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. � g9-i65138 Personal Property, equipment or other facilities used in the operation or maintenance thereof (all of which taxes, assessments and other governmental charges of like nature are hereinafter referred to as "Impositions") ; provided, however, that if, by law, any such Imposition is payable, at the option of the taxpayer, in installments, Grantor may pay the same together with any accrued interest on the unpaid balance of such Zmposition in installments as the same become due and before any fine, penalty, interest or cost may be added thereto for the nonpayment of any such installment and interest. (b) If at any time after the date hereof there shall be assessed or imposed a tax or assessment on the Premises in lieu of or in addition to the Impositions payable by Grantor pursuant to subparagraph (a) hereof, then all such taxes, assessments or fees shall be deemed to be included within the term "Impositions" as defined in subparagraph (a) hereof, and Grantor shall pay and discharge the same as herein provided with respect to the payment of Impositions or, at the option of Beneficiary, all obligations secured hereby together with all accrued interest thereon, shall immediately become due and payable. Anything to the contrary herein notwithstanding, Grantor shall have no obligation to pay any franchise, estate, inheritance, income, excess profits or similar tax levied on Beneficiary or on the obligations secured hereby. (c) Subject to the provisions of subparagraph (d) of this Section 1. 8, Gra�tor covenants to furnish Beneficiary within thirty (30) days after the date upon which any such imposition is due and payable by Grantor official receipts of the appropriate taxing authority, or other proof satisfactory to Beneficiary, evidencing the payments thereof. (d) Grantor shall have the right before any delinquency occurs to contest or object to the amount or validity of any such Imposition by appropriate legal proceedings, but this shall not be deemed or construed in any way as relieving, modifying or extending Grantor's covenant to pay any such Imposition at the time and in the manner provided in this Section 1. 8, unless Grantor has given prior written notice to Beneficiary of Grantor's intent tc so contest or object to an Imposition, and unless, at Beneficiary's sole option, (i) Grantor shall demonstrate to Beneficiary's satisfaction that the legal proceedings shall conclusively operate to prevent the sale of the Premises, or any part thereof, to satisfy such Imposition prior to final determination of such proceedings; and (ii) Grantor shall furnish a good and sufficient bond, surety or other security to Beneficiary, as requested by and satisfactory to Beneficiary. (e) At the request of Beneficiary, Grantor shall pay to Beneficiary, on the day monthly installments of principal and interest are payable under the Note, until the Secured Indebtedness is paid in full, an amount equal to one-twelfth of the annual Impositions reasonably estimated by Beneficiary to pay the installment of taxes next due on the Premises in order to accumulate with Beneficiary sufficient funds . to pay the annual Impositions thirty (30) days prior to their due date. In such event Grantor further agrees to cause all bills, statements or other documents relating to Impositions to be sent or mailed directly to Beneficiary. Upon receipt of such bills, statements or other documents, and provided Grantor has deposited sufficient funds with Beneficiary pursuant to this Section 1. 8, Beneficiary shall pay such amounts as may be due thereunder out of the funds so deposited with Beneficiary. If at any time and for any reason the funds deposited with Beneficiary are or will be insufficient to pay such amounts as may then or subsequently be due, Beneficiary shall notify Grantor and Grantor shall immediately deposit an amount equal to such deficiency with Beneficiary. Notwithstanding the foregoing, nothing contained herein shall cause Beneficiary to be -8-