Why the borrower has to proceed to an adequate maintenance of the immovable property?

When there is a building erected on the immovable property given as security, the borrower will make a commitment to protect and maintain adequately this building. He will also commit to preserve its value. The financial institution so wants to make sure that the property offered as security keeps its value and that it can recover its debt in the event of resumption of the immovable property and realization of the security.

The financial institution will also require that the borrower maintains an insurance coverage in the event of loss of the building.