Common use of Exercising your powers Clause in Contracts

Exercising your powers. If the mortgage goes into default, we can exercise all the powers of an owner of anything covered by our security, and you're bound by our actions. These powers include the following:  Managing and operating the property.  Doing or completing work.  Taking legal proceedings relating to the property.

Exercising your powers. If the mortgage goes into default, we can exercise all the powers of an owner of anything covered by our security, and you're bound by our actions. These powers include the following:  • Managing and operating the property.  • Doing or completing work.  • Taking legal proceedings relating to the property.