Common use of Approval and Consent Clause in Contracts

Approval and Consent. Whenever this Mortgage talks about “approval” or a “consent”, we mean approval or consent in writing, given by us before you act. We may spend money to do anything you promised to do, but did not do. You must continue to keep your Promises, even if we have spent money to do something you promised to do. Any money we spend because you did not keep a Promise will be added to the Outstanding Amount, will be payable on demand, will bear interest at the Interest Rate from the date that we spend the money until fully paid and will be secured by the Mortgage with the same priority. It shall be immediately due and payable to us. By the Mortgage you grant and mortgage any additional or greater interest in your Property that you may later acquire.