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201901174
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Last modified
12/9/2019 6:26:48 PM
Creation date
2/28/2019 4:07:19 PM
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DEEDS
Inst Number
201901174
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201901174 <br />6. Payment of Taxes on Notes Deed of Trust or Interest of Trustee or Beneficiary. <br />Grantor agrees that if any tax, assessment or imposition upon this Deed of Trust or the <br />indebtedness hereby secured or the Notes or the interest of Trustee or Beneficiary in the <br />Mortgaged Premises or upon Trustee or Beneficiary by reason of or as a holder of any of the <br />foregoing (including, without limitation, corporate privilege, franchise and excise taxes, but <br />excepting therefrom any income tax on interest payments on the principal portion of the <br />indebtedness hereby secured imposed by the United States or any state) is levied, assessed or <br />charged, then, unless all such taxes are paid by Grantor to, for or on behalf of Trustee or <br />Beneficiary, as the case may be, as they become due and payable (which Grantor agrees to do <br />upon demand of Trustee or Beneficiary, to the extent permitted by law), or Trustee or <br />Beneficiary, as the case may be, is reimbursed for any such sum advanced by such party, all sums <br />hereby secured shall become immediately due and payable, at the option of Beneficiary upon <br />thirty (30) days' notice to Grantor, notwithstanding anything contained herein or in any law <br />heretofore or hereafter enacted, including any provision thereof forbidding Grantor from making <br />any such payment. Grantor agrees to exhibit to Beneficiary, upon request, official receipts <br />showing payment of all taxes and charges which Grantor is required to pay hereunder. <br />7. Recordation and Payment of Taxes and Expenses Incident Thereto. Grantor will <br />cause this Deed of Trust, all deeds of trust supplemental hereto and any financing statement or <br />other notice of a security interest required by Trustee or Beneficiary at all times to be kept, <br />recorded and filed at its own expense in such manner and in such places as may be required by <br />law for the recording and filing or for the rerecording and refiling of a deed of trust, security <br />interest, assignment or other lien or charge upon the Mortgaged Premises, or any part thereof, in <br />order fully to preserve and protect the rights of Trustee and Beneficiary hereunder and, without <br />limiting the foregoing, Grantor will pay or reimburse Trustee or Beneficiary, as the case may be, <br />for the payment of any and all taxes, fees or other charges incurred in connection with any such <br />recordation or rerecordation, including any documentary stamp tax, intangibles tax or tax <br />imposed upon the privilege of having this instrument or any instrument issued pursuant hereto <br />recorded. <br />8. Insurance. Grantor will maintain all insurance required under the terms of the <br />Credit Agreement. <br />9. Damage to or Destruction of Mortgaged Premises. <br />(a) Notice. In case of any material damage to or destruction of the Mortgaged <br />Premises or any part thereof, Grantor shall promptly give written notice thereof to <br />Beneficiary, generally describing the nature and extent of such damage or destruction. <br />(b) Restoration. In case of any damage to or destruction of the Mortgaged <br />Premises or any part thereof, Grantor, whether or not the insurance proceeds, if any, <br />received on account of such damage or destruction shall be sufficient for the purpose, at <br />Grantor's expense, will promptly commence and complete (subject to unavoidable delays <br />occasioned by strikes, lockouts, acts of God, inability to obtain labor or materials, <br />governmental restrictions and similar causes beyond the reasonable control of Grantor) <br />-7- <br />
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