the lien hereof and agrees that any court having jurisdiction to foreclose such lien may order the Property sold as an entirety. Borrower further waives and releases (a) all errors, defects and imperfections in any proceedings instituted by Lender under the Note, this Mortgage or any of the other Loan Documents; (b) all benefits that might accrue to Borrower by virtue of any present or future laws exempting the Property, or any part of the proceeds arising from any sale thereof, from attachment, levy or sale under civil process, or extension, exemption from civil process or extension of time for payment; and (c) all notices not specifically required by this Mortgage of Event of Default, or of Lender's exercise, or election to exercise, any option under this Mortgage. At any time after the occurrence of an Event of Default hereunder, Lender, or Lender's agents or contractors, is authorized, without notice and in Lender's sole discretion, to enter upon and take possession of the Property or any part thereof, and to perform any acts which Lender deems necessary or proper to conserve the security interest herein intended to be provided by the Property, to operate any business or businesses conducted thereon, and to collect and receive all Rents thereof and therefrom, including those past due as well as those accruing thereafter.
PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform any of its obligations under this Security Instrument or any other Loan Document, or any action or proceeding is commenced that purports to affect the Mortgaged Property, Lender’s security, rights or interests under this Security Instrument or any Loan Document (including eminent domain, insolvency, code enforcement, civil or criminal forfeiture, enforcement of Environmental Laws, fraudulent conveyance or reorganizations or proceedings involving a debtor or decedent), Lender may, at its option, make such appearances, disburse or pay such sums and take such actions, whether before or after an Event of Default or whether directly or to any receiver for the Mortgaged Property, as Lender reasonably deems necessary to perform such obligations of Borrower and to protect the Mortgaged Property or Lender’s security, rights or interests in the Mortgaged Property or the Mortgage Loan, including:
(a) paying fees and out-of-pocket expenses of attorneys, accountants, inspectors and consultants;
(b) entering upon the Mortgaged Property to make repairs or secure the Mortgaged Property;
(c) obtaining (or force-placing) the insurance required by the Loan Documents; and
(d) paying any amounts required under any of the Loan Documents that Borrower has failed to pay. Any amounts so disbursed or paid by Lender shall be added to, and become part of, the principal balance of the Indebtedness, be immediately due and payable and bear interest at the Default Rate from the date of disbursement until fully paid. The provisions of this Section 4 shall not be deemed to obligate or require Lender to incur any expense or take any action.
PROTECTION OF LENDER'S SECURITY. At any time after default hereunder, the Lender is authorized, without notice and in its sole discretion, to enter upon and take possession of the Property or any part thereof and to perform any acts which the Lender deems necessary or proper to conserve the security herein intended to be provided by the Property, to operate any business or businesses conducted thereon and to collect and receive all rents, issues and profits thereof and therefrom, including those past due as well as those accruing thereafter.
PROTECTION OF LENDER'S SECURITY. If Xxxxxxxx fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced that materially affects Xxxxxx's interest in the Property, then Lender, at Xxxxxx's option, upon notice to Borrower, may make such appearances, disburse such sums, including reasonable attorneys' fees and costs, and take such action as is necessary to protect Xxxxxx's interest. If Lender requires mortgage insurance as a condition of making the Loan, Borrower will pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any amounts disbursed by Xxxxxx pursuant to this paragraph 7, including any reasonable attorney’s fees and costs incurred by Xxxxxx, with interest thereon, at the Note Default Interest Rate, will become additional indebtedness of Borrower secured by this Mortgage. Unless Borrower and Xxxxxx agree to other terms of payment, such amounts will be payable upon notice from Lender to Borrower requesting payment thereof. Nothing contained in this paragraph 7 will require Lender to incur any expense or take any action hereunder.
