Common use of Maintenance of Mortgaged Property Clause in Contracts

Maintenance of Mortgaged Property. (a) Mortgagor shall cause the Mortgaged Property to be maintained in a good and safe condition and repair. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment). Mortgagor shall promptly comply with all laws, orders and ordinances affecting the Mortgaged Property, or the use thereof. Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in paragraph 6 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Premises. Mortgagor shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or otherwise changing the uses which may be made of the Mortgaged Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Mortgagor will not cause or permit such nonconforming use to be discontinued or abandoned without the express written consent of Mortgagee.

Appears in 2 contracts

Samples: First Mortgage and Security Agreement (Century Properties Fund Xii), First Mortgage and Security Agreement (Century Properties Fund Xvi)

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Maintenance of Mortgaged Property. (a) Mortgagor shall cause the Mortgaged Property to be maintained in a good and safe condition and repairrepair (subject to the provisions of the Credit Agreement relating to Casualty Events and Takings). The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment)Equipment in the ordinary course of business) without the consent of Mortgagee. Mortgagor shall promptly comply in all material respects with all laws, orders and ordinances affecting the Mortgaged Property, or the use thereof. Mortgagor shall promptly repair, replace not undertake to construct any new building or rebuild any part of material Improvement on the Mortgaged Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in paragraph 6 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Premiseswithout Mortgagee's prior written consent. Mortgagor shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or otherwise changing defining the uses which may be made of the Mortgaged Property or any part thereofthereof without Mortgagee's prior written consent. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Mortgagor will not cause or permit such nonconforming use to be discontinued or abandoned without the express written consent of MortgageeMortgagee except as required by applicable law.

Appears in 2 contracts

Samples: Security Agreement (Eldertrust), Pledge and Security Agreement (Eldertrust)

Maintenance of Mortgaged Property. (a) Mortgagor shall cause the Mortgaged Property to be maintained in a good and safe condition and repair. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Improvements and Equipment)) without the consent of Mortgagee. Mortgagor shall promptly comply with all laws, orders and ordinances affecting the Mortgaged Property, or the use thereof, including, without limitation, building and zoning ordinances and codes. Subject to Section 3(b) and 5(a) hereof, Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be that is destroyed by any casualtyCasualty, or become becomes damaged, worn or dilapidated dilapidated, or which may be that is affected by any proceeding of the character referred to in paragraph 6 hereof Condemnation and shall complete and pay for any structure at any time in the process of construction or repair on the Premises. Mortgagor shall not initiate, join in, acquiesce in, in or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or otherwise changing defining the uses which may be made of the Mortgaged Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Mortgagor will not cause or permit such nonconforming use to be discontinued or abandoned without the express written consent of Mortgagee.. Mortgagor shall not (i) change the use of the Mortgaged

Appears in 1 contract

Samples: Leases and Rents and Security Agreement (Glimcher Realty Trust)

Maintenance of Mortgaged Property. (a) Mortgagor shall cause the Mortgaged --------------------------------- Property to be maintained in a good and safe condition and repair. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment)) without the written consent of Mortgagee. Mortgagor shall promptly comply with all laws, orders and ordinances affecting the Mortgaged Property, or Property and the use thereof. Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be that (i) is damaged or destroyed by any casualtycasualty (subject to the provisions of paragraph 4 hereof), or become (ii) becomes damaged, worn or dilapidated dilapidated, or which may be (iii) is affected by any proceeding of the character referred to in paragraph 6 7 hereof (subject to the provision of such paragraph 7) and Mortgagor shall complete and pay for any structure at any time in the process of construction construction, renovation or repair on the PremisesProperty. Mortgagor shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or otherwise changing defining the uses which may be made of the Mortgaged Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Mortgagor will not cause or permit such nonconforming use to be discontinued or abandoned without the express written consent of Mortgagee.

Appears in 1 contract

Samples: Indemnity Agreement (Afc Enterprises Inc)

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Maintenance of Mortgaged Property. (a) Mortgagor shall cause the Mortgaged Property to be maintained in a good and safe condition and repair. The Improvements and the Equipment shall not be removed, demolished or materially altered (except for normal replacement of the Equipment)) without the consent of Mortgagee. Mortgagor shall promptly comply with all laws, orders and ordinances affecting the Mortgaged Property, or the use thereof. Mortgagor shall promptly repair, replace or rebuild any part of the Mortgaged Property which may be destroyed by any casualty, or become damaged, worn or dilapidated or which may be affected by any proceeding of the character referred to in paragraph 6 hereof and shall complete and pay for any structure at any time in the process of construction or repair on the Premises. Mortgagor shall not initiate, join in, acquiesce in, or consent to any change in any private restrictive covenant, zoning law or other public or private restriction, limiting or otherwise changing defining the uses which may be made of the Mortgaged Property or any part thereof. If under applicable zoning provisions the use of all or any portion of the Mortgaged Property is or shall become a nonconforming use, Mortgagor will not cause or permit such nonconforming use to be discontinued or abandoned without the express written consent of Mortgagee.

Appears in 1 contract

Samples: elstico.com

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