Common use of Failure to Repair Clause in Contracts

Failure to Repair. If Grantor shall neglect or refuse to keep the Mortgaged Premises and Chattel Property in good repair, to maintain and pay the premiums for insurance, to pay and discharge all taxes, assessments and charges of every kind assessed against the Mortgaged Premises or Chattel Property, to pay in full all valid claims of contractors, subcontractors, materialmen, laborers or suppliers which if not paid, may reasonably result in the filing of a mechanic's or materialman's lien upon the Mortgaged Premises, to fully and timely pay and perform all obligations under the Prior Mortgage, or default in any other of its covenants, all as provided for under the Note and this Deed of Trust, Grantee may, at its option, cause such repairs to be made, obtain such insurance, pay such taxes, assessments and charges, pay said valid claims, or perform said covenants of Grantor, and any amounts paid as a result thereof, together with interest thereon from date of payment as specified by Grantee at (i) the highest post‑maturity rate provided for in any document evidencing the Obligations, or (ii) if none is so provided for, the then highest lawful contract rate of interest ("Default Rate") shall be immediately due and payable by Grantor to Grantee, and until paid shall be added to and become a part of the Obligations and shall be secured hereby, and shall be a lien on the Mortgaged Premises prior to any right, title or interest claimed upon the Mortgaged Premises subordinate to the lien of this Deed of Trust. Any such payments by Grantee shall not be deemed to relieve Grantor from any default hereunder, the exercise by Grantee of the right to make such payments shall be optional with Grantee, and Grantee shall not in any case be liable to Grantor for failure to exercise any such right. In addition to the rights set forth above, if at any time Grantee, in Grantee's sole discretion, desires that the amount required to be paid for premiums for insurance and taxes, assessments and similar charges be escrowed, Grantor shall immediately deposit that amount required by Grantee in such escrow account as Grantee shall so designate; provided, however, that such escrow account shall not be a trust account nor an interest bearing account.

Failure to Repair. If Grantor shall neglect or refuse In the event that Tenant fails after reasonable prior written notice from Landlord, to keep the Mortgaged Premises in a good state of condition and Chattel Property repair pursuant to Section 11 above, or to do any act or make any payment required under this Lease or otherwise fails to comply herewith, Landlord may, at its option (but without being obliged to do so) immediately, or at any time thereafter and without notice, perform the same for the account of Tenant, including the right to enter upon the Premises at all reasonable hours to make such repairs, or do any act or make any payment or compliance which Tenant has failed to do, and upon demand, Tenant shall reimburse Landlord for any such expense incurred by Landlord including but not limited to any costs, damages and reasonable counsel fees. Any moneys expended by Landlord, as aforesaid, shall be deemed additional rent, collectible as such by Landlord. All rights given to Landlord in good repair, this Section shall be in addition to maintain and pay the premiums for insurance, to pay and discharge all taxes, assessments and charges any other right or remedy of every kind assessed against the Mortgaged Premises Landlord herein contained. If at any time or Chattel Property, to pay times Landlord shall be in full all valid claims of contractors, subcontractors, materialmen, laborers or suppliers which if not paid, may reasonably result default in the filing performance or observance of a mechanic's or materialman's lien upon the Mortgaged Premises, to fully and timely pay and perform all obligations under the Prior Mortgage, or default in any other of its covenants, all agreements or undertakings provided in this Lease, and if Landlord shall not cure or remedy such default within thirty (30) days after Tenant gives written notice thereof (or such shorter timeframe as provided is reasonable in the event of an emergency) to Landlord, or, if such default cannot reasonably be cured and remedied within thirty (30) days, if Landlord shall not commence in good faith to cure and remedy such default within thirty (30) days after receipt of such notice from Tenant and continue with due diligence until such default is cured and remedied, then Tenant shall provide Landlord with written notice notifying Landlord of the failed obligation, which notice shall set forth in bold type “If Landlord shall fail to commence cure within five (5) business days after receipt of this notice, Tenant shall pursuant to the terms of the Lease, be permitted to commence and complete such cure on Landlord’s behalf and charge Landlord for under the Note such cure.” Such notice shall set forth Tenant’s intended action, which such action shall be only that action which in Tenant’s good faith judgment is reasonably appropriate to cure and this Deed of Trustremedy such default by Landlord. If Landlord shall thereafter fail to commence such cure, Grantee Tenant may, at its optiontake such action as is indicated in the second notice required above, cause such repairs to be madeand Landlord shall, obtain such insurancewithin thirty (30) days after receipt of demand therefor, pay to Tenant an amount equal to all reasonable costs and expenses incurred by Tenant in so curing and remedying such taxesdefault. If Landlord fails to pay Tenant within the 30-day period, assessments and charges, pay said valid claims, or perform said covenants of Grantor, and any amounts paid as a result thereof, together with interest thereon from date of payment as specified by Grantee at (i) the highest post‑maturity rate provided for in any document evidencing the Obligations, or (ii) if none is so provided for, the then highest lawful contract rate of interest ("Default Rate") Tenant shall be immediately due and payable by Grantor permitted to Grantee, and until paid shall be added to and become a part of the Obligations and shall be secured hereby, and shall be a lien on the Mortgaged Premises prior to any right, title or interest claimed upon the Mortgaged Premises subordinate to the lien of this Deed of Trust. Any such payments by Grantee shall not be deemed to relieve Grantor from any default hereunder, the exercise by Grantee of the right to make such payments shall be optional with Grantee, and Grantee shall not in any case be liable to Grantor for failure to exercise any such right. In addition to the rights set forth above, if at any time Grantee, in Grantee's sole discretion, desires that offset the amount required to be paid for premiums for insurance and taxes, assessments and similar charges be escrowed, Grantor shall immediately deposit that amount required by Grantee due against Base Rent after obtain a judgment in such escrow account as Grantee shall so designate; provided, however, that such escrow account shall not be a trust account nor its favor from an interest bearing accountadjudicatory body.