PROTECTION OF LENDER'S SECURITY. Except when Wildcat has exercised Wildcat’s rights under paragraph 6 above, if Wildcat fails to perform the covenants and agreements contained in this Deed of Trust, or if a default occurs in a prior lien, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lender, at Lender's option, with notice to Wildcat if required by law, may make such appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but not limited to:
(a) any general or special taxes or ditch or water assessments levied or accruing against the Property;
(b) the premiums on any insurance necessary to protect any improvements comprising a part of the Property;
(c) sums due on any prior lien or encumbrance on the Property;
(d) if the Property is a leasehold or is subject to a lease, all sums due under such lease;
(e) the reasonable costs and expenses of defending, protecting, and maintaining the Property and Lender's interest in the Property, including repair and maintenance costs and expenses, costs and expenses of protecting and securing the Property, receiver’s fees and expenses, inspection fees, appraisal fees, court costs, attorney fees and costs, and fees and costs of an attorney in the employment of the Lender or holder of the certificate of purchase;
(f) all other costs and expenses allowable by the evidence of debt or this Deed of Trust, and
(g) such other costs and expenses which may be authorized by a court of competent jurisdiction. Wildcat hereby assigns to Lender any right Wildcat may have by reason of any prior encumbrance on the Property or by law or otherwise to cure any default under said prior encumbrance. Any amounts disbursed by Lender pursuant to this paragraph 9, with interest thereon, shall become additional indebtedness of Wildcat secured by this Deed of Trust. Such amounts shall be payable upon notice from Lender to Wildcat requesting payment thereof, and Lender may bring suit to collect any amounts so disbursed plus interest specified in paragraph 2(b) (Notes; Other Obligations Secured). Nothing contained in this paragraph 9 shall require Lender to incur any expense or take any action hereunder.
PROTECTION OF LENDER'S SECURITY. If Xxxxxxxxx fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially affects Lender’s interest in the Property, then Lender, at Lender’s option, upon notice to Mortgagor, may make such appearances, disburse such sums, including reasonable attorneys’ fees, and take such action as is necessary to protect Xxxxxx’s interest. If Lender required mortgage insurance as a condition of making the loan secured by this Mortgage, Mortgagor shall pay the premiums required to maintain such insurance in effect until such time as the requirement for such insurance terminates in accordance with Mortgagor’s and Xxxxxx’s written agreement or applicable law.
PROTECTION OF LENDER'S SECURITY. If Borrower is in Default or if any action or proceeding is commenced which materially adversely affects the Property or title thereto or the interest of Lender therein, including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankrupt or decedent, then Lender at Lender's option may make such appearances, disburse such sums and take such action as Lender deems necessary, in its sole discretion, to protect Lender's interest, including, but not limited to, (i) disbursement of attorneys' fees, (ii) entry upon the Property to make repairs, (iii) procurement of satisfactory insurance as provided in paragraph 6 hereof, (iv) if the Instrument encumbers a leasehold interest, exercise of any option to renew or extend the Lease on behalf of Borrower and the curing of any default of Borrower in the terms and conditions of the Lease, (v) the payment of any taxes and/or assessments levied against the Property and then due and payable, and (vi) discharge (by payment, bonding or otherwise) of any lien (including any Lien) on the Property which is not a Permitted Encumbrance. In addition, if any action or proceeding is commenced which materially adversely affects the Property or title thereto or the interest of Lender therein, including, but not limited to, eminent domain, insolvency, code enforcement, or arrangements or proceedings involving a bankruptcy and if Borrower is not diligently pursuing available legal rights or remedies with respect to such actions or proceedings and such non-action could result in a material adverse effect on the value of the Property, then Lender, at Lender's option, may make such appearances, disburse such sums (including reasonable attorneys' fees) and take such actions as Lender deems reasonably necessary to protect Lender's interest. In addition, with respect to an environmental condition which may affect the Property during the term of the Loan or the interest of Lender therein, including, but not limited to any actual or suspected on-site environmental pollution conditions which are, or are reasonably believed to be, in violation of applicable environmental laws and have (or are reasonably believed to have) a material adverse affect on the Property or the Borrower, or upon a Default, then Lender (or its agent, contractor or designee), at Lender's option, shall have the right to enter the Property to conduct tests and investigate any such pollution conditions. If the environ...
PROTECTION OF LENDER'S SECURITY. If Borrower fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Property, then Lender, at Lender's option, upon notice to Borrower, may disburse such sums, including reasonable attorneys' fees, and take such actions as are necessary to protect Lender's interest, and any expenses so incurred by Lender shall be secured by this Mortgage.
