Common use of Maintenance of the Property Clause in Contracts

Maintenance of the Property. Trustor shall cause the Property to be --------------------------- maintained in good condition and repair and will not commit or suffer to be committed any waste of the Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment), without the consent of Beneficiary. Trustor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Property, or any portion thereof or the use thereof. Trustor shall promptly repair, replace or rebuild all or any part of the Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi-public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, Trustor's obligation to repair, replace or rebuild such portion of the Property shall be contingent upon Beneficiary paying Trustor the proceeds of the Policies, or such portion thereof as shall be sufficient to complete such repair, replacement or rebuilding, whichever is less. Trustor will not, without obtaining the prior consent of Beneficiary, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Property or any part thereof.

Appears in 5 contracts

Samples: Sizzler International Inc, Sizzler International Inc, Sizzler International Inc

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Maintenance of the Property. Trustor shall cause the Property to be --------------------------- maintained in good condition and repair and will not commit or suffer to be committed any waste of the Property. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment), without the consent of Beneficiary. Trustor shall promptly comply with all existing and future governmental laws, orders, ordinances, rules and regulations affecting the Property, or any portion thereof or the use thereof. Trustor shall promptly repair, replace or rebuild all or any part of the Property which may be damaged or destroyed by fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi-public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) or which may be affected by any taking by any public or quasi-public authority through eminent domain or otherwise, and shall complete and pay for, within a reasonable time, any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, Trustor's obligation to repair, replace or rebuild such portion of the Property shall be contingent upon Beneficiary paying Trustor the proceeds of the Policies, or such portion thereof as shall be sufficient to complete such repair, replacement or rebuilding, whichever is less. Trustor will not, without obtaining the prior consent of Beneficiary, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Property or any part thereof.

Appears in 1 contract

Samples: Sizzler International Inc

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Maintenance of the Property. Trustor Borrower shall cause the Property to be --------------------------- operated and maintained in a good and safe condition and repair and will in keeping with the condition and repair of properties of a similar use, value, age, nature and construction. Borrower shall not commit use, maintain or suffer to be committed operate the Property in any waste of manner which constitutes a public or private nuisance or which makes void, voidable, or cancelable, or increases the Propertypremium of, any insurance then in force with respect thereto. The Except as otherwise set forth in Section 10(b) hereof, the Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment), ) without the consent of BeneficiaryLender. Trustor Borrower shall promptly comply with all existing and future governmental laws, orders, ordinances, rules orders and regulations ordinances affecting the Property, or any portion thereof or the use thereof. Trustor Borrower shall give prompt notice to Lender of the receipt by Borrower of any notice related to a violation of any legal requirements and of the commencement of any proceedings or investigations which relate to the compliance with legal requirements. Subject to the provisions of Section 3(e) and Section 3(f) of this Mortgage, Borrower shall promptly repair, replace or rebuild all or any part of the Property which may be damaged or destroyed by fire any casualty, or other property hazard become damaged, worn or casualty (including any fire or other property hazard or casualty for which insurance was not obtained or obtainable) dilapidated or which may be affected by any taking by any public or quasi-public authority through eminent domain or otherwise, proceeding of the character referred to in Section 7 hereof and shall complete and pay for, within a reasonable time, for any structure at any time in the process of construction or repair on the Premises. If such fire or other property hazard or casualty shall be covered by the Policies, Trustor's obligation to repair, replace or rebuild such portion of the Property shall be contingent upon Beneficiary paying Trustor the proceeds of the Policies, or such portion thereof as shall be sufficient to complete such repair, replacement or rebuilding, whichever is less. Trustor will not, without obtaining the prior consent of Beneficiary, initiate, join in or consent to any private restrictive covenant, zoning ordinance, or other public or private restrictions, limiting or affecting the uses which may be made of the Property or any part thereof.

Appears in 1 contract

Samples: Ramco Gershenson Properties Trust

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