Failure to Repair. If Grantor shall neglect or refuse In the event that Tenant fails after reasonable prior written notice from Landlord, to keep the Mortgaged Premises in a good state of condition and Chattel Property repair pursuant to Section 11 above, or to do any act or make any payment required under this Lease or otherwise fails to comply herewith, Landlord may, at its option (but without being obliged to do so) immediately, or at any time thereafter and without notice, perform the same for the account of Tenant, including the right to enter upon the Premises at all reasonable hours to make such repairs, or do any act or make any payment or compliance which Tenant has failed to do, and upon demand, Tenant shall reimburse Landlord for any such expense incurred by Landlord including but not limited to any costs, damages and reasonable counsel fees. Any moneys expended by Landlord, as aforesaid, shall be deemed additional rent, collectible as such by Landlord. All rights given to Landlord in good repair, this Section shall be in addition to maintain and pay the premiums for insurance, to pay and discharge all taxes, assessments and charges any other right or remedy of every kind assessed against the Mortgaged Premises Landlord herein contained. If at any time or Chattel Property, to pay times Landlord shall be in full all valid claims of contractors, subcontractors, materialmen, laborers or suppliers which if not paid, may reasonably result default in the filing performance or observance of a mechanic's or materialman's lien upon the Mortgaged Premises, to fully and timely pay and perform all obligations under the Prior Mortgage, or default in any other of its covenants, all agreements or undertakings provided in this Lease, and if Landlord shall not cure or remedy such default within thirty (30) days after Tenant gives written notice thereof (or such shorter timeframe as provided is reasonable in the event of an emergency) to Landlord, or, if such default cannot reasonably be cured and remedied within thirty (30) days, if Landlord shall not commence in good faith to cure and remedy such default within thirty (30) days after receipt of such notice from Tenant and continue with due diligence until such default is cured and remedied, then Tenant shall provide Landlord with written notice notifying Landlord of the failed obligation, which notice shall set forth in bold type “If Landlord shall fail to commence cure within five (5) business days after receipt of this notice, Tenant shall pursuant to the terms of the Lease, be permitted to commence and complete such cure on Landlord’s behalf and charge Landlord for under the Note such cure.” Such notice shall set forth Tenant’s intended action, which such action shall be only that action which in Tenant’s good faith judgment is reasonably appropriate to cure and this Deed of Trustremedy such default by Landlord. If Landlord shall thereafter fail to commence such cure, Grantee Tenant may, at its optiontake such action as is indicated in the second notice required above, cause such repairs to be madeand Landlord shall, obtain such insurancewithin forty-five (45) days after receipt of demand therefor, pay to Tenant an amount equal to all reasonable costs and expenses incurred by Tenant in so curing and remedying such taxesdefault. If Landlord fails to pay Tenant within the 45-day period, assessments and charges, pay said valid claims, or perform said covenants of Grantor, and any amounts paid as a result thereof, together with interest thereon from date of payment as specified by Grantee at (i) the highest post‑maturity rate provided for in any document evidencing the Obligations, or (ii) if none is so provided for, the then highest lawful contract rate of interest ("Default Rate") Tenant shall only be immediately due and payable by Grantor permitted to Grantee, and until paid shall be added to and become a part of the Obligations and shall be secured hereby, and shall be a lien on the Mortgaged Premises prior to any right, title or interest claimed upon the Mortgaged Premises subordinate to the lien of this Deed of Trust. Any such payments by Grantee shall not be deemed to relieve Grantor from any default hereunder, the exercise by Grantee of the right to make such payments shall be optional with Grantee, and Grantee shall not in any case be liable to Grantor for failure to exercise any such right. In addition to the rights set forth above, if at any time Grantee, in Grantee's sole discretion, desires that offset the amount required to be paid for premiums for insurance and taxesdue against Base Rent after obtaining a final, assessments and similar charges be escrowed, Grantor shall immediately deposit that amount required by Grantee unappealable decision in such escrow account as Grantee shall so designate; provided, however, that such escrow account shall not be a trust account nor its favor from an interest bearing accountadjudicatory body.