Advances by Lender. Lender may make advances to perform any of the covenants contained in this Mortgage on Borrower's behalf and all sums so advanced (and all sums advanced pursuant to any other provision hereof) by Lender shall be secured hereby. Borrower shall repay on demand all sums so advanced with interest thereon at the Default Rate, such interest to be computed from and including the date of the making of such advance to and including the date of such repayment, and at Lender's election, Lender may add the amount of such advance to the principal balance of the Loan.
Appears in 2 contracts
Sources: Mortgage, Assignment of Rents and Leases, Security Agreement and Fixture Filing (Eaco Corp), Mortgage, Assignment of Rents and Leases, Security Agreement and Fixture Filing (Family Steak Houses of Florida Inc)