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HomeMy WebLinkAbout2971 28 may make such payment or perform such act for the account of and at , the expense of r4ortgagor, and shall have the right to enter the Land for such purpose and to take all such action thereon and with respect to the Mortgaged 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 Mortgagee, on demand. If Mortgagee shall elect to pay any Imposition, Mortgagee shall give written notice ; I of such election to Mortgagor and if Mortgagor faiis to pay such Imposition ; within thirty ( 30 ) days after giving said notice Mortgagee 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. Similazly, in mak- ; ing any payments to protect the security intended to be created by the Security Documents, Mortgagee shall not be bound to inquire into- the ac- ; curacy, amount or validity of any apparent or theatened adverse dtle, lien, ~ : encumbrance, claim or charge before making an advance for the purpose ~ of preventing or removing the same pro~zded Mortgagee has given Mortga- ' F gor thirty ( 30 ) days written notice of Mortgagee's intention to pay same. ~ D7ortgagor shall indemnify Mortgagee for all losses and expenses, includ- ~ ing reasonable attorneys' fees, incurred by reason of any acts performed ~ by I1Zortgagee pursuant to the provisions of this paragraph 11.7 or by ~ reason of the Security Documents, and any funds expended by Mortgagee _ ~ to which it shall be entided ~o be indemnified, together ~vith interest there- r on at the rat~ specified in the Note, from the date of such expenditures, _ shall constitute additions to the Indebtedness and shall be secured by the Security Documents and shall be paid by Niortgagor to 141ortgagee upon ~ demand. ~ 11.8 COVENANTS RUNNII`G ~VITH THE I.AND. ~1 covenants COri- ~ _ tained in the Security Documents shall run ~vith the Mortgaged Property. - 11.9 FUTUIiE t~DVANCES; OPEN END i~ORTGAGE. T~16 plOCeedS Of the Note shall bz advanced from time to time by Mortgagee to Mortgagor under the terms of the Loan Agreement or under paragraph 7.12. In addidon to the Indebtedness evidenced by the Note, Mortgagee may make _'`i r'F ~'.i ` ~ _ ' r ~ ~'w ~ ~ ' 600K .•y ' :t . ~6 PACE29V9 ~,s, ' ' ~=Nf ~ ~ ~ _ - - - - - ~ ~ _ . ~ . - _ _ . . ~ {