86101845 - Laserfiche WebLink

Browse

u ZA, ®- 101845 9 hereunder, in any form and manner deemed expedient by the Agent, and any amount so paid or expended (plus reasonable compensation to the Agent for its out -of- pocket and other expenses for each matter for which it acts under this !Mortgage), with interest thereon at the rate applicable after maturity as provided in the Notes, shall be added to the principal debt hereby secured and shall be repaid to the Agent upon demand. By way of illustration and not in limitation of the foregoing, the Agent may (but need not) do all or any of the following: make payments of principal or interest or other amounts on any lien, encumbrance or charge on any of the Collateral including the Senior Loans; complete construction; make repairs; collect rents; pay or perform any obligation of the Mortgagor under the leases comprising the Leasehold Estates; prosecute collection of the Collateral or proceeds thereof; purchase, discharge, compromise or settle any tax lien or any other lien, encumbrance, suit, proceeding, title or claim thereof; contest any tax or assessment; and redeem from any tax sale or forfeiture affecting the Premises. In making any payment or securing any performance relating to any obligation of the Mortgagor hereunder, the Agent shall (as long as it acts in good faith) be the sole judge of the legality, validity and amount of any lien or encumbrance and of all other matters necessary to be determined in satisfaction thereof. No such action of the Agent shall ever be considered as a waiver of any right accruing to it on which constitutes a account of the occurrence of any matter Default (defined hereinafter). 1.19. Subrogation. To the extent that the Agent or any of the Len ers, on or after the date hereof, pays any sum due under any provision of law or any instrument or document creating any lien prior or superior to the lien of this Mortgage, or the Mortgagor or any other person pays any such sum with the proceeds of the loans which are the subject matter hereof, the Trustees shall have and be entitled to a lien on the Collateral (in the case of personal property governed by the Uniform Commercial Code in the jurisdiction in question, the Agent shall have and be entitled to a lien on the Collateral) equal in priority to the lien discharged, and the Trustees (or the Agent, as the case may be) shall be subrogated to, and receive and enjoy all rights and liens possessed, held or enjoyed by, the holder of such lien, which shall remain in existence and benefit the Trustees (or the Agent, as the case may be) in securing the Liabilities. 1.20. Hazardous Materials. Neither the Mortgagor nor, to the actual knowledge of the Mortgagor, any other person -20- u