Use of Mortgaged Property. Unless required by applicable law or unless Mortgagee has otherwise agreed in writing, Mortgagor shall not allow changes in the nature of the occupancy or use for which the Mortgaged Property was intended at the time this Mortgage was executed. Mortgagor shall not initiate or acquiesce in a change in the zoning classification of the Mortgaged Property or subject the Mortgaged Property to restrictive or negative covenants without Mortgagee’s written consent. Mortgagor shall comply with, observe and perform all zoning and other laws affecting the Mortgaged Property, all restrictive covenants affecting the Mortgaged Property, and all licenses and permits affecting the Mortgaged Property.
Appears in 2 contracts
Sources: Mortgage, Security Agreement, Assignment of Leases and Rents, and Financing Statement (Stockeryale Inc), Mortgage, Security Agreement, Assignment of Leases and Rents and Financing Statement (Stockeryale Inc)