Common use of Other Rights and Obligations of the Parties Clause in Contracts

Other Rights and Obligations of the Parties. The Owner is authorized to use the Mortgaged Property and its product so that the Mortgaged Property is not impaired unless the impairment is caused by the normal economic use of the Mortgaged Property. The Owner shall protect the Mortgaged Property from Third Parties’ infringement and claims. Furthermore, immediately notify the Bank, if a Third party institutes an action against it, if particulars of the claim relate to the termination or limitation of the Owner’s title to the Mortgaged Property, its portion, product and/or improvement.