Common use of Advances by Mortgagee Clause in Contracts

Advances by Mortgagee. The Mortgagor authorizes the Mortgagee in the Mortgagees discretion to advance any sums necessary for the purpose of paying (a) insurance premiums, (b) any and all excise, property, sales, use and other taxes, forced contributions, service charges, local assessments and governmental charges on any of the Collateral, (c) any Liens affecting the Collateral (whether superior or subordinate to the lien of this Mortgage) not permitted by this Mortgage, (d) necessary repairs and maintenance expenses, or (e) any other amounts which the Mortgagee deems necessary and appropriate to preserve the validity and ranking of this Mortgage, to cure any Defaults or to prevent the occurrence of any Default (collectively, the 'Advances') of whatever kind; provided, however, that nothing herein contained shall be construed as making such Advances obligatory upon Mortgagee, or as making Mortgagee liable for any loss, damage, or injury resulting from the nonpayment thereof. The Mortgagor covenants and agrees that within five (5) days after demand therefor by the Mortgagee, the Mortgagor will repay the Advances to Mortgagee, together with interest thereon at the Default Rate, and in addition will repay any other reasonable costs, attorneys' fees and expenses, charges and expenses of any and every kind for the full protection and preservation of the Collateral or this Mortgage, including payments required in respect to any Lien affecting the Collateral, together with interest thereon at the Default Rate. All such Advances and amounts (including interest) shall be included in the Indebtedness secured hereby (subject to the maximum amount of the Indebtedness set forth above in this Mortgage).

Advances by Mortgagee. The During the continuation of any Event of Default, if Mortgagor authorizes does not pay any amount payable by it under, or fails to comply with any provision of, this Mortgage or the other Loan Documents to which Mortgagor is a party, Mortgagee may pay such amount or comply with such provision of this Mortgage or the other Loan Documents, and make such expenditures, including reasonable counsel fees, in connection therewith and with enforcing this Mortgage and the other Loan Documents, for repairing, maintaining and preserving the Mortgaged Property, for establishing, preserving, protecting and restoring the priority of the lien hereof, for obtaining official tax searches of the Mortgaged Property, for protecting and preserving any use being made of the Mortgaged Property now or hereafter, and for advances to any trustee or receiver of the Mortgaged Property, as Mortgagee reasonably deems advisable; each amount so paid or expended, with interest at the rate stated in the Mortgagees discretion to advance any sums necessary for the purpose of paying (a) insurance premiumsNote, (b) any and all excise, property, sales, use and other taxes, forced contributions, service charges, local assessments and governmental charges on any shall become part of the Collateral, (c) any Liens affecting the Collateral (whether superior or subordinate to the lien of this Mortgage) not permitted by this Mortgage, (d) necessary repairs Secured Obligations and maintenance expenses, or (e) any other amounts which the Mortgagee deems necessary be secured hereby; and appropriate to preserve the validity and ranking of this Mortgage, to cure any Defaults or to prevent the occurrence of any Default (collectively, the 'Advances') of whatever kind; provided, however, that nothing herein contained Mortgagor shall be construed as making such Advances obligatory upon Mortgagee, or as making Mortgagee liable for any loss, damage, or injury resulting from the nonpayment thereof. The Mortgagor covenants and agrees that within five (5) days after demand therefor by the Mortgagee, the Mortgagor will repay the Advances pay to Mortgagee, together on demand, the amount of each such payment or expenditure with interest thereon at the Default Rate, and in addition will repay any other reasonable costs, attorneys' fees and expenses, charges and expenses of any and every kind for the full protection and preservation of the Collateral or this Mortgage, including payments required in respect to any Lien affecting the Collateral, together with interest thereon at the Default Rate. All such Advances and amounts (including interest) shall be included rate stated in the Indebtedness secured hereby (subject Note; but no such payment or compliance by Mortgagee shall constitute a waiver of Mortgagor’s failure to the maximum amount do so or affect any right or remedy of the Indebtedness set forth above in this Mortgage)Mortgagee with respect thereto.

Advances by Mortgagee. The Whether or not an Event of Default shall have occurred, if Mortgagor authorizes does not pay any amount payable by it under, or fails to comply with any provision of, this Mortgage or the Note, Mortgagee may pay such amount or comply with such provision of, this Mortgage or the Note, and make such expenditures, including reasonable counsel fees, in connection therewith and with enforcing this Mortgage and the Note, for repairing, and maintaining and preserving the Premises, for establishing, preserving, protecting and restoring the priority of the lien hereof, for obtaining official tax searches of the Premises, for protecting and preserving any use being made of the Premises now or hereafter, and for advances to any trustee or receiver of the Premises, as Mortgagee deems advisable; each amount so paid or expended, with interest at the rate stated in the Mortgagees discretion to advance any sums necessary for the purpose of paying (a) insurance premiumsNote, (b) any and all excise, property, sales, use and other taxes, forced contributions, service charges, local assessments and governmental charges on any shall become part of the Collateral, (c) any Liens affecting the Collateral (whether superior or subordinate to the lien of this Mortgage) not permitted by this Mortgage, (d) necessary repairs Note and maintenance expenses, or (e) any other amounts which the Mortgagee deems necessary be secured hereby; and appropriate to preserve the validity and ranking of this Mortgage, to cure any Defaults or to prevent the occurrence of any Default (collectively, the 'Advances') of whatever kind; provided, however, that nothing herein contained Mortgagor shall be construed as making such Advances obligatory upon Mortgagee, or as making Mortgagee liable for any loss, damage, or injury resulting from the nonpayment thereof. The Mortgagor covenants and agrees that within five (5) days after demand therefor by the Mortgagee, the Mortgagor will repay the Advances pay to Mortgagee, together on demand, the amount of each such payment or expenditure with interest thereon at the Default Rate, and in addition will repay any other reasonable costs, attorneys' fees and expenses, charges and expenses of any and every kind for the full protection and preservation of the Collateral or this Mortgage, including payments required in respect to any Lien affecting the Collateral, together with interest thereon at the Default Rate. All such Advances and amounts (including interest) shall be included rate stated in the Indebtedness secured hereby (subject Note; but no such payment or compliance by Mortgagee shall constitute a waiver of Mortgagor's failure so to the maximum amount do or affect any right or remedy of the Indebtedness set forth above in this Mortgage)Mortgagee with respect thereto.

Advances by Mortgagee. The Mortgagor authorizes the Mortgagee in Mortgagee, following the Mortgagees discretion occurrence of a Default, to advance any sums necessary necessary, limited only as hereinafter set forth, for the purpose of paying (ai) insurance premiums, (bii) any and all excise, property, sales, use and other taxes, forced contributions, service charges, local assessments and governmental charges on any of the Collateralcharges, (ciii) any Liens liens or encumbrances affecting the Collateral Mortgaged Property (whether superior or subordinate to the lien of this Mortgage) not permitted by this Mortgage, (div) necessary repairs and maintenance expenses, expenses or (ev) any other amounts which the Mortgagee deems necessary and appropriate to preserve the validity and ranking of this Mortgage, to cure any Defaults Event of Default or to prevent the occurrence of any Event of Default (collectively, the '"Advances'") of whatever kind; provided, however, that nothing herein contained shall be construed as making such Advances obligatory upon Mortgagee, or as making Mortgagee liable for any loss, damage, or injury resulting from the nonpayment thereof. The Mortgagor covenants and agrees that within five (5) days after demand therefor by the Mortgagee, the Mortgagor will repay the Advances to the Mortgagee, together with interest thereon at the Default Raterate of 15% per annum, and in addition will repay any other reasonable costs, attorneys' fees and expenses, charges and expenses of any and every kind for the full protection and preservation of the Collateral Mortgaged Property or this Mortgage, including payments required in respect to any Lien lien, privilege or mortgage affecting the CollateralMortgaged Property, together with interest thereon at the Default Rate. All such Advances rate of 15% per annum, and amounts (including interest) which amount shall be included in the Indebtedness secured hereby (subject to the maximum amount of the Indebtedness set forth above in this Mortgage)hereby.