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III
<br />GENERAL AGREEMENTS
<br />201703609
<br />3.01 Payment and Performance of the Obligations. Grantor shall pay and perform
<br />promptly and when due all of the Obligations required to be paid and performed by it under, and in
<br />the manner provided in, the Loan Documents. In addition, Grantor shall perform promptly all
<br />obligations set forth in this Security Instrument.
<br />3.02 Impositions. Grantor shall pay prior to delinquency all general taxes, special taxes,
<br />general assessments, special assessments, water charges, sewer charges, and any other charges,
<br />fees, taxes, claims, levies, expenses, liens (including mechanics' liens, materialmen's liens and
<br />similar liens) and assessments, ordinary or extraordinary, governmental or non - governmental,
<br />statutory or otherwise (all of the foregoing being herein collectively referred to as "Impositions "),
<br />that may be asserted against the Property or any part thereof or interest therein.
<br />Grantor may, in good faith and with reasonable diligence, contest the validity or amount of
<br />any Impositions; provided, that Mortgagor may contest such Impositions in accordance with
<br />Section 6.4 or Section 7.2 of the Credit Agreement, as applicable.
<br />3.03 Payment of Impositions by Grantee. Upon Grantor's failure to pay the Impositions
<br />as provided above, Grantee is hereby authorized to make or advance, in the place and stead of
<br />Grantor, any payment relating to Impositions, unless such Imposition is then being contested by
<br />Grantor in accordance with Section 3.02. Grantee may do so according to any bill, statement, or
<br />estimate procured from the appropriate public office without inquiry into the accuracy or the
<br />validity of any Impositions, lien, sale, forfeiture, or related title or claim. Grantee is further
<br />authorized to make or advance, in place of Grantor, unless such matter is being contested by
<br />Grantor in accordance with Section 3.02 any payment relating to any apparent or threatened
<br />adverse title, lien, statement of lien, encumbrance, claim, charge, or payment otherwise relating to
<br />any other purpose herein and hereby authorized, but not enumerated in this Section, whenever, in
<br />Grantee's reasonable judgment and discretion, such advance seems necessary or desirable to
<br />protect the full security intended to be created by this Security Instrument. All such advances and
<br />indebtedness authorized by this Section shall constitute Secured Indebtedness, whether or not they
<br />exceed the amount of the Loans, and shall be repayable by Grantor upon demand with interest at
<br />the highest rate of interest that may be charged to Grantor under the Loan Documents for failure to
<br />timely pay the Obligations (the "Default Rate ").
<br />NAI- 1502659666v3
<br />3.04 Insurance and Insurance Proceeds.
<br />(a) Grantor, at its sole cost and expense, shall maintain or cause to be
<br />maintained all insurance on the Property that is required to be maintained under Section
<br />6.3(b) of the Credit Agreement.
<br />(b) All such insurance policies (and any other insurance policies) with respect
<br />to the Property shall contain a standard, non - contributory mortgagee clause naming
<br />Grantee, and its successors and assigns, as an additional insured under all liability
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