ADVANCES BY DECLARANT Clause Samples

ADVANCES BY DECLARANT. Declarant shall be entitled to advance any sums Declarant deems necessary, in its sole discretion, to protect and preserve the security for its rights and interest under this instrument (including, but not limited to, sums for completion of construction of any improvements on the Property, any property taxes or assessments, insurance premiums, or amounts secured or represented by encumbrances or liens or other charges on any portion of the Property which appear to be prior to Declarant’s rights and interest under this instrument), all of which advances (together with interest at the maximum rate then permitted by law) shall be secured by the lien of this instrument described in Section 3.02(b) above, and shall be subject to the power of sale provisions in this instrument if Buyer fails to reimburse Declarant for such advances within ten (10) days after demand from Declarant.