Rights Exercisable Regardless of Default Clause Samples

Rights Exercisable Regardless of Default. Whether or not an ---------------------------------------- Event of Default (defined in Section 7.3 below) or any event which, with the giving of notice or the passage of time or both would constitute an Event of Default, exists under this Mortgage, the Lender shall have the following rights: (a) The Lender is hereby specifically authorized to make, at the Lender's sole option, any or all payments required to be made either hereunder, or otherwise by the Mortgagor in connection with the Premises or any of the transactions contemplated by the Loan Documents. Such payments may include, but are not limited to, payments for taxes, assessments, betterments and other governmental levies, and charges, water rates, insurance premiums, maintenance, repairs or improvements constituting a part of the Premises. The Lender shall have the right, but not the duty, to perform any obligations of the Mortgagor relating to the Premises, without waiving any other rights or releasing the Mortgagor from any obligation hereunder. (b) The Lender shall have the right, but not the duty, to intervene or otherwise participate in any legal or equitable proceeding which, in the Lender's reasonable judgment, affects the Premises or any of the rights created or secured by any of the Loan Documents. Such rights may be exercised by the Lender at any time, but only after notice to the Mortgagor, and only to the extent permitted by law and necessary to protect its rights hereunder and in the Premises, and shall be at its sole expense prior to the occurrence of any Event of Default, and at Mortgagor's cost and expense subsequent to the occurrence of an Event of Default.