Common use of Defense of Title Clause in Contracts

Defense of Title. If, while this Mortgage is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is not adequately performing its obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 7 contracts

Samples: Security Agreement and Fixture Filing (Mack Cali Realty Corp), Security Agreement and Fixture Filing (Mack Cali Realty Corp), Mortgage, Security Agreement and Fixture Filing (Acadia Realty Trust)

AutoNDA by SimpleDocs

Defense of Title. If, while this Mortgage Deed of Trust is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is not adequately performing its obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 4 contracts

Samples: , Security Agreement and Fixture Filing (Campus Crest Communities, Inc.), Security Agreement and Fixture Filing (NNN Apartment REIT, Inc.), Management Agreement (Campus Crest Communities, Inc.)

Defense of Title. If, while this Mortgage Security Deed is in force, the title to the Property or the interest of Lender Grantee therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerGrantor, at Borrower’s Grantor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by LenderGrantee, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender Grantee determines that Borrower Grantor is not adequately performing its obligations under this Section, Lender Grantee may, without limiting or waiving any other rights or remedies of Lender Grantee hereunder, take such steps steps, with respect thereto as Lender Grantee shall deem necessary or proper and any and all costs and expenses incurred by Lender Grantee in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Grantee until actually paid by BorrowerGrantor, shall be immediately paid by Borrower Grantor on demand and shall be secured by this Mortgage Security Deed and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 4 contracts

Samples: Record And (Merry Land Properties Inc), Record And (Merry Land Properties Inc), Record And (Merry Land Properties Inc)

Defense of Title. If, while this Mortgage Deed of Trust is in force, the title to the Real Property or the interest of Lender therein Beneficiary in the Trust Property shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any mannermanner except for the Permitted Encumbrances, BorrowerGrantor, at Borrower’s Grantor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel reasonably approved by LenderBeneficiary, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower if an Event of Default has occurred and is not adequately performing its obligations continuing under this Section, Lender Beneficiary may, without limiting or waiving any other rights or remedies of Lender Beneficiary hereunder, take such steps with respect thereto as Lender Beneficiary shall deem necessary or proper and any and all costs and expenses incurred by Lender Beneficiary in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Beneficiary until actually paid by BorrowerGrantor, shall be immediately paid by Borrower Grantor on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 3 contracts

Samples: Trust and Security Agreement (Cornerstone Realty Income Trust Inc), Trust, Security Agreement and Fixture Filing (Apple Suites Inc), Trust and Security Agreement (Cornerstone Realty Income Trust Inc)

Defense of Title. If, while this Mortgage Security Deed is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached attacked directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s 's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel reasonably approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender reasonably determines that Borrower is not adequately performing its obligations under this Section, Lender shall provide Borrower written notice of such determination, and if Lender reasonably determines that Borrower is still not adequately performing its obligations under this Section within thirty (30) days after its receipt of such notice, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and proper; any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Security Deed and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the NoteNotes.

Appears in 2 contracts

Samples: Debt and Security Agreement (Sun Communities Inc), Secure Debt and Security Agreement (Sun Communities Inc)

Defense of Title. If, while this Mortgage the Loan is in forceoutstanding, the title to the Property Project or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law Law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is not adequately performing its obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage the Security Instrument and by all of the other Loan Documents securing all or any part of the indebtedness Indebtedness evidenced by the Note.

Appears in 2 contracts

Samples: Loan Agreement (Trade Street Residential, Inc.), Loan Agreement (Trade Street Residential, Inc.)

Defense of Title. If, while this Mortgage Security Deed is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is not adequately performing its obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Security Deed and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Campus Crest Communities, Inc.), Debt, Security Agreement and Fixture Filing (NNN Healthcare/Office REIT, Inc.)

