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HomeMy WebLinkAbout2871 r 28 may make such payment or perform such act for the account of and at the expense of Alortgagor, and sliall l~ave the right to enter the Land- for such purpose and to take all such action thereon and ~vith respect to the 11~iortgaged Property as may be necessary or appropriate for such purpose. All sums so paid by ~Iortgagee, and all costs and expenses, including, without limitation, reasonable attorneys' fees and expenses so incurred, together with interest thereon at the rate specified in the Note, from the date of payment, shall constitute a part of the Indebtedness, and shall be paid by _ Mortgagor to A4ortgagee, on demand. If Niortgagee shall elect to pay any Imposition, rlortgagee shall give written notice of such election to 14lortgagor and if Aiortgagor fails to pay such Imposition within thirty ( 30 ) days after giving said notice 1liortgagee may do so in reliance on any bill, statement or assessment procured from the ap- propriate governmental or non-governmental office, without inquiring into the accuracy, amount or validity of such Imposition. Similarly, in mak- ! ing any payments to protect the security intended to be created by the ~ Security Documents, ~Iortgagee shall not be bound to inquire into the ac- i : curacy, amount or validity of any apparent or theatened adverse title, lien, ~ encumbrance, claim or charge before making an advance for the purpose ~ of preventing or removing the same provided iblortgagec has given Atortga- ~ gor thirty ( 30 ) days written notice of niortgagee's intention to pay same. ~ Mortgagor shall indemnify Aiortgagee for all losses and expenses, includ- ~ ing reasonable attorne}s' fecs, incurred by reason of any acts perforn~ed b~~ 1lortgagee pursuant to tne pro~isions of this paragraph 11.7 or by ~ reason of the Security Documents, and any funds eYpended by l~tortgagee ~ to ~vhich it shalt be entitled to be indemnified, together ~vith interest there- on at the rate spe~ified in the Note, from the date of such expenditures, ~ shall constitute ad:titions to the Indebtedness and shall be secured Uy the ~ Serurity Documents and shall be paid by ~tortgagor to Dlortgagee upon ~ demand. ~ ~ 11.8 COVE~AIVTS Rv~v~vt~vc ~~~ITH THE LnNn. All covenants con- tained in the Security Documents shall run ~vith the Aiortgaged Property. r~ r' 11.9 FI~TURE AD~'A1CES; ~PEN END h~IoxTCACE. The proceeds ~f ~ ~ the tiote shall be ad~~anced from time to time by i~lartgagee to ~Iortgagor - under the terms of the Loan Agrecment or undcr paragraph 7.12. in ~ addition to the Indebtedness evidenced by the Note, 1~Iortgagee may make E~ ~ ~ ~ ~ 0 ~ 2O~ PAfE~u IU ~ BO~~i! . ~ _ _ _ ~ , ~ _ ~ ~ ~ ~~~'~~~~`..a . ~ ~ .e~_. ~~5£ ~"z r ~x