Common use of Protection of Security; Costs and Expenses Clause in Contracts

Protection of Security; Costs and Expenses. Borrower shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder and shall pay all costs and expenses actually incurred by Lender, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements, in any such action or proceeding, and in any suit brought by Lender to foreclose this Security Instrument or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of Default. If an Event of Default occurs and is continuing under this Security Instrument or the Note, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereof, including, without limitation, eminent domain, enforcement of, or proceedings of any nature whatsoever under any laws or other legal requirement affecting the Property or involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then Lender, upon reasonable notice to Borrower, may, but without obligation to do so and without releasing Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender appears to be prior or superior hereto.

Appears in 5 contracts

Samples: Deed of Trust, Security Agreement (Shelbourne Properties Ii Inc), Deed of Trust, Security Agreement (Shelbourne Properties Ii Inc), Deed of Trust, Security Agreement (Shelbourne Properties Ii Inc)

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Protection of Security; Costs and Expenses. Borrower Trustor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Trustor further agrees that it will execute such additional documents or amendments to this Deed of Trust, the Note or the Related Agreements as Beneficiary may reasonably request to insure that such documents reflect the party’s agreement with regard to the business terms agreed upon by the parties hereto. Trustor shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder the Beneficiary or Trustee, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursementsfees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Trustor fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or LenderBeneficiary's interest in the Mortgaged Property or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lender, upon reasonable notice to Borrower, Beneficiary or Trustee may, but without obligation to do so and without notice to or demand upon Trustor and without releasing Borrower Trustor from any obligation hereunder, make such appearances, commence, defend or appear in any such action or proceeding affecting the Mortgaged Property, pay, contest or compromise any encumbrance, charge or lien which affects the Mortgaged Property, disburse such reasonable sums and take such action as Lender reasonably Beneficiary or Trustee deems necessary or appropriate to protect LenderBeneficiary's interest in the Propertyinterest, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender either Beneficiary or Trustee appears to be prior or superior hereto. Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Note or any Future Advances, whether by judicial or nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Trustor, or otherwise. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Trustor secured by this Deed of Trust and each of the Related Agreements as of the date of disbursement and shall bear interest at the rate set forth in the Note. All such amounts shall be payable by Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 4 contracts

Samples: Agreement and Fixture Filing (Redwood Mortgage Investors IX), Agreement and Fixture Filing (Redwood Mortgage Investors IX), Agreement and Fixture Filing (Redwood Mortgage Investors IX)

Protection of Security; Costs and Expenses. Borrower shall appear in and defend any action or proceeding of which it has notice purporting (A) In addition to affect the security hereof or the rights or powers of Lender hereunder and shall pay all costs and expenses actually incurred by Lender, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements, in any such action or proceeding, and in any suit brought by Lender to foreclose this Security Instrument or to enforce or establish any other rights or remedies of Lender hereunder Mortgagee hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuance of an Event of Default. If an Event Default (or prior thereto after notice to Mortgagor, when possible, if Mortgagor is not paying or performing the act itself and Mortgagee determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of Default occurs and is continuing under this Security Instrument Mortgage or any other collateral securing the indebtedness evidenced by the Note, either before or if after acceleration of the indebtedness) Mortgagee may, but shall not be required to, make any action payment or proceeding is commenced perform any act required to be performed by Mortgagor hereunder or under any of the Related Agreements in which it becomes necessary any form and manner deemed expedient to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereofMortgagee, including, without limitation, eminent domainif applicable: (1) paying any Impositions which remain unpaid; (2) procuring the release, enforcement ofdischarge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Mortgagor in accordance with the provisions of this Mortgage or any of the Related Agreements, and (3) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Mortgagor had obtained the same has not been delivered to Mortgagee as required hereunder. Nothing herein shall be construed to require Mortgagee to advance or expend monies for any purpose mentioned herein, or proceedings of for any nature whatsoever under any laws or other legal requirement affecting the Property or involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then Lender, upon reasonable notice to Borrower, may, but without obligation to do so and without releasing Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender appears to be prior or superior heretopurpose.