Defense of Title. If, while this Mortgage any Debenture is in force, any of the title to the Property Individual Properties or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerBorrowers, at Borrower’s Borrowers’ expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is Borrowers are not adequately performing its their obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by BorrowerBorrowers, shall be immediately paid by Borrower Borrowers on demand and shall be secured by this Mortgage the Debentures and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Loan Agreement (CNL Income Properties Inc)

Defense of Title. If, while this Mortgage Deed of Trust is in force, the title to the Mortgaged Property or the interest of Lender Beneficiary therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerTrustor, at Borrower’s Trustor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lenderreasonably satisfactory to Beneficiary, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender Beneficiary determines that Borrower Trustor is not adequately performing its obligations under this Section, Lender Beneficiary may, without limiting or waiving any other rights or remedies of Lender Beneficiary hereunder, take such steps with respect thereto as Lender Beneficiary shall deem necessary or proper and any and all reasonable costs and expenses incurred by Lender Beneficiary in connection therewith, together with interest thereon at the Default Interest Note Rate (as defined in the Note) from the date incurred by Lender Beneficiary until actually paid by BorrowerTrustor, shall be immediately paid by Borrower Trustor on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Innkeepers Usa Trust/Fl

Defense of Title. If, while this Mortgage is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is not adequately performing its obligations under this Section, upon not less than five (5) business days prior notice, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Mortgage, Security Agreement and Fixture Filing (Industrial Income Trust Inc.)

Defense of Title. If, while this Mortgage Deed of Trust is in force, the title ---------------- to the Property or the interest of Lender Beneficiary therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerGrantor, at Borrower’s Grantor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by LenderBeneficiary, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender Beneficiary determines that Borrower Grantor is not adequately performing its obligations under this Section, Lender Beneficiary may, without limiting or waiving any other rights or remedies of Lender Beneficiary hereunder, take such steps with respect thereto as Lender Beneficiary shall deem necessary or proper and any and all costs and expenses incurred by Lender Beneficiary in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Beneficiary until actually paid by BorrowerGrantor, shall be immediately paid by Borrower Grantor on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Nei Webworld Inc)

Defense of Title. If, while this Mortgage Deed of Trust is in force, the ---------------- title to the Real Property or the interest of Lender therein Beneficiary in the Trust Property shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any mannermanner except for the Permitted Encumbrances, BorrowerGrantor, at Borrower’s Grantor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel reasonably approved by LenderBeneficiary, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower if an Event of Default has occurred and is not adequately performing its obligations continuing under this Section, Lender Beneficiary may, without limiting or waiving any other rights or remedies of Lender Beneficiary hereunder, take such steps with respect thereto as Lender Beneficiary shall deem necessary or proper and any and all costs and expenses incurred by Lender Beneficiary in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Beneficiary until actually paid by BorrowerGrantor, shall be immediately paid by Borrower Grantor on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Cornerstone Realty Income Trust Inc)

Defense of Title. If, while this Mortgage is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is not adequately performing its obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and proper; any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by BorrowerRate, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Notedemand.

Appears in 1 contract

Samples: And Security Agreement (Gsi Commerce Inc)

Defense of Title. If, while this Mortgage Deed of Trust is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by LenderLxxxxx, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is not adequately performing its obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Lxxxxx until actually paid by BorrowerBxxxxxxx, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Security Agreement and Fixture (NNN Apartment REIT, Inc.)

AutoNDA by SimpleDocs

Defense of Title. If, while this Mortgage Security Instrument is in force, the title to the Property or the interest of Lender Beneficiary therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached attacked directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerGrantor, at Borrower’s Grantor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel reasonably approved by LenderBeneficiary, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender Beneficiary reasonably determines that Borrower Grantor is not adequately performing its obligations under this Section, Lender Beneficiary may, without limiting or waiving any other rights or remedies of Lender Beneficiary hereunder, take such steps with respect thereto as Lender Beneficiary shall deem necessary or proper and proper; any and all costs and expenses incurred by Lender Beneficiary in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Beneficiary until actually paid by BorrowerGrantor, shall be immediately paid by Borrower Grantor on demand and shall be secured by this Mortgage Security Instrument and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Cornerstone Growth & Income REIT, Inc.)

Defense of Title. If, while this Mortgage the Loan is in forceoutstanding, the title to the Property Project or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law Law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s 's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender determines that Borrower is not adequately performing its obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage the Security Instrument and by all of the other Loan Documents securing all or any part of the indebtedness Indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Loan Agreement (Trade Street Residential, Inc.)

