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89105089
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Last modified
10/20/2011 11:54:09 AM
Creation date
10/20/2005 10:02:20 PM
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DEEDS
Inst Number
89105089
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Al <br />or personal property encumbered hereby, .l#tantgr will 'pay _ such <br />tax, assessment, or other charge before -, delinqu+s�tc ;: and will <br />;. indemnify. eenefici�.ary. against all Wes, a sse,- Or .d.Minution..o <br />income in connection therewith. In the *vent Grantor is unable <br />to do so, eithwr for. economic rl &sons_ or because the i al <br />-�sx, -nom uge <br />__. -. . <br />prow s ons or ec -Isans esea saq su�ah assess�e or c <br />forbids Grantor 'from doing sac then' tkt* . Notes will, at Herne- <br />ficiary's option, beccver due and payab ,l.` in, °:L+xll upon 3Q. days' - - <br />notice, to Grantor. <br />(d) Right to Contest. Notwithstand- i,ng.any other <br />provision of this sect oar raptor will_ not- be dewed to be in <br />default solely by reason of Grantor's. , failure to pay any tax, <br />assessment or similar governmental charge so long as, in <br />Denefi,cisry's judgment, each of the;-following conditions is <br />' satitfa ode. <br />tior is engiq+eci' ' in. and diligently <br />'pursuing ice goo..". faith administ.rat;ive 'or judicial pro- <br />' aeedings appropx#iett to contesi.t the ' validity or amount <br />Of such taxr assessment, or charge; and <br />... <br />(ii) Grantor's payment of such tux, assess- <br />ment, or charge would necessarily and materially <br />prejudice Grantor's prospects. for success: in such <br />,proceedings; and <br />- <br />: Nonpayment of such taxor, assessment. or <br />chaerge weal not result ' in the loss or 'forfeiture of any <br />property encumbered hereby. or any interest - of <br />" Uneficiary therein; and <br />' (iv) Grantor deposits with Beneficiary as <br />security for such payment wb#h may ultimately be <br />->< <br />equ equal to the a�rc�nt of the disputed tax, <br />required,, red, a sum <br />- <br />. assessment or charge plus the interest, penalties, <br />' advertising charges, and other costs...which Beneficiary <br />estimates ..are likely to become payable if Grantor's <br />4. <br />' '•'�''"' <br />contest ii,unsuccessful�. <br />; <br />If Benefi4ary determines that any one�!.t, more of such conditions <br />is not satisfied or is no longer sati$flod, Grantor will pay the <br />assessment, or charge f ':;questi n, together with any <br />inteeteest and penalties thereon, `within leia;*days after Beneficiary <br />gives notice of such determination. <br />a e.5 Nal,a!tenance of Insurance. <br />(a) Covera v es R' iredb'. Grantor shall maifttain <br />or cause to be mainta ne .;. with n€i" -rand i lly sound and reputable <br />insurance companies or assdtlati nsr insurance which insuries +the <br />U } <br />
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