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201305319
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Last modified
8/19/2014 2:23:28 PM
Creation date
7/2/2013 4:44:32 PM
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DEEDS
Inst Number
201305319
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68 <br />201305319 <br />(e) If Mortgagor complies with subsection (c) of this Section by obtaining a certified <br />Remedial Action Work Plan or Remediation Certification, Mortgagor shall promptly implement <br />and prosecute to completion or cause to be so implemented and prosecuted the Remedial Action <br />Work Plan or the requirements of the Remediation Certification, as the case may be, in <br />accordance with the schedules contained therein or as may be otherwise required by ISRA. <br />Mortgagor expressly understands and acknowledges that Mortgagor's compliance with the <br />provisions of this subsection (d) may require Mortgagor to expend funds or do acts after the <br />expiration or termination of the term of one or more leases. Mortgagor shall expend such funds <br />and do such acts and shall not be excused therefrom even though the term of the relevant lease <br />shall have previously expired or been terminated and notwithstanding any provisions in any such <br />lease or in ISRA placing the burden of compliance on the tenant. <br />ARTICLE XV <br />Special New Mexico Provisions <br />Section 15.1. Inconsistencies. With respect to the Property located in the state of New <br />Mexico, the provisions set forth in this Article shall apply to and be made a part of the Mortgage. <br />In the event of any inconsistencies between the terms and provisions of this Article and the other <br />terms and provisions of this Mortgage, or to the extent, and only to the extent, any of the terms <br />and provisions in this Article conflict with, or are ambiguous when read together with, any of the <br />other terms and provisions of this Mortgage, the provisions of this Article shall govern. <br />Capitalized words and phrases contained in this Article shall have the definition ascribed to them <br />in the main body of the Mortgage, unless the context manifestly requires otherwise. <br />Section 15.2. Deed of Trust Act; Waiver of Right of Reinstatement. Mortgagor <br />expressly subjects the Property to the terms of the Deed of Trust Act, Section 48 -10 -1 through <br />48 -10 -21 NMSA 1978, as amended from time to time (the "Deed of Trust Act "). All the rights, <br />powers and remedies of a trustee and beneficiary as provided in the Deed of Trust Act are <br />incorporated by reference in this Mortgage as if the rights, powers and remedies were expressly <br />provided in this Mortgage. Mortgagor represents and warrants to Administrative Agent that the <br />Mortgaged Property as provided in this Mortgage qualifies as trust real estate as defined in the <br />Deed of Trust Act. Mortgagor intends that Trustee and Administrative Agent receive through <br />the Loan Documents and this Mortgage all the rights, powers and remedies accorded a trustee <br />and a Administrative Agent as provided in the Deed of Trust Act, whether or not such rights, <br />powers and remedies are expressly granted or reserved in the Loan Documents or this Mortgage. <br />To the extent not prohibited by law, Mortgagor expressly waives any right of Mortgagor to <br />reinstate this Mortgage as provided in Section 16 of the Deed of Trust Act if payment of any <br />Indebtedness is declared due or accelerated by Administrative Agent. <br />Section 15.3. Simple Description. As required by Section 14 -11 -10.1 NMSA 1978, a <br />simple description of the Property is: N/A <br />Section 15.4. Impound Account The impound funds may be applied as provided in <br />Section 8.2 of the Credit Agreement despite any provisions of Section 48 -7 -8 NMSA 1978. <br />Section 15.5. Limitation on Indemnity. To the extent, if at all, 56 -7 -1 NMSA 1978, as <br />amended, is applicable, any agreement to indemnify, hold harmless, insure or defend another <br />
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