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3.07 Prohibited Liens and Transfers.
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<br />(a) Except for Permitted Exception and as may otherwise be provided in the
<br />Credit Agreement, and as provided by operation of the laws of the State, Grantor shall not
<br />create, suffer, or permit to be created or filed against the Property any deed of trust lien or
<br />other lien superior or inferior to the lien created by this Security Instrument, including
<br />without limitation any mechanics', materialmen's or like liens or claims. To the extent that
<br />any lien, privilege or other security device referenced in the preceding sentence is created
<br />by operation of law, Grantor shall cause such security device to be released as soon as
<br />practicable after its creation. Grantor may contest any lien claim arising from any work
<br />performed, material furnished, or obligation incurred by Mortgagor (other than the lien of
<br />this Security Instrument or of any other document securing payment of the Obligations)
<br />with respect to the validity of any lien described in this Section 3.07(a) to the extent
<br />permitted by, and in accordance with, the Credit Agreement.
<br />(b) Except as may otherwise be provided in the Credit Agreement, Grantor
<br />shall not sell, lease or convey all or any part of the Property.
<br />3.08 Stamp Taxes. If at any time the United States government, or any federal, state, or
<br />municipal governmental subdivision, requires Internal Revenue or other documentary stamps or
<br />levies any tax on any of the Loan Documents or the Loans, or requires payment of any tax in the
<br />nature of or comparable to the United States Interest Equalization Tax on the Secured
<br />Indebtedness, then Grantor shall pay such tax, including interest and penalties, in the required
<br />manner.
<br />3.09 Change in Tax Laws. In the event of the enactment, after the date of this Security
<br />Instrument, of any law of the United States of America, or any state or political subdivision
<br />thereof, (i) deducting from the value of the Premises, for the purpose of taxation, the amount of any
<br />lien thereon; (ii) imposing upon Grantee the payment of all or any part of the taxes, assessments,
<br />charges or liens hereby required to be paid by Grantor; or (iii) changing in any way the laws
<br />relating to the taxation of mortgages or debts secured by mortgages or Grantor's interest in the
<br />Property, or the manner of collection of taxes, so as to affect this Security Instrument or the
<br />Secured Indebtedness (each, a "Tax Law Change "); then Grantor, upon reasonable demand by
<br />Grantee, and as required by law, shall pay such taxes, assessments, charges, or liens or reimburse
<br />Grantee therefor. Nothing contained in this Section 3.09 shall be construed as obligating Grantor
<br />to pay any portion of Grantee's federal, state and local income tax.
<br />3.10 Assignment of Leases and Rents. All right, title, and interest of Grantor in and to
<br />all present Leases affecting the Property and including and together with any and all future Leases,
<br />written or oral, upon all or any part of the Property and together with all of the Rents from or due or
<br />arising out of the Property are hereby transferred and assigned simultaneously herewith to
<br />Grantee, for the benefit of the Lenders, as further security for the payment and performance of the
<br />Secured Indebtedness. Notwithstanding the foregoing, Grantee hereby grants Grantor a license to
<br />collect all Rents, which license may be revoked by Grantee during any period in which an Event of
<br />Default (as hereinafter defined) is in existence, and shall be reinstated without action by any party
<br />upon such time as such Event of Default is no longer in existence. Each Lease, including all future
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