Excess Monies. Mortgagee may apply on account of the Liabilities any unexpended monies still retained by Mortgagee that were paid by Mortgagor to Mortgagee: (i) for the payment of, or as security for the payment of taxes, assessments or other governmental charges, insurance premiums, or any other charges; or (ii) to secure the performance of some act by Mortgagor.
Appears in 3 contracts
Sources: Mortgage and Security Agreement (Burlington Coat Factory Warehouse Corp), Reimbursement Agreement (Alexanders Inc), Mortgage and Security Agreement (Michael Anthony Jewelers Inc)