Common use of Defense of Title and Litigation Clause in Contracts

Defense of Title and Litigation. If the lien, security interest, validity, enforceability or priority of this Deed of Trust, or if title or any of the rights of Trustee and/or Beneficiary in or to the Mortgaged Property, shall be endangered, or shall be attacked directly or indirectly, or if any action or proceeding is instituted against Trustor or Trustee and/or Beneficiary with respect thereto, Trustor will promptly notify Trustee and Beneficiary thereof and will diligently endeavor to cure any defect which may be developed or claimed, and will take all necessary and proper steps for the defense of such action or proceeding, including the employment of counsel, the prosecution or defense of litigation and, subject to Beneficiary’s approval, the compromise, release or discharge of any and all adverse claims. Trustee and/or Beneficiary (whether or not named as a party to such actions or proceedings) are hereby authorized and empowered (but shall not be obligated) to take such additional steps as they may deem necessary or proper for the defense of any such action or proceeding or the protection of the lien, security interest, validity, enforceability or priority of this Deed of Trust or of such title or rights, including the employment of counsel, the prosecution or defense of litigation, the compromise, release or discharge of such adverse claims, the purchase of any tax title and the removal of such prior liens and security interests. Trustor shall, on demand, reimburse Trustee and Beneficiary for all reasonable expenses (including reasonable attorneys’ fees and disbursements) incurred by either of them in connection with the foregoing matters, and the party incurring such expenses shall be subrogated to all rights of the person receiving such payment. All such costs and expenses of Trustee and/or Beneficiary, until reimbursed by Trustor, shall be part of the Obligations and shall bear interest from the date of advance at the Default Rate (as defined in the Note) and shall be deemed to be secured by this Deed of Trust.

Appears in 1 contract

Samples: Fresh Choice Inc

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Defense of Title and Litigation. Mortgagor will not allow or permit any Lien other than Permitted Liens and Permitted Encumbrances to be asserted against the Property. If the lienLien created by this Mortgage, security interest, or the validity, enforceability or priority thereof or of this Deed of TrustMortgage, or if title or any of the rights of Trustee and/or Beneficiary Mortgagor or Mortgagee in or to any material (as determined in the Mortgaged sole discretion of Mortgagee) portion of the Property, shall be endangeredendangered or questioned, or shall be attacked directly or indirectly, or if any action or proceeding is instituted against Trustor Mortgagor or Trustee and/or Beneficiary Mortgagee with respect thereto, Trustor Mortgagor will promptly notify Trustee and Beneficiary Mortgagee thereof and will diligently endeavor to cure any defect which may be developed or claimed, and claimed and/or will take all necessary and proper steps for the defense of such action or proceeding, including the employment of counsel, the prosecution or defense of litigation and, subject to Beneficiary’s Mortgagee's reasonable approval, the compromise, release or discharge of any and all adverse claims. Trustee and/or Beneficiary Mortgagee (whether or not named as a party to such actions or proceedings) are is hereby authorized and empowered (but shall not be obligated) to take such additional steps as they it may deem necessary or proper for the defense of any such action or proceeding or the protection of the lien, security interest, validity, enforceability or priority of this Deed of Trust Mortgage or of such title or rights, including the employment of counsel, the prosecution or defense of litigation, the compromise, release or discharge of such adverse claims, the purchase of any tax title and the removal of such prior liens and security interests. Trustor Mortgagor shall, on demand, reimburse Trustee Mortgagee and Beneficiary Lenders for all reasonable expenses (including reasonable attorneys' fees and disbursements) incurred by either of them Mortgagee and Lenders in connection with the foregoing matters, and the party incurring such expenses shall be subrogated to all rights of the person receiving such payment. All such costs and expenses of Trustee and/or BeneficiaryMortgagee and Lenders, until reimbursed by TrustorMortgagor, shall be part of the Secured Obligations and shall bear interest from the date of advance at the Default Rate (as defined in the Note) and shall be deemed to be secured by this Deed of TrustMortgage. Section 1.8.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Central Vermont Public Service Corp)

Defense of Title and Litigation. If the lien, security interest, validity, enforceability or priority of this Deed of TrustMortgage, or if title or any of the rights of Trustee and/or Beneficiary Mortgagor or Mortgagee in or to the Mortgaged Property, shall be endangeredendangered or questioned, or shall be attacked directly or indirectly, or if any action or proceeding is instituted against Trustor Mortgagor or Trustee and/or Beneficiary Mortgagee with respect thereto, Trustor Mortgagor will promptly notify Trustee and Beneficiary thereof Mortgagee thereof, in writing, and will diligently endeavor to cure any defect which may be developed or claimed, and will take all necessary and proper steps for the defense of such action or proceeding, including the employment of counselcounsel and other experts, the prosecution or defense of litigation and, subject to Beneficiary’s Mortgagee's approval, the compromise, release or discharge of any and all adverse claims. Trustee and/or Beneficiary Mortgagee (whether or not named as a party to such actions or proceedings) are is hereby authorized and empowered (but shall not be obligated) to take such additional steps as they it may deem necessary or proper for the defense of any such action or proceeding or the protection of the lien, security interest, validity, enforceability or priority of this Deed of Trust Mortgage or of such title or rights, including the employment of counselcounsel and other experts, the prosecution or defense of litigation, the compromise, release or discharge of such adverse claims, the purchase of any tax title and the removal of such prior liens and security interests. Trustor Mortgagor shall, on demand, promptly reimburse Trustee and Beneficiary Mortgagee for all reasonable expenses (including reasonable attorneys' fees and disbursements) incurred by either of them it in connection with the foregoing matters, and the party incurring such expenses shall be subrogated to all rights of the person receiving such payment. All such costs and expenses of Trustee and/or BeneficiaryMortgagee, until reimbursed by TrustorMortgagor, shall be part of the Obligations obligations and shall bear interest from the date of advance at the Default Rate (as defined in the Note) be and shall be deemed to be secured by this Deed of TrustMortgage.

