Common use of Right to Make Repairs, Improvements Clause in Contracts

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of Mortgagee, Mortgagee may use, operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or its value. Mortgagor covenants to promptly reimburse and pay to Mortgagee, at the place where the Note is payable, or at such other place as may be designated by Mortgagee in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Mortgagee in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Mortgagee at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Mortgagor and Mortgagee shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance, or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of MortgageeLender after an Event of Default, Mortgagee Lender may use, operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or its value. Mortgagor Borrower covenants to promptly reimburse and pay to MortgageeLender, at the place where the Note is payable, or at such other place as may be designated by Mortgagee Lender in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Mortgagee Lender in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Mortgagee Lender at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Mortgagor Borrower and Mortgagee Lender shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance, or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of MortgageeLender, Mortgagee whether before or after an Event of Default, Lender may use, operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or its value. Mortgagor Borrower covenants to promptly reimburse and pay to MortgageeLender, at the place where the Note is payable, or at such other place as may be designated by Mortgagee Lender in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Mortgagee Lender in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Mortgagee Lender at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Mortgagor Borrower and Mortgagee Lender shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance, or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.

Right to Make Repairs, Improvements. Should any part of the Property Premises come into the possession of MortgageeBeneficiary, Mortgagee whether before or after an Event of Default, Beneficiary may use, operate, and/or make repairs, alterations, additions and improvements to the Property Premises for the purpose of preserving it or its value. Mortgagor Grantor covenants to promptly reimburse and pay to MortgageeBeneficiary, at the place where the Note is payable, or at such other place as may be designated by Mortgagee Beneficiary in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Mortgagee Beneficiary in connection with its custody, preservation, use or operation of the PropertyPremises, together with interest thereon from the date incurred by Mortgagee Beneficiary at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property Premises is undertaken by Mortgagor and Mortgagee Grantor and, except for Beneficiary’s willful misconduct or gross negligence, Beneficiary shall have no liability whatsoever for decline in value of the PropertyPremises, for failure to obtain or maintain insurance, or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.

Right to Make Repairs, Improvements. Should any part of the Property come into the possession of MortgageeBeneficiary, Mortgagee may Beneficiary may, but shall not be obligated to, use, operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or its value. Mortgagor Trustor covenants to promptly reimburse and pay to MortgageeBeneficiary, at the place where the Note is payable, or at such other place as may be designated by Mortgagee Beneficiary in writing, the amount of all reasonable expenses (including the cost of any insurance, taxes, or other charges) incurred by Mortgagee Beneficiary in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Mortgagee Beneficiary at the Default Rate, and all such expenses, costs, taxes, interest, and other charges shall be a part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Mortgagor Trustor and Mortgagee Beneficiary shall have no liability whatsoever for decline in value of the Property, for failure to obtain or maintain insurance, or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured.