Common use of Protective Advances by Beneficiary Clause in Contracts

Protective Advances by Beneficiary. If Grantor shall fail to perform any of the covenants contained herein, Trustee or Beneficiary may make advances to perform the same on its behalf and all sums so advanced shall be a lien upon the Mortgaged Property and shall be secured hereby. Grantor will repay on demand all sums so advanced on its behalf together with interest thereon at the Default Rate. The provisions of this Section shall not prevent any default in the observance of any covenant contained herein from constituting an Event of Default.

Protective Advances by Beneficiary. If Grantor shall fail to ---------------------------------- perform any of the covenants contained herein, Trustee or Beneficiary may make advances to perform the same on its behalf and all sums so advanced shall be a lien upon the Mortgaged Property and shall be secured hereby. Grantor will repay on demand all sums so advanced on its behalf together with interest thereon at the Default Rate. The provisions of this Section shall not prevent any default in the observance of any covenant contained herein from constituting an Event of Default.