Appears in 3 contracts

Samples: Security Agreement and Fixture Filing (Inland American Real Estate Trust, Inc.), Inland Western Retail Real Estate Trust Inc, Inland Western Retail Real Estate Trust Inc

Protection of Security; Costs and Expenses. Borrower Trustor shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder the Beneficiary or Trustee, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, including without limitation, limitation cost of evidence of title and reasonable attorneys' fees and disbursements’ fees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Trustor fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's Beneficiary’s interest in the Mortgaged Property or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lender, upon reasonable notice to Borrower, Beneficiary or Trustee may, but without obligation to do so and without notice to or demand upon Trustor and without releasing Borrower Trustor from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably Beneficiary or Trustee deems necessary or appropriate to protect Lender's interest in the PropertyBeneficiary’s interest, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender either Beneficiary or Trustee appears to be prior or superior hereto. Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of amounts due under the P/M Note, whether by judicial or nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Trustor, or otherwise. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section shall be additional indebtedness of Trustor secured by this Deed of Trust as of the date of disbursement and shall bear interest at the rate of ten percent (10%) per annum, or the maximum rate permitted by law, if less. All such amounts shall be payable by Trustor immediately without demand. Nothing contained in this Section shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 2 contracts

Samples: Purchase and Sale Agreement and Escrow Instructions (Limoneira CO), Purchase and Sale Agreement and Escrow Instructions (Limoneira CO)

Protection of Security; Costs and Expenses. Borrower (a) Grantor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Grantor shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder the Beneficiary or Trustee, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, including without limitation, limitation cost of evidence of title and reasonable attorneys' fees and disbursements’ fees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Grantor fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's Beneficiary’s interest in the Mortgaged Property or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, and if Grantor fails to cure any breach within the time period set forth in Article II below, then Lender, upon reasonable notice to Borrower, Beneficiary or Trustee may, but without obligation to do so and without notice to or demand upon Grantor and without releasing Borrower Grantor from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably Beneficiary or Trustee deems necessary or appropriate to protect Lender's interest in the PropertyBeneficiary’s interest, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender either Beneficiary or Trustee appears to be prior or superior hereto.

Appears in 2 contracts

Samples: Subsidiary Stock Pledge Agreement (Quixote Corp), Subsidiary Stock Pledge Agreement (Quixote Corp)

Protection of Security; Costs and Expenses. Borrower Trustor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Trustor further agrees that it will execute such additional documents or amendments to this Deed of Trust, the Note or the Related Agreements as Beneficiary may reasonably request to insure that such documents reflect the party’s agreement with regard to the business terms agreed upon by the parties hereto. Trustor shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder the Beneficiary or Trustee, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements’ fees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Trustor fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's Beneficiary’s interest in the Mortgaged Property or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lender, upon reasonable notice to Borrower, Beneficiary or Trustee may, but without obligation to do so and without notice to or demand upon Trustor and without releasing Borrower Trustor from any obligation hereunder, make such appearances, commence, defend or appear in any such action or proceeding affecting the Mortgaged Property, pay, contest or compromise any encumbrance, charge or lien which affects the Mortgaged Property, disburse such reasonable sums and take such action as Lender reasonably Beneficiary or Trustee deems necessary or appropriate to protect Lender's interest in the PropertyBeneficiary’s interest, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender either Beneficiary or Trustee appears to be prior or superior hereto. Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Note or any Future Advances, whether by judicial or nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Trustor, or otherwise. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Trustor secured by this Deed of Trust and each of the Related Agreements as of the date of disbursement and shall bear interest at the rate set forth in the Note. All such amounts shall be payable by Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 2 contracts

Samples: Agreement and Fixture Filing (Redwood Mortgage Investors IX), Agreement and Fixture Filing (Redwood Mortgage Investors Viii)