Defense of Title. If, while this Mortgage Deed of Trust is in force, the title to the Property or the interest of Lender Beneficiary therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerTrustor, at BorrowerTrustor’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by LenderBeneficiary, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender Beneficiary determines that Borrower Trustor is not adequately performing its obligations under this Section, Lender Beneficiary may, without limiting or waiving any other rights or remedies of Lender Beneficiary hereunder, take such steps steps, with respect thereto as Lender Beneficiary shall deem necessary or proper and any and all costs and expenses incurred by Lender Beneficiary in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Beneficiary until actually paid by BorrowerTrustor, shall be immediately paid by Borrower Trustor on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the NoteSecured Obligations.

Appears in 1 contract

Samples: Indemnity and Guaranty Agreement (Catellus Development Corp)

Defense of Title. If, while this Mortgage Security Instrument is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached attacked directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel reasonably approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender reasonably determines that Borrower is not adequately performing its obligations under this Section, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and proper; any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Security Instrument and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Cornerstone Core Properties REIT, Inc.)

Defense of Title. If, while this Mortgage Security Deed is in force, the title to the Property or the interest of Lender Grantee therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerGrantor, at Borrower’s Grantor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by LenderGrantee, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender Grantee determines that Borrower Grantor is not adequately performing its obligations under this Section, Lender Grantee may, without limiting or waiving any other rights or remedies of Lender Grantee hereunder, take such steps steps, with respect thereto as Lender Grantee shall deem necessary or proper and any and all costs and expenses incurred by Lender Grantee in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Grantee until actually paid by BorrowerXxxxxxx, shall be immediately paid by Borrower Grantor on demand and shall be secured by this Mortgage Security Deed and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Record And (Merry Land Capital Trust)

Defense of Title. If, while this Mortgage Deed of Trust is in force, the title to the Property or the interest of Lender therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached attacked directly or indirectly, or endangered, clouded or adversely affected in any manner, Borrower, at Borrower’s 's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel reasonably approved by Lender, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender reasonably determines that Borrower is not adequately performing its obligations under this Section, Lender shall provide Borrower written notice of such determination, and if Lender reasonably determines that Borrower is still not adequately performing its obligations under this Section within thirty (30) days after its receipt of such notice, Lender may, without limiting or waiving any other rights or remedies of Lender hereunder, take such steps with respect thereto as Lender shall deem necessary or proper and proper; any and all costs and expenses incurred by Lender in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender until actually paid by Borrower, shall be immediately paid by Borrower on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the NoteNotes.

Appears in 1 contract

Samples: Sun Communities Inc

Defense of Title. If, while this Mortgage Instrument is in force, the title to the Property or the interest of Lender Beneficiary and Trustee therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerTrustor, at Borrower’s Trustor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel reasonably approved by LenderBeneficiary, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender Beneficiary reasonably determines that Borrower Trustor is not adequately performing its obligations under this Section, Lender Beneficiary may, without limiting or waiving any other rights or remedies of Lender Beneficiary hereunder, take such steps with respect thereto as Lender Beneficiary shall deem necessary or proper and any and all costs and expenses incurred by Lender Beneficiary in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Beneficiary until actually paid by BorrowerTrustor, shall be immediately paid by Borrower Trustor on demand and shall be secured by this Mortgage Instrument and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Loan Agreement (E Trade Group Inc)

Defense of Title. If, while this Mortgage Deed of Trust is in force, the title to the Property or the interest of Lender Beneficiary therein shall be the subject, directly or indirectly, of any action at law or in equity, or be attached directly or indirectly, or endangered, clouded or adversely affected in any manner, BorrowerGrantor, at Borrower’s Grantor's expense, shall take all necessary and proper steps for the defense of said title or interest, including the employment of counsel approved by LenderBeneficiary, the prosecution or defense of litigation, and the compromise or discharge of claims made against said title or interest. Notwithstanding the foregoing, in the event that Lender Beneficiary determines that Borrower Grantor is not adequately performing its obligations under this Section, Lender Beneficiary may, without limiting or waiving any other rights or remedies of Lender Beneficiary hereunder, take such steps with respect thereto as Lender Beneficiary shall deem necessary or proper and proper; any and all costs and expenses incurred by Lender Beneficiary in connection therewith, together with interest thereon at the Default Interest Rate (as defined in the Note) from the date incurred by Lender Beneficiary until actually paid by BorrowerGrantor, shall be immediately paid by Borrower Grantor on demand and shall be secured by this Mortgage Deed of Trust and by all of the other Loan Documents securing all or any part of the indebtedness evidenced by the Note.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Inland Diversified Real Estate Trust, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.