What right does the lender have according to the Covenant of Property Inspection?

The lender's right according to the Covenant of Property Inspection is the right to inspect the property. This covenant is designed to protect the lender's interests by allowing them to ensure that the property used as collateral for the loan is being maintained and is in a condition that supports its value. Regular inspections help the lender assess the property's condition, which is critical in determining whether the borrower is adhering to the terms of the loan agreement and whether any potential issues could impact the value of the property.

This right is important for lenders because it allows them to act quickly if they notice any deterioration or lack of maintenance, which could jeopardize their investment. The ability to inspect the property helps ensure that it remains a viable asset that can cover the loan, providing security for the lender in case of default. The other options do not accurately describe this specific aspect of the lender's rights under the Covenant of Property Inspection.