Protection of Security; Costs and Expenses. Borrower Trustor agrees that, at any time and from time to time, it will execute and deliver all such further documents and do all such other acts and things as Beneficiary may reasonably request in writing in order to protect the security and priority of the lien created hereby. Trustor shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder the Beneficiary or Trustee, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursementsfees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Trustor fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or LenderBeneficiary's interest in the Mortgaged Property or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lender, upon reasonable notice to Borrower, Beneficiary or Trustee may, but without obligation to do so and without notice to or demand upon Trustor and without releasing Borrower Trustor from any obligation hereunder, make such appearances, commence, defend or appear in any such action or proceeding affecting the Mortgaged Property, pay, contest or compromise any encumbrance, charge or lien which affects the Mortgaged Property, disburse such reasonable sums and take such action as Lender reasonably Beneficiary or Trustee deems necessary or appropriate to protect LenderBeneficiary's interest in the Propertyinterest, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Mortgaged Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender either Beneficiary or Trustee appears to be prior or superior hereto. Trustor further agrees to pay all reasonable expenses of Beneficiary (including fees and disbursements of counsel) incident to the protection of the rights of Beneficiary hereunder, or to enforcement or collection of payment of the Note or any Future Advances, whether by judicial or nonjudicial proceedings, or in connection with any bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding of Trustor, or otherwise. Any amounts disbursed by Beneficiary or Trustee pursuant to this Section 1.12 shall be additional indebtedness of Trustor secured by this Deed of Trust and each of the Related Agreements as of the date of disbursement and shall bear interest at the rate set forth in the Note. All such amounts shall be payable by Trustor immediately without demand. Nothing contained in this Section 1.12 shall be construed to require Beneficiary or Trustee to incur any expense, make any appearance, or take any other action.

Appears in 2 contracts

Samples: Redwood Mortgage Investors Viii, Redwood Mortgage Investors Viii

Protection of Security; Costs and Expenses. Borrower shall appear in and defend any action or proceeding of which it has notice purporting A. In addition to affect the security hereof or the rights or powers of Lender hereunder and shall pay all costs and expenses actually incurred by Lender, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements, in any such action or proceeding, and in any suit brought by Lender to foreclose this Security Instrument or to enforce or establish any other rights or remedies of Lender hereunder Mortgagee hereunder, under any of the Related Agreements, or in law or in equity, upon the occurrence and during the continuance of an Event of Default. If an Event Default (or prior thereto after notice to Mortgagor, when possible, if Mortgagor is not paying or performing the act itself and Mortgagee determines in its sole good faith judgment that the same is appropriate to preserve the Property or the lien of Default occurs and is continuing under this Security Instrument Mortgage or any other collateral securing the indebtedness evidenced by the Note, either before or if after acceleration of the indebtedness) Mortgagee may, but shall not be required to, make any action payment or proceeding is commenced perform any act required to be performed by Mortgagor hereunder or under any of the Related Agreements in which it becomes necessary any form and manner deemed expedient to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereofMortgagee, including, without limitation, eminent domainif applicable: (i) paying any Impositions which remain unpaid; (ii) procuring the release, enforcement ofdischarge, compromise or settlement of any lien filed or otherwise asserted against the Property which has not been discharged by Mortgagor in accordance with the provisions of this Mortgage or any of the Related Agreements; and (iii) obtaining insurance policies where insurance coverage was required to be obtained hereunder and the required evidence that Mortgagor had obtained the same has not been delivered to Mortgagee as required hereunder. Nothing herein shall be construed to require Mortgagee to advance or expend monies for any purpose mentioned herein, or proceedings of for any nature whatsoever under any laws or other legal requirement affecting the Property or involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then Lender, upon reasonable notice to Borrower, may, but without obligation to do so and without releasing Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender appears to be prior or superior heretopurpose.

Appears in 1 contract

Samples: Great Lakes Reit

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Protection of Security; Costs and Expenses. Borrower Grantor shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder Beneficiary, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, including without limitation, limitation cost of evidence of title and reasonable attorneys' fees and disbursementsAttorneys’ Fees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Grantor fails to perform any of Default occurs the covenants or agreements contained in this Deed of Trust within any applicable notice and is continuing under cure periods provided for in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien or priority of this Security Instrument or which adversely affects Lender or Lender's Beneficiary’s interest in the Property Security or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lenderafter compliance with the applicable notice and cure provisions provided for in this Deed of Trust, upon reasonable notice to Borrower, Beneficiary may, but without obligation to do so and without further notice to or demand upon Grantor and without releasing Borrower Grantor from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably Beneficiary deems necessary or appropriate to protect Lender's interest in the PropertyBeneficiary’s interest, including, but not limited to, disbursement of reasonable attorneys' feesAttorneys’ Fees, entry upon the Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender Beneficiary appears to be prior or superior hereto.. Grantor further agrees to pay all reasonable expenses of Beneficiary and Trustee (including without limitation Attorney’s Fees and disbursements)

Appears in 1 contract

Samples: Trust and Security Agreement (Highland Hospitality Corp)

