Common use of Right to Remedy Defaults Clause in Contracts

Right to Remedy Defaults. If Grantor fails to pay, or cause the payment of, taxes, assessments, water and sewer charges or other lienable claims (except in case of contest as aforesaid) or insurance premiums, or fails to make necessary repairs or permit waste, or otherwise fails to comply with its obligations hereunder or under the Guaranty or any other document executed in connection with this Deed of Trust, then Beneficiary, at its election and upon one (1) day notice to Grantor, shall have the right to make any payment or expenditure which Grantor should have made, or which Beneficiary deems advisable, in the exercise of its reasonable business judgment, to protect the security of this Deed of Trust or the Mortgaged Property, without prejudice to any of the Beneficiary’s rights or remedies available hereunder or otherwise, at law or in equity. All such sums, as well as costs, advanced by Beneficiary pursuant to this Deed of Trust shall be due from Grantor to Beneficiary within ten (10) days after written demand, shall be secured hereby, and shall bear interest at the Default Rate from the date of payment by Beneficiary until the date of repayment.

Right to Remedy Defaults. If Grantor fails to pay, or cause the payment of, taxes, assessments, water and sewer charges or other lienable claims (except in case of contest as aforesaid) or insurance premiums, or fails to make necessary repairs or permit waste, or otherwise fails to comply with its obligations hereunder or under the Guaranty or any other document executed in connection with this Deed of TrustSecurity Instrument, then BeneficiaryGrantee, at its election and upon one (1) day notice to Grantor, shall have the right to make any payment or expenditure which Grantor should have made, or which Beneficiary Grantee deems advisable, in the exercise of its reasonable business judgment, judgment to protect the security of this Deed of Trust Security Instrument or the Mortgaged Property, without prejudice to any of the BeneficiaryGrantee’s rights or remedies available hereunder or otherwise, at law or in equity. All such sums, as well as costs, advanced by Beneficiary Grantee pursuant to this Deed of Trust Security Instrument shall be due from Grantor to Beneficiary Grantee within ten (10) days after written demand, shall be secured hereby, and shall bear interest at the Default Rate from the date of payment by Beneficiary Grantee until the date of repayment.

Right to Remedy Defaults. If Grantor fails to pay, or cause the payment of, taxes, assessments, water and sewer charges or other lienable claims (except in case of contest as aforesaid) or insurance premiums, or fails to make necessary repairs or permit waste, or otherwise fails to comply with its obligations hereunder or under the Guaranty Note or any other document executed in connection with this Deed of Trust, then Beneficiary, at its election and upon one (1) day notice to Grantor, shall have the right to make any payment or expenditure which Grantor should have made, or which Beneficiary deems advisable, in the exercise of its reasonable business judgment, to protect the security of this Deed of Trust or the Mortgaged Property, without prejudice to any of the Beneficiary’s rights or remedies available hereunder or otherwise, at law or in equity. All such sums, as well as costs, advanced by Beneficiary pursuant to this Deed of Trust shall be due from Grantor to Beneficiary within ten (10) days after written demand, shall be secured hereby, and shall bear interest at the Default Rate from the date of payment by Beneficiary until the date of repayment.