Compliance With Laws and Operation and Maintenance of Property. (a) Repair and Maintenance. Borrower will operate and maintain the Property in good order, repair, and operating condition. Borrower will promptly make all necessary repairs, replacements, additions, and improvements necessary to ensure that the Property shall not in any way be materially diminished or impaired. Borrower will not cause or allow any of the Property to be misused, wasted, or to deteriorate and Borrower will not abandon the Property. No new building, structure, or other improvement shall be constructed on the Land nor shall any material part of the Improvements be removed, demolished, or structurally or materially altered, without Lender’s prior written consent.
Appears in 4 contracts
Samples: Multi State Mortgage and Security Agreement (CNL Hotels & Resorts, Inc.), Security Agreement (CNL Hotels & Resorts, Inc.), Trust, Security Agreement and Fixture Filing (CNL Hotels & Resorts, Inc.)