Appears in 1 contract

Samples: Security Agreement

Defense of Title and Litigation. If the lien, security interest, validity, enforceability or priority of this Deed of Trustany Security Instrument, or if title or any of the rights of Trustee and/or Beneficiary Borrower or Lender in or to the Mortgaged Property, shall be endangeredendangered or questioned, or shall be attacked directly or indirectly, or if any action or proceeding is instituted against Trustor Borrower or Trustee and/or Beneficiary Lender with respect thereto, Trustor Borrower will promptly notify Trustee and Beneficiary Lender thereof and will diligently endeavor use commercially reasonable efforts to cure any defect which may be developed or claimed, and will take all necessary and proper steps for the defense of such action or proceeding, including including, without limitation, the employment of counsel, the making of a demand for such defense under Borrower's title insurance policy, the prosecution or defense of litigation and, subject to Beneficiary’s Lender's prior written approval, the compromise, release or discharge of any and all adverse claims. Trustee and/or Beneficiary Lender (whether or not named as a party to such actions or proceedings) are is hereby authorized and empowered (but shall not be obligated) to take such additional steps as they it may deem necessary or proper for the defense of any such action or proceeding or for the protection of the lien, security interest, validity, enforceability or priority of this Deed of Trust the Security Instrument or of such title or rights, including the employment of counsel, the prosecution or defense of litigation, the compromise, release or discharge of such adverse claims, the purchase of any tax title and the removal of such prior liens and security interests. Trustor Borrower shall, on demand, pay or reimburse Trustee and Beneficiary Lender for all reasonable documented expenses (including reasonable attorneys' fees and disbursements) actually incurred by either of them it in connection with the foregoing matters, and the party incurring such expenses shall be subrogated to all rights of the person receiving such payment. All such costs and expenses of Trustee and/or BeneficiaryLender, until paid or reimbursed by TrustorBorrower, shall be part of the Obligations and shall bear interest from the date of advance at the Default Rate (as defined in the Note) be and shall be deemed to be secured by the Security Instruments. It is further agreed that Borrower hereby appoints Lender as its attorney-in-fact with respect to matters arising under this Deed Section 2.1(e), which appointment is irrevocable and shall be deemed to be coupled with an interest, with respect to the taking of Trustsuch steps as may be necessary or proper in the sole discretion of Lender with respect to the matters referred to in this Section 2.1(e).

Appears in 1 contract

Samples: Loan Agreement (Global Self Storage, Inc.)

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Defense of Title and Litigation. If the lien, security interest, validity, enforceability or priority of this Deed of TrustSecurity Instrument, or if title or any of the rights of Trustee and/or Beneficiary Borrower or Lender in or to the Mortgaged Property, shall be endangeredendangered or questioned, or shall be attacked directly or indirectly, or if any action or proceeding is instituted against Trustor Borrower or Trustee and/or Beneficiary Lender with respect thereto, Trustor Borrower will promptly notify Trustee and Beneficiary Lender thereof and will diligently endeavor to cure any defect which may be developed or claimed, and will take all necessary and proper steps for the defense of such action or proceeding, including including, without limitation, the employment of counsel, the making of a demand for such defense under Borrower’s title insurance policy, the prosecution or defense of litigation and, subject to BeneficiaryLender’s prior written approval, the compromise, release or discharge of any and all adverse claims. Trustee and/or Beneficiary Lender (whether or not named as a party to such actions or proceedings) are is hereby authorized and empowered (but shall not be obligated) to take such additional steps as they it may deem necessary or proper for the defense of any such action or proceeding or for the protection of the lien, security interest, validity, enforceability or priority of this Deed of Trust Security Instrument or of such title or rights, including the employment of counsel, the prosecution or defense of litigation, the compromise, release or discharge of such adverse claims, the purchase of any tax title and the removal of such prior liens and security interests. Trustor Borrower shall, on demand, pay or reimburse Trustee and Beneficiary Lender for all reasonable expenses (including reasonable attorneys’ fees and disbursements) incurred by either of them it in connection with the foregoing matters, and the party incurring such expenses shall be subrogated to all rights of the person receiving such payment. All such costs and expenses of Trustee and/or BeneficiaryLender, until paid or reimbursed by TrustorBorrower, shall be part of the Obligations and shall bear interest from the date of advance at the Default Rate (as defined in the Note) be and shall be deemed to be secured by this Deed Security Instrument. It is further agreed that Borrower hereby appoints Lender as its attorney-in-fact, which appointment is irrevocable and shall be deemed to be coupled with an interest, with respect to the taking of Trustsuch steps as may be necessary or proper in the reasonable discretion of Lender with respect to the matters referred to in this Section 2.1(e).

Appears in 1 contract

Samples: And Security Agreement (Strategic Student & Senior Housing Trust, Inc.)

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