Protection of Security; Costs and Expenses. Borrower shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder and shall pay all costs and expenses actually incurred by Lender, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements, in any such action or proceeding, and in any suit brought by Lender to foreclose this Security Instrument or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of Default. If an Event of Default occurs and is continuing under this Security Instrument or the NoteLoan Agreement, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien Lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereof, including, without limitation, eminent domain, enforcement of, or proceedings of any nature whatsoever under any laws or other legal requirement Legal Requirement affecting the Property or involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then Lender, upon reasonable notice to Borrower, may, but without obligation to do so and without releasing Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender appears to be prior or superior hereto; PROVIDED, HOWEVER, that the foregoing shall be subject to Borrower's rights to contest under SECTION 7.3 of the Loan Agreement of and, provided no Event of Default shall have occurred and is then continuing, Lender shall not pay or discharge any lien, encumbrance or charge being contested by Borrower in accordance with SECTION 7.3 of the Loan Agreement.

Appears in 1 contract

Samples: Combined Fee and Leasehold Mortgage, Security Agreement (Glimcher Realty Trust)

Protection of Security; Costs and Expenses. Borrower shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder and shall pay all reasonable out of pocket costs and expenses actually incurred by Lender, including, without limitation, cost of evidence of title and reasonable attorneys' fees and disbursements, in any such action or proceeding, and in any suit brought by Lender to foreclose this Security Instrument or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of Default. If an Event of Default occurs and is continuing under this Security Instrument or the NoteLoan Agreement, or if any action or proceeding is commenced in which it becomes necessary to defend or uphold the lien Lien or priority of this Security Instrument or which adversely affects Lender or Lender's interest in the Property or any part thereof, including, without limitation, eminent domain, enforcement of, or proceedings of any nature whatsoever under any laws or other legal requirement Legal Requirement affecting the Property or involving Borrower's bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, then Lender, upon reasonable notice to Borrower, may, but without obligation to do so and without releasing Borrower from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably deems necessary or appropriate to protect Lender's interest in the Property, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Property to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender appears to be prior or superior hereto; provided, however, that the foregoing shall be subject to Borrower's rights to contest under Section 7.3 of the Loan Agreement and, provided no Event of Default shall have occurred and is then continuing, Lender shall not pay or discharge any lien, encumbrance or charge being contested by Borrower in accordance with Section 7.3 of the Loan Agreement.

Appears in 1 contract

Samples: Alexanders Inc

Protection of Security; Costs and Expenses. Borrower Grantor shall appear in and defend any action or proceeding of which it has notice purporting to affect the security hereof or the rights or powers of Lender hereunder the Beneficiary or Trustee, and shall pay all costs and expenses actually incurred by Lenderexpenses, including, including without limitation, limitation cost of evidence of title and reasonable attorneys' fees and disbursementsfees, in any such action or proceedingproceeding in which Beneficiary or Trustee may appear, and in any suit brought by Lender Beneficiary to foreclose this Security Instrument Deed of Trust or to enforce or establish any other rights or remedies of Lender hereunder upon the occurrence and during the continuance of an Event of DefaultBeneficiary hereunder. If an Event Grantor fails to perform any of Default occurs and is continuing under the covenants or agreements contained in this Security Instrument or the NoteDeed of Trust, or if any action or proceeding is commenced in which it becomes necessary to defend affects Beneficiary's or uphold the lien or priority of this Security Instrument or which adversely affects Lender or LenderTrustee's interest in the Property Security or any part thereof, including, without limitationbut not limited to, eminent domain, enforcement ofcode enforcement, or proceedings of any nature whatsoever under any laws federal or other legal requirement affecting the Property state law, whether now existing or involving Borrower's hereafter enacted or amended, relating to bankruptcy, insolvency, arrangement, reorganization or other form of debtor relief, or to a decedent, then Lender, upon reasonable notice to Borrower, Beneficiary or Trustee may, but without obligation to do so and without notice to or demand upon Grantor and without releasing Borrower Grantor from any obligation hereunder, make such appearances, disburse such reasonable sums and take such action as Lender reasonably Beneficiary or Trustee deems necessary or appropriate to protect LenderBeneficiary's interest in the Propertyor Trustee's interest, including, but not limited to, disbursement of reasonable attorneys' fees, entry upon the Property Security to make repairs or take other action to protect the security hereof, and payment, purchase, contest or compromise of any encumbrance, charge or lien which in the reasonable judgment of Lender appears to be prior or superior hereto.any

Appears in 1 contract

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

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